A global development financier's Silicon Valley foray

April 13, 2015 4:00 PM

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SAN FRANCISCO, April 13 (Reuters) - San Francisco-based startup Planet Labs, a company that aims to blanket the skies with low-cost satellites, has raised nearly $140 million from investors that include Russian billionaire Yuri Milner and SpaceX backer Draper Fisher Jurvetson. Now, the company has raised an additional $20 million from an unlikely contender: the venture arm of the International Finance Corporation, a multilateral lending organization that's part of the World Bank.

The IFC describes its mission as "alleviating poverty and creating opportunity." Generally, that has meant investing in emerging markets, not the Silicon Valley.

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