Daily Crunch: Bangalore-based, SME-focused neobank Open raises $100M Series C

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Hello and welcome to the Daily Crunch of October 12, 2021. The fourth quarter so far has been good fun. We have plenty of IPO filings and, as you’ll see below, more startup news than you can shake a stick at. heck, apple is one more The event is coming. So much for the fourth quarter slump, yes? – alex

Nerdshala Top 3

  • Coinbase joins the NFT game: Early crypto-marketplace pioneer Coinbase is following smaller rivals in the non-fungible token (NFT) game. NFTs have seen a surge in their popularity in recent months as speculation regarding blockchain-specific proprietary signatures for digital images intensifies. People are campaigning for JPG, as they say, and Coinbase, which generates the bulk of its revenue from transactions, does not want OpenC to win the NFT market. Ironically, Coinbase was famously backed by a16z, which is also an investor in OpenSea. It’s spicy.
  • The unicorn traffic jam is only getting worse: New data on the Q3 venture capital market makes it clear that more capital is being pumped into global startups than ever before. One consequence of the financial cataclysm is that more unicorns are being produced than ever before. And that leads to a long jam of private unicorns yet in need of a final exit. Nerdshala dug into what could be wrong.
  • Soon all blogs will be newsletters: Substack’s success in creating a better-known payments-newsletter economy continues to attract rivals. This time it’s a Patreon product, Memberful. Unlike Substack, Memberfull will take a small cut in author revenue, which will be balanced with a flat-fee structure. For people with the following, the savings can add up.

Startups/VCs

Our pioneering startup story today news is Neobank of India Open raises new capital, partly from Google. Any large market with increasing digital penetration and a population that is not fully banking will be fertile ground for neobanking startups. India appears to be one such market, if recent fundraising results from the Open are any indication. According to Nerdshala reporting, it put away just $100 million at a valuation of $500 million. Temasek led the round, which also included funds from Google and Tiger.

  • Privateer Space Trash wants to detect: Incidentally, “Space Trash” is also my favorite genre of novel. Regardless, Privateer wants to help locate and map the waste in orbit around the planet. It is a known fact that there is a lot of rubbish flying around the planet. precisely Where However, at any point this erosion is less clear.
  • Big bucks for AI chips: The global silicon market may be a hot mess at the moment, but Halo isn’t letting it out. The AI-focused chip company just raised $136 million at a valuation that’s around $1 billion, Nerdshala reports. Different computing workloads perform better on different chip designs, in case you were curious why Intel isn’t crushing the global AI chip market. Just don’t expect the global chip shortage to end anytime soon.
  • Atomic Payroll Build API: The banking-as-a-service world is hot, and startups are diving into new areas of the financial market to bring more of it into the modern era. Atomic is one such startup. Its product helps consumers link their income streams to various services and verify both their employment and payment data.
  • SoWork is betting that virtual co-working is here to stay: Tired of working from home, alone? SoWork thinks you might be. The virtual co-working startup just raised $15 million. How you feel about Virtual Hangs depends on how comfortable you are on long-form audio calls — gamers are already accustomed to it — but it’s neat to look at companies like SoWork, because Some companies begin a slow march to the offices.
  • MentalHappy seeks to combat mental health with target groups: Even if you have insurance, getting a therapist is just as much fun as arguing with your insurance company. Maybe because it often involves exactly that. MentalHappy is a startup that isn’t quite ready to solve the therapist shortage — or the high cost of therapy. Instead, for a low monthly fee, it offers peer support groups. To be honest, I dig it.
  • EngFlow wants to speed up application compilation: look at this Humor Wouldn’t exist if the code didn’t take a minute to compile. Sadly, EngFlow wants to remove the engineered equivalent of a smoke break by reducing the compilation interval. And it just raised a few million rupees for its efforts.
  • Plum’s Mesh Wi-Fi Service Raises $300M: Here’s a company we probably should have taken note of earlier today. Plum “is a communications startup that provides smart mesh Wi-Fi with carriers to improve broadband connectivity in homes, and then other smart home services on top of that network,” per Nerdshala. And now it’s worth about $2.6 billion. Who knew!
  • And finally, Getting in the Canva Video.

Selling in the venture: How Slack and other startups get it wrong

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Going up against large venture companies can be tough for startups, but Script CEO and co-founder Jennifer Smith says you’re never too small to start.

To their detriment, many early-stage companies wait too long to strategize to compete with industry leaders, she writes. One example: Twelve years after it was founded, Slack exited Salesforce for $27.2 billion.

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“The question is, if Slack had considered selling into the venture sooner, could it have survived as an independent public company?”

(Nerdshala+ is our membership program that helps founders and startup teams grow. You can sign up here.)

Big Tech Inc.

  • Google flips script, demands cash from Epic: As gaming company Epic takes both Google and Apple to court, it’s showing how long it can be ahead of companies breaking the status quo in the operating-system-locked application marketplace. Apple is appealing a minor ruling, and Google is now seeking financial relief from the Fortnite maker.
  • a Nerdshala guest post on Apple Fitness+. dug into the UI, which I really enjoyed.
  • Twitter is launching an audio accelerator for its Clubhouse-competing Spaces product: Here at Nerdshala, we honestly like Twitter Spaces because they’re easy to spin up and live in where we already spend a lot of time. It will be remarkable to see which service can attract and retain the most in-demand talent over time.

Nerdshala Expert

image credit: Sean Gladwell/Getty Images

We recently added another vertical to the Expert Project! If you have a software consultant you think other startup founders should know, fill out the survey here.

Read one of the testimonials we received below!

Consultant: arbisoft

recommended by: Omri Traub, CEO popkart

Testimonial: “We were able to build a high-performing dev team that includes Dev, QA and DevOps. We had access to top talent and, importantly, flexibility in hiring. If we wanted to add a developer, we You can add an incredible person to your team in under a week. It would have taken us weeks and months to find and hire a developer in Boston or the US.

Community

The Wires of War book cover

image credit: Simon & Schuster, Inc.

Join Danny Crichton on Thursday, October 14th at 2pm PDT/5pm EDT Twitter Space Interview with Jacob Helberg, author of “War Wires” Which will be released tomorrow.



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