Briefing

The Briefing: Virgin Orbit Going Public Via SPAC, OPay Lands $400M, 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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Virgin Orbit going public in SPAC deal

Virgin Orbit, a space technology company focused on small satellite launches, announced plans to go public on Nasdaq through a merger with a blank-check acquirer.

The Long Beach, California-based company will merge with SPAC NextGen Acquisition Corp. II, at what it says will be an “implied pro forma enterprise value of approximately US$3.2 billion.”

Africa’s OPay lands $400 million

Lagos-based mobile payment platform OPay reportedly raised $400 million in a funding round led by SoftBank Vision Fund 2 in its first major African investment.

Funding rounds

India’s Zetwerk raises $150M: Bangalore-based Zetwerk, a business-to-business marketplace for manufacturing items, raised $150 million in a fresh funding round led by D1 Capital Partners at a $1.33 billion valuation.

— Joanna Glasner

Illustration: Dom Guzman

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