Tag: covid19
Former Uber exec raises $31M for his Jakarta-based logistics startup Kargo, announces relief fund to battle coronavirus
Kargo, a Jakarta-based logistics startup co-founded by veteran Uber Asia executive Tiger Fang, has raised $31 million to scale its business and help firms in the Southeast Asian nation fight the coronavirus. Silicon Valley-based Tenaya Capital, Sequoia India, and Intudo Ventures among others financed Kargo’s Series A round. The startup,…
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Apple and Google are launching a joint COVID-19 tracing tool for iOS and Android
Apple and Google’s engineering teams have banded together to create a decentralized contact tracing tool that will help individuals determine whether they have been exposed to someone with COVID-19. Contact tracing is a useful tool that helps public health authorities track the spread of the disease and inform the potentially…
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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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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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Restaurant management platform Toast cuts 50% of staff
Last valued at $5 billion, restaurant management platform Toast has joined the sweep of startups laying off employees due to the economic impact of the COVID-19 pandemic. Toast reduced the size of its staff by 50% through layoffs and furloughs, according to a blog post from Toast’s CEO, Chris Comparato.…
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As cinephiles shelter, studios are catching on to virtual movie nights
This is a tough time to be a movie lover. Sure, the panoply of streaming platforms means there’s a wide world of films at our fingertips. However, the option of experiencing great cinema in a theater environment has been suspended indefinitely. Acros… Source
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