Qualcomm buys chip start-up for $ 1.4 billion, Rapyd and Blend each raise $ 300 million, and more – Crunchbase News
Here’s what you need to know today in startup and business news, updated by Crunchbase News staff throughout the day to keep you in the know.
Qualcomm buys start-up Nuvia for $ 1.4 billion
Qualcomm announced on Wednesday that it will acquire the Santa Clara, Calif.-based company Nuvia, a central processing unit (CPU) design start-up founded by former employees of Apple, for $ 1.4 billion. Qualcomm plans to integrate Nuvia processors into its product portfolio, including its smartphones, laptops and other devices.
The startup was founded in 2019 by three former Apple executives, including the CEO of Nuvia. Gerard Williams III, and had raised $ 293 million to date, according to data from Crunchbase. Mithril Capital Management led the company’s $ 240 million Series B last year.
Rapyd raises $ 300 million for payment technology
Coat led the funding for the London-based and Silicon Valley-based company, bringing the total funding known to date to around $ 470 million, per Crunchbase data.
Founded in 2016, Rapyd offers a platform that it says can integrate fintech services into any application and simplify the complexity of offering local payment methods.
Blend brings in $ 300 million for loans
Digital lender To mix together closed on $ 300 million Series G financing round led by Coat and Global Tiger, nearly doubling its valuation to $ 3.3 billion in just five months, the company said in a written statement.
The new funding gives the San Francisco-based company a total known funding to date of around $ 665 million, according to data from Crunchbase. It will support Blend’s next phase of growth and investment in products and services.
Founded in 2012, Blend’s technology platform supports banking capabilities for mortgages, consumer loans, and deposit accounts, while allowing consumers to complete the financing process in one place.
Poshmark seeks to increase IPO price range
If the new price goes through, that could mean potential proceeds of $ 277 million.
On January 6, the Redwood City, Calif., Based company said it intended to offer 6.6 million shares priced between $ 35 and $ 39 each, which would represent an increase of up to $ 257.4 million.
The company will list its shares on the Nasdaq Global Select Market under the symbol POSH. The shares are expected to trade on Jan. 14, according to IPO Scoop.
Poshmark is the latest e-commerce company to go public. In the past year alone, a good list of companies have started trading in public markets or have indicated that they plan to go public, including To wish, Casper, Wholesale trade, DoorDash, ThredUp and Barkbox.
Damir becirovic, an investment partner in Index of companies which invests in e-commerce businesses, told Crunchbase News earlier this week that it is a good time for e-commerce businesses go to public markets.
“The growth is staggering for a lot of these companies, which are amazing companies too,” he said.
- Affirm raises $ 1.2 billion in IPO: Point of sale installment loan provider To affirm raised $ 1.2 billion in its initial public offering, after having valued the shares above the projected range. (Read more here.)
- Iziwork gets $ 43 million for a temporary job: Iziwork, a French startup offering a platform to improve temporary employment, raised $ 43 million in new funding from Cathay Innovation and Bpifrance.
- Bryte offers $ 24 million for sleep technologyu: Bryte, a Los Altos-based company specializing in AI-based restorative sleep technology, announced $ 24 million Series A funding led by ARCHina Capital.
- CookUnity offers $ 15.5 million for meal subscription: CookUnity, a Brooklyn-based food technology company, closed a $ 15.5 million Series A financing led by Fuel Venture Capital. The company presents itself as the “first direct subscription platform for meals from chef to consumer”.
- Nayya Inks $ 11 Million For Personalized Benefits Platform: Nayya, a New York-based insurance benefits management and experience platform, closed an $ 11 million Series A financing led by Felicis Ventures.
Mergers and Acquisitions
Central Logic acquires Acuity Link: Health Care Access Company based in St. Paul, Minnesota Central logic acquired Acuity link, a supplier of communications and transportation logistics management software. Terms of the contract are not disclosed. The agreement leverages Acuity Link technology for the new Intelligent transport capacity, which was announced with a new real-time bed visibility platform. This acquisition comes two months after Central acquired Ensocare, which provides customer service and care coordination facilities to healthcare organizations.
Drawing: Dom guzman
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