News about Silicon Valley business almost everyday.
SAN FRANCISCO — Observable, a data collaboration company, has closed a $35.6 million Series B funding round led by Menlo Ventures. Existing investors Sequoia Capital and Acrew Capital also participated in this round, which brings the total invested capital to date at $46.1 million. Observable has developed a collaborative, web-based platform for data practitioners to help them make […]
SAN JOSE — Bridge Bank announced its Capital Finance Group has closed on a $10 million asset-based loan facility for Zuum Transportation Inc., an Irvine-based logistics technology provider for manufacturers, freight brokers and carriers. “It’s rewarding to work with a company like Zuum that is making a difference for such a great stable of internationally […]
SAN FRANCISCO — Brex, a company providing financial services for startups, has raised an additional $300 million in a Series D-2 round led by Greenoaks Capital and Technology Crossover Ventures (TCV). Brex has also hired Karandeep Anand as the company’s Chief Product Officer. Anand brings extensive product leadership experience to Brex, and most recently led […]
SOUTH SAN FRANCISCO — Freenome, a privately held biotech company, announced that Swiss healthcare giant Roche has made an investment of $290 million, bringing Freenome’s total funding to more than $1.1 billion since the company was founded in 2014. This funding follows Freenome’s recent Series D financing of $300 million in December. Detecting cancer early, when it’s most treatable, improves […]
NEWARK — Qnovo, a developer of battery management software, has closed $24 million in Series-C financing. BorgWarner led the round with significant participation by OGCI Climate Investments and Constellation Technology Ventures. Existing investors U.S. Venture Partners and RockPort Capital also participated. The company, which is in advanced vehicle qualifications with several global passenger and commercial electric […]
SAN FRANCISCO — Envoy, a workplace platform that helps companies reopen safe and flexible workplaces, has secured $111 million in Series C funding led by Brookfield Growth, with participation from existing investors Menlo Ventures, Andreessen Horowitz, Initialized Capital, Haystack, and new investors BAM Elevate, Seven Seven Six, Triple Point Capital, Elad Gil, and others. This […]
REDWOOD CITY — Presto, a provider of technology for the restaurant industry, has been selected by Checkers Drive-In Restaurants, Inc., the operator of Checkers & Rally’s iconic drive-thrus, as the exclusive provider of automated voice ordering for all its corporate-owned drive-thru restaurants. The announcement marks the largest and first of its kind rollout of an […]
MOUNTAIN VIEW — Autonomous vehicle company Nuro has unveiled the third-generation of its autonomous delivery vehicle. As the most advanced zero-occupant vehicle designed by the company to date, the new flagship model, simply called Nuro, is expected to expand to millions of people across the country. Nuro’s third-generation vehicle is designed to carry more goods […]
Volvo Cars plans to use technology from Luminar, a developer of automotive lidar hardware and software technology, in its upcoming all electric next generation SUV. The announcement was made at last week’s CES event in Las Vegas and also marked the North American debut of the automaker’s Concept Recharge, a manifesto for Volvo Cars’ future, […]
SAN FRANCISCO – Little Otter, a digital mental health company to provide tools and treatment for both children and their families, has closed a $22 million Series A funding round. The round was oversubscribed and led by CRV, with participation from Torch Capital, Vast Ventures, Hinsdale, Boxgroup, _Able, Carrie Penner Walton, G9, Springbank Collective, along […]
Meta, the company formerly known as Facebook, announced that Tony Xu [photo], co-founder and CEO of DoorDash, Inc., has been elected to the company’s board of directors, effective immediately. DoorDash is the nation’s leading food delivery service with over 3 million drivers — also known as dashers — picking up and delivering from restaurants, convenience […]
SANTA CLARA – Venture investment in healthcare reached new heights in 2021, with more than $80 billion invested in biopharma, medical device, diagnostics/tools (dx/tools) and healthtech companies, according to Silicon Valley Bank’s annual Healthcare Investments and Exits Report. The more than 30% increase over 2020’s record is punctuated by a banner first half of the year. “Venture […]