July 22, 2016 Comments Off on Samsung invests $450 million in Chinese automaker BYD
In 2015, Samsung Electronics announced its interest in developing futuristic vehicles, including self-driving and electric cars. Today, the company has advanced its push into the automotive segment by investing $450 million in Chinese automaker BYD Company. Backed by Warren Buffett’s Berkshire Hathaway, BYD manufactures gas-powered, hybrid and electric cars as well as rechargeable batteries. According to BYD, Samsung’s investment will be used to further its research and development activities and boost its battery production. For Samsung, the investment enables it to enter the futuristic automotive market that is presently led by Google, Tesla, Uber and Apple, all of whom are developing their own next-generation cars.
July 21, 2016 Comments Off on Unilever to acquire Dollar Shave Club for $1billion
Unilever has reportedly agreed to acquire subscription service Dollar Shave Club for $1 billion. Dollar Shave Club is the popular LA-based membership service that delivers affordable fresh razors to customers by mail. According to analysts, the move provides Unilever with a foothold in the competitive shaving market, which is traditionally dominated by Gillette, a brand owned by rival Procter & Gamble. While it is reported that Gillette enjoys a 65% global market share, the acquisition will give Unilever a chance to further expand Dollar Shave Club’s growing millennial market. Currently, the startup has three million online customers and is the clear winner in the digital realm with more than 58,000 followers on Instagram and 2.8 million likes on its Facebook page.
July 20, 2016 Comments Off on Pixie raises $18.5M
Pixie Technology, a “location of things” startup has raised $18.5 million in a Series B round from Spark Capital, Cedar Fund, OurCrowd and other private investors. Pixie offers smart tags called Pixie Points that can be attached to items like wallets, laptops, gadgets and keys so these easily can be tracked if they get lost. Each Pixie contains an innovative signaling technology, which enables the Pixie to communicate with its app and other Pixies. The platform can locate any object even through walls and down to inches of their location. According to the company, the funding will be used to develop and launch new functionalities, including augmented reality.
July 18, 2016 Comments Off on Scope AR raises $2 million in seed funding
Pokemon GO and Scope AR are both augmented reality platforms. But unlike Pokemon GO, which was created for games and entertainment, Scope AR does something more utilitarian. It provides “smart instructions”, which enable companies to turn training into highly interactive content with augmented reality. Its WorkLink platform makes it easy for companies to provide augmented reality manuals that will teach employees how to repair, maintain or even assemble machinery easily. Its Remote AR platform enables experts and field technicians to collaborate with the help of augmented reality. The company provides custom implementation of its technologies and counts Boeing, Lockheed Martin and Honeywell as some of its big-name clients. The company recently raised $2 million in a seed round from Susa Ventures, Presence Capital Fund and New Stack Ventures.
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