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After contentious debate, FDA approves first Alzheimer’s drug since 2003

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On Monday, the US Food and Drug Administration granted approval to a keenly-watched Alzheimer’s drug, aducanumab, developed by the drugmaker Biogen. The decision to approve the drug, which was once abandoned as a failure, has been the subject of debate within the scientific and regulatory community for months.

Aducanumab, which will be marketed as Aduhelm, is the first novel Alzheimer’s treatment to be approved since 2003, the FDA noted in a press release. Aducanumab is also the first novel treatment designed to address one of several proposed underlying causes of Alzheimer’s: the buildup of beta-amyloid plaques in the brain that disrupt the communication of neurons. 

Critically, the drug received a conditional form of FDA approval called the ‘Accelerated Approval Program.’ The accelerated approval pathway is designed to provide early access to drugs for serious conditions if they address markers of disease – even when the FDA has misgivings about the overall results of clinical trials. Because of this, Biogen will still have to conduct a post-approval confirmatory trial of aducanumab. 

If the drug does not work as intended, we can take steps to remove it from the market. But hopefully, we will see further evidence of benefit in the clinical trial and as greater numbers of people receive Aduhelm,” the FDA statement reads. 

TechCrunch has contacted Biogen for comment on the upcoming confirmatory trial, and will update this story with Biogen’s response. 

The use of the accelerated approval pathway is clearly intended to address lingering controversies that have plagued aducanumab in the months leading up to the FDA’s ruling. 

In early-stage trials, there were promising signs that aducanumab might slow cognitive decline, a major Alzheimer’s symptom. In a 2016 trial published in the journal Nature, 125 patients with mild or moderate Alzheimer’s who received monthly infusions of the drug saw levels of plaques decrease, as did symptoms of cognitive decline. 

The decline of the plaques in the brain were “robust and unquestionable” as one Lancet Neurology paper puts it, but the clinical findings were more modest – it wasn’t clear exactly how much people’s cognitive ability benefitted from the treatment. 

These early trials eventually led the FDA to allow the drug to skip phase 2 clinical trials, which are designed to identify dosages of the drug, and proceed directly to phase 3 clinical trials. This move was criticized by some physicians. 

Those phase 3 clinical trials, called ENGAGE and EMERGE, have become the center of tension. Both trials tested monthly intravenous injections of the drug on about 1600 patients with early Alzheimer’s. In 2019, both trials were halted because the drug didn’t appear to be slowing cognitive decline, the primary endpoint of the trials. 

Additional data analyzed in late 2019 from the EMERGE trial suggested that the drug was linked with a 23 percent less cognitive decline, compared to a placebo. There were side effects: namely swelling and inflammation of the brain. This was seen in about 40 percent of Phase 3 trial participants, though most were symptomatic and most of those with symptoms (headache, nausea, visual disturbances) resolved after 4-16 weeks. 

Still, even the new data wasn’t enough to convince an independent FDA advisory committee, who, in November 2020 did not endorse approval of the drug. 

On Monday, The FDA, argued that the drug’s effects on beta-amyloid plaques were strong enough to suggest that benefit outweighed the risk. Critically, the FDA did not comment on the strength of clinical outcomes – in short, the agency is basing this approval on the drug’s ability to address beta-amyloid plaques, not how well each patient cognitive function responds to the drug. The followup study will need to address that outcome directly. 

Still, about 6 million people have Alzheimer’s in the US, and patient organizations have rallied in response to this drug. The Alzheimer’s Association has hailed the drug as a “victory for people living with Alzheimer’s.” 

Ahead of the FDA’s decision on Monday, it was clear that, should aducanumab be approved, it would soon become a “blockbuster drug.” The financial picture around the drug seems to support that idea. 

Trading of Biogen shares were initially halted, but have since jumped 40 percent today, following the announcement. Shares of Eisai Co. Ltd, a Japanese company working with Biogen jumped over 46 percent in the first three hours following the FDA’s approval. 

Certainly, Biogen was banking on this approval as a long-term strategy. In an April 2021, earnings presentation, the company estimated that there were 600 sites ready to launch the treatment post-approval. Biogen has also submitted marketing authorization applications for aducanumab in Brazil, Canada, Switzerland and Australia. On June 7, the company announced that a year’s supply of the drug would cost $56,000

In the wider world of Alzheimer’s drugs, it’s possible other companies may see this approval as proof-of-concept for other drugs targeting beta amyloid plaques. 

In an editorial that accompanied the 2016 Nature paper on aducanumab, Eric Reiman, executive director of Banner Alzheimer’s Institute, argued that scientific confirmation that beta-amyloid-targeted treatment slows cognitive decline would be a “game changer.” The aducanumab trials have been likened to a test of this idea. Speaking to The Financial Times, Howard Filit, founding executive director of the Alzheimer’s Drug Discovery Foundation, called aducanumab “the first rigorous test of the beta-amyloid hypothesis.”

In that sense, conditional approval may indicate that the FDA is sympathetic to this form of Alzheimer’s treatment. 

There’s at least one more beta-amyloid targeted drug from a major drugmaker (Eli Lilly) clinical trials. We may see some more of them emerge soon, provided that Biogen’s confirmatory study of aducanumab doesn’t prompt the FDA to withdraw approval. 

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Source: https://techcrunch.com/2021/06/07/after-contentious-debate-fda-approves-first-alzheimers-drug-since-2003/

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Crypto finance startup Amber Group raises $100M at $1B valuation

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More mainstream venture capital firms are jumping on the crypto bandwagon as investors increasingly consider bitcoin an investable asset, despite the recent massive price drops of a few major cryptocurrencies. Amber Group, a Hong Kong-based cryptocurrency trading startup, said on Monday it has raised $100 million in a Series B funding round at a pre-money valuation of $1 billion.

The latest valuation is ten times that of the company’s Series A closed in 2019, a $28 million round that counted Coinbase Ventures as one of its investors. Also notably, Amber’s Series B financing was bankrolled by a list of high-profile financial and VC firms, including China Renaissance, which led the round, and Tiger Brokers, Tiger Global Management, Arena Holdings, Tru Arrow Partners, Sky9 Capital, DCM Ventures, and Gobi Partners.

Its past investors Pantera Capital, Coinbase Ventures, and Blockchain.com also participated in the round.

In May, Babel Finance, another crypto asset manager based out of Hong Kong, secured $40 million in funding from a number of big-name institutional investors, including Amber’s investor Tiger Global.

Founded by a group of former investment bankers in their twenties, Amber initially set out to apply machine learning algorithms to quantitative trading but pivoted in 2017 to crypto when the team saw spikes in virtual currency’s trading volumes. The startup now serves both institutional and individual investors, offering them algorithmic trading, electronic market-making, high-frequency trading, OTC trading, borrowing and lending, derivatives, among other products.

The firm launched its mobile app in the third quarter of 2020, widening its scope from institutional clients to retail consumers. It said the trading app has so far accumulated over 100,000 registered users.

Amber has been profitable since its inception, according to its co-founder and CEO Michael Wu, with annualized revenues of $500 million based on figures from January to April 2021.

The startup has seen “record months over the past quarter across both client flow and on-exchange market-making volumes,” said Wu, and it now accounts for “2-3% of total trading volumes in major spot and derivative markets.” Its cumulative trading volumes have doubled from $250 billion since the beginning of the year to over $500 billion. Altogether, it manages around $1.5 billion in trading capital that varies based on BTC and ETH prices.

Amber has over 330 employees worldwide across Hong Kong, Taipei, Seoul, and Vancouver. The proceeds from its Series B will go towards global expansion.


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Source: https://techcrunch.com/2021/06/20/crypto-finance-startup-amber-group-raises-100m-at-1b-valuation/

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Dollars, deals and the importance of nondilutive capital

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Today, on Juneteenth, we recognize the efforts this nation still needs to put toward addressing structural racism and disparities, including in the world of tech.

This week, HBCUvc, a nonprofit that aims to diversify the world of venture capital, launched a million-dollar fund. Founder Hadiyah Mujhid told me that the capital would provide nondilutive financing to overlooked founders, which they define as Black, Indigenous and LatinX entrepreneurs, replacing the traditional angel round. But she also admitted that supporting founders wasn’t the only primary goal. Instead, she explained to me the importance of what she defines as “teaching capital.”

Similar to how teaching hospitals give aspiring doctors a way to practice and learn their craft before formally entering the field, the fund wants to do that for their some 230 aspiring investors that they already work with, many stemming from historically Black colleges and universities. Notably, nondilutive capital provides entrepreneurs with funding sans equity and a learning experience with lower stakes.

There are a lot of organizations right now that are starting funds [with] the primary goal of supporting founders. And that’s a goal of ours, but we’re hoping to have a ripple effect of training and really providing on-ramps for the next best-in-class investors … and in order to do that, they have to have a training vehicle.

While I’m not always a fan of rebranded names for capital, “teaching capital” is certainly a compelling framing. Track record is everything in this industry, and underrepresented folks often don’t have the benefit or privilege of access on their side — from a dollar or deals perspective. Scout programs have long existed to fill this gap, but I think that there is still a lacking of intentionality around who feels empowered to write an investment memo, ask questions and be new. This week, BLCK VC launched its scout program and Google for Startups launched a nondilutive financing instrument for Black founders, underscoring a growing focus in seeding diverse entrepreneurs.

HBCUvc’s fund was announced nearly one year after it almost shut down due to a lack of capital. Mujhid explained how the unjust killing of George Floyd led to the biggest one-day donation in her nonprofit’s lifetime, which “changed the trajectory of programming.” She also said that a lot of interest was a knee-jerk reaction, urging people to view this work as a long-term commitment.

Down the creative capital rabbit hole we go:

In the rest of this newsletter, we’ll get into Waymo’s latest raise, the Nubank EC-1 and a Pittsburgh event that I can’t wait to nerd out about.

Waymo gets way more

Image Credits: Bryce Durbin

Waymo, Alphabet’s self-driving arm, raised $2.5 billion in its second-ever institutional round. Investors include Alphabet, Andreessen Horowitz, AutoNation, Canada Pension Plan Investment Board, Fidelity Management & Research Company, Temasek and, of course, Tiger Global.

Here’s what to know: Waymo is going external after some internal shuffling. The funding comes only months after CEO John Krafcik stepped down from his title after spending five years in that position. Last month, Waymo lost its CFO and head of partnerships.

For more, here are my favorite recaps of TC Sessions: Mobility:

The Nubank EC-1

Image Credits: Nigel Sussman

Another week, another EC-1! Marcella McCarthy wrote about Nubank, a Brazillian credit card and banking fintech company that just last week raised at a $30 billion valuation. It’s one of the most valuable startups in the world, with over 40 million users.

Here’s what to know: As McCarthy puts it in the piece, Nubank started by trying to solve a massive challenge: “How to rebuild the concept of a bank in a country where banking is widely hated, all while the incumbents heavily entrenched with the state worked to block every move.” Maybe, the story goes on to tell, it would start with California Street.

Check out each installment of the series below:

Around TC

In May, thousands of you read my Duolingo EC-1, a deep dive into Pittsburgh’s favorite edtech unicorn. Now, we’re taking you to Pittsburgh to hear from Karin Tsai, the head of engineering there, as well as Carnegie Mellon University President Farnam Jahanian, Mayor Bill Peduto and a smattering of local startups.

Our TC City Spotlight: Pittsburgh event will be held on June 29, so make sure to register here (for free) to listen to these conversations, enjoy the pitch-off and network with local talent.

Also, a friendly reminder that we’re making a list of the best growth marketers for startups. You can help us by nominating your favorites into this survey.

Across the week

Seen on TechCrunch

Seen on Extra Crunch

Thanks for reading, as always. Take care everyone!

N

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Source: https://techcrunch.com/2021/06/19/dollars-deals-and-the-importance-of-nondilutive-capital/

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This Week in Apps: Spotify debuts a Clubhouse rival, Facebook tests Audio Rooms in US, Amazon cuts Appstore commissions

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Welcome back to This Week in Apps, the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy.

The app industry continues to grow, with a record 218 billion downloads and $143 billion in global consumer spend in 2020. Consumers last year also spent 3.5 trillion minutes using apps on Android devices alone. And in the U.S., app usage surged ahead of the time spent watching live TV. Currently, the average American watches 3.7 hours of live TV per day, but now spends four hours per day on their mobile devices.

Apps aren’t just a way to pass idle hours — they’re also a big business. In 2019, mobile-first companies had a combined $544 billion valuation, 6.5x higher than those without a mobile focus. In 2020, investors poured $73 billion in capital into mobile companies — a figure that’s up 27% year-over-year.

This week we’re looking at more Clubhouse competitors, including Facebook’s first test of its Live Audio Rooms in the U.S. and Spotify’s launch of its Greenroom app for live discussions across an array of topics. Also, Amazon is reducing its Appstore fees, after similar moves by Apple and Google.

This Week in Apps will soon be a newsletter! Sign up here: techcrunch.com/newsletters

Spotify launches its Clubhouse competitor

Image Credits: Spotify

In March, Spotify announced it was acquiring the company behind the sports-focused audio app Locker Room to help speed its entry into the live audio market. This week, the company made good on that deal with the launch of Spotify Greenroom, a new mobile app and likely Clubhouse rival, that allows Spotify users worldwide to join or host live audio rooms, and optionally turn those conversations into podcasts.

The Spotify Greenroom app itself is based on Locker Room’s existing code, with the earlier Locker Room app basically updating to become Greenroom. To join the new app, Spotify users sign in with their current Spotify account information. They’re then walked through an onboarding experience designed to connect them with their interests. Spotify considers the app a soft launch, as it has plans to announce shows later this summer. It’s also funding shows through a new Creator Fund, whose details have not yet been revealed at this time.

Longer-term, the company believes it will be able to take advantage of its personalization tech to make smart recommendations about live shows, based on what music or podcasts a user listens to, and could notify users when favorite creators go live.

The bigger advantage Spotify has here is that its Greenroom sessions are recorded. After a show wraps, the creator can request an audio file which they can then turn into a podcast episode. This ability to straddle both worlds of live and recorded audio could prove to be more useful as the post-COVID world opens up, and users are no longer stuck at home, bored, able to tune in at any time to audio programs.

Amazon lowers its cut of app developer revenues

Amazon this week quietly announced it would follow in the footsteps of app store giants Apple and Google with its introduction of the Amazon Appstore Small Business Accelerator Program. The new program will reduce the commissions Amazon takes on app developer revenues for qualifying smaller businesses. Previously, Amazon’s Appstore took a 30% cut of revenue, including that from in-app purchases. Now, it will take only 20% from developers who earned up to $1 million in the prior calendar year. The company also said developers with less than $1 million in Appstore revenue in a calendar year will receive 10% of their revenue as promotional credit for AWS services, bringing the total program benefits up to an equivalent of 90% of revenue.

The program’s overall structure is similar to Apple’s App Store Small Business Program, announced in late 2020, which reduced Apple’s cut to 15% for developers who earn up to a $1 million threshold, after which they’re moved to the higher 30% standard rate. This rate then continues as they enter the following year. Google, more recently, took a slightly different course, by lowering the commissions to 15% on the first $1 million of developer revenue earned through the Play billing system each year.

The lack of attention to Amazon’s announcement, both in the developer community and by press, demonstrates how inconsequential Amazon’s own Appstore has become in the greater app ecosystem.

Platforms: Google

Android announced several new features which will roll out this summer, including starring text messages to easily find them later, getting contextual Emoji Kitchen suggestions depending on what you’re typing, as well as updates that emphasize security, safety and accessibility. The latter include updates to Google Assistant, Android Auto and Google’s Gaze detection feature.

A teardown of the newly released Google Play Services app (v.21.24.13) suggests Google is working on a “Find My Device” network that would allow Android users to locate your phone and other devices, similar to Apple’s “Find My.”

Google apps will return to Honor devices with the launch of the Honor 50 series devices. The company had not been able to ship Google apps, including the Play store, on its phones due to parent company Huawei’s placement on the U.S.’s entity list, which forced Google to pull its license. But Huawei sold off Honor last year, allowing it to work with Google again.

Google introduced AppSearch in Jetpack, which is now available in Alpha. AppSearch is an on-device search library that provides high-performance and feature-rich full-text search functionality, said Google, and lives completely on-device, allowing for offline search.

E-commerce/Marketplaces

Mobile-first marketplace OfferUp, which connects local buyers and sellers, hired a new CEO. The company brought on former Booking.com managing director Todd Dunlap as CEO, while co-founder and former CEO Nick Huzar will remain as chief product officer.

Social

After lawsuits, injuries and deaths, Snapchat finally removed its controversial “speed filter” which displays how fast a user was going at the time of posting. Critics argued the sticker encouraged reckless driving, as teens would try to post themselves traveling at excess speeds.

Snapchat launched Creative Kit for Spotlight, which will allow third-party apps to publish directly to Snap’s TikTok rival, Spotlight, similar to TikTok’s SDK. Early adopters include Videoleap, Beatleap by Lightricks, Splice, Powder and Pinata Farms.

ByteDance revenues more than doubled in the past year thanks to TikTok. According to an internal memo, ByteDance saw a 111% increase in revenues, to $34.3 billion, and a 93% increase in gross profit, to $19 billion in 2020.

Instagram’s TikTok rival, Reels, is rolling out ads worldwide. The ads will be up to 30 seconds in length, like Reels themselves, and vertical in format, similar to ads found in Instagram Stories. Also like Reels, the new ads will loop, and people will be able to like, comment on, and save them, the same as other Reels videos.

Twitter said it’s considering a new feature that would allow users to untag themselves from tweets, in order to control unwanted attention, like harassment and abuse. The feature could be useful when troll armies attack at scale before a user can block and report attacks or Twitter has a chance to respond.

Messaging

WhatsApp for iOS is making it easier for users to search for stickers. With a coming update, already live on TestFlight, users will be able to type a word or emoji and WhatsApp will animate the sticker button if a matching sticker is found.

Streaming & Entertainment

Image Credits: Apple

Apple Podcasts Subscriptions went live across more than 170 countries and regions this week. First unveiled this spring, subscriptions allow listeners to unlock additional benefits for their favorite podcasts, including things like ad-free listening, early access to new episodes, bonus material, exclusives or whatever else the podcast creator believes will be something their fans will pay for.

✨ Facebook CEO Mark Zuckerberg this week hosted the first test of Facebook’s Clubhouse competitor, Live Audio Rooms, in the U.S. The exec was joined by Facebook VP and Head of Facebook Reality Labs Andrew “Boz” Bosworth, Head of Facebook App Fidji Simo and three Facebook Gaming creators. It’s pretty incredible that Zuckerberg only months ago was appearing on Clubhouse to talk about the future of audio-based networking before essentially cloning the Clubhouse experience for Facebook’s own platform.

Streaming app Deezer launched a new iOS app, Deezer for Creators, which allows musicians and podcasters to track trends, audience insights and more, similar to Spotify for Artists.

An app for pirated movies and TV that disguised itself as a Sudoku game climbed up the App Store charts this week, before being pulled by Apple. The app, Zoshy+, seems to have circumvented App Review by taking advantage of server-side controls.

In a change that represents a significant shift underway in the creators economy, TikTok signed on as creator conference VidCon’s title sponsor for 2021, taking the spot formerly held by YouTube. The latter will still be involved as a secondary sponsor.

Apple-owned music identification and discovery app Shazam announced this week it had surpassed 1 billion Shazams per month. The company noted it took 10 years for Shazam to reach its first billion tags. Less than 10 years after that, Shazam has crossed 1 billion monthly recognitions and has successfully matched over 50 billion tags with over 51 million songs. At WWDC, Apple announced its plans for Shazam’s future with the launch of ShazamKit, which brings Shazam’s audio identification capabilities to third-party apps.

Gaming

Popular mobile game PUBG Mobile returned to India after being banned more than nine months ago. The game was banned as part of the country’s decision to boot out over 200 apps with links to China due to national security concerns. The new game has been rebranded to Battlegrounds Mobile India, but is largely the same same as before, but “with data compliance, green blood, and a constant reminder that you’re in a ‘virtual world’ with such messaging present as you start a game and when you’re in menus,” said IGN India editor Rishi Alwani.

Pokémon Go creator Niantic is working with Hasbro on a new AR game. Transformers: Heavy Metal, is being built by Very Very Spaceship for Niantic, and is scheduled for a 2021 release. The company has around a dozen games in development, including a collaboration with Nintendo to adapt its Pikmin game, and a game based on the board game Settlers of Catan.

An upcoming Apple Arcade update will bring a new, special edition of Alto’s Odyssey, a new Angry Birds title called Angry Birds Reloaded and a remastered Doodle God Universe. The update will be the largest since April.

Amazon’s cross-platform cloud gaming service Luna will open up priority access during Prime Day, June 21-22, meaning all Prime members will be able to access the service without an invite.

Mobile users worldwide downloaded 30% more games in the first quarter of 2021 than in the fourth quarter of 2019, and spent a record-breaking $1.7 billion per week in mobile games in Q1 2021, up 40% from pre-pandemic levels, per a new App Annie/IDC report.

Image Credits: App Annie

Productivity

An email that surfaced during the Epic trial discussed the issue of Apple’s Files app ranking first when users searched for a competitor’s app, Dropbox, for 11 months. The app had been manually boosted, the emails seemed to reveal. But Apple this week stated the issue was due to the Files app having a Dropbox integration. Apple put Dropbox in the metadata, causing it to rank higher — an explanation that doesn’t match up with the internal emails.

Home Automation

Third-party Alexa devices can now incorporate setup for their products in the Alexa app, thanks to an update to Alexa Voice Services.

Although Samsung’s SmartThings is no longer making its own smart home hardware, the company this week launched a new SmartThings mobile app on Android, which aims to make it simpler to get to actions and automations. The app includes a new Favorites section to replace the existing home screen, a Life section where users can explore new SmartThings services, plus pages for Devices, Automations and a Menu. The iPhone version will arrive soon.

An update to the Wyze mobile app added support for Google Home and Google Assistant, allowing users to control smart home devices with voice commands.

Government & Policy

A report published this week by U.S. advocacy group Fight for the Future and China-based GreatFire highlighted government censorship of LGBTQ+ apps around the world, due to government restrictions. It documented 1,377 cases of app access restrictions across 152 App Stores. However, the study contained several inaccuracies, Apple pointed out. For example, Grindr and Scruff are both available worldwide in the App Store, despite what the report said. Also, none of the 27 apps mentioned in the report with regard to China had been removed by Apple. Of the total 64 apps monitored, only four had been removed by a particular country because of legal issues.

Security & Privacy

A security bug in Google’s Android app, installed over 5 billion times, could have allowed attackers to steal personal data from a user’s device. Google says it fixed the vulnerability last month and found no evidence it had ever been exploited.

💰 Messaging social network IRL raised $170 million in a Series C round led by SoftBank’s Vision Fund 2, valuing the social events calendar and group chat app at $1.17 billion. New investor Dragoneer also participated in the oversubscribed round, alongside returning investors Goodwater Capital, Founders Fund and Floodgate. To date, IRL has raised over $200 million.

🤝 Delivery service Gopuff, which is available on web and mobile, acquired fleet management platform rideOS for $115 million. This acquisition comes a few months after the delivery startup announced a $1.15 billion funding round at a $8.9 billion valuation.

🤝 Spotify acquired Podz, a podcast delivery platform focused on solving issues around podcast discovery. Podz has been using machine learning to choose clips that can help introduce shows to new listeners. The startup had raised $2.5 million in pre-seed funding ahead of its acquisition. Deal terms weren’t disclosed.

📈  PUBG Mobile maker Krafton is preparing to raise $5 billion in a South Korean IPO, expected to be the country’s largest ever. The company will sell more than 10 million shares at 458,000 won to 557,000 won apiece, a filing said. It will finalize the price July 9 and list on July 22.

💰 Mobile banking app Novo, which targets an SMB customer base, raised $40.7 million in Series A funding, after growing its user base to 100,000 businesses.

💰 Mobile banking app FamPay, aimed at Indian teens, raised $38 million in Series A funding. Investors include Elevation Capital, General Catalyst, Rocketship VC, Greenoaks Capital, and others, and makes for one of India’s largest Series A rounds to date.

💰 Apna, a jobs app built by an Apple alum, raised $70 million in Series B funding co-led by Insight Partners and Tiger Global, valuing the business at $570 million. The app aims to help blue and gray-collar workers upskill themselves, find communities, and land jobs.

🤝 WordPress.com owner Automattic acquired popular journaling app Day One. The app has been downloaded more than 15 million times since its March 2011 launch on the Mac and iTunes App Store, offering users a private place to share their thoughts. Since then, it’s been awarded the App Store Editor’s Choice, App of the Year and the Apple Design Award, along with praise from various reviewers. Deal terms were not disclosed. Day One had been bootstrapped and self-funded for 10 years. The app will further integrate with other Automattic-owned writing platforms, including WordPress.com and Tumblr.

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Source: https://techcrunch.com/2021/06/19/this-week-in-apps-spotify-debuts-a-clubhouse-rival-facebook-tests-audio-rooms-in-us-amazon-cuts-appstore-commissions/

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Investors say Eindhoven poised to become Netherlands’ No. 2 tech hub

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Eindhoven might not immediately spring to mind as a high-tech hub, but the Netherlands city is keen to position itself as a center for deep tech in Europe.

The Technical University of Eindhoven, High Tech Campus Eindhoven, and locally based corporates like ASML and Philips have been eyeing initiatives across Europe and applying what they’ve learned to the region’s strategy. Philips launched in Eindhoven in 1891 and played no small part in the municipality’s ambitions to become a tech hub.

Eindhoven produces a high number of patents per year considering its small population and has been home to an inordinate number of hardware startups. The local High Tech Campus has a high hardware focus, for instance.

Our survey respondents consider the city strong in areas like photonics, robotics, medical devices, materials science, deep tech, automotive tech, sustainability tech, medtech, Big Data, hardware and precision engineering. They are looking for more mature startups and scaleups focused on AI and hard tech.

Eindhoven is considered weaker in fintech and consumer products, and it exists in a small region with limited global visibility.

Over the next five years, one respondent said, “Eindhoven will have evolved to the Netherlands’ second-largest tech ecosystem, behind Amsterdam. On a European scale, Eindhoven will have entered the top 10.”

To learn more about Eindhoven, we queried the following investors:


Robert AL, Systema Circularis

What industry sectors is your tech ecosystem strong in? What are you most excited by? What is it weak in?

High-tech systems, photonics, robotics, medical devices.

Which are the most interesting startups in your city?

Lightyear, Bio-TRIP, EFFECT photonics, Nemo Healthcare, Sorama.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?

Fully dedicated.

Who are the key startup people in your city (e.g., investors, founders, lawyers, designers, etc.)?

Steef Blok, Harm de Vries, Piet van der Wielen, Andy Lurling, Mark Cox.

Where do you see your city’s tech scene in five years’ time?

More mature, more focused on inclusive development, less quality coming from university spinoffs.

Nathan van den Dool, CEO, Space4Good

What industry sectors is your tech ecosystem strong in? What are you most excited by? What is it weak in?

High-tech systems and materials, the real high-tech and deep tech stuff that either leads to scientific breakthroughs or turns scientific breakthroughs into companies. Lithography makes a major contribution to that, as well as medical devices and production technologies.

Which are the most interesting startups in your city?

Nearfield Instruments, Optiflux, Dynaxion, AlphaBeats, Incooling.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?

They focus mainly on high-tech machine building and software development, AI.

With the shift to remote working during the COVID-19 pandemic, will people stay in your city, move out or will others move in?

Largely unaffected.

Where do you see your city’s tech scene in five years’ time?

More integrated between AI and hard tech and production.

Pepijn Herman, venture builder, Brabantse Ontwikkelings Maat schappij

What industry sectors is your tech ecosystem strong in? What are you most excited by? What is it weak in?

The pros are high-tech systems, collaboration culture and excellent startup ecosystem; The cons are that it’s a small region with limited visibility globally.

Which are the most interesting startups in your city?

LionVolt, DENS, Lightyear, Morphotonics.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?

They focus mainly on high-tech machine building and software development, AI.

With the shift to remote working during the COVID-19 pandemic, will people stay in your city, move out or will others move in?

Others will move in! Housing is extremely expensive but the demand for a skilled workforce is extremely high. If people move to surrounding areas, within 30 km, housing prices skyrocket all over.

Who are the key startup people in your city (e.g., investors, founders, lawyers, designers, etc.)?

BOM (that’s us!), Braventure, Brainport Development, TNO.

Where do you see your city’s tech scene in five years’ time?

Leading worldwide in several technology areas, mainly, high-precision, roll-to-roll processing atomic layer deposition, material handling, industry 4.0, silicon processing equipment.

Betsy Lindsey, CFO, Aircision

What industry sectors is your tech ecosystem strong in? What are you most excited by? What is it weak in?

The region is strong in deep tech, automotive tech, sustainability tech, medtech, Big Data, hardware and precision engineering. Most excited by sustainability tech and deep tech. The region is weak in fintech.

Which are the most interesting startups in your city?

Lightyear, Incooling.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?

Conservative, non-risk-taking — there are so many subsidies they don’t need to take risks, so once the tech risk is gone, they are good, but they are not global enough; hardware.

With the shift to remote working during the COVID-19 pandemic, will people stay in your city, move out or will others move in?

Hardware is hands-on — people are still moving in! We have a housing “crisis!”

Who are the key startup people in your city (e.g., investors, founders, lawyers, designers, etc.)?

Innovation Industries.

Where do you see your city’s tech scene in five years’ time?

More mature startups and scaleups on the scene!

Andy Lurling, founding partner, LUMO Labs

What industry sectors is your tech ecosystem strong in? What are you most excited by? What is it weak in?

The region is strong in sustainable cities, health and well-being, and education.

Which are the most interesting startups in your city?

FruitPunch AI, AlphaBeats, Vaulut, Lightyear, Serendipity.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?

Mainly hardware; LUMO Labs has an early-stage software focus.

With the shift to remote working during the COVID-19 pandemic, will people stay in your city, move out or will others move in?

Stay.

Who are the key startup people in your city (e.g., investors, founders, lawyers, designers, etc.)?

Nard Sintenie, Frank Claassen, Hans Bloemen.

Where do you see your city’s tech scene in five years’ time?

Competing on a global scale.

Han Dirkx, CEO and co-founder, AlphaBeats

What industry sectors is your tech ecosystem strong in? What are you most excited by? What is it weak in?

The region is strong in deep tech and health. I’m excited about opportunities for cooperation between different companies. It’s weak in seed investment.

Which are the most interesting startups in your city?

Lightyear, AlphaBeats, Carbyon, FruitPunch, Serendipity.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?

Tech investors are mainly government-regulated constitutions or angels. Focus on scaleup.

With the shift to remote working during the COVID-19 pandemic, will people stay in your city, move out or will others move in?

They will stay; working from home has some benefits but meeting people in an inspiring environment gives the best synergy.

Who are the key startup people in your city (e.g., investors, founders, lawyers, designers, etc.)?

LUMO Labs, HighTechXL, Andy Lurling, Sven Bakkes, John Bell, Guus Frericks, Bert-Jan Woertman.

Where do you see your city’s tech scene in five years’ time?

Leading in the world.

Jonas Onland, managing partner, Serendipity

What industry sectors is your tech ecosystem strong in? What are you most excited by? What is it weak in?

The region is strong in building sustainable and resilient cities and a platform between cities/society and tech market.

Which are the most interesting startups in your city?

Digital Toolbox (a Serendipity spinoff), Amber (mobility), Active Esports Arena and other portfolio companies of LUMO Labs.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?

Through LUMO Labs, there is a focus on societal investments; the rest is investment in high tech due to the big industries (VDLK, ASML, NXP, Phillips).

With the shift to remote working during the COVID-19 pandemic, will people stay in your city, move out or will others move in?

Work at home or mix in the office and at home.

Who are the key startup people in your city (e.g., investors, founders, lawyers, designers, etc.)?

A combination of accelerators (LUMO Labs, HighTechXL, Braventure) and Brainport (ecosystem management) supported by the Eindhoven University of Technology and big corporates.

Where do you see your city’s tech scene in five years’ time?

Leading in the world on societal/systemic change — moving from high-tech toward impact (more software and digitization).

Daan A.J. Kersten, CEO, PhotonFirst

What industry sectors is your tech ecosystem strong in? What are you most excited by? What is it weak in?

It’s strong in high-tech equipment, hardware, photonics, additive manufacturing, lighting, electronics, semiconductor technology and health tech, and weak in consumer products and apps.

Which are the most interesting startups in your city?

Lightyear, ELEO Technologies, EFFECT Photonics, SMART Photonics, PhotonFirst, Amber.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?

There is a relatively low number of investors in early stage.

With the shift to remote working during the COVID-19 pandemic, will people stay in your city, move out or will others move in?

They will stay. Eindhoven is a hot spot with many cultures, international tech community and great infrastructure, while it feels like a village.

Who are the key startup people in your city (e.g., investors, founders, lawyers, designers, etc.)?

Nard Sintenie, startup founders, HighTechXL.

Where do you see your city’s tech scene in five years’ time?

Worldwide dominance in high-tech hardware scaleups.

Daniel den Boer, CEO and co-founder, Vaulut

What industry sectors is your tech ecosystem strong in? What are you most excited by? What is it weak in?

The Eindhoven ecosystem is really strong in the sectors of mobility, smart city and energy. I’m most excited about smart city. This is our focus sector and it is the embodiment of ecosystem collaboration with impact solutions.

Which are the most interesting startups in your city?

Vaulut, Roseman Labs, FruitPunch AI, Amber, Sendcloud, Lightyear.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?

The investment scene is getting better. They are increasingly realizing that deep tech takes time and needs to be nurtured, but the potential impact is massive and can have a dramatic effect on the entire ecosystem. There are still relatively few early-stage impact drive investors. LUMO Labs is leading the pack on that front.

With the shift to remote working during the COVID-19 pandemic, will people stay in your city, move out or will others move in?

I think more people will stay as the need to move to Amsterdam as the tech hub of the Netherlands diminishes, giving Eindhoven a boost to strengthen its own ecosystem, which will in turn make even more people stay and attract people to move in the city. As a result, COVID-19 will have a positive effect on Eindhoven’s tech ecosystem, I believe.

Who are the key startup people in your city (e.g., investors, founders, lawyers, designers, etc.)?

LUMO Labs, the Eindhoven University of Technology, High Tech Campus, Amber, Brainport Eindhoven.

Where do you see your city’s tech scene in five years’ time?

In five years, I believe Eindhoven will have evolved to Netherlands’ second-largest tech ecosystem, behind Amsterdam. On a European scale, Eindhoven will have entered the top 10.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://techcrunch.com/2021/06/18/investors-say-eindhoven-poised-to-become-netherlands-no-2-tech-hub/

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