Flux Factory Inc. was founded back in 2010 in the Google X Labs. Shortly thereafter, the moonshot candidate was spun out into a private company. For those unfamiliar with it, Flux Factory provides collaborative design software for the architecture design and construction industry. Now, 5 years after being founded as a moonshot in Google X, Flux has raised $29 million in Series B funding.
Update: The Financial Times is reporting that Google Ventures is shutting down its $125 million European fund. Starting in 2016, all investments will be made by a global fund, rather than having separate US and European divisions. Five investments made by its European fund were in the UK, while the sixth, a Swedish VR gaming studio, was invested by its US fund.
As 2015 comes to a close, Google Ventures, Alphabet’s venture capital arm, has released their year in review. In a letter, CEO Bill Maris says the firm invested in 39 companies this year and has $2.4 billion under management. For comparison, they had $1.6 billion and invested in 57 new companies last year.
Digg founder Kevin Rose was first hired by Google as a partner at Google Ventures in early 2012, and today we learned Rose is shaking up his involvement at the search company’s investment arm. As Fortune notes, Kevin Rose decided several months back to move from general partner to venture partner at Google Ventures, and today Rose shared that his role will shift to an advisory one.
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