Siebert Lutheran Basis makes use of auction-style funding mannequin to match donors with the appropriate causes

Paul Miles, President of the We Raise Foundation; Avana Kelly, an 8th grade graduate of St. Marcus; Donte Edwards, an 8th class graduate of St. Marcus; Ronna Kelly, a St. Marcus Scholar; and Charlotte John-Gomez, President of the Siebert Lutheran Foundation.

The Milwaukee based Siebert Lutheran Foundation has developed a new auction-style funding model to connect local philanthropists with causes they care about.

Recently, the foundation, which administers the legacy of Milwaukee Electric Tool Co. founder Albert F. Siebert, accepted donations for the first time. Until three years ago, all funds of the foundation came from Siebert, who died in 1960.

Operating as an independent foundation under a trust deed since 1976, it has provided approximately $135 million to support causes related to education, Lutheran service and leadership, and poverty alleviation. Albert Siebert did not set an expiry date for the foundation and the directors decided to make it permanent, which means it has been courting new funders in recent years.

“Our board said, ‘We have so much experience working in the Lutheran congregation, and we have this bird’s eye view of the really good work that Lutheran organizations are doing. Why not see if we can find other people who have similar passions and interests so we can do more?” said Charlotte John-Gómez, President of the Foundation.

As part of this effort, Siebert launched a new strategy called Collaborators’ Event in 2020, aimed at connecting philanthropists with like-minded organizations.

Modeled on a similar event developed by the Arizona Community Foundation of Flagstaff, the event allows donors to screen organizations and projects in need of funding before participating in an auction-style event that brings them together. A few years ago, Siebert employees flew to Flagstaff to see the financing model in action.

“There were about 12 organizations (including individual donors, families and other foundations) sitting at this table, and they had a big table on the wall … and they just walked around the room and said, ‘OK, who wants to fund this organization? ‘ And the donors said loudly, ‘I’m going to fund this for $100,000.’ After two hours, they had raised over $2 million. And we were just blown away by this type of model,” said John-Gómez.

Siebert hosted his first Collaborators’ Event in 2020, practically because of the pandemic, and raised over $130,000. It recently hosted its second annual event in a hybrid format, raising over $172,000, attended by 27 donors.

In both years, the foundation has matched those dollars with $100,000 of its own.

“It’s a way of bringing people together with similar visions. They have resources and they want to share their resources with the community, but they may not know about the different organizations, especially the smaller organizations that are doing such a good job,” John-Gómez said. “It was a way of introducing them to these organizations.”

All of the Board members of the foundation — including local executives Thomas Kammerait von Briesen, retired UWM Vice Chancellor Joan Prince and Cathy Jacobsen, CEO of Froedtert Heath — attended the event, John-Gómez said.

The event has also attracted entire families who have attended virtually from across the country.

“We had a family that was scattered across the country, but they were still able to participate via Zoom and chat with each other and make decisions as a family about where to put their philanthropic dollars. It was a really good way to teach the next generation what it means to give back to the community,” she said.

Scarce funding, unchanged fashion behind Mayawati’s conspicuous absence

The BSP boss says she “doesn’t want to change” the way she works and her party’s election campaign.

What is stopping Bahujan Samaj Party (BSP) President Mayawati from resigning and holding public rallies like other parties in Uttar Pradesh that are about to vote? This question has fascinated her supporters, observers and political rivals alike. The answer apparently lies in the financial constraints of the BSP and their reluctance to change their way of working and their style, as Mayawati himself explained to her constituents in a speech on Saturday.

Ms. Mayawati, a four-time former UP Prime Minister, said the BSP does not believe in imitating other parties but is working carefully and keeping an eye on the financial situation of its party members. If she mimicked her opponents and held many rallies before the election, her supporters could not bear the financial burden of the rallies during the election, she said.

The BSP is a party of the “poor and oppressed,” Mayawati said, emphasizing that other parties receive a lot of money from governments as well as capitalists and industrialists.

“Unlike other parties, our party is not a party of capitalists and dhannaseths (big businessmen). Our party is not just a political party, it is also a movement. And even if we imitate the others, the party’s lack of money could hurt the party during the election, ”Mayawati said.

The BSP leader also said that she “does not want to change” the way she works and the modalities of her party’s electoral address and campaign. Her rivals can make fun of her and the media can continue to write “Ulta Seedha” against her, she said.

Ms. Mayawati stood out for her absence from the 2022 election campaign, even when her main rivals, Prime Minister Yogi Adityanath, Prime Minister Narendra Modi and Union Interior Minister Amit Shah from the Bharatiya Janata Party; Samajwadi Party President, Akhilesh Yadav; and even Congress Secretary-General Priyanka Gandhi Vadra holds regular rallies, road shows, and public events to advance their respective narratives.

So far, Ms. Mayawati has dispatched her party secretary general and brahmin to Satish Chandra Mishra to tour the state and hold public rallies with the message of electing her as the UP’s CM for the fifth time.

Ms. Mayawati also shot back at Mr. Shah for being annoyed by her absence from the campaign, saying “the money of the poor with the treasury” is keeping the BJP leaders warm.

“Thand mein garmi chadi hui hain,” Ms. Mayawati said in what appeared to be a direct response to Mr. Shah, who recently said at a rally that she still needs to shake off the cold.

“Behenji ki toh abhi thand hi nahi udi hain. Woh bhaybhit grove. Behenji chunaav aa gaya grove, thoda bahut bahar nikal aiye. Baad mein ye na kehna ki maine prachar nahi kiya tha (Behenji has to shake off the cold. She’s afraid. (Sister, the choice is there, now step back a little. Don’t say later that you didn’t even campaign) ” said Mr Shah.

GAC, Nio-backed EV start-up Hycan claims one other funding spherical coming

Yang Ying, CEO of Hycan, speaks with Evelyn Cheng of CNBC during the 2021 East Tech West Conference in Nansha District in Guangzhou, China.

GUANGZHOU, China – Chinese electric car startup Hycan hasn’t shipped many vehicles yet, but claims it’s about to start a major fundraiser as investors pour more money into a hot sector.

The news that more capital is looking to other players in the Chinese electric car market comes as more established startups like Nio and Xpeng delivered more than 10,000 cars each in November alone. Unofficial figures – which Hycan refused to confirm – point to sales of a few hundred vehicles in the first ten months of this year.

“We raised more than 2 billion yuan ($ 312.5 million) in January, which is recognition from our big investors. Next, the total new round of funding will be no less than that number,” said Yang Ying, CEO of Hycan in Mandarin on December 1st at CNBC’s annual East Tech West Conference in the Nansha District of Guangzhou, China.

Yang did not indicate when the funding round would be completed. He claimed that about 20 funds and investment institutions around the world are interested in Hycan.

The start-up was founded in 2018 under the name GAC-Nio and refers to its investors: state-owned automakers GAC and the US-listed electric car manufacturer Nio.

GAC and a company called Pearl River Investment invested 2.4 billion yuan in the start-up in January, according to the electric car maker. Yang became CEO that month after holding various leadership roles at GAC. In May, the start-up rebranded under the name Hycan.

The company launched its second model in October, an electric SUV called the Z03, priced from 132,800 yuan to 168,800 yuan. That’s a lower price range than models from Nio and Tesla.

Yang said Hycan received more than 30,000 orders. He expects the company’s total deliveries for this year to be at least ten times those of the previous year. It wasn’t clear how many vehicles Hycan was delivering in 2020 when the only model on the market was which was the 007.

Hycan has focused its strategy on attracting young consumers who were mainly born after 1995. The start-up has played its partnership with the Chinese esports team EDG, which defeated a South Korean team in a highly regarded championship in November.

Yang said the company plans to partner with two or three international fashion brands next year, although he has yet to reveal their names.

Read more about electric vehicles from CNBC Pro

Debt-Busting Tech Startup Brilliant Cash Pronounces Public Launch, With $31 Million in Funding

SAN FRANCISCO – () –Light money, an artificial intelligence (AI) financial platform based on its unique MoneyScience ™ algorithm, has secured $ 31 million in funding from Sequoia Capital India, Falcon Edge Capital and Hummingbird Ventures, along with investments from prominent angel investors like Ram Shriram (Alphabet board member and founder of Sherpalo Ventures).

Bright Money is helping Americans take control of their debts and start building real wealth through bespoke AI-powered financial planning. With its algorithm, Bright Money does all of the data processing math and financial planning for each user. Bright Money uses thousands of data points from a user’s financial life to build the best possible path to financial well-being while fitting into the user’s daily money activities. It works to outsmart banks and lending companies so that any Bright Money user can always get the best bang for their buck.

The Bright Money platform is designed for real financial needs that matter most to Americans, helping them move forward and make their dreams come true. It focuses on getting people out of debt, improving their credit scores, and increasing savings to build real wealth. On average, users pay more than $ 2,200 in credit card debt each year by using the platform, saving $ 750 in fees and interest fees, and adding 30-100 points to their creditworthiness.

The platform primarily helps hard-working, middle-income Americans – those between the ages of 25 and 40 who make $ 50,000 to $ 100,000 a year. These Americans have traditionally been underserved by banks and even by the youngest “neo banks”. Unlike existing services and products, Bright Money doesn’t just offer users more credit or a unified product. Bright Money offers highly customized planning that reacts to and adapts to each user’s changing finances while enabling intelligent automated payments that reduce debt and build wealth faster than most Americans can alone.

Bright Money was co-founded by Avi Patchava, an Oxford University graduate data science expert with a decade of experience using algorithms to solve consumer problems. and Petko Plachkov, a financial services veteran and serial entrepreneur who has successfully developed and scaled financial products for millennials for the past decade.

“When we started building Bright in 2019, we wanted to bring a unique system based on data science to help Americans organize their finances and fight their debts,” says Patchava. “The Series A funding we have secured will allow us to take our platform to the next level by giving users a transformative journey with their money to truly improve their financial future. We exist to deliver real results to people – not just another financial product. This is only the tip of the iceberg when it comes to harnessing the power of data science to fuel personal finances. ”

Bright Money has assembled a team of more than 100 money scientists: seasoned data scientists and AI engineers from leading research centers around the world with experience in finance, consumer technology and adtech. They spent two years building the MoneyScienceTM platform (a system of 34 different AI algorithms) from the ground up to provide unique financial planning and insights to consumers. Bright Money’s technology enables hyper-personalized and bespoke financial plans normally only offered to the wealthy through dedicated financial advisors.

“We designed Bright to meet the financial planning needs of middle-class Americans with no hidden costs or fees,” said Plachkov. “Bright is only $ 15 a month – affordable for everyone. How to get Bright’s algorithm for your finances for less than the price of Netflix. Most Americans make a decent living, but they’re poorly served by traditional financial firms and fintechs that offer one-size-fits-all solutions. With more than 30,000 people getting results with the Bright platform in beta, we know we are building a platform for the future of people’s money. ”

“Bright has invested in building a unique technology-enabled solution that will help consumers manage their money and reduce debt,” says Shriram. “The consumer debt and savings business is ripe for innovation to bring real value and simplicity to users looking to improve their financial lives.”

For $ 15 a month, users have access to all of the great Bright Money platform tools, educational resources – The School of MoneyScience ™ – and 24/7 access to customer support via phone, email and chat. Based in San Francisco with offices in London and Bangalore, Bright Money currently has 150 members on the data science and customer service team and is compatible with 14,000 banks in the US. For more information on Bright Money, see

About light money

Light money is an artificial intelligence (AI) financial platform powered by its unique MoneyScience ™ algorithm designed to help Americans take control of their debt and start building real wealth. Bright Money’s technology enables all users to access highly customized financial plans – usually only available from financial planners charging thousands of dollars – to help settle credit card debt, build their creditworthiness, and start saving. Bright Money delivers results to its users, with the average customer shedding $ 440 in debt and saving $ 750 a year in interest in the first three months. Bright Money’s patented platform has helped over 30,000 Americans to date and managed hundreds of millions of debts. Bright Money was founded in 2019 by Avi Patchava, a leader in the AI ​​industry. and Petko Plachkov, a serial financial services entrepreneur; and has teams in San Francisco, London and India.

MoneyScienceTM, Bright Money’s patented AI platform, uses thousands of data points on each consumer’s financial life and 34 algorithms to create highly customized financial plans for users. The MoneyScienceTM system was developed from the ground up over two years by leading AI and machine learning experts, combining basic AI technologies from other industries (adtech, entertainment, robotics and industrial automation) with best practices in personal finance. The result is simple, understandable, and impactful plans that are uniquely tailored to each individual – hyper-personalized for each user. Currently, such detailed planning is only available from professional financial planners, who charge thousands of dollars for such a service.

Kalamazoo physician to climb Mt. Kilimanjaro to boost consciousness, cash for funding youngsters’s training

KALAMAZOO, Michigan – A West Michigan doctor and family climb mountains to raise funds for two nonprofits that focus on promoting education.

In just over two weeks, Kalamazoo doctor Ash Goel and three of his family members will be traveling to Tanzania to climb one of the highest mountains in the world.

During the climb, the group hopes to raise funds to advance education in both the Kalamazoo and Battle Creek regions and Tanzania.

“We want to climb the highest free-standing mountain in the world. It’s Kilimanjaro, ”said Dr. Ash Goel, United Way Board Member for the Kalamazoo & Battle Creek Area.

Mount Kilamanjaro in Tanzania is 6,340 feet high, and Dr. Goel said he started planning the climb over two years ago.

“The pandemic happened. It should be last year, but this year when I turned 50 I hope to do exactly what I thought of two years ago, but then I wanted it to be.” more about others than about me, “said Dr. Goel.

As a board member of the United Way of the Kalamazoo and Battle Creek Area, he also wanted to use the rise to raise money and awareness for his organization together with another group called Focus on Tanzanian Communities.

“In Tanzania there are girls’ schools that do not even have the basic equipment, and in our region there are several families whose children have not been able to go to school in recent years or have no computer or access to the Internet, or sometimes even access to food, “said Dr. Goel.

“Our educational focus is really on kindergarten readiness, quality childcare, third-grade reading skills to ultimately support better graduation rates for high school students in our county and region,” said United Way of the Kalamazoo & Battle Creek Area VP for Effect and commitment Alyssa Stewart.

In addition to Dr. Goel will be his 16 year old daughter, 22 year old niece and 25 year old nephew.

The group is expected to depart on August 15 and begin the climb in the evening of August 17 or the morning of August 18.

“It’s going to be about 128 miles from base because we’re going to have to make a winding trip to the top. It’s about nine days of ascent and two days of descent,” said Dr. Goel.

Dr. Goel said he hopes they can reach the top of Kilimanjaro on August 26 as they will make about seven stops on the way up.

The group will too document their trip on their website as well as several social media platforms such as Facebook, Instagram and Tick ​​tock.

You can also Click here to donate to support their educational path.

Following the cash: Florida is funding crimson tide cleanup

After a day he said he said between the mayor of St. Petersburg and the governor’s office we found out what was really going on.

ST. PETERSBURG, Florida – More than once in the past few days, the Mayor of St. Petersburg has said to wash politics out of the red tide crisis in his city.

Thursday he tweeted“Now nearly 800 tons. We will ignore the governor’s policies and continue to work with other state and county officials to get these fish out of the water.”

Almost 800 tons now.

We will ignore politics from the governor’s office and continue to work with other state and district officials to get these fish out of the water.

– Rick Kriseman (@Kriseman) July 15, 2021

Almost 24 hours earlier, Kriseman had asked Governor Ron DeSantis to send resources to help with the cleanup. He specifically asked for more shrimp boats to collect the rotting marine life.

CONNECTED: St. Pete Mayor Rick Kriseman urges Governor DeSantis to obtain resources for the red tide

Kriseman said he wasn’t sure how much longer the city and city contractors could spend cleaning up. He said the city needed help.

“We ask the governor, Pinellas County, St. Petersburg, we need your help.”

But on Wednesday afternoon, the governor’s office painted a very different picture.

DeSantis assistant communications director Jared Williams emailed 10 Tampa Bay saying Mayor Kriseman was “either unaware of what is actually going on in his own garden or he is deliberately lying and taking advantage of the red tide as an attempt to get cheap political points ”. . “

Just got the following reply from Jared Williams, Assistant Director of Communications for @GovRonDeSantis as answer to @Kriseman‘s plea for dealing with government funds #red tide.

– Liz Crawford WTSP (@LizCrawfordWTSP) July 14, 2021

Williams also sent a detailed description of everything the state has been doing to support the current red tide crisis in Tampa Bay. These claims included:

  • Florida Department of Environmental Protection is in the process of executing grant agreements for Counties Pinellas and Hillsborough
  • Pinellas receives $ 902,500 to help clean up the Red Tide
  • Florida Fish and Wildlife Conservation Commission officials participate in weekly Red Tide coordination calls and initiate a Red Tide response with the City of St. Petersburg.

Kriseman countered the governor’s office reaction, and said, “I don’t care how our town gets help. Whether the governor calls an emergency or his DEP does something … I just need more boats.”

10 Tampa Bay wanted to verify some of the claims made by politicians.

Pinellas County’s public works director, Kelli Hammer Levy, says the county is currently receiving $ 902,500 from the Florida DEP, but they don’t have it yet.

“Between June 11 and July 10, we spent approximately $ 902,500 between the county and the city to get refunded by then,” said Hammer Levy.

She said she was also in regular contact with the DEP to change the agreement and get more funding.

“In fact, I phoned DEP’s interim secretary, Shawn Hamilton, 15 minutes ago. He has confirmed that they will be providing the county with additional resources to aid in the cleanup,” said Hammer Levy.

Meanwhile, a spokesman for the city of St. Petersburg says it was left in the dark.

Benjamin Kirby, St. Petersburg City Communications Director, directed an exchange between a city lobbyist and an FWC employee at 10 Tampa Bay.

The lobbyist asks for help and says, I’m not sure what role FWC is playing in this, but could you alert your team? I am also alerting the governor’s office. Is DEP involved in such incidents?

The FWC representative replied on July 9th: Maybe you and I can contact the grassroots on Monday so I can pass on all of the information Gil shares today? I know DEP is involved in terms of water quality, but we are at the forefront when it comes to fish deaths. I will keep you up-to-date.

Kirby says this will be the last the city has heard from anyone with the state.

On Thursday, Williams said Governor DeSantis’s office had held several conversations with members of the St. Petersburg City Council, affected stakeholders and members of the region’s legislative delegation, but failed to provide specific names.

Williams 10 referred Tampa Bay to the DEP and FWC for details on who the DEP, FWC and the City of St. Petersburg will hold talks with.

Pinellas County’s Hammer Levy says she speaks to someone with FWC at least once a day, and during a meeting earlier this week, officials said this current bloom was unprecedented.

“The fact that this flower extends into Tampa Bay is really very unusual,” she said. The last time they saw anything like this was fifty years ago, when sewage was still being discharged into the bay.

CONNECTED: “Ignore politics”: Kriseman reacts to DeSantis during red tide

US sanctions Iran-based cash community funding Yemen’s Houthis | Battle Information

The U.S. Treasury Department on Thursday sanctioned members of a smuggling network that U.S. officials claim is helping to fund the Iranian Islamic Revolutionary Guard Corps and Iranian-affiliated Houthi fighters in Yemen.

Finance officials said the network, allegedly headed by Iran-based Houthi financier Sa’id al-Jamal, is channeling funds from the sale of Iranian oil through a complex network of intermediaries and exchange offices in several countries to the Houthis in Yemen.

“The financial support of this network enables the Houthis deplorable attacks threatening civil and critical infrastructure in Yemen and Saudi Arabia, “Andrea Gacki, director of the Treasury Department’s Office of Foreign Assets Control, said in a statement.

“These attacks undermine efforts to end the conflict and most tragically starve tens of millions of innocent civilians,” Gacki said.

The war that started in 2014 when Houthi fighters drove the Saudi Arabia-backed government from the capital, Sanaa, turned Yemen into the world’s biggest humanitarian crisis. According to the United Nations, more than 20 million people are in need of help and four million have been displaced from their homes. Tens of thousands of people have died.

US President Joe Biden has demanded an end on the proxy war in Yemen between Saudi Arabia and Iran and directed US officials to seek diplomatic solutions to the conflict.

“The United States is working to resolve the conflict in Yemen and to provide ongoing humanitarian aid to the Yemeni people,” said US Secretary of State Antony Blinken in a statement on Friday.

“It is time for the Houthis to accept a ceasefire and for all parties to resume political talks,” said Blinken.

In February, the US announced that it would cease “all American support for offensive operations in the war in Yemen, including relevant arms sales,” although Biden said he would continue to “help Saudi Arabia defend its sovereignty”.

Last week, a Attack with Houthi missiles killed 17, including a five-year-old girl, in the besieged Yemeni city of Marib.

Fighters loyal to the Saudi Arabia-backed government of Yemen stand in the northeastern province of Marib. of the country against the Iranian-backed Houthi rebels [Photo by STR/AFP]The new US sanctions are intended to deny al-Jamal and key business partners in Turkey, Greece and the United Arab Emirates access to the global financial system, the US Treasury Department announced on its website.

At the same time, the Biden government officials lifted sanctions against three Iranian government officials and two companies previously involved in the trade in Iranian oil products.

Oil prices fell briefly on the news Thursday, but a US official told Reuters that lifting the sanctions was “routine,” and a State Department spokesman said the move was unrelated to multilateral talks to revive the Iran nuclear deal from 2015 to do.

A sixth round of negotiations between Iran and the world powers over the revival of the 2015 nuclear deal is on resume next weekend, just a few days before the presidential elections in Iran, which are expected to take place on June 18 new leadership to power in Tehran.

On Tuesday, Blinken said that even if Iran returns to compliance with the nuclear agreement known as the Joint Comprehensive Plan of Action (JCPOA), “hundreds of sanctions will remain in place”.

West Texas Intermediate crude rose to more than $ 70 a barrel on Thursday, its highest level in more than two years, amid optimism about strong economic demand in the US, Reuters reported.

Among those identified as the target of the newly announced U.S. sanctions on Thursday was Abdi Nasir Ali Mahamud, a Turkey-based Houthi supporter who allegedly coordinated petrochemical smuggling for Aldoon General Trading’s network and related businesses.

Manoj Sabharwal, a maritime manager in the UAE, Hani Abd-al-Majid Muhammad As’ad, an accountant in Turkey, and Jami Ali Muhammad, a Somali businessman, were also named for sanctions.

Two Syrian men, Tlaib Ali Husayn Al-Ahmad al-Rawi, based in Turkey and Abdul Jalil Mallah, based in Greece, are said to have enabled the transfers to an exchange office in Yemen that is close to the Houthis.

“Cash Fest” to demystify funding choices for small enterprise house owners

MOBILE, Ala. (WKRG) – Mobile small business owners looking to boost their efforts have a chance at Money Fest. Often the biggest challenge for small business owners is financing. The Money Festival takes place this Thursday, a free, all-day symposium dedicated to demystifying money.

“Money is intimidating to anyone who nobody likes to talk about. We’re not going to go into your specific finances at this event, but it will help you know how to look at your finances and prepare for where you are going to go, ”said Jessica Wofford, program coordinator for the innovation portal. A common question among small business owners is how to get funding.

“Many are unsure of what type of funding is right for what they’re doing, so we wanted to spend a day educating the business community about the funding that is out there and what is appropriate for them,” said Wofford . Some startups are eager to move up to the next level.

“They’re funded initially by family members, friends, or founders. After that, they need to find a way to free up their assets and funding,” said Darrell Randle, vice president of small business development for the Chamber of Commerce for Mobile. The event is a partnership between Mobile’s innovation portal, Fairhope Hatch, and Mobile Area’s Chamber of Commerce – an opportunity to learn about next steps. While growth is on the agenda, there is a visitor limit and space is limited. For more information and registration, click here.

Enterprise funding soars to document $64 billion in Q1, Ernst & Younger says

After a boom year for the tech industry, investors invested money in grocery shipping companies, online brokers, and more in early 2021 Elon Musk’s SpaceX, resulting in a record quarter for US venture finance.

Venture-backed firms raised $ 64 billion in the first three months of the year. This came out of an analysis by Ernst & Young this week that used data from Crunchbase. That’s 43% of the $ 1.48 billion raised in all of 2020, a record year.

“We’re still technically in a pandemic and trying to get out of it,” he said Jeff Grabow, US venture capitalist at Ernst & Young, in an interview. “A year ago everyone thought we were falling into the abyss. To have a record quarter like this is pretty amazing.”

Grabow said while we are clearly on track to see a fourth straight year of $ 100 billion in venture funding, “the question is – will there be a $ 200 billion year?”

The late-stage market continued at a rapid pace after a historic second half of the year for IPOs that included offers from Snowflake, With the Dash and Airbnb. The first two quarters of 2020 were calm as companies changed their plans due to Covid-19, but the market recovered dramatically and continued.

Grabow said there were 183 venture deals worth at least $ 100 million in the first quarter, more than half of last year’s total. The biggest business was the autonomous car company Cruise’s $ 2 billion funding Round in January, led by Microsoft as part of a strategic agreement with General Motors, Majority owner of Cruise.

Digital supermarket Gopuff raised $ 1.15 billion in March for the second largest deal of the quarter. Cloud data analysis software provider Databricks raised $ 1 billion during the reporting period, as did the investment in the app Robin Hoodwho needed liquidity after wild trading GameStop left the company in a financial crisis.

The largest sub-billion dollar round was for private space companies SpaceX, which raised $ 850 million in February, valued at approximately $ 74 billion. The payment software company was also among the top offers Stripe raises $ 600 million at a valuation of $ 95 billion.

In addition to the increasing number of mega-rounds, the early-stage market is also brand new. Grabow said there was record funding on Series A and B deals in the first quarter.

Smaller funds are popping up from week to week, and the AngelList website also allows investors to bring together syndicates of people who want to raise money for startups without networking locally. With so much capital in the system and the advent of virtual dealmaking ZoomingVenture rounds come together much faster than in the past.

“There’s been a lot of buoyancy and excitement in the market because people believe we got through Covid,” Grabow said. “The digitization and technological enablement of the industry has been carried over to steroids.”

The record level of venture investing coincides with the phenomenon of special purpose vehicles (SPACs), or blank check companies, which private companies acquire and go public. SPACs are a possible alternative to late-stage rounds.

As early as 2021, 306 SPACs raised $ 98.9 billion SPACInsider. This surpasses the $ 83.4 billion raised throughout 2020 Record year. Grabow admits that between traditional funding and SPACs venturing into a company, there are sure to be investors taking undue risk.

“It’s called Venture for a reason,” Grabow said. “These are high return situations that involve high risk.”

CLOCK: Elon Musk wants to connect vehicles to the internet

See how a lot stimulus cash your city will get; Michigan splits $10.3B in funding

When Jackson Mayor Derek Dobies learned that his city was receiving $ 32 million from the federal stimulus package, worth $ 1.9 trillion, he wondered if his math was wrong.

It was not.

While Checks for $ 1,400 per person Perhaps this is the most popular part of the plan. Cities celebrate the inflow of money that local governments will see. In Michigan alone, the package will award US $ 4.4 billion to cities, towns, villages and counties.

The state government is getting nearly $ 6 billion for itself, bringing the total to Michigan in funding of $ 10.3 billion.

“It’s definitely necessary,” said Dobies. “It’s probably the biggest injection of stimulus dollars I’ve ever seen – and probably in modern history. I can’t even name a time when we had the opportunity to invest in Jackson again. It was kind of amazing. “

The US House Oversight Committee has made estimates of how much each ward will receive.

Take a look at the database below to see how much your city or town could get. ((Can’t see the database? Click here)

This database below shows how much each county government will receive. ((Can’t see the database? Click here)

The amounts are based in part on population size, but factors such as poverty rates and housing instability are also taken into account for metropolitan areas.

Villages are not included in the estimates, but receive financial support. Your money will come from estimates for the community that surrounds each village. All numbers are subject to change, said Chris Hackbarth, director of state and federal affairs for the Michigan Municipal League.

“Wait for the government to finalize the numbers before relying on them or making plans for those specific dollars,” Hackbarth said.

It is still unclear what the funds can and cannot be used for, Hackbarth said. While it is clear that the money cannot be used for expenses such as pension obligations, the US Treasury Department has not yet published its guidelines on how the money is used.

Dobies hopes to use the money for projects such as road construction, pipeline replacement, housing stability and economic development. But the city will have “listening sessions” on public contributions before giving it out, he said.

“We have no shortage of challenges here in Jackson,” said Dobies, calling the funding “transformative.”

The $ 32 million is larger than Jackson’s overall overall fund budget for that year and a quarter the size of his overall annual budget.

The stimulus plan provides that the funds will be used to cover lost revenue caused by the pandemic, help ailing businesses or improve water, sanitation and broadband infrastructure.

Cities, municipalities and counties have argued that they have been underfunded in the past few decades and therefore had to delay improving infrastructure. This could help communities tackle some of these projects, Hackbarth said.

The money will come in two parts, Hackbarth said, the first half in 2021 and the second in 2022. It has to be spent by December 31, 2024.

While businesses may recover from the pandemic sooner, Michigan communities may not, as they are largely funded by tax revenues. With many of these not getting paid until the end of the year, governments are likely to feel the sting until 2022 or later, Hackbarth said.

Cities with local income taxes also suffer. The Michigan Treasury Department estimates these 24 cities combined lost $ 250 million because employees either worked from home, outside of the city limits, or lost their jobs entirely.

Governor Gretchen Whitmer proposed giving these cities $ 70 million to fill in the loopholes, but lawmakers have not approved the funding. Federal funding could help with this deficit, Hackbarth said.

It was not said when exactly the funds would arrive. Bigger cities get the money direct from the federal government, while smaller communities let it run through state law – but Hackbarth notes that penalties will be imposed if law stops funding.


Millions of Americans who received stimulus checks on St. Paddy’s Day, did your sweetheart find you?

The pandemic is not over yet, Michigan officials warn as COVID-19 numbers rise

Find out which companies in your county have received help from Michigan’s $ 55 million COVID-19 relief program