2018 Begins With Epic Developments in Venture Capital

With the new year comes top venture capital deals to whet your appetite.

Some of the world’s biggest names are on the move, raising funds and snapping up other companies. The impetus behind all the action is to position these companies to make better inroads toward their goals as well as to diversify their holdings.

Below are just a few of the recent actions that made the financial world take notice.

Daimler Made Further Inroads in Ridesharing

Following the previous example it set in both Germany and Dubai, Daimler, the parent company of Mercedes Benz acquired Chauffer Prive. This French Uber competitor joins Germany-based Daimler’s stable of investments in Careem, the Dubai-based rideshare company and its purchase of Flinc, a German app.

This tactic is similar to the one practiced by other automakers as they seek to fend off competition from other carmakers like BYD and Tesla as well as tech giants like Google’s parent company, Alphabet.

Didi Chuxing Raised Significant Funds

Didi Chuxing, the Chinese ride-hailing giant, raised more than $4 billion during its latest funding streak. According to Reuters, the company is now valued at over $50 billion. Setting its sights on an expansion into Mexico and Taiwan during 2018, Didi Chuxing also boasts a Silicon Valley office dedicated to artificial intelligence (AI) development and research, placing it in direct competition with Uber for more than just passengers and drivers.

The company, whose backers include Alibaba, Apple and SoftBank Group, will be competing with Uber for its tech talent as well. With these resources and its far-reaching aspirations, Didi Chuxing is poised to not only compete with Uber but to also surpass it in the global market.

Amazon Purchased Blink

Blink, which started its incorporated life being known as Immedia Semiconductor, is a Boston-based startup that is being acquired by Amazon. Though the deal’s terms weren’t disclosed, it is known that the acquisition includes the entirety of Immedia Semiconductor and not just the Blink brand.

David Aronoff, a member of Blink’s board as well as an investor, noted that Blink makes wireless home security devices. These products — which include an internet-connected doorbell and a camera — are compatible with the Amazon Echo. Another element that adds to the popularity of Blink’s devices is that they are designed to work well in low-light environments, are affordable when compared to devices from competitors and can be powered for about two years on just two replaceable AA lithium batteries.

With this acquisition, it’s likely that Amazon will be increasingly competitive with Google and the security systems it markets under its Nest brand.

SoftBank Group Invested in Lemonade

SoftBank Group not only invested in Didi Chuxing — as well as Uber — but was also a leading investor in a $120 million fund for Lemonade. This New York-based startup is designed to provide United States renters and homeowners with the ability to quickly located and purchase casualty and property insurance.

Other features of the app include the ability to file any claims and get paid via mobile in only minutes. With the investment from SoftBank Group, Lemonade has secured capital from Sound Ventures, XL Innovate, Aleph, General Catalyst, Sequoia Capital and GV, the venture arm of Google.

FarmWise Raised $5.7 Million

FarmWise, a company that has designed an autonomous weeding machine, raised $5.7 million in funds from investors such as Felicis Ventures, Valley Oak Investments, Basis Set Ventures and Playground Global. Bruce Leak, the inventor of QuickTime, joined the FarmWise board of directors. Sebastien Boyer, the co-founder of FarmWise and its CEO, noted that the technology in use by the company could help reduce the number of herbicides used on farms or even eliminate it altogether. This is not only good for the water supply and the earth in general, it could prove to be advantageous to organic farmers as well.

With these kinds of venture capital deals sprouting at the end of 2017, the next year promises to be one of exciting growth and innovations. The global landscape of business will continue to change as technology fuels cutting edge research and forward-thinking companies jockey for position in their respective industries.

Regards,

Ethan Warrick
Editor
Wealth Authority


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