Plus, EnCharge AI raised $21.7M
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British payments company Checkout.com reduced its internal valuation from $40B to $11B in a move that "reflects the current macroeconomic conditions." The level at which employees can exercise their stock options has fallen from $252/share to $65/share. Checkout.com says the move will give employees a greater opportunity to benefit from its "potential economic upside." More: In related news: - Digital payments giant Stripe's internal valuation fell from $95B to $74B in July.
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Barclays intends to invest £500M ($619M) into climate tech startups by 2027 as part of its Sustainable Impact Capital initiative. It expects to invest £175M by 2025. The firm is looking to back early-stage startups accelerating the transition to a low-carbon economy. More: - Barclays hopes to facilitate $1B in debt and equity financing for climate tech startups by 2030.
- Pushback from activists and stakeholders has propelled the British investment bank to make this move and reduce its backing of fossil-fuel companies.
- From the start of 2019 through Nov. 2021, Barclays facilitated $50B of financing for fossil-fuel companies via loans and bond sales, per Bloomberg.
- At the end of Sept. 2022, Barclay’s had total assets totaling £1.7T ($2.1T).
- It has invested £84M ($104.35M) in climate tech startups over the last two and a half years.
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Bollywood Star Deepika Padukone's self-care startup 82°E recently announced it had raised $7.5M Seed. Backers include DSG Consumer Partners and IDEO Ventures. More: - The startup's products, which include moisturizers and sunscreens, are currently for sale in 30 countries.
- The in-house R&D team uses "time-tested Indian ingredients" to develop the company's product line.
- Besides being one of India's highest-paid actresses, Padukone is also a prolific investor.
- In 2017, she started KA Enterprises to invest in startups, including the unicorn beauty store, Purplle.
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EnCharge AI, a company that builds hardware to accelerate AI processing for edge computing, raised $21.7M. The Series A funding round was led by Anzu Partners, with participation from AlleyCorp and Scout Ventures. More: - The funding will go to software and hardware development as well as new customer engagement.
- Encharge AI was constructed by Kailash Gopalakrishnan, an IBM fellow that worked at the tech giant for 18 years.
- The Department of Defense supports the startup via the Electronics Resurgence Initiative, which aims to advance computer chip tech.
- Initially, Encharge AI began as an $8.3M project to investigate new types of non-volatile memory devices.
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Dutch biotech startup Splendo Health is looking to set up operations in Pittsburgh. The firm is in talks with the Pennsylvania Office of International Business Development as it looks to expand into the U.S. The firm was looking to grow in the nation in 2019 but shelved plans due to the onset of the pandemic. More: - Splendo Health's platform leverages artificial intelligence to provide cardiorespiratory function (CRF) assessments for patients.
- The company zeroed in on Pennsylvania due to the state's strong network of hospitals, universities, and other health organizations.
- In addition, CEO Eric Sanchez decided on the state due to the availability of talent in the region and the prospects of expanding into nearby states of Ohio, Virginia, and West Virginia.
- Sanchez hopes to initially set up the sales and R&D teams in the state.
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MNTGE (pronounced "Mintage") is a digital fashion startup bringing real-world vintage pieces into the metaverse. Today, the startup launched its MNTGE Pass NFT, giving buyers early access to its first wearables drop in Q1 2023. More: - The real-world vintage products are transformed, via an image-capture system, into digital twins that can be purchased as NFTs and worn within different metaverses.
- The company has obtained a "broad license" to sell items from select companies but also plans on recreating unlicensed pieces.
- The NFT pass costs 0.5 ETH (~$640).
- The pass grants owners access to the company's community Discord, priority access to its Q1 2023 drop, and the ability to shop for real-world products at its online vintage store.
- MNTGE was co-founded by Snoop Dogg's brand manager Nick Adler, the fashion designer Sean Wotherspoon, and Adidas' former marketing manager Brennan Russo.
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- Real estate industry focussed venture firm Fifth Wall raised $866M in funds to invest in early-stage and late-stage prop-tech startups.
- Austrian early-stage investor Speedinvest closed its fourth fund at €500M ($528M). The firm will back pre-seed and seed-stage startups across deep tech, finance, health, consumer, industrial tech, and SaaS sectors.
- Angelini Ventures, the venture capital arm of Angelini Industries, announced a €300M fund to back digital health and life sciences startups.
- Israeli workplace violence reduction platform EyeKnow won a $75,000 cash prize in the nursing challenge announced by Henry Ford Health. The firm will further develop its product and expand into the U.S. with the help of Henry Ford Health.
- The European nation of Bulgaria introduced a startup visa for entrepreneurs. Applicants will have to pitch their startup ideas and demonstrate its growth potential in order to be eligible for the visa.
- Recruiting tech ROI of 227%? Here’s how Okta achieves its hiring goals using Greenhouse Recruiting and Greenhouse Onboarding.*
*This is sponsored content.
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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. | |
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