December 5, 2023

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Hello and happy Thursday. There is only one day left in the work week. he came I was in Boston to capture some great photos from today’s event at TechCrunch Early Stage, so I’m holding the fort. I’m also mourning the fact that I left my blue Twitter check mark today. enough. Let’s move on to the news! — Christine

TechCrunch Top 3

  • passwords are hard to remember: The company behind encrypted email service Proton Mail has launched the Proton Pass password manager, so you don’t have to do any memorization. Roman There are more.
  • Don’t worry, it’s a Primo tool: besides RomanFrench startup Primo raises $3.4 million to continue developing IT tools for companies where IT managers can’t do it.
  • blue sky smiles at me: Bluesky, the Jack Dorsey-backed Twitter alternative now available on Android, writes Sarah.

Startups and Venture Capital

Three former Amex Ventures managing directors who started Vesey Ventures on their own have now closed their first fund and backed early-stage fintech startups with $78 million in capital commitments. marianne There is more to their journey.

Turning now to CoreWeave, it raised $221 million in Series B funding, half of which came from lead investor Magnetar Capital. Kyle That values ​​the general-purpose cloud computing company at $2 billion, writes.

Here are six more for you:

  • Games start: rita Uncover the layers of Bitkraft Ventures’ vision to invest in Asian gaming startups.
  • A Robust View of Robotics: Robust.AI reportedly raises $20 million to expand robot deliveries for pilot clients brian.
  • From Hotel to Fleet Management: Two brothers in Senegal are applying their hotel management skills to help trucking companies with their logistics. Their company, Chargel, has now raised $2.5 million in seed funding, anne Write.
  • focus on mental health: take Talking to investors, they say that if founders’ mental health is linked to innovation and success, it needs to be understood, especially in this difficult capital squeeze environment.
  • Like Barbie’s Jeep, but at life-size: French microcar startup Kate has reportedly raised another $7.6 million to build more tiny electric cars like the K1 Roman.
  • We assure you they are real: Singapore-based document verification agency Accredify now has $7 million to keep telling you if a document is real. Catherine There are more.

4 Problems Venture Capital Can’t Solve

Shredded dollar bills on a plate

Image credits: Alexander Schuss (opens in new window) / Getty Images

Fundraising is a key aspect of every founder’s journey, but Techstars managing director Colin Wallace says it can also hasten a company’s demise.

For example, raising capital to expand sales and marketing efforts may sound good, but what if the business itself has negative unit economics?

“Most of the time, it’s not a lack of money that’s holding back a company’s ability to scale,” Wallace said.

“It’s better to ask: Do we have a busywork problem? A product problem? A process problem? A people problem? Is there something fundamentally flawed in my business model?”

4 Problems Venture Capital Can’t Solve

Two more from the TC+ team:

  • Ooey gooey pitch deck goodness: In the latest issue of Pitch Deck Teardown, he came Check out the funding platform that led to Honeycomb’s $50 million Series D round.
  • thread a needle: Dominique Madori Chatting with Lisa Lambert, Head of National Grid Partnerships at National Grid CVC, she discusses that “environmental and social issues should now be at the forefront of any savvy investor’s mind. “

TechCrunch+ is our membership program that helps founders and startup teams stay ahead of the pack. you can sign up here. Use code “DC” for 15% off your annual subscription!

big tech company

SpaceX finally launched the Starship rocket, which reached orbit for the first time. Darrell “All in all, this should definitely be considered a success: SpaceX founder Elon Musk has previously said that, in essence, there’s a good chance that Starship won’t even be able to get off the pad on the first try,” wrote the post.

Tricks are for kids, but in Discord’s case, tricks are for its new chatbot. Lorenzo Some users have reportedly performed a trick called “jailbreak” on Discord’s Clyde chatbot, having it share napalm and meth commands.

Now here are five more for you:

  • previous explicit content: Imgur will ban explicit images on its platform, ivan report.
  • from the mind of: Kyle Wrote on Google’s integration of its AI research division into Google DeepMind.
  • interrupt: It’s no secret that group chats tend to suck when more than three people are in one. A new app called Wavelength is trying to make group chats a little less awful. ivan There are more.
  • we have our own fleet: Kodiak Robotics reportedly has a new mission to autonomously transport goods for Tyson Foods rebecca.
  • Respect my authority!: Lauren There are details about how Paramount allegedly owes Warner Bros. Discovery $52 million for the “South Park” streaming rights.

Daily Crunch: Proton releases end-to-end encrypted password manager for desktop and mobile, by Christine Hall, originally published on TechCrunch