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SpaceX launches 60 new Starlink satellites, while Starship moves closer to being able to launch up to 400 at a time - techcrunch

SpaceX launches 60 new Starlink satellites, while Starship moves closer to being able to launch up to 400 at a time

SpaceX has launched another batch of its Starlink satellites – the usual complement of 60 of the low Earth orbit spacecraft, which will join the more than 1,000 already making up the existing constellation. This is the fifth launch of Starlink satellites for SpaceX this year, and the 20th overall. Earlier this year, SpaceX opened up […]
techcrunch - 52 minutes ago
Hopin confirms $400M raise at $5.65B valuation - techcrunch

Hopin confirms $400M raise at $5.65B valuation

This morning Hopin, a virtual events platform and video-focused software service, announced that it has closed a $400 million Series C. The new capital values Hopin at $5.65 billion. Both numbers match prior TechCrunch reporting that the company was targeting a $400 million raise at a valuation of between $5 billion and $6 billion. Andreessen […]
techcrunch - 54 minutes ago
Wipro to buy London’s tech consultancy firm Capco for $1.45 billion - techcrunch

Wipro to buy London’s tech consultancy firm Capco for $1.45 billion

Wipro said on Thursday it has reached an agreement to buy 20-year-old British tech consultancy firm Capco for $1.45 billion as the Indian consultancy giant looks to win customers in Europe and Asia. The Indian firm, which identifies U.S. as its biggest market, said it expects to close the deal — pending regulatory approvals — […]
techcrunch - 1 hour ago
Boss of Chinese gaming titan NetEase calls for shared parental leave - techcrunch

Boss of Chinese gaming titan NetEase calls for shared parental leave

China’s relaxation of its one-child restriction has not delivered the population targets set by its policy planners. In 2019, the birth rate in China slumped to a seven-decade low, which experts attribute to changes in social attitudes, skyrocketing living costs as well as a demanding work culture. One way to fix China’s demographic crisis is […]
techcrunch - 2 hours ago
GAannotations automates contextual data for Google Analytics annotations - venture beat

GAannotations automates contextual data for Google Analytics annotations

Despite many pretenders to its throne, Google Analytics continues to dominate the web and marketing analytics sphere for small and enterprise-grade businesses alike. But popularity or omnipresence doesn’t mean that it’s the perfect tool for the job in hand — there is always room for improvement. Over the years, many Google Analytics users have requested […]
venture beat - 2 hours ago
Deliveroo confirms anticipated £8bn floatation in London, will be among first to use ‘dual shares’ structure - techcrunch

Deliveroo confirms anticipated £8bn floatation in London, will be among first to use ‘dual shares’ structure

Food delivery start-up Deliveroo has today confirmed its £8bn ($11bn) stock market floatation in London, something which was on the cards previously. The eight-year-old company will use the “dual-class” innovation which has been introduced to the London Stock Exchange by the UK government in a bid to keep UK companies from being lured over to […]
techcrunch - 3 hours ago
IFC backs Bolt with $24M to expand its transportation network in emerging markets - techcrunch

IFC backs Bolt with $24M to expand its transportation network in emerging markets

Bolt, an Uber competitor that is building an international on-demand network of services to transport people, food and other items in cars, scooters and bikes across Europe and Africa, has picked up some strategic funding today to continue expanding its business in emerging markets. The International Finance Corporation, a division of the World Bank, is […]
techcrunch - 3 hours ago
Countingup closes £9.1M for its business current account with built-in accounting features - techcrunch

Countingup closes £9.1M for its business current account with built-in accounting features

Countingup, the U.K. fintech offering a business current account with built-in accounting features, has closed £9.1 million in Series A investment. Leading the round is Framework Venture Partners, with participation from Gresham House Ventures, Sage and existing investors. It’s noteworthy that Countingup has previously taken investment from ING, and the addition of Sage as a […]
techcrunch - 5 hours ago
WhatsApp rolls out voice and video calls to desktop app - techcrunch

WhatsApp rolls out voice and video calls to desktop app

WhatsApp is rolling out support for voice and video calling to its desktop app, the Facebook-owned messaging service said Thursday, providing relief to countless people sitting in front of computers who have had to reach for their phone every time their WhatsApp rang. For now, WhatsApp said its nearly five-year-old desktop app for Mac and Windows […]
techcrunch - 5 hours ago
Payfazz invests $30M in Xfers as the two Southeast Asian fintechs form Fazz Financial Group - techcrunch

Payfazz invests $30M in Xfers as the two Southeast Asian fintechs form Fazz Financial Group

Payfazz and Xfers, two startups that want to increase financial inclusion in Southeast Asia, announced today they have joined forces to create a new holding entity called Fazz Financial Group. As part of the deal, Payfazz, an agent-based financial services network in Indonesia, invested $30 million into payments infrastructure provider Xfers. Based in Singapore, Xfers […]
techcrunch - 5 hours ago
Indian state government website exposed COVID-19 lab test results - techcrunch

Indian state government website exposed COVID-19 lab test results

A security flaw in a website run by the government of West Bengal in India exposed the lab results of at least hundreds of thousands of residents, though likely millions, who took a COVID-19 test. The website is part of the West Bengal government’s mass coronavirus testing program. Once a COVID-19 test result is ready, […]
techcrunch - 9 hours ago
Gillmor Gang: Off The Record - techcrunch

Gillmor Gang: Off The Record

Of all the gin joints etc. etc. Clubhouse continues to confound those who don’t believe in the restorative powers of the Next Big Thing. It doesn’t make sense, they say, that an audio service based on live podcasts will change the course of human history, And they are right. Social computing is in the doghouse […]
techcrunch - 11 hours ago
Mary Meeker’s Bond is closing on $2 billion for its second fund, per a new filing - techcrunch

Mary Meeker’s Bond is closing on $2 billion for its second fund, per a new filing

Bond, the growth-stage firm that spun out of the Kleiner Perkins Digital Growth Fund in late 2018, is closing a second fund with $2 billion, suggests a new SEC filing that says the amount has not yet been raised, though investment firms sometimes file their paperwork at the final stages of their fundraising and even […]
techcrunch - 12 hours ago
Revolut lets customers switch to Revolut Bank in 10 additional countries - techcrunch

Revolut lets customers switch to Revolut Bank in 10 additional countries

Fintech startup Revolut has its own banking license in the European Union since late 2018. It lets the company offer some additional financial services without partnering with third-party companies. And the company is going to let customers switch to Revolut Bank in 10 additional countries. The Bank of Lithuania has granted a specialized license — […]
techcrunch - 13 hours ago
SpaceX’s Starship prototype flies to 32,000 feet and sticks the landing in third flight test - techcrunch

SpaceX’s Starship prototype flies to 32,000 feet and sticks the landing in third flight test

SpaceX has launched SN10 – the tenth iteration of its current prototype series of Starship, the heavy-lift reusable spacecraft it’s developing. Starship SN10 took off from Boca Chica, Texas, where SpaceX is developing the vehicle. It flew to a height of roughly 10 km or 32,000 feet, before performing a maneuver to re-orient itself for […]
techcrunch - 13 hours ago
Daily Crunch: Google swears off ad-tracking - techcrunch

Daily Crunch: Google swears off ad-tracking

Google says it’s focusing on privacy-friendly approaches to ad targeting, Okta acquires Auth0 and a flying taxi startup raises $241 million. This is your Daily Crunch for March 3, 2021. The big story: Google swears off ad-tracking While Google had already announced it would be phasing out support for third-party cookies in Chrome, it went […]
techcrunch - 14 hours ago
Bank of America is bringing VR instruction to its 4,000 banks - techcrunch

Bank of America is bringing VR instruction to its 4,000 banks

As consumer VR begins to have a moment following years of heavy investment from Facebook and other tech giants, corporate America is similarly beginning to find more utility in the technology, as well. Bank of America announced today that they’ll be working with Bay Area-based VR startup Strivr to bring more of their workplace training […]
techcrunch - 15 hours ago
Twitter tests new e-commerce features for tweets - techcrunch

Twitter tests new e-commerce features for tweets

Twitter confirmed it’s testing a new way to display tweets that link out to e-commerce product pages — like products on a Shopify store, for example. With a new Twitter card format, the company is experimenting with tweets that include a big “Shop” button and integrate product details directly into the tweet itself, including the […]
techcrunch - 15 hours ago
Okta acquires cloud identity startup Auth0 for $6.5B - techcrunch

Okta acquires cloud identity startup Auth0 for $6.5B

As Okta announced earnings today after the bell, it revealed that it’s buying cloud identity startup Auth0 for a hefty $6.5 billion. With Auth0, Okta gets a cloud identity company that helps developers embed identity management into applications, adding an entirely new dimension to its identity platform. “Today, we’re taking a significant step forward — […]
techcrunch - 15 hours ago
Amazon launches reinforcement learning tools to manage robots’ workflows - venture beat

Amazon launches reinforcement learning tools to manage robots’ workflows

Amazon today launched SageMaker Reinforcement Learning (RL) Kubeflow Components, a toolkit supporting the company’s AWS RoboMaker service for orchestrating robotics workflows. Amazon says that the goal is to make it faster to experiment and manage robotics workloads from perception to controls and optimization, and to create end-to-end solutions without having to rebuild them each time. […]
venture beat - 15 hours ago
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techcrunch
New European early stage VC Revent launches with its sights set on a $60M first close

New European early stage VC Revent launches with its sights set on a $60M first close

techcrunch - 2 weeks ago

Revent a new European early stage (pre-seed to series A) venture capital fund with an impact focus is coming out of the gate today, and is poised to reach its target of a 50m ($60m) fund, with the first close of that already completed. Focusing on environmental and societal problems, Revent will be looking to fund startups with both purpose and profit. Headquartered in Berlin and investing across Europe it will hone in on companies in Climate-Tech, health and wellbeing, and economic empowerment.

The founding partners are Otto Birnbaum, who was previously with French VC Partech, but also worked at HelloFresh; Dr. Lauren Lentz formality of McKinsey and an expert in impact measurement; Emily Brooke MBE, founder of Beryl, a micromobiilty startup; and Henrik Grosse Hokamp who worked previously for Partechs late-stage fund.

Revent’s founder LP is Benjamin Otto, managing Partner at the Otto Group. Otto is part of the influential and powerful Otto family in Hamburg, founders of the Otto Group. Benjamin Otto also backed the launch of two other German VCs, e.ventures and Project A. Other investors in the fund include Max Tayenthal (N26), Sascha Konietzke (Contentful), Verena Pausder (Fox & Sheep), Luis Hanemann (e.ventures), Benjamin Roth (Urban Sports Club) and Dr. Florian Heinemann (Project A).

Revent has so far made four investments: Tomorrow Bank, a sustainable challenger bank based in Hamburg; Sylvera, a London-based company that developed AI-enabled monitoring of nature-based carbon offsetting projects; Tmrow, a Denmark-based team building technology products for consumers and companies to understand and reduce their carbon footprint; and net purpose, an impact datastream for asset managers to understand the quantitative net impact of their portfolio, acting like a Bloomberg terminal of impact.

Commenting on the launch, Otto Birnbaum, Revent General Partner said: “Were not acting as philanthropists, but rather aim to demonstrate that achieving very attractive financial returns is possible precisely because of the positive impact these companies will achieve.”

Benjamin Otto, Revent Anchor Investor said: Social and ecological challenges have reached a new level of urgency. We depend on entrepreneurial innovation to find new solutions. With Revent, we want to create a platform for founders that not only provides them with optimal support but also contributes to a change in mindset: Entrepreneurial success and social-ecological impact can reinforce each other.”

Speaking to TechCrunch, Brooke and Lentz said the purpose economy has been accelerated by the Covid pandemic, which has amplified many of the planet’s systemic problems, such as inequality of access to healthcare, EdTech, creating massive changes in the world of work. Their mission, they tell me, is to positively affect the lives of 1 million people and to abate 5 million tons of C02. In order to achieve this, the fund will link fund carry to its impact goals.

They also say they are seeing a new wave of founders who want to tackle these problems. While overall VC investment is up only by about 2%, investment in impact spaces such as ed-tech and mental health is booming.

As Brooke told me on a call: We want to build a new version of venture capital, that authentically and genuinely prioritizes environmental returns and societal returns, along with commercial.

Lentz said: We think that there is this generation of founders who are looking for an investor who really brings both financing and an impact mindset. So not a classical impact-first impact investor, or a classic VC that is only looking at the growth trajectory and the financial upside returns. And we think that this founder is looking for an investor who really believes that these two things reinforce each other, and that the returns are going to be generated by positive societal impact, and that there needs to be a European home for this kind of founder.

The main question is, how are they going to measure the impact?

Lentz said: We view this holistically, and we start very early, so when we’re in diligence we go through a structured process of basically trying to assess the team, the founder DNA, how committed are they to achieving positive impact. We’re investing very early, usually pre-product, so we need to understand what is the motivation for this team. And then we try to systemically look at the different dimensions of impacts or how deep the impact, how many people will they reach, what additionality are they offering. We go through a structured exercise during the due diligence. And then we do something a bit unique which is we do an impact forecast. And so before we pull the trigger and invest we basically take what the founders have told us, and what we have learned through our conversations about possible growth trajectories, and we try to make some estimates and assumptions around the depth of the impact that the company will have. So it might be how much carbon do we think that the company will be able to beat or avert over the next eight years, or how many lives would they be able to significantly affect and to what extent… We’re not building a 20,000 line model, but we are trying to put some rigour around what we expect to happen on the impact side. Only if we anticipate that the company is going to have very significant potential upside from a commercial point of view and also very significant impact upside would we invest.”

sauce: techcrunch
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