VertoFX raises $2M for its African and EM currency trading platform

VertoFX, an Africa and emerging markets-focused currency trading and payment startup, has raised a $2.1 million seed round, led by Accelerated Digital Ventures. The London-based company, with a subsidiary in Lagos, Nigeria, has created a platform that allows businesses and banks to exchange and make payments in exotic foreign currencies that don’t often convert or […]

Hardware startups take center stage for Hardware Battlefield at TC Shenzhen

Software grabs so much attention that it even has its own catchphrase — there’s an app for that. It’s not a bad thing, but we know nothing happens without hardware. That’s why we’re hunting for the best early-stage hardware startups to take center stage at Hardware Battlefield at TC Shenzhen on November 11-12 in China. Apply […]

How US national security agencies hold the internet hostage

Three of Google’s planned submarine cables are on indefinite hold while Team Telecom investigates Mark Harris 23 hours Team Telecom, a shadowy US national security unit tasked with protecting America’s telecommunications systems, is delaying plans by Google, Facebook and other tech companies for the next generation of international fiber optic cables. Team Telecom comprises representatives […]

InCountry raises $15M for its cloud-based private data storage-as-a-service solution

The rise of data breaches, along with an expanding raft of regulations (now numbering 80 different regional regimes, and growing) have thrust data protection — having legal and compliant ways of handling personal user information — to the top of the list of things that an organization needs to consider when building and operating their […]

Ebix to acquire Indian travel company Yatra for $337.8M

Atlanta-based software firm Ebix said today it is acquiring Indian online travel booking company Yatra through a merger deal at an enterprise value of $337.8 million as it looks to strengthen its position in India’s hotel and flight ticketing market. Once the acquisition has completed, Yatra will become part of Ebix’s EbixCash (the company’s Indian […]

India’s budget hotel startup Oyo enters co-working business with $30 million Innov8 acquisition

India’s Oyo has expanded its hotel chain business to over 80 countries and entered co-living spaces segment in recent years. The firm, which has raised about $1 billion since last September from several big names including Airbnb, has now identified a new business to target: co-working spaces. The Gurgaon-headquartered firm on Tuesday announced Oyo Workspaces that […]

Snap turns to search giant Baidu to court Chinese advertisers

Two years have passed since Snap Inc first struck a deal with Baidu that authorized China’s largest search engine to be a reseller of Snapchat ads for companies in Greater China as well as Japan and South Korea, where Baidu runs a portfolio of mobile apps. This week, the pair announced they have renewed the […]

Apple opens app design and development accelerator in China

Apple has opened a design and development accelerator in Shanghai — its first for China — to help local developers create better apps as the iPhone maker looks to scale its services business in one of its key overseas markets. At the accelerator, Apple has begun to hold regular lectures, seminars and networking sessions for […]

A91 Partners, a new VC fund from former Sequoia Capital India execs, closes $351M maiden fund

India’s growing number of startups now have one additional VC fund that will listen to their business ideas. A91 Partners, a new VC fund founded by former partners at Sequoia Capital India, has closed their maiden fund at $351 million. A91 Partners will focus on high-growth startups in consumer, technology, financial services and healthcare sectors in […]

Samsung backs Indus OS, three other startups in first investments for its VC arm in India

Samsung Venture, the investment arm of the South Korean technology giant, has invested $8.5 million in Indus OS and three other Indian startups as the company’s VC fund begins its journey in the country. Indus OS is a popular Android fork that has built a suite of localized applications focused on serving the masses in […]