Hello, I’m looking for help to scale my tiny business into a small one. I was able to bootstrap to start a tiny business since I escaped my family at 18 when my dad tried to marry me to a man in his 40s and I have since not returned ever since despite how hard things are getting for me for fear of being honor killed by my father and his brothers. since my exile and although I am able to survive and take care of my basic needs from my current profit, I still cannot save enough to exit my this country and I don’t believe I’m far away as I want from my abusive family.
I’d be able to pay back with interest if possible. It’s been very difficult as an under-serviced person in a 3rd world country to get a loan without a collateral of a car or property, even when I have the potential to pay back.
I’d appreciate whatever support you can render me and my business. I’m not scam so I am open to being vetted by you or anyone you wish thank you
Today Mosa Meat, the European food technology company that introduced the world’s first cultivated beef hamburger in 2013, announced the third and last closing of its Series B funding. Founded in 2015, Mosa Meat produces slaughter-free hamburgers. The burger is harvested from cow cells, rather than raising and slaughtering a whole animal. By growing meat…
The post Dutch startup Mosa Meat nabs €69.6 million to scale up its cultivated beef production first appeared on EU-Startups.
Orka Technology Group is a worker tech startup that provides solutions that help hourly workers with sourcing, on-boarding and getting paid for work. In a recent development, this Manchester-based startup has announced that it has raised £29M (€33.5M nearly) in its latest funding round.
Raised a total of €36.4M
This latest round was a mixture of debt financing from Sonovate and equity funding involving the British Business Bank Future Fund and existing investors, including former UK CEO of Adecco Peter Searle. Since its inception in 2017, the company has raised a total of £31.5M (approx €36.4M), including this recent round.
According to the company, this capital will be used to fuel the rapid growth of its earned wage access product, Orka Pay. Furthermore, it will also deploy this funding to double its headcount to 50 in 2021 and invest in its full portfolio of tech solutions for shift workers, which also includes the company’s flagship product, labour-as-a-service platform Orka Works.
The rise of flexibility
With the future of work largely revolving around flexibility due to the pandemic, HR startups around the world are trying to capitalise on this new normal. Orka too is treading a similar path as it believes it can cater to the shift towards flexible employment taking place across many industries. With Orka Pay, the company aims to capitalise on the growing demand among businesses and workers for flexible pay options.
“Launched last year, Orka Pay enables shift workers at partner organisations to withdraw up to 50 per cent of their wages as soon as they have earned them, providing an alternative to high-interest loans and credit card debt,” mentions the company in its press release.
Tom Pickersgill, co-founder and CEO of Orka, says, “Four years ago we set out to transform the experience of hourly-paid workers, who make up 85% of the global workforce. What we’re doing is unique in this sector, and thanks to this funding, we’ll be able to reach many more businesses and their employees in the coming year – and improve the service that we can offer them.
Orka builds products designed specifically for hourly workers, in order to solve challenges around high-turnover, high-volumes and high-velocity employment within traditional industries, such as security, cleaning, and other service industries.
The company claims that the current hourly-worker solutions are broken and not aligned with today’s job seeker. “Traditional players haven’t really changed how they behave in many years, but with rising use of technology, how people want to work and find that work has significantly changed,” Orka mentions on its website.
It has three products – Orka Works, Orka Pay, and Orka Check. The company’s first product, Orka Works (formerly Broadstone), allows workers to find fair and flexible temporary employment with large organisations working in traditional, regulated industries such as security, cleaning and logistics.
According to the company, Orka Works is used by over 50,000 people in the UK to find work, and it witnessed 150 per cent year-on-year revenue growth in Q3 of last year and counts G4S and ISS among its growing client base. This year, the company will launch its third core product, Orka Check, to improve the process for worker background checks.
“Studies have shown that women play a central role in bringing change and working towards a more equal society. We also see this in our daily work. In the many years of Bayer Foundation’s activities, the positive impact of strong women has been a central theme. They are the change-makers we need. As a basic principle for our activities, we, therefore, have chosen to strengthen and highlight the role of women as leaders in science and as entrepreneurs,” states Monika Lessl, Executive Director of Bayer Foundation.
The Bayer Foundation sees itself as a promoter of innovation and a pioneering spirit at the interface between industry, academia, and civil society. Its objectives include catalyzing the development of breakthroughs in the life sciences and empowering and enabling communities to thrive with social innovation. The Foundation recognizes outstanding achievements in research, education, and entrepreneurship.
The Big Vision: Health for All, Hunger for None
Through supporting female entrepreneurs with groundbreaking ideas, Bayer Foundation specifically recognizes and celebrates their role as game changers driving sustainability and social impact through entrepreneurial innovation.
By supporting social enterprises, Bayer Foundation has built a network of partners that help reach its vision of ‘Health for All, Hunger for None.’ Via this ecosystem, Bayer Foundation addresses some of the world’s most pressing challenges related to health and food insecurity, which affect millions of smallholder families across Sub-Saharan Africa. As a result, Bayer Foundation also works towards reaching the Sustainable Development Goals (SDGs) of the United Nations, especially zero hunger (#SDG 2) and good health and well-being (#SDG 3) by addressing these challenges.
How the Bayer Foundation Effectively Supports Your Social Enterprise
Through the Women Empowerment Award, Bayer Foundation offers five women a partnership that goes far beyond a one-off cash prize. Winning the award will give you:
- 25,000 EUR in cash
- In-kind contribution that equals 25,000 EUR in the form of a 24-week growth accelerator
- Tailored support
- Training for scaling
- Active investor feedback
- An extensive network of Bayer experts who offer coaching in health and nutrition as well as sustainable agriculture-related focus areas
Last but not least, all five winners become part of Bayer Foundation’s exceptional global alumni and partner network, which offers the opportunity to raise capital and exchange knowledge about the experience gained.
Who can Apply for the Women Empowerment Award
Until 28th February 2021 female entrepreneurs in leadership positions in Sub-Saharan Africa are invited to apply for the women empowerment award. Five entrepreneurs with solutions for health, nutrition, and sustainable agriculture-related challenges will be honored with the award. They will be announced at the end of April and officially awarded in a ceremony in May.
Collaborating with the Bayer Foundation brings Significant Progress
Bayer Foundation has a strong track record of supporting female-led social enterprises. One example includes the Kenyan InsurTech startup Pula. Led by Co-CEO Rose Goslinga, Pula bundles insurance products with farm inputs, such as fertilizer, seeds, or credit. This substantially lowers risks for farmers across Sub-Saharan Africa who want to invest in more expensive, higher-yielding inputs. The insurance provides income stability for farmers who are at the mercy of droughts, floods, and pests.
Female leader Rose Goslinga values this collaboration immensely: “Bayer Foundation brings insights and visibility to our work. To make significant progress towards the SDG on combating hunger, we all need to get smarter about how to engage with smallholder farmers and Bayer Foundation and MercyCorps are great partners to learn with and help share those learnings with the broader ecosystem.”
Apply by 28th February
To win the Women Empowerment Award including 25,000 EUR, participation in a 24-week growth accelerator plus a long-term partnership, apply now!
Sharing is caring!
The post Apply for Bayer Foundation’s Women Empowerment Award to Scale Your Social Impact Startup! appeared first on StartUs Magazine.
London-based Ai Build, a company developing Artificial Intelligence (AI) and Robotic technologies for large scale Additive Manufacturing, has raised $ 1M (approx €829K) in a fresh round of funding led by SuperSeed.
The term “additive manufacturing” references technologies that grow 3D objects one superfine layer at a time. Each successive layer bonds to the preceding layer of melted or partially melted material. Objects are digitally defined by computer-aided-design (CAD) software that is used to create.
Investors in the round
SuperSeed, that led the round is a London-based VC that specialises in business automation and industry 4.0 investments. Industry 4.0 is the current trend of automation and data exchange in manufacturing technologies. It includes cyber-physical systems, the Internet of things, and cloud computing.
In addition, the round also saw participation from William Tunstall-Pedoe, the British entrepreneur who was one of the inventors behind Amazon’s voice assistant, Alexa.
Daghan Cam, co-founder & CEO of Ai Build says, “Even though 3D printing has come a long way, it is still extremely difficult to produce large, complex parts with the consistency required by the manufacturing industry. At present, parts that only take a few hours of printing time, take manufacturers weeks or months to prepare. Lack of automation is the barrier. To solve this problem, we use smart algorithms and data for maximum efficiency, reliability and scalability. We are very excited and humbled to be backed by investors who share our vision to create the factories of the future.”
Use of the funds
The company is looking to invest the funding to accelerate the commercialisation of its technology to bring it to more global tier 1 manufacturers operating in the aerospace and automotive space.
What does “Ai Build” build?
The company was founded in 2015 by Daghan Cam and Michail Desyllas, two architects with background in computational geometry and robotics. Their startup, Ai Build, is a company providing a cloud platform (AiSync) as a service to automate the labour intensive Additive Manufacturing process by autonomous robotic path planning and computer vision.
Since the launch of its software in 2020, Ai Build’s technology has been adopted by manufacturers in the automotive, aerospace and defence industries. This helps the sectors to reduce costs, material waste, and lead times on their large scale 3D printed parts such as composite tooling.
The company’s initial customers include some of the largest automotive brands and Formula 1 teams. Ai Build was also recently selected to participate in the prestigious ATI Boeing Accelerator, and has started working with GKN Aerospace and Rolls-Royce alongside Boeing.
The platform has also signed partnerships with machine manufacturers including Kuka and Weber Additive to make AiSync the default Operating System (OS) for large-scale industrial 3D printing. According to Ai Build’s customers, the solution has helped them achieve a 90 per cent reduction in labour costs and a 70 per cent reduction in failed print attempts.
Mads Jensen, Managing Partner at SuperSeed, says, “Additive Manufacturing has the potential to change how things are made, and as the technology matures, there is an ever-growing demand for automating and optimising the process.”
In the early days of my startup journey after we established and got a few customers, I was always trying to find different ways to grow it.
Scalability is probably one of the biggest problems startups have to face and that’s why a lot of them shut down.
In order to make your startup grow, you need to make sure you have the right resources by your side like people, systems, mindset, etc.
However, you should keep in mind that not every startup it’s meant to make it big. Of course, you would say sure but that’s not mine, mine will make it. Don’t be stupid.
So, for this to happen you should be prepared, make sure you’re on the right track, the business is in the right phase and the people have embraced that mindset.
Here are my tips on how you can prepare:
- Before you started, you should make your fundamentals as strong as possible, this means that your product/service reaches market fit and you can make small but significant improvements based on the feedback and user data from your customers.
- Next, you should define the largest core customers– these are the ones that not only spent the most but also are the engine for your business, the largest part of your revenue comes from their spending.
- Discover marketing channels with the biggest ROI potential and start testing them with a small budget.
- Make sure you have the funds you need to scale. Don’t run out of money when you’re planning to scale your business.
Something else you should pay attention to is automation. Automate everything you can from setting up cloud storage and organization, training processes of new hires, marketing automation, payroll for rapid processing, etc.
This may take a long time in the beginning but it will pay off at the end, since you’ll be able to access data faster, hire faster, market better, and pay easier.
You’re in a marathon, but it includes many sprints. Start winning the little races and you’ll create momentum! —Grand Cordone
When it comes to marketing, it’s definitely something that you should spend extra time and effort on. Because the business can’t scale if nobody knows about it.
Define what marketing channels and tactics work for your business at which of them will provide scalability.
Experts say that word-of-mouth and direct marketing don’t provide scalability like content marketing.
Content marketing has viral potential and that’s the reason why most startups choose it as a grow-hack method. Another thing startups can do is outsourcing.
Nowadays big companies tend to do this as well, but startups are leaner to it since they can’t afford a lot of services to be “in-house” like corporates. Lawyers, graphic designers, developers, etc, don't have to be in-house.
Keep an eye on social media. Every startup especially the ones that are new on the market, is watched and examined by the world.
Maybe you don’t have the power like a big corporation to influence the social media presence, but with the right content showing to the right audience, you can provide not only growing but also surviving to your business
I’ve recently come across this sentence “ If you really want your business to be scalable, it must run fine by itself.”
If your business runs fine by itself that means it's growing, be happy. That’s all folks, roast me in the comments and give me a few insights on how you grew your startup.
Berlin-based fintech startup Banxware has raised €4M in its Seed round of funding led by venture capital firms Force over Mass and VR Ventures. This is the first external capital the fintech has raised.
Other investors in this round
Additionally, several fintech pioneers from the payments and SME lending space have also joined the initiative. These include HTGF – a public-private venture capital investment firm based in Bonn, JanKaniess and Carl Frederic Zitscher, the founders of Payone, Alex Urdea, Principalat Upper90, a New York City-based debt and equity fund, as well as PaulaBlazquez Solano, Principal at Innocells, the venture arm of Banco Sabadell in Spain.
Use of the funds
The company will use the capital to develop and grow its embedded white label financial services offering and its team, as well as expand sales to digital platforms across Europe.
Banxware will soon offer card-based products and other financial services, complementing its existing lending solution to business customers of platforms.
The company was founded in September 2020 by Miriam Wohlfarth, Jens Röhrborn, Fabian Heiß, and Nicolas Kipp. Banxware is a software provider for Embedded Financial Services that enables digital platforms such as marketplaces, payments providers, and other aggregators to offer white label financial products, especially loans to merchants.
According to the company, the future of banking is embedded: Embedded Financial Services bridges the gap between traditional banks and modern tech-driven platforms. Banxware’s technology enables any company to offer loans and other banking services to SME customers.
Thus, Banxware creates the link between banks, digital platforms, and merchants and enables all parties to benefit from open banking:
- For banks, the company provides access to a new target audience as well as an accelerated, digitalised risk assessment to digitise their loan origination.
- For platforms, it helps in upselling their current offering to merchants with financial products to strengthen both customer retention and their own competitive position in the market without disruption of their platform UX.
- Merchants can benefit from the fully-digital credit approval process that allows them to get access to financing within 15 minutes, claims the company.
By offering such services, the company expects a rise in demand for embedded financial services from platforms of all sizes and industries as well as big tech incumbents that want to become the centre of their customers’ business.
With respect to other financial solutions in the market, Banxware differentiates itself by its fully digital, embedded approach.
In December 2020, Banxware launched its first embedded product, a white label SME lending solution that is fully integrated into the platform and allows to offer cash-advance loans based on future revenues to their merchants.
The credit decision happens in real-time and pay-out happens immediately. For this product, Banxware secured a first €100M loan facility from Vereinigte Volksbank Raiffeisenbank eG.
Miriam Wohlfarth, founder of Banxware says, “While traditional bank loans take up to three months and even the most innovative product-based finance up to five days, we were able to drastically reduce this time thanks to newest technologies and artificial intelligence. With us, platforms can offer loans, and within 15 minutes, the customer has the money in the bank. This is a new record time which does not exist in the market so far.”