Welcome to Startups Weekly — your weekly recap of everything you can’t miss from the world of startups. Sign up here to get it in your inbox every Friday.
This week, I delved into the story of a Norwegian hardware startup with a complicated cap table that was deemed uninvestable by multiple investors. Fortunately, they received advice on how to rectify the situation.
I also investigated a Turkish startup that secured a $4 million funding round, highlighting the impact of import taxes on its operations and the economic incentives created by such levies.
In a sudden flurry of acquisition news, I covered Nikon’s purchase of cinematic camera company RED and Lensrentals’ acquisition of rival BorrowLenses in the photography space.
But that’s not all!
Most intriguing startup stories this week
Image Credits: udemy
Introducing the latest installment in our occasional miniseries “Micromobility Melodrama!” Cityscoot, once a trailblazer in shared electric mopeds in Paris, has undergone a court-approved acquisition by Cooltra. Amid financial difficulties, Cityscoot’s 0% interest rates turned problematic, leading to its acquisition for €400,000 by Cooltra, ensuring a seamless transition for users.
In the e-commerce aggregator arena, Razor Group and Perch have forged an alliance, unfazed by Thrasio’s recent downfall. With $100 million in funding and a solid foundation, they aim to compete in the Amazon-dominated market.
Other highlights include:
Successful merger in customer success: Totango and Catalyst unite through a stock merger rather than a cash deal.
Surprising acquisition: Accenture acquires Udacity, a longstanding learning platform, to enhance workforce digital skills with AI.
Latest information: Anthropic’s chatbot showcases limited knowledge extending only up to 2021.
Noteworthy fundraising activities this week
Image Credits: Getty Images
In the competitive HR tech landscape, Remofirst secures a $25 million Series A funding to simplify global hiring processes across 180 countries. Monzo, the London fintech standout, raises $430 million, cementing its $5 billion valuation despite past challenges.
Additional highlights include:
Raising capital for enhanced security: Axonius raises $200 million to bolster digital asset monitoring in enterprises.
Pioneering AI in the workplace: Ema emerges from stealth mode with a $25 million fund to revolutionize AI employee solutions.
Tourism tech resurgence: Mews secures $110 million for its hotel technology concierge service, valuing the company at $1.2 billion.
This week’s major trend: Lawsuits and Musk
In the ongoing saga of Elon Musk, the tech magnate faces legal battles over Twitter’s executive shakeup and OpenAI’s alleged profit-seeking motives under Microsoft’s influence.
Grab your popcorn for:
Other notable TechCrunch stories…
Here are some intriguing stories that may have slipped under the radar this week:
Roku’s arbitration clause surprise: Roku users must agree to new terms to use their devices, causing an uproar.
Messaging gateway mishap: YX International’s SMS hub security lapse exposes millions of texts worldwide.
Meta’s social media blackout: Facebook, Instagram, and Threads suffer an outage during the U.S. primary elections.
Apple’s developer account termination: Apple terminates Epic Games’ developer account amid ongoing disputes.
Airbnb’s badge of shame: Airbnb introduces a low-performer badge signaling below-par accommodations to users.
