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Capital Gains: Uber's China Rival Bulks Up by $2 Billion and More

Also, WeWork confirmed its monster $434 million round.

Todd Bernard

What happened on the funding front this week? Uber’s battle to win in China just got a lot tougher, WeWork got a lot bigger and other startups raised some serious money. Here are the details:

  • Didi Kuaidi, Uber’s biggest rival in China, raised at least $2 billion, exceeding its previously stated goal of netting $1.5 billion. The round gives the company $3.5 billion in cash reserves to spend on building out its taxi network and data services (New York Times).
  • WeWork, which supplies and manages co-working spaces, disclosed a $434 million funding round with the Securities and Exchange Commission, confirming what the Wall Street Journal wrote last month. The round reportedly sets the company’s value at $10 billion, double what it was worth less than a year ago (VentureBeat).
  • DigitalOcean, a cloud computing provider that competes with businesses like Amazon Web Services and Microsoft, raised $83 million. The investment was led by new investor Access Industries, with participation from Andreessen Horowitz (Bloomberg).
  • Whipclip, a software maker that allows users to legally edit and share copyrighted video clips, raised $40 million in a new round led by Eminence Capital, with participation from Raine Ventures and Institutional Venture Partners.
  • Canadian marketing software maker Influitive raised $30.5 million to finance an expansion into Asia and Europe. The round was led by Toronto-based Georgian Partners, alongside Atlas Venture, Docomo Capital, BDC Capital IT Venture Fund and Relay Ventures (Reuters).
  • The data technology startup Confluent, whose service helps to power digital content companies ranging from LinkedIn to Netflix, raised $24 million in a Series B round led by Index Ventures (Forbes).
  • Babbel, a language-learning software service based in Germany, raised $22 million in a Series C funding round. The company says it’s been profitable since 2011, and it claims to have 120,000 app downloads per day. The round was led by Scottish Equity Partners, and existing investors Reed Elsevier Ventures, Nokia Growth Partners (NGP), and VC Fonds Technology Berlin also participated (Business Insider).
  • Doppler Labs, which makes specialized audio technology, raised $17 million in Series B funding. Investors include The Chernin Group, Wildcat Capital Management and Acequia Capital. Previously disclosed investors in this round: Live Nation Entertainment, Universal Music Group and WME.
  • E-commerce software maker Salisfy raised a $16.6 million investment, led by Venrock. Matrix Partners and North Bridge and Michael Skok also contributed to the Series B round (Fortune).

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