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StartupDaily

286

Startups 101: Understanding secondary share sales – why not all fundraising is created equal

The media often confuses true capital raises with secondary sales, leading to a distortion of the amount of new funding startups receive.
Secondary sales happen when existing shareholders sell their shares, creating liquidity, but no new money is injected into the business.
Misrepresenting secondary sales as fundraising can mislead stakeholders and cause confusion within the startup ecosystem.
Founders should be clear in their communication, understand the optics, and use secondary sales strategically.

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StartupDaily

429

Kiwi fintech Emerge cashes in NZ$12 million Series A for challenger bank plans

New Zealand fintech Emerge has raised $12 million in a Series A to build the country's first challenger bank.
The funding round was led by Altered Capital and included support from Icehouse Ventures, K1W1, NZ Fintech Fund, and US VC Hard Yaka.
Emerge plans to use the funds for marketing, sales, product hires, and to ramp up its business-focused go-to-market strategy, offering banking services for startups.
The app-based alternative has already launched business accounts, cards, and EmergePay, which turns a smartphone into a payment terminal.

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Economic Times

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Footwear startup Yoho bags Rs 27 crore, eyes offline and international expansion

Direct-to-consumer footwear startup Yoho has raised Rs 27 crore in a funding round led by Gulf Islamic Investments.
Participation from Rukam Capital and angel investors like Paytm CEO Vijay Shekhar Sharma and SoftBank Investment Advisers CEO Rajeev Misra.
The startup offers a diverse range of products, including casual wear and formal shoes for both men and women.
Funds will be used to support growth initiatives, research and development, marketing efforts, recruitment, offline expansion.
Yoho aims to enhance offline presence across India, targeting partnerships with 2,000 multi-brand outlets in tier I and II cities.
The company plans to expand its product catalogue threefold to 300 styles by 2025.
Yoho gets about 80% of its revenue from online channels, with remaining 20% from offline sales.
Yoho last raised Rs 20 crore in October 2022.
The startup plans to expand into international markets including the Middle East, Africa, and the US by early next year.
Yoho's approach of combining biomechanical expertise with affordability targets an important void in the market, says SoftBank CEO Rajeev Misra.

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VIE Stories

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‘Worst decision of my life’: Semiconductor Startup CEO in Bihar Says

Chandan Raj, the founder and CEO of Suresh Chips and Semiconductor Pvt Ltd, expressed regret over starting a company in Bihar.
He referred to Bihar as 'The land of frustration' and stated that it is difficult for semiconductor and VLSI companies to thrive in the state.
According to Chandan Raj, starting a business in Bihar was the 'worst decision' of his life.
Stay connected to VIESTORIES for more news updates.

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Siliconangle

295

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Lidar chip startup Lidwave closes $10M investment

Lidwave, a lidar chip startup, has closed a $10 million investment in seed funding.
The funding round was led by Jumpspeed Ventures and Next Gear, with participation from other backers.
Lidwave's lidar sensor chip is smaller, operates in adverse weather conditions, and is easier to maintain than traditional systems.
The company plans to use the funding to enhance its technology and invest in go-to-market initiatives.

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Medium

340

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Coming soon! Imporium Multi-Chain Decentralized Exchange

The Imporium Protocol is set to revolutionize the decentralized finance (DeFi) ecosystem.
By pooling liquidity from multiple decentralized exchanges (DEXs), Imporium aims to provide traders, liquidity providers, and developers with optimized trading efficiency and minimal slippage.
Imporium plans to introduce innovative solutions for liquidity management and empower traders and developers with advanced tools.
Stay tuned for the latest updates on Imporium to learn more about their vision for the future of DeFi.

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Medium

192

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How 7hubent Tech Promoted OPay – Fintech for Payments and Ride-Hailing for Free Business…

OPay, a fintech for payments and ride-hailing, partnered with 7hubent Tech for free business advertising.
7hubent Tech's WhatsApp marketing platform provided a strategic and interactive community for businesses.
OPay leveraged 7hubent Tech's platform to promote their brand and engage with potential customers.
7hubent Tech offers free advertising solutions for Nigerian businesses to promote their products and services.

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TechCrunch

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Google signed a deal to power data centers with nuclear micro-reactors from Kairos — but the 2030 timeline is very optimistic

Google has signed a deal with nuclear startup Kairos Power to build seven small reactors to supply electricity to its data centers.
The agreement aims to add around 500 megawatts of carbon-free electricity.
The reactors are expected to come online by the end of the decade.
Kairos is part of a new wave of nuclear startups focusing on small modular reactors to reduce costs and construction time.

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Geek Wire

286

Tech Moves: OpenAI nabs top Microsoft AI researcher; Lime taps Amazon VP as CTO

Sebastien Bubeck, a top AI researcher from Microsoft, is joining OpenAI.
Microsoft has invested over $13 billion into OpenAI and the partnership gives access to cutting-edge AI technology.
Jon Jenkins, formerly from Amazon, has become the new CTO of Lime.
AI researcher Yejin Choi is leaving the University of Washington and the Allen Institute for AI (Ai2) to join Stanford University.

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Medium

192

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The “CoFounder Conundrum”: Choosing the Right Partner or AI

Choosing the right cofounder is crucial for a successful startup, as the relationship is often compared to a marriage.
Having a cofounder with complementary skills and a shared vision is invaluable, but clear agreements around equity and responsibilities are necessary.
Using AI as a strategic partner is becoming a viable alternative, as it can assist with tasks like market research and content creation.
In CoFounder.AI, Clarence Wooten provides guidance on making the cofounder decision and leveraging AI as a co-pilot.

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Medium

241

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Last Week in ConTech — 14 October 2024

ContractsDocument Crunch, an Atlanta startup, raised $21.5m in Series B funding from investors including Navitas Capital and Zacua Ventures. They provide an AI driven contract intelligence platform for the construction industry simplifying construction documents, identifying risks and empowering users in understanding what’s in their construction contracts.
ConcreteSysdyne Technologies, a Connecticut startup, received funding (undisclosed). They have developed an operations platform for the ready mix concrete industry offering services such as quoting with real time data, centralized dispatching, batching processing, delivery management and seamless invoicing.
Giatec, a Canadian startup, received $17.5m in funding. They are developing an AI and IoT sensor enabled platform for the concrete industry. Their sensors provide real time, wireless and long range concrete temperature and strength measurements and their platform uses AI to optimize concrete mixes.
Purpose Green, a Berlin startup, raised $15m in Seed funding. They are developing an end to end solution for energetic retrofits from analyzing building data and creating a Carbon Risk Real Estate Monitor to project managing the implementation of the retrofit managing contractors, procurement and construction supervision.
Paebbl, a Nordic / Dutch startup, raised €22.8m in Series A funding from investors including Holcim. They have developed a way to permanently store CO2 in building materials such as concrete structures.
Gropyus, an Austrian startup, raised $100m in funding. They design and build sustainable, modular apartment buildings that are affordable and customizable using robots in their factory to reduce construction time and labor costs.
Building Radar, a German startup, raised $7.2m in funding. They are developing a platform which automates workflows in construction industry sales including helping sales professionals identify and qualify the most promising leads (it automates research for new projects with daily notifications) and provide insights and personalized outreach strategies.
Vultron, a San Francisco startup, raised $4.85m in Seed funding. They have developed an AI powered proposal development solution for the public sector used by government contractors to help them submit high quality proposals to secure more business.
Wavelogix, an Indiana startup, received $1m in grant funding. They have developed an IoT sensing and data analytics platform including concrete strength sensors which provide real time measurements of in place concrete strength which allows for data driven decision making on scheduling without requiring lab testing.
Kando, an Israeli startup, raised $10m in funding. They have developed a wastewater intelligence solution which is able to target anomalies and empower teams to manage issues such as stormwater overflow in real time.

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TechCrunch

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In memory of Steve O’Hear

Steve O’Hear, a beloved former colleague of TechCrunch, has passed away after a short illness, he was 49.
As a journalist, he brought his A-game every day, producing over 3,210 posts for TechCrunch, breaking tons of stories and writing grand features.
Steve had significant health, mobility, and accessibility issues, being born with muscular dystrophy but remained a productive journalist and an unmistakable voice.
He held a strong entrepreneurial streak and co-founded a semantic Q&A/search platform Beepl while working at TechCrunch.
Steve was an excellent on-stage interviewer, a natural at TechCrunch, collaborating and helping others with their work.
Before joining TechCrunch, Steve traveled to California in search of what made Silicon Valley 'tick', and made a film on his experience.
He was also deeply passionate about music, building audio hardware, and releasing an album with friends.
He later went back into startup land, working for quick commerce player Zapp, eventually founding his communications consultancy called O'Hear and Co.
Steve was a fiercely independent, competitive, and proud journalist, but an exceptional team player and a friend.
It's a huge loss, and he will be deeply missed by his colleagues, friends, his wife Sara, and his family.

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Siliconangle

327

Image Credit: Siliconangle

Omnea raises $25M to streamline procurement with AI

Procurement software startup Omnea has raised $25 million in funding over two rounds.
The most recent investment, a $20 million Series A raise, was led by Accel.
Omnea offers an AI platform that helps enterprises streamline the procurement process.
The platform includes features such as automated supplier matching, risk assessment, and contract management.

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Gritdaily

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Ecobank and Astalia Sanctioned as Octavia Triumphs in DRC Legal Battle

Ecobank has been fined $5.5 million for facilitating illegal financial transactions on behalf of Astalia in the Democratic Republic of Congo (DRC).
This ruling marks a victory for Octavia Mining in their dispute with Astalia over mining assets in the Katanga region.
The court's findings exposed corruption within the DRC's financial system, highlighting the need for greater accountability in international banking.
Political interference and ongoing challenges pose obstacles to asset recovery and foreign investment in the DRC.

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Medium