Almost two years ago we added Bluesmart to our list of portfolio startups and same year after six months Bluesmart added more $11.5M to its capital to prove its potential. Keeping its growth steady, Bluesmart has again won the hearts of its investors and raised another $12M funding in Series A round led by Tsing Capital. We are very happy to make this announcement and being part of Bluesmart. Just to share, Bluesmart is no more just Blue. It also offers a Black Edition now.
Tsing Capital is one of the largest venture firms in China. The partner leading this round, Michael Li, is a former Kleiner Perkins Caufield Byers partner with strong expertise in cross-border technology companies. This investment comes from a dedicated Tsing Capital fund called “Smartech Innovation Fund” which is focused on Internet of Things and connected devices. We will leverage this partnership to continue our manufacturing and global operations in Asia. With the proceeds we plan to expand our product line in order to continue our mission of helping people travel the world in a smarter way.
“With a long history of venture capital investing in China and North America, we are pleased to add Bluesmart to our portfolio of sustainable life style companies,” said Li. “China represents one of the largest and fastest growing markets for premium luggages globally, and we look forward to helping support Bluesmart’s expansion and product delivery.”
Please read full story at Medium.
Almost two years ago, we invested in Eight (formerly called Luna and member of YCombinator’s Summer 2015 batch), a technology company that produces smart sleep products specially the smart mattress that includes a cozy mattress and smart cover which tracks your sleep and connects with your mobile through its app to show sleep data trends that can help you improve your sleep.
There has been a great demand of smart sleep technology like Eight but to further expand its business and market reach, it’s important to have more money in your reserves. And to keep moving forward on the road of success, Eight has raised $5M in series A round which increases its total funding amount to $11.62M.
Its technology tracks your sleep, allowing you to monitor the data on your phone and interacting with other ‘smart’ home products to warm your bed or start brewing your morning coffee. The tracker, which retails at $349 for a Queen, sold out of its 8,000 pre-orders.
Investors in this round include Yunqi Partners, Azure Capital, Y Combinator, Stanford StartX fund, Comcast Ventures, and Sinovation Ventures.
On Tuesday, as well as announcing its Series A, Eight will open the doors to its first showroom in downtown Manhattan. At the Eight Suite, shoppers can test out the startup’s mattresses, as well as see firsthand how its technology integrates with other ‘smart’ home brands like auto-thermostat devices from Nest.
Please read full story at Forbes.
We are pleased to announce that one of our portfolio startups, Flirtey – a premier delivery service using flying robots to deliver food, medicine, gifts, first-aid, books and mail has raised $12M in Series A round. When we invested in Flirtey less than two years ago, we were confident that it would fly high and deliver just like its drones. Good luck Flirtey!
Flirtey’s Series A round was led by the company’s seed investors, Menlo Ventures and Qualcomm Ventures, and joined by Chris Sacca’s Lowercase Capital, Y Combinator and World Innovation Lab, a firm that counts among its limited partners the Japanese airline ANA, Goodwater Capital, Amity Ventures and Partech Ventures.
Flirtey’s CEO, Matthew Sweeny said the company’s drone was designed with reliability and safety as priorities, obviously. Its flagship UAV is a hexacopter that can fly right if one of its six motors is taken out. It has two batteries, and can run if one of them fails, as well. The drone lowers a payload in a box from about 50 feet over a customer’s doorstep or other designated delivery area. If a would-be drone thief attempts to pull it down by the line, the drone detaches and safely fly away, Sweeny explained.
Flirtey was also the first company to attain FAA approvals to conduct a drone delivery in the US in 2015. That fact helped it land one of its drones in the Smithsonian’s National Air and Space Museum, a milestone that CEO Matthew Sweeny calls a “kittyhawk” moment for the startup.
Please read full story at TechCrunch.