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New York-based hedge fund <keyword id="60126" type="ORGANIZATION" weightage="80" keywordseo="Falcon">Falcon</keyword> Edge and <keyword id="6357722" type="COMPANY" weightage="80" keywordseo="silicon-valley">Silicon Valley</keyword> venture fund <keyword id="144381" type="COMPANY" weightage="80" keywordseo="Accel-Partners">Accel Partners</keyword> are expected to join DST Global which is leading a soon-to-be-announced $400-million financing round in taxi hailing service <keyword id="6354720" type="PERSON" weightage="80" keywordseo="Ola">Ola</keyword>, sources close to the matter told TOI. 
 Falcon Edge is expected to pump in around $20 million in the new round while <keyword id="2788417" type="UNKNOWN" weightage="80" keywordseo="Accel-US">Accel US</keyword> will put $5 million, sources said. Accel US was an investor in TaxiForSure (TFS) and became an Ola shareholder post its recent acquisition. Ola's other existing investors -including Tiger Global, Matrix Partners, <keyword id="6497288" type="UNKNOWN" weightage="80" keywordseo="Steadview-Capital">Steadview Capital</keyword> --are also participating in the new financing round. 
 
 The latest fund-raise is likely to value the company at $2.5 billion post the investment, as reported by this newspaper first in its February 26 edition. Russian billionaire <keyword id="303107" type="PERSON" weightage="80" keywordseo="Yuri-Milner">Yuri Milner</keyword>'s DST, a significant investor in e-commerce biggie Flipkart, is expected to hold just under 10 per cent stake in the four-year-old company , post the new round. 
 
 When contacted by TOI, Bhavish Agarwal, co-founder, Ola, did not offer any comments, while Falcon Edge could not be reached immediately for a response. Founded by <keyword id="2566840" type="UNKNOWN" weightage="80" keywordseo="Richard-Gerson">Richard Gerson</keyword> together with <keyword id="2788418" type="UNKNOWN" weightage="80" keywordseo="Navroz-D-Udwadia">Navroz D Udwadia</keyword> and James Minshull, Falcon Edge leads the pack of a new breed of <keyword id="42111" type="COMPANY" weightage="80" keywordseo="Wall-Street">Wall Street</keyword> hedge funds, a Tiger Global offshoot, managing more than $4 billion in assets. Its India <keyword id="6362476" type="ORGANIZATION" weightage="80" keywordseo="investments">investments</keyword> include realty portal <keyword id="35061" type="ORGANIZATION" weightage="80" keywordseo="housing">Housing</keyword> and <keyword id="2112984" type="UNKNOWN" weightage="80" keywordseo="Newshunt">NewsHunt</keyword>, a mobile news aggregation service. 
 
 
Hedge funds like Falcon Edge, Valiant Capital and Steadview Capital, among others, funneled big money into Indian consumer internet companies last year, fanning the already frothy valuations of these tech startups. 
 The latest round of fundraise for Ola, founded by IITBombay batchmates Aggarwal and Ankit Bhati in 2011, would put it right up in <keyword id="819204" type="UNKNOWN" weightage="80" keywordseo="the-League">the league</keyword> of the most valuable internet firms domestically .Ola's $210-million fund-raise led by <keyword id="163404" type="COMPANY" weightage="60" keywordseo="Softbank">SoftBank</keyword> in October last year valued it at $650 million -post-money -making the Japanese investor the startup's largest investor. 
 
The cab aggregator is present across 67 cities and has received $277 million of capital across five financing rounds. Its biggest competitor taxi-hailing app Uber had stepped on the gas in India by doling out huge discounts to riders. However, its growth has stalled considerably post the rape of a female passenger by one of its drivers last year in Delhi.

Ola Cabs to receive $400mn funding soon

With the increasing competition between the cab service providers in the country, it has become extremely important for them to continue raising cash to stay ahead of their rivals. And perhaps this is what <keyword id="205081" type="CITY" weightage="20" keywordseo="Meru">Meru</keyword> Cabs realised. The Mumbai-headquartered taxi service is in advanced talks with hedge funds <keyword id="2200131" type="ORGANIZATION" weightage="20" keywordseo="Valiant-Capital-Partners">Valiant Capital Partners</keyword> and <keyword id="4675626" type="COMPANY" weightage="20" keywordseo="Falcon-Edge-Capital">Falcon Edge Capital</keyword> to raise Rs 627 crore ($100 million), as The Economic Times report. 
 The amount raised by Meru will help the India's oldest radio taxi operator to maintain a stronghold in the fight with it’s competitors like Tiger Global-backed <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> and San Francisco-based <keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword>. 
 
Earlier this week, Meru raised $50 million (Rs 300 crore) from existing investor India Value Fund Advisors (IVFA) in order to finance its expansion plan to operate in 40 cities. 
 
Meru CEO Siddhartha Pahwa said, "We are talking to a new set of investors including Hong Kong and US-based hedge funds to raise $100 million at a valuation of $350 million," said Meru CEO Siddhartha Pahwa. 
 
Besides, Meru, which began operations in 2007, is also associating with regional radio taxi operators on a revenue-share basis to expand its fleet at a faster pace. Currently, it has a fleet of more than 50,000 taxis. 
(Image: Meru)

​This is how Meru Cabs plans to give Ola and Uber a run for their money

As a part of its micro-marketing strategy, online retailer of babycare <keyword id="1615917" type="COMPANY" weightage="100" keywordseo="FirstCry">FirstCry</keyword> has presented one million gift boxes to new mothers in hospitals across the country. It also gave coupon codes to mothers for further shopping on its online site, app or the 120 physical outlets across the country. 
 The Pune-based company plans to continue the campaign perpetually and targets to reach 1,25,000 new mothers per month. "The free-of-cost gift box presented to new mothers contained essentials required in the first few days of pregnancy and we called the box as 'celebrating the first cry'," said <keyword id="2604184" type="UNKNOWN" weightage="100" keywordseo="Supam-Maheshwari">Supam Maheshwari</keyword>, CEO of FirstCry. 
 
The company, which first conducted a pilot with around 200 hospitals in Pune, has so far partnered with more than 7,500 hospitals across the country. 
 
It has spent around Rs 20 crore on this initiative along with its brand partners. "With marketing costs increasing exponentially today, this was an innovative means for us to connect with new customers at a reduced marketing cost and build a potent relationship with new mothers who can become our regular customers," said Maheshwari. 
 
He said the company has seen a conversion rate of 8%-10% to actual customers through this campaign. "Traditional campaigns typically see a 1% to 2%, whereas we achieved conversions four times that," Maheshwari said. 
 First-Cry, owned by <keyword id="933856" type="COMPANY" weightage="100" keywordseo="BrainBees-Solutions">Brainbees Solutions</keyword>, had raised $36 million, or about Rs 220 crore, from New Enterprise Associates, Valiant Capital and existing investors in its fourth round of funding earlier this year. It plans to increase its physical store count to 200 by March 2016. 
 
The Indian babycare (age 0-9) market is estimated at around $10 billion, or about Rs 62,000 crore. Every year about 25 million babies are born in the country. 
 
The market is fragmented today with as many as 4,000 specialised baby shops across the country. "There is a huge opportunity for organised retail chains," Maheshwari said. In the online space, First-Cry competes with players such as BabyOye. 
 
(Image credits: Indiatimes)

FirstCry goes gaga with offers for new mothers

<div class="KonaFilter image-container float_right"><div class="image on-image"><a href="http://www.flickr.com/photos/pinterest/8384130457/sizes/h/">Flickr/Pinterest HQ</a>Ben Silbermann, CEO, <keyword id="939877" type="COMPANY" weightage="60" keywordseo="Pinterest">Pinterest</keyword></div></div>Pinterest has confirmed a whopping new $225 million investment that gives the social sharing site a jaw-dropping $3.8 billion valuation, the company told Business Insider.
This is on top of <a href="http://www.businessinsider.com/how-we-scaled-pinterest-2013-4">a massive $200 million investment Pinterest raised in February</a>, at a valuation of $2.5 billion. So it's raised $425 million this year alone <a href="http://www.crunchbase.com/company/pinterest">and $563 million total.</a>
A new investor, Fidelity, led the round with participation from existing investors, Andreessen Horowitz, Bessemer Venture Partners, FirstMark Capital, and Valiant Capital Partners. Japanese e-commerce giant Rakuten, which invested $100 million in May of 2012, did not re-up, notes <a href="http://allthingsd.com/20131023/pinterest-does-another-massive-funding-225-million-at-3-8-billion-valuation/">Kara Swisher and Liz Gannes at AllThingsD</a>.
No one questions the rising popularity of the site, which let's users share pictures and websites with each other. 
Pinterest has become second only to Facebook when it comes to referral traffic, according to Shareaholic, a company that distributes sharing widgets and monitors where traffic comes from on the web.
<div class="KonaFilter image-container click-to-enlarge"><div class="image"><a title_source="Shareoholic" title_caption="" class="zoomin" href="http://static3.businessinsider.com/image/52683be3eab8eadf5c473ee5-960/tech_cotd-chart%20of%20the%20day-1.jpg"></a><a href="https://blog.shareaholic.com/social-media-traffic-trends-10-2013/">Shareoholic</a></div></div>
 But how will Pinterest will use its popularity to create enough revenue to justify that $3.5 billion valuation?
Good question because its <keyword id="35666" type="COMPANY" weightage="60" keywordseo="advertising">advertising</keyword> programs aren't fully cooked yet. Earlier this month, it started testing one, called the "promoted pin" which are paid ads that appear within the search results and category feeds.
A Pinterest spokesperson says its too early to say how well that program is doing but advertisers have high hopes. "Brands have wanted to do something on Pinterest for a long time," Lisa Weinstein, President of Digital, Data &amp; Analytics at Starcomm MediaVest, <a href="https://intelligence.businessinsider.com/the-rise-of-native-advertising-2013-10">told BI Intelligence</a>. MediaVest represents companies <a href="http://www.mediavestww.com/our-work/clients/">like </a><a href="http://www.mediavestww.com/our-work/clients/">P&amp;G, Walmart, Microsoft and Coca Cola.)</a>
Given how much referral traffic Pinterest generates, it's possible it might also create some sort of "affiliate" model, where it makes money when it sends people to a website and they make a purchase. We'll see.
Pinterest says it will use the new $225 million in a variety of ways:
<ul>
<li>International expansion. It's grown its international users by 125% since the beginning of the year. (Pinterest recently launched in UK, France and Italy and plans to launch in 10 more countries before the end of the year.)</li>
<li>Investment in mobile which, it says, has grown 50% since the beginning of the year to become more than 3/4 of all usage.</li>
<li>More advertising and other income-producing, including international expansion of its "promoted pins" ads.</li>
<li>Investments in the technical infrastructure to make the service faster and better.</li>
<li>Acquisitions, both for talent and technology.</li>
</ul>

CONFIRMED: Pinterest Has Raised A Huge New $225 Million Investment (Over Half A Billion Raised So Far)

<keyword id="19981453" type="General" weightage="20" keywordseo="Brainbees-Solutions" source="keywords" meta.keywordsubtype="org" meta.entityname="Brainbees Solutions" meta.hostid="261" meta.entityid="Brainbees Solutions">Brainbees Solutions</keyword> Ltd, the parent firm of online e-commerce platform <keyword id="19939174" type="General" weightage="20" keywordseo="FirstCry" source="keywords" meta.keywordsubtype="org" meta.entityname="FirstCry" meta.hostid="261" meta.entityid="FirstCry">FirstCry</keyword>, has received <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords" meta.keywordsubtype="org" meta.entityname="Sebi" meta.hostid="261" meta.entityid="Sebi">Sebi</keyword>'s approval to raise funds through an initial public offering (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>), an update with the markets regulator showed on Monday. Apart from this, three more companies -- SaaS platform Unicommerce eSolutions, Maharashtra-based Gala Precision Engineering and Interarch Building Products -- obtained the regulator's nod to float the initial share sale. These companies -- who filed their preliminary IPO papers with Sebi between January and May 2024 -- obtained the regulator's observations during June 25-28, according to the update. In Sebi's parlance, obtaining its observations means its approval to float the public issue. According to the fresh draft red herring prospectus (DRHP), Pune-based Brainbees Solutions' proposed IPO is a combination of a fresh issue of equity shares, aggregating up to Rs 1,816 crore and an offer for sale (OFS) of up to 5.44 crore equity shares by existing shareholders. Under the OFS, SVF Frog, a Cayman Islands-registered entity of <keyword id="19944037" type="General" weightage="20" keywordseo="Softbank" source="keywords" meta.keywordsubtype="org" meta.entityname="Softbank" meta.hostid="261" meta.entityid="Softbank">Softbank</keyword>, will sell 2.03 crore equity shares of Brainbees Solutions Ltd, and automaker Mahindra &amp; Mahindra (M&amp;M) will offload 28.06 lakh shares of the company. Currently, Softbank holds a 25.55 per cent stake in Brainbees Solutions, and M&amp;M owns a 10.98 per cent stake in the multi-brand retailing platform. Apart from Softbank and M&amp;M, other entities selling shares in the OFS are PI Opportunities Fund, TPG, NewQuest Asia Investments, Apricot Investments, Valiant Mauritius, TIMF Holdings, Think India Opportunities Fund and Schroders Capital. Brainbees Solutions re-filed preliminary papers with Sebi in May after the company was directed by the regulator to re-file the draft papers, citing insufficient disclosure of key performance indicators (KPIs), market sources had said. The company's key performance indicators include its number of orders, average order value and annual transacting customers. Unicommerce's issue is entirely an offer for sale (OFS) aggregating up to 2.98 crore equity shares by the selling shareholders. Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan's SoftBank, will offload 1.61 crore shares, promoter AceVector Limited (formerly known as Snapdeal Limited) will sell up to 1.14 crore shares, and B2 Capital Partners will be selling up to 22 lakh shares. Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders. Shares of these four companies will be listed on the BSE and NSE. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank">Vraj Iron and Steel IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a>

FirstCry's parent firm Brainbees Solutions gets Sebi's go ahead to float IPO

If there are two things <keyword id="6354321" type="General" weightage="50" keywordseo="bengaluru" source="Orion">Bengaluru</keyword> residents can't seem to stop talking about, it's the city's serene weather and its equally tiresome traffic congestion. And this isn't baseless either; the <keyword id="6354780" type="General" weightage="20" keywordseo="karnataka" source="Orion">Karnataka</keyword> capital was just ranked one of the slowest places to drive in — and anyone who regularly commutes in the city will willingly attest to it. While actively fighting the climate battle, it seems like we only take a step back on the traffic front every year. However, the Bengaluru Metropolitan Transport Corporation (<keyword id="6371543" type="General" weightage="50" keywordseo="bmtc" source="Orion">BMTC</keyword>) has been valiant in replacing large fleets of traditional fossil-fueled buses with their electric counterparts. And now, we might be looking at a new contender soon: <keyword id="169046" type="General" weightage="100" keywordseo="hydrogen" source="Orion">Hydrogen</keyword> Buses. Olectra Greentech, partnered with <keyword id="10926" type="General" weightage="50" keywordseo="reliance" source="Orion">Reliance</keyword>, unveiled their Hydrogen Bus last Thursday due to be released next year – and things look extremely promising, at least on paper. Initial reports have already indicated that these Hydrogen buses might even pack a bigger punch than the current electric buses. Let's see how the two compare. The immediate advantage <keyword id="16634757" type="General" weightage="80" keywordseo="olectric" source="Orion">Olectric</keyword> seems to boast is that their Hydrogen buses almost triple the range they can ply at full capacity. While current electric buses (produced by <keyword id="6357085" type="General" weightage="50" keywordseo="ashok-leyland" source="Orion">Ashok Leyland</keyword> and JBM Auto) can ply around 150 kilometres on a single charge, the new Hydrogen buses completely dominate this figure with a massive 400-kilometre range, even higher than most private electric vehicles you can buy now. Also, hydrogen cells are typically much quicker to charge than traditional e-vehicles. On paper, the Ashok Leyland buses take about 45 minutes to fully charge at a quick charging facility, while the Olectric buses take only about 15 minutes. The new hydrogen buses could even transit with more passengers than current e-buses. According to the company, the 12-metre low-floor bus has a "customisable seating capacity" of 32 to 49 passenger seats. In comparison, the smaller green JBM e-bus only seats 30, while the larger purple bus seats around 40-45 people. Fossil fuelled buses like the <keyword id="6194475" type="General" weightage="50" keywordseo="karnataka-sarige" source="Orion">Karnataka Sarige</keyword> also boast about 40 seats. Despite looking like the <keyword id="6072152" type="General" weightage="50" keywordseo="vayu-vajra-ac" source="Orion">Vayu Vajra AC</keyword> buses, the current e-buses don't sport AC facilities. However, many drivers have praised the new e-buses nevertheless, calling them easier to drive and control. In addition, these buses also contain an electronic ramp for wheelchair access, something that is distinctly absent from the city's fossil-fueled BMTC buses. Similar to the e-buses, Olectric's hydrogen buses produce no emissions, generating only water as they ply. However, Hydrogen vehicles are a relatively new technology and will require new infrastructure to get on their feet. In addition, Hydrogen is highly flammable, and its handling could be precarious. Bengaluru has been no stranger to change, with the city almost looking unrecognisable every few years. While Olectric's Hydrogen buses seem to have current e-buses beat in almost every front, it will undoubtedly be interesting to see how the rivalry of these two shapes the city's public transit shortly. <h2>Recommended stories:</h2> <div type="Article" hostid="261" msid="98156851" title="UK’s 4-day work week trials show massive gain in revenue, employee satisfaction and many climate benefits" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="97987975" title="Fashion industry needs to move &amp;quot;further&amp;quot; and &amp;quot;faster&amp;quot; to meet 1.5°C target, prove they care about real change: UN expert" mstype="2" mssubtype="0"></div>

Are the next-gen Hydrogen buses introduced by Olectric and Reliance already better than current BMTC e-buses?

<ul><li>SoftBank is investing $400 million into babycare startup FirstCry. </li><li>The investment will help FirstCry become a unicorn, which are startups valued at over $1 billion. </li><li>The Japanese investment firm already has a leading stakes in many other Indian unicorn startups.</li></ul>SoftBank is leading yet another Indian startup into the unicorn club. The Japan-based investment firm has put in <a href="https://techcircle.vccircle.com/2019/01/22/exclusive-baby-products-e-tailer-firstcry-raises-150-mn-from-softbank">$400 million</a> into FirstCry, a Pune-based babycare and mothercare retailer. The investment is being put in by SoftBank in tranches, with $150 million hitting FirstCry’s as the first round. The funding will take FirstCry’s valuation to <a href="https://yourstory.com/2019/01/softbank-invests-babycare-firstcry/">$800 million</a>, making it just $200 million short of becoming a unicorn, which in startup lingo is used to refer to companies valued at over $1 billion. FirstCry, founded nine years ago, has a <a href="https://inc42.com/buzz/softbank-eyes-40-stake-in-firstcry-for-400-mn/">presence </a>in over 125 cities with 300 retail outlets. Its previous investors include <keyword id="145350" type="COMPANY" weightage="20" keywordseo="IDG-Ventures">IDG Ventures</keyword>, SAIF Partners, Valiant Capital Partners and Indian businessman Ratan Tata. Indian startups have seen some big successes lately, with eight<a href="https://www.business-standard.com/article/companies/india-picks-up-pace-in-producing-unicorns-8-new-startups-join-2018-club-118102501079_1.html"> unicorns </a>added to the prestigious club in just 2018, taking the total number of unicorns in the country to 18. In what reflects SoftBank’s massive role in India’s startup scene, most members of this $1 billion-valuation club include Ola, Paytm, Policybazaar, <keyword id="2550719" type="COMPANY" weightage="20" keywordseo="OYO-Rooms">Oyo Rooms</keyword>, among others -- are already backed by the investment bank. Its $100-billion Vision Fund has its eyes set on the Indian startup ecosystem. See Also: <a href="https://www.businessinsider.in/after-minting-1-billion-from-flipkart-sale-sachin-bansal-is-now-betting-big-on-ola/articleshow/67526383.cms">Watch out Uber. Sachin Bansal gets Ola share after selling Flipkart</a> <a href="https://www.businessinsider.in/former-indigo-chief-is-aiming-to-make-the-6-year-old-oyo-the-worlds-largest-hotel-chain/articleshow/67536612.cms">A 6-year-old Indian startup wants to be world’s biggest hotel chain</a> <a href="https://www.businessinsider.in/byjus-is-going-global-with-its-latest-acquisition-of-us-based-osmo/articleshow/67569325.cms">Online tutoring startup Byju’s is the latest Indian ‘unicorn’ going global</a>

This Indian babycare startup is closing in on the unicorn club

<div class="KonaFilter image-container float_right"><div class="image on-image"></div></div>Pinterest has raised an additional $186 million in funding, with new investors Goldman Sachs and Wellington Management Company contributing to a hefty financing round that now totals more than a half a billion dollars.The additional funding, which <a href="http://recode.net/2015/05/08/pinterest-adds-186-million-to-series-g-round-lets-employees-sell-shares/">was reported by Re/code on Friday</a>, marks the completion of a Series G funding round that valued the privately-held San Francisco company at $11 billion. Pinterest <a href="http://www.businessinsider.com/pinterest-raises-367-million-at-11-billion-2015-3">raised $367 million earlier this year</a> and said in a regulatory filing at the time that it could raise an additional $208 million. It seems there are plenty of investors eager to bankroll the richly-valued social networking company, which began experimenting with its first revenue generating ads in January. Goldman Sachs and Wellington join existing investors Andreessen Horowitz, Bessemer Venture Partners, FirstMark Capital, SV Angel, Valiant Capital Management and Fidelity Investments. Pinterest will also allow its employees to cash out some of their equity, by arranging a so-called "secondary offering" with unnamed external investors at the $11 billion, according to Re/code. Employees with stock options that vested before April 30 will be able to sell a "small portion" of their shares. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/twitters-ipo-on-the-nyse-2013-11">What It Was Like On The Trading Floor During Twitter's IPO</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="phamt4ZzpxeEsH-ezdBXWahE3cdQ6_dg" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Pinterest has now raised more than half a billion dollars in its latest financing round

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Uber has expanded its most recent round of funding by $1 billion, the <a href="http://dealbook.nytimes.com/2015/02/18/uber-expands-funding-round-by-1-billion/?smid=tw-dealbook&amp;seid=auto&amp;_r=0">New York Times reported Wednesday</a>, citing Delaware Secretary of State documents.This brings Uber's Series E round of funding up to $2.8 billion. In December 2014, Uber announced its $1.2 billion Series E round, funded by New Enterprise Associates, Lone Pine Capital, Valiant Capital Partners, and Qatar Investment Authority. Chinese search engine Baidu contributed $600 million to Uber's Series E round in December too. Last month <a href="http://www.businessinsider.com/uber-may-have-just-raised-another-16-billion-2015-1">Uber r</a><a href="http://www.businessinsider.com/uber-may-have-just-raised-another-16-billion-2015-1">aised a $1.6 billion round</a> of convertible debt financing from Goldman Sachs, which was separate from its December fundraising.When Uber announced its Series E round back in December <a href="http://blog.uber.com/ride-ahead">on the company's blog</a>, CEO Travis Kalanick said it would be using the investment money to create more than 1 million jobs in 2015 and to "make significant investments, particularly in the Asia Pacific region." Kalanick also vowed that his company, which <a href="http://www.businessinsider.com/uber-ceo-aplogizes-for-emil-michaels-journalism-comment-2014-11">had its share of public relations mishaps</a> in 2014, would be "smarter and more humble" moving forward.Uber confirmed the expansion to the Times. Uber is one of the most valuable private tech companies in the world <a href="http://www.businessinsider.com/uber-may-have-just-raised-another-16-billion-2015-1">with a $41 billion post-money valuation.</a> Uber <a href="https://www.crunchbase.com/organization/uber">has raised over $4 billion</a> since its founding in 2009. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-headphones-tricks-2015-2">14 things you didn't know your iPhone headphones could do</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="o2OGM3czpWcydnvhjbkDBd6feXPuExiD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Uber gets another $1 billion from investors

Rojava Defense UnitNicholas Alan Warden.Two Americans were killed last week while fighting with US-backed Kurdish YPG units near Raqqa, ISIS' de facto capital in Syria.Nicholas Alan Warden, 29, was killed July 5, and Robert Grodt, 28, was killed on July 6 in the same battle, the YPG <a href="http://www.ypgrojava.org/The-Rojava-Revoultion-is-the-revolution-of-all-the-peoples-of-the-world" target="_blank" rel="noopener noreferrer">said</a> in press release on Tuesday. A British volunteer, Luke Rutter, 22, was also killed on July 5.Little is known about how they died, but one YPG fighter <a href="https://www.ypgrojava.org/Demhat-is-now-a-candlelight-in-the-Rojava-Revolution-illuminated-by-martyrs" target="_blank" rel="noopener noreferrer">said</a> the three Westerners were with a small group returning from an operation when someone stepped on a mine and then the group started taking fire.Warden and Rutter were badly wounded and brought back to the hospital, while Grodt supposedly died in the field, the YPG fighter <a href="https://www.ypgrojava.org/Demhat-is-now-a-candlelight-in-the-Rojava-Revolution-illuminated-by-martyrs" target="_blank" rel="noopener noreferrer">said</a>."The day before I had seen [Warden, Grodt, and Rutter] together," the YPG fighter said. "Their faces were beaming; they were finally heading to the frontlines, a moment they had been waiting for, for a long time."In a YPG video posted on Tuesday, Warden said he was from New York and "joined the YPG to fight ISIS because of the terrorist attacks they were doing in Orlando, in San Bernadino, in Nice, in Paris."His father, Mark Warden, <a href="http://buffalonews.com/2017/07/11/depew-fathers-fight-freedom-ends-death-syria/" target="_blank" rel="noopener noreferrer">told</a> The Buffalo News that his son had served in the US Army for nearly five years, completing two tours in Afghanistan, and had also been in the French Foreign Legion for five years, helping fight Boko Haram in Chad.His dad said he started talking about joining the Army after September 11."Ever since that, he was like: 'Dad, I'm going in the military, I'm fighting these people," his dad said. "He's been battling since he was 18 years old, as soon as he was able to," despite having a medical condition that made him "prone to dizzy spells.""He was just one of those guys that seemed fearless all the time," Steve Tylka, who served with Warden in the US Army, told The Buffalo News."He was incredibly social," Tylka also said. "If you were in his circle of friends, it was close. He was always there. His sense of humor is probably what people know him for the most. He was always cutting up. He always had wisecracks and could turn anything into a joke."In another video YPG posted on Tuesday, Grodt said that he was from California and joined to "help the Kurdish people in their struggle for autonomy in Syria and elsewhere. Also to do my best to fight [ISIS] and help create a more secure world."Grodt was reportedly a former Occupy Wall Street activist, who became well known after helping a female activist who had been pepper-sprayed, The Guardian <a href="https://www.theguardian.com/uk-news/2017/jul/11/british-man-luke-rutter-killed-fighting-isis-in-syria" target="_blank" rel="noopener noreferrer">reported</a>. They became friends after that and eventually had a child together. "Nothing strengthens a relationship like a chemical agent," he reportedly said. "To my daughter, I'm sorry that I'm not there ... just know that I love you all," Grodt said in the YPG video.In another video, posted below, Grodt said he had been in Syria for five months and had started paying attention to the Kurdish struggle when a journalist "said that it was the one good thing that came from the Iraq, that it gave the Kurds a chance." "It's not just important for the Kurds," he said. "It's important for the Middle East to have something like this to take hold and work.""He was there helping oppressed people, his lifelong passion," Elizabeth Clark, a relative of Grodt, wrote on Facebook. "I will always remember Rob for his commitment to his ideals."In a third YPG video posted on Tuesday, Luke Rutter said that he was born in Liverpool and that he joined because, "the YPG stand for the best opportunities of peace that this region might have."He said that he lied to people he cared for about going to Syria: "I said I was going somewhere else. I didn't. I apologize massively for that. Apart from that, I don't regret my decision, and I hope you can respect that."A Kurdish activist told Rutter's mom about his death, The Guardian reported. "She was obviously very upset," the Kurdish activist said. "She said she didn't know he was even in Syria. She has asked for privacy to grieve for her son."Warden is survived by an 18-month-old daughter in France, The Buffalo News said. Grodt is survived by his 5-year-old daughter and partner, Kaylee Dedrick, The Washington Post <a href="http://www.post-gazette.com/news/world/2017/07/12/Two-Americans-killed-battling-Islamic-State-in-near-its-Syrian-de-facto-capital-Raqqa/stories/201707120089" target="_blank" rel="noopener noreferrer">reported</a>.About a dozen American volunteers have died fighting in Syria, including Warden and Grodt, according to The Post. It's not known how many more Americans volunteers are currently there. <h3>NOW WATCH: <a href="http://www.businessinsider.com/watch-king-of-jordan-participate-in-military-exercise-abdullah-ii-isis-training-syria-coalition-iraq-terror-2017-4">Watch the King of Jordan participate in a military exercise with his armed forces</a></h3> Please enable Javascript to watch this video

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