Qure.ai, a startup that developed scanning technology that uses artificial intelligence to diagnose head and chest abnormalities, raised $16 million in its most recent funding round. Investors in the round included Sequoia India and MassMutual Ventures Southeast Asia.
FunCraft, a startup mobile game studio that launched last year, raised $1.8 million to begin game development. With the new capital it plans to create "casual forever" games that are easy to play but engaging enough to become part of players' daily lives.
Jumo, a South African fintech startup that offers a variety of financial and insurance products in emerging markets, raised $55 million in its most recent funding round. With the capital it plans to expand into new markets and roll out new products.
Tractable, a London-based startup that uses artificial intelligence and computer vision to accelerate insurance claims processing, raised $25 million in its most recent funding round. With the new money it intends to expand within North America, Europe and parts of Asia.
Unqork, a startup creating an app development platform tailored to the needs of financial services and insurance companies, raised $131 million in an extended Series B funding round led by CapitalG, Alphabet's investment fund. The new capital will fund continued sales and marketing efforts and expansion of its engineering team.
Japan's Takeda Pharmaceutical exercised the option it had negotiated in 2017 to buy biotech startup PvP Biologics. Takeda paid an undisclosed up-front fee and committed to making additional payments based on drug development milestones which could bring the total size of the deal to $330 million.
K Health, a startup whose app helps medical personnel diagnose illnesses and suggests treatment options, raised $48 million in a funding round that included investments from medical insurance company Anthem and the investment arm of Comcast, Comcast Ventures. With the new capital the company aims to broaden the range of illnesses the app can diagnose.
Research by the Federal Reserve Bank of New York finds that prime mortgage borrowers were a driving force in the housing bubble of the early 2000s in particular parts of the country. This runs counter to the prevailing theory that subprime mortgages and mortgage fraud were major culprits, finding instead that a deluge of prime buyers in some rising markets inflated the bubble.
The downturn in China's economy related to coronavirus is being felt across the world and is hurting the supply chains for many businesses. This story highlights some of the companies struggling to work through issues, including a watch-maker in Hong Kong, an art and furniture maker in Mexico and a mining equipment manufacturer in Japan.
Major banks in the U.A.E. see technology and digitization as key factors when it comes to winning and keeping customers. "High IT spending may spur a consolidation of smaller banks as larger peers revamp legacy systems, merge and emerge stronger," according to Bloomberg.