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NEX raises $25M, launches Active Arcade to get people moving

There is a physical activity deficit in our world. Three fourths of adults say staying in shape is very important for health benefits. Yet, one in four adults and 81% of adolescents are insufficiently physically active, according to the World Health Organization. Even before COVID-19, less than 24% of children 6 to 17 years of age did 60 minutes of physical activity daily, as per Centers for Disease Control and Prevention (CDC). Working from home and staying at home during the pandemic exacerbat...
Tags: Startups, TC, Gaming, Facebook, Asia, Hong Kong, California, Funding, Sports, Tech, Nba, World Health Organization, San Jose, Will Smith, Brooklyn Nets, Mvp


Fly your way to office: India to soon introduce Asia’s first hybrid flying cars

Instead of jostling through unending traffic on the way to the office, Indians may soon travel hassle-free to their destinations in cities through flying hybrid cars. [Via]
Tags: Asia, Business, India, Tech


US stocks are heading for their biggest slump since Feburary

By DAMIAN J. TROISE and STAN CHOE Stocks slumped on Wall Street Monday, mirroring losses overseas and putting the S&P 500 index on track for its biggest drop since February. Worries about debt-engorged Chinese property developers — and the damage they could do to investors worldwide if they default — are rippling across markets. Investors are also concerned that the U.S. Federal Reserve could signal this week that it’s planning to pull back some of the support measures it’s been giving markets a...
Tags: Apple, Asia, Hong Kong, Congress, China, Uncategorized, US, Bank Of America, Sport, Soccer, Nvidia, Treasury, Pfizer, Morgan Stanley, Fed, U S Treasury


Salesforce backs Indian payments startup Razorpay

Six-year-old Bangalore-based fintech Razorpay, which was valued at $3 billion in a financing round in April this year, has courted one more high-profile investor: Salesforce Ventures. Razorpay said on Monday it has received a “strategic investment” from the venture arm of the American enterprise giant. The investment will help the startup “further strengthen its presence in the business banking space,” it said. The two firms didn’t disclose the size of the investment, but Sequoia Capital India-b...
Tags: Asia, Microsoft, India, Funding, Tech, Payments, Salesforce, Hyderabad, Bangalore, Salesforce Ventures, Google Facebook, South East Asian, Oyo, Arundhati Bhattacharya, Bhattacharya, RazorPay


Amazon bets on Hindi voice shopping to reach wider India

Speaking of Amazon — which is reportedly conducting an investigation to find whether its lawyers bribed government officials in India — the company announced today it plans to roll out the voice shopping experience feature in the Hindi language in the South Asian market ahead of the Diwali festival in early November. The e-commerce giant, which rolled out the voice shopping experience in English last year, said the feature in the Hindi language — which will roll out in “coming weeks” — will enab...
Tags: Google, Amazon, Ecommerce, Apps, Asia, India, Tech, Flipkart, Alexa, Amazon India, Diwali, Ken, Marathi, Kishore Thota


Amazon starts probe over bribe to gov’t officials by its lawyers in India, report says

Amazon has launched an investigation into the conduct of its legal representatives in India following a complaint from a whistleblower who alleged that one or more of the company’s reps had bribed government officials, Indian news and analysis outlet the Morning Context reported on Monday. The company is investigating whether legal fees financed by it was used for bribing government officials, the report said, which cited unnamed sources and didn’t identify the government officials. Amazon has p...
Tags: Amazon, Asia, Government, India, Tech, Amazon India, Reuters, Rahul Sundaram


Pakistan edtech startup Maqsad gets $2.1M pre-seed to make education more accessible

Taha Ahmed and Rooshan Aziz left their jobs in strategy consulting and investment banking in London earlier this year in order to found a mobile-only education platform startup, Maqsad, in Pakistan, with a goal “to make education more accessible to 100 million Pakistani students.” Having grown up in Karachi, childhood friends Ahmed and Aziz are aware of the challenges about the Pakistani education system, which is notably worse for those not living in large urban areas (the nation’s student-teac...
Tags: Startups, TC, Mobile, Asia, London, Education, Indonesia, India, Funding, Tech, Pakistan, Middle East, Edtech, Ahmed, Lek, LAHORE


India’s Cars24, a used-vehicle sales platform, raises $450M at a $1.84B valuation

The used car market is getting another major infusion of venture capital today, with one of the faster scaling startups out of India picking up a major round of financing to double down on growth: Cars24 — a site and app that sells users cars and used two-wheeled motorbikes — has raised $450 million, a Series F of $340 million and $110 million in debt. The investment values Cars24 at $1.84 billion post-money, the company said, making it one of the more valuable privately-held used car startups g...
Tags: TC, Transportation, Asia, Europe, UK, Mexico, India, Tech, Automotive, Malaysia, Tencent, Brazil, Uae, DST Global, Zipcar, Falcon Edge Capital


India’s Cars24, a used-vehicle marketplace, raises $450M at a $1.84B valuation

The used car market is getting another major infusion of venture capital today, with one of the faster scaling startups out of India picking up a major round of financing to double down on growth: Cars24 — a site and app that sells users cars and used two-wheeled motorbikes — has raised $450 million, a Series F of $340 million and $110 million in debt. The investment values Cars24 at $1.84 billion post-money, the company said, making it one of the more valuable privately-held used car startups g...
Tags: TC, Transportation, Asia, Europe, UK, Mexico, India, Tech, Automotive, Malaysia, Tencent, Brazil, Uae, DST Global, Zipcar, Falcon Edge Capital


China Roundup: Beijing is tearing down the digital ‘walled gardens’

Hello and welcome back to TechCrunch’s China roundup, a digest of recent events shaping the Chinese tech landscape and what they mean to people in the rest of the world. This week, China gets serious about breaking down the walled gardens that its internet giants have formed for decades. Two major funding rounds were announced, from the newly established autonomous driving unicorn Deeproute.ai and fast-growing, cross-border financial service provider XTransfer. Tear down the walls The Chinese ...
Tags: TC, Asia, China, Southeast Asia, Tech, Beijing, Shanghai, Alibaba, JD.com, Tencent, WeChat, Alipay, Alibaba Group, Online Payments, Jack Ma, Anker


Google abused dominant position of Android in India, antitrust probe finds

Google has abused the dominant position of Android in India to illegally hurt competitors in the world’s second largest internet market, a two-year antitrust probe by the nation’s watchdog has found. The Android-maker reduced device manufacturing firms’ ability and incentive to develop — and sell — devices running alternative versions of Android (more popularly known as forks), the probe found, according to two people have have been briefed on the findings. Additionally, the report found Google’...
Tags: Apple, Google, Amazon, Android, Asia, Government, India, Tech, CCI, Competition Commission of India, Google India, Alliance of Digital India Foundation


Elon Musk praises Chinese automakers amidst regulatory scrutiny

An unusually scripted Elon Musk issued conciliatory and complimentary comments to Chinese automakers during a pre-recorded appearance at China’s World New Energy Vehicle Congress, striking a pose that is worlds away from his commentary style in the United States. “I have a great deal of respect for the many Chinese automakers for driving these [EV and AV] technologies,” he said, the reflection of a ring light just visible in the window over his left shoulder. The entire tableau was enough to mak...
Tags: Transportation, Asia, Elon Musk, China, Tech, Tesla, Bloomberg, Automotive, United States, Ford, Electric Vehicles, Shanghai, Bmw, Baidu, Musk, Global Times


The AirPods 3 were a no-show, but don’t count them out yet

While most of the products at the iPhone 13 event were predicted by early rumors, there was one prominent prediction that didn’t show up: the AirPods 3. But don’t count it out just yet. A new report by DigiTimes Asia claims the AirPods 3 are not only coming — they are already in production. According to DigiTimes, shipments from components suppliers and assemblers have been ‘proceeding slowly,’ but it still seems the headphones could very well show up within the next few months. The new AirPods ...
Tags: Apple, Startups, Asia, Plugged, Next Featured


Byju’s acquires coding platform Tynker for $200 million in US expansion push

Byju’s said on Thursday it has acquired California-headquartered Tynker, a leading coding platform for K-12 students, the latest in a series of major purchases as the Indian edtech giant attempts to aggressively expand to international markets. The companies didn’t disclose the terms of the deal, but a person familiar with the matter told TechCrunch that the Indian firm is spending about $200 million on the acquisition. Tynker, which counts BBC Learning, Google, Microsoft, Mattel and NASA among ...
Tags: Fundings & Exits, Asia, Education, California, India, US, Tech, Nasa, Bangalore, Times Internet, Tynker, Byju, Byju's, Krishna Vedati, Raveendran, Gradeup


Asian merchant commerce platform Pine Labs raises $100 million

Pine Labs said on Thursday it has raised an additional $100 million, just weeks after securing $600 million in a financing round, as the Asian merchant commerce platform begins to explore the public markets. The U.S.-based investment management company Invesco Developing Markets Fund made the $100 million investment, the startup said in a statement. Pine Labs, which started its journey in India, was valued at $3 billion in its July financing round. Pine Labs, which counts Sequoia Capital India, ...
Tags: Asia, Ipo, India, Funding, Tech, Goldman Sachs, Morgan Stanley, Mastercard, Invesco, Economic Times, Rau, Pine Labs, Amrish Rau, Sequoia Capital India Temasek PayPal, Invesco Developing Markets Fund, Justin Leverenz


Google faces calls to compensate thousands of underpaid temp workers after 'massive moral failing' uncovered

Google's logo seen at its Mountain View campus. Alex Tai/SOPA Images/LightRocket via Getty Images Google faces calls to compensate thousands of temporary workers it has historically underpaid. More than 140 Google employees signed a petition calling the situation a 'massive moral failing.' Google said it was committed to undertaking a 'thorough review' of the situation. See more stories on Insider's business page. Google employees are calling on the tech giant to...
Tags: Google, Asia, Europe, Technology, US, Trends, New York Times, Poland, Guardian, Mountain View, Alphabet, Don, Netherlands France, Tech Insider, Getty Images Google, Katie Canales


Gogoro will go public on Nasdaq after $2.35B SPAC deal

Gogoro is going public. The company, which is best known for its electric Smartscooters and swappable battery infrastructure, announced today it will list on Nasdaq through a merger with Poema Global, a SPAC affiliated with Princeville Capital. The deal sets Gogoro’s enterprise valuation at $2.35 billion and is targeted to close in the first quarter of 2022. The combined company will be known as Gogoro Inc and trade under the symbol GGR. Assuming no redemptions, Gogoro anticipates making $550 mi...
Tags: Fundings & Exits, Startups, TC, Transportation, Asia, Indonesia, China, Southeast Asia, India, Tech, Taiwan, Scooters, Batteries, Mobility, New Delhi, Hangzhou


A16z in talks to back CoinSwitch Kuber in first India investment

A16z is inching closer to making its first investment in a startup in India, the world’s second largest internet market that has produced over two dozen unicorns this year. The Menlo Park-headquartered firm is in final stages of conversations to invest in Indian crypto trading startup CoinSwitch Kuber, three sources familiar with the matter told TechCrunch. The proposed deal values the Bangalore-based firm at $1.9 billion, two sources said. Coinbase is also investing in the new round, one of the...
Tags: TC, Apps, Asia, India, Funding, Tech, Andreessen Horowitz, Tiger Global, Coinbase, Bangalore, Reserve Bank of India, Menlo Park, Kalaari, Coatue, A16z, Sequoia Capital India


Vietnam-based CoderSchool gets $2.6M pre-Series A to scale online course platform

CoderSchool, a Ho Chi Minh City, Vietnam-based online coding school startup, announced today $2.6 million in pre-Series A funding to scale up its online coding school platform. This round was led by Monk’s Hill Ventures, with participation from returning seed investors Iterative, XA Network and iSeed Ventures. CoderSchool raised a seed round led by TRIVE Ventures in 2018. CoderSchool will use the funding to accelerate its online teaching platform growth and technology infrastructure expansion fo...
Tags: Apple, Startups, TC, Asia, Education, Southeast Asia, Funding, Tech, Coding, Vietnam, Lee, Momo, Coding School, Charles Lee, Chi Minh City Vietnam, Lambda School


Tiger Global-led $100M investment makes Apna India’s fastest unicorn

A 22-month-old startup that is helping millions of blue- and gray-collar workers in India learn new skills and find jobs has become the youngest firm to join the coveted unicorn status in the world’s second-largest internet market. Apna announced on Thursday that it has raised $100 million in a round led by Tiger Global. The new round — a Series C — valued Apna at $1.1 billion. TechCrunch reported last month that Tiger Global, an existing investor in Apna, was in talks to lead a $100 million fin...
Tags: Apple, Startups, Apps, Asia, India, Funding, Africa, Tech, Middle East, Tiger Global, Bangalore, Parikh, Owl Ventures, Griffin Schroeder, Recent Funding, GSV Ventures


When the Wind Stops Blowing, an Energy Storm Brews

An anonymous reader shares a report (paywalled): Gas made up the largest share of the UK's energy mix in 2020, at 34%; followed by wind on a quarter; nuclear at 17%; biomass at 6.5% and solar at 4.4%. Despite the progress of renewables, detractors note the problems arise when the sun doesn't shine and the wind doesn't blow. Until reliable battery storage for renewable energy is developed, these sources can only ever be intermittent, critics argue, and some infrastructure will continue to use oil...
Tags: Asia, Europe, UK, Tech, North Sea, Martin Lewis, James Huckstepp


Google finishes laying a giant undersea internet cable stretching 3,900 miles from New York to the UK and Spain

A buoy at the end of the Grace Hopper subsea cable sits on the beach in Bude, UK. Google Cloud Google finished laying its Grace Hopper subsea internet cable in the UK on Tuesday. The 3,900-mile Grace Hopper cable starts in New York and has landing points in the UK and Spain. The cable is due to ferry up to 350 terabytes of data per second when it comes online, Google said. See more stories on Insider's business page. Google has finished laying its giant Grace Hopper subsea internet cab...
Tags: Google, Facebook, Asia, Europe, UK, New York, News, Cable, Internet, France, US, Trends, Spain, Atlantic, Chile, Argentina


Google finishes laying a giant undersea internet cable stretching 3,300 miles from New York to the UK and Spain

A buoy at the end of the Grace Hopper subsea cable sits on the beach in Bude, UK. Google Cloud Google finished laying its Grace Hopper subsea internet cable in the UK on Tuesday. The 3,300-mile Grace Hopper cable starts in New York and has landing points in the UK and Spain. The cable is due to ferry up to 350 terabytes of data per second when it comes online, Google said. See more stories on Insider's business page. Google has finished laying its giant Grace Hopper subsea internet cab...
Tags: Google, Facebook, Asia, Europe, UK, New York, News, Cable, Internet, France, US, Trends, Spain, Atlantic, Chile, Argentina


Europe plans a Chips Act to boost semiconductor sovereignty

The EU will use legislation to push for greater resilience and sovereignty in regional semiconductor supply chains. The bloc’s president trailed a forthcoming ‘European Chips Act’ in a state of the union speech today. Ursula von der Leyen suggested that gaining greater autonomy in chipmaking is now a key component of the EU’s overarching digital strategy. She flagged the global shortage of semiconductors, which has led to slow downs in production for a range of products that rely on chips to dri...
Tags: Asia, Europe, Hardware, France, China, US, Supply Chain, Tech, Eu, European Union, Taiwan, Commission, European Commission, Belgium, Semiconductor, Consumer Electronics


Chaldal, Bangladesh’s largest grocery delivery platform, raises $10M Series C

Founded in 2013, Bangladesh’s Chaldal was one of the first grocery delivery startups in the world to use the “dark” store model, picking up orders from its own warehouses instead of retail stores. Now the company says it is the country’s second-largest grocery player and the largest grocery e-commerce platform, with 27 warehouses located in four cities. Chaldal plans to expand into 15 new cities with a recently-closed $10 million Series C. The round was led by Taavet Hinrikus, co-founder of Wise...
Tags: Fundings & Exits, Startups, TC, Asia, Groceries, Tech, Unilever, Walmart, Bangladesh, On-demand, Grocery Delivery, Dhaka, Chaldal, Taavet Hinrikus, Sten Tamkivi, Alim


India’s Groww in talks to raise funds at a $3 billion valuation

Groww, an Indian startup that is helping millennials invest in mutual funds and stocks, is in advanced stages of talks to raise a new financing round at a $3 billion valuation, according to six people familiar with the matter. The Bangalore-based startup is negotiating to close a $250 million round, the people said, requesting anonymity as the matter is private. The round could close within weeks, they said. Usual caveats apply: The terms of the deal may change. The startup has received several ...
Tags: Asia, India, Funding, Tech, Payments, Tiger Global, Bangalore, Coatue, Sequoia Capital India, Insight Partners, Groww, Mobile Premier League


Index leads $12.2M seed in Sourceful, a data play to make supply chains greener

Supply chains can be a complex logistical challenge. But they pose an even greater environmental challenge. And it’s that latter problem — global supply-chain sustainability — where UK startup Sourceful is fully focused, although it argues its approach can boost efficiency as well as shrink environmental impact. So it’s a win-win, per the pitch. Early investors look impressed: Sourceful is announcing a $12.2 million seed funding round today, led by Europe’s Index Ventures (partner, Danny Rimer, ...
Tags: Fundings & Exits, Asia, Europe, UK, China, Startup, Supply Chain, Supply Chain Management, Tech, Sustainability, E-commerce, ISO, Greenhouse Gas Emissions, Environmentalism, Logistics, Carbon Footprint


Daily Crunch: Here’s what happened at Apple’s virtual 2021 fall event

To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Hello and welcome to Daily Crunch for September 14, 2021. It was an Apple day on the internets, so we’ve all spent the afternoon trying to figure out if we need a new smartphone. Answer? Probably not, but that won’t stop a good portion of the TechCrunch crew from deploying fresh Yahoo lucre into Cupertino’s market cap. We love this stuff. On the TechCrunch front, D...
Tags: Apple, TC, Asia, Europe, Microsoft, Montana, China, Boston, Tech, Atlanta, Chicago, United States, Jordan, Biden, Cupertino, Jakarta


Extra Crunch roundup: BNPL bonanza, scraping Toast’s S-1/A, early-stage SaaS pricing

Are founders in fundraising mode short-sighted when it comes to working with Chinese venture funds? Runa Capital’s Asia business development manager Denis Kalinin studied data from iTjuzi, a database of Chinese venture capitalists, and found: “…Chinese funds invested around $250 billion in 2020 (three times higher than the figure reported in Crunchbase). This figure puts Chinese VC investments only 30% lower than investments by U.S. funds, but three times that of U.K. funds and 12.5 times more t...
Tags: Startups, TC, Asia, Europe, China, India, Tech, Paypal, Cnn, United States, Foursquare, Klarna, Alex Wilhelm, Walter Thompson, Kalinin, Danny Crichton


JB Straubel’s Redwood Materials is expanding into the battery materials business

Redwood Materials, the company started by former Tesla co-founder JB Straubel that aims to create a circular supply chain for batteries, is expanding its business. While it has been known primarily as a recycling firm, Redwood plans to simplify the supply chain by producing critical battery materials right here in the U.S. To get there, the company is currently scouting a location for a new million-square-foot factory, at a cost of over $1 billion, Bloomberg reported. That factory would be dedic...
Tags: Transportation, Asia, Tech, Tesla, Supply Chains, Bloomberg, Automotive, United States, Electric Vehicles, Panasonic, Lithium Ion Batteries, Baillie Gifford, Redwood, Carson City Nevada, JB Straubel, Sparks Nevada



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