Others

Neon, a relational database startup, lands ~$30M investment

August 1, 2023
Neon, a startup that’s building a serverless open source alternative to AWS Aurora Postgres, today announced that it raised around $45 million in a new funding round, about $30 million of which came from Menlo VC. Bringing its total raised to $104 million, the new cash will be put toward improving Neon’s developer experience and […]

Uber reports first quarterly operating profit in Q2 2023 results

August 1, 2023
Uber has reported an operating profit during a fiscal quarter for the first time in its history. The company reported its second quarter earnings for 2023 [PDF] on Tuesday morning, which included a net income of $394 million for the quarter, up $1.0 billion year-over-year and $588 million versus the preceding quarter. The company attributed […]

Steg.AI puts deep learning on the job in a clever evolution of watermarking

August 1, 2023
Watermarking an image to mark is one’s own is something that has value across countless domains, but these days it’s more difficult than just adding a logo in the corner. Steg.AI lets creators embed a nearly invisible watermark using deep learning, defying the usual “resize and resave” countermeasures. Ownership of digital assets has had a […]

Vanguard cuts Indian ride-hailing giant Ola’s valuation by 52%

August 1, 2023
The U.S. index fund pioneer Vanguard has cut the worth of its holding in the Indian ride-hailing startup Ola by more than half since original investment, according to an analysis of its filings. Vanguard cut the worth of its shares in Ani Technologies, Ola’s holding firm, by 51.6% as of the end of May, it […]

Traction raises $6M seed as Nigeria’s merchant acquiring space continues to heat up

August 1, 2023
Micro, small, and medium-sized firms (MSMEs) constitute the backbone of the Nigerian economy, accounting for more than 60% of GDP growth and playing a crucial role in job creation. According to the National Bureau of Statistics, there are over 39 million such firms, and 87% operate informally, meaning they primarily receive cash and perform activities […]

Nigeria’s Remedial Health gets QED backing in $12M round

August 1, 2023
Remedial Health, a Nigerian startup digitizing pharmacies and bringing efficiency to the pharmaceutical value chain, has raised $12 million Series A equity-debt funding, to scale operations in the West African country. Fintech VC firm QED Investors co-led the round, banking on embedded financial opportunities like payments, and lending in the pharmaceutical sector. This is QED’s […]