The Briefing: McAfee Falls After IPO, Azura Lands $20M, And More

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.

McAfee shares fall in market debut

Shares of security software provider McAfee opened 7 percent down in first-day trading Thursday, marking a disappointing debut.

The company priced shares for its initial public offering at $20 each, on the lower end of its price range of $19 to $22 a share.

The offering  reportedly raised  around $740 million for McAfee, which began trading on Nasdaq under the ticker symbol MCFE.

It’s a bit of a return to the way things were for the company, which used to be publicly traded. It was bought more than a decade ago by Intel, which later sold a majority stake in 2016 to private equity firm TPG.

Funding rounds

  • Yuanfudao raises $2.2B for online tutoring: Beijing-based online tutoring startup Yuanfudao said on Thursday it had raised $2.2 billion in two recent rounds of financing, lifting the company’s valuation to $15.5 billion. Tencent led one round of $1.2 billion, while DST Global led another round. Read more here.
  • Azura lands $20M: Azura Ophthalmics, an Israel-based clinical-stage company developing treatments for dry eyes and eye diseases, announced a $20 million round of financing led by a syndicate of existing investors including OrbiMed, TPG Biotech, Medical Research Commercialisation Fund and Ganot Capital. The funding will be used to advance its lead product candidate through additional studies.
  • RaiseNow brings in $5.9M: Charitable giving technology provider RaiseNow, based in Zurich, announced a Series A+ investment of $5.9 million, led by SIX FinTech Ventures, with existing investor PostFinance and individual investors also participating. The funds will go toward further developing the platform to help nonprofit organizations find supporters, rally communities and raise funds.
  • Silverflow banks $3M: Silverflow, an Amsterdam-based payment technology company, announced $3 million in seed funding led by Crane Venture Partners with participation from INKEF Capital and a group of angel investors. Silverflow is building a cloud platform for global card processing with direct access into the card networks and will launch its card payments processing technology in early 2021.
  • Enviral Tech raises $1.5M: Eugene, Oregon-based Enviral Tech, a biotechnology company focused on environmental viral surveillance solutions including COVID surface testing, closed on $1.5 million in seed funding. The funding will be used to meet demand from long-term care facilities, schools and business marketplaces. The round was led by Rogue Venture Partners with participation from Cascade Seed Fund and private investors.

Other news

Ant gets approval for massive IPO:  Chinese fintech giant Ant Group has reportedly cleared the final regulatory hurdle for its massive initial public offering in Shanghai and Hong Kong, with the pricing of its shares slated to be released within the next week.

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