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Alphabet shutters Loon balloon experiment
Alphabet is shutting down Loon, its experimental balloon alternative to cell phone towers.
Founded in 2011, Loon aimed to bring connectivity to places where other infrastructure was not feasible or prohibitively expensive.
Alphabet said it did not find a way to get costs low enough to create a viable business.
- SafetyWing snags $8M for remote worker insurance: SafetyWing, a startup offering travel medical insurance with an eye toward digital nomads, has raised $8 million in a round led by Creandum.
- Omnipresent raises $15.8M for remote teams: Ominpresent, a London-based startup offering tools to help companies manage internationally dispersed teams, raised $15.8 million in a Series A round led by an undisclosed investor.
- MotoRefi drives auto loans with $10M: MotoRefi, an Arlington, Virginia-based auto refinancing startup, announced a $10 million Series A1 funding round led by Chicago’s Moderne Ventures.
Illustration: Dom Guzman
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