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- October was a bountiful month for startup funding
Global venture funding in October held steady at $23 billion and followed a strong third quarter, according to Crunchbase data. At the same time, 14 new unicorn companies were created last month—the second-highest monthly total this year—indicating that despite a raging pandemic and uncertainty around the U.S. election, venture investors continued to deploy record amounts of cash. - Lending platform Upstart files for IPO
Lending platform Upstart filed to raise up to $100 million in an initial public offering on Nasdaq. The San Carlos, California-based company, which uses AI to assess creditworthiness, posted revenue of $147 million in the first nine months of this year, paired with a profit of $4.5 million. - Cellwize lands $32M for wireless networks
Cellwize Wireless Technologies, a developer of technology for mobile network automation and orchestration, raised $32 million in a Series B round led by Intel Capital and Qualcomm Ventures. The startup, headquartered in Southlake, Texas, says its technology enables mobile network operators to accelerate 5G network deployment. - Vimeo raises $150M as IAC eyes spinout
IAC announced that it is considering a spinoff of Vimeo, a platform for businesses to make videos, that has seen sharp growth amid the pandemic. As part of the plan, Vimeo raised $150 million in equity from Thrive Capital and GIC at a valuation of $2.75 billion. - Startups focus on farmers as agtech funding soars
In the past five years, startups have increasingly turned their attention to the farm, and investors are following their lead. So far in 2020, venture investors have sunk over $4 billion into more than 400 agriculture technology deals, on pace for a record-setting year, with startups working on everything from carbon-removing crackers to digitized grain silos. - Keep up with the Crunchbase News Briefing
To keep up on breaking news throughout the day, check out the Crunchbase News Briefing. This continuously updated daily feature on our main news site has summaries of notable funding announcements, IPOs, M&A, and other happenings in the startup world.
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