Category: Softbank
Equity Monday: Two early-stage rounds, grocery delivery and SoftBank’s bill
Good morning friends, and welcome back to TechCrunch’s Equity Monday, a short-form audio hit to kickstart your week. Before we jump into today’s show, don’t forget that the long-form Equity that started in the unicorn era and continue in today’s changed world still drops on Friday. We had a blast last…
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Indian online grocery startup BigBasket raises $60M
Indian grocery startup BigBasket has raised $60 million as it scales its business in the country to meet growing demand from customers stuck at home. Alibaba and other existing investors including Mirae Asset and CDC Group participated in the bridge-round, Vipul Parekh, co-founder of BigBasket, told TechCrunch in an interview.…
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Builder.ai launches pre-packaged apps for small businesses hit by COVID-19
Last year Builder.ai raised one of Europe’s largest Series A investments at $29.5 million, led by Lakestar and Jungle Ventures, with participation from SoftBank’s DeepCore. The company’s platform, which allows for the fast-build of software and apps, has been used to create products for BBC, DiditFor, Manscore and ZikTruck. It’s…
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India’s Oyo furloughs thousands of employees as revenue drops by over 50%
Oyo has placed thousands of employees on furloughs for up to three months in the U.S. and several other markets as the Indian budget lodging firm confronts the coronavirus outbreak that has cut its revenue and demand by over 50%. The startup’s teams in the U.S. are most impacted by…
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Korean grocery startup Kurly raises $150M
Kurly, a startup that operates a grocery delivery service in Korea, has secured $150 million in a new financing round months after reports claimed that the firm might be heading to an acquisition. Sequoia Capital, Hillhouse Capital and Digital Sky Technologies invested in the Korean startup’s Series E financing round,…
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Proposed amendments to the Volcker Rule could be a lifeline for venture firms hit by market downturn
In the wake of the financial crisis, Congress passed regulations limiting the types of investments that banks could make into private equity and venture capital funds. As cash strapped investors pull back on commitments to venture funds given the precipitous drop of public market stocks, loosening restrictions on the how…
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