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Nala to use $40M Series A to build B2B payments platform, scale remittance services Jul 10, 2024

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Nala, a remittance startup that is now widening its portfolio through a new B2B payments platform, has raised $40 million equity in a rare deal that becomes one of the largest Series A transactions in Africa.

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Byway is using AI to help travelers slow down and take the scenic route Jul 10, 2024

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Solo founder Cat Jones took the plunge on setting up a travel business right around the time the pandemic was hitting Europe in March 2020. Fast forward to summer 2024 and her curated package tour business, Byway, is announcing close of an oversubscribed £5.4 million Series A round (around $6.9M at current exchange rates).

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Investors chase wealthtech startups in India as affluent class grows Jul 09, 2024

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Investors are betting on Indian wealthtech startups as a growing middle class turns to diversify investments and startups challenge traditional financial advisors for high-net-worth clients. Premji Invest is in advanced stages of talks to lead a funding round of $30 million to $40 million in Dezerv, an app offering a suite of investment solutions

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Quantum Rise grabs $15M seed for its AI-driven ‘Consulting 2.0’ startup Jul 09, 2024

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Quantum Rise, a Chicago-based startup which does AI-driven automation for companies like dunnhumby (a retail analytics platform for the the grocery industry), has raised a $15 million seed round from Erie Street Growth Partners. Its approach is somewhat akin to UIPath’s, a company famous for bringing robotic process automation to the enterprise.

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Amazon hires founders away from AI startup Adept Jul 08, 2024

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Adept, a startup developing AI-powered “agents” to complete various software-based tasks, has agreed to license its tech to Amazon as the startup’s co-founders and portions of its team join the ecommerce giant. Geekwire’s Taylor Soper first reported the news

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Husband-and-wife former Olympians target $50M for new fund to invest in influencer-led consumer brands Jul 08, 2024

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Samyr Laine and Ayanna Alexander-Laine now put their grit and determination to work for founders wanting to launch and scale consumer brands.

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News outlets are accusing Perplexity of plagiarism and unethical web scraping Jul 05, 2024

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In the age of generative AI, when chatbots can provide detailed answers to questions based on content pulled from the internet, the line between fair use and plagiarism, and between routine web scraping and unethical summarization, is a thin one.

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CoinDCX acquires BitOasis in international expansion push Jul 05, 2024

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CoinDCX, India’s leading cryptocurrency exchange, is expanding internationally through the acquisition of BitOasis, a digital asset platform in the Middle East and North Africa, the companies said Wednesday. The Bengaluru-based startup said BitOasis’s team is joining CoinDCX, with the original leadership continuing to manage the exchange, which offers trading in more than 60 tokens.

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Indian edtech Unacademy cuts another 250 jobs Jul 04, 2024

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Indian edtech giant Unacademy is laying off about 250 employees, the latest in a series of layoffs since the reopening of schools across the country after the pandemic. The Bengaluru-headquartered startup, valued at $3.4 billion in its last funding in 2021, is cutting 100 jobs in core roles (marketing, business and product) ,

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Altrove uses AI models and lab automation to create new materials Jul 04, 2024

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For the past couple of years, innovation has been accelerating in new materials development. And a new French startup called Altrove plans to play a role in this innovation cycle. The deep tech startup has already raised €3.7 million (around $4 million at current exchange rates).

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