Kobalt, Smule raise big rounds for music tech
Investors like what they hear when it comes to music tech, with two new big rounds for the space. Kobalt, which operates a platform for collecting music royalties, raised $75 million in a funding round that values the company at $775 million, TechCrunch reports. Meanwhile Smule, the social media music app developer, has raised $54 million in a new funding round led by Tencent at a $604 million valuation, according to a Reuters report.
Garena raises $550M, rebrands as Sea
Singapore-based Garena, the fast-growing e-commerce and online games company, has rebranded as Sea and raised $550 million in new funding. The company is also reportedly preparing for a U.S. IPO.
Ed-tech gets a boost
After several years of sharp increases, funding for U.S. education and ed-tech companies slowed last year amid a broader retrenchment in the VC space. Lately, however, ed-tech is generating renewed traction with some large rounds and closely watched early stage deals, according to a Crunchbase News analysis.
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