Kateeva raises $88M for flexible display technology
Kateeva, a developer of technology for making flat panel displays, has closed a Series E round of $88 million. Backers include new investors BOE, Cybernaut Venture, GP Capital Shanghai, Redview Capital, and TCL Capital, all located in China. Silicon Valley-based Kateeva develops equipment to mass-produce displays that can be bent, rolled or folded.
Eduardo Saverin, of Facebook fame, raises $144M for B Capital
B Capital Group, a venture capital firm launched by Edwardo Saverin, the Facebook co-founder, and Raj Ganguly, formerly of Bain Capital, has raised $144 million, according to a securities filing. In his LinkedIn profile, Ganguly says the firm, which has offices in Los Angeles, San Francisco, and Singapore, is “building a platform to connect emerging technology startups with global market leading corporations.”
VCs describe flaws in due diligence process
A feverish funding pace has left investors less time than ever to evaluate startups, and that’s contributing to some high-profile bad calls. Probably the biggest error VCs make, a TechCrunch article concludes, is relying on their peers’ reputations as a form of due diligence. Troubled companies like Theranos and uBeam, which started with top tier investors, are cases in point.
Houzz, Supercell among winners in PlayStore awards
Google capped off its annual I/O conference by playing favorites with its app developers. In the first-ever Google Play Awards competition, Houzz won the prize for best app and Supercell’s Clash Royale for best game. The standout startup award, meanwhile, went to airfare prediction app Hopper. Full list of winners here.
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