Briefing

The Briefing: Vay Lands $95M, TealBook Raises $50M, And More

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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German mobility startup Vay lands $95M

Berlin-based Vay, a startup developing a service that remotely drives vehicles to customers, raised $95 million in a Series B funding round from backers including Kinnevik, Coatue and Eurazeo.

Vay’s technology enables a person to remotely drive a vehicle, an operation called “teledriving.” People can order a car, which arrives within a few minutes, and then drive themselves to their destination. After arrival, they can leave the car without having to park it.

The company plans to launch its first car rental service in Hamburg next year.

– Joanna Glasner

TealBook raises $50M

Toronto-based TealBook, a provider of supplier data and e-commerce procurement technology, announced it raised US$50 million in a Series B funding round led by Ten Coves Capital. Since announcing its Series A Funding in January, the company said it has experienced 350 percent revenue growth.

– Joanna Glasner

M&A

Nike acquires RTFKT: Nike announced the acquisition of RTFKT (pronounced artifact), a  startup that collaborates with artists who sell works as NFTs to design items that incorporate their creations into physical objects like sneakers. The purchase price was not disclosed. RTFKT previously raised at least $9.5 million in known funding, per Crunchbase data.

— Joanna Glasner

Funds

Initialized raised $700M: Initialized has raised a $530 million core fund for early-stage investing and a $170 million fund to make further follow-on investments. The firm, which is close to a decade old, has $3.2 billion under management and has invested in 22 companies valued as unicorns.

— Gené Teare

Illustration: Dom Guzman

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