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Virtual social network IMVU raises $35M from China’s NetEase and others

TechCrunch

The line between social networking and gaming is increasingly blurring , and internet incumbents are taking notice. NetEase, the second-largest gaming company in China (behind Tencent), is among a group of investors who just backed IMVU, an avatar-focused social network operating out of California.

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Four Fundamental Innovations of Web3 that Will Upend Web2 Incumbents

Tomasz Tunguz

” Internet hegemons have decimated entire spaces: social networks, advertising technology, video streaming and rental, paid email, infrastructure. Their economies of scale and network effects mount significant barriers to competition. A social network rewards its most valuable users in the coin of the realm.

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DriveNets connects with $262M as demand booms for its cloud-based alternative to network routers

TechCrunch

billion networked devices projected to be in use by 2023 and the growth rate currently at around 10%. and United Emirates; and existing backers Bessemer Venture Partners, Pitango, D1 Capital, Atreides Management, and Harel Insurance Investments & Financial Services are also participating. While it first made its name in the U.S.,

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Lowercarbon Capital and Gradient Ventures Invest $9M in Quilt for Advanced Residential Heat Pump System

American Entrepreneurship

The company’s mission to reduce home-based fossil fuel dependency has attracted additional support from Incite Ventures, MCJ Collective, Garage Capital, Climate Capital, and Spacecadet. However, most heat pump systems today are more difficult to use than their more mature fossil incumbents.

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Make no bones about it, Fuzzy expands reach into pet care market with capital infusion

TechCrunch

Today, Fuzzy announced $44 million in growth funding to expand its digital pet care network of veterinary professionals to alleviate some of the strain on the industry and make care accessible and affordable to all. In addition, 25% of the capital was raised from underrepresented communities, Bhettay said. Fuzzy live chat via its app.

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Equal access to capital and entrepreneurship is the final civil rights movement

TechCrunch

But despite my privilege, I’m also confident that my Black heritage made it more difficult for me to raise venture capital. Today — and the data proves this — if you are a white male, you have an unfair advantage when looking to raise venture capital. At the time, I didn’t even know that raising venture capital was a possibility.

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Truepill’s latest funding boosts valuation to $1.6B as it works on B2B side of healthcare

TechCrunch

After developing a network of telehealth, diagnostics and pharmacies for consumers, digital health company Truepill is targeting healthcare incumbents like health payers, providers and employer groups. It is still early but if we start to show what we can do, we will be helping 330 million people in the U.S.