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HMNC Brain Health lands $10.7m
HMNC Brain Health, a company which uses predictive diagnostics to improve psychiatry treatment, has raised $10.7m in fresh funding. The raise, which came in the form of convertible debt, comes ahead of an expected Series B round later this year. Brain Health's therapies lead to far shorter treatments and higher remission. "These funds will allow HMNC to advance our strategic agenda," said its CEO.
Khula raises $1.3m for its agritech plaform
South Africa startup Khula has announced a $1.3m seed round. Khula’s platform is made up of three products: Fresh Produce Marketplace, which allows farmers to sell produce directly to buyers; Inputs App, which helps farmers access approved services from suppliers; Funder Dashboard, which allows farmers to connect with investors. Founded in 2018, over 3,000 farmers and 100 suppliers have signed up.
Twitter teams up with news sites to tackle misinformation
Twitter is partnering with the Associated Press and Reuters to combat the spread of misinformation. During breaking news events, it will collaborate with the news services to add context to stories in real-time and faster label trustworthy sources. The aim is to help Twitter's own news curation team, and stop misinformation going viral. The AP and Reuters have a similar relationship with Facebook.
XpertHR acquires Gapsquare, a pioneer of gender pay disparity technology
Gapsquare, a UK startup that aims to address the economic gender gap with tech, has been acquired by XpertHR, a part of RELX for an undisclosed amount. Gapsquare has developed an analytics software that analyses and tracks pay disparity, pay equality and pay gap data to provide HR and Reward professionals with actionable insights. Vodafone, Condé Nast, and Serco are amongst the startup's clients.
China predicted to tackle gaming addiction after calling video games 'electronic drugs'
Shares in two of China's biggest online gaming firms, have slipped after a state media compared their products to "electronic drugs". The criticism has raised concerns that the online gaming industry will be the next one to be regulated by Beijing. "No industry, no sport, can be allowed to develop in a way that will destroy a generation," read the article published in Economic Information Daily.
Renault boosts EV push with long-term Vulcan Energy deal
Renault has struck up a five-year supply deal with Vulcan Energy Resources. Vulcan will deliver 6,000 to 17,000 tonnes of lithium annually to the carmaker as it looks to accelerate its electric vehicle production. Vulcan is known for its emission-free geothermal lithium production process. Renault is aiming for 90% of its models to be fully electric by 2030, and to be carbon neutral by 2050.
Indian edtech Unacademy valued at $3.44bn after latest funding round
Indian online learning platform Unacademy has raised $440m in a new financing round, reaching a $3.44bn valuation. The round was led by Temasek, with participation from SoftBank Vision Fund 2, General Atlantic, Tiger Global and Deepinder Goyal. The online learning platform helps students prepare for competitive exams to get into college, as well as those who are pursuing graduate-level courses.
UK will be the first European country to launch spacecrafts from home soil
The UK has announced a new regulatory framework that will allow the country to become the first European country to launch satellites and spacecraft from home soil. The first UK space flight is expected to launch next year, after the new rules come into force. The Department of Transport said the space industry has "a potential £4bn of market opportunities over the next decade".
Biofourmis' heart failure digital therapy receives FDA breakthrough device designation
Digital therapeutics company Biofourmis's BiovitalsHF, a platform designed for heart failure medication monitoring, received an FDA breakthrough device designation. BiovitalsHF helps patients adjust the dosage of their medications accurately using a wearble device. Currently, less than 1% of heart failure patients receive the optimal dose of their medication on a regular basis.
Exo raises $200m to build affordable ultrasound devices
California-based startup Exo has raised $220m in its latest Series C financing aimed at commercializing its affordable handheld ultrasound device and point-of-care workflow platform. The round was led by RA Capital Management. While the average cost of an ultrasound machine is between $40,000 and several million depending on the tech's precision, Exo’s device will be around the cost of a laptop.
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