Mobile gaming was in the VC spotlight last week, led by the $100M Series A raise by potential Zynga (NASDAQ:
Playco game demo image supplied by the company.
Other top VC deals of the week:
- Baidu (NASDAQ:BIDU) and Tencent (OTCPK:TCEHY,OTCPK:TCTZF) joined the $1.47B Series D for Chinese EV startup WM Motor, which will put the funds toward R&D, marketing, and sales channel expansion. WM competes with publicly-traded Nio (NYSE:NIO), Xpeng (NYSE:XPEV), and Li Auto (NASDAQ:LI). Bloomberg previously reported that WM is eyeing an IPO on Shanghai’s STAR Market as early as this year.
- Robinhood (RBNHD) added another $460M to the $200M Series G announced last month for a post-funding valuation of $11.7B. Initial lead funder D1 Capital Partners returned with help from Andreessen Horowitz and Sequoia Capital, among others Robinhood will continue using the money for core product and customer experience improvements and new offerings, like cash management and recurring investments.
- CapitalG, Alphabet’s (GOOG,GOOGL) independent growth fund, led the $250M Series D for small business digital insurance Next Insurance. The round valued Next at about $2B. The funds will partially help Next complete its product to become a “one-stop shop” for enterprise insurance needs.
Editor’s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.
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