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Recap: Worldwide fundraising newsA summary of recent fundraising closes from around the world, with Excel tables
B2B heats up as VCs grow skittish about consumer startups: Reuters(Reuters) Tech startups aimed at businesses rather than consumers are winning more funding from increasingly wary venture capital investors who want to see a return on their cash sooner rather than later. This shift has enabled Soundtrack Your Brand, which plans a U.S. launch this year, to secure $11 million to back its tailor-made music playlists for companies with deep pockets like Starbucks and McDonald’s.
Relay Ventures invests in Luma's $12.5 mln Series A roundLuma, an Atlanta, Georgia-based developer of surround WiFi for the home network, has raised US$12.5 million in a Series A financing. The round was led by U.S. venture capital firm Accel, with a significant investment from the Amazon Alexa Fund. The startup's existing investors, including Canadian venture capital firm Relay Ventures, also participated. Luma, which recently acquired /canada/2016/1/relay-ventures-backed-luma-acquires-nodal-industries/ Nodal Industries, said it would use the funds raised to satisfy customer demand for its product, expand global operations, and continue research and development.
Luma raises $12.5 mln; Series A round includes Amazon Alexa FundLuma, the Atlanta producer of Surround WiFi for the home, raised $12.5 million of Series A financing. The round was led by Accel and reflected a “significant” investment from Amazon Alexa Fund. The additional new investors included David Dorman, former CEO of AT&T and 500 Startups. Reinvesting were Felicis Ventures, Base Ventures, BIP Capital, Relay Ventures, and Webb Investment Network. Luma said in a statement that it would use the funds to meet demand for the system, expand operations and do R&D.
BDC Capital to partner in festivals for VC ecosystem playersCanadian venture capital firm BDC Capital has agreed to partner with Startupfest in a series of festivals. Held in the Startupfest village in Montréal's Old Port, the events will aim to share knowledge and best practices, expand networks, and enhance collaboration between key players in the venture capital ecosystem. These will include startup founders, venture capital funds, angel investors and accelerators. The festivals will take place on July 13th.
- Toptal buys Skillbridge
Toptal, which is backed by investors including Andreessen Horowitz, has acquired Skillbridge. Financial terms weren’t announced. San Francisco-based Skillbridge is an online platform for business freelancers.
- Video advertising provider Virool raises $12 mln
San Francisco-based Virool, a provider of a video marketing platform, has raised $12 million in Series A funding from Menlo Ventures, Yahoo Japan, Flint Capital and 500 Startups. The company, which is a graduate of the Y Combinator incubator program, previously raised $6.62 million in seed-stage funding from VC firms and individuals, including FundersClub, Troy Carter and Farzad "Zod" Nazem.
- 500 Startups launches $30 mln Canadian fund
500 Startups continues its push to find and back startups worldwide by launching a $30 million Canadian fund. 500 Canada plans to make more than 150 investments in early-stage startups in the country over the next few years. Audiobooks founder Sanjay Singhal will lead Ontario-based 500 Canada. Singhal is a founding board member of the Canadian angel investment group Angel One and has backed more than 30 Canadian companies as an angel investor.