Tag: Startups

Uber faces $5 million suit from San Francisco’s oldest cab company

Flywheel claims that since UberX came into effect, taxi business in the city has dropped by 65 percent.

Another party is suing Uber over the ride-hailing service’s business practices. This time it’s San Francisco’s Flywheel, the taxi company formerly known as DeSoto Cab, also known as SF’s oldest taxi company. To the tune of a $5 million-plus federal suit, Flywheel alleges that since UberX came to be in 2012, the city’s taxi industry has lost 65 percent of its riders and 30 percent of its rivers, according to SF Gate.

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Google buys Eyefluence eye-tracking startup

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Google want to know everywhere that you’re looking.

Today, Eyefluence announced that it has been acquired by Google. The eye-tracking interface startup founded in 2013 had raised $21.6M in funding from investors including Intel Capital, Jazz Venture Partners, Motorola Solutions Venture Capital and NHN Investment. Terms of the deal were not disclosed.

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Cloud-based HR management platform HeavenHR closes €6M Series A

HeavenHR, a cloud-based HR management platform for small and medium enterprises (SMEs), has closed €6 million in Series A funding. Leading the round in the Berlin-based startup are Target Global, and Open Ocean Capital.

HeavenHR, which is just 10 months old, says the new financing will be used to continue building out the product and to accelerate growth. The company is currently active in Germany, Austria, France and Switzerland,

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Goldman Sachs leads $10M investment in Brazilian trucking startup CargoX

CargoX, a Brazilian startup that has been described as “Uber for trucks,” is announcing that it has raised $10 million in Series B funding.

The analogy is kind of irresistible, since Uber co-founder Oscar Salazary is one of CargoX’s investors — he’s certainly seen his share of “Uber for X” pitches, but he told me he sees a big opportunity here due to the fragmentation in the Brazilian trucking market.

“They don’t have the tools to talk to each other,” Salazar said. “There’s a huge information asymmetry playing an important role there. If you show me a market with information asymmetry, I’m going to show you a $1 billion opportunity.”

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