General Motors Ventures is a corporate venture capital arm of General Motors who took part in a Series A funding round of a tech company called Spring Labs. August Capital, RRE Ventures, Galaxy Digital, Multicoin Capital, The Pritzker Group, and CardWorks along with General Motors Ventures also took part in the round. GreatPoint Ventures led the round.
Spring Labs has made an announcement of securing $23 million in the funding round on Jun 12, 2019. Transforming the information sharing related to financial institutions is a reason behind the securing of the funds.
The Chief Executive Officer (CEO) and the Co-Founder at the tech company Spring Labs Adam Jiwan said, “We’re pleased to announce our Series A with strong participation from existing and new strategic investors, enabling us to accelerate the development of new products as well as the Spring Protocol itself. Additionally, we’re excited to expand our relationship with GM Financial, which has demonstrated its commitment to innovation and collaboration over the past year, playing an active role in the evaluation of products and use cases on the Spring Protocol.”
The corporate venture capital arm General Motors Ventures is recognized as a business consulting firm. It was set up in the year 2006. It is headquartered in São Paulo, SP. It can be a strategic partner for those foreign firms who want to invest in Brazil. For helping headquarter abroad, all main General and Cash Management services which GM Venture offers. Process accounts payable/receivable, cash flow, general reporting to the HQ, end-to-end HR matters and bridge with BPOs & law firms are the activities which GM Venture manages. Open-mindedness, innovation, excellence, and a strong team spirit are the core values which all employees maintain, according to the official LinkedIn account of General Motors Ventures.
The tech company Spring Labs was established in the year 2017. It has its offices in Chicago (a city in Illinois) & Los Angeles (a city in California), PR Newswire reported.
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