Startup News: 23rd Aug 2021 - 29th Aug 2021

Good Morning!! As we enter a new week, let’s take a look at the latest trending startup news insights.

23rd August, 2021

1. Blockchain startup XREX gets $17M to make cross-border trade faster

Blockchain startup XREX was launched to help cross-border businesses in emerging markets perform faster transactions with products like a payment escrow service and crypto-fiat exchange platform. Read more

2. PayPal launches crypto buying and selling in the UK

California-based PayPal allow customers in the UK to buy, sell and hold bitcoin and other cryptocurrencies. Customers will be able to buy bitcoin, ether, litecoin and bitcoin cash through their PayPal wallets online or on the mobile app. 

3. Paytm and HDFC Bank enter into strategic partnership

IPO-bound Paytm, the country’s extensive payments platform, and HDFC Bank, the largest private sector bank, have entered into a strategic partnership. Read more

24th August, 2021

1. Automotive startup Upstream raises $62M Series C to scale cloud-based security

Israel-based Upstream announced a Series C funding raise of $62 million that it will use to bolster its automotive cloud-based security to ensure remote hacks like this don’t happen. Read more

2. NBA All-Star Chris Paul joins digital media startup Greenfly’s growth round

Greenfly will continue to build a workflow around events that provides sourcing, creation and automated distribution of photos and short-form videos created for social media. 

25th August, 2021

1. Linktree partners with PayPal to allow users globally to accept direct payments

Linktree, the popular ‘link in bio’ service, is partnering with PayPal to expand ‘Commerce Links,’ a direct payment tool on Linktree that was recently introduced worldwide. Read more

2. Vietnam after-school learning startup Marathon raises $1.5M pre-seed round

The company plans to use the fresh funding to acquire high-quality tutors, hire an engineering team and build infrastructure. Marathon seeks to connect tutors with K-12 students on its platform. Read more

26th August, 2021

1. A $2 billion fintech startup has become Africa’s fastest unicorn

OPay has gone from a curious startup known for its motorcycles in Lagos, Nigeria, to a financial services company worth $2 billion. OPay provides individuals with a point-of-sale machine and underlying software, read more.

2. Meet SquarEat, a Startup Whose Innovation Turns Food Into Nutrient Cubes

Food-tech startup called SquarEat, customers will be eating regular amounts of food, regularly, but in cube form.Read more

3. Zendesk acquires customer service automation startup Cleverly.ai

Zendesk says it will integrate Cleverly’s technology across its existing products, enabling teams to automate more processes while keeping up with customer demand. 

4. Gap acquires virtual fitting room startup Drapr

Gap Inc. (GPS -4.6%) acquires Drapr, an online application startup that lets customers design 3D avatars and virtually try on clothing. Read more

27th August, 2021

1. Edtech startup Camp K12 raises $12 million in Series A round

Edtech startup Camp K12 has raised $12 million in a Series A. The company said it has seen explosive growth in two new geographies, one new subject category, and a new group-class format launched over the past 6 months. Read more

2. Popcorn’s new app brings short-form video to the workplace

Popcorn, on the other hand, lets you create the short video and then send a URL to that video anywhere you would want to add a personal touch to your message. Read more

3. Apple invests in biotech startup SweetBio and VC firm VamosVentures through REJI

As part of Apple’s recently launched Racial Equity and Justice Initiative (REJI), the company has invested a collective $50 million into a number of firms that focus on Black- and Latinx-owned businesses, including VamosVentures. Read more

28th August, 2021

1. Rivian files for IPO, $80 billion target is 350 times Tesla's IPO valuation

The IPO will almost surely come after Rivian’s first deliveries of its R1T electric pickup and R1S electric SUV to individual customers, expected in September. Rivian also builds an electric van for Amazon. Read more

2. Morgan Stanley Selects 8 Startups for 6th Cohort of Multicultural Innovation Lab

Morgan Stanley launched the MCIL in 2017 in order to address inequities in funding of multicultural and women-led startups. The Multicultural Innovation Lab (MCIL) is an intensive five-month accelerator designed to help further develop and scale startups, read more.

29th August, 2021

1. India Mapmaker Powering Apple Maps, Amazon Alexa Looks to IPO

Digital mapping company MapmyIndia, whose data powers Apple Inc.’s Maps and Amazon.com Inc.’s Alexa in India, will file initial public offering shortly. Read more

2. Confusion brews as retro-style EV startup Alpha Motor turns on the charm

The electric vehicle startup Alpha Motor Corporation posted a video this week that showed the “launch” of its Alpha Wolf electric pickup concept. Read more

If you missed out the previous week or entire month updates of startup world news, follow the link to read it now and stay updated with every passing update with us.

Startup News: 16th Aug 2021 - 22nd Aug 2021

Startup News: 9th Aug 2021 - 15th Aug 2021

Startup News: 2nd Aug 2021 - 8th Aug 2021

Startup News: 26th July 2021 - 1st Aug 2021

Startup News: 19th July 2021 - 25th July 2021

Startup News: 12th July 2021 - 18th July 2021

Startup News: 5th July 2021 - 11th July 2021

Startup News: 28th June 2021 - 4th July 2021

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.