Archive for February 2020
Revolut raises additional $500m in Series D funding round, boosting valuation to $5.5b
The global financial platform Revolut has raised an additional $500 million in a Series D funding round, bringing the total round to $836 million, according to TechCrunch. It also boosts Revolut’s total value up to $5.5 billion, making it one of the highest valued fintech startups in the world, with over 10 million customers. The platform […]
Amazon has removed one million product listings with false claims to protect from coronavirus
Amazon has removed one million product listings from its platform for making false claims to protect from COVID-19, the disease caused by the novel coronavirus, according to Reuters. They also removed tens of thousands of listings that were price gouging for products like protective masks. Italy, which is fighting its own outbreak of the virus, launched […]
Facebook halts election reminders in the EU, in response to concerns from regulators
Facebook has paused its election notification feature, after a key European privacy regulator raised privacy concerns, according to TechCrunch. The social media platform offers an “Election Day Reminder” notification designed to increase voter turnout. A study by the company in 2012 conducted with the University of California at San Diego showed the notifications brought 340,000 additional […]
UK study finds 5G networks pose no health risks from radiation
The UK’s first tests of radiation at 5G base stations has shown levels reaching only a tiny fraction of safe limits, according to BBC News. New tests by the UK communications regulator OfCom found that the highest levels reached just 0.039% of recommended limits, set by the International Commission on Non-Ionizing Radiation Protection (ICNIRP). “Non-Ionizing” refers […]
Speedinvest raises €190m to invest in European tech startups
The European venture capital firm Speedinvest has raised a new €190 million fund to invest in Europe’s early-stage startups, according to EU-startups.com. Speedinvest met its target for the fund ahead of schedule, thanks to robust investor demand, and the fund is now “oversubscribed,” the firm says. The firm typically funds promising new companies with anywhere between €50,000 to €1.5 […]
Report shows Airbnb is crowding out long-term housing in the UK
Airbnb’s short-term rentals are exacerbating a housing shortage and crowding out local communities, according to a report from The Guardian. The Guardian cross-referenced a database of Airbnb listings with government housing data. While the database included shared rooms, private rooms, and entire homes, 67 percent of the listings were for whole apartments. In some areas, the analysis found […]
Tier Mobility, the Berlin-based e-scooter firm, boosts Series B funding round to $100 million
The Berlin-based e-scooter startup Tier Mobility has extended its Series B funding round to $100 million, up from an initial $60 million first announced in October, according to Bloomberg. The mobility platform was first founded in late 2018, and already operates in 55 cities and 11 countries. The new funding comes from equity and debt financing through […]
Atomico raises its largest fund yet, with $820m to back Europe’s “mission-driven” startups
The venture capital firm Atomico has closed its fifth fund, raising $820 million to invest in European startups, according to Tech Crunch. It’s the largest fund raised by the London-based VC firm since it was founded by Skype co-founder Niklas Zennstrom in 2006. The fund will focus on backing “mission-driven” projects at the Series A stage, but also has […]
Yubo shows how a FrenchTech app can go global
While social media platforms like Facebook have come under fire for their harmful impact on mental health, particularly for younger users, the success of one “Made in France” social media platform suggests there’s room for a new approach. Yubo, the French social media startup that emphasizes the “social” aspects of its teen-focused platform, has drawn […]
Digital policy chief says AI and industrial data offer Europe a “second chance” at tech leadership
Europe’s digital policy chief Margrethe Vestager says Europe has a “second chance” to compete with tech sectors in the US and China, by using artificial intelligence (AI) to leverage big data from Europe’s largest companies, according to Politico. “One of the reasons why we don’t have a Facebook and we don’t have a Tencent is that […]