Deals That Matter
Here’s a round-up of the most important deals in venture capital from the past week.
Puls Technologies raised $50 million for its same-day repairs service. Puls (pronounced “pulse”) sends technicians to a customer’s home to fix cracked or otherwise damaged smartphones and tablets, or to install items like entertainment systems, smart speakers and automated garage door. Temasek led the round, which was joined by the company’s earlier backers including Sequoia Capital and Samsung NEXT.
Yihang.ai, a Beijing start-up that’s developing autonomous vehicle technology, raised $32 million from investors including Matrix Partners China and CICC, a joint venture investment bank in China. The company aims to become a tier 1 supplier to auto manufacturers that plan to offer self-driving cars.
A financial tech startup, Salary Finance, raised $20 million in series B funding from Legal General and Blenheim Chalcot. The company works with medium-sized and large corporations to offer employees financial education and loans as a benefit. Employees can set up automatic payments deduced from their paychecks. The ability to get a loan at work and make automatic payments reduces employees’ need to turn to predatory or payday lenders, and helps them avoid spending too much on interest.
Singulato, which is developing smart electric vehicles, has reportedly raised around $9 million from Itochu, the Japanese trading company.The funding is a small, strategic investment in Singulato, which raised around $474 million in a series C round in April. The company plans to start manufacturing and selling its first car, an electric SUV called the iS6, by the end of 2018 in China.
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