Stripe Acquires Nigeria’s Paystack For $200 Million For Expansion Across The Continent – Black Enterprise

Stripe Acquires Nigeria’s Paystack For $ 200 Million For Expansion Across The Continent  Black Enterprise
“nigeria startups when:7d” – Google News

Thailand’s logistics startup Flash Express raises $200 million

Flash Express, a two-year-old logistics startup that works with e-commerce firms in Thailand, said on Monday it has raised $ 200 million in a new financing round as it looks to double down on a rapidly growing market spurred by demand due to the coronavirus pandemic.

The funding, a Series D, was led by PTT Oil and Retail Business Public Company Limited, the marquee oil and retail businesses of Thai conglomerate PTT. Durbell and Krungsri Finnovate, two other top conglomerates in the Southeast Asian country, also participated in the round, which brings Flash Express’ to-date raise to about $ 400 million.

Flash Express, which operates door-to-door pickup and delivery service, claims to be the second largest private player to operate in this space. The startup, which also counts Alibaba as an investor, entered the market with delivery fees as low as 60 cents per parcel, a move that allowed it to quickly win a significant market share.

The startup has also expanded aggressively in the past year. Flash Express had about 1,100 delivery points during this time last year. Now it has more than 5,000, exceeding those of 138-year-old Thailand Post.

Flash Express currently delivers more than 1 million parcels a day, up from about 50,000 during the same time last year. The startup says it has also invested heavily in technology that has enabled it to handle over 100,000 parcels in a minute by fully automated sorting systems.

Komsan Lee, CEO of Flash Express, said the startup plans to deploy the fresh funds to introduce new services and expand to other Southeast Asian markets (names of which he did not identify). “We are also prepared to create and develop new technologies to achieve even greater delivery and logistics efficiency. More importantly we intend to assist SMEs in lowering their investment costs which we believe will provide long-term benefit for the overall Thai economy in the digital era,” he said.

Retail Business Public Company Limited plans to leverage Flash Express’ logistics network as it looks to meet the rising demand from consumers, said Rajsuda Rangsiyakull, senior executive vice president for Corporate Strategy, Innovation and Sustainability at Retail Business Public Company Limited.

Flash Express competes with Best Express — which, like Flash, is also backed by Alibaba — and Kerry Express, which filed for an initial public offering in late August.

Even as online shopping and delivery has accelerated in recent months, some estimates suggest that the overall logistics market in Thailand will see its first contraction in the history this year. Chumpol Saichuer, president of the Thai Transportation and Logistics Association, said last month Thailand’s logistics business has already been hit hard by the slowing global economy.

Startups – TechCrunch

Impossible Foods gobbles up another $200 million

Impossible Foods has raised $ 200 million more for its meat replacements.

The new round values the company at a Whopper-sized $ 4 billion valuation, according to the data tracker PrimeUnicorn Index.

The new round was led by Coatue, a technology-focused hedge fund; another New York-based hedge fund, XN, also participated in the round.

Since its launch the company has raised $ 1.5 billion from investors, including Mirae Asset Global Investments and Temasek. The presence of these new public/private investment firms on Impossible Foods’ cap table could mean that the company is readying itself for an initial public offering, but that’s just speculation.

Impossible previously raised money from investment firms including Horizon Ventures and Khosla Ventures, as well as some of the biggest celebrities in the U.S., like: Jay Brown, Common, Kirk Cousins, Paul George, Peter Jackson, Jay-Z, Mindy Kaling, Trevor Noah, Alexis Ohanian, Kal Penn, Katy Perry, Questlove, Ruby Rose, Phil Rosenthal, Jaden Smith, Serena Williams, will.i.am and Zedd.

The most recent price per share is $ 16.15, an up round from Series F at $ 15.4139, according to PrimeUnicorn.

The company said it would use the funding to increase its research and development efforts and work on new products like pork, steak and milk, as well as expand its internationalization efforts and build out its manufacturing capacity.

“The use of animals to make food is the most destructive technology on Earth, a leading driver of climate change and the primary cause of a catastrophic global collapse of wildlife populations and biodiversity,” said the incredibly credentialed Dr. Patrick O. Brown, MD, PhD, CEO and founder of Impossible Foods, in a statement. “Impossible Foods’ mission is to replace that archaic system by making the most delicious, nutritious and sustainable meats in the world, directly from plants. To do that, Impossible Foods needs to sustain our exponential growth in production and sales, and invest significantly in R&D. Our investors believe in our mission to transform the global food system — and they recognize an extraordinary economic opportunity.”

Startups – TechCrunch

[Ro in Silicon Republic] Digital elective care and telemedicine provider Ro raises $200 million at a reported $1.5 billion valuation

New York-based start-up Ro has raised $ 200m for its telehealth platform and new online pharmacy business.

Read more here.

The post [Ro in Silicon Republic] Digital elective care and telemedicine provider Ro raises $ 200 million at a reported $ 1.5 billion valuation appeared first on OurCrowd Blog.

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[Ro in TechCrunch] Digital elective care and telemedicine provider Ro raises $200 million at a reported $1.5 billion valuation

In three years Zachariah Reitano’s startup, Ro,  has managed to hit a reported $ 1.5 billion valuation for its transformation from a company focused on treating erectile dysfunction to a telemedicine service for a range of elective and urgent care-focused treatments.

Read more here.

The post [Ro in TechCrunch] Digital elective care and telemedicine provider Ro raises $ 200 million at a reported $ 1.5 billion valuation appeared first on OurCrowd Blog.

OurCrowd Blog

Digital elective care and telemedicine provider Ro raises $200 million at a reported $1.5 billion valuation

In three years Zachariah Reitano’s startup, Ro, has managed to hit a reported $ 1.5 billion valuation for its transformation from a company focused on treating erectile dysfunction to a telemedicine service for a range of elective and urgent care-focused treatments.

Through Rory for women’s health, Roman for men’s health and Zero for smoking cessation, Reitano and fellow co-founders Saman Rahmanian, and Rob Schutz, built a company that now treats 20 conditions, including sexual health, weight loss, dermatology, allergies and more, according to a statement from the company.

Image Credit: Zero

Ro also has a new pharmacy business, Ro Pharmacy, which is an online cash pay pharmacy offering more than 500 generic medications for just $ 5 per month per drug. And the company is getting into the weight loss business through a partnership with the private equity-backed healthcare company, Gelesis.

Ro’s also becoming a gateway into patient acquisition for primary care providers through Ribbon Health, and a test-case for the use of Pfizer’s Greenstone service, which provides certification that a generic drug is validated by one of the major pharmaceuticals.

The company’s $ 1.5 billion valuation is courtesy of a new $ 200 million investment from existing investors led by General Catalyst and including FirstMark Capital, Torch, SignalFire, TQ Ventures, Initialized Capital, 3L and BoxGroup. New first-time investor The Chernin Group also participated. In all, Ro has raised $ 376 million since it launched in 2017.

“This new investment will further our mission to become every patient’s first call. We’ll continue to invest in our vertically-integrated healthcare ecosystem, from our Collaborative Care Center to our national pharmacy operating system. This is just the beginning of Ro’s patient-centered healthcare platform.” 

It’s all part of the company’s mission to provide a point of entry into the healthcare system independent of insurance qualifications.

“Telehealth companies like Ro are using technology to address long-standing healthcare disparities that have been exacerbated by COVID-19,” said Dr. Joycelyn Elders, MD, Ro Medical Advisor and Former U.S. Surgeon General. “By empowering providers to leverage their skills as efficiently and effectively as possible, Ro delivers affordable, high-quality care regardless of a patient’s location, insurance status, or physical access to physicians and pharmacies.”

Ro’s new financing is one of several forays by tech investors into reshaping the healthcare system at a time when patient care has been severely disrupted by attempts to mitigate the spread of COVID-19.

Digital medicine is assuming a central position in the healthcare world, with most consultations now occurring online. Reimbursement schemes for telemedicine have changed dramatically and investors see an opportunity to capitalize on these changes by aggressively backing the expansion plans of companies looking to bring digital healthcare directly to consumers.

That’s one of the reasons why Ro’s major competitor, Hims, is reported to be seeking access to public markets through its sale to a special purpose acquisition company for roughly $ 1 billion, according to Reuters.

Startups – TechCrunch