Stripe has raised a $6.5B funding round to complete tax obligations regarding employee equity awards. The funding was raised at a $50B valuation. More: - Stripe is a fintech company that enables businesses of all sizes to accept payments on the internet.
- Some of its clients are:
- Amazon,
- Ford,
- Salesforce,
- BMW,
- OpenAI, etc.
- The funds raised will be used to provide liquidity to current and former employees so that the company can complete tax obligations related to equity awards.
- The company claims that it does not need this capital to continue operating.
- This funding round was led by investors such as Andreessen Horowitz, Goldman Sachs, Founders Fund, Thrive Capital, Baillie Gifford, General Catalyst, MSD Partners, GIC, and Temasek.
- Stripe was valued at $95B in 2022.
- The company's main offices are in San Francisco and Ireland.
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Arrival has raised a $295M funding round to manufacture EVs for cheaper than currently possible. The company is based in London. More: - Arrival is an EV manufacturing company that specializes in the production of vans, buses, and cars.
- The company claims its unique design and manufacturing method allows it to build software and physical components more inexpensively.
- Arrival aims to use the funding to boost its production and expand to new markets.
- The company has set out several goals in 2023, such as:
- Reducing its workforce to fewer than 800 by the end of the year.
- Building 10 Vans in the Bicester micro-factory
- Start manufacturing in Charlotte by the end of 2024, etc.
- Westwood Capital led the funding round.
- Since its inception in 2015, the company has raised almost $1B.
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Element8 has raised a $200M funding round to provide telecommunication services to rural markets. The company claims it does not track user activity. More: - Element8 offers broadband connection services that range from 60 Mbps to 120 Mbps.
- The company aims to differentiate itself by offering tailored packages for its clients and not tracking user activity.
- This funding round will be used to accelerate growth, complete more acquisitions, and expand its infrastructure.
- Digital Alpha led the funding round.
- The company is based in Fort Worth, Texas.
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Fairmatic has raised a $46M funding round to improve the car insurance underwriting process through AI. Fairmatic claims its software can help insurance companies analyze risk factors better. More: - Fairmatic claims that fleets save up to 20% using its AI-powered platform.
- According to company officials, Fairmatic's AI predictive risk model has been trained using over 200 billion miles of driving data.
- In order to protect the privacy of its users, Fairmatic uses anonymous data and doesn't retain driver information without permission.
- Battery Ventures led the round with participation from Bridge Bank.
- Since its inception in 2019, the company has raised $88M.
- The commercial auto insurance industry is estimated to reach $307.10B by 2030.
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💵 Today's funding: Healthcare tech - Clever Care Health Plan (California), a Medicare Advantage health plan company: $42M C led by GV, with participation from Point32Health, Norwest Venture Partners, Health Velocity Capital, Prudential Ventures, Brighton Health Partners, Windham Venture Partners, Figure 8 Investments, and AV8.
Biotech - Protai (Israel), a drug discovery company that maps conditions at the protein level: $12M Seed led by Grove Ventures and Pitango HealthTech with participation from Maj Invest Equity Fund.
SaaS - Zed Industries (California), a multiplayer code editor: $10M A led by Redpoint Ventures, with participation from Root Ventures.
- Nexoya (Germany), a platform that automates and optimizes advertising budgets for digital marketing: $5M A led by BlackSheep MadTech Fund, managed by Eureka! Venture SGR.
Hardware - QuadSAT (Denmark), provides drones to troubleshoot radio frequency issues: $9.5M Growth led by IQ Capital with participation from Seraphim Space, Vækstfonden, and angel investors.
Gaming - Genpop Interactive (California), an independent game studio: $6.5M Seed led by Makers Fund, with participation from 1Up Ventures, Good Smile Company, and Studio TRIGGER.
Cybersecurity - Monarx (Utah), provides a security tool for web hosting: $6.1M Growth from Kickstart Fund, Pelion Venture Partners, and Crosscut Ventures.
Insurtech -
Monitaur (Massachusetts), aims to help insurance companies use AI more efficiently: $4.6M Growth led by Cultivation Capital with participation from Rockmont Partners, Presidio Ventures, Plug and Play, and Studio V.
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- California-based Healium, a company that aims to help users treat their anxiety, has raised $3.6M in a Seed round. Impact Venture Capital, Ambition Fund II, Captain Partners & Astronaut Holdings, Citrine Angels, Coact Capital, Gaingels, KCRise Fund, Mayo Clinic, Missouri Technology Corporation, QRM Capital, Stadia Ventures, Tidewater Capital, and Underdog Ventures participated in the round.
- Eventum Orthopaedics has raised $3M. The British company provides a knee replacement surgery device that lets orthopedic surgeons record the strength of a person’s quadriceps muscle.
- VivaWell, a Mexico-based AI-powered wellness company, has raised $1.6M in a Seed funding round.
- Altruist has acquired the brokerage platform Shareholders Service Group for an undisclosed amount.
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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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