Rebel Foods Valuation: India's FoodTech Giant Raises $175M
Daily Crunch: October 7, 2021
A daily digest of TechCrunch’s most significant and impactful stories is delivered to inboxes each day at 3 p.m. PDT. You can subscribe to this roundup here.
Greetings, and welcome to the Daily Crunch for October 7, 2021. While software development is a primary focus at TechCrunch, we consistently maintain awareness of developments beyond the digital realm.
Upcoming Sessions: Space Event
Our forthcoming Sessions: Space event is poised to be an exceptional experience. It promises to be truly groundbreaking, exploring the latest advancements in space technology and exploration.
We anticipate a captivating event that will delve into the future of space travel and innovation. Further details regarding the Sessions: Space event will be released shortly.
– Alex
TechCrunch's Top 3 Developments
Global startups have once again achieved record-breaking funding levels. The latest data from CB Insights reveals that emerging companies worldwide surpassed their previous funding records established in the second quarter of this year.
Consequently, 2021 is shaping up to be an exceptionally strong year for venture capital investment, potentially unmatched in the foreseeable future.
Microsoft Acquires Ally, an OKR Software Company
The OKR (Objectives and Key Results) software market has been consistently competitive, with numerous startups attracting significant investment and demonstrating substantial Annual Recurring Revenue (ARR) growth.
Recently, Microsoft entered this arena by acquiring Ally, a well-funded competitor. This acquisition prompts consideration of the future landscape of the OKR software sector.
Circumventing Apple's App Store Fees
As regulatory bodies worldwide deliberate on the issue of payment restrictions within app marketplaces, developers are proactively creating solutions.
Paddle is developing a new in-app purchasing (IAP) system specifically for iOS developers. This system is intended as a direct substitute for Apple’s existing IAP infrastructure, offering an alternative for developers.
This initiative is viewed positively as it provides developers with greater flexibility and control over their revenue streams.
Startups & Venture Capital Updates
Automated tire changes are becoming a reality. RoboTire is aiming to introduce robotic tire changing services to the automotive industry, having recently secured $7.5 million in a Series A funding round to further develop its technology and expand operations.
Marketplace for Simulated Stock Ownership Shut Down
A platform that allowed users to purchase NFTs representing shares in private companies, Visionrare, has ceased operations shortly after its launch. The marketplace, while generating significant attention, proved unsustainable.
Cruise's Ambitious Self-Driving Car Goals
Cruise, a well-funded autonomous vehicle company, has announced its intention to deploy tens of thousands of self-driving cars by the year 2030. A commitment to this timeline has been made, with a playful stipulation regarding executive transportation should the deadline be missed.
ChronoSphere: Data Observability, Not Gaming
Despite its name evoking the classic video game Chrono Trigger, Chronosphere is a data observability company. The company has successfully raised $200 million in funding, positioning it to compete with established players like Monte Carlo in the data observability space.
Instacart Expands with FoodStorm Acquisition
Instacart, a leading grocery delivery service, has acquired FoodStorm, a SaaS order management system specializing in order-ahead and catering solutions for grocery retailers. Financial details of the acquisition remain undisclosed, as both companies are privately held.
Solo.io Achieves Unicorn Status
Solo.io, a company providing software for connecting microservices, has reached a valuation of over $1 billion. This achievement marks a significant win for the Boston startup ecosystem and demonstrates the growing importance of microservices architecture.
Cord Aims to Integrate Slack-Like Features
Cord is developing an API-based service designed to incorporate communication features similar to those found in Slack into various applications. The company recently secured $17.5 million in funding to support its development efforts.
Klasha Facilitates Cross-Border Payments in Africa
Klasha, a Nigerian-American company, is focused on enabling seamless cross-border payments within the expanding African e-commerce market. The company aims to address the growing demand for convenient payment solutions across the continent.
Ghost Kitchens Gain Traction in India
The trend of ghost kitchens, also known as dark kitchens, is extending beyond the United States and gaining popularity in India. Rebel Foods, a leading player in the Indian ghost kitchen market, has achieved a unicorn valuation, demonstrating the viability of this business model internationally.
Box poised for strategic advancements following shareholder dispute resolution
Recent challenges, encompassing a postponed initial public offering and a contentious proxy battle with a significant investor, are now giving way to positive developments for Box’s co-founder and Chief Executive Officer, Aaron Levie.
According to enterprise journalist Ron Miller, the company is currently at “a crucial juncture” as a cloud content management provider.
Miller conducted an interview with Levie to gain insight into his future strategies, especially considering the company’s latest financial performance.
To provide a comprehensive perspective, Ron also consulted Alan Pelz-Sharpe, the founder and principal analyst at Deep Analysis.
Pelz-Sharpe emphasized that “the coming year is critical for Box.” He stated that the company must demonstrate the validity of its proxy fight victory.
Achieving this necessitates the evolution of the Box platform, consistent and measured growth, and a continued focus on establishing a distinct market position.
(Access to TechCrunch+ is available through our membership program, designed to empower founders and startup teams. Registration can be completed here.)
Big Tech Inc.
The concerns of the wealthiest individuals are currently a topic of discussion, prompting a somewhat ironic appeal for sympathy.
A new directive from the U.S. Department of Justice mandates disclosure of cybersecurity incidents for federal contractors. This means any organization providing goods or services to the U.S. government is now legally obligated to report any hacking or data breaches.
Cybersecurity Disclosure Requirements
Failure to comply with this requirement could result in significant consequences. Contractors must proactively reveal any cyber-related vulnerabilities or compromises.
Twitter has recently invested capital in Facemoji, a move that mirrors a previous acquisition by Snap involving Bitmoji. The earlier purchase was initially met with skepticism, but ultimately proved successful.
Facemoji Investment
The strategic rationale behind Twitter’s investment remains to be seen. However, it suggests a potential belief in the value of digital avatar technology, similar to the Bitmoji example.
Whether this acquisition will yield positive results for Twitter is currently uncertain. It represents a calculated risk in the evolving landscape of digital communication.
TechCrunch Seeks Growth Marketing Professionals
Image Credits: SEAN GLADWELL / Getty ImagesTechCrunch is requesting recommendations for accomplished growth marketers. These professionals should demonstrate proficiency in areas like SEO, social media marketing, and content creation.
Growth marketers are encouraged to share this survey with their clients. We aim to gather insights into the positive experiences clients have had while collaborating with these experts.
Understanding TechCrunch's Coverage
Interested in learning more about how these surveys influence TechCrunch’s reporting? An interview with Adam DuVander, conducted by Anna Heim, explores the reasons why conventional marketing strategies often fall short when targeting software developers.
The interview, titled “Why generic marketing approaches don’t work on software developers,” provides valuable context.
