Results for: Funding

Dublin-founded startup Tines has raised $50 million in funding to expand its automation platform for infrastructure, engineering, and product applications. The investment, co-led by existing investors Accel and Felicis, follows two previous extensions to Tines’ Series B round, bringing the total funding raised to $146.2 million. Tines’ platform addresses the need for workflow automation tools to manage the increasing number of security and IT services used by enterprises. Despite competition from larger players like Splunk, Palo Alto Networks, ServiceNow, and Microsoft, Tines’ focused and context-aware approach has earned high customer satisfaction.

Supporters of the Theodore Roosevelt Presidential Library in North Dakota are celebrating the passage of new federal legislation that will provide $50 million to aid in the library’s construction and showcase artifacts of the former president’s time in the state. The Interior Department grant will primarily fund the creation of museum spaces within the facility. The bill also directs federal agencies to collaborate with library organizers to display Roosevelt-related items. The library project has received $240 million in private donations and is aiming for a grand opening on the United States’ 250th anniversary of independence in 2026.

Danaher Corporation, a leading life sciences company, reported strong financial results for the first quarter of 2024, surpassing analyst estimates and indicating a recovery in the biotech industry. Revenue reached $5.8 billion, a 4% organic decline year-over-year but above expectations of $5.62 billion. Adjusted earnings per share (EPS) came in at $1.92, a 6.3% annual decrease but ahead of consensus estimates of $1.71 per share. Key operating segments all delivered better-than-expected results, including biotechnology, life sciences, and diagnostics.

Ather Energy is in talks to raise between $75 million and $90 million in primary funding from existing investors and is reaching out to potential new investors. Flipkart co-founder Sachin Bansal has sold a significant portion of his stake in the company to Zerodha co-founder Nikhil Kamath. Kamath has expressed his belief in the company and its products and plans to have a significant exposure to Ather for the next decade.

Saudi Arabia is facing difficulties in funding its $500 billion Neom megaproject, which includes the ‘The Line’ city. Neom officials have invited potential investors to visit the futuristic city, and have visited China and Hong Kong in search of new investment. Despite these efforts, financial constraints have forced the project to be scaled back significantly. The project aims to raise $1.3 billion through bond issuance and has held meetings with investors in major cities around the world.

An investigation by the UN agency for Palestinian refugees (UNRWA) has found no evidence to support Israeli claims that hundreds of staff members are affiliated with terrorist organizations. This could lead some donor nations to reconsider funding freezes that were imposed after Israel accused 12 UNRWA staff members of participating in Hamas-led attacks in Gaza. The review, led by former French foreign minister Catherine Colonna, found that Israel had not provided any supporting evidence for its claims and had not raised any concerns with UNRWA based on staff lists since 2011. Israeli Foreign Ministry spokesperson Oren Marmorstein criticized the review, saying it ignored the severity of the problem and offered cosmetic solutions. However, UNRWA head Philippe Lazzarini said the agency was developing an action plan to take forward the recommendations from the review.

An independent review of the neutrality of the United Nations Relief and Works Agency for Palestine Refugees (UNRWA) found that Israel never expressed concerns about anyone on the staff lists it has received annually since 2011. This contradicts Israel’s allegations that 12 employees participated in Hamas attacks. The review, led by former French Foreign Minister Catherine Colonna, cited serious gaps in UNRWA’s implementation of neutrality principles, including staff expressing political views and textbooks with “problematic” content. Despite making 50 recommendations, Israel’s Foreign Ministry called the report insufficient and urged donor countries to withhold funding. UNRWA’s Commissioner-General, Philippe Lazzarini, welcomed the report and called on Israel to “reconsider its position and fully cooperate” with the agency.

An independent review commissioned by the UN has found no evidence to support Israel’s claims that UN Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) staffers aided Hamas’ October 7 attack on Israel. Israel had alleged that UNRWA employees participated in the attack, provided intelligence and logistical support, and allowed Hamas to use agency facilities. However, the review found no evidence to substantiate these claims. Despite the allegations being unsubstantiated, they have resulted in reduced funding for UNRWA and a freeze on US support until next March.

Rippling, a workforce management software company, has secured $200 million in a funding round led by Coatue and existing investors. The round includes a $590 million tender offer, with $200 million available for employees and $390 million for seed and other investors. Rippling’s founder, Parker Conrad, emphasizes the importance of in-office collaboration and discusses the company’s broad product suite, which includes HR, payroll, IT, security, and spend management. Despite the crowded workforce management software market, Conrad believes Rippling’s approach of building a comprehensive product suite is a key differentiator.