Goldman Sachs Group is leading an $81-million investment in San Francisco-based thredUP, an online marketplace for secondhand clothing. Goldman Sachs Investment Partners, a hedge fund which manages clients' money, joined in the financing by existing investors Trinity Ventures, Highland Capital Partners and Upfront Ventures. It has raised $125 million, a Bloomberg News report said.
BAIC arm partners Atieva
Beijing Electric Vehicle, has opened a technology research centre in Silicon Valley and is teaming up with US electric car start-up Atieva to develop electric vehicles (EVs) for China and global markets. Beijing Electric, an affiliate of Chinese government-owned BAIC Motor Corp, said its tech centre will focus on EVs and eventually self-driving cars.
HappyFresh enters Thailand
Grocery delivery app HappyFresh is now operating in Bangkok and will roll-out operations in Taipei later this month. Launch in Manila is slated for October. "We're also preparing to launch in Surabaya and exploring markets in Indonesia," founder and chief operating officer Benjamin Koellmann told Tech in Asia. Koellmann and his partners have also created HappyRecipe, a spinoff of HappyFresh's core offering.
Argus raises $26 million
US-Israeli automotive cyber security start-up Argus Cyber Security has raised $26 million in a second round of funding aimed at rapidly expanding its development and customer teams as market demand rises. Founded in 2013, Argus helps car makers and suppliers protect Internet-connected cars and commercial vehicles from car-hacking. In the first round, Argus raised $4 million, according to a Reuters report.
Pathway's liquid biopsy tests
Biotechnology start-up Pathway Genomics Corp is introducing the first 'liquid biopsy' tests designed to detect cancer-associated mutations in the blood of those who are at risk of developing tumours. Pathway, backed by investors, including International Business Machines and venture capital firm Founders Fund, is offering its CancerIntercept Detect test for $699, according to Bloomberg.
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