Today’s early-stage startup funding and acquisitions news:
Commerce
Singapore-based iCarsClub, which enables users to rent out their cars to the transportation-challenged by the hour, has nabbed $482K in Seed funding. The funding came from Red Dot Ventures, a VC affiliated with the Singapore government’s National Research Foundation. The service is currently only available in Singapore, with plans to expand to other markets in Asia, according to TechCrunch.
Sydney-based Posse has raised $500K in additional funding to coincide with the debut of its local word-of-mouth discovery app in the U.S. and its new iOS app. The company, which was founded in 2008, has raised more than $3.5 million previous to this latest funding round. Investors include Lars Rasmussen, Google Maps creator and currently Facebook’s Director of Engineering; Angel investor Bill Tai; Bill Lee of Remarq; Australian fund Elevation Capital; Simon Rothman, founder of eBay Motors; and Dave Sibley of MTV. More about the announcement via TechCrunch.
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