🕶️ The TikTok ban debate: what it means for startups

Six bullets of updates

1. 🌎 Echo-browsing. Ecosia launches the greenest browser on Earth, powered by renewable energy, aiming to give Google Chrome and Safari a run for their market share.

2. 🫘 Helsinki-based Kaffa Roastery brews up an AI-conic blend, with bean selection and blend ratio determined by AI.

3. 👩🏿  Despite initiatives to support female founders, only 2% of venture funding goes to all-women teams. Time for a new approach?

4. 📱 Despite mixed reviews, Humane's Ai Pin, an "ambient computing" wearable device, aims to replace the smartphone.

5. 🏦 Banking-as-a-service startup Synapse files for bankruptcy, with assets being scooped up by SoftBank-backed TabaPay.

6. 🇮🇳 Piyush Gupta, a key player at Peak XV Partners, is leaving to launch his own secondary-focused VC fund.

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Should startups worry about the TikTok shutdown?

If TikTok faces a ban, users may switch to Instagram and YouTube, benefiting Meta and Google and reshaping social media for a generation. The House of Representatives is once again pushing for a ban, giving ByteDance nine months to sell TikTok or face expulsion from the US. The Senate is expected to review the package, with President Biden ready to sign. 

The company argues that the ban violates free speech rights. Concerns over the Chinese government's spying drive the ban attempt. For startup founders, it's vital to prioritize data privacy and national security, ensuring products align with regional laws and values.

That’s not it for small businesses, as the resistance against TikTok stirs worries about how it would change marketing and income generation if it’s banned. Read more.

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Startup Events and Deadlines

1. How to close a Funding Round (it’s not just the pitch deck) | Webinar | April 24 | Online

2. Monthly Startup, Tech & Business Networking San Francisco | Meetup | April 24 | San Francisco

3. Startups & Investors Networking SF | Meetup | April 24 | San Francisco

4. Tech Crunch Early Stage | Conference | April 25 | Boston   

5. Find a co-founder for your Tech Startup! | Meetup | April 26 | NY

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These companies just raised money

1. 🇹🇷 Turkish fintech startup Midas nets $45M for low-fee equities platform, boasting over 2M users, with plans to expand into crypto trading.

2. 💳 Automated finance startup Payflows nets $26M in Series A funding, preparing for a US Expansion.

3. 🚗 Brazilian startup Turbi reels another $8.5M to transform into a one-stop car shop, marking its second funding round in 2024.

4. 🧾 Colombian fintech OnePay bags $1.3M pre-seed fund to boost its payment integration platform on WhatsApp.

5. 🇲🇽 Mexican retail-tech startup Crezes lands $750K in pre-seed funding, leveraging AI to optimize retail location choices.

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Energy sector on the rise in the European VC Sector

In the first quarter of 2024, European venture capital investment reached $13.7 billion, driven by the energy transition and led by the energy sector. The notable 107% increase in startup funding in the Netherlands stood out.

The principal investments included Electra, H2 Green Steel, Deep Green, Sunfire, and ENVIRIA, with a strong focus on advanced and climate technology. Although the UK led in funds raised, London's figure decreased by 18%. This trend reflects a prosperous flow of startups with a promising future ahead, demonstrating the growing importance of the European VC sector.
Read more. 

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Love him or hate him: This is Elon Musk

Can we say that Elon Musk is transforming the world? If so, look at the story behind his wins and the mistakes that got him there. Don’t forget to subscribe!