News compilation from startup world :
US cybersecurity startup StackPath raised $150 million in fresh funding
Texas-based StackPath has raised $150 million in fresh funding from private equity firm ABRY Partners, the CEO of the cybersecurity startup said on Monday, in what is among the largest single financing rounds for a private cybersecurity firm. Chief executive officer Lance Crosby told Reuters StackPath is a security platform that houses a suite of services to tackle a spectrum of cyber threats. The company has spent “tens of millions of dollars” to acquire several companies that provide different types of cloud security services for businesses, Crosby said.
Startup Victoria appoints single serve wine entrepreneur Georgia Beattie as CEO
One of the country’s largest entrepreneurship group’s, Startup Victoria, has appointed Lupé Wines and Single Serve Packaging founder Georgia Beattie to the role of chief executive, as it prepares to enter a new growth phase. Ms Beattie, who exited her wine packaging business earlier this year after splitting the assets and IP for the firm and selling the assets to an international wine company, wants to help Victoria become a “world class” destination for start-ups.
Juhuasuan, IngDan to aid IoT development in HK
Alibaba Group’s digital marketing and flash sales platform Juhuasuan has teamed up with IngDan, a subsidiary of Cogobuy Group, to accelerate the development of the IoT industry in Hong Kong. The two companies said they will be providing local smart device startups with online and offline sales and marketing support. For a start, 20 innovative and intelligent technology products developed by entrepreneurs and designers from Hong Kong and Taiwan have been selected and were offered online last month on Juhuasuan. On opening day alone, the event attracted over a million online visitors. Among the products on display were a smart digital scale, which achieved daily sales of approximately 8,000 units, while sales of an electric screwdriver totalled approximately 1,000 units. Several automated drones and robots developed by local designers and startups were also showcased. Over 50 intelligent hardware products have been presented at both the Gala Event Global – Shenzhen and the Gala Event Global – Hong Kong.
Singapore media platform e27 seals $2.2m Series A, to explore China tie-ups
Integrated platform for entrepreneurs, e27 Thursday said it had raised S$3 million ($2.2 million) in a Series A funding round led by Beijing-headquartered TechTemple Group. The others investors in the round include China’s data intelligence fund Linear Venture, Indonesia’s Convergence Ventures, as well as Singapore-based Venturecraft and Spacemob. e27, whose media platform is a direct competitor to DEALSTREETASIA, said the round also had two angel investors – serial entrepreneur Douglas Khoo, co-founder of Qunar (which was invested in by Baidu for $306 million) and Turochas Fuad, chief executive officer and founder of Spacemob. Earlier in February, e27 had undergone a restructuring exercise, trimming its team by more than 50 per cent. e27 said the funding sourced from investors in Singapore, China, Indonesia and Malaysia, allows the company to leverage strategic connections to benefit entrepreneurs across Southeast Asia with broadened knowledge resources and an expanded database of funding opportunities, whether it is to enter new markets, receive funding, or explore strategic partnerships with China.
Brexit: The dilemma facing UK tech startups
Much has been said in the aftermath of the UK’s referendum on EU membership about the potential impact of the outcome in favour of ‘Leave’ on the technology startup scene in the UK. In particular, there has been speculation that the ramifications of the UK’s putative exit from the EU might constitute a substantive threat to London’s position as the pre-eminent technology startup hub in Europe, with cities such as Berlin, Amsterdam, Stockholm, and Tel Aviv all potentially vying to take up that mantle.Indeed, the Dublin commissioner for startups, Niamh Bushnell, circulated an email shortly after the announcement of the outcome of the referendum extolling the “new opportunity to attract Europe’s serial or first-time entrepreneurs to set up shop” in the city, already home to the European headquarters of the likes of Twitter, Airbnb, and Slack.
Houston named No. 10 best city for tech startups
A recent study by Sungard Availability Services ranked Houston the No. 10 best city for tech startups in the country. The study focused on how each ranked city offers the best environment for tech startups. For Houston, the average office price/sq. ft., population, bachelor’s degree, and startup density landed this city on the top 10 list. According to Sungard AS, Houston offers the best value in the U.S. for office price/sq. ft., with an average total of $131.57. The affordable price is convenient for the amount of people in this metro area. Landing at the densest population on the list, Houston has a huge local market consisting of 2,196,000 people. Despite the large population, only 30.4 percent of Houston residents have Bachelor’s degrees. That is a setback for those looking to meet a specific education level in new recruits. Also, the Houston area does not inhabit many new startup companies – according to the study, its low density of 136.9 would not be an obstacle. In fact, the limited competition could be beneficial if someone was looking to start-up their own business.
Showcase your African tech startup at CES 2017
The Consumer Electronics Show (CES), which takes place each year in Las Vegas, is this year offering African startups the opportunity to showcase their products and solutions at the new Africa Tech Now Village. Next year’s CES will feature Africa Tech Now, an event showcasing the African tech ecosystem, organised by International Boost and Djouman. There will also be an Africa Tech Now Village, offering promising African startups the chance to demonstrate their innovations during the show. “Being the world’s largest tech event, CES is an incredible place to get exclusive access to investors, buyers, clients and business partners,” the organisers said. Applications are open until August 31 to showcase, with selected startups to exhibit their tech innovations in Las Vegas and get international exposure. The applications will be reviewed by a panel of international experts, who will select the 10 best startups at the end of September.
OTA’s Orrett Davis resigns, will work with local AI-based startup
Orlando Tech Association executive director Orrett Davis has resigned to pursue work with a local tech company that works in artificial intelligence. “At my core I’m a starter, and I’ve always known that one day I would get back in the ring working with an early-stage tech company,” Davis said in a blog posted on OTA’s website. Davis will remain a board member with the organisation and said he will have a hand in finding his successor. The 29-year-old Orlando resident helped Orlando Tech Association grow from a loosely organized group into a formal organisation that advocates for Orlando’s technology community.
Content creation for brands becomes a big hit with virtual reality startups
Virtual reality tech startups are increasingly eyeing content production for a diverse range of brands from banks to films, especially with 360-degree VR videos becoming increasingly popular among Indian brands over the last year, reports Shashwati Shankar. Players from varied sectors from content-focused Meraki and SpectraVr to pure hardware and software players like Tesseract and Absentia are focusing on building content production or aggregation services as brand interest in integrating VR tech picks up. “One year ago the VR content was minimal, cost of production was high, distribution models were unclear, getting into this space was dangerous but now brands are increasingly looking at integrating VR, viewing it as a novel concept,” said Sushant Baliga, founder of SpectraVR. The startup which was recently funded by US venture capital firm Rothenberg Ventures, concentrates on filmmaking-oriented VR content for brands brands ranging from Kingfisher to automobile clients like Mercedes Benz and Maruti Suzuki.