Tech
LineLeap lets users pay to skip the line at bars
No one likes standing in line. I was reminded of just how awful the experience can be last Saturday, while being herded like cattle through a two-hour queue for a nightclub in unseasonably cold weather. I’d not soon repeat the experience. Fortunately, there’s a startup for that. LineLeap, backed by Y Combinator, lets people pay…
Paymob, started by three college friends, lands another $22 million and is profitable in Egypt
Not many ecosystems outside of Silicon Valley can boast successful tech startups launched by founders while still in school or shortly after dropping out. So, when such events occur in regions like the Middle East or Africa, the companies are worth paying attention to. A decade ago, Islam Shawky, Alain El Hajj, and Mostafa Menessy,…
Formo gets investors’ mouths watering with Koji protein-based animal-free cheese
A love of food — and, well, cheese — has landed German fermentation startup Formo‘s co-founder Roman Plewka and its team a hefty $61 million Series B round to keep scaling production of their climate-friendly, animal-free cheese. The Berlin-based startup’s first products use a base of Koji protein, a type of fungal microorganism that’s been…
European VC Atomico closes $1.24B across two funds for early and growth-stage startups
As European startups continue to look for signs of sustained market confidence beyond the hype around AI companies, Atomico — one of the region’s more iconic, largest venture capital firms — has raised more money to make investments that might indicate how the market is really moving. The VC has closed new funds totalling $1.24…
Payroll startup Warp disavows ‘affiliate’ who posted about white superiority
Warp, a young payroll startup in New York, is in the spotlight following controversial posts from an account tied to the company. On Thursday, an account posting under the name Vittorio wrote on X, “i like White people more, they do more, they are better for the roles i need to climb the kardashev scale…
Second Byju’s auditor exits in a year amid bankruptcy proceedings
BDO, the auditor for Indian edtech startup Byju’s, has resigned with immediate effect, marking the second auditor departure for the embattled startup in about a year and further intensifying concerns about its financial health and governance. In a scathing resignation letter, BDO subsidiary MSKA highlighted multiple issues with Byju’s, including significant delays in financial reporting,…
‘Stop harassing Starlink,’ SpaceX president tells Brazilian judge
SpaceX President Gwynne Shotwell made a public plea to one of Brazil’s top judicial figures on Thursday, asking him to “please stop harassing Starlink” amid the ongoing battle in the country against Elon Musk’s social media business X. Musk has been engaged in a months-long dispute with the Brazilian courts, which have been waging a…
Reonic raises €13 million to help small installers of green tech like heat pumps and solar panels
European regulators are pushing hard for greener energy. The REPowerEU plan calls for 10 million additional heat pumps to be added by 2027, and solar panels are also on the rise. But most installations are done by small businesses that could be more productive with better work processes. This is where German startup Reonic comes…
Impact investors FMO and BlueOrchard back Ghana’s digital lender Fido in $30M Series B round
Digital lending platforms have become an easy and swift alternative source of credit for microenterprises and individuals overlooked by traditional banking institutions. These platforms have turned into a lifeline for millions of underbanked and demand will keep growing, pushing the value of the digital lending platform market in the Middle East and Africa to reach…