Top tech startup news stories you need to know this Monday, June 4
Good morning! Here are some of the top tech startup news stories for today, Monday, June 4.
Fintech unicorn startup TransferWise strikes first deal with a major bank to offer cheap currency transfers. TransferWise announced a partnership on Monday with France’s Groupe BPCE, to offer its low-cost money transfer service to the lender’s customers. TransferWise provides a cheaper way to send money internationally. The startup currently has over about 3 million customer who left their banks to get a great exchange rate and a low fee. The startup currently has transfer about 2 billion euros ($2.3 billion) each month. With the partnership with BPCE, the company is is looking to boost its reach. BPCE is the second-largest banking group in France.
AgTech blockchain startup Bext360 raises $3.35 million to provide traceability to commodities. Blockchain SaaS startup Bext360 announced Friday that it has completed its $3.35 million seed round. Investors in the startup include SKS Ventures and Plug and Play Ventures. The startup provides traceability for coffee products with a Coinstar-like device for farmers. Bext360 is a traceability Software-as-a-Service (SaaS) platform focusing on critical supply chains such as coffee, cocoa, seafood, palm oil, minerals (Coltan, Cobalt), timber and cotton. We provide a traceable fingerprint to track products from producer to consumer.
L’Oreal Buys Silicon Valley augment reality Startup Modiface. The French beauty giant acquired its first startup Modiface, a Silicon Valley startup powering hundreds of these digital makeover experiences. Modiface creates augmented reality tech for beauty brands. While Modiface the amount of the transaction is not disclosed, its Chinese equivalent Meitu is worth billions of dollars. Meitu is a global innovator in mobile video and photography, including beauty themed photo & video apps.
Music startup Roli announced new strategic investment from the Sony Innovation Fund. London-based startup, Roli, today announced new strategic investment from the Sony Innovation Fund, The startup develops new styles of keyboards to compose and play music that subsequently can be consumed and engaged with using smartphones and other devices.
Google won’t renew Pentagon AI Drone contract after backlash from its staff. Google will not renew its contract with Pentagon after it expires next year. The program helps the Defense Department analyze drone footage using Google artificial intelligence, was met with fierce backlash from the search giant’s employees.
Microsoft has acquired GitHub. As we reported yesterday night, tech giant, Microsoft Corp., has agreed to acquire GitHub Inc., according to a report from Bloomber, citing sources familiar with the arrangement. GitHub, a code library for programmers, was last valued at $2 billion. The deal could close as soon as today, Monday.
Apple is looking to launch a mobile advertising network soon. Apple is looking to expand its advertising business with new network for apps, according to a report from Wall Street Journal (WSJ) citing sources familiar with the matter. The ad sales from the new advertising network could help offset slowing iPhone growth, but effort would face stiff competition from Google and Facebook, WSJ said.
Financial adviser tech startup Advicefront raises £1.3m to launch trio of online advice tools. Advicefront, the adviser tech startup, has closed a £1.3m funding round led by platform technology provider FNZ. Advicefront is new way to deliver financial advice
Advicefront allows users to collect and organise client data, deliver advice more efficiently and delight clients with your human touch. The London-based firm plans to use the funds to help launch a trio of online advice tools onto the UK market that will “help financial planners eradicate bureaucracy, complexity and paperwork from their businesses.”
Dating app startup Coffee Meets Bagel raises $12 million to expand outside the US. Online dating app Coffee Meets Bagel announced it has closed a $12 million funding round led by UK-based venture capital firm Atami Capital with participation from other investors, including GingerBread Capital, DCM Ventures, Wi Harper and Quest Venture Partners. The latest funding round brings the total raised by the company to nearly $20m since 2012. The app was named one of the Top 10 Dating apps by Time Magazine and the Best Dating App for Women by Refinery29.
White Star Capital closes $180 million fund for early-stage transatlantic startups. Global venture capital firm White Star Capital has closed a second fund of $180 million, money it plans to invest in “transatlantic” companies that need help to go international. The VC already has a presence in London, New York, and Montreal, and as part if its new fund is adding Paris and Tokyo to the list. White Star Capital is an early-stage venture capital fund that backs exceptional entrepreneurs with global ambitions, leveraging their extensive experience and networks to help them scale their businesses internationally.