Good Morning!! As we enter a new week, let’s take a look at the latest trending startup news insights.
06 December, 2021
1. Designers hope hydrogen-powered planes will fly halfway around the world without refueling
One of the toughest nuts to crack when it comes to developing carbon-free transportation is flying. Commercial electric planes won’t be feasible until batteries become more powerful and lightweight. Read More.
2. Berlin’s Everphone raises $200M in debt and Series C equity
Berlin-based smartphone-as-a-service provider Everphone has topped up with $65 million in a Series C equity raise in addition to taking $135 million in debt financing — for a total raise of $200 million. Read More.
07 December, 2021
1. Torq raises $50M Series B for its no-code security automation platform
Torq, a Portland, Oregon-based no-code security automation startup formerly known as StackPulse, today announced that it has raised a $50 million Series B round led by Insight Partners. Read More.
2. Twitter acquires Quill, a would-be Slack rival; the team will work on DMs as Quill shuts down
Twitter has acquired Quill, a business-focused messaging service meant to compete against the likes of Slack and keep people, well, more focused. Read More.
08 December, 2021
1. Volkswagen closes three new partnerships to ramp up EV production
Volkswagen has entered into three new partnerships related to electric vehicle batteries, as the German automaker looks to transition its entire portfolio of cars, trucks, and SUVs to zero-emission vehicles by 2040. Read More.
2. Passbase gets $10M as it refocuses its ID verification tools on crypto
Digital identity startup Passbase, which offers SDKs for running remote identity checks, has raised $10 million in Series A funding as it dials up attention on crypto compliance — touting tools to help fintechs with rapidly evolving regulatory requirements. Read More.
09 December, 2021
1. Razorpay eyes $90 billion TPV by 2022, launches new solutions to enhance payment experience
Fintech major Razorpay said it has seen strong growth in the number of payments processed on its platform, and it expects its total payment volume (TPV) to touch $90 billion by end of next year. Read More.
2. Meesho plans 'price drop' amid e-tail discount scrutiny
Ecommerce platform Meesho, which has raised capital from investors such as SoftBank and Fidelity, has told sellers and suppliers in communication earlier this week that it will give a “price drop” on its own in a sale event. Read More.
10 December, 2021
1. Replit raises $80M at $800M valuation for its browser-based IDE
Replit Inc., the creator of a popular browser-based coding platform with more than 10 million users worldwide, announced that it has closed an $80 million funding round. Read More.
2. Spain moves closer to passing a startup law
Spain’s government has agreed on the details of a draft startup law — passing the baton to the parliament to debate and potentially amend the plan ahead of a vote to turn it into actual law. Read More.
11 December, 2021
1. Ford to triple production capacity for the all-electric Mustang Mach E by 2023
Ford plans to increase production of the all-electric Mustang Mach E next year with the goal of tripling its current capacity by 2023 to meet “incredible demand,” CEO Jim Farley tweeted. Read More.
12 December, 2021
1. This New Startup is Bringing the Metaverse to 1 Billion Devices
As 2021 rounds off, NFT and metaverse narratives continue to dominate headlines. Beginning in relative obscurity at the start of the year, these markets have captured the attention of tech commentators and mainstream audiences alike. Read More.
2. Burrata raises $7.7M seed round to bring Web2 data to Web3
Burrata, a startup working to integrate consumer data from Web2 systems into Web3 (blockchain and the decentralized web), recently came out of stealth and revealed a $7.7 million USD seed round. Read More.
3. An Israeli company says a novel AI device could help prevent adult blindness
A Modi’in Illit-based start-up has recently unveiled what they say is the world’s first AI-based contactless intraocular pressure (IOP) measuring device that allows individuals with glaucoma to measure their eye pressure anytime and anywhere and communicate the results to their doctor. Read More.
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We, at OpenGrowth, are constantly looking for the 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.