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Startup News
Alleywatch
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The September 2024 US Venture Capital Funding Report
- In September, close to $7.5B was invested in US startups.
- The average early-stage round in the US for September was $3.4M.
- The average Series A round in the US for September was $22.1M.
- The average Series B round in the US for September was $24.2M.
- The average late-stage round in the US for September was $67.8M.
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Hitconsultant
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Image Credit: Hitconsultant
Pip Care Raises $5M for AI-Powered Surgical Journey Platform
- Pip Care, a company revolutionizing the surgical experience for patients and care teams, has raised $5 million in Series A funding.
- Pip Care combines a smartphone app with personalized coaching to guide patients through their surgical journey.
- The platform utilizes AI to provide surgery-specific instructions, remote monitoring, and personalized coaching.
- The funding will support the enhancement of the technology, expansion of the platform, and validation through clinical trials.
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Geek Wire
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Tech Moves: Expedia names new CTO; F5 adds board members; Humanly hires sales exec
- Ramana Thumu has been appointed as the chief technology officer for Expedia Group, overseeing engineering operations.
- Tara Mitchell has been named vice president of sales at Humanly, a Seattle startup specializing in recruiting automation.
- F5, a Seattle-based company, has added Maya McReynolds and Julie Gonzalez to its board of directors.
- Viral Thacker is leading a new ad sales and product group for Amazon's Twitch, according to reports.
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Npengage
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Image Credit: Npengage
The Collaboration Continuum: How Funders Can Support Authentic Community Change Strategies
- Nonprofit organizations need to collaborate to serve overlapping client bases and to address complex social challenges, but genuine collaboration requires time, trust, and training.
- Funders have the responsibility of ensuring that collaboration efforts are successful, and they should support both the projects and the capacity of agencies to work together.
- There are different levels of collaboration, including referrals, partnerships, collaborations, and collective impact, with each representing varying degrees of cooperation between organizations.
- Funders should manage their expectations while fostering collaboration among nonprofits and approach it thoughtfully to ensure meaningful and sustainable relationships.
- Building trust and investing time and money are critical elements in the establishment of successful collaborations.
- Funders must be specific in what they want to see, and they must support agencies along their journey of working together and building trust.
- A structured approach to collaboration, collective impact involves organizations from different sectors coming together to solve a complex social problem with a unified strategy.
- Successful collaborations require non-financial and financial investment beyond funding for the collaborative project itself. Investing in the long-term health of these partnerships creates a stable foundation for lasting impact.
- Meaningful collaboration benefits both nonprofits and the communities they serve; funders should look into creating more change through partnerships that encourage and foster collaboration.
- By supporting open communication, transparency, and mutual respect, funders can help build trust among collaborating organizations and aid in the process of establishing successful collaborations
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The Total Entrepreneurs
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The Importance Of A Good Team: Lessons Learned From Founding Successful Startups
- Startups need to establish a great team to help them support the business from early stages.
- A good team is composed of employees that have unique strengths and complementing skills.
- They should also have mutual respect, trust and open communication to create a positive company culture.
- Having a shared vision that would resonate with all members of the organization is an important part of running a startup.
- A company vision should be easy to understand, inspiring and well-distributed across all applicable channels.
- Creating a shared vision should involve the whole team to get valuable insights from others as well as create a shared sense of ownership.
- The trust an organization establishes with its employees plays a major factor in how well they build relationships.
- Having open communication in a business helps all employees to feel confident and comfortable becoming an active voice in the business.
- Regular team meetings and direct one-on-one conversations ensures all essential topics are covered and help create a more personalized discussion.
- Startup owners should work to establish a shared vision and play to their strengths to achieve success.
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Inc42
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Image Credit: Inc42
Suraasa Bags $6 Mn To Upskill Teachers For Global Opportunities
- Delhi NCR-based edtech startup Suraasa has raised $6 Mn in a funding round led by Reach Capital.
- The funds will be used to scale up operations globally, expand the team, and enhance the tech stack.
- Suraasa offers competency-based skilling programmes for teachers and aims to address the global shortage of qualified teachers.
- The global teacher training market is projected to reach $22.2 Bn by 2030.
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Medium
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Image Credit: Medium
The Promise and Challenge of Text-to-Code Technology
- Text-to-code technology has shown successes in generating code snippets, automating repetitive tasks, and aiding in writing functions.
- However, complex or nuanced instructions can pose challenges, leading to incorrect or inefficient code generation.
- Despite its setbacks, text-to-code technology offers rapid prototyping, cost savings, and increased accessibility for beginners.
- As AI and NLP improve, text-to-code systems may become more accurate and capable, potentially revolutionizing the way we interact with computers.
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TechCrunch
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Image Credit: TechCrunch
Last-minute Expo+ 2-for-1 passes available for TechCrunch Disrupt 2024
- Last-minute Expo+ 2-for-1 passes available for TechCrunch Disrupt 2024
- TechCrunch Disrupt 2024 is just weeks away, and to ensure no one misses out on this highly anticipated event, Expo+ 2-for-1 passes are being offered for the final days leading up to the event.
- The offer allows attendees to bring a friend, colleague, or family member to Moscone West in San Francisco from October 28-30 for half the price of one pass.
- Expo+ pass holders will have full access to the Expo Hall, breakout sessions, Braindate meetings, Women of Disrupt Breakfast reception, and side events.
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Medium
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Image Credit: Medium
Emerging VC Talent: Edition 4, Alex Chung
- In the fourth edition of Emerging VC Talent, Alex Chung, Associate at Chai Ventures, shares insight on his professional background and career journey so far. Chung believes that both an athlete's mindset and grit and perseverance are vital to a founder's or investor's success. He is bullish on women in capital allocator roles and investing in women founders, stating that there is a massive wealth transfer taking place. Chung also anticipates that new companies will emerge and cater to an evolving consumer profile. The increased time spent on fundraising and securing capital can take time away from deploying capital, though junior professionals have the opportunity to add significant value by building relationships and sourcing LPs. Chung's mentor advised him to do research before speaking with someone and always send a thank-you note.
- Chai Ventures is a pre-seed and seed stage fund investing in women-led companies solving critical problems with businesses that deliver impact at scale across the high-growth sectors of better world, health and wellness, and human connection. Chung's career path has not been linear, but his curiosity to understand what excites people has always guided his choices. Chung's innate curiosity about consumer behavior has always guided his career choices. Chung believes that women are increasingly leading areas of spending and income, and in many countries, including the U.S, more women are graduating from college than men.
- Chung is training for the NYC marathon and states that sticking with something and putting in the reps will eventually lead to results. He notes that their fundraising journey at Chai Ventures involves talking to a set number of people each week and hitting specific milestones, focusing on doing a few things well rather than taking on too much at once and executing poorly. Chung anticipates that the emergence of a new class of companies will cater to an evolving consumer profile, and cherishes the opportunity to secure buy-in from his team and create value for those invested in.
- Market crashes have created difficulty in the private markets, especially for LPs whose capital is tied up in alternatives like PE and VC. Chung recommends building relationships with junior professionals at fund-of-funds, especially folks you may have alumni connections with, and setting up informational chats. He believes that meeting people in person is invaluable, leveraging LinkedIn, and a well-crafted cold message can go a long way.
- Chung is optimistic about women-led companies driving innovation in areas they understand best. Chung believes that the decision-making process for women is very different from the decision-making process of men. Women often seek more data points, recommendations from friends and online reviews, even for simple purchases like buying a pair of jeans.
- Chung champions Mimikai and Landing, the two companies he had strong conviction, and focused on figuring out how to genuinely be helpful and create value for these companies post-investment. Chung's mentor advises him to do research before speaking with someone and always send a thank-you note.
- More broadly, for junior people in venture, the increased time spent on fundraising and securing capital can take time away from the “fun” work — deploying capital. Chung thinks that junior professionals have the opportunity to add significant value by sourcing LPs and building relationships without overstepping, making themselves invaluable contributors to the fundraising process.
- When it comes to larger decisions, like investing or buying a home, Chung notes that preferences for women become even more pronounced. Chung is interested to see how macroeconomic trends will influence the market and what new companies will emerge. Chung believes that the same principle applies to growing a firm: focus on doing a few things well rather than taking on too much at once and executing poorly.
- Chung believes that junior folks in VC will be interesting to see how junior folks in VC respond to the increasing competitiveness for access to capital. Insights from professionals at fund-of-funds can create lasting relationships, build your network, and help navigate the fundraising process.
- Chai Ventures is committed to providing guidance for women in capital allocator roles and investing in women founders, Chung notes. In consumer behavior, Chung believes that women are increasingly leading areas of spending and income.
- Chung's mentor advises him to do research before speaking with someone and always send a thank-you note. Chung focused on creating value for companies by securing buy-in from his team and his investment's mission.
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ISN
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Image Credit: ISN
Fintech unicorn Slice raises $8.6 million from founder & CEO Rajan Bajaj
- Bengaluru-based fintech unicorn Slice has raised Rs 71.7 crore (approximately $8.6 million) from its founder and CEO, Rajan Bajaj.
- The funding comes through partly paid-up shares, as revealed in the company’s regulatory filing.
- The investment will be used for general corporate purposes to support Slice’s expansion and operational goals.
- Slice has raised over $378 million in funding and became a unicorn startup in November 2021.
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Medium
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Perks of Silicon Valley: Webvan Style
- Webvan and Amazon took different paths in the world of delivery.
- Webvan's failure can be attributed to premature expansion, high overhead costs, poor financial planning, and the immaturity of the e-commerce market.
- Amazon's success stems from gradual scaling, technological prowess, careful capital management, and a customer-focused strategy.
- While Webvan's vision was bold, it lacked the necessary infrastructure and financial discipline, whereas Amazon revolutionized the delivery industry over the course of decades.
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ISN
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Image Credit: ISN
Tetr College of Business launches $10 million fund for student entrepreneurs
- Tetr College of Business has launched a $10 million initiative named the 'Tetr - Under 20' fund.
- The fund aims to support young student entrepreneurs by providing them with investments and resources to turn their innovative ideas into successful businesses.
- The fund will focus on areas such as artificial intelligence, emerging technologies, and sustainability.
- Selected participants will have access to mentorship, industry connections, and pitch opportunities for future funding and growth.
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Economic Times
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Image Credit: Economic Times
Not concerned about new competitors entering quick commerce space: Albinder Dhindsa of Blinkit
- Albinder Dhindsa, CEO of Blinkit, expressed no concerns about new competitors entering the quick commerce market.
- During the first quarter of FY25, Blinkit reported a significant rise in revenue to Rs 942 crore.
- The company aims to increase its dark store count to 2,000 by the end of 2026.
- Competitors in the quick commerce sector include Swiggy Instamart, Zepto, Minutes by Flipkart, BigBasket, Reliance Retail, and Amazon.
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Medium
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Image Credit: Medium
The First Project I Managed: What I Did to Prevent a Total Disaster
- The author shares their experience of managing their first project and preventing a total disaster.
- The project had flaws in design, planning, scheduling, and budget estimation, which caused problems later on.
- The project relied on stakeholder engagement, but faced challenges in mobilizing support and getting technical documents approved.
- By presenting progress and a revised work plan, the team was able to regain control and successfully complete the project.
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Medium
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Image Credit: Medium
‘For Want of a Domain, the Business Was Lost’
- A domain broker recounts a story of a client who may lose their entire business due to not securing their brand matching dot COM domain.
- The client operated on their brand name dot IO domain, which was a natural fit for their business vertical.
- A hacker took advantage of the availability of their brand matching dot COM domain and conducted a successful phishing campaign, leading to a data breach and loss of trust.
- Failing to secure the most recognized and trusted domain extension, the dot COM, is a major security risk that many organizations overlook.
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