Items tagged with: tc
Grover, the Berlin-based startup that offers “pay-as-you-go” subscriptions to the latest consumer tech as an alternative to owning products outright, is going all-in on e-scooters or so-called micro-mobility. The latest to jump in on the e-scooter craze, the company is launching an e-scooter monthly subscription service in Germany.
Dubbed GroverGo, customers can rent the Xiaomi e-Scooter Mijia M365 for €49.90 per month and have access to a rental scooter of their own for a fraction of the cost of buying.
The idea — and thinking behind Grover as a whole — is that instead of purchasing an e-scooter outright (or in this instance, relying on using the sprawling number of pay-per-ride services), GroverGo customers can enjoy unlimited e-scooter rides without the up front costs or commitment of owning an e-scooter. A GroverGo rolling monthly subscription can be canceled at any time and includes Grover Care damage coverage.
The Xiaomi scooter goes up to 25 km/h, and can ride up to 30 km without recharging. It is also foldable and fairly lightweight, which Grover says makes it easy to travel with. The company also reckons that GroverGo makes sense for anyone who would ride 10 or more times per week.
“The biggest advantage of GroverGo versus pay-per-ride e-scooter services is the guaranteed availability and efficient use, as each scooter stays with its renter rather than hundreds of them clogging the sidewalks waiting to be picked up and recharged,” says Grover, taking a dig at the likes of Lime and Bird. “GroverGo customers make their scooter their own for the time of their subscription and know that it’s always charged and at their disposal. Even in the most remote neighbourhoods, the scooter can be folded and taken to the office or a bar and will be there for the ride home”.
The tech subscription service is also confident e-scooters will become more useful, as German authorities make changes to how the devices are regulated. “Thanks to a recently issued ordinance by the federal government, it is expected that Germany may will change its regulations and allow e-scooters on public streets soon,” says Grover.
Meanwhile, Michael Cassau, CEO and founder of Grover, tells me he believes micro-mobility services the “future of cities” and that the Product-as-a-Service model that Grover is based on is particularly suited to the space. “I am confident that our approach with GroverGo is smart and efficient, and will convince many to switch to e-mobility without the barriers and commitment of buying and financing, and without the hassle of shared e-scooter services,” he adds.
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Originally posted at: https://www.aevl.us/2019/02/14/grover-launches-e-scooter-subscription-service/
Chris Lorenz, Geoffrey Anderson, and James Borow may have spent their days over the past few years working at Snap, but on nights and weekends Anderson and Lorenz were laboring on a different project — improving Ethereum development tools.
Now the three men are finally ready to take the covers off of the labor of love they’ve been working on and launch Forge Platform, a new toolkit for distributed applications.
Both Lorenz and Anderson were heavily involved in monetization at Snap, but over the past eight months the two had dabbled in building distributed apps — and realized that the toolkits that existed for Ethereum just weren’t on par with what’s available for traditional programming.
“I’ve been interested in Ethereum for about two years now and it was about six months ago that I started to really dig in,” says Lorenz. “We saw the opportunity to prop the ecosystem up and give better tools to developers and basically provide them with what they’re used to in analogous platforms.”
Ultimately Forge will bring a suite of products to market for distributed application developers, but for now the company is focused on a service to provide insight into the performance of smart contracts over the Ethereum network.
The first tool is designed to give distributed application developers detailed analysis of how their apps are performing across a variety of smart contracts.
“We wanted to pick a platform where the majority of developers are,” says Lorenz of the decision to work with Ethereum. “The others are really interesting projects but they were also where Ethereum was a few years ago.”
The Ethereum protocol has the most support and is making advances in its quest to improve scalability, according to Lorenz.
The company’s SDK will launch in a few months, and Forge in the process of staffing up, thanks to a $1 million seed investment from Manta Ray Ventures and Upfront Ventures.
“Over the course of the past few months we’ve had 15 companies playing with the product and jumping in and providing feedback,” says Lorenz. “We were really working on scalability testing.”
In what are still early days for blockchain-based protocols and applications, Lorenz says its important for a robust set of tools to come onto the market and help ease developers into the new computing paradigm.
“It’s ideally to make it more successful for developers to come in and offer value to customers outside of gambling,” says Lorenz of his new toolkit. “This year we’ll see a lot of interesting projects get launched.”
#aevlus #public #news #learn #express #expand #podaevlus #quantum-mind-game #freethoughtproject #think #freedom #blockchains #computing #cryptocurrencies #ethereum #go #james-borow #los-angeles #programming-languages #smart-contract #tc #upfront-ventures
Originally posted at: https://www.aevl.us/2019/02/13/former-snap-employees-are-launching-forge-platform-for-ethereum-devs/
Jason Rowley Contributor
Jason Rowley is a venture capital and technology reporter for Crunchbase News.
More posts by this contributor- Following a record year, Illinois startups kick off 2019 on a strong foot
- Global VC market sees highest-ever concentration of supergiant dollar volume in Q4 2018
Early-stage startups throughout much of the U.S. are able to raise larger sums today than any other point in at least a decade, and there are more early-stage rounds than ever, both in North America and globally. (Note: “Early-stage” is defined here as Series A and Series B rounds, plus smaller rounds from several other round types, including equity crowdfunding and convertible notes.)
In analysis published earlier this week, we found that the nationwide average early-stage deal grew more than 20 percent between 2017 and 2018. We quantified that companies on the coasts raise more than their inland counterparts and found some indications that the Midwest lags the rest of the nation.
To find this and more, we aggregated round size data for more than 30,000 early-stage venture rounds struck with U.S.-based companies between the start of 2008 and the end of 2018. We segmented the data by the U.S. Census Bureau’s map of regions and “divisions” (basically, subregions by a different label), took the mean (average) early-stage deal size for each calendar quarter and displayed each region against the national average.
Below, you can see how early-stage rounds around the country compare to the national average. To make it easier to see trends, we display a two-period simple moving average line alongside individual data points.
Although the average has certainly crept up, part of that is attributable to a newer trend in companies raising huge sums of money. In the report, we indicated that many of the largest early-stage rounds were raised by companies in the West and Northeast. But startups in these regions don’t hold a monopoly on raising lots of money from venture capitalists.
Here, we wanted to highlight some of the biggest early-stage rounds struck by Midwestern and Southern companies. After all, the coasts tend to dominate the media’s conversation concerning tech. So, here’s some love for the middle of the country, and its biggest deals:
The five biggest early-stage VC rounds raised by Southern startups in 2018 and January 2019
- Hailing from Atlanta, Knock, a company aiming to help homeowners streamline the process of trading up for a new house, raised $400 million in Series B funding in a deal announced on January 15, 2019. Crunchbase News covered the transaction, which was led by Foundry Group and was composed of an undisclosed blend of equity and debt.
- Viela Bio, based in Gaithersburg, Maryland (which, by the Census Bureau’s definition, is in the South), is a clinical-stage therapeutics company developing novel molecules for treating severe inflammation and autoimmune disorders. The company announced $282.2 million in Series A venture funding in February 2018. Viela Bio was spun out of biopharmaceutical conglomerate AstraZeneca.
- Another company entering the home-flipping market is Austin-based Bungalo, which announced $250 million in Series A funding back in September 2018. Austin-based financial services company Amherst Holdings and its real estate investment subsidiary were the sole sources of capital on the deal.
- Another Atlanta company, Bakkt, raised $182.5 million in a Series A round announced on December 31, 2018. A number of blockchain-focused investors participated in the round, alongside Microsoft’s early-stage VC arm M12 and the Boston Consulting Group.
- Crunchbase News broke the story of Raleigh, NC-based gene editing company Precision BioSciences’s $110 million Series B round based on an SEC filing spotted back in June 2018. The company formally announced the round several weeks after the initial filing. The round was led by ArrowMark Partners, which was joined by nearly two dozen other new and prior investors that participated in the round.
The five biggest early-stage VC rounds raised by Midwestern startups in 2018 and January 2019
- Bind, a Minneapolis-based “on-demand” health insurance company, raised $60 million in a Series A round in February 2018. The company offers a core plan to cover the basics, plus the option to purchase coverage for, say, a surgery, only when that coverage is needed.
- Sollis Therapeutics, based in Columbus, Ohio, is developing non-opioid pain treatments. The pharmaceutical company raised $50 million in a Series A round announced in April 2018. Opioid overdoses killed 200 Americans per day in 2017. With nearly 33 deaths for every 100,000 people, Ohio is one of the states worst-affected by the surge in opioid abuse.
- Detroit-based sneaker and streetwear marketplace company StockX copped $44 million in Series B funding back in September 2018. Battery Ventures and GV co-led the round.
- Clearcover, a Chicago-based auto insurance marketplace platform, raised $43 million in a Series B round. Crunchbase News covered the transaction, which was led by Cox Enterprises. Local firm Lightbank and angel ring Hyde Park Angels participated in the round.
- TradingView, also based in Chicago, raised $37 million in Series B funding announced in May 2018. The company builds data analysis and social networking tools for financial market participants.
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Originally posted at: https://www.aevl.us/2019/02/03/coastal-startups-dont-have-a-monopoly-on-raising-big-at-early-stage/