The following startups announced funding rounds across Fintech, Proptech and AI sectors on 5th January:
Estonian R8tech raises €900K for expanding in new markets
A Tallinn based digital building operator startup; R8tech announced closing a €900K investment on 5th January 2021. Kristjan Mitt, the co-owner of Mitt & Perlebach construction and real estate development group was the lead investor and the round.
Founded in 2017 the digital building operator platform of the startup utilizes the advantage of Building Management Systems from several shopping centers, office buildings and the commercial buildings with multiple (thousands or tens of thousands) sensors and data points. The startup is operating successfully in 12 countries across the European Union, including Austria, Poland, Finland, Netherlands and Portugal. R8tech is planning to invest the funding for exploring new markets. It continuously monitors and optimizes the indoor climate, detects the faults, and manages several tasks for the Proptech companies.
French Tagpay announced €25 million funding
Tagpay, a French best core banking system provider of technology, announced securing €25 million funding on 5th January 2021. Brown was led by long Arc capital. As a part of the deal the New York City headquartered Long Arc capital will acquire a majority stake in the startup with the existing investor Society General as a minority stakeholder and long standing partner.
The company provides the next generation and cost-effective core banking system for the financial institutions. The products offered aim at transforming the inefficient and costly legacy systems into open architecture and scalable systems that can help financial institutions in the innovation and improvement of customer experience.
AI tech enterprise Graphcore secures US$222 million Series E funding
A UK based Artificial Intelligence enterprise Graphcore announced securing US$ 222 million Series E investment on 4th January 2021. The funding round was led by Ontario Teachers’ Pension Plan Board and included funds managed by Schroeders and Fidelity International as the new investors in the enterprise. The existing investors of Graphcore that include Draper Spirit and Ballie Gifford also participated in the round. The city round brings the total investment of the company to US$710 million which brings the company at 2nd position in terms of artificial intelligence chip pure play companies.
The company is already in their second generation product with the launch of Colossus MK2 GC200 last year this chip has 60 billion transistors, 900MB in-built memory, can achieve 250 TFLOP AI compute and it is manufactured on the N7 node of TSMC at a 823 mm2.
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