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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.
Lalamove lands $515M Series E
Lalamove, a provider of online logistics for on-demand deliveries, raised $515 million in a Series E round led by Sequoia Capital China.
Founded in 2013, Lalamove initially operated in Hong Kong and China, but has since expanded to a global footprint. The company says it currently operates in 24 markets across Asia, Latin America and the United States, counting over 7 million users and a pool of over 700,000 driver partners.
Lalamove plans to use the latest funding in part to expand into smaller Chinese cities.
Funding rounds
- Octopus Energy raises $193M: U.K.-based Octopus Energy, a renewable power provider, raised $193 million in financing from Tokyo Gas. The two companies also said they will form a joint venture to supply power to retail customers in Japan.
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Boardable raises $8M for board management software for nonprofits: Boardable, an Indianapolis-based startup that makes software for nonprofits to boost board member engagement and streamline remote collaboration, raised $8 million in Series A funding led by Base10 Partners with participation from seed investor High Alpha.
Other news
XRP falls 24% following SEC charges: Cryptocurrency XRP fell 24 percent on Wednesday after U.S. securities regulators charged its associated blockchain firm, Ripple, with carrying out a $1.3 billion unregistered securities offering.
