XRP is the latest cryptocurrency to hit Coinbase ProOn Tuesday, Coinbase announced that XRP will be the latest cryptocurrency to hit its pro-level trading platform. Coinbase Pro will allow users to transfer XRP to the platform right away (“After 10am on February 25”) but there will be at least a 12-hour delay before trading is enabled. Support for XRP will be available for users in the U.S. (though not those in New York state), the U.K., Canada, Singapore, Australia and the EU. As one of the most controversial cryptocurrencies around, the addition of Ripple’s XRP is sure to stir up the institutional banking coin’s hot-blooded armies of supporters and detractors. The cryptocurrency has faced ongoing criticism for its centralized nature and its perceived lack of use beyond cross-border payments by financial institutions. [ Tech Crunch ] As Lyft’s Public Offering Looms, A Reminder Of Where The Year’s Unicorn IPO Crop StandsTo kick off the week, let’s remind ourselves what we know about unicorn IPOs. As last year came to a close, we asked if 2019 would be the year of the unicorn IPO. Since then several of the growth-oriented firms worth $1 billion or more have filed to go public, have hired bankers, or reported new financial results. [ Crunchbase ] With a $3.5 million haul, Dray Alliance joins a booming logistics startup scene in LAWith an angle on a long-neglected part of the shipping industry — the short haul movement of cargo from docks to logistics centers — Dray Alliance, is launching joining a growing startup scene for logistics businesses based in Los Angeles. With some of the nation’s largest ports in Los Angeles and Long Beach, the Southern California regino is now fertile ground for businesses hoping to tackle what amounts to a trillion dollar industry. [ Tech Crunch ] Y Combinator-Backed Mudrex Helps Non-Coders Create Crypto Trading BotsAfter operating in closed beta for the past few months, Mudrex, which was part of the Y Combinator Winter 2019 batch, is expanding to a wider, global audience. The platform allows crypto traders to automate their trading strategies without writing a single line of code. [ Forbes ] Affirmed Networks Raises $38M in FundingAffirmed Networks, an Acton, MA-based virtualized mobile networks company, raised $38m in its latest funding.This strategic round was led by Centerview Capital Technology with participation from Qualcomm Ventures, Eastward Capital Partners as well as existing investors.The company intends to use the funds to continue to invest in new products and grow its customer base around the globe. [ FinSMEs ] Airbnb, Automattic and Pinterest top rank of most acquisitive unicornsIt takes a lot more than a good idea and the right timing to build a billion-dollar company. Talent, focus, operational effectiveness and a healthy dose of luck are all components of a successful tech startup. Many of the most successful (or, at least, highest-valued) tech unicorns today didn’t get there alone. [ Tech Crunch] SME lender Validus Capital raises $15M for expansion in Southeast AsiaSME lending was a hot topic in Southeast Asia last year, and companies continue to attract investor dollars in 2019. The latest to pull in capital of its own is Singapore-based Validus Capital, which today announced a SG$20.5 million (US$15.2 million) Series B that’ll go toward regional expansion. [ Tech Crunch ] Swedish marketing data startup Funnel raises $8 million from OxxStockholm-based automated marketing data collection and transformation startup Funnel has landed an $8 million funding round led by Oxx, with participation from Balderton, Industrifonden, and Zobito. The company plans to use the money to expand internationally with particular attention to the US market where it’s had an office since 2016. [ Tech.eu ] Recode Daily: Presidential candidate Cory Booker has a love/hate relationship with Silicon ValleyIf any Democratic presidential candidate has tapped into the Silicon Valley zeitgeist over their careers, it is Cory Booker. And in 2019, that could be as much a political liability as it is a financial asset. Although the presidential candidate has collected half a million dollars from the internet industry over his five years in the Senate, he found himself traipsing into a very different fundraising environment when he arrived in Silicon Valley over the weekend. Silicon Valley is itself a minefield that in some ways sums up the broader political challenge for Booker in 2020: He’s running as a liberal on issues including tech regulation, but the progressive left holds him in
suspicion — and he could face more as he begins to court tech money more openly. As one political activist put it: “He’s going to run into problems as the public becomes more aware that he’s in bed with our generation’s Big Tobacco.” [ Re/Code ] HAX launches an accelerator program for senior techHAX today announced the launch of an initiative targeted at helping startups advance the state of tech for people over the age of 65. The program was developed in conjunction with Centrica, the energy company behind the newly launched Hive Link, a smart home service for people with elderly family members. [ Tech Crunch] 90 Seconds Closes US $20 Million Series B with SIG, Airtree and Sequoia India to Grow the Global Video Creation Platform90 Seconds, the global video creation platform, just announced it has raised US$20 million (S$27.1 million) in a Series B funding round from new and existing investors including SIG, Airtree Ventures, Sequoia India, Qualgro Venture Capital, Atami Capital, and Right Click Capital. [ Mar tech series] Raleigh life science firm Bryn Pharma raises $17.2MA Raleigh-based life science company raised $17.2 million in a private equity offering, according to a Securities and Exchange Commission filing. Bryn Pharma LLC filed the form on Feb. 21. It did not disclose what it intended to do with the proceeds. [ Wral tech wire ] Mojio raises $40 million to monetize connected car dataThere will be an estimated 200 million connected cars on the world’s roads by 2020, a number that could rise to nearly 500 million in the U.S., Europe, and China alone by 2025. One of the big by-products of all these connected automobiles is data — location data, diagnostic data, drivers’ behavioral data, and more — which presents a lucrative opportunity for myriad applications and services. [ Venture Beat] The three-year itch: Six ways to help your startup beat the oddsIn 2018, AngelList, the world’s leading startup directory, listed over 8,000 Australian businesses, adding 73 in December alone. With all this talk of hubs, incubators, accelerators, coworking spaces and launchpads, it can seem like everyone’s giving it a go. This is due, in part, to greater access to public and private resources, and to a new culture of entrepreneurialism sweeping the globe. [ Smart Company ] Accurx raises £8.8M Series A for its messaging app for medical teams and patientsAccurx, the U.K. startup and Entrepreneur First alumni that has developed a messaging service for doctor surgeries, has raised £8.8 million in Series A funding, TechCrunch has learned. According to multiple sources, London venture capital firm Atomico has led the round, with participation from LocalGlobe and EF. We first heard a term sheet had been put on the table as far back as mid-January, while it is thought the investment only closed last week. I also understand the round was highly contested, potentially pushing up Accurx’s valuation. One source tells me that Accel was in the running but didn’t end up investing. Both Atomico and Accurx declined to comment. [ Tech Crunch ] Home Depot Invests in Roadie’s $37M Series C To Help Accelerate Product DeliveriesCall it the Amazon effect. Since Amazon launched its two-day prime delivery service in 2005, retailers everywhere have clamored to get their stuff delivered faster in order to compete. Now, The Home Depot has put money into Atlanta-based startup Roadie to make sure its customers can get their orders faster. Roadie’s $37 million Series C round, announced this morning, also included participation from Warren Stephens and Eric Schmidt’s TomorrowVentures. [ Crunchbase ] The 23 most powerful LGBTQ+ people in techThe atmosphere in Silicon Valley, where "bro culture" is rampant, is not known for being kind to anyone "different." That can especially be true for LGBTQ+ identifying individuals, who only gained the right to marry in the US in 2005. Gay marriage is still only legal in around 30 countries. [ Business Insider ] Startups Weekly: Flexport, Clutter and SoftBank’s blood moneyThe Wall Street Journal published a thought-provoking story this week, highlighting limited partners’ concerns with the SoftBank Vision Fund’s investment strategy. The fund’s “decision-making process is chaotic,” it’s over-paying for equity in top tech startups and it’s encouraging inflated valuations, sources told the WSJ. [ Tech Crunch] A Lasting and Enduring GiftWhen I was a teenager, I read many books about Dr. Richard Feynman. The irreverent but kind Nobel prize winner in physics became famous for his contributions to quantum mechanics. Though I’ve never understood quantum mechanics all that well, I’ve always admired Feynman, like many others. [ Tomasz Tunguz] 27 black founders and investors to watch in 2019 |