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NY based lending startup Applied Data Finance raises $145 million for its financial services

Online lending and financial services startup Applied Data Finance (ADF) has now closed on a $145 million round of funding from several investors to widen its financial service ecosystem. This round which came in form of both equity and debt is earmarked towards ADF's growth and expansion to more individuals with its Personify Financial platform. ADF has now raised over $275 million since its inception 4 years ago with over $100 million in loans made so far and 180 employees across U.S. and India. “Since we founded ADF, we’ve employed an unrelenting focus on careful testing and risk management. We view this successful fundraising as a validation of that approach, and we are now poised to accelerate the growth of our business,” said Krishna Gopinathan, Co-Founder and Chief Executive Officer at ADF. ADF stands as a financial partner for thousands of consumers and combined with innovative data science and machine learning is keen towards providing its customers with s

IoT startup Tuya gets $200 million Series C investment from Australian sovereign wealth fund and others

image credit : Tura Chinese Internet of Things solution startup Tuya has now raised $200 million in funding from the Australian Government Future Fund and other investors including New Enterprise Associates, CICC, China Broadband Capital and others. This $200 million figure places this round as one of the largest in the IoT space with Tuya which was started 4 years ago by former employees of Alibaba's cloud division gaining very deep and large capital to extend its services and product ecosystem. Tuya currently offers smart software for power accessories, smart lightning, surveillance, kitchen and household appliances in combination with enviromental health providing users with an inter-connected smart platform where several devices in the home are controlled easily through the use of mobile devices which provides a smart experience for several homes. Tuya stands as a one-stop IoT service provider for device manufacturers who link its hardware with Tuya's IoT sof

Chinese autonomous navigation company Wayz.ai raises $80 million

image credit : Wayz.ai 1 year old Autonomous driving, smart location and mapping service startup Wayz.ai based out of the Chinese province of Hubei and founded by Chinese popular video streaming service PPTV co-founder Vincent Tao has now raised $80 million in its first disclosed round of funding from yet unnamed investors to scale its efforts. In the rapidly growing self-driving industry, Wayz provides maps for Levels 3 and 4 autonomous vehicles being a crucial part of its transportation system and providing smart services through the application of Artificial Intelligence and robotics. The Chinese startup offers a real world database providing a location map with massive and in-depth information with a location graph which links people, objects and things across the map for autonomous vehicles to understand better and ride safer. Wayz's team according to its website consists of several members from the likes of Uber, Google, Microsoft, Qualcomm and Baidu among othe

Facebook sets up Chinese subsidiary

  image credit : Flickr/Quintano Media According to a recent filing with China’s National Enterprise Credit Information Publicity System, Facebook has set up a subsidiary in mainland China by name of Lianshu Science & Technology (Lianshu literally means "face" and "book" in Chinese language) with initial registered capital of $30 million for the entity which lists as the only shareholder. This move indicates of Facebook looking to boost its presence in the region where its services are officially blocked due to Chinese strict censoring laws and digital regulations. Facebook's application for the subsidiary was approved just 6 days ago July 18th to be precise and shows that it may be looking for new ways to tap into the Chinese market where its array of internet services consisting of Facebook itself, Instagram, Whatsapp and its other platforms are blocked. Facebook Vice President and Deputy General Counsel David Kling along with the company's Chief

Auto Insurance startup Metromile raises $90 million in Series E funding round

image credit : Metromile San Francisco based auto insurance startup Metromile has now closed a Series E funding round totaling $90 million led by Japanese insurance giant Tokio Marine Holdings and Intact Financial with participation from Index Ventures, New Enterprise Associates, Future Fund and former Google Ventures CEO Bill Maris's Section 32. Metromile plans to make use of this investment to "expand pay-per-mile insurance and simplify every step of the insurance experience through the use of artificial intelligence (AI) in claims processing." This funding round brings the total raised by the 7 year old insurance startup to $295 million with Metromile also counting other notable previous backers including First Round Capital, Felicis Ventures, SV Angel and China Pacific Insurance. Metromile makes use of a pay-per-mile insurance model which implies customers paying for insurance based on the actual miles driven which would see consumers save more cash a

Alphabet's Q2 Earnings tops Wall Street estimates and analysts

  image credit : Flickr/ Carlos Luna Google parent and tech giant Alphabet just recently outed its Q2 results  with its revenues topping financial analysts predictions showing very good net income even with the recent $5 Billion fine  imposed on the company by the European Union. Google's advertising business which currently makes up the major part of its revenue grew 24% boosting the company's revenue to $11.75 a share excluding fines which counts as nearly $2 over estimates made by several Wall Street analysts. Alphabet netted $32.7 Billion in second quarter revenue and $3.2 Billion in profits even with the fine which shows very good growth for the company which would have had $7.9 Billion in profits without the fine up from its profits of $6.9 Billion in Q2 last year. Google's ad business netted $26.24 Billion in revenue excluding partner payouts which also topped several analyst estimates of about $25.55 Billion with this contributing to a good part of the

Pinterest on track for $1 Billion in revenue this year with aimed IPO for mid 2019

  image credit : Flickr/TechCrunch Social Media platform Pinterest has now been reported to be on track to hit $1 Billion in revenue this year doubling its $500 million sales of last year and aiming for an IPO in the second quarter of next year. This was made known recently by CNBC  in a write-up which states of 9 year old Pinterest having found good success with mobile ads as the social bookmarking site becomes a mainstream place for users looking for stuff to buy and advertisers alike consisting of several big brands looking to reach Pinterest's over 200 million monthly users. Pinterest which has raised $1.5 Billion in total funding since its inception now aims to go public next year and would see the San Francisco based startup join the likes of fellow highly valued unicorns including Uber and Airbnb which are considering holding IPOs next year. Pinterest's most previous major funding round gave the company a valuation of $12.3 Billion which places it among t

Tesla responds to reports concerning Supplier refund request

  Tesla Following several reports of EV maker Tesla calling on suppliers to return parts of payment made to them for delivered products in a bid for profitability, Tesla has now said it asked just a small number of suppliers to reduce on-going long term projects in order to improve its cash flow. The reports of Tesla asking for returns from its suppliers sparked investor concerns over the company's ability to turn profits which led to Tesla's stock going down by as much as 6.6% during trading today. The report first came from The Wall Street Journal  which reviewed a memo sent by Tesla last week to global suppliers indicating the EV maker requested what it said was a meaningful amount of its money made since 2016 in a bid for Tesla to be profitable.    Investors and financial analysts in reaction to this have stated concerns over Tesla's ability to turn profits with the company now in a critical production stage churning out its Model 3 vehicles at th

Rocket Internet prepares to raise new Billion dollar fund for U.S. Investments

Rocket Internet Group MD Alexander Kudlich   image credit : Rocket Internet European major Internet company and investor Rocket Internet, The firm behind the growth of several global internet startups including Jumia, Home24, Delivery Hero, Nestpick, HelloFresh and the Global Fashion Group among others has now been reported to be planning a new Billion dollar investment fund to be focused on startups in the U.S. region making it a major play for Rocket Internet which does most of its business outside the region. As penned by Bloomberg  citing a person familiar with the situation, The fund is targeted to be in the  $1-$2 Billion range and could be closed as soon as December for Rocket to start delivering new investments. The investment fund is earmarked to be lead by Global Founders Capital partner and former Airbnb executive Don Stalter along with Rocket Internet's Senior Vice President for Investments Soheil Mirpour who also holds a Senior Director position at Global F

Indian ride-hailing Unicorn Ola Cabs aims for an IPO in 3 years time

image credit : Ola Cabs Indian ride-hailing Unicorn Ola Cabs is preparing and plans to go public in as soon as 3 years from now according to its co-founder and CEO Bhavish Aggarwal stating at a recent event held in the Indian city of Bengaluru where he spoke to an audience. Ola Cabs recently just hit operational profitability and is stated by its CEO Aggarwal to have beaten Uber in the Indian region, both of this which stand as positive metrics for a planned IPO of the ride-hailing firm which has raised well over $2 Billion since its start counting Softbank, Tencent and DST Global as major investors and was valued at $7 Billion in its most previous funding round co-led by Softbank and Chinese internet giant Tencent. Ola Cabs has faced heavy competition from Uber in the Indian region and has fought to lead the ride-hailing space there and although its CEO states of Ola beating Uber in the region, There aren't clear metrics to measure which service surpasses the other as

Sonos expected to raise up to $264 million in IPO

    Sonos Wireless and smart speaker manufacturer Sonos which initially filed for a $100 million IPO  has now upped the amount it seeks to raise on the public market with the company now planning to sell 13.9 million shares at a price range between $17-$19 as stated in a recent regulatory filing raising up to $264 million in its IPO. Sonos was said to be seeking a valuation between $2.5-$3 Billion but at $19, It's total market value calculating from the number of outstanding shares stands to be $1.87 Billion when it makes a debut in the public market. Sonos had revenues of almost $1 Billion in its last fiscal year reporting $992.5 million amidst a net loss of $14.2 million in comparison with $901 million and a net loss of $38.2 million in the previous fiscal year. The company's metrics boosted this year as the company posted $655.7 million in revenue for the 6 months ending March this year whilst making a net income of $13.1 million. Sonos is wide

Alibaba set to participate in $600 million funding round for Chinese AI startup Megvii

image credit : Megvii Chinese AI startup Megvii, the developers behind the Face++ AI recognition system which tracks and analyzes faces for use in several industries has now been reported to be in the process of raising a funding round of at least $600 million with Alibaba set to be among the investors in this round. According to the report from Bloomberg , Megvii which last raised $460 million in a Series C round November last year co-led by Alibaba finance affiliate Ant Financial and electronics manufacturer Foxconn is set to close this funding round within weeks and also kick off an additional funding round citing people familiar with the matter. Megvii which has raised just over $600 million till date plans to use this investment to boost its retail initiatives with Megvii bringing its AI technology for use in several unmanned stores. Megvii's Face++ software notably makes use of a database operated by China's Ministry of Public Security containing legal iden

Boston Dynamics prepares to churn out 1000 robots annually beginning from next year

image credit : Boston Dynamics Softbank owned Robot manufacturer Boston Dynamics is now preparing to deliver its products for commercial use as the company which announced its intentions to take its agile and smart robots to the mainstream market is now geared towards producing its SpotMini (pictured above) robot at the rate of around 1,000 units per year according to its founder Marc Raibert who leads the company's efforts currently. Raibert states the SpotMini which is just one of its several robots is currently being tested for application and use in various tasks including use in delivery, security, home assistance and construction purposes. “We’ve built ten by hand, we’re building 100 with manufacturers at the end of this year, and at the end of 2019, we’re going to begin production at the rate of about 1,000 a year,” said Raibert with the company also aiming to make its product as a popular open-source platform which provides more innovation and foundation for further

E-commerce company JD reported to be planning entry into the European Market

image credit : Flickr/ Daniel Cukier Chinese e-commerce company JD.com and third largest global internet company by revenue now has plans to expand into the European region according to a new report from Reuters  citing JD Ceo Richard Liu's statement to a German newspaper. German newspaper The Handelsblatt Daily reported of the CEO stating JD's plan to open an office in Germany by the end of this year which will mark the company's foray into the European space as part of its global expansion beyond its main Chinese region. JD's moves to expand beyond the Chinese and South East Asian region has been noticed in recent times with JD just last month inking a partnership with Google as part of both companies efforts to grow beyond its main bases which also saw Google take a strategic $550 million stake in the company. “For me it’s no longer just about selling products from Germany in China. I would also like to sell products in Europe,” Liu told the paper. “We

Chinese aerospace company Spacety nabs $22 million in Series B funding

Jiangsu based commercial aerospace startup Spacety has now closed a $22 million Series B investment round led by Legend Capital and also participated in by the likes of K2VC, Galaxy Holding Group, Maintrend Capital, Matrix Partners China and the Dianke Xinghe Fund. The company plans to use this investment to upgrade and develop its Micro Satellites which stands as its main focus as the aerospace startup continues to develop the satellites for several customers, 10 of which is states will be launching into space by the end of this year. Spacety which started 2 years ago provides cost-effective satellites and has seen four of its already developed micro-satellites launch into space with the company already pulling tens of thousands of yuan in revenue in its relatively short span of starting. China's commercial space industry has seen a boost in recent times as the Government has loosened restrictions on the commercial space industry which has led to several startups po

AI English learning startup LingoChamp aims for IPO at $2 Billion Valuation

image credit : Liulishuo Chinese AI learning startup LingoChamp also widely known as Liulishuo has now been reported to be planning an IPO in the U.S. as it aims to expand its online education business according to Bloomberg . The report cites several people familiar with the matter as LingoChamp is stated of aiming to raise $300 million on the public market with a targeted valuation of $2 Billion for the 6 year old startup which is planning to list as soon as the fourth quarter of this year. This IPO would see LingoChamp join the number of Chinese technology companies aiming to go public this year which include the likes of smart electric scooter startup Niu , Cango , Pinduoduo , Meituan Dianping and others. The AI learning startup last raised $100 million in funding July last year in a round led by China Media Capital and also participated in by Hearst Ventures, Wu Capital and renowned Chinese investing VC firms IDG Capital and GGV Ventures. According to its website

Eventbrite confidentially files to go public later this year

Eventbrite CEO Julia Hartz image credit : Flickr/TechCrunch Ticketing and Events startup and unicorn Eventbrite has now been reported to have confidentially filed for a public offering with the Securities and Exchange Commission for an IPO which would hold later this year and is stated to be led by Goldman Sachs and JPMorgan Chase. This report came from the Wall Street Journal just recently and indicates the online event management startup is set to join the long list of tech IPOs which have happened this year and also making a mark as one for a company led by a female founder. Eventbrite was founded in 2006 and has raised a total of about $330 million in equity funding from the likes of Sequioa, Tiger Global, T. Rowe Price, Tenaya Capital and others with its most previous funding round being $134 million private equity round the San Francisco based startup raised September last year. Eventbrite also completed an acquisition ticket distribution service Ticketfly f

Waymo's self-driving vehicles have driven 8 million miles on public roads

image credit : Waymo Alphabet's Waymo autonomous driving unit has now hit another main milestone as the company's lead John Krafcik just recently made known in an interview with Nevada Governor Brian Sandoval at the National Governors Association conference held in the city of Santa Fe, New Mexico. This statistic amounts to a figure of about 25,000 miles driven everyday by Waymo which makes it vehicle network way more experienced and being ahead of several competitors in the autonomous driving space. Last year November, Waymo announced its vehicles had clogged over 4 million miles on the road with this number now doubling in less than a year and also increasing by 1 million in the span of a month between June and July which counts a very good record as Waymo continues to make efforts to expand its vehicle fleet to boost up its autonomous efforts. Waymo has self-driven 8 million miles on public roads, now at a rate of 25K miles per day. This real-world experien

Chinese EV Startup Xpeng set for $4 Billion valuation amidst targeted $600 million raise

image credit : Xpeng Chinese electric car startup Xpeng Motors is set to reach a $4 Billion valuation even before it begins official sales of its vehicles with Bloomberg  reporting of the 4 year old startup's aim to raise $600 million this month from the likes of Alibaba, Foxconn and Xiaomi CEO Lei Jun in the hot EV market even after it's raised just over $700 million since its inception from a roster of major technology investors. Xpeng's backers include the likes of IDG Capital, Morningside, Shunwei Capital, YF Capital, Lightspeed, GGV Capital and aslo Alibaba who is earmarked to also invest in this aimed round. With the EV market being very hot in the Chinese and global region, Several EV startups and also major automakers have already churned out several electric vehicles for consumers with Xpeng now gearing to take on the likes of Nio, Tesla, BYD, Geely and other automobile manufacturers in the Chinese market. image credit : Xpeng Xpeng has already dis

NY based Geospatial intelligence startup Ursa nabs $5.7 million in Venture round

image credit : Ursa Geospatial intelligence network provider and geographical data analytics monitoring startup Ursa Space Systems has now raised $5.7 million in a venture round led by New York based VC RRE Ventures with participation from S&P Global and the Paladin Capital Group. The 4 year old startup plans to make use of this funding to develop new products in response to strengthened customer demand and also expand its current product ecosystem to serve new customers and different areas. This investment brings the total raised by Ursa which aggregates and perform analysis on in-depth data curated from a large network of satellites to provide market intelligence to over $12 million with the geospatial intelligence startup also notable for a Series A round October last year led by returning investor Paladin Capital which brought $7 million worth of funding for Ursa. Ursa whose main product as of current focuses on the oil supply chain is now looking to expand it

Proposed U.S. Tariffs could impact Apple, Fitbit, and Sonos prices

image credit : Fitbit  Several consumer devices which include the Apple Watch, various health trackers and streaming music speakers among others could be among those affected by the proposed U.S. Tariffs on $200 Billion worth of Chinese goods which would lead to increase in prices. As reported by Reuters , The rulings containing the details of the proposed tariffs names devices including the Apple Watch, Fitbit activity trackers and Sonos connect speakers among others while the region of mobile phones and laptops which represents the highest purchased consumer products face little danger of import duties so far. This tariffs could lead the manufacturers of these products with no choice than to increase the prices of these devices for millions of consumers in the U.S. The specific products listed in the tariff rulings consist of the Apple Watch, Fitbit’s Charge, Charge HR and Surge models; and Sonos’s Play:3, Play:5 and SUB speakers which are classified as "data tr

LA based Mobile game developer Jam City reportedly prepping for IPO

image credit : Jam City According to a new report from the Wall Street Journal , Mobile game developer Jam City is now preparing for an upcoming public offering which will see the 8 year old gaming startup debut on the public market with an aimed value of around $1 Billion according to the report. Jam City till date has raised over $150 million in funding and has been behind several titles including Harry Potter: Hogwarts Mystery, Family Guy Another Freakin' Mobile Game, Marvel Avengers Academy which was added through an acquisition and several others which have stayed as top grossing apps with its Family Guy title recently crushing the $30 million revenue benchmark. Jam City's most previous funding round stands as a very remarkable one with the Los Angeles based gaming studio which also counts locations across other cities raised $130 million in 2015 from South Korean major game publisher Netmarble. With 6 acquisitions so far and several hit titles, Jam City wh

Microsoft stock hits all-time high amidst impressive earnings and cloud computing boost

  image credit : Microsoft Software leader Microsoft just recently outed its Q4 results which recorded revenue of $30.09 Billion for the quarter beating Wall Street estimates of $29.2 Billion recording $110 Billion for the fiscal year while showing a whooping 89% growth for its cloud computing and processing unit which has sent its stock to an all time high of $108.20 a share early today with several brokerages and investment firms raising its price target for Microsoft higher for its stellar results. With the growing adoption of Microsoft's Azure cloud unit and its ever-increasing partnerships with various other technology companies and startups around the globe, Microsoft is poised to reap more profits from its cloud computing services which has grown enormously under the leadership of Satya Nadella who was appointed as CEO of the Redmond based software company February 2014 after a 22 year stint at the company. Nadella has been hailed as having done very well by a vast num

Softbank reportedly in talks to invest $1 Billion in AI Unicorn SenseTime

  image credit : SenseTime Behemoth technology investor Softbank is now said to be in talks to invest a large $1 Billion into Chinese AI unicorn SenseTime notable for having raised $1.22 Billion in funding this year alone having raised a total of $1.6 Billion while being the highest valued AI unicorn with a $4.5 Billion valuation. The report which first came from Bloomberg  citing people familiar with the matter states of the planned investment earmarked to come from Softbank's $100 Billion Vision Fund with the deal currently in finalizing stage. SenseTime raised $600 million April this year in a round led by e-commerce company Alibaba and just a month later nabbed another $620 million in an investment round co-led by financial powerhouse Fidelity and other investors with this deal making it the third major round for the company this year if it goes through as planned. In addition to Alibaba and Fidelity International, SenseTime also counts a roster of oth

Self-driving truck startup Embark raises $30 million

  Embark San Francisco based autonomous trucking startup Embark has nabbed $30 million in a Series B funding round led by Sequioa Capital and also being participated in by major startup incubator Y Combinator, SV Angel, Data Collective and Yahoo co-founder Jerry Yang's AME Cloud Ventures. This investment brings the total raised by Embark to $47 million with Sequioa partner Pat Grady also notable for other investments in various startups like Okta, data warehousing unicorn Snowflake, $1 Billion cloud communications startup Zoom and also Big Data startup Qualtrics joining Embark's board as the company aims to expands its input to develop a commercially viable driverless truck. Embark will now have to scale its operations in a market which will see the 2 year old startup compete with the likes of Waymo, Uber and other autonomous trucking startups looking to different approaches to make autonomous trucking a fully viable services for consumers. Embark initially launched

Galvanize is acquiring immersive coding school Hack Reactor as it closes $32 million Series C funding

  image credit : Galvanize Top technology workforce educator Galvanize has now announced it will be acquiring renowned coding school Hack Reactor in a move which will merge the two technology focused education providers into one of the largest co-working and accelerated education providers. Galvanize is also closing on its Series C round along with this move raising $25 million in addition to a previous $7 million raised in a round led by Catalyst Investors with participation from Maryland based VC New Markets Venture Partners along with other existing investors. Galvanize currently has locations across the cities of Austin, Denver, Boulder, Seattle, New York, Phoenix and San Francisco and has now raised a total of $117 million for its unique education service which has seen over 2000 graduates since its start with many of them heading to top tech companies and also starting companies of their own. Entrepreneurs among Galvanize's membership network has notably raised over

Uber Global Finance head is joining food delivery startup DoorDash as Chief Financial Officer

image credit : DoorDash Food delivery Unicorn DoorDash has now hired ride-hailing company Uber's Head of Strategic Finance Prabir Adakar as its Chief Financial Officer which will see Uber Global finance lead and former Goldman Sachs Vice President Prabir Adakar join DoorDash's executive team and lead the food delivery startup's financial operations. Prabid Adakar stands as Uber's top financial lead as the company hasn't had a permanent CFO for quite a time making this a very high-profile move as Adakar is set to bring his swath of financial experiences and networks to San Francisco based DoorDash which hit Unicorn status March this year after raising $535 million in a round led by Softbank at a $1.4 Billion valuation. Adakar would be joining DoorDash next month taking his position as CFO and will report directly to DoorDash CEO and co-founder Tony Xu . “Having spent over 40 hours in the past two months with Prabir, I can tell you that he’s got a sharp

Machine Learning startup Unisound gets $90 million in latest funding round

Image credit: Unisound Chinese AI and Machine Learning startup Unisound has just closed 600 million Yuan ($90 million) in funding as part of its Series C round from several investors which include internet security company Qihoo 360, Qiming Venture Partners, Hanfor Holdings and the China Ministry of Finance with this investment round now bringing the total raised by the 6 year old AI startup to $300 million. This investment notably came with a valuation of around $1 Billion for the company according to Caixin Global marking the latest entrant into the unicorn space. With AI growing rapidly around the globe, Unisound is part of the huge swath of companies looking to provide various machine learning and AI hardware and software solutions for application across vast industries such with the healthcare, automobile, manufacturing and other industrial sectors being a major part of the rapid growth. Unisound has continued to see high revenue growth over the years with the comp

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Deal: Workday Buys Ohio Startup Vndly For $510M

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Amazon, Apple Fined $230M For Reseller Collusion In Italy

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Alt-Meat Maker Impossible Foods Raises $500M In Fresh Funding

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Deal: KKR Makes $37B Buyout Offer For Telecom Italia

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Tech giant Apple (NASDAQ: AAPL) has filed a lawsuit against NSO Group , a controversial Israeli company that sells smartphone hacking tools and has been  implicated in the hacks and surveillance of many notable persons, including journalists, activists, and business executives, by state-sponsored actors. Apple has sued NSO Group for infecting iPhones with spyware to track users of interest. As part of the suit, the tech giant seeks a permanent injunction to ban NSO Group from using any Apple products. NSO Group is best known for its Pegasus spyware that can be covertly installed on mobile phones running most versions of iOS and Android. The company exploits vulnerabilities in both operating systems to introduce spyware into a phone without the user's knowledge. Pegasus was the center of a Washington Post investigation called "The Pegasus Project," revealing that the spyware was used to surveil over 1,000 identified notable individuals across countries with shoddy hu

Markets: Retail Giant Authentic Brands Scraps IPO Plans

Authentic Brands Group , a New York-based retail conglomerate, has suspended its plans for an initial public offering (IPO) after already filing an S-1 document with the US SEC. The company has instead opted to raise private funding to fund expansion in the main time. Authentic Brands Group's portfolio retail brands include apparel retailer Forever21 , men's suit maker Brooks Brothers , and department store chain Barneys New York . The company is akin to an old people's home where once-vibrant retail brands go to stay after they've gone past their peak. Authentic buys these befallen retail companies and makes money from what's left of them through licensing deals.  Over the years, Authentic has relied on hefty venture funding to assemble its constellation of old-guard brands. An IPO was supposed to raise even more money for expansion but has been set aside in favor of private funding.  Authentic is  rather selling  equity stakes to private equity firm CVC Capital

Markets: IoT Startup Samsara Files For IPO

The latest tech startup to board the IPO train is Samsara , a VC-backed startup that makes internet-of-things (IoT)-based fleet monitoring hardware and software for logistical operators. It has unveiled an S-1 filing with the US SEC, showing its intention to list on the New York Stock Exchange (NYSE). Samsara has raised nearly $1bn from VCs including Andreessen Horowitz, Tiger Global, and General Catalyst, with a valuation of $5.4bn from its last funding round. The company's co-founders sold a previous startup named Meraki to Cisco for $1.2bn . As expected, Samsara's S-1 filing gives a deep glimpse into the company's business with information not publicly disclosed before. The company has been rather secretive over the years, making this long-awaited information. We've extracted some important information so you don't have to, mostly the financial stuff. Samsara brought in $303mn in revenue in the nine months ended October 2021, compared to $174mn in the same