Startup News: 12th October 2020 - 18th October 2020

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Here are the latest week news updates about startups. Discover whats on hot list, who's racing and raising.

 

12th October, Monday

 

1. Egyptian fintech startup NowPay raises $2.1m seed round to expand team, footprint - Disrupt Africa

NowPay is a financial wellness platform for emerging markets, which allows employees to access their salary at any point. Cairo-based fintech startup NowPay has raised a US$2.1 million seed funding round to deepen the capabilities of its platform and expand. Read more.

 

2. Nag Studios nets $1 million to create esports games

Swedish startup Nag Studios has secured $1 million in pre-seed funding to develop esports games. This finding will allow Nag to expand its team with a variety of new hires. Read more.

 

3. Yotascale raises a $13M Series B to help companies track and manage their cloud spends

Yotascale reported 4x year-over-year annual recurring revenue (ARR) growth at some point this year, though Razzaq was diffident about sharing specifics concerning the metric. Read more.

 

4. Mental Health Telemedicine Company Cerebral Completes $35 Million Series A Funding Round

The mental health telemedicine company Cerebral recently turned heads with a $35 million Series A funding round, just nine months after launching. Read more.

 

13th October, Tuesday

 

1. Evergrande Seeks $1.1 Billion From Share Sale to Repay Debt

China Evergrande Group is seeking as much as HK$8.43 billion ($1.09 billion) in a share placement, accelerating efforts to shore up ..read more , click on link.

 

2. Americold Realty To Buy Agro Merchants From Oaktree Capital For $1.74 Billion

Americold expects this transaction to expands its strategic footprint into Europe and positions it to more effectively serve multinational customers on a global scale. Explore more on this, click to read.

 

3. TeaMonk raises ₹6.5 crore from Inflection Point Ventures

The premium tea brand company has raised ₹23.5 crore so far further market expansion in global markets like the US, the UK and Canada. Discover full story, click to read.

 

4. Caliber, with $2.2 million in seed funding, launches a fitness coaching platform

Caliber launched in 2018 with a content model, offering an email newsletter and a library of instructional fitness content. Launching a brand new digital coaching platform on the heels of a $2.2 million seed round led by Trinity Ventures. Read more.

 

5. Landscape site launches with the aim of becoming the 'Glassdoor for VC'

Landscape, a new review platform for tech startup founders to discover and find investment opportunities. Landscape clocked-up approximately 700 reviews and has garnered 83 “Verified Partners” on the platform. Read more.

 

14th October, Wednesday

 

1. Engageli launches with $14.5 million to bring digital learning to universities

A new digital education platform has emerged from stealth today with $14.5 million in seed funding and an impressive roster of founders. Palo Alto-based Engageli is launching its pilot program amid the rapid shift to remote learning ushered in by the pandemic. Read more.

 

2. Plenty has raised over $500 million to grow fruits and veggies indoors

Plenty‌ ‌Unlimited‌ raised $140 million in new funding to build more vertical farms around the U.S.The company also announced plans to build a new farm in Compton, California. Read more.

 

15th October, Thursday

 

1. Stripe acquires Nigeria's Paystack for $200M+ to expand into the African continent

The funding was to expand its API-based payments services into more geographies. It is coming good on that plan in the form of some M&A. It is the biggest startup acquisition come out of Nigeria. Read to discover details.

 

2. Bipedal robot developer Agility announces $20M raise

Agility plans to use of funding to deliver more of their robots for a variety of different applications.Help to fulfil the demand from logistics providers, e-commerce retailers and other businesses where automation or challenging physical fitness requires for work. Explore more.

 

3. Whisper announces $35M Series B to change hearing aids with AI and subscription model

The startup has raised a total of $53 million to build the hearing aid system that it is announcing today.Whisper hearing aids works wirelessly with the earpieces to enable a proprietary AI-based Sound, and there more lot to discover,read here. Read More.

 

4. Array Technologies Stock Pops 66% in Expanded IPO

Array makes solar trackers, which move panels during the day to maintain optimal orientation to the sun. Array raised $1 billion late Wednesday, boosting the size of its deal to sell 47.5 million shares at $22 each. Discover more on this, click on the link.

 

5. Spain’s Savana Medica raises $15 million to bring to the US its AI toolkit turning clinical notes into care insights

Savana, founded in Madrid in 2014, the company is relocating to New York and is already working with the world’s largest pharmaceutical companies and more than 100 healthcare facilities. Read more.

 

16th October, Friday

 

1. Kitchener to launch new $110M economic fund

Kitchener plan to set up a new $110 million investment fund to support the city’s economic recovery from the global pandemic. Explore more, read here.

 

2. Zomato raises Rs 380 crore from US-based Kora Investments

Zomato’s valuation has been fixed at $3 billion. It reportedly raised an additional amount of Rs 380 crore from US-based Kora Investments. Get into the details, read here.

 

17th October, Saturday

 

1. Prestige Estates signs deal with Blackstone for stake sale in firm's assets

Prestige Estates is looking to sell the assets to lessen debt and accelarate liquidity through the Blackstone deal.Blackstone is the largest office owner in the country, with real estate assets worth $20 billion in the country. Explore more on this , read here.

 

We, at OpenGrowth, are constantly looking for latest news in the startup ecosystem. If you want to share any important news from last week, then do let us know in the comment section below.

 

News Curated by: Priya Nath

Priya is an enthusiastic person who believes in gender equity and social impact. She has a keen interest in startups. Her passion includes owning innovative gadgets, networking and psychology.

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About the author:

Editor , OpenGrowth Content Team

The Editorial Team at OpenGrowth is working to provide you with the perfect place to know everything about startups. Feel free to connect to us.


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