- KillerStartups Newsletter
- Spotify CEO Started a New Company?!?
Spotify CEO Started a New Company?!?
Fintech and Health-Tech: Funding and Expansion News Roundup
KillerStartups Weekly Newsletter is back after a small break!
Hope all of the United States followers had a Happy Independence Day 🇺🇸 last week!
Again, welcome and thanks for the support as we grow this massive startup community. Our goal is to connect startup founders around the globe!
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The Usual Lineup:
Tweet of the Week
Meme of the Week
Notes from The Staff
Other Newsletter Recommendations!
Weekly Poll Question
Will heavy handed AI regulation kill business opportunity?
News Picks of the Week
Japanese B2B marketplace startup CADDi has raised $89 million in a Series C funding round to address supply chain challenges in the manufacturing industry. The company offers solutions such as CADDi Manufacturing for parts procurement and CADDi Drawer for managing drawing data using AI technology.
With a focus on optimizing pricing, reducing procurement costs, and improving delivery reliability, CADDi plans to scale its operations, enhance its platforms, and expand its workforce, particularly in the United States.
The company aims to achieve $10 billion in revenue from CADDi Manufacturing and $1 billion from CADDi Drawer by 2030, while also targeting the US market and addressing industry-wide issues such as labor shortages and fragmented systems.
Massive Valuation Cut of PharmEasy - TechCrunch
Indian online pharmacy startup PharmEasy is reportedly planning to raise around $300 million in a new funding round at a significant markdown of 90% from its previous valuation.
This funding comes at a time when some investors are urging the startup to explore a sale. PharmEasy aims to secure the new capital to repay its lender, Goldman Sachs, which provided a loan of about $285 million last year for the acquisition of a majority stake in Thyrocare. The company had previously filed for an $843 million IPO in November 2021 but later postponed the plan.
Healthcare group Manipal is said to be leading the funding round, while PharmEasy's valuation is expected to drop to approximately $500 million to $600 million if the proposed terms materialize, making it the first major Indian unicorn to raise a down round.
VISA acquires a Brazilian Fintech Startup - TechCrunch
M&A activity in the fintech sector made headlines this week, with Ramp acquiring customer support startup Cohere.io and Visa completing a $1 billion acquisition of Brazilian fintech startup Pismo.
Ramp's acquisition of Cohere.io brings AI-powered customer support capabilities to its platform, improving ticket resolution and automating responses. Visa's acquisition of Pismo enhances its issuer processing capabilities and enables connectivity to emerging payment rails in Brazil.
Additionally, Brex, a fintech focused on startups, announced its recommitment to the startup community by hiring a former operating partner at Andreessen Horowitz to lead its startup-focused initiatives.
Furthermore, Maza, a fintech startup, secured $8 million in funding to provide financial services and support to undocumented immigrants in the US. The startup aims to offer them a stable and legal financial foundation to build credit and wealth.
SPOTIFY CEO Gets Into Health Diagnostics - Bloomberg
Swedish medical diagnostics company Neko Health, co-founded by Spotify CEO Daniel Ek, has raised €60 million ($65.4 million) in a venture capital funding round to expand beyond Sweden.
The investment was led by VC firm Lakestar, with participation from Atomico, General Catalyst, and Skype co-founder Niklas Zennstrom. Neko Health operates private clinics equipped with its proprietary full-body 3D scanner and AI software, providing instant results for skin conditions and cardiovascular health.
The company plans to use the funding to open clinics in other European countries, including the UK, and aims to build a healthcare system focused on prevention and patient care.
Tweet of the Week
VC funding ≠ startup success.
Most startups don't need it. Seek these options:
2. Angel investors
Success is more than $$ - think impact, satisfaction, and legacy. 🚀
What are your preferred funding alternatives?
— Wil Schroter @Startups.com (@wilschroter)
Jun 30, 2023
Meme of the Week
KillerStartups Mission: is to help entrepreneurs achieve the next big thing. Our role is to connect you with founders that you can help, and founders that can help you!
When we featured Uber back in 2010, Founder Travis Kalanick might have still been your driver.
Uber went on to raise their first $1.6MM 3 months after we featured them. $4.9B later, we are still proud to have discovered them.
Our question to you is: How can YOU help these companies?
Interesting in advertising to a large audience of startup founders and entrepreneurs? 🚀
Contact [email protected] for more details!
Notes From KillerStartups Staff 👀
Our team is proud to see KillerStartups growing into a large startup community. We plan to bring new resources, groups, and more as we continue to grow into our mission. Thank you all for your continued support.