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Messaging Software Startup Aampe Raises Rs 13 Crore From Sequoia India Surge

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  • Aampe is a Singapore-based startup that embeds experiments within routine messaging to turn consumer communication into a business growth engine.
  • The startup will use the funding for product development to serve global customers.

Singapore-based personalized messaging software startup Aampe has raised $1.8 million (or about Rs 13.2 crore) in funding led by Sequoia India scale-up program Sequoia India Surge.

The startup with fresh funding plans to accelerate its growth momentum and product development to serve the customers globally.

Last week, US-based venture capital firm Sequoia Capital had announced the names of 17 startups, including Aampe, Kyt, Pagarbook, Plum, among others.

The selected startups received a total of $45 million in their financing rounds from Sequoia Surge and other investors.

From the last few months, Sequoia scale-up program is actively investing in startups from industries, including edtech, fintech, consumer tech, health tech, developer tools, B2B marketplaces, and tech for small and medium-sized enterprises.

Commenting on the development, Paul Meinshausen, Co-founder, Aampe, said, “As a data scientist, I’ve struggled repeatedly across multiple companies with the quality of tools for user messaging. Naive automation has been prioritized over reliable inference and quality data generation. We’re building Aampe to make first-class data science serve one of the most important responsibilities of any business: speaking and listening to customers,”

Also Read: Kalpathi Group Enters Edtech Space, Launches Veranda Learning

“While this is true to some extent, the usefulness of data also degrades quickly — and many companies underestimate the importance of continuously generating new and high-quality data. Aampe’s APIs do this and feed that data back into product development at both strategic and tactical levels,” he added.

Founded in July 2020, by Sami Abboud, Schaun Wheeler, and Paul Meinshausen. Aampe uses machine learning to personalize messages and communication for customers, helping businesses drive better customer retention and growth.

Since its inception, Aampe has acquired customers across Asia, including India, Singapore, Myanmar, and Indonesia.

The startup helps product managers to unlock the power of data and continuous experimentation to deliver the business value.

Aiming for seamless integration, Aampe’s APIs, and reinforcement learning pipelines and models can be easily plugged into messaging and communication providers that companies already use. This allows product managers, data scientists, and growth marketers to avoid expensive and time-intensive engineering projects. 

Aampe also has its offices in Antwerp (Belgium) and Raleigh (USA).

with inputs from PTI (Press Trust Of India)

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Source: https://indianstartupnews.com/news/messaging-software-startup-aampe-raises-rs-13-crore-from-sequoia-india-surge/?utm_source=rss&utm_medium=rss&utm_campaign=messaging-software-startup-aampe-raises-rs-13-crore-from-sequoia-india-surge

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SpaceX gears up for Record-breaking Satellite Launch – Top Tech News

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Here are the top trending news from the world of technology..  

1

SpaceX gears up for Record-breaking Satellite Launch

As early as Saturday morning, SpaceX will be earning yet another feather in its cap by launching most number of satellites in a single mission. Elon Musk’s satellite company will be launching total 143 satellites into sun-synchronous orbit as part of its rideshare program that was announced in late 2019. If the mission becomes successful then SpaceX will be breaking the record of Indian space agency ISRO’s previous record of most satellites launched. In 2017, ISRO had launched 104 satellites into few sun-synchronous orbits.

2

Pinterest launches new AR feature for eye shadow styling

Pinterest is ramping up its virtual makeup try-on capabilities by rolling out a new augmented reality feature that will allow online shoppers to virtually try out new eye-shadow linear. As of now, customers can try 4,000 shades offered by brands like Lancome, YSL, Urban Decay and NYX cosmetics.

3

World gets to experience first-ever virtual reality premier with Baba Yaga

Last week, the world got the novel experience of witnessing one of its kind Hollywood movie premiers. Nothing was unusual about last week’s Baba Yaga’s premier except for the fact that it was all virtual and not real. In the post-pandemic era, the creator of short film Baba Yaga thought of giving a VR touch to its movie premier, which allowed everyone to enjoy the premier in the comfort of their home. Of course, they all needed a VR headset to enjoy the movie premier.

4

After Timnit Gebru, Google suspends Ethical AI Team Lead Margaret Mitchell

Google has reportedly revoked the privileges of its ethical AI team leader Margaret Mitchell and has put her under investigation for her alleged controversial activities. If Google does fire Mitchell then she will be the second outspoken critic in Google’s Ai team to be sidelined in a month.

Source: https://www.techpluto.com/spacex-gears-up-for-record-breaking-satellite-launch/

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How fintech and serial founders drove African pre-seed investing to new heights in 2020

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When Stripe-subsidiary Paystack raised its seed round of $1.3 million in 2016, it was one of the largest disclosed rounds at that stage in Nigeria. 

At the time, seven-figure seed investments in African startups were a rarity. But over the years, those same seed-stage rounds have become more common, with some very early-stage startups even raising eight-figure sums. Nigerian fintech startup, Kuda, which bagged $10 million last year, comes to mind, for example.

Also notable amidst the growth in seven and eight-figure African seed deals have been gains in pre-seed fundraising. Typically, pre-seed rounds are raised when the startup is still in the product development phase, yet to make revenue or discover product-market fit. These investments are usually made by third-party investors (friends and family), and range between $25,000-$150,000.

But the narrative as to how much an early-stage African startup can raise as pre-seed has changed. 

Last year, African VCs who usually fund seed and Series A rounds began partaking in pre-seed rounds, and they don’t seem to be slowing down. Just a month into 2021,  Egyptian fintech startup Cassbana raised a $1 million pre-seed investment led by VC firm Disruptech in a bid to drive expansion within the country.

So why the sudden change in appetite from investors?

Andreata Muforo is a partner at TLcom Capital, a pan-African early-stage VC firm. She told TechCrunch that last year’s run of 23 pre-seed rounds (10 of which were $150,000+ deals) per Briter Bridges data, was due to the confidence investors had in the market, especially fintech.

Startups building financial infrastructure got noticed

While most African pre-seed investments in 2020 went to fintech, there were exceptions, including Egyptian edtech startup Zedny, which raised $1.2 million; Nigerian automotive tech startup Autochek Africa, which raised $3.4 million; and Nigerian talent startup TalentQL, which raised $300,000. 

Just as Paystack and Flutterwave built payment infrastructure for thousands of African businesses, these fintech startups are trying to make their mark in the sweet spots of credit and banking. 

“Fintech is compelling. But while most fintech startups play around the commodities side of fintech, it’s the companies building infrastructure around the market that got most of the pre-seed validation last year,” Muforo said. Her firm, TLcom, led the $1 million pre-seed investment in Okra.

Okra is an API fintech startup. So are Mono, OnePipe and Pngme. They are building Africa’s API infrastructure that connects bank accounts with financial institutions and third-party companies for different purposes. Within the past 18 months, Mono and Pngme raised $500,000, while OnePipe raised $950,000 in pre-seed.

It is noteworthy that while these startups are clamoring to solve Africa’s open API banking issues, three of the four deals came after Visa’s $5.3 billion acquisition of Plaid last year in January.

Although the Visa-Plaid acquisition has now been called off, it is safe to say some African investors developed FOMO, handing out sizable checks to fund “Africa’s Plaid” in the process.

Digital lenders remain one of their most important customers for fintech API startups. They can access customers’ financial accounts to understand their spending patterns and know who to loan to.

Egypt’s Shahry and Nigeria’s Evolve Credit are fintech startups building credit infrastructure for their markets. Evolve Credit connects digital lenders to those who need loan services in Nigeria via its online loan marketplace. Shahry, on the other hand, employs an AI-based credit scoring engine so users in Egypt can apply for credit. The pair also secured impressive pre-seed funding — Evolve Credit, $325,000, and Shahry, $650,000.

A recurring theme: Serial founders

Muforo points out that aside from startups building fintech infrastructure, the caliber of founders was another reason pre-seed funding peaked last year.

Adewale Yusuf, co-founder and CEO of TalentQL, a startup that hires, manages and outsources talent for Nigerian and global companies, seemed to agree. He told TechCrunch that trust between the VCs and founders involved played a major role in most pre-seed rounds last year. 

“It wasn’t surprising that a lot of investors put money in pre-seed rounds. I say this because we also saw existing founders and serial entrepreneurs coming back to the market. To me, these founders’ credibility was a major part of why those rounds were large,” he said.

A second-time founder himself, Yusuf is the co-founder of Nigerian tech media publication Techpoint Africa. His partner at TalentQL, Opeyemi Awoyemi, is also a serial entrepreneur. He co-founded Ringier One Africa Media-owned Jobberman, one of Africa’s most popular recruitment platforms.

According to Adedayo Amzat, founder of Zedcrest Capital, which is the lead investor in TalentQL’s round, the founders’ experience proved vital in closing the deal. 

He says investors are more comfortable backing experienced founders in pre-seed rounds because they have a more mature understanding of the problems they’re trying to solve. So, in essence, they tend to raise more capital.

“If you look at pre-seed sizes, experienced founders can demand a significant premium over first-time founders,” Amzat said. “Pre-seed valuation cap for first-time founders will typically be between 400K to $1 million while we frequently see up to $5 million for experienced founders.” 

It was a recurring theme last year. Yele Bademosi, who runs Microtraction, a West African early-stage VC firm, is the CEO of Bundle Africa, a Nigerian-based crypto-exchange startup that raised $450,000 in April 2020. 

Shahry co-founders Sherif ElRakabawy and Mohamed Ewis also run Egypt’s largest shopping engine and price comparison website, Yaoota.

Mono co-founder and CEO Abdulhamid Hassan was the co-founder of Nigerian fintech startup OyaPay and data science startup Voyance. Also, Etop Ikpe, the co-founder and CEO of Autochek Africa, was CEO of DealDey and Cars45.

That said, Fara Ashiru Jituboh of Okra and Akan Nelson of Evolve Credit as first-time founders got investments that most of their counterparts would only dream of. For Jituboh, her solid tech background spoke for her — boasting a senior software engineering job at Pexels and engineering consultant role at Canva before founding Okra.

“We backed Fara because she’s a strong tech founder. When you look at the core of what Okra does as a tech-heavy company, you see how important it was to make the decision,” Muforo said about backing Okra’s CEO and CTO.

Nelson also told TechCrunch that his finance background helped Evolve Credit raise its six-figure sum. The team’s bullishness on finding product-market fit and the potential of Africa’s loan marketplace was also enough to bring foreign and local VCs like Samurai Incubate, Future Africa, Ingressive Capital and Microtraction on board.

While early-stage investments in African startups haven’t reached full speed, the explosion in the number of angel investors has lowered entry barriers into early-stage investing. 

Now investors are beginning to show readiness toward African startups that have promise as they continue to search for the next Paystack. 

“More people are willing to take risks now in the market, especially angel investors. They can easily let go of $10K-$50K because of success stories like Paystack,” Yusuf said about the $200 million acquisition by U.S. payments startup Stripe

For all of its significance to the African tech ecosystem, what particularly stands out about Paystack’s exit is the return on investment made for early investors.

By the time it exited in October 2020, some angel investors had an ROI of more than 1,400% according to Jason Njoku in his blog post. Njoku, who took part in the round as an angel investor, is the CEO of IROKO, a Nigerian VOD internet company.

For Muforo, witnessing more early-stage investments is a big deal, one the African tech ecosystem should savor regardless of the round in question.

“Pre-seed or seed are just names investors and founders give,” she said. “What I think is most important is the fact that we’re getting more early-stage capital into Africa, and startups are getting more attention from investors, which is fantastic.”

Source: https://techcrunch.com/2021/01/22/how-fintech-and-serial-founders-drove-african-pre-seed-investing-to-new-heights-in-2020/

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AI Tech Company Uniphore Acquires Spain-based Emotion Research Lab

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  • With this acquisition, Emotion Research Lab employees’ will be joining the Uniphore team to create voice and video combined AI products.
  • The acquisition will also help Uniphore tap and expand its presence in the European market.
  • Emotion Research Labs uses AI and ML-driven technology to identify emotion and engagement in a live video interaction.

Palo Alto-based AI technology company Uniphore, on January 21, announced that it has acquired Valencia-based Emotion Research Lab for an undisclosed amount.

With this acquisition, Emotion Research Lab employees’ will be joining the Uniphore tech team to create voice and video combined artificial intelligence products for the enterprise, which will be released in the second half of 2021.

Further, The acquisition will also help Uniphore tap into the European market and expand its presence in the European countries by the FY22. 

Founded in 2014 by Alicia Mora and María Pocoví, Spain-based Emotion Research Labs uses facial recognition and eye-tracking technology to identify emotion and engagement in a live video interaction.

The company offers its services to various business segments such as Clinical Research, Psychology, Marketing, Robotics, Security, etc.

Through its AI-driven technology, It can also detect attention span, engagement, and other essential demographics, the company said in a press release.

Commenting on the acquisition, Maria Pocovi, CEO & Co-founder, Emotion Research Lab said, “We are looking forward to this unique opportunity to join such an innovative company and work together alongside a world-class team to scale our technology for customer service.”

Combining Uniphore’s Conversational Service Automation (CSA) solutions, which understands, analyzes, and automates voice conversations in real-time, Emotion Research Lab’s extensive video-focused AI capabilities will deliver entirely new applications and experiences across the enterprise, the statement said.

Also Read: Deeptech Startup LightSpeedAI Labs Raises Funding From YourNest Venture Capital And Others

Combining voice and video AI with automation and machine learning will open up new use cases, including customer experience, sales, marketing, HR and other critical areas of business, the statement added.

“Today we welcome the Emotion Research Lab family to Uniphore and celebrate the addition of not only cutting-edge technology to our portfolio but a very talented team of professionals who will add high voltage charges to the Uniphore innovation engine. This current pandemic has reshaped traditional customer service and has universally increased the use of video across a range of applications,” said Umesh Sachdev, CEO & Co-founder of Uniphore. 

“I am very excited to have Maria, Alicia and the rest of the Emotion Research Lab team join us as we work together and bring our customers the next generation of innovations in AI and automation,” he added.

This is Uniphore’s second technology acquisition after it acquired Robotic Process Automation (RPA) technology from NTT DATA in October 2020.

Follow IndianStartupNews on FacebookInstagramTwitter for the latest updates from the startup ecosystem.

Source: https://indianstartupnews.com/news/ai-tech-company-uniphore-acquires-spain-based-emotion-research-lab/

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Brightly raises $1M for eco-friendly e-commerce and content platform, following the Goop playbook

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Liza Moiseeva (left) and Laura Alexander Wittig, co-founders of Brightly. (Brightly Photo)

Laura Alexander Wittig and Liza Moiseeva have turned a simple podcast about sustainable living into a full blown platform for content, community, and online shopping.

The entrepreneurs are co-founders of Brightly, a Seattle startup that just reeled in $1 million to fuel its momentum.

They launched their Good Together podcast in 2019, partly as a way to see if their branding and voice around eco-conscious product recommendations and general life tips would resonate with “conscious customers” — and it did, quickly rising up the podcast charts.

The podcast also caught the attention of Snapchat, which accepted Wittig and Moiseeva into its Yellow Accelerator program this past February.

Brightly then took shape, building off the podcast and creating more content geared toward sustainable living. The company figured out a way to earn revenue by partnering with brands and featuring their products. Brightly also participated in the Seattle-based Female Founders Alliance accelerator, which opened up conversations with investors.

Its community grew rapidly last year, with millions of new followers across TikTok and Instagram channels. The company now reaches more than 250,000 women daily and has an ambassador program of more than 10,000 members who share ideas and recommendations on Brightly’s apps.

Now the startup is ready to step on the gas, with plans to grow its 5-person team and add an e-commerce arm later this year.

“Our main goal is to empower billions of conscious consumers to change the world through simple, everyday steps,” Wittig said.

In some ways, Brightly is following the blueprint laid out by Goop, the wellness and lifestyle brand founded by actress Gwyneth Paltrow that started as a weekly newsletter. Another similar example is Glossier co-founder Emily Weiss, whose cosmetics company originally started as a blog called Into the Goss.

“It’s a combination of community and content to drive commerce,” Wittig said. “This is the future of how companies are going to be built. Rather than chasing customers to come in your door, you can establish relationships before you even ask them to pull out their wallet.”

Wittig said the pandemic has made people think more deeply about what they buy and who they buy from, whether it’s the local restaurant down the street or an eco-friendly product manufacturer.

Brightly differentiates itself from other marketplaces or e-commerce giants such as Amazon with its curation and vetting process, Wittig said.

“It’s truly allowing people to see the story behind products and forming an emotional relationship with the product,” she noted.

Wittig previously worked at Amazon, Adobe, Sephora, and Google, where she helped lead a social impact program. Moiseeva was a co-founder and exec at GlobeIn, which sold a fair trade subscription box.

Wittig is based in Seattle while Moiseeva is in the Bay Area. Brightly will have a presence in Seattle but is “remote-first,” following a pandemic-driven trend of startups not tying themselves down to one physical location.

Investors in the round include Tacoma Venture Fund; Keeler Investments; and the Female Founders Alliance. Odile Roujol, the former Lancôme CEO, also invested through her firm FAB Ventures.

“I founded FAB Ventures to back purpose-driven entrepreneurs,” Roujol said in a statement. “I’m excited to put this capital to work backing Brightly’s female founders, building a vibrant community of GenZ and Millennials, and scaling conscious consumerism. We can all make a difference.”

Source: https://www.geekwire.com/2021/brightly-raises-1m-eco-friendly-e-commerce-content-platform-following-goop-playbook/

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