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Illustration: Aïda Amer/Axios

Canva, an Australian design software company, raised $200 million at a $40 billion valuation led by T. Rowe Price.

Why it matters: This makes Canva the world's fifth most valuable private startup, behind Klarna and ahead of Instacart. It also stands apart by being profitable, led by a woman CEO and based in Sydney.

  • Other investors include Franklin Templeton, Sequoia Capital Global Equities, Bessemer Venture Partners, Greenoaks Capital, Dragoneer Investments, Blackbird, Felicis and AirTree Ventures.

The bottom line: "Originally known as a tool for amateur designers or small businesses, Canva's freemium software is used by more than 60 million monthly users. But more than 500,000 paying teams now use Canva, too, including companies like American Airlines, CBRE, Intel, Kimberly-Clark and Zoom, for everything from social media assets to sales and human resources presentations, or, in the case of Live Nation, assets for upcoming rock concerts," Forbes writes.

Go deeper

Sep 15, 2021 - Economy & Business

SmartNews raises $230 million at a $2 billion valuation

SmartNews Twitter

SmartNews, the Japanese news discovery app founded in 2012, on Wednesday announced a $230 million in Series F round funding at a $2 billion post-money valuation, bringing its total capital raised to date to more than $400 million.

Why it matters: SmartNews is now one of the most valuable standalone news aggregation apps, and plans to use its new money to expand its U.S. presence.

Ben Geman, author of Generate
41 mins ago - Energy & Environment

China vows end to building coal-fired power plants abroad

Chinese President Xi Jinping. Photo: Mary Altaffer - Pool/Getty Images

Chinese President Xi Jinping told the United Nations General Assembly Tuesday that his country "will not build new coal-fired power projects abroad" and plans to boost support for clean energy in developing nations.

Why it matters: The pledge, if maintained, would mark a breakthrough in efforts to transition global power away from the most carbon-emitting fuel.

House Democrats strip Iron Dome money from government funding bill

Photographer: Sarah Silbiger/Bloomberg via Getty Images

House Democrats on Tuesday stripped $1 billion for Israel's Iron Dome defense system from its short-term government funding bill after backlash from progressives, people familiar with the decision tell Axios.

Why it matters: There has never a situation where military aid for Israel was held up because of objections from members of Congress. While the funding will get a vote in its current defense bill, the clash underscores the deep divisions within the Democratic party over Israel.

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