RepairSmith, a Los Angeles-based startup offering mobile automotive repair and maintenance, collected $42 million in Series B funding from investors including TI Capital, Mercedes-Benz, Porsche Ventures and Spring Mountain Capital. TI Capital's Ziad Ghandour and Spring Mountain Capital's John L. Steffens joined the board.

One, a fintech startup based in San Francisco and Sacramento, nabbed $40 million in Series B funding. Progressive Investment Company led the round, which saw participation from Obvious Ventures, Foundation Capital, Core Innovation Capital and others.

Smallcase, an Indian wealth management provider, grabbed a $40 million Series C round. Lead investor Faering Capital was joined by Amazon, Premji Invest, Sequoia Capital, Blume Ventures, Beenext, Arkam Ventures, WEH Ventures and others in the new financing.

Tech News

Amazon plans to open large retail locations akin to department stores

Elon Musk doubles down on artificial intelligence at Tesla

Facebook hit with new antitrust suit from Federal Trade Commission

Toyota to cut output as chip shortage finally catches up to it

China's Tiangong vs. International Space Station: tech, design unpacked [WSJ Video]

Intel CEO calls chip maker 'willing buyer' as semiconductor industry consolidates

With a frenzy of deals, Fanatics swoops in to reorder the trading-card world

Around the Web

The new startup trend: Founders say 'no' to the highest VC offers (The Information)

The FBI's warning to Silicon Valley: China and Russia are trying to turn your employees into spies (Protocol)

What is happening to risk-taking in venture capital? (TechCrunch)

(END) Dow Jones Newswires

08-20-21 0943ET