Green Labs, a Seoul-based agritech startup, has secured $38.4 million (50 billion won) in debt financing from existing investors BRV Capital Management and Skylake Incuvest. The new funding comes just a month after the startup laid off around 70% of its workforce, or 350 people, in February as part of a restructuring, Green Labs CEO Sanghoon Shin said […]
It’s estimated that about a third of all food produced worldwide every year, which is approximately 1.3 billion tons, is estimated to be wasted. Aravita, a Brazilian artificial intelligence startup, thinks that supermarkets are the best place to start fixing this problem. Marco Perlman, co-founder and CEO, started the company with Aline Azevedo and Bruno […]
Investors just pumped millions into Irrigreen, a startup vying to quench America’s thirsty lawns with “approximately 50% less water.” Seed investor Ulu led the $15 million funding round. Two tech investors that are focused on water conservation — Burnt Island and Echo River — also chipped in, among a handful of others. The San Francisco–based […]
Sam Parr, founder of HubSpot-acquired newsletter and media brand The Hustle, doesn’t watch “Succession” because “it’s too real” (and because he prefers watching comedy compared to behemoth business billionaires fighting). But when he announced his new project, Hampton, an invite-only club for chief executive officers, the references started rolling. It’s specifically one Succession quote that […]
To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Hello, and welcome to Wednesday Crunch! On everyone’s mind today is the power of AI and whether we’re all doomed. Connie reports that 1,100+ notable signatories just signed an open letter asking […]
With a drier than normal investment scene, founders are looking for more effective ways to reach the right VCs. Toward that end, over the past few weeks, thousands of founders have applied to land capital through a common app, but instead of hoping to land into a university, they’re hoping to land capital from top […]
Gutter Capital, a New York venture capital firm, closed on $25 million in capital commitments for its first fund to invest in pre-seed and seed stage companies focused on affordability, economic mobility and climate change. Founding partners Dan Teran and James Gettinger met while students at Johns Hopkins University. Prior to starting Gutter Capital, Teran […]
When Silicon Valley Bank collapsed earlier this month, venture had already been navigating choppy waters for over a year as it confronted overinflated company valuations and a seemingly nonexistent exit market. But while SVB’s failure may have a long-lasting impact on the banking and venture debt industries, it doesn’t look likely to have any lasting […]
A consortium led by Lifelong Group has acquired distressed firm GoMechanic, months after the Sequoia India-backed startup admitted “grave errors” in financial reporting. The New Delhi-headquartered Lifelong Group, which serves several major players in the automotive industry including Hero and General Motors, said it won the auction to acquire GoMechanic, whose investors scrambled to sell […]
Yesterday, the ride-sharing company Lyft said its two co-founders, John Zimmer and Logan Green, are stepping down from managing the company’s day-to-day operations, though they are retaining their board seats. According to a related regulatory filing, they actually need to hang around as “service providers” to receive their original equity award agreements. (If Lyft is sold […]