Here’s a list of today’s tech funding stories, updated as the day unfolds. Tip us here if you have a deal to share.
Ola raises $500M to go ‘deeper into existing markets’ as India standoff with Uber continues
India’s dominant ride-hailing app, Ola, announced Wednesday that it has raised $500 million in fresh funds to defend against Uber’s challenge on its home turf.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":1841000,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,entrepreneur,","session":"C"}']A new valuation has not been disclosed, though news of the round that initially leaked back in September pegged Ola’s new valuation at $5 billion.
Update: A source familiar with the deal has told VentureBeat that the new valuation is indeed $5 billion.
AI Weekly
The must-read newsletter for AI and Big Data industry written by Khari Johnson, Kyle Wiggers, and Seth Colaner.
Included with VentureBeat Insider and VentureBeat VIP memberships.
Lyft is reportedly raising $500M at $4B valuation
The same day that U.S.-based ride-booking startup Lyft said it’s on track to hit $1 billion in gross annual revenue this year, the New York Times is reporting that the company is also in talks to raise $500 million in a fresh funding round that would leave it valued at around $4 billion.
TutorGroup takes in $200M investment, hits $1B valuation
Educational tool TutorGroup announced today that it took in an investment close to $200 million, setting the Chinese company’s valuation at over $1 billion.
TutorGroup’s series C round was backed by Singapore’s sovereign fund GIC, the Russia-China Investment Fund (RCIF), Goldman Sachs Group Inc., and Silverlink Capital LP.
More: TutorGroup
[aditude-amp id="medium1" targeting='{"env":"staging","page_type":"article","post_id":1841000,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,entrepreneur,","session":"C"}']
Banking startup Card closes $9M funding round for growth
Banking service Card announced today that it closed a $9 million funding round led by Columbia Pacific Advisors’ Growth Capital strategy and Fenway Summer Ventures. The prepaid card startup said it has processed over $450 million in deposits to date.
The investment will be used to boost the company’s customer growth and tech development.
More: Card.com
Test IO raises $5M from Turn/River Capital
Turn/River Capital invested $5 million in Test IO, a startup offering a “self-service crowdtesting platform for app and web developers.”
[aditude-amp id="medium2" targeting='{"env":"staging","page_type":"article","post_id":1841000,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,entrepreneur,","session":"C"}']
More: Test IO
SafeDK raises $2.25M to launch its SDK management service
SDK management startup SafeDK launches with $2.25 million in funds from an investment led by StageOne VC.
Eddy Shalev, Marius Nacht, and Kaedan Capital also participated in the funding round.
[aditude-amp id="medium3" targeting='{"env":"staging","page_type":"article","post_id":1841000,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,entrepreneur,","session":"C"}']
This list will be updated with breaking funding news all day. Check back for more.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn More