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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OfBusiness reportedly eyes $4.5B+ valuation
India-based e-commerce startup OfBusiness, which sells industrial goods and extends credit to small businesses, is in talks to raise a new round of funding at a valuation of over $4.5 billion, according to a TechCrunch report citing unnamed sources.
Founded in 2015, OfBusiness has raised over $550 million in known funding, per Crunchbase data, and includes Tiger Global Management and the SoftBank Vision Fund among its major backers. The Gurgaon-headquartered company raised three funding rounds already this year, totaling $470 million.
— Joanna Glasner
Egle Therapeutics raises $47M
Paris-based Egle Therapeutics, a developer of immunotherapies for oncology and autoimmune disease, raised 40 millon euros ($47 million) in a Series A funding round co-led by LSP and Bpifrance.
— Joanna Glasner
Health tech
Xilio prices IPO: Xilio Therapeutics, a biotech startup working on therapies for solid tumors, priced shares for its initial public offering on Nasdaq at $16, the bottom of the proposed range. The offering raised $118 million for the 5-year-old, Waltham, Massachusetts-based startup.
— Joanna Glasner
Illustration: Dom Guzman
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