Business and technology quick bites

Updated version at 8.00 am

The highlighted words in red are links to the news article.

April 8, 2021,

Business News

1. Oil futures up on Wednesday on an improving global economic outlook, but gains were capped by rising gasoline inventories and fears that new coronavirus outbreaks will weaken a global recovery in fuel demand.
2. KKR & Co. is buying a majority stake in Therapy Brands, a behavioral-health software provider, for about $1.2 billion including debt in the private equity firm’s latest deal in the sector.
3. GIC-backed Trax has secured US$640 million in a Series E financing round led by Softbank Vision Fund 2 and existing investor BlackRock Inc, the company said late on Wednesday.
4. Deliveroo shares rose on Wednesday, the first day retail investors could trade stock bought during the food delivery group’s initial public offering (IPO).
5. Malaysia said today it had secured potential investments from South Korea and Japan amounting to RM16.05 billion and export purchases of about RM986.2 million to be realised in the coming years.

Technology News

1. Clubhouse is barely a year old but has drawn appearances from some of the biggest names in business and Hollywood. Bloomberg News reported earlier this week that Clubhouse is in talks to raise funding from investors in a round valuing the business at about $4 billion.
2. Wisk Aero, a maker of electric-powered aircraft designed for use as flying taxis, claims its technology was stolen by Archer Aviation, a rival startup valued at US$3.8 billion in a blank-cheque deal earlier this year involving United Airlines Holdings and investment banker Ken Moelis.
3. Groww completed a funding round valuing the company at more than $1 billion, making the millennial-focused investment platform the fourth Indian venture to become a unicorn in a week. The Bengaluru-based startup raised $83 million in the round led by Tiger Global.
4. Australian graphic design tool startup Canva Pty. Ltd.  has raised $71 million in new funding on a $15 billion valuation, making it the largest startup to come from the country since Atlassian Corp. plc.