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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Sequoia Capital India closes $195M seed fund
Sequoia Capital India has closed on $195 million for a new seed fund that will back entrepreneurs across India and Southeast Asia. The new fund closing comes two years after Sequoia raised the same amount for its last seed fund for the region.
The fund is tied to the firm’s Surge program, a pre-Series A offering $1 million to $2 million of capital along with company-building help and mentorship. Sequoia says that to date, 30 of the 52 startups from the first three cohorts of Surge have gone on to raise a total of $390 million in follow-on capital after the program.
— Joanna Glasner
Funding rounds
Nuro raises strategic financing: Nuro, a developer of robotics-enabled autonomous delivery vehicles, announced new investments from Woven Capital, Chipotle and other new investors. The financing is the first investment by Woven Capital, a newly established growth-stage fund from Woven Planet, a Toyota subsidiary. The new investors joined as part of Silicon Valley-based Nuro’s recently closed Series C round.
— Joanna Glasner
Fintech startup Greenwood lands $40M: Atlanta-based Greenwood, a digital banking platform focused on Black and Latino individuals and business owners, announced it has closed $40 million of Series A funding from a long list of backers including most of the largest U.S. banks, two leading payment technology companies, and multiple venture backers. The fundraise was led by Truist Ventures, the corporate venture capital division of Truist Financial.
— Joanna Glasner
Linktree closes $45M Series B: Melbourne, Australia-based Linktree raised a $45 million Series B by Index Ventures and Coatue, with participation from returning investors AirTree Ventures and Insight Partners. Linktree’ platform enables easier social commerce for brands, artists, publishers and others, while helping curate their online presence. The company has raised a total of $55.7 million to date, according to Crunchbase data.
— Chris Metinko
Cybersecurity
Morphisec closes new $31M round: Cybersecurity company Morphisec closed a $31 million round led by JVP. The round included participation by other existing investors including Orange and Deutsche Telekom Capital Partners. The Israel-based company provides endpoint protection for workstations, servers and cloud workloads. Founded in 2014, the company has now raised $50 million to date, according to Crunchbase data.
— Chris Metinko
Illustration: Dom Guzman
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