Online used car retailer Vroom raised $254 million in a funding round that a source said gave it a $1.5 billion valuation. Some of the new capital will be spent on expansion of its Detroit product and engineering facility.
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Cyberhaven, a startup focused on helping companies defend against theft of trade secrets, raised $13 million in Series A funding. The company will use the capital to support development of its product.
Infinitum Electric, a startup that is designing electric motors for use in multiple industries, raised $12.5 million. The company plans to begin shipping products in June.
SignalFire led a $6 million seed round for Apostrophe, a startup that brings patients and dermatologists together. Apostrophe facilitates the distribution of the prescriptions needed as part of a treatment plan.
Shipium, a startup that helps retailers with their logistics, raised $2 million in its seed round. The company describes what it provides to its clients as "supply chain optimization and data processing as a service."
US Treasury Secretary Steven Mnuchin says he and Federal Reserve Chairman Jerome Powell agree there is no need for the central bank to introduce a digital currency. Mnuchin says that he has no problem with Facebook creating a digital currency but that it must comply with rules on money laundering and bank secrecy.
Wildlife Studios, a mobile game studio launched in Brazil in 2011, raised $60 million at a $1.3 billion valuation. "Over the last couple of years, we expanded our team presence internationally, opening offices in the US," said CEO Victor Lazarte.
Information Venture Partners led a $20 million round for Thoughtexchange, a Canadian startup that describes itself as a "crowdsourcing intelligence platform."
EU finance ministers say they don't want any new stablecoins, like Facebook's Libra, launched until the bloc has developed a common approach to govern them. Stablecoins could provide certain benefits, but they also pose challenges related to issues such as consumer protection, taxation and money laundering, according to a statement from the European Council and European Commission.
Streem, maker of augmented reality technology for the home-improvement industry, has been acquired by Frontdoor. The Stream team will remain at its current location in Portland, Ore.
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