Good morning! Below are the top tech startups news for today, Wednesday, February 5, 2020.
Amazon’s AWS to invest $236 million in Brazil to strengthen cloud infrastructure. Amazon Web Services (AWS), the cloud computing unit of Amazon announced today that it will invest $236.18 million (1 billion reais) in the Brazilian state of Sao Paulo over the next two years, the state government said on Wednesday, to strengthen its infrastructure in South America. The announcement comes as the company also strives to expand its in online retailing in the increasingly competitive Brazilian market, where well-established local players pose a challenge to international rivals. “With this major investment by AWS, Amazon’s cloud computing business, we will create more jobs, technology and also opportunities for startups,” governor João Doria said in the statement.
Cloud storage startup NGD Systems nabs $20M in Series C funding to bring intelligence to storage using AI and machine learning. NGD Systems, an Irvine, California-based cloud storage startup, has raised $20 million in series C funding to support and accelerate the production and deployment of the world’s first NVMe Computational Storage Drive that continues to enable artificial intelligence and machine learning within the device where the data resides. The round, which brings total funding raised to date to $45 million, was led by MIG Capital, with participation from Western Digital Capital Global, Ltd, the strategic investment fund of Western Digital Corp., and existing investors, including Orange Digital Ventures, Partech, BGV and Plug-N-Play. Founded in June, 2013, NGD Systems is focused on the design and manufacture of a new generation of Intelligent SSD Solutions.
LinkedIn CEO Jeff Weiner is stepping down. Jeff Weiner, the CEO of LinkedIn, is stepping down from his position effective June 1. The company made the announcement Wednesday. Head of product Ryan Roslansky will take over as CEO. “Ryan will report directly to Satya (Nadella) and serve as a member of his senior leadership team,” the company added. Weiner, who has been the CEO since 2008, would become the platform’s executive chairman. Microsoft bought the LinkedIn in March 2016 for $26.2 billion to grow the professional networking site and integrate it with Microsoft’s enterprise software.
Lumos Diagnostics raises $15M Series A funding to help healthcare professionals more accurately diagnose and manage diseases. Lumos Diagnostics, an healthtech startup that helps develop and manufacture custom rapid Point-of-Care diagnostic solutions, has secured $15 million in Series A funding to support the international commercial expansion of the FebriDx rapid point-of-care (POC) test, the FebriDx U.S. FDA pivotal clinical trial, and additional development and manufacturing resources for the company’s expanding full-service POC business. The round was led by Planet Innovation, an Australia-based healthtech innovation and commercialization company. Lumos Diagnostics is a spinout from Planet Innovation, which was merged with RPS Diagnostics in May 2019 to create a diverse healthcare company that combines the FebriDx test and commercial experience with a novel and proprietary digital reader platform.
Rad Power Bikes Closes $25 Million in Funding to Grow Direct to Consumer Electric Bike Business. Rad Power Bikes, a Seattle-based ebike brand, closed $25 million in funding led by Vulcan Capital and Durable Capital Partners LP. The funding will support new brick and mortar retail locations around the world, along with expansion of the company’s mobile service and white glove delivery offerings. Founded in 2007, the company has 200 employees spread across offices in Seattle, Wash., Vancouver, British Columbia, and Utrecht, the Netherlands. Rad Power Bikes is the largest electric bike brand in North America, with more than 100,000 owners across 30 countries and a full lineup of ebikes packed with power, comfort, and utility for both personal and commercial use.