Top tech startup news stories you need to know this Friday, February 23
Nickie Louise
Posted On February 23, 2018
Good morning! Here are some of the top tech startup news stories today Friday, February 23.
China overtakes US in AI startup funding with a focus on facial recognition and chips. According to the latest report from technology analysts CB Insights, China has overtaken the US in the funding of AI startups. The country accounted for 48 percent of the world’s total AI startup funding in 2017, compared to 38 percent for the US. This report is also supported by another report from McClatchy that China races ahead on artificial intelligence.
Arizona-based venture firm seeking blockchain tech startups for investment. Arizona-based Launch Haus is seeking to invest in companies working in blockchain technology with a goal of turning Arizona into the Crypto Valley of North America. The investment is part of plan to invest in 64 companies this year Launch Haus typically invests between $50,000 to $2 million.
LOL. Kylie Jenner cuts Snap’s market value by $1.3 billion with a tweet. Kylie Jenner wiped out $1.3 billion of Snapchat’s market value. She wrote, “sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.” Snapchat stock went south after the tweet. Users pile on with feedback that echoes Wall Street concerns.
Cyber security startup Vectra raises $36 million in investment round. Vectra, a cybersecurity company working with Artificial Intelligence has raised $36 million in the last investment round. Vectra system called Cognito, uses Artificial Intelligence to recognize cyber attacks. Vectra already raised 123 million dollars in investment round. The last time the company was valued two years ago, it was worth almost $ 344 million.
Airbnb introduces hotels and a loyalty program. AirBnB unveils a plan today to broaden its mainstream travel appeal with a roadmap consisting of: new property types, new tiers, Airbnb Collections and community recognition. Turns out the company has a thing or two to learn from Starwood’s Preferred Guest offering.
Surge in Thailand startup funding led by e-commerce, marketplace. The total funding raised for startups in Thailand last year is estimated at US$106 million, with e-commerce and marketplace the biggest sector, says Techsauce Media Co, a local tech content provider. Total startup funding raised from venture capital last year grew by 22.7% from $86 million in 2016.
Record-breaking $560m for African tech startups in 2017, says report. Investment in technology startups across Africa is rising. According to new research from Partech Ventures, investment is flowing too. Their research found that $560 million in venture capital funding was invested in African startups. That’s an increase of 53% from $366,8 million in 2016. The total amount was achieved by 124 startups through 128 rounds of funding.
Stealth space catapult startup SpinLaunch is raising $30 million. According to TechCrunch, SpinLaunch is raising a massive $30 million Series A to develop its catapult technology. The startup was secretly founded in 2014 by Jonathan Yaney, who built solar-powered drone startup Titan Aerospace before it was sold to Google.
Micro Delivery Startup Doodhwala raises $2.2 million from Omnivore. The micro delivery startup, Doodhwala, has raised $2.2 Mn in a round of Seed funding from VC firm Omnivore Partners. The company will use the capital to expand it’s services into new markets, to fund talent acquisition and upgrade its technology.
Product Hunt launches no-spam tech news digest app Sip. Product Hunt yesterday released a tech industry newsletter in iOS and Android form. Sip distills the day’s big headlines into a set of Twitter Moments-esque slideshows delivered via silent notification at 5pm.
