China Investment Corp. has invested $400 million into GrabTaxi, the Southeast Asia ride-hailing startup, the Wall Street Journal reports. The $740 billion Chinese sovereign wealth fund also invested in another taxi app, China’s Didi Kuaidi last month. Singapore based GrabTaxi is reportedly valued at between $1.6 billion and $1.8 billion, post money. Both GrabTaxi and Did Kuaidi are serious competitors to Uber in Asia.
The Honest Company, a lifestyle health brand, has raised $100 million in Series D financing. Glade Brook Capital Partners led the round and was joined by new investor AllianceBernstein and existing backers Fidelity Management & Research Company, Wellington Management Company and Institutional Venture Partners. The company will use the funds for new products, including a line of skincare, hair care products, and for global expansion. “At The Honest Company, we dream big to fulfill our vision of a healthier and more conscious future. With this funding and our partners’ support, we are being given an opportunity to make an even greater impact. We look forward to continuing our growth in the marketplace and meeting our consumers’ evolving needs,” said The Honest Company Founder and Chief Creative Officer, Jessica Alba.
Massdrop, a community-driven commerce platform, has raised $40 million in Series B funding. August Capital led the round, with participation from First Round Capital, Mayfield Fund and Cowboy Ventures. “Our goal is to build the future of interest based communities and in order to do so, we need to be able to understand them at a deeply rooted level,” said Steve El-Hage, CEO and Founder of Massdrop. “We will continue focusing on community above all else and these funds will play a big role in helping us to grow and scale our platform.”
ChatID, a messaging platform connecting retailers, brands and consumers, has closed a $11.23 million Series B round of funding. Costanoa Venture Capital led the round, which brings the company’s total investment raised to $19.2 million. “We are thrilled to partner with Costanoa Venture Capital. Neill Occhiogrosso, Greg Sands and the Costanoa team have a track record of success in scaling high-growth SaaS and commerce-focused companies like ChatID. We are particularly excited about the strategic and operational support they bring to ChatID. We have never been in a better position to enable unparalleled consumer experiences for our clients,” Dan Herman, CEO and Co-Founder of ChatID.