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Among the crowds of rising startups, there are several that stand out. They have combined innovative ideas with substantial support from private equity firms. Robust business plans and copious financial backing poise these firms for success. Whether They are in the midst of a meteoric rise or have slowly gown into their own, these few companies are the startups to watch this year.
UmeBike
The dockiess bike-sharing company has come a long way since it launched in June 2017. In only a few months, the startup’s bright green bicycles have shown up on the streets of places as diverse as Seattle and Switzerland. The eagerness of venture capital companlesto invest in the burgeoning startup spurred ltsgrowth, and in less than a year, UmeBike has snagged more than $6o million In funding. The startup currently provides more than 10,000 rides a day in the United States alone.
MO
The Chinese startup, founded in 2014, is poised to offer Tea stiff competition in Asia and abroad. The electric car company achieved unicorn status in 2017, roping in more than $1.6 billion in funding. Ni 0 recently debuted their electric SW, the ES8. it retails at about half the price of Tesla’s basic Model X SW, spurring speculation that Tea will have trouble conquering the electric car market in China. NIO plans to use its new funds to develop self-driving cars and expand Its operation Into the US.
ByteDance
Owner of China’s popular Toutiao website and app, ByteDance has been busy acquiring hot new properties to expand its purview in 2018. Its most significant purchase to date has been Musically, the video and music startup. According to reports ByteDance shelled out $1 billion to purchasethe video app. They also snagged news aggregator News Republic for $86.6 million. ByteDance hopes to use its latest funding round of $5o million to further expand in Asia and the United States.
American Well
When Roy Schoenberg moved to the US in the 1990s to attend medical school at Harvard, he never imagined that he would one day be the CEO of America’s hottest telehealth startup, American Well. With the help of his brother id o, Dr. Schoenberg has built the Boston-based company into a juggernaut of modem healthcare tech. The service allows patients to bypass waiting rooms and exam tables by connecting users directly with healthcare providers over the intemet. The company recently scored a coup when it Inked a lucrative deal with Meuhedet, one of Israel’s largest HMOs.
Fuyoukache
This Beijing-based startup flew largely under the radar since its launch in 2014, until 2017, when it began attracting interest from firms like Legend Capital and ZhenFund. By using technology to improve freight flow and track truck shipments, the company hasfound Its niche in the Chinese market. Fuyoukache’s latest funding round of $23 million is expected to help the company improve its logistic services. The firm, which reported a 3o% growth rate in 2016, is projected to expand steadily across China In 2018.