designstripe Raises $10M in Funding

designstripe

designstripe, a Montreal, Canada-based startup that provides visual communication and creative tools for everyone, raised $10M in funding. The round was led by Insight Partners, with participation from Silicon Valley Bank. The company will use the funding to enhance and expand its design tools in all creative categories including photo, motion and video. Founded in 2020 by serial entrepreneur and investor Francois Arbour, who sold his first business PremiumBeat to Shutterstock in 2015, designstripe currently offers a combination of customizable content and intuitive tools for non-designers across consumer and enterprise clients. It owns a large repository of customizable assets and illustrations with the ability to export to a variety of file types. Since the launch of its initial product, the company has achieved significant growth in new clients and daily users.

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Posh Raises $3.8M in Seed Funding

Posh, a Hayward, CA-based provider of electric vehicle battery recycling solutions, raised $3.8M in Seed funding. Backers included Helium-3 Ventures, Y Combinator, Metaplanet, Outbound Capital, Starling Ventures, Uphonest Capital, and Global Founders Capital. The company intends to use the funds to accelerate growth and expand operations. Led by CEO Wesley Zheng, Posh automates EV battery recycling to build sustainable energy storage solutions. By combining computer vision and robotic arms, the company offers a safe, universal, and scalable way to provide sustainable energy storage solutions.

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