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Today was the kickoff of Apple’s developer conference, WWDC, which means the ClearTips crew was super busy all day and we have an ocean of news from Cupertino for you to enjoy. But the startup market was just as busy, thankfully, with some lucrative funding rounds, acquisitions, and more to parse through. Today we have something for everyone! – alex
Including all of you interested in PS Finance. Here is the breakdown of the Babylon Health SPAC deal. Enjoy it!
ClearTips Top 3
- Apple highlights: Apple’s keynote today was just the usual affair of animation, on-screen text, music, and lots and lots of news. more down but ios 15handjob shareplay and iCloud+ There are clear standouts.
- Global chip shortage: Global chip shortage won’t rise until at the end of next year, which means we’re going to see investment in new chip-fab capability. like today’s news Bosch opens $1.2 billion chip manufacturing facility in Germany. Much as the AI market continues to move along geopolitical fault lines, over time, more countries seek to have domestic chip-fab capabilities as a form of self-sufficiency.
- Paytm Going Public: Noida, India-based Paytm, the country’s most valuable startup, will go public, it recently told employees. This is good news for the company, we believe, but also potentially big news for India’s large startup and venture capital landscape.
Startups and VCs
- Astra buys Apollo Fusion: This is a fun one. Astra, a space launch upstart that’s pursuing a SPAC-led IPO, is buying Apollo Fusion, which focuses on what ClearTips describes as “electric propulsion.” So not fusion, sadly, but electric propulsion is a major space technology that allows satellites, for example, to rotate while in orbit. It may also sip fuel to an extent, making it a technology that could help satellites and other heavenly bodies enjoy longer service lives.
- BRIC expands its manufacturing-focused fintech service: The recent explosion of construction-unicorn Katera isn’t deterring venture investment in its market. Today BRIC, a startup that provides fintech solutions to construction companies, announced that Tiger Global has raised a $30 million round in its business. Normally a $30 million check gives us a good sense of how big Brick’s revenue base is today. But it’s hard to say, given the turmoil in the market, that Tiger is content to pump capital into companies with low revenues. Brick told ClearTips that its annual recurring revenue grew 200% over the past year.
- Mendel raises $18M to structure unstructured medical data Every industry creates a lot of data these days, but the medical industry sweats data like a first-time Peloton user. And, as you can imagine, much of the data that’s off-gass from the medical world is unstructured and generally a mess. Enter Mendel, who seeks to organize, share and exchange medical data after it has been swallowed and cleaned up. I dig it.
- finally today, Lightspeed has acquired “E-commerce platform Ecwid for $500 million, and NuOrder, a B2B ordering platform that serves wholesalers, brands and retailers for $425 million.” The Canadian point-of-sale provider has been busy buying startups in recent years, as part of a larger roll-up strategy that it hopes will lead to an enticing package of services. Or, as the company put it, the deals will help Lightspeed become “the common thread uniting merchants, suppliers and consumers.” It’s pretty heavy on corporate-speak, but speaks to Lightspeed’s ambitions. I rave about this particular set of deals because Lightspeed isn’t as well known as you might think about its scale.
The Hidden Benefits of Adding a CTO to Your Board
Conventional wisdom says that startup boards should consist of a few CEOs who are capable of providing informed advice, but having a tech leader in the mix has the real upside, according to Puppet’s chief technology officer Abby Kearns.
Beyond his engineering experience, CTOs can help founders set realistic deadlines, identify pain points, and bring what Kearns calls “practical empathy” to high-pressure situations.
“A CTO understands the nuts and bolts,” Kearns says.
(ExtraCrunch is our membership program, which helps founders and startup teams grow. You can sign up here.)
Big Tech Inc.
As mentioned above, there’s a lot of Apple news to dig into, but we also have notes from Microsoft and Pinterest to parse. So let’s get done with WWDC and then dive into the rest.
Today’s Apple event provided a lot of coverage. Here’s what you need to know (products in bold to help you find what you need):
And much more is yet to come. So, if that’s not enough for you from the Apple News column, keep your eye on the site.
Elsewhere at BigTechLandia
Pinterest is finally roll out capability To save items to the shopping list. The general argument for Pinterest’s long-term value has been that, sure, it has ads, but it’s also essentially an e-commerce sleeping giant. Maybe Big Pin wants to wake up a little faster than we expected.
To close, Microsoft is Renaming Windows Virtual Desktop to Azure Virtual Desktop. Why the change? Because, loosely speaking, the demand for the product in the post-pandemic world is much higher than it was before, and thus the ability to “install a full virtual desktop environment from the Azure portal” using just “a few clicks” . “As Frederick pointed out, a big deal can happen.
What were you most looking forward to at WWDC? you told us ios update. And there are flocks. Chat on the Discord servers about what Apple did (and didn’t) announce.
ClearTips Sessions: Mobility is happening this Wednesday, and there’s still time to buy tickets. on the fence? Come Join us on the Twitter space tomorrow at 4 p.m. PDT / 7 p.m. EDT To get a taste of what you will experience at the event.
Speaking of events, keep an eye on the site for some Pittsburgh spotlight-related news tomorrow.
Whether you’re into artificial intelligence, autonomous and/or electric vehicles, robotics or hunting down the next transportation unicorn, you’ll want to make sure you attend ClearTips’s Sessions: Mobility event this Wednesday, June 9th. Bring your questions and join in conversations with the CEOs and founders of Scale AI, Ford, Joby Aviation and Hyundai and discover the 30 best early-stage mobility startups poised to become the next big thing. Register today and get a free expo ticket with promo code DAILYEXPO. Or save 50% to access the entire event with promo code DAILYCRUNCH50.