Thursday, 31 October 2019

Small satellite startup Kepler opens sign-ups for its IoT developer kits

Kepler Communications, the Toronto-based startup that’s focused on developing and deploying shoebox-sized satellites to provide telecommunications services, is opening up registration for those interested in getting their first developer kits. These developer kits, designed to help potential commercial customers take advantage of its Internet of Things (IoT) narrowband connectivity deploying next year, will then be made available to purchase for elect partners next year.

This kind of early access is designed to give companies interested in using the kind of connectivity Kepler intends on providing a head start on testing and integration. Kepler‘s service is designed to provide global coverage using a single network for IoT operators, at low costs relative to the market, for applications including tracking shipping containers, railway networks, livestock and crops and much more. Kepler says that its IoT network, which will be made up of nanosatellites designed specifically for this purpose it plans to launch throughout next year and beyond, is aimed at industries where you don’t need high-bandwidth, as you would for say HD consumer video streaming, but where coverage across large, often remote areas on a consistent basis is key.

IoT connectivity provided by constellations of orbital satellites is an increasing are of focus and investment, as large industries look to modernize their monitoring and tracking operations. Startup Swarm got permission from the FCC to launch its 150-small satellite constellation earlierr this month, for instance, to establish a service to address similar needs.

Kepler, founded in 2015, has raised over $20 million in funding so far, and has launched two small satellites thus far, including one in January and one in November of 2018. The company announced a contract with ISK and GK Launch Services to deploy two more sometime in the middle of next year aboard a Soyuz rocket.



Your Guide to Small Business Saturday 2019

 

Your Guide to Small Business Saturday 2019

Holiday shopping season lurks just around the corner. And small businesses need tons of new ways to bring new customers through the door. One of your best opportunities may fall on Small Business Saturday. The holiday has supported small businesses for nearly a decade. New business owners, make sure you make the most of this holiday. Just enough time remains to plan and benefit from the event.

Small Business Saturday 2019 is coming soon and we’ve got the one guide you need to get ready to roll out the carpet and attract customers.

Small Business Saturday 2019

When Is Small Business Saturday?

This year, Small Business Saturday 2019 falls on November 30. It always takes place on the Saturday after Thanksgiving, so the day after Black Friday and two days before Cyber Monday. It is an all-day event. And many businesses stretch out the entire Black Friday/Small Business Saturday/Cyber Monday festivities to offer a long weekend full of specials and sales to grab customers’ attention.

What Is Small Business Saturday?

Small Business Saturday is an annual holiday meant to call attention to the importance of small businesses in our economy and to encourage support for small companies, especially at the beginning of the holiday shopping season. Many local communities host shopping events and businesses around the country host sales and specials to encourage local shoppers to stop by.

American Express originally trademarked the holiday back in 2010. But it’s since been picked up by many businesses and organizations throughout the country, including the U.S. Small Business Administration and tons of local chambers of commerce and downtown shopping districts.

Who Can Celebrate Small Business Saturday?

Small Business Saturday is for all small businesses. It’s especially relevant for retail businesses since it falls during the holiday shopping season and is well known for the #ShopSmall campaign. However, both online and offline businesses can participate, as well as local restaurants, small service providers and even B2B businesses.

How Can Small Business Saturday Benefit My Business?

The SBA estimates that 108 million consumers supported small businesses last year on Small Business Saturday. So the holiday has certainly gotten people’s attention throughout the country. Since it takes place during the holiday shopping season, small retailers are likely to benefit the most. But with more and more customers going out shopping, they’re also likely to stop by local restaurants, coffee shops and entertainment venues in their communities.

Even local service providers and companies that don’t have much to do with holiday shopping can host sales or take part in local events to get the attention of relevant consumers on a day where their mind is already focused on supporting small businesses.

Once you get new customers through the door as part of a special event like Small Business Saturday, you may be able to convert them into repeat customers. Provide a positive experience and highlight the qualities of your business that set you apart from larger competition. And those customers who may not have even been aware of your company a week before could turn into lifetime visitors.

Ideas for Promoting Your Business

One of the best ways you can call attention to your business on Small Business Saturday is by taking part in various events in your community. Check with your local chamber of commerce or business organization to see if there are any shopping events or specials that you can participate in. They might even create a map or directory of local shops to help customers find new small businesses to support in the area.

You can also promote your small business online. Offer special deals to those who follow you on social media or sign up for your email list to reward those who support your small business throughout the rest of the year. You might even partner with other businesses in your area or niche and host a joint contest or giveaway so you can reach new potential consumers online.

Finally, since Small Business Saturday falls during the busiest shopping season of the year, deals or added value on purchases can go a long way. Call attention to your deals by posting online, taking out local ads or simply putting up signage.

It makes no difference what methods you use to bring people through the door. You must provide them with a positive experience. It keeps them coming back. Small businesses usually don’t realistically keep up with larger competitors strictly on price. So try to add value in other ways. Consider offering a free gift for those who spend a certain amount. Offer gift wrapping. Partner with a local restaurant. Give each customer a coupon so they can enjoy lunch or dinner after a full day of shopping.

Resources for Small Businesses

Do you want to make the most of Small Business Saturday? Maybe you don’t know where to start. Browse through the resources available to help.

American Express provides maps and directories to help consumers find small businesses to support. Sign up for an account. Learn more about getting your business listed. The company also offers the “Shop Small Studio.” You can help create custom posters and signage to support your store or local business.

Image: Americanexpress.com

This article, "Your Guide to Small Business Saturday 2019" was first published on Small Business Trends



Crunchbase raises $30M more to double down on its ambition to be a ‘LinkedIn for company data’

The internet and search engines like Google have made the world our oyster when it comes to sourcing information, but in the world of business, there remains a persistent need for more targeted market intelligence, a way to get reliable data quickly to get on with your work. Today, one of the startups hoping to build a lucrative operation of its own around that premise is announcing a round of funding to get there.

Crunchbase — a directory and database of company-related information that originally got its start as a part of TechCrunch before being spun off into a separate business several years ago — has raised $30 million, a Series C that it plans to use to continue expanding its base of paid subscribers and expanding its product to include more predictive, personalised information for its users by way more machine learning and other AI-based technology.

CEO Jager McConnell, who has long viewed Crunchbase as the “LinkedIn for company profiles,” said that of the 55 million people who visit the site each year currently, the company currently has “tens of thousands” of subscribers — subscriptions are priced at $29/user/month varying by size of company contract — which works out to less than 1% of its active users. That’s “growing quickly,” he added, speaking to site’s potential.

Indeed, he noted that since its last round in 2017, when it raised $18 million, Crunchbase has tripled its employees to 120 and has ten times more annual revenue run rate. It’s also more doubled its traffic since being spun out.

This latest round was led by Omers Ventures, the prolific investment arm of the giant Canadian pension fund of the same name (which is, incidentally, also now opening an office in Silicon Valley to get even more active with startups there).

Existing backers Emergence, Mayfield, Cowboy Ventures, and Verizon (which still owns TC) also participated. McConnell said Crunchbase is not disclosing its valuation with this round, but he did note that it was “well within the target range” that the startup had set, that it was an oversubscribed upround, and that it was on the more practical than exuberant side.

“I believe we are seeing too many high valuations with low annual revenue rates, and it’s catching up with people, and we were very focused on not hitting that valuation trap in order to be successful in the future,” he said. “This is a good round but not something insane.” Strong logic I suspect could be supported by Crunchbase data. For some context, Crunchbase had a post-money valuation of $70 million in its previous round in 2017 (having raised $26 million), according to PitchBook — ironically, one of Crunchbase’s big competitors (CB Insights, Owler being others.)

With its start as a side project of TechCrunch, the DNA of Crunchbase has always been in tech companies, and that is still very much the heart of the data that is in the system today. The kind of data you can get via the site includes basics on when a company was founded, who the founders are, who the current executive leadership is, how much money it has raised and from whom, what has been written about it in the media. You can also find original content on the site by way of its own team of writers covering funding rounds and other Crunchbase-relevant content.

Then, via a number of third-party integrations with companies like Siftery and SimilarWeb, you can also get deeper data around competitors and more (most of which you can only see if you are a paying, not free, user).

personalized homepage

The company notes that it currently makes 3.9 billion annual updates to its data set — which people upload themselves in the old wiki style, or are manually or automatically uploaded, by way of some 4,000 data partnerships and syndication deals (these include with the likes of Yahoo! Finance, LinkedIn, Business Insider, and Amazon Alexa, which in turn make some 1.6 billion annual calls to the Crunchbase API).

The growth of that information trove, and more interesting ways of parsing it to drive subscriptions and potential licensing revenues, will be of paramount importance to the company’s bottom line. Today there is some advertising on the site, but McConnell confirmed to me that Crunchbase is in the process of winding down advertising on the platform.

“The impact on the business was not material enough to sacrifice the user experience to have ads,” he said.

On the subject of the self-styled LinkedIn comparison, you’ve probably already noticed that LinkedIn does have company profile pages, but McConnell’s argument is that the site was built with individuals’ profiles and recruitment in mind. That makes the company pages more of an add-on and not something that can be effectively developed at this point in the way that Crunchbase has done.

“Once you do that, it’s hard to change,” he said of the direction that LinkedIn has grown. “Its company profiles are more brand representations, not a source of truth about the companies themselves.”

What’s interesting to me is to see which direction Crunchbase will evolve in in the longer term. As the world has continued to grow into the bigger vision of “every company is a tech company, and every problem has a tech solution” it seems that Crunchbase’s own ambitions have also grown.

In the company’s blog post and press release announcing the fundraise, it’s notable to me that the word technology, or any variation of it, isn’t mentioned even once in the text (only exception being the boilerplate description of Omers).

That could point to how — as Crunchbase expands its horizons in terms of the kinds of information on businesses it can provide to users — it might see role for itself not unlike that of LinkedIn, spanning across multiple verticals and the communities of people (or in CB’s case, businesses) that have built around them.

“We are thrilled to partner with Jager and the talented leadership team at Crunchbase,” commented Michael Yang, Managing Partner at OMERS Ventures, in a statement. “Crunchbase continues to show significant traction as the leader in research, information, and prospecting for private companies – an incredibly large and valuable market to address and service. By utilizing and collecting aggregated data, adding tools and apps, and continuing to customize each user experience, the lead generation and deal value Crunchbase can provide is unprecedented, and we are proud to support this next phase of growth.”

 

 



Bosun Tijani talks strategy as CEO of Africa’s new largest tech hub

With CcHub‘s acquisition of iHub in September, Nigerian Bosun Tijani is at the helm of (arguably) the largest tech network in Africa.

He is now CEO of both organizations, including their robust membership rosters, startup incubation programs, global partnerships and VC activities from Nigeria to Kenya.

One could conclude Tijani has become one of the most powerful figures in African tech with the CcHub/iHub merger. But that would be a little shortsighted.

The techie from Lagos still faces plenty of challenges and unknowns in integrating two innovation hubs that lie 3,818 flight kilometers apart. Several sources speaking on background over the last year have indicated iHub was experiencing financial difficulties.

Tijani offered TechCrunch some initial details last month on how the acquisition will fall together.

But more recently he shared greater detail on his strategy for operating the multi-country innovation network. A big test for Tijani will be aligning the organizations on a path to sustainability. The buzzword is usually code for generating consistent operating income beyond expenses.

The growth of innovation spaces, accelerators and incubators in Africa — which tally 618 per GSMA stats — is often lauded as an achievement for the continent’s tech ecosystem.

But debate on how these focal points for startup formation, training and IT activity fund themselves is ever-present.

Grant income has served as a dominant revenue source for Africa’s tech hubs — including iHub in its early days — though many have worked to diversify.

TechHubsinAfricain2019 Briter Bridges

That includes CcHub, according to Tijani, who plans to continue the trend across the expanded CcHub/iHub organization.

“When people talk about sustainability, we’ve been in business for nine years,” he notes of CcHub Nigeria.

“We de-emphasized grant funding six years ago; most of our revenue is actually earned revenue.”

On income sources Tijani looks to foster across both organizations, he named consulting services (for corporates, governments and development agencies), events services and generating greater return on investment.

iHub has been active with startup seed investments and CcHub has a portfolio of companies through its Growth Capital Fund.

“Our size will become a major part of us being able to invest in startups, and the longer we stay invested the more we will start to see significant returns and exits,” said Tijani.

CcHub CEO Bosun Tijani

The CcHub/iHub nexus will also use its size to leverage more partnerships. Tijani and team have already mastered gaining collaborations with big African and global tech names, such as MainOne and Facebook.

Tijani will look to connect iHub to CcHub’s Google-sponsored Pitch Drive — which has done African startup tours of Asia and Europe — and potentially take the show to the U.S.

“We’re talking about it,” Tijani said, of a U.S. pitch trip. And this could lead to a permanent presence in San Francisco for the new CcHub/iHub entity.

“Beyond just a tour, we want to build strong presence in the Bay Area,” Tijani said, but didn’t offer more specifics on what that could mean.

So on the list of things to emerge from the CcHub-iHub acquisition, African tech planting a big flag in San Francisco is a future possibility.

A more immediate result of the union between the innovation spaces will be Bosun Tijani becoming a regular sight on flights between Lagos and Nairobi.



Learn how to scale your startup globally at Disrupt Berlin

The rise of the internet has given every company the chance to be a global company. But as a founder, growing from your garage to the worldwide markets can be tricky business.

That’s why we’ve assembled a panel of top-tier experts to talk through the peaks and pitfalls of scaling strategies at Disrupt Berlin in December.

I’m very pleased to announce that Holger Seim, founder and CEO of audio startup Blinkist, Karoli Hindriks, founder and CEO of Jobbatical, and prominent Silicon Valley immigration attorney Sophie Alcorn will be joining us at the show, which runs December 11 and December 12.

Holger Seim founded Blinkist in 2012. The learning service condenses the information and knowledge found in nonfiction books and repackages that info into small text or audio packets. The company charges $12.99/month for a subscription, with a steep discount for those who pay annually. Today, Blinkist has customers in more than 150 countries. Seim brings experience from his time at Deutsche Telekom, where he focused on digital growth and partnership initiatives.

Karoli Hindriks, CEO and founder of Jobbatical, brings a wealth of experience on the topic of scaling, not only from growing her own startup’s footprint, but by the very nature of the company itself. Jobbatical offers reliable relocation for folks joining high-growth tech companies, handling the nitty gritty of immigration on behalf of employers, including visa documentation and residence permits. Hindriks, a native of Estonia, also led the launch of seven television channels in Northern Europe, including National Geographic channels and MTV. In short, Hindriks knows how to cross borders, from tech talent to products.

Last, but certainly not least, we’ll have Sophie Alcorn, founding partner of Alcorn Immigration Law, to round out the panel. The firm was one of the fastest-growing immigration law firms in Silicon Valley. Alcorn can help founders understand the complexities of immigration and how they can leverage different immigration options to secure key talent. Alcorn can also inform investors of the things to look out for when ensuring founders can legally build companies in the U.S.

Join us in Berlin at TechCrunch Disrupt to hear more from our experts on how to scale your company globally. Tickets are available right here.



Google Makes Major Commitment to Small Businesses in Underserved Communities

Google Makes Major Commitment to Small Businesses in Underserved Communities

Google (NASDAQ: GOOGL) is pledging $10 million to help small businesses in underserved communities. The first part of the initiative involves $2 million to the American Library Association (ALA) to bolster entrepreneur centers in 10 states.

Small Business Trends spoke with Kim Spalding, Global Product Director of Small Business Ads at Google to find out more.

Google Is Helping Small Businesses

“When I talk to small business owners about what they need from Google and digital marketing, I hear the same thing,” she said. “They never have enough time for everything they need to do.”

Part of what sparked this new SMB push was Google releasing new search trends. Numbers from the data showed a three-year high in “mom and pop” ( small business) searches. As well searches using terms like “local and near me” were up 350 times over a decade ago.

Record High

The data even showed a record high last year for terms like “local shops.”

The ongoing rise in mobile shopping is another factor as more and more consumers use these devices to shop. Still Spalding points to a break in what could otherwise be a successful digital chain for SMB’s.

“Only 51% of small businesses in the US have a website. This is really a missed opportunity for them to establish a digital presence.”

Web Presence

She went on to say that even the entrepreneurs that know they need a web presence don’t always know how to get started. Google has several tools to help like Search, Google Ads and Grow with Google.

The new initiative is another arrow in that quiver. It will focus on low income and underrepresented entrepreneurs. Libraries will reach out to community organizations, test new tools to support local entrepreneurs and track how they work.

Spalding explained the link between libraries and this kind of help.

“Ninety six percent of the US population is served by libraries,” she says. “That means we get a really broad reach. What’s more, a large percentage of those libraries already have a small business center.”

Job Seekers

Here’s some information on the resources they provide for job seekers.

“ All of this makes libraries an excellent way to reach small businesses across the US and to specifically focus on low income and minority groups.”

The idea is to provide support to these small business centers with resources, information and coaching. For example, getting access to capital can be very challenging for low income entrepreneurs. The new initiative will help with that and also be helpful in sorting through all the current business trends.

Local Target Market

The Google commitment is at least partially designed to allow these entrepreneurs to connect with their local target market by leveraging the digital world. In a real way it’s all about using the Internet to help folks close to home.

Spalding offers up some numbers on how that works.

“What I find really inspiring is for every dollar you and I spend at a local business, 67 cents stays in the community,” she says.

This new push is an innovative way of helping local small businesses and especially those in low income communities. This commitment isn’t the first time Google has put some wind behind small business sales recently.

In June, Google for Small Business  went live. It’s a website that offers help for small businesses getting started.

There’s no word yet on how the rest of the $10 million will be spent.

Image: Depositphotos.com

This article, "Google Makes Major Commitment to Small Businesses in Underserved Communities" was first published on Small Business Trends



How to Start and Grow a Daycare Business

Starting a Daycare Business You Can Grow

Daycare businesses brought in more than $57 million in revenue last year. Though many of these providers are small businesses, it’s still possible to start a daycare business that is able to grow and scale through the years.

Daycare businesses are always in demand. Here are some steps and tips to follow while starting a daycare business of your own.

Starting a Daycare Business

Obtain the Necessary Licenses

Any business in the child care industry is going to need to meet heavy regulations. These vary by state and local community, so it’s important to familiarize yourself with the necessary permits and requirements before getting started. This site includes a resource that can point you toward the relevant rules for your location, so you can learn how to start a daycare business in your specific area. These might include things like having a building with a specific square footage for every child, employee training and location inspections.

Create a Business Plan

Your daycare business plan should include an overview of the child care industry in your area, your company’s mission statement, financial projections and marketing plans. Find a template online to get started and make adjustments as you determine the details of your new daycare business.

Find a Niche & Selling Point

Some daycare businesses offer general care to a wide array of kids. Others focus on a specific target market, like preschool aged kids or those interested in topics like STEM. Even if you want to work with a variety of families, it’s important to determine some of the aspects that will set your center apart from others.

According to Caroline Jens, a childcare consultant and owner of Child Care Biz Help, your business should have a few key pillars that communicate your brand values. Develop these fully and then communicate them with your team so they can bring those pillars into every interaction they have with the families at your center.

Find a Suitable Location

With a daycare center, finding the right location is less about being in a central hub and more about ensuring the building meets local standards and provides enough space and safety features to accommodate your kids and team members. Of course, it’s still nice to be in a convenient location. But make sure that the space you choose is large enough for your projected enrollment and has the features you need, like a kitchen if you plan on preparing meals or multiple rooms if you want to offer services for multiple age groups.

Invest in the Right Equipment

Daycare centers often need cribs, toys, furniture and play equipment in order to provide a quality experience. Your exact purchases may vary based on your niche and target audience. But it’s always important to take safety into account and make sure items are approved for the exact age group you serve. In addition, make sure you invest in first aid kits, smoke and carbon monoxide detectors and safety training gear for your team.

Build a Team

If you want your business to actually grow and become sustainable, you need a team at your side. Come up with a list of qualities that you need for every new hire and stick to them, rather than attempting to save money by hiring inexperienced people. According to Jens, some of the qualities to look for in a team member include flexibility, the ability to influence and impact others and a true love for working in child care.

Focus on Safety Training

All of your employees should be trained in CPR, first aid, and any other certifications that are mandated by your state. You also need to make this training part of your onboarding process so you can ensure that any new employees you hire are also compliant.

Fine Tune Tuition and Enrollment Numbers

Your earnings in a daycare business come from how many kids you have enrolled at a time. It’s important to have a goal, as well as minimum and maximum numbers for each time slot throughout the day. That information, along with your financial projections from your business plan, should help you set specific tuition rates.

Market Locally

Once you have the basics set up, it’s time to bring in actual customers to your daycare center. To do this, you’ll need a marketing plan. You can advertise or put up signs or daycare business cards around town. You can focus on optimizing your small business website and online profiles for SEO. Or you can even partner with other local businesses that offer services to families to generate referrals.

Create a Growth Plan

It may also be beneficial to come up with a plan for scaling your business right from the beginning. Do you want to start a franchise program? Look into licensing? Open multiple locations with new operators? There are plenty of different methods to consider. So consider each one carefully and make adjustments based on what you know the requirements may be. For instance, if you want to simply grow your initial location, it’s important to choose a spot with room for additions. If you want to franchise, it’s important to track all of your processes so you can create guides for franchisees later on.

Image: Depositphotos.com

This article, "How to Start and Grow a Daycare Business" was first published on Small Business Trends



Trulia founder Pete Flint backs real estate startup Modus

The founders of Seattle-based Modus cold emailed Pete Flint, the founder of Trulia and a current managing partner at the venture capital firm NFX, for months to no avail. In a last ditch effort, Alex Day, Jai Sim and Abbas Guvenilir sent one more message to the investor who’s real estate listings tool sold to Zillow in 2014 for $3.5 billion. They were at a coffee shop below his San Francisco office, was he interested in meeting?

Fortunately for them, he was.

Modus

Modus co-founders

Modus, a real estate startup focused on title and escrow services, is today announcing a $12.5 million Series A financing co-led by NFX’s Flint and Niki Pezeshki of Felicis Ventures. Liquid 2 ventures and existing backers including Mucker Capital, Hustle Fund, 500 Startups, Rambleside and Cascadia Ventures also participated in the round.

“The first revolution in online real estate was transforming the research experience, the next revolution in the industry is transforming the transaction,” Flint said in a statement.

Modus launched in 2018 with a focus on Washington State real estate opportunities. The startup, led by former employees of a nearly-defunct lunch delivery company Peach, has developed software to help both agents and home buyers navigate the home closing process, which, unlike many other real estate experiences, has yet to receive a boost of innovation from startups building in the sector. That’s why Modus started with an emphasis on escrow services, though the team’s long term vision, they explain, is to power all real estate transactions.

“When you think about communication, you think of Gmail; when you think of traveling, you think of Uber. We want to be synonymous with home closing,” Sim, the company’s executive chairman, tells TechCrunch.

Sim, the former head of marketing at Peach, says Modus has ambitions of becoming a sort of operating system for real estate, or “like what Stripe is for payment processing, we want to become for real estate transactions.”

Since closing its Series A financing in May–the team waited until now to make its financing information public–Modus has increased its headcount to 50 employees across product, engineering and operations. Their goal now is to provide their software to home-buyers in 15 to 20 states over the next two years. To support expansion efforts, Modus plans to raise a Series B in the second or third quarter of next year.

Modus has previously raised $1.8 million in seed funding.



Lavu Partners with Omnivore to Streamline Small Restaurant Tech

Lavu and Omnivore Partnership to Help Restaurants Streamline Their Tech

Point-of-sale (POS) systems now do more than just take payment. They are part of a completely integrated system that allows businesses to bring the front and back end of their operation together.

The partnership between Lavu and Omnivore is expanding on this integration by giving restaurant operators more tools. With this partnership, operators will be able to bring their Lavu POS system for the frontend. And Omnivore will provide its ecosystem of back of house, front of house and outside of house third-party solutions.

Restaurants and Technology

Technology is playing an important role in the restaurant industry and it is becoming crucial to their success. For small businesses, this technology is allowing them to compete with their much larger national operators.

According to the National Restaurant Association (NRA), technology is responsible for increasing sales for four out of five restaurateurs. However, not all restaurants are optimizing the technology to take advantage of what it can offer. And as the expectation of consumers continues to grow in regards to technology integration, the systems have to be put in place.

The CEO of Lavu, Saleem S. Khatri, addresses this very point in the press release. He goes on to say, “We want to provide restaurant operators access to all the technology they need in one place.”

For his part, the CEO of Omnivore Mike Wior, addresses the consumer side. Adding, “Consumers today are expecting technology to be incorporated into their experience. Our collaboration with Lavu helps their customers easily navigate the rapidly advancing technology landscape needed to meet those expectations.”

The Lavu and Omnivore Partnership

Lavu is a global mobile point-of-sale and payment processing system for restaurants and bars. It is currently used in more than 90 countries. The platform provides a flexible payment-processing solution along with a propriety business management suite.

Omnivore offers an end-to-end solution to empower restaurants with guest and operational experiences. This includes everything from online ordering to pay at table, third-party delivery, kiosk/digital menu, reservations, loyalty, inventory, labor and analytics.

The integration is going to give restaurants better operational efficiency and the ability to leverage their data for future agility.

By connecting to more than 200 applications, Omnivore enables restaurant operators to be part of third-party solutions. This includes delivery, analytics, digital menus, guest engagement, online ordering and more.

The goal of this partnership is to deliver on the expectations of today’s consumers when it comes to dining out. Customers now expect a fully integrated system for orders, payment, delivery, marketing, reviews and more. Without these options in place, restaurateurs can not attract new customers nor keep their existing ones.

The Need for Technology in the Restaurant Industry

According to the same report from the National Restaurant Association, the adoption of technology in the industry is growing. However, it is not yet the norm across the board. Those businesses that have invested in technology are doing much better than their counterparts.

In the report, the NRA reveals 81% of restaurants use a POS or electronic register system. However, only 37% of them offer online ordering and another 32% accept mobile payment.

At the same time, only 12% of operators consider their operations to be leading-edge. And surprisingly 32% admit their operations is lagging when it comes to technology use.

Using Obsolete Technology

Another problem the industry faces is the use of obsolete technology. Many small restaurants are still using cash registers. While this may be quaint, it is greatly limiting the opportunities an integrated POS system offers.

With more people using their smartphones to find a restaurant as well as order and pay for their food, restaurants need to do more in adopting the latest technology.

Image: Depositphotos.com

This article, "Lavu Partners with Omnivore to Streamline Small Restaurant Tech" was first published on Small Business Trends



Want Mindfulness Options for your Employees? Try These 10 Tips

10 Mindfulness Tips You Can Start Practicing at Work

 

In the past, going to work meant slaving away for hours at a time without taking a moment for yourself.

And, more often than not, it felt like you were trading meaningful life moments for tedious work tasks.

Today, however, employees and companies are improving working conditions through one health trend: mindfulness.

The word “mindfulness” has been thrown around a lot recently by fitness gurus and celebrities, but many are still confused as to what it really is.

So what is mindfulness, anyway?

Looking at a definition by the University of California, Berkeley, mindfulness is the ability to maintain a moment-by-moment awareness of our thoughts, feelings, bodily sensations, and surrounding environment, through a gentle, nurturing lens.

By using techniques to practice mindfulness, especially at work, you can reduce stress, boost your immune system, and improve your productivity.

10 Mindfulness techniques

So, in order to help you reach your full unicorn potential, here are 10 mindfulness techniques to practice at work!

1. Set an intention at the beginning of every day.

In order to set yourself up to have a successful day, you should write down an intention to keep you focused.

Your intention could be a work goal or something more personal, such as “I will look at every obstacle today as a positive learning experience.”

You can either write the intention down on a Post-It note and stick it on your computer, or you can repeat it to yourself while at work.

By doing this, you get to keep a mental mantra to help you get through the day. This mindfulness technique also prompts you to check in with yourself and consider behaviors that you can change to become more in-tune with yourself.

2. Make your work meaningful.

It can be hard to be mindful during work if you don’t enjoy your job.

That’s why you need to find purpose in what you do.

Take a moment to reflect: why did you decide to apply for the job?

What moments during the day bring you joy?

Grab a piece of paper and write a list of things that make your work meaningful.

This way, when you’re having a hard day, you can look back at the list and remind yourself what you get up for every day.

3. Learn how to be present.

No matter what type of environment you work in, it’s easy to simply go through the motions of a job without thinking.

When you find yourself daydreaming or drifting away from your work, take a break to check in with your surroundings.

There are a few questions that you can use to ground yourself and become present in the moment. What is one task that you can work on? What’s going on around you; who’s there, what are they up to, what noises do you hear? What have you accomplished so far today?

Taking the time to observe yourself and your work will recenter you, boosting concentration and giving you a second wind to finish the day strong.

4. Take a meditation break.

Stressed out? Meditate it out.

Although mindfulness is typically about being attuned to your thoughts, sometimes you need to clear your mind to focus on what’s important.

Take a ten-minute break during the day to go sit outside and listen to a quick podcast or meditation app to reset your mind.

Once you return to work, you will feel refreshed and ready to get back on task.

5. Focus on one task at a time.

Have you ever tried to do three things at once? When you do, are any of the tasks done well?

Probably not.

It’s important to focus on one thing at a time when practicing mindfulness.

When you try to do too much work at once, you become overwhelmed and arent able to complete any of the assignments to the best of your ability.

Start by making a list of tasks to complete, ordering them by importance.

Then, once you’re leaving work to head home, you will be able to look back at the day feeling fulfilled.

6. Practice having a growth mindset.

Every successful unicorn has one thing in common: they all have a growth mindset.

Instead of saying that you cannot change, work to improve your skills and life.

Of course, this is easier said than done.

In order to practice a growth mindset, try setting small goals for yourself.

It’s also important, though challenging, to find and acknowledge your weaknesses; this gives you the vantage point to shut down that self-critical voice that can sometimes hold you back.

Enforcing a growth mindset will help you be more mindful of your everyday behavior while improving your self-esteem both in and outside of work.

7. Embrace your feelings.

Sometimes people mistake mindfulness with a constant feeling and expression of peace and happiness.

But let’s be real: can anyone be happy all the time?

Having emotions, even negative emotions, is a normal and common part of life. Most days, people go through multiple different emotions. That’s why, when you’re practicing mindfulness, it is important to learn how to embrace your feelings

It’s difficult, but acknowledging your emotions – simply sitting with them and telling yourself “I am feeling angry right now” – is the first step to letting the feeling pass.

If you try to ignore your emotions or push them away, they will continue to bother you, affecting your productivity and, more importantly, hurting your well being.

This mindfulness technique is useful for stressful days at work. Embrace your stress and then continue practicing other mindfulness techniques, like meditation, to release the emotion and get back on track.

8. Take lunch to eat lunch.

Many people will take a break to grab a quick bite — but then sit down to eat it while they continue working.

Before they know it, that 30-minute break is over and they haven’t finished their meal or work.

Just take your lunch break to eat lunch.

Don’t look at your phone, don’t think about work, and don’t read any emails!

Using your lunch break to relax and eat lunch helps recharge you and gives you an energy boost. Checking out for a moment will only help improve your focus once you’re back at work.

9. Stretch.

Mindfulness isn’t just about being in tune with your thoughts — it’s about being aware of your physical body too!

Whether you work on a computer or are on your feet all day, take a break and stretch.

Pay special attention to the parts of your body that ache or feel tight, so that way you can continue to care for yourself after returning to your desk.

10. Write down your accomplishments.

Sometimes you don’t realize how much you accomplished at work until you actually write down all of the positive things that happened.

Take a moment before heading home to run through your day and jot down any successes you had. This will make you feel better about your day, your productivity, and your purpose. It allows you to breathe and release the day so you don’t spend your evening worrying about it.

Don’t forget to leave your list of accomplishments on your desk to read the next morning, immediately setting yourself up for another successful day!

Practicing Mindfulness at Work is Easy

Sometimes, work is stressful. We’ve all been there; the days are long, work piles up, and it can feel like it’s never going to get done!

But with these 10 easy mindfulness techniques, you’re well set up to have a productive day at work that’s also productive for your mental health.

Taking into account your own health and well being is the first step to producing good work, and mindfulness is a great first step to get there!

Image: Depositphotos.com

This article, "Want Mindfulness Options for your Employees? Try These 10 Tips" was first published on Small Business Trends



Namogoo raises $40M to stop unauthorized ad injections and ‘customer journey hijacking’

Namogoo, the Herzliya, Israel-based company that has developed a solution for e-commerce and other online enterprises to prevent “customer journey hijacking,” has raised $40 million in Series C funding.

The round is led by Oak HC/FT, with participation from existing backers GreatPoint Ventures, Blumberg Capital, and Hanaco Ventures. It brings total raised by Namogoo to $69 million, and sees Matt Streisfeld, Partner at Oak HC/FT, join the company’s board.

Founded by Chemi Katz and Ohad Greenshpan in 2014, Namogoo’s platform gives online businesses more control over the customer journey by preventing unauthorized ad injections that attempt to divert customers to competitors. It also helps uncover privacy and compliance risks that can come from the use of 3rd and 4th party ad vendors.

More broadly, Namogoo says that customer journey hijacking is a growing but little-known problem that by some estimates affects 15-25 percent of all user web sessions and therefore costs e-commerce businesses hundreds of millions in lost revenue.

Unauthorized ads are injected into consumer web browsers – on the consumer side, typically via malware the user has unintentionally installed – meaning that e-commerce sites are often unaware that it is even happening. This results in product ads, banners, and pop-ups which appear when visiting an e-commerce site. The ads disrupt the user experience, hoping to send them to competitor sites.

Namogoo says that retailers using its technology see conversion rates increase between 2-5%, which in the first half of 2019 totalled over $575 million in revenue for Namogoo customers. It is used by more than 150 global brands in over 38 countries, including Tumi, Asics, Argos, Dollar Shave Club, Tailored Brands, Upwork, and others.

Meanwhile, Namogoo will use the new funding to further expand its client-side platform offerings, beginning with the launch of its “customer privacy protection solution”. “The solution detects and mitigates against customer privacy risks associated with 3rd- and 4th-party vendors running on company websites and applications,” explains the company.



Femtech startup Inne takes the wraps off a hormone tracker and $8.8M in funding

Berlin-based femtech startup Inne is coming out of stealth to announce an €8 million (~$8.8M) Series A and give the first glimpse of a hormone-tracking subscription product for fertility-tracking and natural contraception that’s slated for launch in Q1 next year.

The Series A is led by led by Blossom Capital, with early Inne backer Monkfish Equity also participating, along with a number of angel investors — including Taavet Hinrikus, co-founder of TransferWise; Tom Stafford, managing partner at DST; and Trivago co-founder Rolf Schromgens.

Women’s health apps have been having a tech-fuelled moment in recent years, with the rise of a femtech category. There are now all sorts of apps for tracking periods and the menstrual cycle, such as Clue and Flo.

Some also try to predict which days a women is fertile and which they’re not — offering digital tools to help women track bodily signals if they’re following a natural family planning method of contraception, or indeed trying to conceive a baby.

Others — such as Natural Cycles — have gone further down that path, branding their approach “digital contraception” and claiming greater sophistication vs traditional natural family planning by applying learning algorithms to cycle data augmented with additional information (typically a daily body temperature measurement). Although there has also been some controversy around aggressive and even misleading marketing tactics targeting young women.

A multi-month investigation by the medical device regulator in Natural Cycles’ home market, instigated after a number of women fell pregnant while using its method, found rates of failure were in line with its small-print promises but concluded with the company agreeing to clarify the risk of the product failing.

At issue is that the notion of “digital contraception” may present as simple and effortless — arriving in handy app form, often boosted by a flotilla of seductive social media lifestyle ads. Yet the reality for the user is the opposite of effortless. Because in fact they are personally taking on all of the risk.

For these products to work the user needs a high level of dedication to stick at it, be consistent and pay close attention to key details in order to achieve the promised rate of protection.

Natural contraception is also what Inne is touting, dangling another enticing promise of hormone-free contraception — its website calls the product “a tool of radical self-knowledge” and claims it “protect[s]… from invasive contraceptive methods”. It’s twist is it’s not using temperature to track fertility; its focus is on hormone-tracking as a fertility measure.

Inne says it’s developed a saliva-based test to measure hormone levels, along with an in vitro diagnostic device (pictured above) that allows data to be extracted from the disposable tests at home and wirelessly logged in the companion app.

Founder Eirini Rapti describes the product as a “mini lab” — saying it’s small and portable enough to fit in a pocket. Her team has been doing the R&D on it since 2017, preferring, she says, to focus on getting the biochemistry right rather than shouting about launching the startup. (It took in seed funding prior to this round but isn’t disclosing how much.)

At this stage Inne has applied for and gained European certification as a medical device. Though it’s not yet been formally announced.

The first product, a natural contraception for adult women — billed as best suited for women aged 28-40, i.e. at a steady relationship time-of-life — will be launching in select European markets (starting in Scandinavia) next year, though initially as a closed beta style launch as they work on iterating the product based on user feedback.

“It basically has three parts,” Rapti says of the proposition. “It has a small reader… It has what we call a little mouth opening in the front. It always gives you a smile. That’s the hardware part of it, so it recognizes the intensity of your hormones. And then there’s a disposable saliva test. You basically collect your saliva by putting it in your mouth for 30 seconds. And then you insert it in the reader and then you go about your day.

“The reader is connected to your phone, either via BlueTooth or wifi, depending on where you are taking the test daily… It takes the reading and it sends it over to your phone. In your phone you can do a couple of things. First of all you look at your hormonal data and you look at how those change throughout the menstrual cycle. So you can see how they grow, how they fall. What that means about your ovulation or your overall female health — like we measure progesterone; that tells you a lot about your lining etc. And then you can also track your fluids… We teach you how to track them, how to understand what they mean.”

As well as a contraception use-case, the fertility tracking element naturally means it could also be used by women wanting to get pregnant. Eirini Rapti

“This product is not a tracker. We’re not looking to gather your data and then tell you next month what you should be feeling — at all,” she adds. “It’s more designed to track your hormones and tell you look this is the most basic change that happens in your body and because of those changes you will feel certain things. So do you feel them or not — and if you don’t, what does it mean? Or if you do what does it mean?

“It builds your own hormonal baseline — so you start measuring your hormones and we go okay so this is your baseline and now let’s look at things that go out of your baseline. And what do they mean?”

Of course the key question is how accurate is a saliva-based test for hormones as a method for predicting fertility? On this Rapti says Inne isn’t ready to share data about the product’s efficacy — but claims it will be publishing details of the various studies it conducted as part of the CE marking process in the next few weeks.

“A couple more weeks and all the hardcore numbers will be out there,” she says.

In terms of how it works in general the hormone measurement is “a combination of a biochemical reaction and the read out of it”, as she puts it — with the test itself being pure chemistry but algorithms then being applied to interpret the hormonal reading, looping in other signals such as the user’s cycle length, age and the time of day of the test.

She claims the biochemical hormone test the product relies on as its baseline for predicting fertility is based on similar principles to standard pregnancy tests — such as those that involve peeing on a stick to get a binary ‘pregnant’ or ‘not pregnant’ result. “We are focused on specifically fertility hormones,” she says.

“Our device is a medical device. It’s CE-certified in Europe and to do that you have to do all kinds of verification and performance evaluation studies. They will be published pretty soon. I cannot tell you too much in detail but to develop something like that we had to do verification studies, performance evaluation studies, so all of that is done.”

While it developed and “validated” the approach in-house, Rapti notes that it also worked with a number of external diagnostic companies to “optimize” the test.

“The science behind it is pretty straightforward,” she adds. “Your hormones behave in a specific way — they go from a low to a high to a low again, and what you’re looking for is building that trend… What we are building is an individual curve per user. The starting and the ending point in terms of values can be different but it is the same across the cycle for one user.”

“When you enter a field like biochemistry as an outsider a lot of the academics will tell you about the incredible things you could do in the future. And there are plenty,” she adds. “But I think what has made a difference to us is we always had this manufacturability in mind. So if you ask me there’s plenty of ways you can detect hormones that are spectacular but need about ten years of development let alone being able to manufacture it at scale. So it was important to me to find a technology that would allow us to do it effectively, repeatedly but also manufacture it at a low cost — so not reinventing the whole wheel.”

Rapti says Inne is controlling for variability in the testing process by controlling when users take the measurement (although that’s clearly not directly within its control, even if it can send an in-app reminder); controlling how much saliva is extracted per test; and controlling how much of the sample is tested — saying “that’s all done mechanically; you don’t do that”.

“The beauty about hormones is they do not get influenced by lack of sleep, they do not get influenced by getting out of your bed — and this is the reason why I wanted to opt to actually measure them,” she adds, saying she came up with the idea for the product as a user of natural contraception searching for a better experience. (Rapti is not herself trained in medical or life sciences.)

“When I started the company I was using the temperature method [of natural contraception] and I thought it cannot be that I have to take this measurement from my bed otherwise my measurement’s invalid,” she adds.

However there are other types of usage restrictions Inne users will need to observe in order to avoid negatively affecting the hormonal measurements.

Firstly they must take the test in the same time window each time — either in the morning or the evening but sticking to one of those choices for good.

They also need to stick to daily testing for at least a full menstrual cycle. Plus there are certain days in the month when testing will always be essential, per Rapti, even as she suggests a “learning element” might allow for the odd missed test day later on, i.e. once enough data has been inputted.

Users also have to avoid drinking and eating for 30 minutes before taking the test. She further specifies this half hour pre-test restriction includes not having oral sex — “because that also affects the measurements”.

“There’s a few indications around it,” she concedes, adding: “The product is super easy to use but it is not for women who want to not think ever about contraception or their bodies. I believe that for these women the IUD would be the perfect solution because they never have to think about it. This product is for women who consciously do not want to take hormones and don’t want invasive devices — either because they’ve been in pain or they’re interested in being natural and not taking hormones.”

At this stage Inne hasn’t performed any comparative studies vs established contraception methods such as the pill. So unless or until it does users won’t be able to assess the relative risk of falling pregnant while using it against more tried and tested contraception methods.

Rapti says the plan is to run more clinical studies in the coming year, helped by the new funding. But these will be more focused on what additional insights can be extracted from the test to feed the product proposition — rather than on further efficacy (or any comparative) tests.

They’ve also started the process of applying for FDA certification to be able to enter the US market in future.

Beyond natural contraception and fertility tracking, Inne is thinking about wider applications for its approach to hormone tracking — such as providing women with information about the menopause, based on longer term tracking of their hormone levels. Or to help manage conditions such as endometriosis, which is one of the areas where it wants to do further research.

The intent is to be the opposite of binary, she suggests, by providing adult women with a versatile tool to help them get closer to and understand changes in their bodies for a range of individual needs and purposes.

“I want to shift the way people perceive our female bodies to be binary,” she adds. “Our bodies are not binary, they change around the month. So maybe this month you want to avoid getting pregnant and maybe next month you actually want to get pregnant. It’s the same body that you need to understand to help you do that.”

Commenting on the Series A in a supporting statement, Louise Samet, partner at Blossom Capital, said: “Inne has a winning combination of scientific validity plus usability that can enable women to better understand their bodies at all stages in their lives. What really impressed us is the team’s meticulous focus on design and easy-of-use together with the scientific validity and clear ambition to impact women all over the world.”



Freetrade, the UK challenger stockbroker, completes $15M Series A

Freetrade, the U.K. challenger stockbroker that offers commission-free investing, has closed $15 million in Series A funding. The round includes a $7.5 million investment from Draper Esprit, the U.K. publicly-listed venture capital firm, along with previously announced equity crowdfunding via Crowdcube.

The funding will be used by Freetrade for further growth and product development, including “doubling down” on engineering hires. The fintech, which claims over 50,000 customers, is also planning to expand to Europe next year.

In addition, Adam Dodds, CEO and founder of Freetrade, tells me there will be a marketing and content push to help reach more of the challenger stockbroker’s target millennial customers and help educate the market as a whole that investing in the stock market doesn’t have to be prohibitively expensive or complicated.

Amongst a number of new stock trading and investment apps in the U.K., London-based Freetrade was first out of the gate as a bona-fide “challenger broker” after deciding early on to build its own brokerage. This included obtaining a full broker license from the FCA, rather than simply partnering with an established broker.

The Freetrade app lets you invest in stocks and ETFs. Trades are “fee-free” if you are happy for your buy or sell trades to execute at the close of business each day. If you want to execute immediately, the startup charges a low £1 per trade. The idea is to put the heat on the larger incumbents that can charge up to £12 per trade, which is off-putting to people wanting to only invest a small amount or regularly refresh a modestly-sized portfolio.

Meanwhile, Dodds says that next on the product roadmap will be a new investment platform that will give users the option to purchase U.K. and European “fractional” shares, not just U.S. ones, which he claims will be a first.

With that said, competition has been steadily increasing since Freetrade set up shop. Silicon Valley’s Robinhood is gearing up for a U.K. launch, having recently got regulatory approval. Bux has also recently launched commission-free trading and now bills itself as a challenger broker just like Freetrade. Then, of course, there’s Revolut, the fast-growing challenger bank that tentatively launched fee-free stock investing in August.

Noteworthy, AndrƩ Mohamed, previously CTO and a co-founder of Freetrade, joined Revolut as its new Head of Wealth & Trading Product, adding a bit of extra spice to that rivalry. As I wrote at the time, the circumstances that saw Mohamed depart Freetrade remain unclear. According to my sources, his contract was terminated last year and the two parties settled, with Freetrade accepting no liability.

“Freetrade are on a mission to open up investment opportunities for everyone, as are we,” says Simon Cook, CEO of Draper Esprit, in a statement. “In this sense, their mission is totally aligned with our own, as a rare tech-focused VC listed on the stock exchange. The company have shown exceptional growth in the short time since they first launched the platform last year. We could not be more delighted to support Adam, Viktor, Ian and their wider team as they enable Europe’s 100 million millennials to benefit from the world’s economic growth”.



Technologies Enhanced by Robotic Process Automation

Robotic Process Automation (RPA) has seen tremendous growth recently. It affects almost every industry and dramatically enhances a vast number of technologies.

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3 Ways You Can Develop Amazing Products in the Fashion Industry

Fashion industry is very sensitive to fickle taste of consumers. Having the right product in your portfolio is crucial to success. These tips can help you get started on the right path.

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Wednesday, 30 October 2019

Latin America Roundup: Uber acquires Cornershop, Softbank invests in Buser, Olist

Brazil continued to churn out unicorns this month, with Curitiba-based Ebanx becoming the first startup from the southern part of the country to top a $1 billion valuation. U.S.-based FTV Capital provided the investment but did not disclose the amount invested nor the exact valuation of Ebanx after the investment.

Ebanx is an end-to-end payment processor that helps international companies receive payments in the Latin American market, similar to Stripe. Their clients include Airbnb, AliExpress, Pipedrive, Spotify, Uber and Wish, and more than 50 million Latin Americans have conducted transactions with more than 1,000 companies through the Ebanx platform. This investment comes on the heels of exciting partnerships with Uber Pay, Shopify, Spotify and Visa to expand cross-border payment processing across the region.

Ebanx has operations in Brazil, Mexico, Argentina, Colombia, Chile, Peru, Ecuador and Bolivia, and will expand their local payment solution, Ebanx Pay, into Colombia in 2020. The company has grown its user base by offering a full-service product that includes market research, 24/7 customer service and anti-fraud technology.

The Ebanx investment is part of a growing interest in Latin American payments startups. Brazil’s PagSeguro and StoneCo had successful IPOs last year, while Mexico’s Conekta and Ecuador’s Kushki have raised large rounds to try to unite the region under a single processor as Latin America rapidly adopts e-commerce.

Uber acquires Cornershop, takes off where Walmart left off

The acquisition of the Chilean-Mexican grocery delivery startup Cornershop has been an emotional roller coaster for Latin American entrepreneurs and investors throughout 2019. First Walmart announced a $225 million deal that would be one of the bigger exits of the region, then the acquisition was blocked by Mexican antitrust institution COFECE. This announcement dealt a blow to the ecosystem as entrepreneurs and VCs had eagerly awaited this boost in liquidity in the local market.

Last-mile delivery and logistics became a very competitive space in Latin America in 2018.

Then in mid-October 2019, Uber announced it would take a 51% stake in Cornershop for a reported $450 million, quadrupling the startup’s value in the four months since the COFECE decision. This deal will consist of cash, investment in Cornershop’s growth and stock in Uber, which IPO’d earlier this year.

However, this deal must also be approved by the Chilean and Mexican antitrust boards, which are expected to release their decisions within the next two weeks. In the meantime, Cornershop will continue its expansion into the Colombian market after it added Peru and Canada in 2019.

Last-mile delivery and logistics became a very competitive space in Latin America in 2018, and many of the players are sitting on enormous pools of capital. Colombia’s Rappi raised $1 billion from SoftBank in early 2019, breaking records for startup investment for the region. Brazil’s iFood raised $500 million from Naspers at the end of 2018. However, delivery continues to be a cash-intensive business, with many of these companies burning through capital quickly to gain market share. Cornershop was an exception and had raised less than $50 million before the acquisition.

Brazil’s Buser, Olist, raise funding from SoftBank

Despite the WeWork crash, SoftBank has continued investing consistently in Brazilian startups. In early October 2019, the Japanese investor led an undisclosed Series B round for Brazilian collaborative bus chartering startup Buser. Buser’s team will invest more than $73 million in growth over the next 12 months to create new alliances for their network of operating partners.

Buser helps coordinate groups of people to charter buses at convenient times and lower prices, disrupting the bureaucratic, anti-competitive and inefficient bus system. The company has grown 1,500% over the past nine months and serves more than 3,000 people per day. While Buser has been popular with locals, traditional bus drivers are calling for regulation to slow the company’s meteoric growth. Buser plans to add more than 100 direct jobs in 200 cities over the next 12 months, and SoftBank’s most recent investment will help power this growth.

Brazil’s e-commerce marketplace integrator Olist also received investment from SoftBank for its Series C, coming in around $46 million. Redpoint eVentures and Valor Capital also participated in the round. 

This investment signals the increased interest by traditional retailers in startups that are slowly chipping away at their market share across the region.

Olist connects small businesses to larger product marketplaces to help entrepreneurs sell their products to a larger customer base. They will reportedly use this investment to investigate the development of financial products and look for collaboration with SoftBank’s other companies, like Rappi and Loggi. Based in Curitiba, Olist was founded in 2015 to help small merchants gain market share across the country through a SaaS licensing model to small brick and mortar businesses.

Today, Olist has more than 7,000 customers and uses a drop-shipping model to send products directly from stores to clients around the country, allowing them to grow with a capital-light model. They will use the investment to add up to 100 new employees.

Carrefour Brazil acquires 49% of Ewally

Grocery chain Carrefour acquired a large stake in Brazil-based Ewally after it completed Village Capital’s first regional acceleration program.

Ewally improves financial inclusion in Brazil through a mobile wallet app that allows unbanked clients to pay bills and make purchases online through the blockchain. Carrefour will reportedly use the acquisition to accelerate digital transformation and improve online payment mechanisms throughout Brazil.

Carrefour did not disclose the amount invested and the deal is still subject to approval by Brazilian financial regulation authorities. However, this investment signals the increased interest by traditional retailers in startups that are slowly chipping away at their market share across the region.

News and Notes: Early-stage rounds are getting bigger

Startups in Brazil, Colombia and Argentina raised several rounds this month, ranging from $1.5 million to $13 million. Brazil’s Xerpa, Colombia’s Sempli, Brazil’s Gorilla and Argentina’s Bitso and Worcket were among those that raised capital from local and international investors in October 2019.

Brazilian human resource management platform Xerpa raised $13 million from Vostok Emerging Finance to continue to help companies like MercadoLibre, iFood and QuintoAndar provide benefits for their employees. Previous investors include Nubank’s David Velez, Kaszek Ventures and QED Investors.

Sempli, an online lending platform for small businesses in Colombia, raised an $8 million Series A from new investors Oikocredit and Incofin CVSO, as well as previous investors BID LAB, XTPI Fund, GeneraciĆ³n Exponencial, and Impulsum Ventures. To date, Sempli has raised more than $24 million in equity funding. The founders will use this round to grow their portfolio and improve their risk assessment technology to provide more small business loans in Colombia.

Brazil’s Quicko, an alternative mobility startup that uses big data, raised $10 million in October from Brazilian transport company CCR. Quicko’s technology integrates all mobility options — from bicycles to Uber and 99 — to help people get where they need to go as quickly and inexpensively as possible.

Also in Brazil, startup Gorilla Invest raised $8.4 million from Ribbit Capital, Monashees and Iporanga. Gorilla aggregates financial assets so that investors can review all their commitments in one place, and currently manages more than $1.2 billion for 40,000 clients.

Mexican cryptocurrency exchange Bitso raised an undisclosed round from Argentine startup Ripple to expand into the Southern Cone, especially Argentina and Brazil. Other investors in the round included Pantera Capital, Digital Currency Group, Jump Capital and Coinbase.

Looking ahead to November, with unsettled politics in several countries across the region, tech startups are growing despite governmental changes. Some of these changes will likely have a positive effect on the regional ecosystem as people push for more sustainable and equal economic growth.

What to watch next? Last year, Q4 was marked by a wave of large investments as funds and startups look to end the year strong. IFood raised its record-breaking $500 million round in December 2018. We may well see a similar uptick this year as mega-funds like SoftBank have been consistently investing multi-million dollar rounds since June. There is no sign international investment in Latin America will slow through the end of the year, so we can likely look forward to several more growth-stage rounds before the year is out.