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Apple reportedly readjusts iPhone 14 production targets after slow demand

Apple’s new iPhone 14 lineup isn’t proving to be as popular as the company would have hoped for. So it is readjusting its production targets by cutting down additional orders for the device. A report from Bloomberg notes that the Cupertino-based tech company produced around 90 million units in the second half of the last year. And while Apple initially asked its manufacturing partners to make 6 million more units for the second half of this year, it has now scaled back to produce devices in line with last year’s levels. Apple’s iPhone 14 was merely an iterative update over the iPhone 13 while the iPhone 14 Pro received more significant upgrades. So Bloomberg’s report says that the company is seeing high demands for the Pro models, and is making more production capacity available for those higher-end models. Notably, the company’s new device in the lineup, the iPhone 14 Plus will go on sale next month. And we’ll only get to know about sales response for that version a few weeks afte

Italy’s Satispay raises €320M at a €1B+ valuation with backing from Block, Tencent and more for its indy payment network

More signs that the economy is slowing down in Europe, and that costs are going up, are driving merchants and consumers to look for less expensive ways to carry out their everyday business. Today, a startup out of Italy called Satispay — which operates an independent payment network that bypasses big banks and credit companies and promises lower transactions fees plus other benefits like better budget control to its users — is picking up a massive round of funding on the back of strong demand for its services. The Milan-based startup — which currently has 3,000,000 consumers and 200,000 merchants (both SMBs and larger retailers) among its users — has raised €320 million ($305 million as of today, based on the current uber-strong dollar). CEO and co-founder Alberto Dalmasso confirmed to us that this Series D catapults the company’s valuation to over €1 billion (at present, around $955 million). The all-equity round has some very interesting investors in it, including some eye-catchin

YC-backed fintech Numida raises $12.3M led by Serena Ventures to extend loans to MSMEs beyond Uganda

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Micro, small and medium-sized enterprises (MSMEs) across Africa make up the bulk — over 90% — of businesses in the continent but are still marginalized in accessing credit from formal institutions because of the nature of their operations; for instance, many often lack the kind of collateral that is acceptable by banks. To bridge the gap, Uganda-based fintech Numida , has opted to focus its digital lending business on small enterprises as part of its strategy for driving financial inclusion in emerging markets. Spurred by an increase in demand for its services, Numida is currently eyeing growth opportunities beyond Uganda saying that it has a proven business model that can be adopted across the continent to unlock the potential of MSMEs. The growth plans come against the backdrop of $12.3 million pre-series A equity-debt funding in a round led by Serena Ventures with participation from Breega, 4Di Capital, Launch Africa, Soma Capital, and Y Combinator, VCs that are all making their

Roundtable wants to bring AngelList-style syndicates to Europe

Meet Roundtable , a new startup backed by eFounders that wants to bring community-driven angel investments to European startups. The company has built a platform that simplifies the administrative, legal and financial challenges that come with angel investments. Roundtable could be particularly useful for existing angel investors who want to unlock some additional capital for their portfolio companies. As they are about to invest in a startup, they can create a EU-based special purpose vehicle (SPV) and tell their friends to invest alongside them. For individuals who aren’t professional investors, it lowers the barrier to entry as they don’t have to deal with a lawyer, an accountant, a banker, etc. When the lead angel sets up the SPV, they can choose to get some carried interest from other investors in the vehicle — but that’s optional. Down the road, Roundtable can also handle partial exits in case some investors want to get out of a startup while others want to remain shareholder

Stockly raises another $12 million to sell out-of-stock items via other retailers

French startup Stockly is raising a $12 million Series A round (€12 million) from Eurazeo, Daphni and several business angels. The company pools together the inventory of several e-commerce websites. When a retailer is out-of-stock on a popular item, they can still accept the order and process the order through a different retailer’s inventory. This startup is a network play. As Stockly grows, its product becomes more interesting because there are more partner retailers on the platform. Some of Stockly’s customers include Galeries Lafayette, Jonak, Go Sport and Decathlon. If there are multiple suppliers that can fulfill an order, Stockly automatically picks a retailer based on several criteria, such as price, distance and a quality score. Stockly also tells its partners to use neutral packaging so that everything remains transparent for the end customer. The main technical challenge is that Stockly has to synchronize millions of items at any point in time. It integrates with existi

Announcing the agenda for TechCrunch Sessions: Crypto 2022

The crypto industry seemed to age several decades over the past bull run, maturing in some places while barreling ahead in ambitious new pursuits, including DeFi, NFTs and web3. And while scams continued to proliferate and hacker heists became a weekly occurrence, the space onboarded an onslaught of retail investors and fostered feverish excitement among young technologists eager to bet their careers on the blockchain. We’re thrilled to tap into this controversy and excitement once again as we announce the star-studded agenda for TechCrunch Sessions: Crypto 2022 . The event — taking place November 17 in Miami — will offer an opportunity for founders and investors to hear war stories from some of the crypto world’s most powerful decision-makers, while also picking up learnings from industry veterans who have weathered a crypto winter or two. Take advantage of our special launch pricing — save $250 on General Admission passes while supplies last. Buy your pass  today, and then join the

Papaya wants to help electrify last-mile logistics in Europe

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Internal combustion engines still rule the roost when it comes to powering automobiles, but there are signs that they’re slowly trundling into oblivion, at least in some markets. The likes of Sweden , Denmark , and the U.K. are planning to ban sales of diesel and petrol cars by the end of the decade, while markets such as Australia and California are also making moves in that direction albeit at a slower pace. Part of this process will have to involve making it easier for consumers and businesses alike to transition to electrification, for example through extending access to electric vehicle (EV) charging stations as the U.S. recently announced as part of its $1 trillion infrastructure bill. But companies will also need help acquiring and operating their EV fleets — and this is where a new startup called Papaya is setting out to play its part. Soft-launched back in February, Papaya’s software is designed to help fleet operators source and manage electric or light-electric vehicl

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