Al Mada Ventures, the $110M fund for Africans by Africans
Al Mada Holding Group is one of Africa’s largest private investment funds. The Casablanca-headquartered private holding operates in different fields, such as banking, telecommunications, renewable energy and the food industry. Over the years, Al Mada’s approach has centered on acquiring majority shareholdings in some of Morocco’s largest private companies, with
Read moreElectric scooter company Bird files for bankruptcy
Bird has filed for Chapter 11 bankruptcy, capping off a turbulent year for the electric scooter company. In a press release today, Bird confirmed that it had entered into a “financial restructuring process aimed at strengthening its balance sheet,” with the company continuing to operate as normal in pursuit of
Read moreShareChat faces large valuation cut in new funding
ShareChat is in final stages of deliberations to secure about $50 million in new funding that trims the startup’s valuation to below $1.5 billion, according to two sources familiar with the matter. Existing backers including Temasek and Tencent are among the investors in advanced stages of talks to invest in
Read moreEpic won’t ban blockchain games over adults-only ratings
Illustration by Alex Castro / The Verge Blockchain games are returning to Epic Games’ marketplace. The Epic Games Store has a strict ban on games classified as “Adults Only” by the Entertainment Software Rating Board (ESRB) — normally games with excessive nudity or violence. But the marketplace announced today that
Read moreRansomware gang ‘unseizes’ its site and issues new threats after FBI takedown
Illustration: Beatrice Sala The US Justice Department (DOJ) says the FBI has created a decryption tool that helped it return the data of over 500 ransomware victims as part of a multinational law enforcement push. It also wrote that the bureau had seized “several websites” operated by the ALPHV /
Read moreMicromobility.com gets delisted from the Nasdaq
Micromobility.com, formerly Helbiz, was delisted from the Nasdaq on Monday as a result of the company’s noncompliance with the stock exchange’s listing rules, according to a regulatory filing. Competitor Bird — the only other shared micromobility company to brave the public markets — was also delisted from the stock exchange in
Read moreTesla requests pause in federal racial bias lawsuit as it wraps up other cases
Tesla wants to pause a federal agency’s lawsuit against the automaker for racial bias against its Black workers at its Fremont assembly plant. The electric vehicle maker, in a filing in San Francisco federal court Monday, accused the U.S. Equal Employment Opportunity Commission (EEOC) of rushing to file a lawsuit
Read moreSecondaries investors say some valuations are still too high
While valuations have fallen quite a bit, some sectors are still too inflated for secondaries investors to find attractive. © 2023 TechCrunch. All rights reserved. For personal use only.
Read moreVolkswagen, Porsche, Audi to adopt Tesla’s charging standard
The Volkswagen Group is the latest automaker to announce it will adopt Tesla’s so-called North American Charging Standard (NACS), marking one of the last major automakers to embrace what is now the de facto EV plug in the United States. The German giant said Tuesday that future vehicles in its
Read moreAstrobotic ready to launch Peregrine lunar lander in early January
Astrobotic’s first lunar lander is ready for lift-off. The company announced Tuesday that the lander, called Peregrine, has completed final checkouts and fueling after it was mated with United Launch Alliance’s Vulcan Centaur rocket last month. All that’s left now is launch on January 8 — followed, of course, by
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