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Cyclone Idai: DEC appeal raises £8m in first day

Image copyright EPA/Denis Onyodi/IFRC Image caption Thousands of people are still stranded after the cyclone An appeal to help people in Mozambique and Zimbabwe affected by Cyclone Idai has raised £8m in 24 hours, the Disasters Emergency Committee has said. The Queen and Prince of Wales were among those who gave donations after the disaster which killed more than 500 people. The total includes £2m matched by the government – and it has now pledged to match a further £2m on new donations. Broadcasters including the BBC showed DEC’s fundraising…

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Sports 

Cycling: Ineos’ takeover of Team Sky raises financial fairness questions

PARIS (Reuters) – Team Sky’s takeover by chemical giant Ineos raises questions on financial fair play in cycling as the new outfit is expected to increase its monetary advantage over rival teams. FILE PHOTO: Jim Ratcliffe, CEO of British petrochemicals company INEOS, poses for a portrait with the Canary Wharf financial district seen behind, ahead of a news conference announcing the launch of a British America’s Cup sailing team in London, Britain, April 26, 2018. REUTERS/Toby Melville The British team’s budget of about 40 million euros (about $45.4 million) is…

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Technology 

Software firm Cloudflare raises $150 million

(Reuters) – Cloudflare Inc, a U.S. startup whose software makes websites more secure and load faster, said on Tuesday it had raised $150 million in the latest funding round, led by global investment firm Franklin Templeton. The company’s last $110 million funding round in 2014 included investors such as CapitalG (formerly Google Capital), Microsoft Corp, Baidu and Qualcomm. Cloudflare did not disclose the valuation at which it received the latest funding. The San Francisco, California-based company had been looking to go public in the first half of this year that…

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Technology 

Huawei CFO appears in Canadian court, her lawyer raises Trump comments on case

Huawei’s Financial Chief Meng Wanzhou arrives at the B.C. Supreme Court in Vancouver, British Columbia, Canada, March 6, 2019. REUTERS/Ben Nelms VANCOUVER (Reuters) – A Canadian judge set Huawei Technologies Co Ltd Chief Financial Officer Meng Wanzhou’s next court date for May 8 at a brief court appearance on Wednesday where her lawyer briefly raised comments made by U.S. President Donald Trump. Canada arrested Meng on Dec. 1 at the request of the United States, kicking off a diplomatic dispute with China. Meng and Huawei are accused in the United…

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Technology 

Electric scooter sharing firm VOI raises $30 million for European expansion

STOCKHOLM (Reuters) – Electric scooter sharing firm VOI Technology has raised $30 million in another fundraising round since being set up seven months ago for its European expansion and investment in research to fend off growing competition, it said on Monday. Uber Technologies Inc, Alphabet and several other high-profile investors are betting scooter-sharing will rise rapidly in Europe thanks to large commuter populations and lower levels of car ownership than in the United States. Having already put many scooters on European roads, domestic startups such as Tier and Dott and…

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Technology 

Ex-Cylance, Carbon Black executives’ startup raises $20 million in second funding round

NEW YORK (Reuters) – Cybersecurity company Obsidian Security raised $20 million in a funding round participated by Greylock Partners, the company told Reuters on Tuesday, a day ahead of a planned announcement. Other investors in the latest round include venture capital firm Wing and GV, a venture arm of Google parent company Alphabet Inc. Obsidian Security, founded by former executives from cybersecurity firms Cylance and Carbon Black Inc, will use the money for product development and to grow sales and marketing teams, Chief Executive Officer Glenn Chisholm told Reuters. “Even…

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Sports 

Sports betting media startup The Action Network raises $17.5 million

NEW YORK (Reuters) – Sports betting media startup The Action Network said on Thursday it has raised $17.5 million of funding from private equity, team owners and media and esports investors. The investments come as the sports and media industries try to figure out how to capitalize on the nascent American sports betting market. A U.S. Supreme Court ruling in May allowed states to legalize, regulate and tax the activity. The decision instantly created a new national market, sparking a rush of activity by states, companies, leagues and others seeking…

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Technology 

Israeli software firm DriveNets raises $110 million in first funding round

TEL AVIV (Reuters) – Israeli networking software company DriveNets said on Thursday it raised $110 million in its first round of financing led by Bessemer Venture Partners and Israel’s Pitango Growth, with the participation of several private investors. The new financing will help the company expand its product portfolio and penetrate new markets, it said. DriveNets said its software allows communication service providers to handle growing demand without sacrificing profitability. Bringing networking to the cloud can accelerate new service rollouts, it said. DriveNets was founded in late 2015 by Ido…

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Technology 

Fashion startup Zilingo raises $226 million from Singapore’s Temasek, others

SINGAPORE (Reuters) – Southeast Asian fashion startup Zilingo said it has raised $226 million in its latest funding round from existing backers such as venture capital firm Sequoia Capital, with Singapore’s Temasek Holdings joining as a new investor. The Series D financing follows a $54 million fundraising last year, taking the total capital raised by the company to $308 million. The company declined to provide valuation. The latest round included Singapore investment fund EDBI and previous investors Burda Principal Investments, a division of Germany’s Hubert Burda Media, and Belgian investment…

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Technology 

Go-Jek raises $1 billion in round led by Google, Tencent, JD

FILE PHOTO – A Gojek driver rides his motorcycle through a business district street in Jakarta, June 9, 2015. REUTERS/Beawiharta JAKARTA (Reuters) – Indonesian ride-hailing firm Go-Jek has raised around $1 billion in a funding round, led by Alphabet Inc’s Google, JD.com Inc and Tencent Holdings, sources familiar with the matter said on Friday. Google, Tencent and JD.com have invested in Go-Jek earlier. The company said in a statement on Friday it had finalised the first close of its series F funding round, with Mitsubishi Corp and Provident Capital joining…

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