As tech companies continue to attract investments around the world, it's exciting to see valuations rise with record-breaking funding rounds. So, we took a look at the most significant funding rounds across the globe from the last month.
Grab raises $850 million in Series I funding round
The Singapore-based technology company offering ride-hailing transport services, food delivery, and payment solutions, Grab raised around $850 million in a Series I financing round this February. It raised $706 million from Mitsubishi UFJ Financial Group Inc (MUFG) and $150 million from Japan-based IT service provider TIS Inc. The round will be used to fund the company's ongoing expansion into financial services across Southeast Asia.
Founded in 2012 by Anthony Tan and Tan Hooi Ling, Grab's Series I round means the company has now raised $9.2 billion. The latest funding round follows a push into financial services including consumer insurance and lending. In early 2019, Grab Financial Group submitted a joint application for a digital banking license with Singtel, the largest mobile operator in Singapore.
Revolut raises $500 million in Series D funding round
The London-based bank that facilitates users to purchase cryptocurrencies on its app has raised over $500 million in a Series D funding round. The round, led by Silicon Valley venture capital firm TCV, means the bank is now valued at over $5.5 billion.
The news from February means Revolut has now raised a total of $836 million. Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, the bank provides 10 million users with easy access to a host of financial services. In 2017 Revolut added bitcoin to its platform. The company will use the funding to improve existing products and services while expanding outside of its UK base.
Snowflake raises $479 million in Series G funding round
Cloud data warehouse company, Snowflake is now worth $12.4 billion following a $479 million Series G funding round led by Dragoneer Investment Group and Salesforce.com Inc.'s venture capital arm. The firm has received over $1.4 billion in funding.
The San Mateo, California-based company was founded in 2012 by Benoit Dageville, Marcin Zukowski, and Thierry Cruanes. At present, the cloud-based data company counts Adobe, Capital One, DoorDash, EA, Sony, and the University of Notre Dame among its customers.
Pony.ai raises $462 million in Series B funding round
Driverless car startup, Pony.ai secured $462 million in a Series B funding round, $400 million of which was invested by Toyota. This brings the Fremont, California-based company's total raised to $800 million and a valuation of $3 billion. Pony.ai is now the second most valuable independent driverless company in the world.
Last year, Toyota announced a partnership with the startup and the new financing is set to expand that partnership ahead of driverless pilots in Shanghai and Beijing. Last October, the startup also partnered with Via and Hyundai to launch BotRide, Pony.ai's second-ever public robo-taxi service after a pilot program.
Toast raises $400 million in Series F funding round
Toast, the cloud-based restaurant software company raised $400 million in Series F funding in February, bringing it to a $4.9 billion valuation. The round was led by Bessemer Venture Partners and TPG, Tiger Global Management and Greenoaks Capital.
The new funding will be used to invest in new products across hardware, software, and financial services to address pain points in the restaurant industry, according to chief financial officer Tim Barash. The Boston-based company, which was founded by Aman Narang, Jonathan Grimm, and Steve Fredette in 2011 now has total funding of $900 million.