An unnamed bidder has paid $28 million for a seat on the first crewed spaceflight by Jeff Bezos’s Blue Origin. On Saturday the company hosted an online auction, inviting wealthy space enthusiasts…
Construction Startup Katerra to Shut Down After More Than $2bn in Funding
SoftBank-backed construction startup Katerra is to shut down, after receiving more than $2 billion in funding. The company told employees it will be shutting down operations, according to a report in The…
Klarna Set for New Funding Round at $40 billion Valuation
Swedish fintech startup Klarna is reportedly close to securing a new round of funding that would value the company at more than $40 billion. Klarna offers a buy-now-pay-later service to retailers and…
Pipeline CEO Admits to Paying $4.4m to Ransomware Hackers
The CEO of Colonial Pipeline has confirmed the company paid $4.4 million in ransom to the hackers who disabled its pipeline in May. In an interview with the Wall Street Journal, Joseph…
Israel’s YL Ventures Sells Axonius Stake for $270m, Just a Week After Unicorn Valuation
Israeli venture capital fund YL Ventures has sold its stake in compatriot cybersecurity firm Axonius – just days after the latter was valued at over a billion dollars. The stake, worth around…
OurCrowd Jobs Index Shows Startup Hires Growing Despite Pandemic
Startups backed by influential Israel-based equity crowdfunding group OurCrowd are looking to hire in greater numbers, despite the lingering COVID-19 pandemic. The number of jobs listed by OurCrowd’s global portfolio companies more…
For Vertical Farms to Succeed, Sensors Must Take Center Stage
Vertical farming—the process of cultivating produce in stacked, indoor shelves, rather than side-by-side in fields—is a fast-growing industry (pardon the pun). Since it was conjured (or revived, depending who you ask) in…
Wadiz Blazes a Crowdfunding Trail in Korea
Red Herring spoke to David (Hyesung) Shin, the CEO and co-founder of wadiz, the largest crowdfunding platform in Korea. What is the story of the founding of the company in 2012? wadiz…
Broadband Startup Isotropic Systems Gets $42m Injection from Aerospace Heavyweights
British broadband terminal startup Isotropic has won a $42 million funding round, which it says brings the firm closer to its first commercial product rollout. The round, led by satellite company SES,…
Singapore’s Cialfo Closes $15m Series A Funding Extension
Singapore-based edtech startup Cialfo, which uses data to streamline college and career workflows, has extended its Series A funding round to the tune of $15 million. The new round, spearheaded by Vulcan…