Roundup of news and ideas from the world of startups – Week ending 15th July 2018
News you can use
Swiss Fintech Startup Map July, 264 Swiss Fintech Startups – Swisscom released the Swiss Fintech Startup Map for July 2018 which now counts 264 Swiss Fintech Startups, 14 more than in June. The post Swiss Fintech Startup Map July, 264 Swiss Fintech Startups appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.
We’ve got to become a start-up nation again,’ says former Cisco CEO –Cisco’s former CEO says that while tax reform has created a friendlier environment for start-ups, regulations need to be pared down in order for the U.S. to stay competitive.John Chambers tells CNBC the rate of start-up creation is not high enough.
Corporate M&A
Fineqia buys stake in blockchain insurance company – Fineqia International Inc. is taking an equity allocation in Black Insurance (“Black”), a digital insurance startup on the blockchain. Black intends to become a licensed insuer and enable the underwriting of new insurance policies via insurance syndicates akin to the Lloyd’s market. Insurance brokers and agents will be able to create bespoke insurance schemes faster and cheaper using the Black platform.
Uber rolls into electric scooter market with investment in Lime – Just a few months after acquiring electric bicycle company Jump Bikes, Uber has made yet another strategic investment in a two-wheeled startup. The San Francisco-based tech giant announced a new investment in Lime, the electric scooter company, as part of a $335 million financing round. Details on the partnership have yet to be fully revealed, but Uber says it will be promoting Lime within its mobile application, and will also be putting the Uber logo on some of Lime’s scooters.
Irish AI and Facial Recognition Startup Acquired in Multi-Million Pound Deal – Kairos hopes to use EmotionReader’s tech to remove bias from facial recognition software. Miami-based AI and facial recognition specialists Kairos has purchased Irish startup EmotionReader, in a multi-million pound deal.
Startup shut and failed last week
Twitter Shuts down Online Safety Company Smyte after acquiring it – Social media giant, Twitter, announced that it had acquired Smyte, a startup focused on delivering online safety and anti-spam solutions. Interestingly, a day after the acquisition was announced, Twitter shut down the Smyte .
Chinese bike-sharing firm on the verge of shutdown fires India staff – The Chinese bike rental company Ofo has shut down its operations in India and fired most of its 30 employees in India. The Alibaba-backed startup had launched operations in India in January 2018. Ofo, which offers station-free bikes operated via an app, claimed to have completed 1.1 million rides within four months in India.