Avant has raised a $250M debt funding round to provide algorithmic-based loans and credit cards to the underserved community. The company has processed over $8B in loans since being founded. More: - Avant, a Y-Combinator alum, provides loans and credit card services through its online platform. These loans range from $2,000 to $35,000.
- The company claims it has helped 3 million citizens gain access to over 1 million credit cards and has processed over $8B in loans.
- This debt funding round was led by Ares Management Alternative Credit funds.
- Avant is based in Chicago, Illinois.
- Since its inception in 2012, the online lender has raised over $2B.
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Seattle-based First Mode has raised $200M to provide hydrogen-powered mine haul trucks. The company is now valued at $1.5B. More: - Anglo American, which led the funding round, will gain access to 400 of the company's haul trucks that have proprietary technology.
- The technology, named nuGen™, is only one component of the deal. The two companies also agreed to cooperate on infrastructure aspects such as refueling, recharging, and the facilitation of hydrogen production.
- NuGen technology is planned to be deployed in 15 years, provided that certain conditions are met by the companies.
- Anglo American, based in South Africa and active since 1917, is set to become a majority shareholder in First Mode once the deal is completed.
- First Mode was founded in 2018 and has raised $208M.
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French VC firm Iris has raised $115M to invest in early-stage European startups. The firm plans to close its fund once it raises $157M. More: - The company will deploy the funds to invest in Seed and Series A startups, while its average check size is expected to be anywhere from $1M to $8.4M.
- Some of the companies that backed this fund are Orange, Publicis, and Bpifrance.
- The fund, the company's fourth overall, will be named IRIS Venture IV.
- So far, Iris has invested in startups such as Shift Technology, Talend, Kyriba, Lumapps, Jedox, Exotec, Braincube, Forto, Spinergie, Virtuo, Yubo, Talon.one, Red Points, Scality, etc.
- Investments made by Iris are industry-agnostic.
- The firm wants to have another funding round in Q3 2023.
- Based in Paris, Iris has had over 30 exits.
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Sonatus has raised a $75M funding round to boost its automotive software solutions that aim to make cars cheaper and more reliable. The company provides its software to Kia, Hyundai, Genesis, etc. More: - Sonatus operates a platform called the Sonatus Digital Dynamics™ platform. According to the company, this platform configures and orchestrates vehicle behavior dynamically, enabling automakers to analyze data, add features, and remedy problems, all of which can be done without needing to update the software.
- The company plans to have its software run into millions of vehicles by 2023.
- Hon Hai Technology Group led this funding round.
- Based in California, Sonatus has raised $110M since being founded in 2018.
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Today's funding 💵 Fintech - MarginEdge (Virginia), a restaurant management and bill payment platform: $45M C led by Ten Coves Capital, with participation from Fiserv, and Derive Ventures.
- Tapline (Germany), enables companies to use their revenue as growth capital: $33M Pre-Seed debt and equity led by Fasanara Capital and V-Sharp Venture Studio.
SaaS - Elastic Path (Canada), provides comprehensive cloud and commerce software packages for enterprises: $30M Growth led by Sageview Capital.
- Wasabi Technologies (Massachusetts), provides cloud storage services: $15M D extension led by Azura, SiS Cloud Global Tech Fund 8, and Prosperity7 Ventures.
IoT - Unabiz (Massachusetts), provides massive Internet of Things services: $25M B led by SPARX Group.
Health tech - Rejoni (Massachusetts), develops commercial gynecological products: $25M B led by Catalyst Health Ventures, with participation from Ascension Health Ventures, Delos Capital, Sparta Group, Amed Ventures, and Iyengar Capital Partners.
- Ubie, Inc. (Japan), uses Artificial Intelligence to diagnose patients for different conditions: $19M C extension led by Sogo Medical.
Edtech - Uolo (India), a learning platform that provides lessons for low and middle-income families: $22.5M Growth led by Winter Capital.
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- Jellagen (U.K.), a biotech company that develops bio-regenerative products, raised a $10.6M Series A led by Cardiff Capital Region, Development Bank of Wales, and Thai Union Group PCL.
- California-based hybrid working software company Kadence has raised a $10M Seed round led by Kickstart Fund.
- Lightspeed Venture Partners led a $10M Seed round for XFactor, a San Francisco-based annual operations planning company.
- Hair care company Dae Hair has raised an $8M Series A funding round led by Verity Venture Partners.
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 |  | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. | |
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