US

VC-backed Deposit Solutions buys Savedo

Deposit Solutions said Aug. 14 that it has acquired Savedo. Financial terms weren’t announced. Savedo, of Berlin, provides a platform for retail deposits. Deposit Solutions has raised 25 million euros ($29.5 million) in venture capital funding from investors including Greycroft Partners, FinLab, e.ventures, Valar Ventures and Peter Thiel.

Raine and Temasek to invest in SoundCloud

The Raine Group and Temasek have agreed to invest in Berlin-based music and audio platform SoundCloud. No financial terms were disclosed. Also, Kerry Trainor will join SoundCloud as a CEO while Michael Weissman will become chief operating officer.

Carmel Ventures to raise a fifth venture fund

Carmel Ventures has set out to raise a fifth venture fund, according to a filing with the SEC.

SineWave Ventures adds new partner to team

Vivek Ladsarija has joined SineWave Ventures as a partner, he announced in a blog post. Previously, he worked at Fenox VC. Based in Washington, D.C., SineWave is an early-stage venture firm that backs promising technologies that can be used by the firm's commercial and public sector partners.

Netlify attracts $12 mln Series A

San Francisco-based Netlify, a hosting service for static websites, has raised $12 million in Series A funding, according to an blog post on its site. The investors were Andreessen Horowitz, Bloomberg Beta, Designer Fund and Tank Hill Ventures.

Auvik Networks grabs C$15 mln in OpenView-led Series B round

Auvik Networks Inc, a Canadian provider of network monitoring and management software for managed service providers, has secured C$15 million in a Series B financing. The round was led by OpenView with participation from Celtic House Venture Partners and Rho Canada Ventures. As a result, OpenView Partner Ricky Pelletier will join the board. The funds raised will be used for product development, partner initiatives, and growth into new markets.

Uber investor sues to force former CEO Kalanick off board: Reuters

Venture capital firm Benchmark Capital is suing former Uber Chief Executive Officer Travis Kalanick to force him off the board of the ride-services company and rescind his ability to fill three board seats, Reuters reported citing a lawsuit.

ClearSky collects $168.3 mln for maiden security fund

ClearSky has raised $168.3 million for its debut security fund, according to an SEC filing. The target is $300 million. ClearSky Security Fund I LLC will invest in companies that offer "transformative solutions" for the cybersecurity, industrial security and critical infrastructure security sectors.

Chinese startup Toutiao raising funds at over $20 billion valuation, say sources: Reuters

Chinese news aggregator Toutiao, backed by Sequoia Capital and CCB International, is raising at least $2 billion at a valuation of over $20 billion in its latest funding round, sources told Reuters.

Green Bits lands $2.2 mln

San Jose, California and Portland, Oregon-based Green Bits Inc, a retail management platform for the legal cannabis industry, has secured $2.2 million in funding. The backers included Casa Verde Capital.