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Tiger Global in talks to lead over $100M investment in India’s Slice

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A number of high-profile investors are chasing to invest in Slice, a fintech startup that is attempting to expand the market for credit cards in India.

Tiger Global is in advanced stages of talks to lead a round of over $100 million in the Bangalore-based startup, sources familiar with the matter told me.

A number of other firms, including Insight Partners, Ribbit Capital and Greenoaks, are also engaging with the startup, sources said, requesting anonymity as the matter is private.

Deliberations are ongoing and the terms can change, sources added.

Slice, which has raised around $30 million in its previous equity financing rounds and was valued at under $200 million in a round earlier this year, declined to comment. Slice counts Blume Ventures, Gunosy Capital and Better Capital among its investors.

Tiger Global declined to comment.

Even as hundreds of millions of Indians today have a bank account, only about 30 million have a credit card. Most people in the South Asian market are not eligible to get a credit card, and even many of those who are don’t bother to get one because the experience of signing up is too clumsy, time consuming and the rewards don’t make up for it.

Slice has made it easier for far more people — even those without a traditional full-time job — to get a card, and the signup process is swift. In the past two years, Slice has emerged as one of India’s largest card-issuing firms.

It has also become aggressive to reach potential customers. Last month, the startup launched a card with 2,000 Indian rupees ($27) as the default limit to tap the nation’s potential addressable market of 200 million individuals.

In a separate announcement earlier this week, Slice said it issued 110,000 cards last month. The startup, founded by Flipkart alum Rajan Bajaj, says it has more than 3 million registered members, whose average age is 23.

It is also exploring applications atop of blockchain, according to Bajaj’s LinkedIn and the startup’s recruitment posts. Last week, the firm announced that it is offering new hires a three-day week with steady pay and benefits to attract talent that wishes to work on other opportunities — or do whatever else they like — at the same time.

Tiger Global has emerged as the most aggressive growth-stage investor in India in recent quarters. It has backed over two dozen startups in India this year, propelling many of them to the covet unicorn club.

Image Credits: CB Insights

India’s startup ecosystem witnessed a record 519 deals in the quarter that ended in September this year, research firm CB Insights said in a report on Thursday. During the same quarter, the startups raised $9.9 billion, compared to $10.3 billion in all of last year, the report said. Sequoia Capital India was the most prolific investor in the world’s second largest internet market during the quarter with 33 deals.

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Source: https://techcrunch.com/2021/10/07/tiger-global-slice-india-fintech/

Blockchain

The DeFi Smart Contract Automation Network Gelato Raised $11M in its Series A Funding

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Gelato, a smart contract automation network focused on the DeFi sector, announced that it has raised $11 million led by Dragonfly Capital in its Series A financing.

In this round of financing, main supporters include ParaFi Capital, Nascent, IDEO CoLab Ventures, and Aave founder Stani Kulechov. The funds will be used to establish a “cryptocurrency Zapier”.

Gelato enables everyone to leverage the power of a decentralized network of bots to fully automate the movement of their money between different protocols on Ethereum.

Through the development of Web 3.0 automation, they can automatically rebalance their investment portfolios and execute transactions to protect their investments from major losses.

Mika Honkasalo from ParaFi Capital expressed that:

“Gelato expands the capabilities of smart contracts, which are by default inactive and only execute when a user triggers them. Gelato’s network of bots can be used to support a wide variety of applications that require automated actions — from liquidity provision strategies to margin management, and other DeFi use cases.”

Under the operation of a decentralized robot network, Gelato network provides dApp developers with a user-friendly UX to expand and simplify users’ transactions in the DeFi field.

Gelato co-founder Hilmar Orth said that the team is building their own DeFi applications, aiming to run smart contracts autonomously while ensuring that the infrastructure executes its logic is censorship-resistant, decentralized, and reliable.

Despite the smart contracts on the Ethereum network run by the main DeFi protocols, it also supports the smart contracts on the two blockchains, Polygon and Fantom. Gelato network is actively cooperating with other blockchains, including Binance Smart Chain, Arbitrum, Optimism, and Avalanche.

The decentralized finance (DeFi) sector took the world by storm in 2020 after its value grew by fourteen times, with total value locked (TVL) in this sector stood at $208 billion.

In the long run, the trend of decentralized financial automation is expected to be trending to improve user experience in the future.

Image source: Shutterstock
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Source: https://Blockchain.News/news/the-defi-smart-contract-automation-network-gelato-raised-11m-its-series-a-funding

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Energy

Eight Roads launches its fourth fund: $450M aimed at European/Israeli scale-ups

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European VC Eight Roads is launching its fourth fund of $450 million for European and Israeli tech companies , aiming for another 15-20 across a broad range of consumer, software-as-a-service, fintech and healthtech areas. Cheque sizes wil range from around $5 million to $50 million per company, and as such, it tends to play more in growth funding rounds. 10-year old Eight Roads is backed by Fidelity, and was formerly known as Fidelity Growth Partners and before that Fidelity Ventures.

Eight Roads has previously invested in companies such as AppsFlyer, Cazoo, Fireblocks, Hibob, Made.com, Spendesk, Red Points, and Neo4j, and now manages over $8 billion of capital across Europe, Asia and the US. 

To give you an idea of how the fund has grown, the first Eight Roads fund was 1st was £100m, the second £150m, the first $375m, and the latest is $450m.

Davor Hebel, Managing Partner and Head of Eight Roads Ventures Europe said: “It’s great to be launching our latest fund at a time when there is so much entrepreneurial energy and ambition in both Europe and Israel and we’re now firmly on a path to building global technology champions out of the region. This additional capital enables us to continue helping ambitious founders scale, win and have a lasting impact on the way we live.”  

I asked the firm whether it will also have a climate focus, given the scale of the problems facing the planet. A spokeperson said the focus on climate cuts across all of its sectors but as an investment theme Eight Roads looks at three main focus areas: 

  • Clean energy – so it has an investment in a Nordic company Tibber which helps people run their homes more sustainably.
  • Sustainable products – Eight Roads has invested in Otrium (fashion marketplace aiming to get every item to be worn), Smol (environmentally friendly house products), La Fourche (organic and sustainable produce), VIU (eyewear brand), and Made.com (online furniture brand)
  • Climate change tools and enablers – e.g. carbon footprint measurement and reduction

During an interview, Hebel told me a major investment theme last year and this had been the shift to remote working, HR systems to support that, and: “Every company needs FinTech now.”

The fourth biggest category for Eight Roads is digital health, also supercharged by the pandemic. 

Enabling technologies, like AI, are also being applied: “I wouldn’t call it a sector, but the machine learning aspect. Like Glovo, which is a company that does internal talent marketplaces for large companies, where you can match people’s talents with opportunities in other parts of the organization.”

I asked Hebel if his company was returning to the office. He said: “I think we’re still feeling our way, you know. I think we said we’ll be two days a week, and then see how it goes. It’s good to see people again.”

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Source: https://techcrunch.com/2021/10/04/eight-roads-launches-its-fourth-fund-450m-aimed-at-european-israeli-scale-ups/

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Finance

IoT News: IoT’s $1B IPO: Live From NYSE | KORE’s CEO Romil Bahl

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IoT News and Interviews - KORE IPO with CEO Romil Bahl

Today I have the pleasure of virtually sitting down with the CEO of KORE Romil Bahl, to discuss becoming the first global internet of things pure-play company to go public in a deal worth one billion dollars.

With so many IoT companies out in the world, it may come as news to many of you that not more companies have gone public, but believe it or not KORE is the first. This was made possible through Cerberus, to which KORE is their first special purpose acquisition company (SPAC) that they have brought public.

According to Romil, a big contributor to their success and fit to go public is their highly predictable and recurring revenue (over 91%). Now I know not all of you may be “numbers people” but take it from someone with a financial degree — anytime you can build a company with recurring revenue over 91%, low working capital resulting in strong free cash flow generation, and are able to have visibility into an average of 90% of forecasted revenue over a 3 year runway, the decision to go public will be one you can’t easily ignore.

Now, before I jump you into the full conversation (below), let me catch you up on who KORE is. KORE is an 18 year veteran of the IoT industry, with over 3,600 customers spanning a variety of industries. They use AI, APIs, and securely connect devices (i.e. mobile gateways, environmental sensors, heart monitors, etc.) to 5G networks, the internet, satellite networks, etc. to help those businesses bring scalable IoT solutions to life all over the world. 

If you enjoyed our conversation, please check out a longer conversation Romil and I had earlier this summer on our podcast where we speak a bit more high-level about the benefits IPOs can have for IoT Companies.

Author
Ryan Chacon
Ryan Chacon – Head of Business Development, IoT For All

Ryan is IoT For All’s Head of Business Development. Prior to helping create IoT For All, Ryan has served as a founder, early stage employee, and start-up advisor — helping to build, market, raise funding for and launch technology related products…

Ryan is IoT For All’s Head of Business Development. Prior to helping create IoT For All, Ryan has served as a founder, early stage employee, and start-up advisor — helping to build, market, raise funding for and launch technology related products…


Contributors
IoT For All
IoT For All

IoT For All is creating resources to enable companies of all sizes to leverage IoT. From technical deep-dives, to IoT ecosystem overviews, to evergreen resources, IoT For All is the best place to keep up with what’s going on in IoT.

IoT For All is creating resources to enable companies of all sizes to leverage IoT. From technical deep-dives, to IoT ecosystem overviews, to evergreen resources, IoT For All is the best place to keep up with what’s going on in IoT.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
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Source: https://www.iotforall.com/iot-news-ipo-kore-going-public-interview

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AI

Before Starting Day Trading, Here’s What You Should Know

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Are you bored at home or simply looking for more control over your working life? Home trading has become more popular than ever with the rise of digital broker platforms and the ease of access to market data from anywhere. The question now is whether it’s right for you. There are a few things you should consider before launching into day trading. First, you’ll need the right equipment. 

You can view more details about the type of computer that works well for trading with a 6 monitor setup. They provide the right power and efficiency you need to stay on top of the numbers. So, why not send in your name, email address to see for yourself?

Day Trading with a 6 Monitor Setup 

It’s easy to get blinded by the promise of profits but day trading takes a certain type of person along with the commitment and capital to support you. Regardless of how amazing your multiple monitor setup is, it’s worth noting the following pre-requisites if you want to be successful in the long run: 

  • Various intraday strategies
  • Risk management 
  • Knowledge and experience 

Various intraday strategies

Some of the most common approaches traders work on with their 6 monitor setup are scalping, range trading, news-based trading, and high-frequency trading. You can use these strategies for any type of security you want to buy and sell although most day traders focus on stocks. 

The point of day trading is to buy and sell within a short time frame, usually a day. Either way, you’ll need to work out the right strategy for you and your awesome 6 monitors. That also means getting the right multiple monitor equipment so you can view the display easily but more on that later.

Risk management 

Day traders often run highly leveraged trades or borrow so they can buy more assets. The idea is that they’ll get a return quickly within the day. Of course, this also means they have the potential for huge losses. We’re clearly talking a lot more than your potential budget for a 6 monitor setup. 

When speculating across such short time frames where stocks can move quickly, it’s easy to miss the mark and loss everything. Then again, you can implement a solid risk management strategy and only use risk capital that you are comfortable losing. 

Knowledge and experience 

It almost goes without saying that successful day traders do their homework. They are constantly learning and reviewing their trading journal when working on their one, two, or 6 monitor setup. Moreover, they have the discipline to consistently follow their strategy.

It’s also important that they don’t get overwhelmed by emotions so as to avoid making rash decisions. In fact, they do their due diligence thoroughly and err on the side of caution when in doubt. That keeps them in the game for the long run. 

The Right Equipment to Trade with your 6 Monitor Setup 

Let’s not forget that day trading can be a very profitable profession. Assuming you have the right strategy then let’s look into the perfect equipment to get started: 

  • Computer and software
  • Resolution and video card 
  • Ports and cables 

Computer and software

The first good news is that you can opt for a laptop or desktop. These days, even laptops have the power to support a 6 monitor setup along with the efficiency to provide fast refresh rates. Simply make sure you have RAM of at least 16GB or 32GB and a good processor, usually Intel or AMD. 

When it comes to Mac versus Windows 10, you can also choose either. Having said that, most trading platforms are designed with Windows 10 in mind so you’ll have slightly more choice. Then again, Mac software is usually more reliable than Windows 10 and it’s easier to set up. 

Resolution and video card 

Day traders need to view numbers and charts quickly and effectively. That’s why you need monitors with a good resolution. Most professionals advise a 24-inch screen for your multi-monitor setups with at least 1080pixels resolution. 

Another critical component is your integrated graphics card. This piece of hardware enables your images and graphs to update quickly and sharply. The best graphics cards on the market come from NVIDIA and Radeon with at least 4GB or 6GB of graphics processing (GPU) power but can go up to 8GB or even 10GB. Although, those higher specifications are usually aimed at gamers. 

Ports and cables 

If you have a laptop, you’ll be aware of your power supply unit and how quickly you’ll lose power. Clearly, a desktop stays connected all the time but doesn’t have the flexibility that laptops provide. Either way, when connecting your multi-monitor setup, check your ports to get the right cables. The most common ones are HDMI, VGA, DVI, DisplayPort, and USB.

day trading for additional income

Final Thoughts on Launching into Day Trading with a 6 Monitor Setup 

If you love the thrill of the markets and can stay calm when things go wrong then day trading could be for you. Then, make sure you do your research and learn everything you can about the markets. Alongside that, get your budget ready for your two, three, or 6 monitor setup to suit your workflow. Remember you’re in it for the long run so it’s worth investing in the perfect equipment. You’ll then be all set to become a successful day trader.

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Source: https://1reddrop.com/2021/09/30/before-starting-day-trading-heres-what-you-should-know/?utm_source=rss&utm_medium=rss&utm_campaign=before-starting-day-trading-heres-what-you-should-know

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