Kenzz, an Egyptian e-commerce platform for the mass market, grabs $3.5M seed funding

Kenzz, an e-commerce platform bringing shopping to the mass market in Egypt and MENA, is announcing that it has raised $3.5 million in seed funding. U.S.-based and MENA-focused venture capital firm Outliers Venture Capital led the round. Some of the participating investors include HOF Capital, Foun

Daily Crunch: Kanye West reaches agreement to acquire social media platform Parler

To get a roundup of technewss's biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Greetings from the technewss office! Yes, it turns out we have an office, even though we haven't seen the inside of it for a good long stretch. We are here d

2023 VC predictions: Finding an exit from the ‘messy middle’

To predict what 2023 will look like for venture capital, we need to start by understanding where we are now. We’re entering a messy middle where prices continue to drop and the “2021” deal, industry slang for an investment made at an exorbitant price, is long gone. Companies can no longer

Shares of Korean internet giant Kakao slide after fire disrupts service

The stock price of South Korea’s internet giant Kakao tumbled on Monday after a fire at a data center that cut off power on Saturday, causing several service malfunctions. The blaze at the SK C&C data center, which houses the servers of Korea’s two largest internet companies —

Meta announces legs, Hulu raises prices, and Microsoft embraces DALL-E 2

Hi, friends! It’s time for another edition of Week in Review, the newsletter where we quickly recap the most read technewss stories from the past seven days. Want it in your inbox every Saturday morning? Sign up here. most read LEGS: The company formerly known as Facebook held its Meta Conne

The highs and lows of Q3 venture capital data for women startup founders

Perhaps unsurprisingly, new PitchBook data found that U.S. companies with all female founders are raising less capital this year than the last amid current economic woes. Last year, women raised around 2.4% of all venture capital allocated, a figure that stands at 1.9% through Q3 of this year. That

Resonance is a new $150 million VC fund based in Paris

There's a new VC fund in town — at least if you live in Paris. Meet Resonance, a new $150 million fund (€150 million) backed 100% by Otium Capital. You may already be familiar with Otium Capital. It is Pierre-Edouard Stérin's family office. Back in 2003, Stérin co-founded Smartbox Gro

Royalty-backed Lightrock packs $834 million into its first climate fund

Lightrock, the London-based backer of neobank Niyo and “wood modification” company Kebony, has secured about $834 million (€860 million) for a new fund focused on climate tech. The private equity and venture firm plans to pump the money into startups in areas such as clean energy,

Founders shouldn’t bet on a Q4 venture capital resurgence

For the first time in years, it felt like venture capitalists slowed their cadence this summer. In days of yore, such “summer slowdowns” were par for the course, as investors took long holidays in August, leading to a general paucity of VC activity. Then the market went nuts for a few y

Veeve bags $6.7M to turn shopping carts into smart ones

Shariq Siddiqui spent nine years at Amazon, the last bit bringing Alexa on as an identity for brick-and-mortar stores. It was while doing that he was involved in some of Amazon's initiatives, for example, its Amazon Go walk-out shopping concept. However, Siddiqui told technewss that he was not

NextView Ventures' new $200 million fund comes with a slice of San Francisco

Adding a partner is no joke. Well, at least if you want it to be equal. NextView Ventures announced today that it has raised a $200 million venture fund, its largest to date, split between an early-stage vehicle, at $135 million, and an opportunity vehicle, at $65 million. The fund also brings on S

Foodology's cloud kitchen concept gains foothold across Latin America

Cloud kitchens became popular during the global pandemic as a way for restaurants to reach their communities when people were not going out as much. One of those was Foodology, a Colombia-based cloud kitchen and virtual restaurant company, co-founded by Daniela Izquierdo and Juan Guillermo Azuero i

‘Last year was the party. This year is the hangover.’

Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you're reading this as a post on our site, sign up here so you can receive it directly in the future. Every week, I'll take a look at the hottest fintech news of the p

Daily Crunch: Binance admits hackers used cross-chain bridge to steal at least $100M

To get a roundup of technewss's biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Friday! How's that for brevity in newsletter introductions? Let's get to it so we can crack open a Liquid Death and let the week sag off i