Briefing Venture

The Briefing: Graphcore Raises $222M, DXY Closes On $500M, And More

The Briefing

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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Graphcore raises $222M for AI microprocessors

Graphcore, a U.K.-based startup that develops a microprocessor designed specifically for artificial intelligence and machine-learning applications, has raised $222 million in a Series E funding round.

Ontario Teachers’ Pension Plan led the financing, which reportedly sets a post-money valuation of $2.77 billion for the Bristol-based company.

The latest round brings total funding to date for Graphcore, which was founded in 2016, to over $780 million.

Funding rounds

  • China’s DXY lands $500M for online health: DXY, an online health care community for Chinese consumers and health care organizations, raised $500 million in a Series E round led by private equity firm Trustbridge Partners and joined by existing backer Tencent.

Other news

  • Coinbase to suspend XRP trading: Coinbase said it will suspend trading of  the cryptocurrency XRP, following a lawsuit from the U.S. Securities and Exchange Commission last week against Ripple, the company that developed it.

Illustration: Dom Guzman

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