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Hello and welcome to the Daily Crunch of July 7, 2021. Today has been a bad topic, from global fundraising news to frivolous demands attacking technology companies to the liquidity of European unicorns. I hope you are ready! Also, Early Stage is tomorrow. See you there! – Alex
The top of TechCrunch 3 5
- The former US president needs money: Former US President Donald Trump has made himself laugh by announcing lawsuits against major social media companies. His arguments were instantly ridiculed. But Trump is already raising funds to try to slander private companies, the media and, in general, anyone who doesn’t bow to his wishes. That was really the brouhaha of today.
- Why Microsoft’s big cloud deal collapsed: Yesterday we observed that the great military cloud agreement between Microsoft and the United States was capped. Today, Ron Miller has explained why, that is, trying to find one single seller of the $ 10 billion deal, was convicted from the start. Perhaps the Department of Defense can find a multicloud approach. I bet there are some startups willing to help you if so.
- The home ecosystem of bonkers in India: TechCrunch’s Manish Singh has been a force of nature since he joined, covering the Indian startup market with verve. Today he wrote “Dispatch from Banaglaore“. It’s fantastic. Details include that India produced 16 unicorns this year and that its emerging companies raised $ 10.46 million during the first six months of 2021. Wild.
- How European unicorns look for ways out: American companies go public. European companies go public. Chinese companies they were making public. But the SPAC boom seems to be largely an American affair. Is it expected to change? TechCrunch is investigating.
- $ 100 million per mmhmm: Remember mmhmm, the launch that made the Zoom tools premature before the pandemic? He just raised a round of $ 100 million. That’s a lot of ducats for the company. Let’s see what you can do with nine figures worth of capital. Also, Darrell’s headline was lovely for this piece: we awarded him 10 points.
Startups / VC
Sure, we had to expand TechCrunch’s Top 3 to five entries, but that doesn’t mean there weren’t any other mountain of news to cover. Here is your outstanding startup and venture capital roll:
- Turning IRL surgery into a virtual reality game: Today it was announced that Osso VR, a San Francisco-based startup, raised $ 27 million to “improve modern surgical instruction with a virtual reality-based solution that allows surgeons to interact with new medical devices in the 3D space ”. That means we can train more surgeons faster, right? If so, this is good news.
- In which Alex tried to cover the tools for developers. Again. Today r2c, a startup that builds a SaaS service around the Semgrep open source project, has raised a preventative series B. I wrote about it, trying to explain a cybersecurity tool for developers in the process. I give myself a B-, mostly for effort. The round is cool, though.
- Today’s agreement with Tiger is Unit21: It wouldn’t be a working day without a Tiger-led deal, right? Unit21 announced that the ever-present investor group led its $ 34 million B series, valuing it at about $ 300 million. The anti-fraud start without code increased its A series less than a year ago.
- Opioid treatment applications are a little too free with their data collection: TechCrunch was not excited.
Pakistan’s growing technological ecosystem is finally taking off
So far this year, startups in Pakistan are on track to raise more than in the previous five years combined, according to Mikal Khoso, an early-stage investor at Wavemaker Partners.
“Even more excitingly, much of this capital comes from international investors from all over Asia, the Middle East and even famous Silicon Valley investors,” he notes in a guest post on Extra Crunch.
He has identified three factors that are encouraging investor interest: a rapid expansion of mobile connectivity, an improvement in the security situation and critical legal and regulatory changes that make the country more favorable for start-up and VC.
By drawing a map of Pakistan’s technology ecosystem, Khoso identifies local businesses trying to grab a portion of food delivery, e-commerce, transportation and other sectors before examining the challenges that still exist.
“The segments of Pakistan that are likely to attract the best entrepreneurs and most investors in the coming years will be fintech, e-commerce and edtech,” says Khoso.
(Extra Crunch is our membership program, which helps founders and startup teams get ahead. You can sign up here.)
Big Tech Inc.
Am I still here? Well. There is even more news to happen. Let’s talk about big companies:
- SPAC satellites are here: Beep beep beep all, both Satellogic and Planet are made public through blank check companies. Sure, you’re tired of the SPACs. But these offers are out of this world. Har har har.
- $ 200 million for Outbrain before it goes public: Turns out the old round of bridges is still a thing. Outbrain, which TechCrunch described as “an advertising company that provides clickbait ads below news articles,” prepared a big round before its own debut.
- India’s technology oversight is shaking: Watch what comes next.
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