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With this, the company has raised over INR 117,588.45 Cr ($15.65 Bn) for less than a quarter of its business across 11 deals with leading tech investors like Facebook, Silver Lake, General Atlantic, KKR, TPG Capital, Abu Dhabi Investment Authority (ADIA), Mubadala Investment Company, Saudi Arabia’s Public Investment Fund, L Catterton and Vista Equity Partner. Intel Capital has an outstanding record of being a valuable partner for leading technology companies globally.” Wendell Brooks, Intel Capital President, added that, “Jio Platforms’ focus on applying its impressive engineering capabilities to bring the power of low-cost digital services to India aligns with Intel’s purpose of delivering breakthrough technology that enriches lives.” The latest investment comes exactly two weeks after Reliance Industries had declared itself to be net debt free, catapulting Mukesh Ambani as the ninth richest man in the world with a net worth of $64.5 Bn. Now, the INR 1.15 Lakh Cr ($15.38 B
Continuing its amazing funding spree since April, Reliance Industries Limited and Jio Platforms have received an investment of INR 1,894.50 Cr from Intel Capital at an equity value of INR 4.91 Lakh Cr and an enterprise value of INR 5.16 Lakh Cr. Through this investment, we are excited to help fuel digital transformation in India, where Intel maintains an important presence.” Zetwerk Bags Series C Funding Indian B2B marketplace for manufacturing items Zetwerk has raised $21 Mn in Series C financing round led by San Francisco-based investment firm Greenoaks. Prior to this round in December 2019, Zetwerk raised $32 Mn in its equity Series B funding round from new investors Lightspeed and Greenoaks Capital as well as existing investors Sequoia India, Accel and Kae Capital.
Mumbai-based Bulk MRO has raised INR 25 Cr as a part of its new debt funding round led by venture debt provider Stride Ventures. Commenting on the fund raise, Bulk MRO cofounder Shah, said, “Bulk MRO is growing exponentially in a market where the goal posts are constantly shifting. The report adds that the median funding amongst the B2B and B2B-B2C startups was $4 Mn, whereas, in the case of B2C startups, the median funding amount is $3.5 Mn.
Washington state is seeing a continued resurgence of COVID-19, reporting a record 728 confirmed cases on Thursday, the highest daily total yet in the state that was the first known U.S. epicenter of the disease. People under age 35 represented 22% of cases in January to March, and by May/June represented 46% of cases. Conversely, people over age 75 represented 16% of cases in March, and by May/June represented 6% of cases.
(GeekWire Photo / Dan Delong) Washington Gov. Jay Inslee ordered businesses not to serve customers who don’t wear masks Thursday in response to rising coronavirus cases around the state. Inslee instituted a statewide order for mandatory face coverings last week, and on Saturday he took steps to slow the reopening of the economy in some counties.
An Amazon Fulfillment Center in Dupont, Wash. (GeekWire Photo / Kevin Lisota) Amazon is once again postponing Prime Day, the company’s annual sales event, due to the coronavirus. Prime Day offers sales on hundreds of items for members of Amazon’s Prime subscription service. Amazon typically holds Prime Day in July but the company’s e-commerce business has been disrupted by a surge in orders from customers avoiding traditional retail due to the pandemic.
John Lewis, co-founder and chief scientific officer at Seattle’s OncoSenX, and co-founder and CEO of Entos Pharmaceuticals in Edmonton, Alberta. (LinkedIn Photo) A researcher with ties to Seattle-based biotech company OncoSenX has received a $4.2 million grant from the Canadian Institutes of Health Research for work on a COVID-19 vaccine. Researchers at OncoSenX are using Fusogenix for cancer research on the treatment of solid tumors.
Marguerite Casey Foundation CEO and President Carmen Rojas (Marguerite Casey Foundation Photo) For many of us, innovation and technology go together like Tik and Tok. Carmen Rojas, the incoming CEO and president of Marguerite Casey Foundation, encourages people to think more expansively about what innovation means and to remember that it applies — and is desperately needed — in the social sector, as well. “What philanthropy is doing,” Rojas said, “is throwing spotlights into the sky for what a different world looks like.” Marguerite Casey Foundation CEO and President Carmen Rojas with Eddy Morales (left), councilor for the city of Gresham, Ore., and Adrian Haro, interim CEO of The Workers Lab.
(GeekWire File Photo / Kevin Lisota) Amazon’s soaring share price has pushed CEO Jeff Bezos’ net worth to more than $171 billion, a new record that pushes his financial wealth back above its levels prior to his divorce settlement last year, according to the Bloomberg Billionaires Index. Under his divorce settlement with MacKenzie Bezos last year, the Amazon founder received 75% of the couple’s Amazon shares and retained voting authority for remaining shares. Last week, Amazon announced it would pay $500 million worth of one-time bonuses to warehouse and delivery workers after sunsetting temporary hazard pay the company was providing during the beginning of the pandemic.