The world of tech was astir with eye-catching activity this week. DesktopMetal, a startup that has no product or even a website yet, raised $14.4 million this week purely based on their awesome team composition. Alibaba announced expectation-shattering performance in its second quarter, causing their stock to surge. Karhoo, a company that plans to level the playing field for licensed taxi companies against Uber, raised a significant funding round ahead of their upcoming launch.
It’s been a bustling week, so before you leave the office for the weekend, let us quickly recap the week’s events. We picked out the need-to-knows from the stories that made the top of Index’s algorithms for you.
This Week in Numbers:
Index recorded 161 funding events and 45 acquisitions this week. The median amount raised by tech companies was $3.7 million, a 19 percent upturn compared to last week. The largest investment round was raked in by New York-based taxi ordering company Karhoo, who reeled in $250 million in private equity ahead of its launch in January.
Four breakout funding rounds
Predictive analytics company Uptake raised an impressive $45 million series A round from New Enterprise Associates, Lightbank, and Greatpoint Ventures.