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NFT startup Autograph let go of "dozens" of employees in marketing, HR, and creative roles, which it blamed on macroeconomic conditions. Autograph users can purchase sports-related NFTs on its platform. Autograph was co-founded by Tampa Bay Buccaneers quarterback Tom Brady. More: - Autograph has raised $205M since its inception in 2021, according to Crunchbase.
- It raised $170M at an undisclosed valuation in January.
- Business Insider notes Autograph has 124 employees.
- Sam Bankman-Fried, the former CEO of the bankrupt cryptocurrency exchange, served on Autograph's board but left at an unknown date.
Zoom out: - Brady is among a list of celebrities who were included in a lawsuit that was filed in November following the collapse of FTX, which caused consumers to lose $11B collectively.
- Web3 startups saw their venture funding decline from $6B in Q3 2021 to $3.3B in Q3 2022.
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Helm.ai, a startup that develops software for advanced driver assistance systems, autonomous driving and robotics, raised $31M. The Series C round pushed the company's valuation to $431M. More: - The funding round was led by Freeman Group.
- Brandon Freeman, the founder of the Freeman Group, is joining the Helm.ai board of directors as part of the Series C round.
- Just in 2021, Helm.ai raised $26M in venture funding, mainly from Honda Motor Co., Goodyear Ventures, and Sungwoo Hitech.
- Helm.ai developed software that can train neural networks without needing large-scale fleet data, simulation, or annotation.
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Today, Axelar, a proof-of-state blockchain company, launched its Axelar Ecosystem Startup Funding Program to help grow and sustain startups building decentralized applications and protocols. The $60M funding initiative includes backing from more than 15 investors. More: - Investors include Blockchange, Chorus One, Collab+Currency, Cygni, dao5, DCVC, Divergence Ventures, Dragonfly Capital, Lemniscap, Morningstar Ventures, Nima Capital, Node Capital, North Island Ventures, Rockaway Blockchain Fund, and SCB 10X.
- The investment will help grow Web3 by incentivizing startups to build decentralized programs rather than centralized ones.
- Earlier this year, Acelar debuted its Axelar Grant Program, which helped jumpstart 50 early-stage startups, 33% of which went on to raise pre-seed or seed funding.
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Mangomint, a startup that offers a SaaS tool for salons, raised $13M. The startup streamlines the booking experience for the beauty industry, from spas and massage parlors to piercing and tattoo studios. More: - Mangomint recently had 200,000 monthly appointments in 1,000 locations in the U.S. and Canada.
- OpenView Venture Partners led the Series A round.
- The startup is helping companies with the labor shortage, which began due to the COVID-19 pandemic.
- Mangomint streamlines booking, point-of-sale, employee payroll, and customer relationship management.
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The fashion-startup Virgio is now valued at $161M after a $37M Series A round. Prosus Ventures, Alpha Wave, and Accel co-led the round. More: - The fashion producer is looking to build a "global fashion brand."
- Virgio combines the manufacturing and purchase process to afford customers bigger discounts and free shipping.
- As a result of its novel production method, the startup has decreased lead times from an average of 8-10 months to 1 month.
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Oyin Solebo is set to join the ARM Labs Lagos Techstars Accelerator Program as its managing director. The Lagos-based division was announced earlier this year and will be run in partnership with ARM Labs. Solebo joins ahead of the division’s inaugural accelerator cohort, which commences in Jan. 2023. More: - The program is aimed at supporting fintech and proptech startups serving the African region.
- In its inaugural year, the program will back 12 startups.
- Solebo co-founded Movemeback, an organization that connects African startups with overseas talent.
- She is an MBA graduate from London Business School and had a stint as an investment associate with Goldman Sachs.
- She is tasked with scaling the Techstars accelerator program in Africa.
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Quick Hits: - No more waiting weeks to find a therapist. Sign up with BetterHelp, and you can get matched with a therapist in less than 48 hours.*
- AWS selected Cyber Legends, an interactive learning platform for kids, to join its EdStart accelerator program.
- Sanjay Gupta, country manager and VP for Google India, announced that the firm would focus on backing women-led early-stage startups in India. The firm will invest in startups through its $10B India Digitization Fund.
- SoftBank-backed virtual reality startup Improbable is cutting 10% of its workforce as it focuses on achieving profitability in 2023.
- Australian grocery delivery service YourGrocer shut down operations on Friday last week. The company failed to raise $1M in financing from the crowdfunding platform Birchal.
- German cybersecurity firm VMRay secured $34M in Series B funding led by Tikehau Capital.
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, and Licensed Pilot.
Jigney Pathak is a Business Researcher at Inside who loves technology, finance & sports. He has a Bachelor of Business Administration with a finance specialization & has previously worked at Salesforce.
Courtney Rawlings is an Inside Research Analyst living in Los Angeles, California. She has returned to her hometown of LA after spending several years working at Emory University in Atlanta, Georgia, where she is completing a Ph.D. in Art and Architectural History.
Martin Ruiz-Cantu is a Business Researcher at Inside.com. He has a Master's in Global Business and Finance from Georgetown University. He previously worked at HSBC and the World Bank. He is passionate about finance, startups and tech.
| | | | Editor | Vibha Chapparike is a Freelance Writer & Editor at Inside.com. With her post-graduation in Management and Finance completed, Vibha is expanding her knowledge in venture capital, business, startups, and technology. She has had a career in public relations and communications. An ardent reader and writer currently residing in Singapore, you can follow Vibha on Twitter @VChapparike. | |
