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Hello and welcome to Daily Crunch for July 22, 2021. We have a lot of news for you today, but with a notable twist. We usually have a lot of startup news and a few stories from big tech companies. We have a lot of both today, so buckle up.
Also, US Secretary of Transportation Pete Buttigieg comes to interrupt. With TechCrunch covering the worlds of micromobility, mobility proper, and the future of transit, we have some questions for man. – Alex
TechCrunch’s Top 3
- Gopuff goes back up: TechCrunch broke the news today that Gopuff, the SoftBank-backed delivery company, is raising more capital. Our sources say $ 1 billion with a valuation of around $ 15 billion. Axios confirmed the news. Potential funding will follow from a large amount of capital raised for instant delivery groceries around the world.
- Canada’s venture capital market is hotter than the sun: TechCrunch’s exploration of global emerging markets, US, Indian, European and Latin American continued today with a look at North America. Turns out, Canadian startups are enjoying an incredible year when it comes to landing big rounds of risk.
- The internet went down. This is why: Akamai’s DNS system suffered a slump today, wiping out a large part of the internet. A lot of things were broken, including the Couchbase website just as your humble server was getting ready to chat with its CEO about its recent initial public offering (more here). Things are back to normal now, but don’t forget that the internet is not a series of tubes. It’s a series of leaky tubes that are taped together.
Startups / VC
Let’s talk about startups. Today we have everything from passwordless technology to new venture funds and a robotics roundup. But if you need even more, here you go Greylock’s Mike Duboe explains how to define growth and build your team.
- Mindtech raises $ 3.25 million for synthetic human observation: No, really, that’s what it does. The UK-based company’s service wants to train CCTV cameras on digital humans, saving clients from complicated privacy issues. Is this one of those times when venture capital dollars seem to be flowing into a really kinda crazy idea?
- Sendlane wants you to spend more: Sendlane, which now has $ 20 million in new capital, wants to help its clients use data in its customers to help keep loyal buyers and spend more. I’d call this a little creepy, but then I’d sound like the Luddite that I am.
- All Raise launches virtual bootcamp for women and non-binary founders: As venture financing moves to new heights, it is not landing everywhere equally. In fact, some data sources indicate that VC is actually becoming less diverse this year. All Raise wants to roll back that by helping more founders other than people who It looks like I increase capital. Well.
- Magic raises $ 27 million to get rid of passwords: Magic, a startup that will spend its life trying to live up to its name, just raised a huge chunk of money to pursue its vision of a less password-centric future. Its technology allows developers to “implement a variety of passwordless authentication methods with just a few lines of code,” reports TechCrunch.
- What’s in a five-letter name and $ 3 billion more? Sadly, it’s not you or me. It’s Index! The venture capital firm has raised new funds worth just under $ 3 billion, a lot of money from which it raised, uh, A year ago. Hot Startup Summer is being made possible by the Hot Zero Interest Rate Policy Decade, which in turn is helping to jumpstart the Hot Bored Cash Season, leading all venture capital firms to raise enough money to get their doctors from bedside lose sleep. Fun!
And for robotics fans, TechCrunch has a new overview of the industry here. Enjoy!
Last mile delivery in Latin America is ready to take off
Thanks to expanding fulfillment centers, seamless logistics networks, and ubiquitous internet access, consumers in many regions are now ordering food and a new set of kitchen utensils at breakfast and can reasonably expect everything to arrive on time. for dinner.
In Latin America, the lack of technology infrastructure makes delivery operations less complex (products are delivered from a retailer’s loading dock to the customer’s front door), but these supply chains are often managed with spreadsheets, paper and pen.
Algorithms that manage delivery routes or dispatch drivers automatically “are almost unheard of in Latin America’s retail logistics industry,” says Bob Ma, an investor at WIND Ventures.
But thanks to growing consumer demand and expanding investment in last-mile delivery startups, Ma says the region is at a tipping point.
Given that Latin America’s middle class has grown 50% in the last decade and e-commerce makes up only 6% of all retail, several unicorns have emerged in recent years, with more waiting behind the scenes.
(Extra Crunch is our membership program, helping founders and startup teams get ahead. You can sign up here.)
Big Tech Inc.
Let’s start with the transportation news and then talk about the rest of Big Tech.
Daily Crunch asked TechCrunch transportation guru, and generally great person, Kirsten Korosec, why there was so much news today of his pace. “I have no idea why, just make it stop,” he joked, before adding that “you can say that with so many automakers committing to move to all power lines, we can expect more announcements on how they plan to make sure have battery capacity and other raw materials. “
Here’s the news:
- Rivian sets her sights on the second factory: Fresh from production delays, electric vehicle company Rivian is planning for the future in the form of another factory. The company admitted that it was in the process of searching for a second plant. Our reading? This electric car thing isn’t slowing down.
- Speaking of what, Tesla will source nickel directly from commodities giant BHP. It will be the Hunger Games for the raw materials needed for electric cars if the market evolves as expected. Tesla wants to make sure it doesn’t run out of supplies.
- How much demand are we talking about? Well, Mercedes is going to build eight … eight! – battery plants. Now that we’ve read the news, the idea makes sense, but it still made us sit down and consider its implications. The days of the internal combustion engine are coming to an end.
- Uber buys Transplace for $ 2.25 billion: To complete our mobility roundup, Uber is making moves with its checkbook, this time buying Transplace, a digital logistics company, for a few billion. The effort will fit into Uber’s bigger cargo aspirations. The company has said that it intends to achieve adjusted profitability this year.
- Meanwhile, Waymo announced that it will open an office in Pittsburgh, where you will undoubtedly put even more pressure on an already competitive talent recruitment process.
And from the rest of the world of giant tech companies:
- Spotify and Giphy join forces: Er, have you wanted GIFs in your music player? Well, good news if so: Spotify has “a new partnership with the online GIF database GIPHY to enable discovery of new music via GIF.” Cool?
- Microsoft buys CloudKnox: Microsoft’s push to provide cash returns to all cybersecurity-focused venture capitalists continued today, with the Redmond-based software giant buying CloudKnox. It’s the fourth deal this year for a smaller startup focused on Microsoft’s cybersecurity.
- Visa buys Currencycloud: Visa, which is probably still suffering a bit from its inability to buy the fintech API provider Plaid, is busy buying other companies. This time it is Currencycloud, which builds other Fintech API. Joking aside, the deal will bring the smallest company’s money transfer and remittance technology to Visa for just under $ 1 billion.
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