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Hello and welcome to the Daily Crunch of June 3, 2021. If you’re a startup founder or early employee or investor, there’s good news on the ClearTips front today: The start of the disintegration agenda is live! This is going to be one hell of a show for anyone interested in startups and how they grow. See you there! – alex
ClearTips Top 3
- United goes boom: News broke today that United Airlines has agreed to buy 15 supersonic jets from Boom, a startup focused on building them. For Boom, the deal is a major event, a testament to the physical market demand for its products. And, given how much planes normally cost, a sizable set of bookings for the company to show to its investors, which have pledged nearly a quarter billion dollars in the company, according to Crunchbase.
- twitter is blue: No, the social media company is not sad. Quite the opposite. Instead, Twitter’s subscription service Blue is going live in two markets for a few dollars a month. It’s a very public test of what Twitter hopes – we believe – will be a globally available subscription option for those of us who can’t stop tweeting.
- Women’s health remains a low-investment startup space: ClearTips’s Natasha Mascarenhas digs into the world of hormonal health for the TODAY blog, asking why there aren’t unicorns on the huge market. Very well read.
Startups and VCs
We are dividing today’s startup and venture capital news into two parts. The first includes early-stage rounds, and the latter includes investments in upstarts that are a bit more mature.
- India’s early stage market boom: Manish Singh for ClearTips reports that several Indian startups are in the process of raising money. He broke an ocean of news in his article on the matter, outlining not only how active the global enterprise market is, but how difficult it can be to keep track of all activity.
- Simplified Raises $2.2M to Support Marketing Creative: Marketers are expected to generate a lot of content. Simplified is taking Canva and what that huge market needs all at once. And now it’s backed by Craft Ventures.
- Ganaz raises $7M to help farm workers get paid: Not every tech company needs to be a tech elite or rich. Ganz is betting that his business — focused on what we described as “paying people with little documentation and no bank accounts and sending money with the modern workforce stack” — is going to be a hit. is. Considering how vast the agricultural sector is, the stakes make some sense.
And then, on the late stage front:
- Gong raises $250M for sales automation: Gong’s rapid growth and latest funding were part of my column this morning because of how interesting they proved to be. In short, the sales automation company has nearly tripled its valuation since last August to more than $7 billion. how? By increasing by more than 2x in the previous year.
- Real-Time Robotics Raises $31M for Real-Time Robotics: Boston startup Sean is much more than biotech, it should be clear by now. Realtime Robotics is one such beantown startup that isn’t manufacturing new drugs. Instead, Brian Heiter reports, it is building robotic software to “help companies deploy systems with limited programming, providing adaptable controls that work for multiple systems at once.”
- Leolabs raises $65M to save satellites from colliding As SpaceX sends bushels of Internet satellites into space, the problem of congestion near Earth’s orbit will become more and more difficult. LeoLabs is betting that preventing expensive space technology from colliding with other space tech, or even space trash, is going to be a growth industry.
3 Lessons We Learned After Raising $6.3 Million From 50 Investors
Two years ago, the founders of calendar-assistant platform Reclaim were looking for a “mango” seed round — a boodle of massive amounts of cash to help them transition from the prototype stage into staffing for a public launch.
Although the team received offers, co-founder Henry Shapiro says the few that did materialize were poor choices, partly because Reclaim was still a pre-product.
So one summer morning, my co-founder and I sat down in his garage—where we’d been prototyping, pitching, and iterating for the past year—and realized that as hard as it was, we’d have to walk away completely and Will do a complete reset on our fundraising strategy.
In a guest post for Xtra Crunch, Shapiro shared what he learned from embracing failure and presented three conclusions “every founder should consider before deciding to go out and pitch to investors.”
(ExtraCrunch is our membership program, which helps founders and startup teams grow. You can sign up here.)
Big Tech Inc.
Big Tech was busy again today with news from Waymo, Twitter, and Blackstone. We also have to talk about the law.
- Now You Can Cheer on Waymo Taxis in Google Maps: Vertical integration, baby! It’s a jam if you’re a platform company that builds self-driving cars, operates a taxi service, and publishes what I believe is the most popular mapping software in the world.
- In related news: Waymo, Providence, Rhode Island, Bring Self-Driving Taxis to Cowards!
- In a related apology: Waymo is not made up of cowards, but simply businessmen, who should invest more of their testing budget in Providence, Rhode Island.
- Twitter wants to hear from you: Twitter is putting its Spaces product more front and center in its mobile experience. Sure, for today you just use Tweets, but Big Tweets will soon want to send out your newsletters, host your chats, and, at the same time, distribute to your fleet.
- A court case draws boundaries around a controversial US hacking law: Per ClearTips, the US Supreme Court ruled that “a police officer who searched a license plate database for an acquaintance in exchange for cash did not violate US hacking laws” in a “historic decision”. [that] Ends a long-running case that clarifies the controversial Computer Fraud and Abuse Act, or CFAA. “
- In terms of legal news and technology, it’s good to get some good news.
- And finally, Blackstone is buying IDG: While your humble ClearTipsers are somewhat sensitive to the idea of media properties buying private equity, the Blackstone-IDG deal is another example of the trend.
- The deal means that titles such as “CIO, Computerworld, Infoworld, Macworld, Network World, PCWorld and Tech Hive” are changing hands with IDC as well.