Startups

U.S. cybersecurity giant Rapid7 has announced plans to lay off 18% of its workforce, affecting more than 400 global employees. In a regulatory filing, the Boston-based cybersecurity company said its restructuring effort is “designed to improve operational efficiencies, reduce operating costs and

Atmosfy, an app that helps you discover restaurants and local businesses through short-form videos, has raised $12 million in seed funding led by Redpoint Ventures. The app lets you explore dining, nightlife, hotels and more by browsing quick videos from locals and visitors. Atmosfy is designed to

The concept of having a runway has its own set of maxims for startup founders. Investors we've interviewed generally agree that a successful fundraise should leave a startup with 18 to 36 months of capital, and by the time a startup has around 9 to 12 months of cash, it should start raising its

Sendy, a Kenyan logistics startup that enabled retailers to purchase FMCGs directly from manufacturers, among other services, is shutting down its operations and exploring a sale of its assets, technewss has learned. Meshack Alloys, Sendy co-founder, confirmed the sale to technewss without offeri

Throughout the late 2010s and early 2020s, the autonomous vehicle industry captured the imagination of the startup community and the public. However, the category's meteoric rise preceded an even more meteoric fall over the last 18 to 24 months. From 2018 to 2021, investments in the AV sector a

After a few quarters of going turtle, SoftBank has started ramping up its investing cadence again. Once one of the most active and visible investors in startup land, the Japanese conglomerate is itching to get back into the fray, unlike some other investors that spent heavily only to retreat from

In the latest example of a startup getting caught taking Silicon Valley's “fake it until you make it” ethos far beyond the realm of ethics, events planning app IRL was recently sued by its own investor, SoftBank, after an investigation revealed that 95% of the app’s users were

India’s popular online gaming and fantasy sports startup Mobile Premier League is reducing its staff by approximately 50%, two people familiar with the matter said, weeks after New Delhi unveiled a 28% tax on online real-money games. The Bengaluru-based startup, valued at $2.2 billion, initia

Chargeflow, a startup using AI to fight chargeback fraud, today announced that it raised $11 mlion in a seed round led by the VC firm OpenView Venture Partners. The tranche buds on Chargeflow’s previously undisclosed $3 mlion seed round closed several months ago, bringing the startup’s

Svatantra Microfin has reached an agreement to acquire Navi Group’s microfinancing unit Chaitanya India for about $178.5 million, the two firms said Tuesday, latest in a series of events at entrepreneur Sachin Bansal’s firm that has struggled to secure a banking license. Svatantra said

Proptech startup Dongnae said Tuesday it plans to acquire Stevens, a South Korean company that operates co-living business Dears. The two companies did not disclose the acquisition price, but Dongnae said it will purchase Stevens with a mix of cash and equity. The Seoul-based proptech outfit previ

Venture capital funding to the cultivated meat industry has largely followed other industries in fewer investments made this year; however, there's still movement in this sector yet. Here in the United States, cultivated meat companies saw regulatory doors open widely after the Food and Drug Ad

Without informing their board, a certain startup had amassed $150,000 legal fees in just three months. The investor team I was part of grilled the founder to explain why. He told us the fees were for documents involving business formation, funding, various agreements, and intellectual property regi

Silicon Valley Bank's nosedive has soured many on venture debt, and for early-stage companies, it bears being cautious. As an option for growth-stage companies with more predictable cash flow, however, things may be a little different. technewss+ spoke with David Spreng, founder and CEO of Run