Author: azeeadmin

06 Sep 2018

ShipBob brings in $40M to help e-commerce businesses compete with Amazon

Nowadays, those of us who shop for everyday goods online are accustomed to said goods arriving on our doorstep 24 to 48 hours after we click ‘buy.’ That’s because of Amazon; the e-commerce giant’s next-day delivery feature is a sweet, sweet deal, but for smaller e-commerce businesses that are trying to compete with Jeff Bezos it’s, well, tough.

ShipBob is here to help. The Chicago-based startup has raised a $40 million Series C to help small e-commerce businesses streamline the fulfillment process and manage inventory.

The company was launched through Y Combinator in 2014 by CEO Dhruv Saxena and Divey Gulati, a pair of engineers that met after college.

“Once we graduated, we thought up this e-commerce store and we were able to automate basically everything in the operation except for shipping and logistics,” Saxena told TechCrunch. “We realized none of the existing solutions out there worked. So, we applied to Y Combinator with this idea that there has never been an easier time to start an e-commerce brand online and these brands need shipping, logistics and back office solutions.”

ShipBob previously raised a $5 million Series A in 2016 and a $17.5 million Series B last year.

Menlo Ventures led the latest round and was joined by existing investors Bain Capital Ventures, Hyde Park Venture Partners, Hyde Park Angels and Y Combinator. As part of the deal, Menlo partner Shawn Carolan is joining ShipBob’s board of directors. 

“We love how ShipBob lets smaller, creative merchants affordably offer fast shipping across the country,” Carolan said in a statement. “Customers want what they want, and they want it fast, and it takes serious technology to make it look easy.”

 

06 Sep 2018

Hu-manity launches app giving consumers legal control over medical data

Hu-manity wants to change the way we share data by giving people legal ownership with contractual enforcement handled on the blockchain. The first foray will be with medical data, and today the company debuted the #My31 app in Google Play and the Apple App Store.

The name refers to the company’s core belief that data ownership should be a human right. The current United Nations Declaration of Human Rights include 30 core principles. The startup is exploring the idea of making data ownership the 31st human right central to its approach and how it markets the service.

When users download the app, they can sign up for the service and set the terms and conditions of how they use their data. You may be thinking that you already control your medical data, but you’re only partly right. Medical information is protected in the U.S. under HIPAA (Health Insurance Portability and Accountability Act), but Hu-manity CEO and co-founder Richie Etwaru says that this information is being sold by a number of third parties in an anonymized fashion today, whether we know it or not.

Hu-manity’s goal is to give app users the ability to set terms of data sharing, defining who can use it, and under what conditions, even getting paid for giving access. So for example, you could decide a particular drug company could use your data, but only for a single trial for a given price, and it couldn’t sell your data to another party after the trial ends.

When you claim ownership to your data, the company assigns you a title, a legal document and all that entails.

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The app uses the blockchain as an enforcement component for these rules. It chose Hyperledger Fabric as its underlying blockchain technology running on the IBM cloud. Etwaru says that they chose IBM for both technical and business reasons. “Launching with IBM brings credibility and validation to the notion that data should be human property,” he said.

As IBM’s Jerry Cuomo said, “If data is gold, then people have been stealing the gold.” A service like Hu-manity lets users define smart contracts on how to use the data, get compensated for it and enforce it all on the blockchain.

Today’s launch represents just one part of the company’s overall strategy that would require people to sign up for this app, and later for organizations like data brokers and pharmaceutical companies to join in to buy access to it.

In fact, Etwaru claims that these companies are very much on board with this idea already. Consider that they are paying for data today that is often bad or incomplete with no means to contact the data source directly. A service like Hu-manity while restricting how they use the data, would allow them to have a relationship with the owner that is lacking today, and that’s very attractive to these organizations.

Etwaru doesn’t expect this to take off like gangbusters from Day One, although he would surely be happy if it did. Instead, he sees this as a kind of movement and he hopes it will build slowly but surely, by word of mouth.

The movement metaphor will work a bit like a Kickstarter project where the first people to sign up will get access to rewards. For instance, the first 25,000 sign ups will get a premium printed title delivered to their homes for their records. By the time they reach a million users, they believe that will be enough people to represent the first cohort of users and they can begin to negotiate a cost structure with data buyers.

All of that is still down the road for now, and today’s consumer app represents the first step in what Hu-manity hopes will be a major change in how we view data ownership.

06 Sep 2018

Southeast Asia’s Fave raises $20M and adds mystery strategic investor from China

So you thought group-buying was dead?! Not in Southeast Asia where Fave, a company that aims to connect local merchants with customers using discount sales, has closed a $20 million Series B round as it explores expansion opportunities.

The startup began as fitness subscription service KFit, but it pivoted group-buying and coupons after it acquired Groupon’s businesses in Singapore, Malaysia and Indonesia. KFit continues to run, but the Groupon deal saw Fave CEO Joel Neoh return to the e-commerce space — Neoh previously started Malaysia-based GroupsMore which Groupon acquired within months of launch. He then went on to lead Groupon’s operations in Asia before leaving to start KFit in 2015. Fellow KFit/Fave co-founder Yeoh Chen Chow also spent time with Groupon as its regional operations director in APAC.

Groupon said that its new round was led by existing backers Sequoia India, SIG Asia Investment and Ventura Capital, although Neoh told TechCrunch that it also took money from a “strategic” investor based in China. Neoh declined to provide the Chinese investor’s identity, other than to say that it is “a major player.”

We weren’t able to pin down the identity of the company, but one source suggested that it may be Meituan Dianping — the ‘super app’ service that is gearing up for a Hong Kong IPO that could reportedly value it as high as $55 billion. Meituan is actively exploring investment opportunities in Southeast Asia, and it has already backed ride-hailing firm Go-Jek through a strategic investment.

Combined, Fave and KFit have raised a total of $35 million following the announcement of today’s round.

Fave said it works with “tens of thousands” of offline businesses across Singapore, Malaysia and Indonesia, with some three million app downloads to date. In a press announcement, the company said it will “drive over US$100 million in revenue” to its partner businesses in 2018, but Neoh told TechCrunch in an interview that the figure is likely to be “nearer” to $150-$200 million by the end of this year. That’s not take-home revenue, however, since Fave takes a cut of transactions from its retail partners. Fave didn’t disclose a figure for its take-home revenue.

Neoh said that Fave plans to use the capital to expand its focus on mobile payments and develop more ‘merchant-friendly’ services and solutions. The company offers services that range from restaurant bookings and food, to beauty, fitness, activities and more, but Neoh wants to go beyond that using partners.

Meituan — which sets the bar for online-to-offline services — takes the majority of its revenue and transactions from food deliveries. Fave doesn’t offer that right now — Neoh acknowledged that there’s already a wealth of services that do — but it plans to try to strike partnerships with firms like Grab, Go-Jek, FoodPanda and others who already do. The pitch to service providers, the Fave CEO hopes, is that the platform already has merchants and restaurants which can bring value to the third-parties if they integrate with Fave.

Rather than focusing on consumers, Fave wants to dig deeper into F&B partners and help merchants connect to service provider partners to expand the services they can offer. But rather than having to juggle the demands of multiple services for food delivery, for example, Neoh believes Fave can aggregate those channels and offer it via one service, its own.

“Instead of competing with them on that front, it’s a more collaboration model,” Neoh said. “Over the next three to six month, we are looking to collaborate and work with merchants. Food delivery and other services that we don’t offer would be a natural next step to offer to merchants.”

The startup is also beginning to look at overseas expansion opportunities in Southeast Asia, the region with a population of over 650 million consumers. That is likely to happen in 2019, Neoh confirmed

As for KFit, he said the service is still running with an independent team. It remains profitable and it isn’t a distraction, he added, so it’ll likely continue to be run by Fave.

“But if there’s a [potential] partnership with ClassPass [which recently launched in Singapore] or someone else wants to do that, then we’ll look at it,” Neoh added.

06 Sep 2018

Location marketing platform Uberall raises further $25M and acquires competitor Navads

Berlin-based location marketing startup Uberall has raised a further $25 million in funding — adding to a $25 million Series B raised earlier this year — and acquired competitor Navads. Terms of the acquisition remain undisclosed, with Uberall claiming that the deal makes it the second biggest location marketing platform behind U.S. rival Yext.

Navads is described as an industry leader in listings and location data management, specializing in mobile navigation, autonomous vehicles and voice search. Its technology is used by more than 800 brands across four continents, including global companies such as Shell, BP, and McDonald’s, which Uberall now has access to. Overall, post-acquisition, Uberall covers nearly 700,000 locations for over 1,500 customers globally.

Founded in 2013 by David Federhen, Florian Hübner, and Josha Benner, Uberall offers a Software-as-a-Service for SMEs and larger companies (who have multiple stores) to manage their various location marketing across all of the various platforms, from search and directories, to maps and sat-nav.

These span search engines and local directories such as Google, Where To?, Scoot, 192, Opendi, and Hotfrog, and online maps such as Bing, Google Maps, HERE (ex. Nokia) and Apple Maps. In addition, social products that have a location element are also supported, including Facebook, Foursquare, Yelp, and Instagram, as well as navigation services, such as Uber, Waze, and in-car sat navs (mostly powered through HERE), Navmii, and TomTom.

“We’ve known Navads, and especially the executive team, for a long time. Their customer base, knowledge and network in the global mapping industry will greatly contribute to the impact Uberall has on local businesses,” says Florian Huebner, co-CEO of Uberall, in a statement. “In partnering with them, we manifest our position as a global leader for local marketing and emphasize our presence in the U.S., where Navads has seen considerable growth”.

Meanwhile, to support the acquisition, Uberall has secured an additional $25 million investment as an extension of February’s Series B round. The new capital brings the Series B round to a total of $50 million. Existing investors HPE Growth Capital, Project A, and United Internet all participated in the $25 million extension, which was led by HPE Growth Capital.

06 Sep 2018

Facebook is opening its first data center in Asia

Facebook is opening its first data center in Asia. The company announced today that it is planning an 11-story building in Singapore that will help its services run faster and more efficiently. The development will cost SG$1.4 billion, or around US$1 billion, the company confirmed.

The social networking firm said that it anticipates that the building will be powered 100 percent by renewable energy. It said also that it will utilize a new ‘StatePoint Liquid Cooling’ system technology, which the firm claims minimizes the consumption of water and power.

Facebook said that the project will create hundreds of jobs and “form part of our growing presence in Singapore and across Asia.”

A render of what Facebook anticipates that its data center in Singapore will look like

Asia Pacific accounts for 894 million monthly users, that’s 40 percent of the total user base and it makes it the highest region based on users. However, when it comes to actually making money, the region is lagging. Asia Pacific brought in total sales of $2.3 billion in Facebook’s most recent quarter of business, that’s just 18 percent of total revenue and less than half of the revenue made from the U.S. during the same period. Enabling more efficient services is one step to helping to close that revenue gap.

Facebook isn’t the only global tech firm that’s investing in data centers in Asia lately. Google recently revealed that it plans to develop a third data center in Singapore. The firm also has data centers for Asia that are located in Taiwan.

06 Sep 2018

Atomico’s Yann de Vries joins flying taxi company Lilium as VP Corporate Development

Perhaps the one downside to building a venture capital firm filled with operational experience is that you can’t always keep an operator out of the action for too long. Or so it seems, if the latest VC move at London-based Atomico is anything to go by.

Atomico Partner Yann de Vries — who led investments in Teralytics (Switzerland), GoEuro (Berlin) and Jobandtalent (Madrid) — is joining Lilium, the super ambitious Munich-based startup developing an electric vertical take-off and landing (VTOL) jet and accompanying “air taxi” service.

Specifically, he takes up the position of VP Corporate Development at Lilium, tasked with helping the company with long-term partnership development and investor relations.

De Vries joined Atomico four years ago from Redpoint e.ventures, a leading VC fund in Brazil, where he was a Managing Director and co-founder and led investments in Farfetch and Gympass. Prior to starting RPeV, he was the head of Corporate Development for Cisco in EMEA and Latin America, and spent five years in Silicon Valley working for a startup and in venture capital.

I’m told de Vries — who speaks four languages and holds an MSEE from the Swiss Federal Institute of Technology in Zurich (ETH) and an MBA from Harvard Business School — was already involved with Lilium as part of Atomico having led the company’s Series A round back in 2016.

The VC firm followed on as part of Lilium’s $90 million Series B late last year, and although Atomico (and Skype) co-founder Niklas Zennström led on Atomico’s behalf, he worked closely with de Vries on the investment and is fully supportive of the former Atomico Partner’s latest move.

“Lilium is on a very exciting trajectory, and Yann’s experience makes him a perfect fit to lead their corporate development strategy,” says Zennström in a statement. “As an investor we are very supportive of the transition and have confidence in the impact Yann will have at Lilium. As a board member I look forward to continuing to work with Yann in the next phase of his career”.

Meanwhile, the hiring of de Vries as Lilium’s VP Corporate Development follows a number of other prominent roles being filled in the last 18 months.

They include Dr. Remo Gerber, former MD for Western Europe at Gett, who joined Lilium as chief commercial officer; Dirk Gebser, VP of Production and previously holding manufacturing executive roles at Airbus and Rolls Royce; and Meggy Sailer, Head of Recruitment, who was formerly Tesla’s Head of Talent EMEA.

Most recently, the German flying taxi company recruited car design veteran Frank Stephenson, who has previously worked for Ferrari, Maserati and Mini, to name but a few. I caught up with Stephenson for an extensive Q&A in April where he described joining Lilium as a “match made in heaven”.

06 Sep 2018

European banking app Monese scores $60M Series B led by Kinnevik

The large amounts of cash that is being invested in challenger banks in the U.K., whether that be startups with a fully fledged banking license or those using the less burdensome e-money regulations, shows no signs of abating. The latest banking fintech to raise a substantial new round is Monese.

The London and Tallinn-based company, which provides a mobile-only current account targeting customers with a ‘thin’ credit file or who are newly arrived in a country, has secured $60 million in Series B funding. Leading the round is Kinnevik, with participation from PayPal, European investor Augmentum Fintech, and International Airlines Group via its loyalty and data business Avios Group Ltd. Existing investors, including Investec’s INVC Fund, also followed on.

Launched in 2015 and claiming nearly 600,000 sign ups in the U.K. and elsewhere in Europe, Monese consists of a mobile-based current account and accompanying debit card. It offers most of the things you’d expect of a current account, such as account number and cash deposits and withdrawals. In addition, international money transfer and direct debits are supported.

It offers a free tier, with charges for some transactions, as a way of testing the water. Two monthly paid plans, starting from £4.99 per month, offer reduced or free transactions and a number of other perks.

The headline sell is that a Monese account can be opened in as little as 2 minutes, with technology driving the necessary background checks and KYC procedures. This also makes it attractive to recent migrants or other customers that don’t have a full financial history and therefore may find it more cumbersome to apply for an account with a high street bank.

In fact, as explained in a call with Monese founder Norris Koppel late yesterday afternoon, Monese wants to be the default current account option for customers with a thin credit file, from which it can offer a range of best-in-class financial services in partnership with other financial institutions, including incumbent banks and other fintechs.

That’s similar to other challenger banks and fintechs that want to become your financial control centre or hub, although in this instance Koppel is keen to stress that Monese “isn’t trying to kill banks” but wants to work with them.

Koppel also says that because the majority of Monese customers use the banking app as a primary account, including receiving salaries and paying rent, the company will be able to leverage this transaction data to help them better access credit and other financial services without solely relying on traditional credit score companies, such as Experian, which don’t have anything like the full picture.

Meanwhile, with monthly new customers tripling since the end of 2017, and Monese available in 20 European countries, Koppel tells me the watch word for this new round of funding is scale. He says the bigger vision is to have Monese the first banking option in any country a new or existing Monese customer lands in, with local account numbers instantly available.

Related, the company plans to hire an additional 100 employees across its existing U.K. and Estonian offices as well as a third new office in Portugal by the end of the year.

06 Sep 2018

iRobot’s new Roomba knows where it’s going

The Roomba i7+ looks like, well, it looks like a Roomba. There are few factors distinguishing the product from the last several generations. The rollers are bright green, along with a large Automatic Dirt Disposal section just below. Beyond that, however, it’s nearly identical to what you’ll already find on store shelves.

For iRobot co-founder and CEO Colin Angle, however, the product represents the culmination of the company’s nearly 30-year existence. “This is the thing,” the executive explains. “This is the Roomba I’ve always wanted to make.”

The latest version of the robotic vacuum represents a number of advances over its predecessor, chief among them the ability to know where it’s going and remember where it’s been. It’s a skill Angle has teased for a few years now, including several appearances on TechCrunch — and high atop the list of the line’s most requested features.

The feature has been teased in past versions of the home robot. Last year, the company added Clean Mapping to the 900 series. The feature lets the robot create an indoor map of the home, showing where the Roomba spent most of its time and helping it return home to the dock, even when it’s on the other side of the home.

With the i7+, however, Roomba will be able to recognize different rooms.

“The idea that we can build this system that remembers what’s going on in the home is the big leap,” Angle tells TechCrunch. “The 900 built maps, but didn’t remember them. The goal of organizing information to enable the smart home required this robot. For the company, it’s huge. We transition from being a company that is building robots to a company that is organizing spatial information in the home. There’s a data dimension to the company that can now actually be talked about.”

This is accomplished, in part, due to a large jump in computational power  — 50x over the 900 series, according to the CEO. While most users refresh their Roombas at roughly the same rate as smartphones (every two to three years), the bump in on-board tech means the company is able to offer a device that continuously updates over the life of the product.

“It’s much more of a platform at this point,” Angle says. “We can improve your robot, and you should expect the robot to be more of a software product. Your ability to interact with it and the sophistication of what it can do at launch versus a year from now is actually going to be pretty different. The next time it can be smarter about what it can do.”

iRobot gave us a sneak peek of the product on a recent trip to its Bedford, Mass. headquarters. The iRobot HOME lab is a 4,000-square-foot fake home protected by a series of secure doors. It’s much nicer and much larger than my own New York City apartment, save for the notes that line different piece of furniture, warning visitors not to do things like lie on the bed.

The company showed off the tech by mapping roughly half the space for the new Roomba, code-named “Lewis,” as a tip of the cap to one half of the famed duo of 19th century American explorers. The combination of  iAdapt 3.0 Navigation with vSLAM location mapping makes the robot able to navigate to a destination chosen by the user. The recent additions of Google Assistant and Amazon Alexa means users can command the robot with their voice.

There’s one more key hardware addition for the i7+, which addresses another longstanding complaint with the Roomba. The Clean Base is a large bin attached to the charging dock. Using the Automatic Dirt Disposal system, the Roomba is able to empty its own bin. You’ll still have to clean out the larger bin, of course, but only 1/30th of the time of the on-board system. When that bag is full, the user will get a notification from the app.

The i7+ is up for presale starting today, priced at $699. The clean base runs another $299. The robot will start shipping in September. You also can get a sneak peek of the system this week at TechCrunch Disrupt.

06 Sep 2018

South Korean home cleaning startup Miso sweeps up $8 million Series A

South Korean home cleaning service Miso wants to leave its competition in the dust after raising an $8 million Series A. Led by AddVenture, with participation from returning investors Y Combinator, FundersClub and Strong Ventures, and new backer Social Capital, the funding will be used on marketing and entering new Asian countries.

The Y Combinator alum, which was the third startup from South Korea to participate in the accelerator program, has now raised over $10.5 million in total. When TechCrunch first profiled Miso in June 2016, it was processing about 5,000 bookings a month. Now co-founder and CEO Victor Ching says the platform processes about 50,000 to 60,000 cleanings a month.

The company claims that it has processed over 750,000 bookings since it was founded in 2015 and made more than $40 million in gross merchandise value over the last three years. It has served a total of 110,000 customers and currently has 15,000 cleaners on its platform, which is accessible through mobile apps and its website.

When they launched, Miso and competitors like WaHome and Daeri Jubu represented a shift in how home cleaners work in South Korea, where demand for their services is growing thanks to the increase in dual-income households. As Ching explains to TechCrunch, cleaners previously had to pay a monthly fee to join an agency and were often required to check in at its office to wait for bookings, even though work wasn’t guaranteed. Cleaning apps give customers and cleaners more convenience and flexibility, as well as a rating system for transparency.

Ching says that when he and co-founder Haksu Lee started Miso, they assumed most cleaners would want the equivalent of full-time work, or about 30 to 40 hours a week. In reality, however, only about 30% of its providers want to work that many hours, while the rest clean on a part-time basis or to supplement their income. Full time cleaners on the platform typically earn up to about $2,000 a month (in comparison, the monthly minimum wage for full-time work in South Korea is about $1,400).

To stand out from competitors, Miso has focused on developing scale over the last two years, says Ching, who was chief product officer at food delivery startup Yogiyo before it was acquired by Delivery Hero in 2014. Ching’s experience handling food delivery logistics helped him develop Miso’s backend so that when bookings began to increase, it was able to arrange shorter commutes for cleaners. This in turn allowed the company to offer quicker bookings of about 2 to 3 hours, expanding its customer base (it initially only offered four- or eight-hour sessions). Its services also now include air conditioner and washing machine cleanings, as well as same-day bookings in some markets.

Miso’s logistics system also helps match cleaners and customers. About half of its customer base are subscribers, which mean they typically book a cleaning once a week. Most prefer to have the same person come over every week, but that means Miso needs to pair them with a cleaner who is willing to go over regularly. Miso’s platform takes into account the preferences of both customers and providers and also tries to match jobs in the same building or apartment complex with one cleaner. Ching says this is an important advantage Miso has over competitors, because its focus on convenience keeps cleaners loyal to the platform.

06 Sep 2018

Taxify is entering the e-scooter game

Estonian ride-hailing company Taxify will compete with Bird and Lime in Europe with its new brand of e-scooters, called Bolt, launching in Paris on Thursday.

The company has rolled the scooter sharing service into its mobile app, which has attracted 10 million users in 25 countries since it launched in August 2013.

A spokesperson for the company told TechCrunch it plans to release scooters in several other European and Australian cities where their app is already established, but will also launch in new markets where they’ve been unable to offer ride-hailing services because of regulatory roadblocks, including Germany and Spain.

As of now, Taxify has no plans to scoot into the US market.

“One in five Taxify rides are less than 3 km, which is the perfect distance to cover with an electric scooter,” Taxify CEO and co-founder Markus Villig said in a statement. “It’s likely that some of our ride-hailing customers will now opt for scooters for shorter distances, but we’ll also attract a whole new group of customers with different needs. This means we’ll be able to help more people with their daily transportation problems.”

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A Bolt scooter ride will cost 15 cents a minute, with a minimum fare of €1. Just like other e-scooter startups, you unlock the GPS tracked scooters by scanning the QR-code on the scooter using the Taxify app. Taxify will collect the scooters in the evenings for recharging.

Lime e-scooters went live in Paris at the end of June. About a month later, Bird’s fleet did the same, rolling into Paris and Tel Aviv as part of its international launch. GoBee Bike, Obike, Ofo and Mobike — all dockless bike providers — have also launched in Paris. GoBee has since exited after failing to compete with heavyweights like Mobike, which is owned by the multi-billion dollar Chinese company Meituan.

Taxify, for its part, is a favorite among private investors. In May, the company brought in $175 million from Daimler, Didi Chuxing and others. The financing brought the company to the $1 billion valuation mark, where it joined fellow ride-hailing giants Lyft, Uber, Careem and more in the unicorn club.

Whether e-scooters will be as popular in Europe as they’ve been in the US remains to be seen. It’s likely they’ll run into the same regulatory headaches they faced in several US cities as they continue to crop up in new markets.

Taxify, as a European company battling a pair of US-based mobility startups, may have the upper hand.