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TechCrunch
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5 big reasons to attend TechCrunch Disrupt 2024
- The TechCrunch Disrupt conference is one of the most highly anticipated events for startups and VCs alike.
- Disrupt 2024 will be held at Moscone West in San Francisco from October 28-30.
- There will be countless opportunities to meet the right people and elevate your networking game.
- Attendees can engage in engaging conversations with startup leaders and VC investors.
- You can gain invaluable insights from industry heavyweights at the conference.
- Startup Battlefield 200 is one of Disrupt’s signature events where pre-Series-A startups pitch their cutting-edge ideas.
- The winner of Startup Battlefield 200 will take home a $100,000 equity-free prize and the sought-after Disrupt Cup.
- Attendees can participate in 30-minute Roundtable with industry experts or 50-minute Breakout Sessions.
- The ScaleUp Startup Exhibitor Program at this year’s Disrupt will feature a variety of startups across multiple industries showcasing their cutting-edge innovations in the Expo Hall.
- Ticket prices will rise at the door, so be sure to register for the conference today.
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Economic Times
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Byju’s founder says missing millions went to legitimate purpose
- Byju Raveendran, the founder of Byju’s, has denied orchestrating a scheme to fraudulently transfer $533m away from lenders. On the day a judge was set to consider the lenders’ fraudulent transfer claims against his company, Raveendran outlined, for the first time in court, his explanation for what happened to the money. The $533m – which lenders allege was transferred offshore to entities linked to Raveendran – was used for a “legitimate commercial purpose,” Raveendran argued.
- Byju’s received a $1.2bn loan nearly three years ago as it planned to use most of the proceeds on international expansion.
- When Byju’s was unable to reimburse what it owed, a UK-incorporated firm – OCI – provided procurement services for IT equipment and advertising. OCI exercised its “right of set-off” against the Alpha Funds.
- “Neither I, nor any of the founders of T&L (the borrowing unit of Byju’s) has personally received any portion of the Alpha Funds or any of the funds disbursed under the credit agreement,” Raveendran said in the filing.
- The US bankruptcy case is BYJU’s Alpha Inc., 24-10140, US Bankruptcy Court District of Delaware (Wilmington).
- Lenders have long believed that the so-called Alpha Funds represented their best chance of recovering some of the $1.2bn they lent Byju’s.
- The two sides have been fighting in state and federal courts over what happened to the money for more than a year.
- Raveendran claimed the claims of fraud and siphoning of money against him were based on one statement attributed to him and that he never said that the lenders would never find the money.
- The funds, he said, were to be used for their intended purpose, international expansion.
- The $533m that lenders are trying to track down was used for a “legitimate commercial purpose,” according to Raveendran.
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Economic Times
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TCS to set up IT facility housing 10k employees in Andhra Pradesh: Nara Lokesh
- Tata Consultancy Services (TCS) plans to set up an IT facility in Andhra Pradesh with a capacity to accommodate 10,000 employees.
- The announcement was made by Nara Lokesh, the state's cabinet minister for Human Resources Development, Information Technology, Electronics, and Communication.
- Lokesh stated that the investment by TCS is a significant step towards making Andhra Pradesh India's No. 1 state for business.
- He also hinted at a big announcement after meeting with Tata Sons Chairman N Chandrasekaran.
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Medium
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Decoding Founder Potential: Using AI to Evaluate Unicorns
- Investments in the pre-seed phase often rely on the founder's potential.
- AI could assist in evaluating founder potential by analyzing eye movements and physiological reactions.
- Integrating Affective Computing can help assess a founder's emotional and mental resilience.
- Understanding emotions through AI can lead to more informed investment decisions.
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Futurefundraisingnow
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How long should your fundraising story be?
- Fundraising stories should be concise and focused on supporting the case for donating.
- The primary purpose of fundraising stories is to communicate strong emotion and touch the hearts of potential donors.
- The story about the donor and how they can make a specific and wonderful impact should be the main focus of the fundraising message.
- The rest of the letter should include descriptions of what the donor's giving can accomplish, appeals to the donor's values, compliments to the donor, reasons for giving right away, and repeated asks.
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TechCrunch
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Levy Health wants to help women identify fertility issues sooner
- Levy Health has developed a clinical decision support platform to help diagnose fertility issues in women earlier.
- The platform collects information from users through questionnaires and lab work, and analyzes it to narrow down potential diagnoses.
- Levy Health has reduced the time to diagnosis by 50% through this process.
- The company has raised $4.5 million in seed funding and plans to use it for further development and clinical studies.
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Inc42
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Gemba Capital Ropes In Pratilipi Cofounder Ranjeet Pratap Singh As Advisor
- Gemba Capital has appointed Ranjeet Pratap Singh, cofounder and CEO of Pratilipi, as its consumer tech venture advisor.
- Singh will assist Gemba Capital in evaluating consumer tech deals and mentoring portfolio companies.
- Gemba Capital plans to invest in 30 seed and pre-seed stage startups in fintech, consumer tech, and B2B platforms.
- Seed stage funding in the Indian startup ecosystem has seen strong growth, surging 126% to $360 Mn in Q3 2024.
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Geek Wire
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Wokelo raises $4M for AI-driven due diligence, sees customer traction in M&A, investing and consulting
- Seattle-area AI startup Wokelo raises $4 million in a seed round to develop and expand its AI technology for generating due diligence reports.
- Investors in the round include Array Ventures, Geek Ventures, KPMG Ventures, Rebellion Ventures, Ahead VC, and Perpetual Venture Capital.
- Wokelo's platform automates the collection and analysis of data from various sources to generate detailed reports for acquisitions, investments, and strategic decisions.
- With over 35 customers, Wokelo focuses on private markets, aiming to reduce manual research and provide deep insights for its clients.
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Alleywatch
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The AlleyWatch September 2024 New York Venture Capital Funding Report
- The average Seed round in NYC for September was $3.6M
- $107.0M was invested across early stages rounds in NYC in September
- The average Series A round in NYC for September was $11.0M
- $231.4M was invested across Series A rounds in NYC in September
- The average Series B round in NYC for September was $25.9M
- $284.4M was invested across Series B rounds in NYC in September
- The average late-stage round in NYC for September was $31.8M
- $158.8M was invested across late-stage rounds in NYC in September
- $781.7M was invested in NYC #startups in September in NYC across 67 deals
- NYC VC funding in September was -15.2% from last month and +17.1% from the same period last year
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TechUniverses
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Creative Ways To Add Metal Features Into Your Home Design
- Metal features can make a bold statement in any space.
- Reflective backdrops like metallic wallpaper or stainless steel backsplash can provide beautiful spotlight in any room.
- Antique metallic furniture is a budget-friendly way to add one-of-a-kind pieces in living or bed room.
- Making appliances, radiators, and storage solutions part of metal design can be a good idea to make them visually appealing.
- Metal can be combined with other textiles to create a great contrast and cohesive look to any space.
- Exposed frames and inner workings can be repainted with a metallic finish or enhanced with lighting to create a dreamy steampunk aesthetic.
- Decorative yet functional accents such as statement lighting and wrought iron railings add a great touch to metallic design.
- Mix and match warm and cool metals like bronze, gold and chrome to create balance in any room.
- Get playful with metal design and experiment with what speaks to you, there are no hard and fast rules to home design.
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The Robot Report
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Premier Automation launches Premier Labs, a venture studio for industrial robots and AI
- Premier Automation has announced the launch of Premier Labs, a venture studio focused on building businesses that utilize automation, robotics, and AI to address industry challenges.
- Premier Labs will leverage the expertise and resources of Premier Automation, including its 150 employees and access to a diverse range of customers.
- The venture studio model has seen significant growth in recent years, and Premier Labs aims to build startups from the ground up, providing start-up capital, in-house residency, and access to Premier Automation's network.
- Premier Labs is already working on commercial opportunities in metals production, manufacturing controls, and food service and is open to collaboration with manufacturing professionals, innovators, and investors focused on industrial automation.
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Hackernoon
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Startups of The Year 2024: 1,233 Startups Nominated in São Paulo, Brazil
- HackerNoon announces nominees for annual "Startups of The Year" award in São Paulo, Brazil.
- The list includes 30 startups making significant contributions to the São Paulo economy and driving innovation.
- Startups nominated include AQUi9, Violet, Workhub Digital, and more.
- The winners will receive free interviews and a featured page on HackerNoon.
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Insider
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Business Insider is seeking nominations for the 2024 rising stars of venture capital
- Business Insider is seeking nominations for the 2024 rising stars of venture capital.
- Insider is putting together a list of the best up-and-coming venture capitalists of 2024.
- They are looking for US-based VCs skilled at dealmaking at both large and small funds.
- Nominations can be submitted via an online form until October 25.
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TechCrunch
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Zap Energy shows off its new fusion power prototype, Century
- Zap Energy has created a new device for fusion power known as sheared-flow-stabilized Z-pinch.
- With a $130m Series D fundraise, the startup recently gave TechCrunch an insight into its Century prototype.
- The device sends a bolt of electricity through a plasma stream, rather than a laser or magnet.
- The company has previously studied the phenomenon through a series of devices at its facilities in Washington.
- The company’s commercial-scale module, which should produce 50-megawatts of electricity, will occupy a similar footprint.
- The prototype needs to hit three milestones to remain on track to a commercial power output.
- First, Zap needs to generate high-voltage pulses frequently and continuously.
- Next, it needs to demonstrate the technology for the US Department of Energy.
- Lastly, the company needs to ensure that its electrodes can withstand the heat and particles unleashed by each fusion reaction.
- Century has already fired 1,080 consecutive pulses in its initial tests.
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ISN
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LC Nueva Investment Partners launches new fund to invest in 10-15 high-growth startups
- LC Nueva Investment Partners launches the LC Nueva Momentum Fund with a target corpus of Rs 150 crore ($18 million) and an additional greenshoe option of Rs 100 crore ($12 million).
- The fund aims to support 10-15 startups at the Series A and B stages and will focus on reinvesting in startups that have demonstrated growth and improved operational performance.
- LC Nueva Momentum Fund will explore adjacent market opportunities and secondary market investments, with a particular focus on the Indian secondary market.
- The trend of institutional secondary investors purchasing private secondary portfolios is accelerating rapidly in India, with a significant rise in portfolio secondaries observed.
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