Good day Swaggers, we’re again with the brand new contemporary article on In the present day’s prime tech information: SoftBank-backed Brandless shuts down, Aussie video platform raises US$8.8M
SoftBank-backed e-commerce platform Brandless shuts down – TechCrunch
San Francisco-based Brandless, an e-commerce platform that sells quite a lot of cruelty-free merchandise, is the newest of SoftBank Imaginative and prescient Fund-backed firm to face bother that finally led to its shutdown.
The replace will result in additional scrutiny over SoftBank Imaginative and prescient Fund’s fame. When SoftBank made its funding into Brandless, TechCrunch dubbed it as a “stunning improvement” as the corporate was thought of “comparatively nascent” to boost such a giant quantity of funding. As soon as once more it is a lesson on the significance for startups to have a construct a robust model presence earlier than scaling their enterprise, and for traders to make sure that course of.
What occurred to WeWork in 2019 had led to a rising pattern of traders anticipating a transparent path in direction of profitability from its portfolio. This newest improvement will additional strengthen that consciousness and demand.
Video platform Clipchamp raises US$8.8M in Sequence A funding spherical – Press Launch
Australian video creation platform Clipchamp introduced an AU$13.2 million (US$8.Eight million) Sequence A funding spherical led by Tola Capital with participation from TEN13 and present traders.
With the funding spherical, the corporate additionally introduced that it has reincorporated within the US whereas its headquarters will stay in Brisbane, Australia.
As a video creation platform, Clipchamp permits creators to provide a video with out having to depend on costly or difficult gear or software program. This funding confirmed as soon as once more that content material is king –significantly video content material. Particularly because the firm itself acknowledged that the video content material creation market is now an AU$135 billion trade with 720,000 hours of recent content material up to date on YouTube day-after-day.
Additionally Learn: SoftBank, Seize present curiosity to spend money on Indonesia’s new capital metropolis
Circles.Life raises funding spherical by Warburg Pincus, reportedly nearer to unicorn standing – e27
Singapore-based digital telco startup Circles.Life has raised an undisclosed funding spherical which was reported by Tech In Asia to have introduced the corporate “nearer” to the unicorn standing.
As soon as once more this means Southeast Asia’s power as a market in drawing traders’ curiosity, as international traders continued to invests a considerable amount of funding into growth-stage firms. Nonetheless, as predicted in a report by Cento Ventures, within the upcoming years, this sort of funding would possibly turn out to be rarer as traders will focus extra on investing in additional early-stage firms –with smaller ticket dimension.
Medicinal hashish startup HempStreet raises US$1M in Pre-Sequence A – Tech In Asia
India-based healthcare startup HempStreet, which focuses on analysis and retail of hashish for Ayurvedic medication, has raised US$1 million in pre-series A funding spherical led by US-based pharmatech agency Pharmacon and personal investor Romain Barberis.
This can be a comparatively thrilling replace for an Asia-based hashish startup, and it’s consistent with the potential of the worldwide medicinal hashish trade. Even inside Southeast Asia, international locations similar to Thailand had seen a “inexperienced gold rush” following the current legalisation of hashish use.
HempStreet is not going to be the final Asia-based startup to boost funding. Nonetheless, this improvement will definitely be restricted to markets the place using medicinal hashish is authorized.
The submit In the present day’s prime tech information: SoftBank-backed Brandless shuts down, Aussie video platform raises US$8.8M appeared first on e27.