Daily coupon website Groupon is in fund-raising mode, seeking a round of venture capital that could value the start-up at as much as $3 billion, Reuters reported, citing Bloomberg News. Groupon, which sends members daily emails about coupons for products and services, will use the money to expand beyond the 230 cities where it currently operates. The company is currently backed by investors including Accel Partners and New Enterprise Associates.
1 min read · 09 November 2010
eByline, an online marketplace for freelance journalists and publishers seeking content, has raised $1.5 million in Series A financing from the E.W. Scripps Company. Based in Los Angeles, eByline launched its service in September, and has partnered with journalism nonprofit organization ProPublica and with Cars.com. The company previously raised seed financing from undisclosed angel investors.
3 min read · 09 November 2010
Venture fund 3i India Infrastructure Fund will lead a 12 billion rupee ($270 million) investment in GVK Energy, a unit of GVK Power & Infrastructure, Reuters reported. The investment amounts to a 21.1% stake in the business unit. According to Reuters, 3i India will invest 8 billion rupees ($180 million), and the remaining 4 billion rupees ($90 million) will come from an undisclosed firm.
2 min read · 08 November 2010
Diagnostics company MTM Laboratories has expanded its Series C round, raising an additional 7 million Euro and bringing the total raised to 46 million Euro ($63 million). Heidelberg-based MTM Laboratories will use the additional financing for clinical trials and commercialization of its technology, which is designed for early detection and diagnosis of cervical cancer. The Series C financing was led by HBM BioVentures, Wellington Partners and Gilde Healthcare Partners; and included investment from National Technology Enterprises Company, Heidelberg Innovation and private investors.
4 min read · 08 November 2010
RedHill Biopharma said it has raised $10 million in new financing from investors including Fidelity's VC biotechnology fund, Rosalind Capital and individual investors. Tel Aviv-based RedHill focuses on the acquisition and development of late clinical-stage drugs. The company also said it was considering an initial public offering on the Tel-Aviv stock exchange.
3 min read · 08 November 2010
Beijing-based online retailer Vipshop has raised $20 million in a first round of funding from Menlo Park, Calif.-based venture firms DCM and Sequoia Capital. Formed in 2008, Vipshop focuses on so-called “flash sales,” offering low-priced, name-brand items for sale for a limited time period. The company has more than 1.5 million members in China and will use the financing to expand its marketing and infrastructure.
5 min read · 08 November 2010
Venture fund 500 Startups has put an undisclosed amount into Japanese peer-to-peer lending service Exchange Corporation. Tokyo-based Exchange Corporation, whose service AQUSH allows people to borrow money at lower rates than they would get from traditional banks, will use the funding to expand its business. Mountain View, Calif.-based 500 Startups is an early stage investor and incubator formed by Silicon Valley investor Dave McClure.
2 min read · 05 November 2010
Online retailer Exclusively.In, which sells Indian-style fashion and jewelry, has raised $2.8 million from Accel Partners India and Mauritius-based Helion Venture Partners. Exclusively.In launched just five months ago, and will use the money to expand its marketing and technology platform. As a result of the funding, Ashish Gupta of Helion Venture Partners and Prashanth Prakash of Accel Partners India will join the company’s board.
5 min read · 05 November 2010
San Francisco-based gaming startup Rocket Ninja has inked a $3.5 million Series A round from unnamed investors. The company, which recently launched its first product, “Ocean Kingdom,” on Facebook, is developing 3D social games that consumers can play inside Web browsers.
3 min read · 05 November 2010
American Express will pay $150 million for venture capital-backed anti-fraud software company Accertify, Reuters reported. Accertify helps merchants prevent fraud on online purchases, and is backed by venture investor Intel Capital. The acquisition will close during the fourth quarter of 2010, Reuters reported.
1 min read · 04 November 2010
