To get a roundup of TechCrunch's biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Today, we bring you the latest on Elizabeth Holmes and her prison sentence, Wefox keeping its valuation and Google's in-app billing policy in India. This is your Daily Crunch for Wednesday. — Christine Well, Elizabeth Holmes tried what she could, but after attempting to delay and appeal her 11-year sentence, "a panel of Ninth Circuit judges ruled that Holmes' legal team has not raised enough of a 'substantial question' to keep her out of prison." Only, that's not all. Here’s why “Time’s up for Elizabeth Holmes.” German insurtech Wefox secured $55 million in new funding from existing investors, but that's not the impressive news: The company managed to maintain the same valuation of $4.5 billion. Find out how. Jia, a blockchain-based fintech startup, banked $4.3 million in seed funding and an additional $1 million commitment for on-chain liquidity. The one-year-old company provides loans of up to $5,000 to micro and small businesses in emerging markets. Read more on how Jia plans to deploy the capital. Healthy vibe: Singapore's Ora has some fresh capital to support its vertically integrated approach to telehealth. Expansion plans: Tiger Global, Sawari Ventures and Raba co-led a round of $8.25 million into Axis to launch its digital payments platform for Egyptian SMEs into the North African market. That's hot: Insurtech bolttech is now valued at $1.6 billion after getting $196 million from investors like MetLife. Young European startups, listen up: Finnish VC firm Lifeline Ventures now has a $163 million fund for early-stage startups. Everything's better with a friend: Two cloud security companies, Eagle Eye Networks and Brivo, did a joint round where they raised $192 million. The pair of U.S. companies are majority owned by the same individual, security entrepreneur Dean Drako. |
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