Reuters News
A tech fund backed by Japan's SoftBank Group has picked up one of the biggest stakes in India's leading homegrown online retailer Flipkart, Reuters reported.
Bristol-Myers Squibb Co said it would buy privately held IFM Therapeutics for an upfront payment of $300 million, as the drugmaker looks to bolster its cancer portfolio after losing ground to Merck & Co's rival treatment Keytruda.
Hong Kong-based bike-sharing platform Gobee.bike has raised $9 million in Series A funding. Grishin Robotics led the round with participation from Alibaba Hong Kong Entrepreneurs Fund,
Reuters reported.
Unilever has invested in German start-up Helpling, a website for booking home cleaners, its latest effort to test new businesses as technology changes ways of selling packaged goods, Reuters reported.
The bloom is off seed funding, the business of providing money to brand-new startups, as investors take a more measured approach to financing emerging U.S. technology companies.
Chinese ride-hailing company DiDi Chuxing is investing an undisclosed amount in Estonian online taxi firm Taxify to help it expand in Europe and Africa, where it has gained share in some cities against U.S. player Uber, Reuters reported.
Germany's Volocopter said it has received 25 million euros ($30 million) in funding to develop an electric flying taxi, with car and truck maker Daimler among the firms providing fresh cash.
The bloom is off seed funding, the business of providing money to brand-new startups, as investors take a more measured approach to financing emerging U.S. technology companies, Reuters reported.
India's Snapdeal said it had decided to remain independent and was ending all talks regarding a sale, bringing the curtain down on months of discussions around a possible acquisition of the e-commerce business by bigger rival Flipkart, Reuters reported. The board of Jasper Infotech, which runs Snapdeal, had agreed in principle to Flipkart's revised buyout bid of up to US$950 million and a deal was pending approval of smaller shareholders, Reuters previously reported. But obstacles remained with sources saying founders Kunal Bahl and Rohit Bansal were considering an alternate path. Snapdeal's investors include Ontario Teachers' Pension Plan, which led a US$200 million financing of the company last year.
Chinese startup Ofo is in talks to raise $1 billion in a new funding round led by Japan's SoftBank Group, sources told Reuters, in what would be the largest fund-raising in the nation's bike-sharing business.