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Hello and welcome to Daily Crunch on July 7th, 2021! Today has been a sucker, with everything from global startup fundraising news to frivolous lawsuits against tech companies to European unicorn liquidity. Hope you are ready! In addition, the early stage is tomorrow. See you there! – Alex
The Biomedarticles top 3 5
- Ex-US President needs money: The previous US President Donald Trump made a mockery of himself today by announcing lawsuits against large social media companies. His arguments were immediately ridiculed. But Trump is already raising funds for his attempt to slander private companies, the media, and anyone in general who refuses to bow to his wishes. That’s what today’s Brouhaha was all about.
- Why Microsoft’s Big Cloud Deal Failed: We discovered yesterday that the major military cloud deal between Microsoft and the US had failed. Today Ron Miller explained why, namely that he tried to get a single Seller for the $ 10 billion deal, it was doomed from the start. Perhaps the Department of Defense can find a multi-cloud approach. I bet there are a few startups out there willing to help out if that is the case.
- India’s crazy startup ecosystem: Biomedarticles’s Manish Singh has been a force of nature since joining and covers the Indian startup market with vigor. Today he wrote “Dispatch from Banaglaore. ” It is wonderful. The details include that India produced 16 unicorns this year and that its startups raised $ 10.46 billion in the first six months of 2021. Wild.
- How European unicorns are looking for ways out: US companies go public. European companies go public. Chinese company were make public. But the SPAC boom appears to be largely an American affair. Should that change? Biomedarticles determined.
- $ 100 million for mmhmm: Do you remember mmhmm, the startup that made nice zoom tools earlier in the pandemic? It just raised a $ 100 million round. That’s a bunch of ducats for the company. Let’s see what it can do with nine-figure capital. Plus, Darrell’s headline for this article was very nice – we gave it 10 points.
Startups / VC
Sure, we had to expand the Biomedarticles Top 3 to five entries, but that doesn’t mean there weren’t any more mountain to report news. Here is your startup and venture capital highlight role:
- Turn the IRL operation into a VR game: Today it was announced that Osso VR, a San Francisco-based startup, has raised US $ 27 million to “update modern surgical education with a virtual reality-based solution that empowers surgeons with new medical devices to interact in 3D space ”. That means we can train more surgeons faster, right? If so, this is good news.
- In which Alex tried to cover developer tools. Again. Today r2c, a startup that is building a SaaS service around the open source project Semgrep, launched a preventive series B. I wrote about it trying to explain a developer cybersecurity tool in the process. I give myself a B-, mostly for effort. But the round is cool.
- Today’s Tiger deal is Unit21: It wouldn’t be a weekday without a Tiger-run deal, would it? Unit21 announced that the ubiquitous investment group launched a Series B worth $ 34 million in its business and valued it at around $ 300 million. The no-code and anti-fraud startup launched its Series A less than a year ago.
- Opioid treatment apps are a little too free with their data collection: Biomedarticles wasn’t thrilled.
Pakistan’s growing tech ecosystem is finally picking up speed
According to Mikal Khoso, an early stage investor at Wavemaker Partners, the startups this year are well on their way to raising more money this year than in the last five years combined.
“What’s even more exciting is that much of this capital comes from international investors across Asia, the Middle East and even famous investors from Silicon Valley,” he notes in a guest post for Extra Crunch.
He identified three factors that are fueling investor interest: the rapid expansion of mobile connectivity, improved security, and critical legal and regulatory changes that are making the country more launch and VC friendly.
Khoso draws a map of the Pakistani tech ecosystem and identifies local businesses trying to secure a slice of grocery delivery, e-commerce, ride-hailing, and other sectors before exploring the remaining challenges.
“The segments in Pakistan that are likely to attract the best entrepreneurs and the most investor capital in the coming years will be fintech, e-commerce and edtech,” says Khoso.
(Extra Crunch is our membership program that helps founders and startup teams move forward. Here you can sign up.)
Big Tech Inc.
Still here? Well. There is more news to learn. Let’s talk about big companies:
- Satellite SPACs are here: Beep beep beep everyone, both Satellogic and Planet go public through blank check companies. Sure, you’ve had enough of SPACs. But these offers are out of this world! Har har har.
- $ 200 million for Outbrain before going public: The old bridge round is still a thing, it turns out. Outbrain, which Biomedarticles described as “an adtech company serving clickbait ads under news articles,” put together a huge round ahead of its own debut.
- India’s technical oversight shaken: Keep an eye on what’s next.
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