Bristow Group, a Houston-based company that provides helicopter services to the energy sector, is investing $4.2 million in Sky-Futures, a UK-based start-up that uses drones to conduct engineering surveys of off-shore oil and gas rigs. Sky-Futures, founded in 2009, currently works with 36 large oil and gas firms around the world, according to a Bloomberg news report.
Rakuten to lay off 150 staff
Japanese e-commerce giant Rakuten will be shutting its Singapore, Malaysia and Indonesia marketplaces, by March 2016. Nearly 150 staffers are expected to be laid off. The firm will assist employees with finding jobs and giving severance packages in accordance with local laws. It earned $6.34 billion in consolidated revenue in 2015, up from $5.31 bn in the year before.
Berkshire, XL to back Lemonade
Alba's firm to work with Goldman, Morgan Stanley
Honest, an online shopping start-up co-founded by actress Jessica Alba, is working with Goldman Sachs and Morgan Stanley on an initial public offering, according to people familiar with the matter. Since Alba helped start the eco-friendly firm in 2011, it has expanded from selling natural baby products to home cleaning and beauty items online and in stores, including Target Corp and Whole Foods Market.
Call Levels raises funds from Lippo
After closing a pre-series-A round in November last year, Singaporean start-up Call Levels has announced a strategic investment from Indonesia's Lippo Group. for an undisclosed amount. Lippo wanted to invest even after Call Level's pre-A round was closed, co-founder Cynthia Siantar told Tech in Asia. The start-up is still planning to raise a series-A round two months down the line.
US-based venture capital firm 500 Startups and angel investors from Singapore's financial industry are among Call Level's early backers.
If you have any information to share,
please write to bsreporter@bsmail.in
Rakuten to lay off 150 staff
Japanese e-commerce giant Rakuten will be shutting its Singapore, Malaysia and Indonesia marketplaces, by March 2016. Nearly 150 staffers are expected to be laid off. The firm will assist employees with finding jobs and giving severance packages in accordance with local laws. It earned $6.34 billion in consolidated revenue in 2015, up from $5.31 bn in the year before.
Berkshire, XL to back Lemonade
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Lemonade, the new peer-to-peer insurer, backed by Sequoia Capital, said reinsurers including Berkshire Hathaway's National Indemnity and XL Group will back-stop contracts arranged through the start-up. "Consumer trust is at the heart of the insurance business and essential to the success of any new venture.," XL chief executive officer Mike McGavick said.
Alba's firm to work with Goldman, Morgan Stanley
Honest, an online shopping start-up co-founded by actress Jessica Alba, is working with Goldman Sachs and Morgan Stanley on an initial public offering, according to people familiar with the matter. Since Alba helped start the eco-friendly firm in 2011, it has expanded from selling natural baby products to home cleaning and beauty items online and in stores, including Target Corp and Whole Foods Market.
Call Levels raises funds from Lippo
After closing a pre-series-A round in November last year, Singaporean start-up Call Levels has announced a strategic investment from Indonesia's Lippo Group. for an undisclosed amount. Lippo wanted to invest even after Call Level's pre-A round was closed, co-founder Cynthia Siantar told Tech in Asia. The start-up is still planning to raise a series-A round two months down the line.
US-based venture capital firm 500 Startups and angel investors from Singapore's financial industry are among Call Level's early backers.
If you have any information to share,
please write to bsreporter@bsmail.in