Jay-Z Invests in a Bail Reform Startup
Amazon might buy some Toys 'R' Us stores to grow its brick-and-mortar presence. Toys 'R' Us filed for bankruptcy protection last year and since then has been closing its U.S. store locations. Rumor has it that if Amazon does take over, it would not keep the Toys 'R' Us brand name.
First Capital and Jay-Z’s Roc Nation invested $3 million in a bail reform startup. Promise is a de-carceration startup that supports and helps low-risk people get out of jail. Promise is currently part of Y-Combinator's bundle of startups and provides a cost-effective and more humane alternative to incarceration.
Rachio, a startup that builds Wi-Fi controllers for your garden sprinklers, raised $10 million dollars in a series B round. The user-friendly system takes the guesswork out of watering your plants and creates a custom schedule that automatically adjusts to your local weather. Rachio also integrates with your smart home devices like Alexa, Google Assistant, Nest and SmartThings.