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London and SF have become Impact Tech hubs, with 280% increase in VC in 5 years

TechCrunch LA

New research has found that San Francisco and London have become two of the world’s leading hubs for VC investment into tech solutions that address one or more of the 17 UN’s Sustainable Development Goals (SDG), more commonly referred to as “Impact Tech” They are followed by Paris, Berlin, Stockholm, Shanghai and Beijing.

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LA tech industry mourns Kobe Bryant

TechCrunch LA

“Kobe was loved in Los Angeles,” wrote Mark Suster , managing partner of the Los Angeles-based venture capital firm Upfront Ventures , in a private message to TechCrunch. Last year, the investment firm expanded with a $1.7 — Scopely (@scopely) January 26, 2020. You will be missed, @kobebryant.

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New guidance on SBA loans means most startups are still excluded from $349 billion stimulus

TechCrunch LA

— Doug Rand (@doug_rand) April 4, 2020. Until fixed, it's nearly impossible for most VC-backed startups to apply because it would require huge legal lift to amend all of the charters of these companies to change control provisions. — Mark Suster (@msuster) April 4, 2020. Trump (@realDonaldTrump) April 4, 2020.

Startup 322
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Former Tinder VP Launches Startup Accelerator, Product Club

socalTECH

The new accelerator said it will invest $100K in three companies, taking 5 percent equity, and run its accelerator entirely remote. Morris is currently a venture investor at Chapter One Venture Capital. The new accelerator said that applications are due on Sunday, July 19th, for its Summer 2020 class.

Product 113
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Startups Weekly: Upfront Ventures bets on a bus service

TechCrunch LA

Hello and welcome back to Startups Weekly, a weekend newsletter that dives into the week’s noteworthy news pertaining to startups and venture capital. Landline , the operator of a bus network in the Midwest, is one of the latest companies to raise venture capital. Ginkgo Bioworks raises capital at a $4B valuation.

Services 207
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Fintech giant Klarna raises $639M at a $45.6B valuation amid ‘massive momentum’ in the US

TechCrunch LA

In all of 2020, it processed $53 billion in volume. Meanwhile, in 2020, Klara hit over a billion in revenue. We’ve scaled up so massively in investments in our growth and technology, but running on a loss is very odd for us,” he told TechCrunch. Now we have more cash and money available to invest further in the long term.”.

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Apeel Sciences Takes $250M More

socalTECH

The huge funding round comes only about a year since an earlier, $250M funding it raised back in May of 2020. Santa Barbara-based Apeel Sciences, which has developed a plant-based coasting for fresh produce to extend its shelf life, has raised another big $250M funding round, a Series E for the company.