09/17/2020

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Friday Fundings: SpaceX, Omio, and Keeper Security



SpaceX Raises $1.9 Billion in New Funding

SpaceX, Elon Musk’s space exploration company, announced that it secured another $1.9 billion in funding. The company had several historic successes in recent weeks. Its spacecraft, Dragon 2, took two astronauts to the International Space Station and safely brought them back to Earth after a two month voyage. This marked the first time a private company launched a spaceflight mission from the US.

Earlier this week, SpaceX launched 58 more of its Starlink satellites into orbit. This is part of the company’s project to build a network of low-orbit satellites which will beam broadband internet to Earth.

This most recent funding round brings SpaceX’s equity value to $46 billion, making it one of the most valuable venture-backed companies in the US. The company did not say who participated in the latest round, but past investors in SpaceX include NASA, Google’s parent company Alphabet (GOOGL), and Bank of America (BAC).

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Omio, a travel-booking platform based in Berlin, just secured $100 million in funding from investors, including Temasek, Kinnevik, and Goldman Sachs Asset Management. Omio provides users with ways to search for cheap train, bus, and plane tickets. It was formerly known as GoEuro, but changed its name since it now includes destinations outside of Europe in its offerings.

The travel industry has been battered by the COVID-19 pandemic, but Omio’s leadership is optimistic about its ability to bounce back—especially with this new round of funding. As Omio’s Founder and CEO Naren Shaam put it , “Travel is an eternal need and I have no doubt in the comeback of the industry.”

Keeper Security Raises $60 Million as Online Business Booms

Keeper Security, a Chicago-based cybersecurity company, just secured $60 million in its first equity raise. Keeper specializes in protecting companies from password-related data breaches.

Based on research by IBM, an average data breach at a publicly traded company costs $116 million. About 90% of these disasters are a result of human error. As more business moves online, a trend accelerated by the COVID-19 pandemic, cybersecurity is more important than ever.


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