Confluent raised $828 million through its IPO

Confluent raised $828 million through its IPO

Business : Data streaming platform company Confluent raised around $828 million through its IPO on Thursday. The Mountain View-based company priced its shares at $36 apiece, above its intended range of $29 to $33. The company saw its stock price pop 22 percent when it began trading Thursday, opening at $44.

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The growth, and ultimately the success, of the overall femtech industry correlates directly to gender equity and can be viewed as a bellwether for the pace of progress, writes Michael Proman, managing director at Scrum Ventures who heads the firm’s Sports Tech Tokyo program. He makes the connection between this view and recent developments as the Tokyo Olympics ramp up.

Funding for venture-backed companies in the cryptocurrency space has soared this year, with totals already above 2020 levels. Investors are optimistic that momentum will continue, even with challenges in building more widespread adoption and new regulatory pressures from governments around the world.

Visa has announced that it is acquiring Tink, a Stockholm-based open banking platform, for $1.8 billion Euros (US$2.15 billion). Meanwhile, venture firm Andreessen Horowitz (A16Z) said it has raised $2.2 billion for its Crypto Fund II, which will invest in crypto networks and the founders and teams building in the space.

After a sharp contraction in fintech venture investment at the beginning of 2020, the year ended as the third-highest on record by funding volume. The 2021 Global Fintech Rankings, released this week by findexable and Crunchbase, score the ecosystems of 264 cities in more than 80 countries.

A survey of Crunchbase data finds that venture-backed companies working on treatments and service offerings around addiction have raised well over $1 billion in funding over the years. More recently, we’re seeing a high amount of seed and early stage activity. Some of these upstart companies offer treatments for multiple categories of addiction, while others focus on one area, such as alcohol or opioids. Still, there are common themes among companies in the space getting venture funding.

Soure : Crunchbase