San Mateo, California-based Internet startup AVOS Systems is laying off 80% of its workforce because of the lack of traction, according to sources familiar with the situation.
Sectors
JMI Equity leads $38M venture round for Utah-based software firm AtTask
San Diego, US-based software investor JMI Equity led a $38-million Series D venture capital round for the expansion and development of Utah-based work flow management software company AtTask.
US retailers feel pressure to beef up cybersecurity spending- report
Retailers in the US are feeling the pressure to increase their cybersecurity spending as they compete against online rivals and strive to meet the October 2015 deadline by Visa and MasterCard to be able to use chip-enabled payment cards, Reuters reported.
Singapore-listed Sunmoon invests in American beverage firm True Drinks
Bukit Batok Crescent, Singapore-based fruit and produce firm Sunmoon Food Company has agreed to buy $250,000 (S$317,200) worth of stocks in Nevada, US-based beverage company True Drinks Holdings at $4 apiece.
Canadian Pension fund to open Sao Paul office in April to bolster real estate and infrastructure investments
The Canadian Pension Plan Investment Board will be opening an office in Brazil in April to bolster its investments in the real estate and infrastructure sectors, Reuters reported.
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The most active venture capital investor last year is 500 Startups with 57 new deals made and 77 total deals in all, data from DJX VentureSource revealed.
Cambridge, Massachusetts-based firm PillPack has raised $4 million in venture funding last year to launch its online pharmacy service in 31 states in the US to help patients manage their medications.
Sony Corp is discussing with buyout firm Japan Industrial Partners for a potential sale of its loss-making Vaio personal computer business, a source interviewed by Reuters said.
Germany-based sporting goods maker Adidas AG has filed a lawsuit against Under Armour Inc for allegedly infringing on its patents related to mobile fitness, Bloomberg reported.
Toronto, Canada-based games creator Big Viking Games seeks to buy back Yoville from Zynga in a bid to avoid the game's early death, since the latter announced it would shut the game down on March.
Boston, US-based app analytics and marketing platform Localytics secured $16 million in a Series C funding round led by Foundation Capital for its product development and international expansion.
Chilean regulators have removed the accreditation of Universidad de las Americas, a university owned by Laureate Education where the honorary chancellor is former President Bill Clinton, Bloomberg reported.
Boulder, Colorado-based startup TeamSnap scored $7.5 million in a Series B funding round to develop its app that helps sports coaches and league officials manage the schedule of their sports teams.
California, US-based enterprise software startup Elementum, a spinoff from Singaporean firm Flextronics International Inc, bagged $44 million in a Series A funding round led by Lightspeed Venture Partners for a cloud-based supply chain tracking software.
