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Here’s a list of today’s tech funding stories, updated as the day unfolds. Tip us here if you have a deal to share.
India’s dominant ride-hailing app, Ola, announced Wednesday that it has raised $500 million in fresh funds to defend against Uber’s challenge on its home turf.
A new valuation has not been disclosed, though news of the round that initially leaked back in September pegged Ola’s new valuation at $5 billion.
Update: A source familiar with the deal has told VentureBeat that the new valuation is indeed $5 billion.
The same day that U.S.-based ride-booking startup Lyft said it’s on track to hit $1 billion in gross annual revenue this year, the New York Times is reporting that the company is also in talks to raise $500 million in a fresh funding round that would leave it valued at around $4 billion.
TutorGroup takes in $200M investment, hits $1B valuation
Educational tool TutorGroup announced today that it took in an investment close to $200 million, setting the Chinese company’s valuation at over $1 billion.
TutorGroup’s series C round was backed by Singapore’s sovereign fund GIC, the Russia-China Investment Fund (RCIF), Goldman Sachs Group Inc., and Silverlink Capital LP.
Banking startup Card closes $9M funding round for growth
Banking service Card announced today that it closed a $9 million funding round led by Columbia Pacific Advisors’ Growth Capital strategy and Fenway Summer Ventures. The prepaid card startup said it has processed over $450 million in deposits to date.
The investment will be used to boost the company’s customer growth and tech development.
Test IO raises $5M from Turn/River Capital
More: Test IO
SDK management startup SafeDK launches with $2.25 million in funds from an investment led by StageOne VC.
Eddy Shalev, Marius Nacht, and Kaedan Capital also participated in the funding round.
This list will be updated with breaking funding news all day. Check back for more.
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