Tech
Egyptian venture capital firm Algebra Ventures hits first close of second fund at $100M
Last April, Egyptian and MENA-focused venture capital firm Algebra Ventures announced the launch of its $90 million second fund. It was the sequel to its first: a $54 million fund invested in 21 startups across Egypt and the Middle East. While Algebra Ventures predicted it would reach its first close in Q3 2021, the firm … Read more
GIC backs Indian EV startup Euler Motors in $60 million funding
Euler Motors, an Indian startup that designs and builds commercial electric vehicles, has raised $60 million in a new funding round as it works to ramp up its production capacity and broaden its offerings. Singapore’s sovereign fund GIC led the New Delhi-headquartered startup’s Series C funding. Blume Ventures, Athera Venture Partners, QRG, ADB Ventures and … Read more
The HTML5 Shiv (2011)
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Activision Blizzard illegally withheld raises from unionizing workers, labor board finds
Gaming giant Activision Blizzard unlawfully retaliated against workers at Raven Software who formed a union, the National Labor Relations Board found. The quality assurance (QA) department at subsidiary Raven Software, who mostly work on “Call of Duty,” announced that they would form a union in January. Activision Blizzard sought to block the union, reasoning that … Read more
Drowning in trash: Google opens applications for circular-economy accelerator
Google is spinning up a new, online-only startup accelerator centered around the elusive circular economy. The effort is Google’s latest to help environmentally focused startups grow, while potentially hooking them on its cloud products in the process. In the broadest of strokes, the circular economy represents a colossal shift in how humanity makes and uses stuff. … Read more
Bessemer backs SaaS platform that automates billing workflows
Zenskar, a startup that is aiming to help SaaS companies automate their billing workflows, has raised $3.5 million in a seed funding round. Headquartered in New York and Bengaluru, Zenskar is building a platform for SaaS companies to generate bills for their complex pricing plans — whether they are based on usage-based pricing, subscriptions, nuanced … Read more
Elon Musk steps in it — “F#ck off is my very diplomatic reply to you”
Elon Musk today waded into the Ukraine-Russia war with a peace plan that was . . . not very well-received. It may have been a tactic to distract industry watchers from Tesla’s third-quarter vehicle production and delivery numbers for 2022, which fell short of analysts’ expectations. But it was a knuckle-headed tactic if so, and … Read more
UK pauses data reform bill to rethink how to replace GDPR
The UK government has confirmed another pause to draft digital legislation under new prime minister Liz Truss’ reshuffled cabinet — saying the data reform bill it had introduced in recent months is on hold while ministers take another look. The paused bill contained a package of amendments to the UK’s data protection regime, which remains based … Read more
Naver agrees to acquire fashion marketplace Poshmark for $1.2B
Naver, the South Korean search giant, today announced it plans to acquire secondhand apparel marketplace Poshmark for $1.2 billion in cash. The deal values publicly-traded Poshmark’s shares at $17.90 — a 15% premium over today’s closing price — and the companies expect it to close by Q1 2023, subject to approval by Poshmark stockholders and … Read more
John Curtius is leaving Tiger Global to start his own venture fund
John Curtius, the prolific Tiger Global senior partner who has been at the center of some of the firm’s biggest deals in the last several years, is leaving the firm, TechCrunch has learned. He will be leaving to start his own firm, which will concentrate investments from Series A to Series C. Curtius will stay … Read more
Here’s why you couldn’t see anything on House of the Dragon
This still is not from last night’s episode, which is one reason you can see what is happening. | Image: HBO Things got dark on House of the Dragon last night as characters stole dragons and other characters made super incestuous life choices. And all of it was done under the cover of darkness, leading … Read more
Daily Crunch: Vice Society hackers post 500GB of data stolen from LA school district to dark web
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. Oc-flippin-tober? You’ve got to be mock-tobering us. It’s a sobering experience, though, to see the who-ber year fly by like that! Ahem. Forgive the incoherence, we are entering TechCrunch Disrupt silly season … Read more
Max Q: Hubble hubble, toil and trouble
Hello and welcome back to Max Q. I hope all of our Florida readers stayed safe during Hurricane Ian — thinking of you guys. In this issue: How the Space Coast braced for the storm Humans: 1, Asteroids: 0 News from Astra, Firehawk Aerospace and more By the way…We are just a few weeks away … Read more
The Supreme Court takes on Section 230
Section 230 of the Communications Act, which prevents online platforms from being liable for the content posted by their users, will be evaluated by the Supreme Court in the coming season. It’s anyone’s guess how it may be affected, but we can be sure that the regulatory landscape for tech will look rather different this … Read more