PharmEasy, once valued at over $5 billion, seeks new funding at a 90% valuation cut
Indian online pharmacy startup PharmEasy has informed its existing investors that it plans to raise about $300 million shortly in a new round of funding at a 90% markdown from the previous valuation, a person familiar with the matter said. Should PharmEasy secure the new funding, its valuation will be
Read moreWhat You Need to Know about the Smartphone Food Sensor
It is estimated that globally 1.4 billion tons of food is wasted every year. Not only does the amount of food wastage have adverse effects on the world economy, but also contributes to 10% of greenhouse emissions. Major Health Risk Spoilt food is also a health risk – containing harmful
Read moreAfter bootstrapping for 8 years, accounting startup Dougs raises $27 million
Dougs, a French accounting startup, has been around since 2015. It already generates $16.4 million (€15 million) in annual recurring revenue. And it’s a bootstrapped company, meaning that it hasn’t opened its capital and raised any funding from VC firms. But now, the company has decided to raise its first
Read moreChina’s WeRide secures self-driving vehicle license from UAE
The United Arab Emirates has given Chinese autonomous driving company WeRide the first national license for self-driving vehicles. The permit allows WeRide to test its Level 4 autonomous vehicles on public roads throughout the country. Level 4 is a designation by SAE that means the vehicle can handle all aspects
Read moreKentucky is the first state to mandate Tesla’s charging plug
Kentucky now requires that electric vehicle charging companies include Tesla’s charging plug if they want to secure federal funds from a state program to electrify highways, Reuters reports. The plan went into effect Friday, making Kentucky the first state to officially mandate Tesla’s charging technology. Texas and Washington have also
Read moreRoundtable examines stark differences in a CIO’s role today versus the past
A recent roundtable organized by The IT Media Group explored the “rapidly evolving” role of the chief information officer (CIO), which ultimately means incumbents must acquire new skills and implement different strategies. The core argument was this: The modern CIO must approach the business of IT differently, by helping to
Read moreventureLAB launches nation’s first Hardware Angel Network
Markham, Ont.-based ventureLAB last week launched the Hardware Angel Network (HAN), a new entity that it described as the “only hardware and deep-tech focused investor network supporting pre-seed and seed stage startups in the country.” The network, the organization said in a release issued at Collision 2023 in Toronto, “catalyzes
Read moreFarmers use tech too with Charles Baron from Farmers Business Network
Welcome back to Found, where we get the stories behind the startups. This week Becca and Dom are joined by Charles Baron, the co-founder and CMO at Farmers Business Network (FBN), a startup that offers a suite of online services to farmers. Baron talked about what led him — a
Read moreDeep tech in Latin America and the Caribbean is set to skyrocket
The Tesla Gigafactory planned to be built in Mexico should be seen, Bloomberg argues, “as a graduation moment for Mexican manufacturing.” And there’s hope that the CHIPS bill, which President Joe Biden promoted to supercharge semiconductor production in the U.S., will benefit its southern neighbor as well. While the prospect
Read moreChinese EVs have yet to succeed in Europe. The Middle East could be different
For Chinese electric car manufacturers, Europe has long been a priority destination for international expansion. With its affluence, environmental consciousness, and relatively friendly attitude towards China, the continent has attracted established players like BYD as well as emerging brands like Nio and Xpeng. Despite their ambitious plans, Chinese EV makers
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