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TruePay Raises $32 Million in One of the Largest-Ever Series A Rounds in Brazil

24Nov By AdityaNo Comments

FUNDING

TruePay Raises $32 Million in One of the Largest-Ever Series A Rounds in Brazil

SÃO PAULO, Nov. 24, 2021-- TruePay, a startup that helps small and medium sized retailers have free and secure access to credit, has raised US$32 million in Series A funding led by Addition. This growth stage investment is one of the largest ever made in Brazil. The funds will be used to improve the solution, increase capacity and expand the team. The startup, which has been growing 100% a month, plans to grow tenfold by the end of 2022. Founded in December 2020, TruePay has clients throughout Brazil and a merchant base in the thousands. "We are very happy to have the trust of some of the best investors in the world as well as the super talented people that we were able to bring on board. A raise like this is a symbol of the impact TruePay will make in the market by delivering ...

Leonardo DiCaprio Invests in Mosa Meat and Aleph Farms

4Oct By AdityaNo Comments

FUNDING

Leonardo DiCaprio Invests in Mosa Meat and Aleph Farms

MAASTRICHT, Netherlands and REHOVOT, Israel, 4th Oct, 2021- Leading cultivated meat firm Aleph Farms and Mosa Meat announced an investment from Hollywood actor, Leonardo DiCaprio. Both companies have demonstrated the ability to grow beef directly from animal cells, with the unveiling of the first cultivated hamburger by Mosa Meat in 2013 and the first cultivated steak and ribeye by Aleph Farms in 2018 and 2021 respectively. The detail of the deal has not been disclosed yet. "One of the most impactful ways to combat the climate crisis is to transform our food system. Mosa Meat and Aleph Farms offer new ways to satisfy the world's demand for beef, while solving some of the most pressing issues of current industrial beef production. I'm very pleased to joi...

Smallcase raises $40 mn from Amazon & others

20Aug By AdityaNo Comments

FUNDING

Smallcase raises $40 mn from Amazon & others

Bengaluru, 20th Aug 2021: Bengaluru-based stock management company Smallcase raises USD 40 million (about Rs 297 crore) in funding, led by Faering Capital as well as new investors Amazon, Smbhav Venture Fund, and Premji Invest. The Series C round also saw participation from existing investors, including Sequoia Capital India, Blume Ventures, Beenext, DSP Group, Arkam Ventures, WEH Ventures, HDFC Bank Group, and Rare Enterprises CEO Utpal Sheth, a statement said. The round brings the total capital raised by Smallcase to over USD 60 million, it added. With the close of the transaction, Sameer Shroff - co-founder and Managing Director at Faering Capital will join the board of Smallcase. The fund raised will be used to continue launching better investment products for the retail investo...

3Aug By AdityaNo Comments

News

Zoom to Pay $85M for Privacy Violation

California, Aug 3, 2021: Video Conferencing platform Zoom will pay $85 million to settle a lawsuit alleging that weak privacy controls open the personal information of users for outsiders to disrupt video meetings during the start of the pandemic. Millions of people in the U.S. who have used Zoom since March 31, 2020, could be eligible for a slice of the settlement that was reached over the weekend. The payment amounts are expected to average $34 or $35 for those who subscribed to Zoom's paid version, and $11 or $12 for the overwhelming majority who used the free version, based on estimates in court documents. Zoom was bedeviled by security issues early last year after stay-at-home orders transformed the company's videoconferencing service from a niche product into a cultural phenom...

Mercedes Benz Ready to go all Electric, Plans for eight Gigafactories

22Jul By AdityaNo Comments

Automobile

Mercedes Benz Ready to go all Electric, Plans for eight Gigafactories

Mercedes-Benz is getting ready to go all electric by the end of the decade, where market conditions allow. Shifting from electric-first to electric-only, the world's pre-eminent luxury car company is accelerating toward an emissions-free and software-driven future. By 2022, Mercedes-Benz will have battery electric vehicles (BEV) in all segments the company serves. From 2025 onwards, all newly launched vehicle architectures will be electric-only and customers will be able to choose an all-electric alternative for every model the company makes. Mercedes-Benz intends to manage this accelerated transformation while sticking to its profitability targets. "The EV shift is picking up speed - especially in the luxury segment, where Mercedes-Benz belongs. The tipping point is getting closer ...

YouTube acquired Indian video e-Commerce platform Simsim

20Jul By AdityaNo Comments

ACQUISITION

YouTube acquired Indian video e-Commerce platform Simsim

New Delhi, Jul 20th, 2021: YouTube said it will acquire Indian video e-commerce platform Simsim, as part of its efforts to help small businesses and retailers in India reach new customers. The detail of the transactions has not been disclosed. "We are taking another step to help viewers discover and buy products from local businesses, we have signed a definitive agreement to acquire Simsim and expect to complete the transaction in the coming weeks," Google said in a blogpost. There will be no immediate changes to Simsim and the app will continue operating independently, it added. YouTube is working on ways to showcase Simsim offers to YouTube viewers. In a joint statement, Simsim co-founders Amit Bagaria, Kunal Suri, and Saurabh Vashishtha said, "The platform was started to he...

Food delivery platform Zomato’s IPO Oversubscribed

14Jul By AdityaNo Comments

Market

Food delivery platform Zomato’s IPO Oversubscribed

Bengaluru, Jul 14th, 2021: India's leading food delivery platform Zomato's initial public offering was oversubscribed on an opening day with retail investors bidding for 2.7 times the number of shares reserved for them. The offer received bids for 75.60 crore equity shares against an IPO size of 71.92 crores, stock exchange data showed. Retail investors sought 2.69 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 34.88 crore shares were bid. Non-institutional investors put in bids for 13 percent against their reserved portion while 38.88 crore shares reserved for qualified institutional buyers (QIBs) were almost fully subscribed. Of the 38.09 crore shares sought by QIBs, over 36.84 crore was by foreign institutional investo...

Virgin Galactic completes first Space Flight with Crew

12Jul By AdityaNo Comments

INSPIRATIONAL

Virgin Galactic completes first Space Flight with Crew

SF, Calif. 11th July 2021: Virgin Galactic VSS Unity first time successfully reached space with the full crew. The flight was the 22nd test flight of VSS Unity and the first test flight with a full crew in the cabin, including the Company’s founder, Sir Richard Branson. The crew fulfilled a number of test objectives related to the cabin and customer experience, including evaluating the commercial customer cabin, the views of Earth from space, the conditions for conducting research and the effectiveness of the five-day pre-flight training program at Spaceport America. VSS Unity achieved a speed of Mach 3 after being released from the mothership, VMS Eve. The vehicle reached space, at an altitude of 53.5 miles, before gliding smoothly to a runway landing at Spaceport America. This ...

Ola Electric raises $100 million long term debt

12Jul By AdityaNo Comments

Automobile

Ola Electric raises $100 million long term debt

TN, July 12, 2021: Ola Electric and Bank of Baroda have signed the largest long-term debt financing agreement in the Indian EV industry. This 10-year debt of US$100 million is towards the funding and financial closure of the Phase 1 of the Ola Futurefactory, Ola’s global manufacturing hub for its electric two-wheelers. Ola had earlier announced last December that it will be investing Rs 2,400 crore for setting up the Phase 1 of the factory. “Today’s agreement for long term debt financing between Ola and Bank of Baroda signals the confidence of the institutional lenders in our plans to build the world’s largest two-wheeler factory in record time. We are committed to accelerating the transition to sustainable mobility and manufacture made in India EVs for the world and we are happy th...

Ways to Earn Extra Money in the Post-COVID Era

30Jun By AdityaNo Comments

ANALYSIS

Ways to Earn Extra Money in the Post-COVID Era

SAN JOSE, Calif., June 30, 2021-- Participating in the gig economy can help you shore up funds when you're in between jobs. Side hustles can also bring greater financial stability during normal times. Think of it this way, If you work for a single company and you are let go, you'll lose 100% of your income. But let's say you side hustle with five clients or gigs, and each of them makes up 20% of your pay. If you lose one side gig and are down to four, you only miss 20% of your income. Side hustling is also a great way to rake in extra cash even while you have a full-time job. And it can also be a way to supplement your pay if you have a part-time job. With the financial uncertainty millions of folks have seen during COVID-19, it can be a better route to provide greater security. ...

Why Learning a New Language is a Phenomenal Idea Nowadays

27Jun By AdityaNo Comments

BLOGS

Why Learning a New Language is a Phenomenal Idea Nowadays

Despite all of the arguments you've probably heard about the advantages of learning a second language for your education, trips and job, some individuals still tend to believe that being bilingual isn't as essential as it once was. As our society develops increasingly connected as a result of technology advancements, it has become clear that learning other languages is helpful for a variety of reasons. In today's multinational world, relationships are more fundamental than ever. Speaking a foreign language can always offer you an unexpected advantage as the world becomes increasingly interconnected. With an increasing level of international commercial activity, travel industry, migration and cross-cultural encounters, you're expected to run into someone who doesn't communicate in...

Chinese banks step up cryptocurrency ban, Valuation down to $30,000

24Jun By AdityaNo Comments

CHINA

Chinese banks step up cryptocurrency ban, Valuation down to $30,000

Beijing, Jun 24th, 2021: China's biggest banks promised to refuse to help customers trade Bitcoin and other cryptocurrencies after the central bank said executives were told to step up enforcement of a government ban. Regulators appear to worry that despite the 2013 ban on Chinese banks and other institutions handling cryptocurrencies, the state-run financial system might be indirectly exposed to risks. After this announcement, Bitcoin's valuation falling below $30,000. Ethereum is more than 50% off its highs from early May. Many other crypto assets have fallen even further with a number of tokens down 70% to 90% in value. Beijing also worries users might evade efforts to monitor and control the financial system. The four major state-owned commercial banks and payment service ...