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Hello and welcome to Daily Crunch for Monday, February 28, 2022. Today we’re bringing back the exclamation marks. Because it’s Monday, we need a boost, and a startup with a “!” just raised north of $400 million in a single round. 2022! It is a whole. – alexander

TechCrunch’s top 3

  • Technology and Ukraine: As you can imagine, the Russian invasion of Ukraine is partly about technology. For example, Ukraine accepts crypto donations, which TechCrunch has covered here. And Ukrainian citizens are turning to encrypted messaging tools, and even offline maps during the war. But even more is happening at the corporate level, including Twitter marking Russian state-related tweets, going so far as to limit their reach. Russia is angry with American social media companies for limiting its reach, but frankly, too bad.
  • What is your BNPL startup really worth? News of a deal between Zap and Sezzle in the BNPL market has us crunching the numbers to determine what small businesses are worth buy now, pay later (BNPL). Why do we care? Because a lot of startups are building businesses around the consumer and business credit model. The news is not awesome.
  • Pee! Pee ! raised a huge tower! SoftBank’s Vision Fund 2 launched a $425 million Series E in Weee!, which allows consumers to buy ingredients for different cuisines, so if you need to find bits of different “Chinese, Japanese, Korean , Vietnamese, Filipino, Indian and Latin dishes, well, it probably has. The deal doubles the startup’s value to more than $4 billion and signals that SoftBank is still a risky operation.

Startups/VCs

Speaking of huge rounds of venture capital at high prices, OneCard is in talks to raise what we’ve heard to be nine-figure capital at a unicorn valuation. Our article, by our Indian ace journalist Manish Singh, also notes that the new round comes just a month after FPL Technologies, the company behind OneCard, last announced new capital.

To catch you up, OneCard is a consumer credit card startup in India that also provides credit scoring services.

Moving on, Y Combinator’s efforts to fund startups around the world are paying off. Data from the famed startup accelerator indicates that one in six companies, or about 16% of the companies it has incubated that are now worth $150 million or more – some 267 now – are headquartered outside the United States. United.

I am not surprised at the ratio and the increasing number of international companies that this implies. My question is how quickly the portion of high-value startups backed by Y Combinator is growing into an international majority.

  • Stämm Biotech raises $17 million: Have you heard of bioreactors? They are new to me, but apparently a key piece of kit in the world of biofabrication. Stämm, which is based in Buenos Aires, just raised a big Series A for its bioreactor product. It looks like a big, expensive gaming PC. Either way, if there’s enough demand in the market for a startup to create more bioreactors, I guess biology is going to be on for years to come.
  • The Conductor team builds a business around the project: It is a story as old as time. A company creates a tool, then makes it open source. Then some people create a hosted version of the product as a startup. In this case, the tool is Conductor, which Netflix built. The team that wrote the code at the streaming giant has now split up to create Orkes, which offers, you guessed it, a hosted version of Conductor.
  • Robin.io sells to the telecom arm of Rakuten: A few things are happening here. First, Rakuten has a telecommunications-focused company called Rakuten Symphony. It’s fairly recent. In addition, the group acquired Robin.io, which TechCrunch describes as a “startup that offers a Kubernetes platform optimized for storage solutions and complex network applications”.
  • TikTok is increasing the video length limit: TikTok is owned by Bytedance, which is technically still a private company. So, I guess TikTok news belongs to this part of the newsletter. Either way, you can now create 10-minute TikToks. Which, I dont know, seems a little contrary to what the service is known for. Maybe everything becomes YouTube in the end.
  • Oribi sells to LinkedIn for $80-90 million: Another deal for your eyes today, this time involving Oribi, which we write about is “a Tel Aviv startup specializing in marketing attribution technology.” LinkedIn, of course, is a portal where people in the sales industry can practice their slam poetry.
  • Flashfood is a good startup name: What does Flashfood do? It sells nearly expired food, to help fight food waste. Do you remember flash mobs? The idea was that they formed rallies quickly, back when Twitter was new and cool. Anyway, between flashmobs and flashfreezing, we can add flashfood to the flash category. The company just raised $12.3 million.

Leverage Early Investors When Raising a Series A, Says DeepScribe’s Akilesh Bapu

deep scribe

Picture credits: Index Ventures / DeepScribe

When creating a Series A for AI-based medical transcription platform DeepScribe, CEO and co-founder Akilesh Bapu set clear deadlines for the investors he approached.

Index Ventures partner Nina Achadjian received Bapu’s pitch deck while still on vacation, but the founder wouldn’t let her schedule a meeting for the following week.

In the end, Bapu’s instincts served him well. “When I walked out of the meeting, I immediately went to one of my partners and said, ‘Finally, I’ve found the company that’s following the right approach,’ Achadjian said.

Big Tech inc.

  • Apple will rack up Dutch fines until the heat death of the universe: That’s what we learned from the news that Apple was hit by a sixth sanction from the country’s government for a decision regarding in-app payments and dating apps within its borders. Apple, an American company, is apparently jaded before the Dutch authority for consumers and the market which charges it an additional 5 million euros. He now owes the country some 30 million euros, and the fines could rise to 50 million euros. Apple might have too much money, I think.
  • Google disables live traffic data in Ukraine: The Russian invasion of Ukraine exposes a host of interesting technological situations, including how some are using live traffic data to track troop movements. Google has cut some map data in the country, but directions will remain accessible.
  • EU wants to ban Russian media: Sputnik and Russia Today are under the ban hammer in the European Union. TechCrunch writes that this particular regulatory choice means “social media companies are under pressure to act” in the same way.
  • Cruise founder back at the wheel: After a GM executive steps down as CEO, Cruise co-founder Kyle Vogt is back in charge. And he’s also the CTO, so expect him to be a bit busy in the coming quarters. Self-driving is approaching the point of commercialization, so it will be interesting to see how Cruise evolves from technology to business.

TechCrunch Experts

dc experts

Picture credits: SEAN GLADWELL/Getty Images

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