Thursday, June 18, 2020
Apex Legends Cross-Play, on Nintendo Switch, Steam in Autumn 2020
Wednesday, June 17, 2020
PlayStation 5 Price Tipped and Release Date via Amazon France Listing
Google Sets 2025 Leadership Diversity Goal, Ends 'Tailgater' ID Checks
Twitter Introduces Voice Tweets, Initially Only for iOS Users
Zoom to Offer End-to-End Encryption for All Users, Trial to Begin in July
BPSC 65 CCE (Mains) 2020 – Apply Online for 65 Combined Competitive Exam
DroneBase nabs $7.5 million in a slight down round to double down on its work in renewable energy
DroneBase, a Los Angeles-based provider of drone pilots for industrial services companies, has raised $7.5 million during the pandemic to double down on its work with renewable energy companies.
While chief executive Dan Burton acknowledged that the company was fundraising prior to the pandemic, the industrial lockdown actually accelerated demand for the company’s services.
Even with the increased demand, the company had to make some changes. It laid off six employees and refocused its business.
“In the past three months it’s become clear that this is a moment for drones as an industry,” Burton said. “We were really pushing hard as a company, certainly on revenue growth and harvesting all the investments we made in technology and having a clear, near-term view to profitability.”
The new round, which closed in May, was a slight down round, according to people familiar with the company’s business.
“We see raising a growth round later this year,” Burton said.
New investors in the company included Valor Equity Partners and Razi Ventures, who joined Union Square Ventures, Upfront Ventures, Hearst Ventures, Pritzker Group Venture Capitla and DJI.
In all, DroneBase has raised nearly $32 million in financing, according to a company statement.
The new round will enable the company to focus on its data and analytics services that it has been developing around its core drone pilot provisioning technology — and gives DroneBase more financial wherewithal to expand its European operations under the DroneBase Europe, which operates out of Germany.
“DroneBase’s expansion into renewable energy reflects our belief in the growth potential of wind and solar energy industries,” said Burton in a statement. “Since many energy companies have both wind and solar assets, we are well positioned to leverage our DroneBase Insights platform to grow our global market share in renewable energy.”
The key application for DroneBase has been allowing wind power companies to monitor and manage their turbines, improving uptimes and spotting problems before they effect operations, the company said.
For solar power companies, DroneBase offers a network of pilots trained in infrared imaging to detect anomalies like defects or hot spots on solar panels, the company said.
“DroneBase has established themselves as the drone leader in the commercial market, and its new work in renewables will have a lasting impact on the future of energy by keeping infrastructure operational for generations,” says Sam Teller, Partner at Valor Equity Partners, in a statement. “We believe DroneBase will continue to be a valuable partner in drone operations and data analysis across a multitude of industries globally.”
Chinese e-commerce giant JD.com rises ~6% in its debut in Hong Kong after raising $3.9B (Bloomberg)
Chinese e-commerce giant JD.com rises ~6% in its debut in Hong Kong after raising $3.9B — - JD's listing followed NetEase's coming-out party a week ago — Alibaba, JD and NetEase bode well for future Chinese debuts — JD.com Inc. soared about 6% in its Thursday debut in Hong Kong …
Paytm signs new Noida office deal, eyes space in Bengaluru
Food delivery firms asked to cut offers, commission
Abacus Insights, which seeks to make health care data more interoperable in the US, raises $35M Series B led by Blue Venture Fund, bringing total raised to $53M (Katie Jennings/Forbes)
Abacus Insights, which seeks to make health care data more interoperable in the US, raises $35M Series B led by Blue Venture Fund, bringing total raised to $53M — Health insurance companies have spent decades amassing giant troves of data about their members.
An investor group backed by Warburg Pincus has agreed to take 58.com, China's biggest online classifieds company, private in a deal valued at about $8.7B (Manuel Baigorri/Bloomberg)
An investor group backed by Warburg Pincus has agreed to take 58.com, China's biggest online classifieds company, private in a deal valued at about $8.7B — - Consortium to take Tencent-backed firm private for $56 per ADR — Buyout funds in deal to acquire China's answer to Craigslist
Chinese phones continue to ring at full volume
Brazil’s BizCapital raises $12 million for its online lending service
BizCapital, an online lender based in Brazil, has raised $12 million from a clutch of investors including the German development finance institution, the corporate venture capital fund of MercadoLibre and existing investors Quona Capital, Monashees, Chromo INvest and 42K Investments.
“This latest round reinforces investors’ confidence in BizCapital’s ability to innovate in the Latin American credit market amid challenging circumstances caused by Covid-19,” said Francisco Ferreira, the company’s chief executive, in a statement. “We have seen four times as many business credit inquiries on our site year over year, and we are ready to serve them.”
Founded in 2016, the company pitches itself as a fast and reliable way to access financing for working capital. It already has more than 5,000 customers across 1,200 cities in Brazil, according to a statement.
The company said it would use the money to develop new products for Brazilian small and medium-sized businesses and will expand into new distribution channels.
“With this new round of capital, we will continue to widen our product lineup, helping entrepreneurs during the entire lifecycle of their companies,” said Ferreira, in a statement. “There’s never been a more important time for innovation.”
In a reflection of their American counterparts, Brazil’s venture capital firms had slowed down the pace of their investments, but now it seems like a slew of new deals are coming to market.
The investment reflects the longterm confidence that investors have in the increasingly central position e-commerce and technology-enabled services will have in the future of the Latin American economy.
Apple led global Q1 smartphone shipments for the first time with a 21% market share in Q1 2026; overall smartphone shipments fell due to memory chip shortages (Counterpoint Research)
Counterpoint Research : Apple led global Q1 smartphone shipments for the first time with a 21% market share in Q1 2026; overall smartphone...
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The first project we remember working on together was drawing scenes from the picture books that our mom brought with her when she immigrate...
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Sohee Kim / Bloomberg : South Korean authorities are investigating a data leak at e-commerce giant Coupang that exposed ~33.7M accounts; ...
