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A new $124 million for Brazil’s Movile proves that investors still see promise in Latin American tech

Brazil’s macroeconomic picture may be gloomy, but technology investors still see hope in the nation’s burgeoning technology sector — and a recent $124 million financing for the mobile conglomerate Movile is the latest proof that that the pace of investment isn’t slowing down. Brazil was already the hottest spot for technology investment throughout Latin America — with Sao Paulo drawing in the majority of the record-breaking $1 billion in financing that the region’s startups attracted in 2017. And with this latest funding for Movile, led by Naspers, that trend looks likely to continue. Indeed, Naspers investments in Movile (supplemented by co-investors like Innova, which participated in the most recent round) have been one of the driving forces sustaining the Brazilian startup community. In...

Trov launches its on-demand personal property insurance services in the U.S.

Trov, the on-demand personal property insurance service, is launching in the U.S., the company announced today. Trov’s first port of call in the U.S. will be Arizona. The service is already available to customers in the UK and Australia who have signed up to insure items one million times since the company first launched its business. A spokesperson for the company declined to comment on how many individuals have signed up for the service or how much they’ve spent on the policies. Munich Re is serving as Trov’s underwriting partner in the U.S. (and the rest of the world) and the company said it would look to roll out across the rest of the country over the course of the year. As part of the rollout, Trov is introducing a new service that will cut a customer’s premium payment as the object ...

China’s SenseTime, the world’s highest-valued AI startup, closes $620M follow-on round

SenseTime, the world’s highest-valued AI company with a valuation of over $4.5 billion, is back in the money again. The company raised $600 million in an Alibaba-led financing round announced last month, and now it has added a further $620 million to that with a “Series C+” round announced today. Alibaba led the previous deal, and this time around the investors include more traditional names such as Fidelity International, Hopu Capital, Silver Lake and Tiger Global. Qualcomm, which previously backed the firm, was also in this round, SenseTime confirmed. The new money takes SenseTime to $1.6 billion from investors to date. The valuation has remained “over” $4.5 billion across both of these recent rounds, according to the company. It was previously valued at $1.5 billion when it raised a $41...

Nike debuts its most ambitious SNKRS stash drop for the Championship Tour featuring Kendrick Lamar and SZA

On a mild Thursday night at the Los Angeles Forum, Nike’s public relations team and a group of journalists from some of the country’s leading lifestyle, tech, and general interest websites gathered to see the debut of Nike’s most ambitious SNKRS stash drop. Launched in conjunction with Kendrick Lamar’s Top Dawg Entertainment, the collaboration between Nike and Lamar marks a series of firsts for the world’s largest sports and lifestyle brand. The combined effort is the first capsule collection that Nike has done with a musician. It’s also the first time that anyone currently working at the company can remember the apparel company signing on with a musician for select tour merchandise, and the debut of the stash drop through the SNKRS app was the largest the company’s tech had tried to tackl...