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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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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%. This Series C is being led by D2 Investments, a new investment fund with LPs from the U.S. This Series C is being led by D2 Investments, a new investment fund with LPs from the U.S.

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The Opening

A VC: Musings of a VC in NYC

I like to think of investing in new things a bit like a football running play. I’ve always thought the opening would be at the intersection of gaming, online communities, and social networks. So the existing incumbents are the defensive line. And they are not taking on any of the incumbents directly. And so is Axie.

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Sequoia Heritage, Stripe and others invest $200M in African fintech Wave at $1.7B valuation

TechCrunch

The investment is the largest-ever Series A round for the region, and it values Wave at $1.7 Four big-name backers jointly led the round — Sequoia Heritage, a private investment fund and a subsidiary of Sequoia; Founders Fund; payments upstart Stripe; and Ribbit Capital. . ” Going up against incumbents.

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AI-powered supply chain startup Pando lands $30M investment

TechCrunch

Signaling that investments in the supply chain sector remain robust, Pando , a startup developing fulfillment management technologies, today announced that it raised $30 million in a Series B round, bringing its total raised to $45 million. Customers can customize the tools and apps or build their own using Pando’s APIs.

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

American Entrepreneurship

“However, most heat pump systems today are more difficult to use than their more mature fossil incumbents. Lambert served as Director at Google’s Area 120, where he led the division’s sustainability investments. We’re developing heat pumps that are better than any HVAC system of any kind.

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Razor’s Edge Ventures closes $340M fund as it looks to invest in defense startups

TechCrunch

In a sign that national security tech is a safe bet even during troubled economic times, defense- and security-focused VC firm Razor’s Edge Ventures today announced the closing of its third startup investment fund at just under $340 million. For example, Razor’s Edge recently invested in Corsha , a Washington, D.C.-based