Tags: Startup news, Startup global, funding, mergers, acquisitions
Missing out on updates from the startup scenes around the globe? - We got you covered! This podcast will provide a 5 minute highlight reel of all that happened in the startup ecosystem last week.
This podcast will provide a 5 minute highlight reel of all that happened in the startup ecosystem last week. So let’s begin with the news around funding.
So, guess what? This week’s startup funding scene has been quite great. We are talking about a total of 330 funding rounds, $6.7 billion total funding, 99 acquisitions recorded, and a transaction of a total acquisition amount of $7.3 billion. That being said, let’s dive right into the highlights.
Gokada a Nigeria based ride-hailing startup raises $5.3M
In many large cities across Africa, motorcycle taxis are the most common mode of shared transport.
That includes Lagos, Nigeria, where ride-hail startup Gokada has raised a $5.3 million Series A round to grow its two-wheel transit business. Gokada has trained and on-boarded more than 1,000 motorcycles and their pilots on its app that connects commuters to moto-taxis and the company’s signature green, DOT– approved helmets. The startup has completed nearly 1 million rides since it was co-founded in 2018 by Fahim Saleh — a Bangladeshi entrepreneur who previously founded and exited Pathao, a motorcycle, bicycle and car transportation company.
Zero raises $20 million from NEA and others for a credit card that works like debit
Just ahead of the launch of the Apple Card, a startup that has its own take on modernizing the credit card industry, Zero, is announcing the close of its $20 million Series A. The new round of funding was led by New Enterprise Associates (NEA), and brings Zero’s total raised to date to $35 million, including both equity and debt funding.
Today, only 33% of millennials have a major credit card, a Bankrate survey found — largely because they’re wary of falling into the vicious debt cycle. Instead, this younger demographic often only carries a debit card. But that also means they’re missing out on credit card benefits — like points, rewards and cash back.
Zero’s idea is to offer a rewards credit card that works like debit.
The Zerocard itself is a World Mastercard, so it earns credit card cash back. But unlike a traditional credit card, it’s combined with an FDIC-backed checking account called Zero Checking. That means Zerocard and Zero Checking work together in the app, allowing cardholders to see one net number they can spend from.
Hunters.ai raises $5.4M for its autonomous threat-hunting solution
Hunters.ai, a Tel Aviv-based startup that built an AI-based threat-hunting solution, today announced that it has raised a $5.4 million seed funding round led by YL Ventures and Blumberg Capital.
Sofar Sounds house concerts raises $25M.
Sofar Sounds announced it’s raised a $25 million round led by Battery Ventures and Union Square Ventures, building on the previous $6 million it’d scored from Octopus Ventures and Virgin Group. The goal is expansion — to become the de facto way emerging artists play outside of traditional venues. The 10-year-old startup was born in London out of frustration with pub-goers talking over the bands. Now it’s throwing 600 shows per month across 430 cities around the world, and more than 40 of the 25,000 artists who’ve played its gigs have gone on to be nominated for or win Grammys.
What else caught our eyes last week?
Well, I mean anything bitcoin needs a mention. So, ya CoinBits launches as a passive investment app for bitcoin. Finman, who built his first company while still in high school, is launching a new startup called CoinBits, which allows users to passively invest in bitcoin. The idea, according to Finman, is to democratize access to the currency by letting everyday folks invest nominal sums through well-known mechanisms like roundups on transactions made with a credit or debit card or through regular transactions from a customer’s savings or checking account to bitcoin through CoinBits.
That’s pretty great.
The next thing I want to bring to your notice is this recent hike in non-alcoholic beverage startups around the world. In their recent article, TechCrunch talks about how millennials, according to various studies, are consuming less alcohol than previous generations and are therefore seeking non-alcoholic beverage alternatives.
For example, we have Seedlip, a non-alcoholic spirits company. Or Haus, launching this summer, an all-natural beverage distilled from grapes that has a lower alcohol content than most hard liquors. Haus, like any good consumer startup in 2019, is shipped directly to your door.
Perhaps the most noted so far is Liquid Death, canned water for the punk rock crowd, I mean why not? I’m loving this trend. Liquid Death has attracted nearly $2 million in funding from angel investors like Away co-founder Jen Rubio and Twitter co-founder Biz Stone.
Then you have Bev, a canned wine business that recently raised $7 million in seed funding from Founders Fund, thinks marketing in the alcohol industry is the problem. Founder Alix Peabody designed a line of female-focused canned rosé. Peabody explained most alcohol brands cater to men, and that’s a problem.
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