STOCKHOLM : Swedish food tech firm Nick's said on Thursday it had raised US$100 million in a funding round led by investment companies Kinnevik, Temasek and Ambrosia Investments. Nick's, which makes sugar-free snacks and ice cream, said Oatly investor Gullspang, venture capital firm Peak Bridge, fund Capagro and investment company Nicoya also participated in the round. The company said the funding will be used to bolster growth in Europe and the United States, expand the product portfolio and double its store count in 2022.
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Sequoia Capital said in a blog post that the 10-year venture fund has "become obsolete. ": Over the past half-century, Sequoia Capital has established itself as the envy of Silicon Valley, from early bets on Cisco, Apple and Google to more recent wins like Zoom, Snowflake and Airbnb. Now the firm is changing its fund structure entirely and declaring that the existing time-based model for investing has "become obsolete." "Our industry is still beholden to a rigid 10-year fund cycle pioneered in the 1970s," Roelof Botha, a partner at Sequoia wrote in a blog post on Tuesday.
Fabric, a startup developing robotics- and software-powered microfulfillment technology, has raised $200 million in venture capital. : Join gaming leaders online at GamesBeat Summit Next this upcoming November 9-10. Learn more about what comes next. Fabric, a startup developing a "microfulfillment" automation platform for retailers, today announced that it raised $200 million in series C funding led by Temasek with participation from Koch Disruptive Technologies, Union Tech Ventures, Harel Insurance & Finance, Pontifax Global Food and Agriculture Technology Fund, Canada Pension Plan Investment Board, KSH Capital, Princeville Capital, Wharton Equity, and others.
Zomato Chairman Kaushik Dutta and MD-CEO for ESG Stewardship Services at ECube Investment Advisors inducted. : SoftBank-backed Snapdeal that is likely to file its draft red herring proposal in the next few months has strengthened its Board with key appointments, said sources. These include Kaushik Dutta, the Chairman of Zomato, and who is also on the Boards of Policy Bazaar & HCL Infosystems; and Richa Arora, Managing Director and CEO for Environmental, Social and Governance (ESG) Stewardship Services at ECube Investment Advisors and has also been on the Board of Tata Group's e-commerce venture.
Future Fund's latest portfolio update shows the sovereign wealth fund is just shy of hitting $200 billion. : Future Fund's latest portfolio update shows the sovereign wealth fund is just shy of hitting $200 billion. "After the exceptional 22% return in 2020-21, the Future Fund continued to grow in the September 2021 quarter. Delivering a 10-year return of 10.5% pa, the Future Fund now stands just shy of the $200 billion mark," Future Fund chair Peter Costello said.
TOKYO -- India's online education startup Vedantu is aiming to double its revenue even as the boost the company received from pandemic-related restrictions fades, its CEO told Nikkei Asia. The aggressive expansion strategy comes after the company joined the country's club of unicorns -- private companies worth $1 billion or more -- in September following a $100 million funding round led by an investment fund affiliated with Singapore's Temasek Holdings. Indian edtech giants are emerging at a time when their Chinese peers have seen their valuations plunge after Beijing tightened industry rules in August.
Jamie Driscoll has written a report setting out ways he thinks he can develop the region's economy. : Jamie Driscoll has written a report setting out ways he thinks he can develop the region's economy North of Tyne mayor Jamie Driscoll believes he can create 14,000 jobs with a regional wealth fund similar to that run by countries like Norway and Saudi Arabia. Mr Driscoll's call for a regional wealth fund is one of a number of ideas he has proposed to 'irrigate' the area's economy in a report called Regional Wealth Generation.