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Funding News
TechCrunch
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Blackbird gobbles up $50M for its blockchain-based payment-loyalty app for restaurants
- Blackbird Labs has raised $50 million for its blockchain-based payment-loyalty app for restaurants.
- The company plans to launch a cross-restaurant 'points' service called Blackbird Club and expand into new markets.
- Leading the funding round is Spark Capital, with participation from Coinbase Ventures, Amex Ventures, and Andreessen Horowitz.
- Blackbird's Flynet payment service utilizes blockchain technology and aims to improve the profitability of restaurants by reducing payment processing fees.
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Eu-Startups
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Qevlar AI raises €9 million to supercharge security operations centres with agentic AI
- Paris-based Qevlar AI raises €9.1 million in funding to enhance security operations centres with autonomous AI SOC analysts.
- The funding from investors like EQT Ventures and Forgepoint Capital International will help Qevlar AI empower SOC teams to tackle cyber threats more effectively.
- Qevlar AI's autonomous agents aim to redefine security operations by conducting investigations swiftly, accurately, and consistently, boosting SOC productivity.
- Founded in 2023, Qevlar AI assists SOC analysts in enriching, investigating, and triaging security alerts, thereby improving defense posture.
- Rising cyber-attacks and complexities, compounded by a skills shortage, drive the need for advanced AI solutions in cybersecurity, as highlighted in various research reports.
- Qevlar AI's platform has led to significant reductions in time spent on alerts, improved accuracy rates, and autonomous closure of benign alerts for organizations.
- The company's autonomous investigation API accelerates incident analysis, freeing up analysts and enhancing efficiency by up to 90%.
- The funding will support Qevlar AI's team expansion, product development, and international market growth, with plans to further revolutionize SOC capabilities.
- Damien Henault from Forgepoint Capital International will join Qevlar AI's Board of Directors as part of the latest funding round.
- Qevlar AI's innovative approach in automating threat investigations and integrating with existing security infrastructure shows promise in advancing SOC efficiency.
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Bloomberg Quint
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145
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US Bill Proposes To Limit Work Options For International Students: How Does It Impact Indians?
- The US Congress has proposed a new bill to end the Optional Practical Training (OPT) program, which allows international students to work after completing their studies.
- The proposed bill would significantly restrict international students' ability to have work experience in the US.
- If passed, international students may be forced to leave the country immediately after graduation unless they transition to an H-1B visa.
- The proposed move comes as part of the Trump administration's anti-immigration measures.
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TechCrunch
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68
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Sizl raises $3.5M to expand its cook-to-order food delivery service
- Chicago-based cook-to-order delivery service Sizl has raised $3.5 million in a recent seed round at a $12 million post-money valuation.
- Sizl differentiates itself from traditional dark kitchens by running its own kitchens with a small team and sourcing fresh ingredients from local suppliers.
- The company focuses mainly on Eastern European cuisine and offers a limited menu of 60 items, including family recipes and everyday meals.
- Sizl plans to use the funding to open more kitchens in Chicago, expand to other cities, and has a Series A round planned for later this year or early 2026.
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Bloomberg Quint
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227
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Aye Finance, GK Energy, Two Others Get SEBI Approval For IPO
- Anthem Biosciences, Aye Finance, BlueStone Jewellery, and GK Energy have received SEBI approval for IPO.
- Anthem Biosciences plans to raise funds through an offer for sale (OFS) worth Rs 3,395 crore.
- Aye Finance is planning an IPO with a fresh issue of shares worth Rs 885 crore and an OFS of Rs 565 crore.
- BlueStone Jewellery and Lifestyle is also planning an IPO with a fresh issue of shares worth Rs 1,000 crore and an OFS of 2.4 crore equity shares.
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Bloomberg Quint
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342
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Goldman Sachs Warns Oil Below $40 Is Possible In ‘Extreme’ Scenario
- Goldman Sachs warns that oil prices could fall below $40 a barrel in an 'extreme' scenario.
- Brent crude oil hits a four-year low at $63.90 per barrel.
- The global oil market is experiencing volatility due to the Trump administration's trade war escalation and pushback from economies such as China.
- Goldman Sachs analysts anticipate Brent crude to be at $55 per barrel by December next year in the bank's base-case outlook.
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Bloomberg Quint
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171
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Draft Delhi EV Policy 2.0 Proposes Phasing Out Of CNG Autos
- The Delhi government's upcoming Electric Vehicle Policy 2.0 aims to phase out vehicles running on fossil fuels and promote the use of electric vehicles across the metropolis, according to officials.
- Starting Aug. 15 this year, new registrations for CNG-powered autorickshaws will not be allowed, and existing CNG auto permits will not be renewed, with only e-auto permits being issued.
- By Aug. 15, 2026, two-wheelers using petrol, diesel, or compressed natural gas will no longer be allowed, while new registrations for goods carrier three-wheelers powered by these fuels will stop from Aug. 15, 2025.
- Private car owners with two or more vehicles will only be allowed to purchase electric cars once the policy comes into effect, with the goal of minimizing the use of fossil fuels and promoting cleaner transportation.
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Bloomberg Quint
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85
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EPFO's Reforms For Claim Settlement: Here's How They Impact Employees
- The Employees' Provident Fund Organisation (EPFO) has introduced reforms to simplify the claim settlement process for EPF members and employers.
- Members will no longer be required to upload an image of the cheque leaf or attested bank passbook while filing online claims, simplifying the documentation process.
- EPFO has removed the requirement of needing approval from the employer for bank account seeding with the Universal Account Number (UAN), benefiting nearly 15 lakh EPF members.
- These reforms aim to introduce faster, simpler, and hassle-free claim settlements, reduce claim rejection rates, and increase the overall efficiency of the system.
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Bloomberg Quint
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291
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Scientists Revive Extinct Dire Wolves After 12,500 Years Using Ancient DNA
- Scientists have successfully revived the extinct dire wolf using ancient DNA, cloning, and gene editing, marking a major breakthrough in de-extinction science.
- Two pups, named Romulus and Remus, have emerged as the first living examples of the species in over 12,000 years.
- The revival was achieved by using DNA recovered from ancient remains and combining gene-editing tools, cloning, and the DNA of the dire wolf’s closest living relative.
- This breakthrough has opened new possibilities and questions about the future of de-extinction.
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Bloomberg Quint
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124
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5 Assets That Investors Must Have To Navigate Through Volatile Markets
- Gold is a reliable hedge against inflation and global uncertainty.
- Real estate brings physical security and rental income.
- Having cash or money in liquid funds helps in staying prepared during volatile markets.
- Blue-chip stocks and government bonds offer stability and steady growth over time.
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Bloomberg Quint
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304
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UAN Activation Made Easy For Employees Via Direct Face Authentication
- The Employees' Provident Fund Organisation (EPFO) has introduced Universal Account Number (UAN) allotment and activation using face authentication through the Umang Mobile App.
- This move aims to improve the low rate of UAN activation and simplify the process for employees and employers.
- Currently, UANs are mainly generated by employers, leading to errors in other fields of personal data.
- In the financial year 2024-25, 1.26 crore UANs were allotted, but only 35.3% of them were activated by the members.
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Bloomberg Quint
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115
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Trump Dismisses Last-Gasp EU Push to Stop Tariffs Kicking In
- President Donald Trump rejected a European Union proposal to drop tariffs on all bilateral trade in industrial goods with the US, prompting his 20% tariff on all EU imports to take effect soon.
- The European Commission dropped plans for a 50% retaliatory tariff on American whiskey and proposed tariffs on a selection of US goods, including diamonds, motorcycles, pleasure boats, and agricultural products.
- Trump criticized the EU for maintaining trade barriers, accusing them of being unfair in the transatlantic trading relationship.
- The EU has previously offered to eliminate tariffs on industrial products if the US reciprocates, but Washington has not engaged in the proposition.
- Trump promised an additional 50% tariff on Chinese imports, escalating tensions with both the EU and China in his trade policy.
- The EU aims to prevent the trade dispute from spiraling out of control, but Trump has been demanding concessions, including increased purchases of energy from the US.
- Trump criticized European trade policy, alleging that the EU blocks US access to cars and agricultural products, while insisting on fairer trade terms.
- EU trade ministers signaled readiness to deploy countermeasures, including potential taxes on US tech companies, in response to the tariffs imposed by the US.
- Global markets have been affected by fears of a global recession due to the escalating trade war, with investors concerned about the impact on the economy.
- EU members supported the commission's approach to negotiate and prepare countermeasures if talks fail, giving a solid mandate to proceed with the plan.
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Bloomberg Quint
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270
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Maharashtra Departments Told To Ensure 'No Rush Of Expenditure' In Last Month Of FY25
- The Maharashtra finance ministry has directed all state departments to avoid a 'rush of expenditure' in the final month of the current financial year.
- Departments failing to meet 50% expenditure by December will face proportionate budget cuts.
- 60% of the funds will be released during the first nine months of FY 2025-26.
- Departments are advised to plan their spending efficiently to avoid budget reductions.
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SiliconCanals
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55
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Dutch-based QurieGen raises €2.2M to build ‘Google Maps for cells’ and transform cancer drug discovery
- Dutch-based cellular technology company QurieGen has raised €2.2M in a pre-seed funding round, supported by investors including Tensor Ventures, Lighthouse Ventures, BSV Ventures, Moondust Ventures, and 22 Hor Invest, as well as Tim Draper of Draper Associates.
- The funding will be used to develop AI-based technology to accelerate drug development progress in oncology and enhance the drug discovery and development process.
- QurieGen's platform combines proprietary technology for cellular mapping, single-cell genomics, and advanced data science to build predictive disease biology and drug response models, reducing risks and accelerating drug discovery.
- Selected for the prestigious NATO DIANA program, QurieGen will receive funding, access to test centers, and participation in dedicated accelerators to develop dual-use technologies applicable in both civilian and defense sectors.
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Bloomberg Quint
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300
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Japan To Get Priority In Trade Talks After Trump-Ishiba Call
- Japan looks set to get priority in US tariff talks, moving to the front of a long line of countries seeking to roll back President Donald Trump’s so-called reciprocal duties.
- Treasury Secretary Scott Bessent expects Japan to get priority among trading partners for coming forward quickly.
- Japanese Prime Minister Shigeru Ishiba expressed concerns over the impact of US tariffs on Japan's auto industry.
- Shares in Japan jumped on optimism that the duties might be eased back.
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