Thursday, September 21, 2017
Monday, September 18, 2017
Sunday, September 17, 2017
Meet the startups that just pitched at EF’s 8th Demo Day in London
14 newly formed startups pitch their wares onstage to investors, press and other actors in the European tech scene at Entepreneur First (EF)
EF founders Matt Clifford and Alice Bentinck have just raised $12.4 million in new funding led by Silicon Valley’s Greylock Partners and Linked IN's Reid Hoffman.
Hoffman described EF, which along with London also runs a program in Singapore, as a “great model for creating new, deep tech companies on an incubation basis.”
To date, EF says it has helped more than 500 individuals on its program, who have built more than 100 companies with a total (mostly on paper) valuation exceeding $1 billion.
This is how EF works: The company builder targets technical and domain talent, both recent graduates and also people already working at tech companies, and invites them to apply to its six-month program where they find co-founders and in turn found startups. The program includes financial support in the form of a monthly stipend for living costs while founders find their co-founders and decide on an idea.
This is then followed by pre-seed funding, in addition to office space, legal and administrative support and mentoring and advice from the EF team and external entrepreneurs from the wider U.K. and Singapore startup scene.
There’s also a separate follow-on fund to co-invest in alumni companies at the seed and Series A stage.
Sounds a lot like our BSI Investor Forum in Australia!!!!
The full list of presenting teams (in their own words) of EF
Metis Labs is general intelligence for industrial systems.
Kiroku is capturing the value of expert conversation.
Kue reinvents consumer credit and changes how we purchase.
Robik AI builds autonomous vehicles to slash the cost of last-mile delivery.
Migacore Technologies uses online signals to better predict travel demand.
Machine Medicine uses computer vision to predict and prevent falls before they happen.
Mobilus Labs is a hands-free, ear-free voice platform.
A quantum leap in drug discovery.
Agrosight detects plant diseases early using hyper-spectral signals, dramatically reducing the cost of food production.
Sensum Technologies uses advanced statistical and machine learning algorithms to predict and prevent preterm birth.
CargoMate Technologies saves millions in fuel costs by helping container ships leave port early.
ConnectMed is plugging the primary healthcare gap in developing countries.
Portify is building the infrastructure for the future of work.
Resurgo Genetics is building a universal tool to precisely change any living system.
Thursday, September 14, 2017
Investors in this fintecc includes GMO Venture Partners from Japan, Wavemaker Partners, Skype co-founder Toivo Annus, MDI Ventures, DORR Group and Indonesia-based operator Telkomsel.
Reddot focuses on hotels and the hospitality industr and enables online payments via a gateway, and offers online invoicing, recurring payments and alternative payments.
Singapores YinglanTan - former Sequoia venture partner and Lin-Hong Wong. (former Singaporean sovereign fund Temasek and the Singapore Economic Development Board)has raised $25 million for its maiden fund called Insignia Venture Partners and it made its first investment.
It is leading a $4 million investment in Indonesia-based co-working startup Ev Hive, a source close to negotiations told TechCrunch.
The $25 million fund plans to focus on the seed and Series A space in Southeast Asia, a segment that once was seen as a gap but now is becoming well filled with funds. Other VCs playing in the space include Golden Gate Ventures ($50 million), Jungle Ventures ($100 million), Venturra Capital ($150 million), and Monk’s Hill Ventures ($80 million.)
Sequoia is one of the few investment funds that operates in the Series A and Series B spaces in Southeast Asia. Despite that and growing interest in the region from major tech companies, with recent deals from Alibaba, Tencent, SoftBank and Expedia, it doesn’t have a dedicated fund in South East Asia , but its deals are covered by the Sequoia India fund. The current India fund of $850m is the firm’s fourth.
Earlier this summer, Sequoia secured $4 billion in fresh financing, including $2 billion for its growth funds, according to a U.S. filing. The firm decline to provide details on how the capital will be allocated, but a good bet is that a large chunk will be put to work in Asia. Indeed, according to report, $125 million of that fresh allocation was funneled into the current India fund.
Hopefully Australia will get a gurnsey!!!!
Sunday, September 10, 2017
Tuesday, September 05, 2017
- Initial funding
- the chance to participate in a three month intensive program,
- streams of Datathrough Data Republic’s platform, as well as access to anonymous data aggregated by Westpac.
- matching participants with businesses or “real customers” who will be ready to pay for their solutions at launch.
- Cross collaboration with established corporates and startups
Monday, September 04, 2017
Sunday, September 03, 2017
It turned out to be the best invest ever made by me. At it peak it had grown 1000X and was worth $200 million. I was not smart enough to get out when the going was great but I was able to sell this investment for $20 million, a mere 100X. For the longest time I felt angry at myself for being stupid. Now I will take 100X return any day without feeling stupid!!!
I had gotten very impressed with the people (ChandraShekhar and BV Jagadeesh) and the business idea.
James Thomason - Do you believe in the butterfly effect? Because of your investment, I moved from Alabama to California, where I remained for the next 20 years and 13 startup companies. I was the 28th employee at Exodus in 1996 , if memory serves. I met my wife in San Francisco and started my first company there.
On what to invest in
Kanwal - it's all about the team!
Tuesday, August 29, 2017
Thursday, August 24, 2017
- enterprise and corporate, and
- media and entertainment
Dr Kate Cornick, CEO of LaunchVic, said this initiative
is a useful tool for key decision makers in terms of better understanding the makeup of the Victorian startup ecosystem and how best to support it.
Startup Victoria CEO, Georgia Beattie added that the report will be an “important playbook” for the state’s startup community - enabling collaboration and connection - facilitating the connection of founders to capital and meetups and accelerators and corporates to founders"
- REA Group valuation $8.7 billion,
- Seek valuation of $5.9 billion and
- carsales.com.au with its $2.8 billion valuation.
- Redbubble - $100m plus - with a trajectory to unicorn status
While the fastest growing firms are reaching the growth stage in around three years, and later stage in eight or nine, on average it takes startups six or seven years to graduate from early stage to growth stage, and approximately a decade to hit the later stage definition.
In targeting these customers, a significant portion of the state’s startups are executing a monetisation strategy and taking on revenue, with almost 12 percent earning between $1,000 and $10,000 annually, 22.8 percent earning between $10,000 and $100,000, and just over 28 percent earning between $100,000 and $1 million. (62% sub $1m )
The state’s companies, the report found, are broadly well-supported
- 21 accelerators currently running and six new programs in the pipeline.
- 190 meetup groups focused on startups and entrepreneurship organised across the state,
- 150 coworking spaces.
Gender diversity is greatest in the social enterprise, design, and real estate spaces, and poorest in the energy, data and analytics, and sports and recreation fields.
Diversity in terms of location is also a significant question, with 97 percent of respondents based in Melbourne, and 71 percent located primarily within the inner city and south eastern suburbs.
Of the three percent of companies outside Melbourne, Geelong, Bendigo, and Ballarat have the highest representation.
Also needing to improve is access to talent and skills, with skills around computer science and sales and business development, those considered the most important by firms, also the areas firms are facing the most difficulty recruiting for.
Looking internally, firms reported having a low capability around their own strategy and governance and financial management, though they have established systems and processes around things such as improving customer relationships, developing sales channels, and identifying growth drivers.
Image: Georgia Beattie.