Technology

Kurtosis raises $20M Series A to give web3 developers ‘a place to play around’ – TechCrunch

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hey and I swap places for the next two days while he gets some much-needed rest. In his absence, enjoy his latest pitch deck teardown on Glambook. Meanwhile, TechCrunch Disrupt is getting closer: meet the last five Disrupt Audience Choice Roundtable winners, and if you’re a student, enter our video contest to win a free ticket.

And don’t forget, the application deadline for Startup Battlefield 200 is tomorrow! Apply today to join Startup Battlefield 200 for a chance to feature your startup at TechCrunch Disrupt for free this October and win the $100,000 no equity prize. Application deadline is August 5th. Make sure you get your applications by tomorrow! Apply today.

Until tomorrow! — Christine

The TechCrunch Top 3

  • tool around: Two years ago, two former Palantir engineers launched Kurtosis, a crypto-focused developer tools system, and have now raised $20 million in new funds to hire a team that will launch a new product next year, Jaquelyn reports.
  • Buckle up some capital: Argentinian fintech Geopagos emerges from bootstrap life as it needs $35 million in new capital to help companies launch their own financial services products, Maria Ann writes.
  • ‘Snap’ping into some share buybacks: Snap and Airbnb moves to buy back shares amid slower growth Alex He raises his eyebrows and looks under the hood to see what’s going on.

Startups and VCs

There’s a lot of startup news again today, so let’s get into it. Natasha M brings us some additional redundancy news from On Deck, which is shedding another third of its staff after cutting a quarter a few months ago. For those of you who can add fractions, that’s a lot, isn’t it?

We enjoyed reading becca‘s Investor Survey Story, in which she asked six first-time fund managers about their approach to weathering the downturn.

“Buy now, pay later” is also still widespread in the consumer world (cf anita‘s financing story on Halliday), but companies also want to join in the fun. That’s where Kontempo comes in with $30 million and its approach to enabling sales teams to approve credit. kyle reports.

  • One app a day keeps the ads away: Nobody likes pop-up ads, and a new app, Banish, makes you feel Sarah writes.
  • Connect content to people: Clutch closes early-stage funding to match creators with businesses that need content, Dominic Madori reports.
  • score well: Rill, a business dashboard tool, talks for the first time about a new round and its product that embeds database and instant user experience, Ron writes.
  • An offer they couldn’t refuse: MiroBio, a startup developing treatments for autoimmune patients, has accepted an offer to become part of Gilead Sciences for $405 million, Paul reports.

From NDA to LOI: What Really Happens When Your Startup Is Acquired?

Kawaii cookie vector illustration. Kawaii style Japanese chocolate chip cookie with eyes and mouth. Flat character isolated on white background.

Photo credit: Anna Minkina (opens in a new window) /Getty Images

Last week, Yair Snir, VP and CEO of Dell Technologies Capital, published an article explaining why founders should consider an acquisition, especially since their chances of an IPO are so slim.

In a follow-up, he guides the readers into the integration phase/post-acquisition process:

  • The shopping sprint
  • The way to the LOI
  • bring in bankers
  • Dive into due diligence
  • Define “Day One”.
  • You have been taken over!

“Although IPOs grab more headlines, a well-timed, well-planned acquisition can mean even greater opportunities for you, your team, and the technologies you develop,” says Snir.

(TechCrunch+ is our membership program that helps founders and startup teams get ahead. Here you can sign up.)

BigTech Inc.

When it comes to cryptocurrency, BlackRock is now saying, “Why beat them when you can join them?” anita writes about the wealth management giant teaming up with Coinbase to give its clients access to crypto, starting with Bitcoin. Speaking of Coinbase, Jaquelyn and Alex Write for TechCrunch+ why investors are excited about this partnership and others Coinbase has.

On the social media front, we enjoyed it amanda‘s story, in which she spoke to Patreon CEO Jack Conte about why Instagram and Facebook are on his list, and not in a good way. and aisha tells us what some new Clubhouse features are all about.

  • talk car: Volkswagen is preparing to launch a more affordable version of its 2023 ID.4 later this year, Kirsten writes. In the meantime, Rebecca brings us stories about UFODrive, a European electric vehicle rental startup debuting in San Francisco, and what’s happening to Lyft employees after some layoff news.
  • Wally World layoffs: Inflation is causing even the largest companies to review their budgets, and in this case Ivan reports that Walmart is shedding 200 company employees.
  • Samsung in the key of G: Ivan also writes about Samsung bringing Amazon Luna games to its smart TVs and monitors while brian highlights what goodies Samsung might announce at next week’s Unpacked event.
  • Streamer gone: In today’s streaming news days reports on Amazon Prime Video launching local service in Nigeria while Lauren writes about SoundCloud announcing some layoffs and Paramount+ having a good quarter in terms of subscribers.
  • Giving back, just not in the way they wanted: Manic reports that the State Bank of Pakistan has ordered fintech startup Tag to return all funds to customers, “citing breaches of regulatory requirements and ‘other concerns’ that raise existential questions about the startup’s future.”

https://techcrunch.com/2022/08/04/daily-crunch-kurtosis-raises-20m-series-a-to-give-web3-developers-a-place-to-play-around/ Kurtosis raises $20M Series A to give web3 developers ‘a place to play around’ – TechCrunch

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