‘AI-powered’ fitness app Freeletics scores $25M Series B

Freeletics, the “AI-powered” fitness coaching app, has closed $ 25 million in Series B funding. Leading the round is U.S.-based JAZZ Venture Partners and Causeway Media Partners, with support from KKCG.

The fresh injection of capital follows $ 45 million in Series A funding in late 2018. It will be used by the company to develop new tech, further expand globally and launch new business verticals.

Founded in 2013 and well-established in Europe, Freeletics has been steadily trying to conquer America since its Series A (the company was impressively bootstrapped until then). The Munich, Germany-founded company’s self-described mission is to “challenge and inspire people to become the greatest version of themselves, both mentally and physically.”

The Freeletics app offers AI-powered fitness and mindset coaching, and has 48 million users in more than 160 countries, claiming to be the No. 1 fitness app in Europe with more than 600,000 paid-for subscriptions. The “personal trainer in your pocket” aims to help you train anytime, anywhere, with personalised training plans and workouts. Its algorithms learn from the app’s millions of users and the individual feedback they provide, with the goal of developing “smart” training journeys uniquely designed to suit different users in different contexts.

“While a relatively new player in the U.S., Freeletics is a clear global leader in at-home fitness and we believe they are perfectly positioned to continue leading the fitness industry into the future post-COVID-19 in the U.S. market,” said John Spinale, managing partner at JAZZ Venture Partners. “In an ocean of unpersonalized fitness streaming concepts, they offer a sophisticated and adaptive personal coach for every aspect of performance and well-being — whether mental or physical. This is a promising indication of what is still to come.”

“We want to give anyone the right plan and guidance to reach their goals, on their terms, and ultimately lead to a long-term behavior change so they can continue leading that lifestyle for the rest of their lives,” Freeletics CEO Daniel Sobhani tells TechCrunch. “Not everything the fitness industry has been telling us for the last 30 years has been setting people up for success, so we want to put an end to that and be clear and honest about the work it takes to reach your goals, while making real, sustainable results accessible to as many people as possible. And those goals don’t have to be just losing weight. Whatever the finish line looks like, we want to get people there in the most efficient, sustainable and enjoyable way.

Sobhani says Freeletics’ AI provides “hyper-personalized” fitness coaching, paired with mindset training for a more holistic experience. “The AI-powered coach curates the workouts best suited to every single user, so that they are always super efficient and effective, making it easier to work towards your goal,” he explains. “We focus so much on personalization because, in the end, there is no one-size-fits-all solution when it comes to health and fitness. We then pair this technology with our efforts in the product to reduce the everyday hurdles people face when it comes to working out regularly — time, space, equipment, knowledge, money, confidence and so on.”

The idea is that Freeletics lets you work out on your own terms, in terms of how, when and where you want. For each day of your training plan, the AI coach can draw from 3.5 million options. So, for example, you may want a quiet workout plan without equipment that fits with your small city apartment and that won’t disturb the neighbours. Or one that only requires 15 minutes. Or perhaps you want to lift weights instead. Based on these and a plethora of other criteria, Freeletics promises to adapt to your needs accordingly.

“For the finishing touch, we combine this personalized training experience with the mental component — audio coaching, which aims to educate, motivate and bring more mindfulness to the whole experience,” adds Sobhani. “This mindset coaching builds the sustainable basis for our users to make life-long improvements to their lifestyles, aiming to help them build healthy habits and better understand their journey, all while putting more emphasis on mindfulness and meditation for better long-term results across the board.”

Meanwhile, Freeletics operates a classic freemium model. The app is free to download and use to a certain extent, but for more personal coaching you’ll need to pay for a subscription. This sees the company offer different options with combinations of training, nutrition and mindset coaching for different subscription periods, from one to 12 months.

“Users can get a digital personal coach for less than a cup of coffee a week, which is the more attractive option for most if you compare that with the cost of a personal trainer at the gym,” says the Freeletics CEO. “And on top of that, the app also works to remove any other financial hurdles associated with working out, like gym memberships, equipment, etc. Over the last year we have managed to double our paying subscriber base to over 600,000, which is a real industry benchmark if you look at similar companies.”

Startups – TechCrunch

Nomura SRI International Innovation Center (NSIC) Announced To Exclusively Service Corporate Japan – MarTech Series

Nomura SRI International Innovation Center (NSIC) Announced To Exclusively Service Corporate Japan  MarTech Series
“nigeria startups when:7d” – Google News

China’s electric carmaker WM Motor pulls in $1.47 billion Series D

Chinese electric vehicle startup WM Motor just pocketed an outsize investment to fuel growth in a competitive landscape increasingly coveted by foreign rival Tesla. The five-year-old company raised 10 billion yuan ($ 1.47 billion) in a Series D round, it announced on Tuesday, which will pay for research and development, branding, marketing and expansion of its sales channel.

WM Motor, backed by Baidu and Tencent, is one of the highest-funded EV startups in China, alongside Nio, Xpeng and Li Auto, which have gone public in New York. With its latest capital boost, WM Motor could be gearing up for an initial public offering. As Bloomberg’s sources in July said, the company was weighing a listing on China’s Nasdaq-style STAR board as soon as this year.

Days before its funding news, WM Motor unveiled its key partners and suppliers: Qualcomm Snapdragon’s cockpit chips will power the startup’s in-cabin experience; Baidu’s Apollo autonomous driving system will give WM vehicles self-parking capability; Unisplendour, rooted in China’s Tsinghua University, will take care of the hardware side of autonomous driving; and lastly, integrated circuit company Sino IC Leasing will work on “car connectivity” for WM Motor, whatever that term entails.

It’s not uncommon to see the new generation of EV makers seeking external partnerships, given their limited experience in manufacturing. WM Motor’s rival Xpeng similarly works with Blackberry, Desay EV and Nvidia to deliver its smart EVs.

WM Motor was founded by automotive veteran Freeman Shen, who previously held executive positions at Volvo, Fiat and Geely in China.

The startup recently announced an ambitious plan for the next 3-5 years to allocate 20 billion yuan ($ 2.95 billion) and 3,000 engineers to work on 5G-powered smart cockpits, Level-4 driving and other futuristic auto technologies. That’s a big chunk of the startup’s total raise, which is estimated to be north of $ 3 billion, based on Crunchbase data and its latest funding figure.

Regional governments are often seen rooting for companies partaking in China’s strategic industries, such as semiconductors and electric cars. WM Motor’s latest round, for instance, is led by a state-owned investment platform and state-owned carmaker SAIC Motor, both based in Shanghai where the startup’s headquarters resides. The city is also home to Tesla’s Gigafactory, where the American giant churns out made-in-China vehicles.

In July, the Chinese EV upstart delivered its 30,000th EX5 SUV vehicle, which comes at about $ 22,000 with state subsidy and features the likes of in-car video streaming and air purification. The company claimed that parents of young children account for nearly 70% of its customers.

Startups – TechCrunch

Event discovery network IRL raises $16M Series B after refocusing on virtual events

The COVID-19 pandemic impacted the way a number of companies have had to do business. For the event discovery startup, IRL, it meant pivoting into the virtual events space. This April, the startup quickly reacted to government lockdowns and restrictions on in-person gatherings to focus on helping people find their online counterparts and other virtual events, like live-streamed concerts, Zoom parties, esports tournaments, and more. Today, those efforts are paying off as IRL announces $ 16 million in Series B funding and the expansion of its social calendaring app to colleges.

The new round was led by Goodwater Capital with participation from Founders Fund, Floodgate, and Raine, and comes on top of the $ 11 million IRL had previously raised, including its $ 8 million Series A last year.

The coronavirus pandemic, surprisingly, may have made IRL relevant to a wider audience. Before, IRL was mostly useful to those who lived in areas where there were a lot of events to attend, or who could afford to travel. But with the refocusing on “remote life” instead of “real life,” more people could launch the app to find something interesting to do — even if it was only online.

In fitting with its new focus, IRL redesigned its app earlier this year to create a new homescreen experience where users could discover events they could attend remotely. This design continues to be tweaked, and now features a colorful “discover” tab in the app where you can tap into various event categories, like gaming, music, tv, wellness, sports, podcasts, lifestyle, and more, including those sourced from partners like TikTok, Meetup, Twitch, Spotify, SoundCloud, HBO, Ticketmaster, Eventbrite, and others.

There are also dedicated sections for events you’re following and a curated Top Picks. The IRL in-app calendar, meanwhile, lets you easily see what’s happening today and in the weeks and months ahead.

Since its refocusing on virtual events, IRL has brought people together for online happenings like Burning Man’s Multiverse and TikTok Live’s The Weekend Experience, for example.

According to TikTok, IRL had helped it gauge early interest in its The Weekend Experience event, with some 52,000 IRL RSVPs and 1.1 million followers on its IRL profile.

Image Credits: IRL screenshot via TechCrunch

“IRL has been an amazing platform for us to engage with more of our audience and meet new potential users,” said Jenny Zhu, Head of Integrated Marketing U.S. at TikTok. She also added that TikTok sees “major traffic coming from IRL” and is “excited to continue our partnership.”

In terms of growth, IRL claims its users are now tracking over 1 million hours per spent daily in “Time Together” — a metric that tabulates the number of hours users are spending together at the events they RSVP’d to, virtual or otherwise. In addition, IRL says it has seen 10x growth in daily active users and a total of 300 million “Time Together” hours since last June. It also claims 5.5 million MAUs.

While IRL doesn’t share its download figures, app store intelligence firm Sensor Tower estimates the app has seen a total of 7.7 million installs across iOS and Android.

With the additional capital, IRL is expanding with the launch of a college network.

Its goal is to improve upon the Facebook experience for the younger, student demographic by helping college users find, share, and attend academic and social events, both physical and virtual. However, just this month Facebook launched its own college network, Facebook Campus, which allows students to privately network and track student events on the Facebook platform, outside of their main Facebook profile.

IRL says it’s starting its college network with 100 colleges and universities across the North America, including Harvard, Columbia and NYU. Facebook Campus, meanwhile, launched with 30 schools.

“IRL is the only social platform that helps users find the best ways to spend their time and actually encourages them to get off the platform,” said IRL founder and CEO Abraham Shafi, Founder, about the launch of the new network. “Colleges and universities, in particular, need a way to build and foster a sense of community, whether their students are away from campus remote learning or on campus practicing hybrid learning,” he explained.

For IRL’s investor, Chi-Hua Chien, a Managing Partner at Goodwater Capital, the potential in IRL is its focus on real connections and community-building.

“We believe IRL will grow to become one of the major social networks powering communities on the Internet and in the real world,” Chien said. “IRL delivers on the promise to make social media less isolating, by helping drive authentic connection between friends and family around events they care about,” he added.

 

Startups – TechCrunch

Pure Watercraft ramps up its electric outboard motors with a $23M series A

Electric power only started making sense for land vehicles about ten years ago, but now the technology is ready to make the jump into the water. Pure Watercraft hopes that its electric outboard motor can replace a normal gas one for most boating needs under 50 HP — and it just raised $ 23.4M to hit the throttle.

Pure’s outboard works much like a traditional one, but runs on a suitcase-sized battery pack and is, of course, almost silent except for the sound of the turbulence. It’s pretty much a drop-in replacement for an outboard you’d use on a 10-20 foot boat meant for fishing or puttering around the lake, though the price tag looks a little different.

Founder and CEO Andy Rebele started the company in 2011, and it turns out they had shown up a bit early to the party. “The Model S had not yet been released; the plan of making boats electric was not really fundable,” he told me.

Rebele kept the company going with his own money and a bit of low-key funding in 2016, though he admits now that it was something of a leap of faith.

“You have to bet that this small market will become a big market,” he said. “We developed our entire battery pack architecture, and it took — it’s obvious at this point — millions of dollars to get where we are. But our investors are buying into a leader in the electrification of an entirely new sector of transportation that hasn’t gotten the same attention as cars and trucks.”

A boat with an electric outboard motor cruising on a lake.

Image Credits: Pure Watercraft

They haven’t been wasting time. Pure claims an energy density — how much power is packed into every kilogram — of 166 watt-hours per kilogram, meeting industry leader Tesla and beating plenty of other automotive battery makers. Users can easily add on a second pack or swap in a fresh one. The cells themselves are sourced from Panasonic, like Tesla’s and many others are, but assembling them into an efficient, robust, and in this case waterproof pack is something a company can still do better than its competition.

Having plenty of power is crucial for boats, since they use up so much of it to fight against the constant resistance of the water. The amount of power it takes to go a kilometer in a car is a fraction of what it takes to do so in a boat. Even boats designed for electric from the ground up, like those from Zin, face fundamental limits on their capabilities simply because of physics.

Rebele is aiming for the allure of simplicity. “The most popular outboard motor in the world is 40 horsepower,” he pointed out, and a replacement for that type of motor is exactly what Pure makes. “The mistake car companies made was saying, here’s the electric car market; it’s small, we tried it,” he said. Then Tesla came along with a great car that just happened to be electric.

It’s the same with boating, he suggested — sure, there are lots of different kinds of boats, and motors, and hull materials, and so on. But if Pure offers a motor that’s just as good or better than what powers a huge number of small boats, and just happens to be electric, it starts to sell itself.

Pure Watercraft's battery box.

Image Credits: Pure Watercraft

“We can’t count on people picking our product to save the world,” Rebele said. “The tipping point comes when you have a critical mass of people for whom a good selfish choice is to go electric.”

The benefits, after all, are easy to enumerate: It’s silent, which is great for fishing or social boating; It fills up for a buck or two at any outlet; It’s extremely low maintenance, having vastly fewer parts than a tiny gas engine; And of course it doesn’t spew fumes and particulates into the water and air like most of the depressingly dirty motors currently in use.

The only real advantage left to gas is initial cost and range. If you’re willing to spend some money for a better product, then cost isn’t as much of an issue. And if like most boaters you’re only going to ever go a few miles per trip, the range isn’t an issue. If you’re fishing or just cruising around a lake, it’ll last you all day. The people for whom electric isn’t an option will quickly realize that, while the others will find it increasingly hard to resist the idea.

Pure Watercraft's electric outboard motor lifted out of the water

Image Credits: Pure Watercraft

There’s still a good amount of sticker shock. A good new outboard in the 20-50 HP range runs a few thousand dollars to start, and marine gas costs add up quick; the Pure motor comes in a combo deal with the charger system and one battery pack for $ 16,500 (additional packs cost about $ 8,000). They’re working with some boat manufacturers to do complete boat deals for 30 grand or less, but it’s still firmly in the high end for the “outboard on a 2-6 person boat” crowd.

The $ 23.4 million A round, led by L37 and a number of individuals (including some Amazon execs and , is aimed squarely at spinning up production. After implementing the changes to the “beta” product they’ve been testing with, the first thousand Pure motors will be built in Seattle, where the company is based. The company has essentially finished R&D, so there’s little question of putting off customers for a few years while the product is engineered — and Rebele said they had no intent to build another for now.

“We make this product, at this power level, and that’s all,” he said. The company’s focus makes for good engineering and, hopefully, good margins. Pure should be shipping its motors in time for the 2021 boating season.

Startups – TechCrunch

Outschool, newly profitable, raises a $45M Series B for virtual small group classes

Outschool, which started in 2015 as a platform for homeschooled students to bolster their extracurricular activities, has dramatically widened its customer base since the coronavirus pandemic began.The platform saw its total addressable market increase dramatically as students left campus to abide by COVID regulations instituted by the CDC.

Suddenly, live, small-group online learning classes became a necessity for students. Outschool’s services, which range from engineering lessons through Lego challenges to Spanish teaching by Taylor Swift songs, are now high in demand.

“When the CDC warned that school closures may be required, they talked about ‘internet-based tele-schooling,’” co-founder Amir Nathoo said. “We realized they meant classes over video chat, which is exactly what we offer.”

From August 2019 to August 2020, the online educational class service saw a more than 2,000% increase in bookings. But the surge isn’t just a crop of free users piling atop the platform. Outschool’s sales this year are around $ 54 million, compared to $ 6.5 million the year prior. It turned its first profit as a result of the COVID-19 crisis, and is making more than $ 100 million in annual run rate.

While the profitability and growth could be a signal of the COVID-19 era, today Outschool got a vote of confidence that it isn’t just a pandemic-era boom. Today, Jennifer Carolan of Reach Capital announced at TechCrunch Disrupt that Outschool has raised a $ 45 million Series B round, bringing its total known capital to $ 55 million (see the full panel on Extra Crunch below).

The round was led by Lightspeed Venture Partners, with participation from Reach Capital, Union Square Ventures, SV Angel, FundersClub, Y Combinator and others.

The cash gives Outschool the chance to grow its 60-person staff, which started at 25 people this year.

Founder Amir Nathoo was programming computer games from the age of five. So when it came to starting his own company, creating a platform that helped other kids do the same felt right.

In 2015, Nathoo grabbed Mikhail Seregine, who helped build Amazon Mechanical Turk and Google Consumer Surveys, and Nick Grandy, a product manager at Clever, another edtech company and YC alum. The trio drummed up a way to help students access experiences they don’t get in school.

To gauge interest, the company tried in-person classes in the SF Bay area, online content and tested across hundreds of families. Finally, they started working with homeschoolers as an early adopter audience, all to see if people would pay for non-traditional educational experiences.

“Homeschooling was interesting to us because we believed that if some new approach is going to change our education system radically for the better, it was likely that it would start outside the existing system,” Nathoo said.

He added that he observed that the homeschooling community had more flexibility around self-directed extracurricular activities. Plus, those families had a bigger stake in finding live, small-group instruction, to embed in days. The idea landed them a spot in Y Combinator in 2016, and, upon graduation, a $ 1.4 million seed round led by Collab+Sesame.

“We’d all been on group video calls with work, but we hadn’t seen this format of learning in K12 before,” he said. Outschool began rolling out live, interactive classes in small groups. It took off quickly. Sales grew from $ 500,000 in 2017 to over $ 6 million in 2019.

The strategy gave Outschool an opportunity to raise a Series A from Reach Capital, an edtech-focused venture capital fund, in May 2019. They began thinking outwards, past homeschooling families: what if a family with a kid in school wants extra activities, snuck in afterschool, on weekends or on holidays?

Today feels remarkably different for the startup, and edtech more broadly. Nathoo says that 87% of parents who purchase classes on Outschool have kids in school. The growth of Outschool’s total addressable market comes with a new set of challenges and goals.

When the pandemic started, Outschool had 1,000 teachers on its platform. Now, its marketplace hosts 10,000 teachers, all of whom have to get screened.

“That has been a big challenge,” he said. “We aren’t an open marketplace, so we had to rapidly scale our supply and quality team within our organization.” While that back-end work is time-consuming and challenging, the NPS score from students has remained high, Nathoo noted.

Outschool has a number of competitors in the live learning space. Juni Learning, for example, sells live small-group classes on coding and science. The company raised $ 7.5 million, led by Forerunner Ventures, and has around $ 10 million in ARR. Note earlier that Outschool is at $ 100 million in ARR.

“We provide a much broader range of learning options than Juni, which is focused just on coding classes,” Nathoo said. Outschool currently lists more than 50,000 classes on its website.

Varsity Tutors is another Outschool competitor, which is more similar to Outschool. Varsity Tutors sells online tutoring and large-group classes in core subjects such as Math and English. Nathoo says that Outschool’s differentiation remains in its focus of small-group teaching and a variety of topics.

As for what’s ahead for Outschool, Nathoo flirts with the idea of contradiction: what if the platform goes in schools?

“When I think about our strategy going forward, I think of new types of classes, international embedding and embedding ourselves back into school,” he said.

Outschool might use its growing consumer business as an engine to get into school districts, which are notoriously difficult to land deals with due to small budgets. But, to Nathoo, it’s important to get into schools to increase access to learning.

“Our vision is to build a global education community that supplements local school,” he said.

Startups – TechCrunch

Forage, formerly InsideSherpa, raises $9.3 million Series A for virtual work experiences

Tech’s coveted internships were some of the first roles to be cut as offices closed and businesses shuttered in response to the coronavirus. A number of companies across the country, including Glassdoor, StubHub, Funding Circle, Yelp, Checkr and even the National Institutes of Health, either paused hiring or canceled their internship programs altogether.

For InsideSherpa co-founders Tom Brunskill and Pasha Rayan, the canceled internships were an opportunity. InsideSherpa, a Y Combinator graduate, hosts virtual work experience programs for college students all around the world.

College students, searching for a way to get job-ready, flocked to the platform from Northern Italy to South-East Asia, to all over the United States. Enrollments in InsideSherpa grew more than 86%, up to 1 million students.

The educational service successfully attracted student interest, and now, has landed investor interest. Today, InsideSherpa announced that it raised $ 9.3 million in Series A funding, led by Lightspeed Venture Partners . The startup has now raised $ 11.6 million in known venture funding. Other investors include FundersClub, Y Combinator and Arizona State University.

The financing will be used to grow InsideSherpa’s staff, with more engineering, product and sales roles. Along with the financing, InsideSherpa announced that it has rebranded to Forage.

Forage isn’t selling an internship replacement, but instead comes in one degree before the recruitment process. Students can go to the website and take a course from large companies such as Deloittee, Citi, BCG and GE. The course, designed in collaboration with the particular company and Forage, gives students a chance to “explore what a career would look like at their firm before the internship or entry-level application process opens,” Brunskill explains.

Forage is focused on partnering with large companies that employ upwards of 1,000 students per year via internships to help open up new pipelines. The corporate partners pay a subscription fee per year to post courses, and students can access all courses for free.

Popular courses include the KPMG Data Analytics Program, JPMorgan Chase & Co. Software Engineering Program and the Microsoft Engineering Program.

While Forage declined to disclose ARR, it confirmed that it was profitable heading into its fundraise, which formally closed in July.

Within edtech, flocks of companies have tried (and failed) to deliver on the promise of skills-based learning and employment opportunities as an outcome. The strategy of getting cozy with corporate partners isn’t unique to Forage, but the team views it as a competitive advantage. Of course, the effectiveness of that strategy matters more than the fact that it exists in the first place. Forage did not disclose efficacy information, but said that “some” corporate partners hired up to 52% of the cohort from their programs.

When Brunskill and Rayan first started Forage in 2017, they imagined a mentoring marketplace to connect students to young professionals. Three years later, much has changed.

“While students were interested in the product, they weren’t using it the way we intended,” he said. “Students kept saying to us ‘we just want an internship at company X, can you get me one?’ ”

While Brunskill doesn’t believe there’s any silver bullet solution to fixing education or recruitment systems, he remains optimistic in Forage’s future. After all, even if democratizing access to skills is the first step in a bigger race, it’s not an easy one.

Startups – TechCrunch

Helsinki-based HappySignals uses data to make your employees happier & more productive; secures €4.7M Series A funding

With enterprise IT forming the connective tissue that ensures companies operate efficiently, Experience Level Agreements (XLAs) have become an emerging trend, a few companies specialise in this sector. Working on this front, HappySignals, a Helsinki-based Employee Experience Management Platform for IT makes experienced data visible and understandable. This way, it enables enterprises to change their culture to be more open, data-driven, and outcome-focused.

Secures €4.7M Series A funding

Now, HappySignals has closed a €4.7M Series A funding led by Nauta Capital, along with participation from Vendep Capital. This funding takes the overall funding secured by the Finnish startup to €6.2M. The company will use this investment to strengthen its mission of helping enterprise IT lenders and scaling their presence in the US and Europe.

“We believe happiness and productivity are the keys to transforming business IT culture for the better,” says HappySignals CEO Sami Kallio. “We do this by giving enterprise IT leaders the employee experience data they need to make outcome-focused IT decisions that drive digital transformation.”

“In Nauta Capital, we’ve found the perfect partner to help us scale operations. Their strong track record of supporting B2B disruptors represents a wealth of experience that will ensure we make the right moves going forward. We are also extremely thankful for the continued support of Vendep Capital, who has been with us almost two years now,” he adds.

Focuses on employees’ happiness

HappySignals founded in 2014 Sami Aarnio, Pasi Nikkanen, and Sami Kallio makes employees happier and increases productivity by 26% on average. It measures the experience possessed by employees and gets high volumes of experience data and merges it with operational data. The experience data is shared with partners, vendors, and stakeholders in real-time and help clients reach their goals. HappySignals creates an experience-driven IT department and improves overall productivity.

Main image picture credits: HappySignals

The post Helsinki-based HappySignals uses data to make your employees happier & more productive; secures €4.7M Series A funding appeared first on Silicon Canals .

Startups – Silicon Canals

After lockdowns lead to an e-bike boom, VanMoof raises $40M Series B to expand globally

E-bike startup VanMoof has raised a $ 40 million investment from Norwest Venture Partners, Felix Capital and Balderton Capital. The Series B financing comes after a $ 13.5 million investment in May. The funding brings VanMoof’s total raised to $ 73 million and furthers the e-bike brand’s ultimate mission of getting the next billion on bikes.

The Series B funding will be used to meet the increased demand, shorten delivery times and build a suite of rider service solutions. It also aims to boost its share of the e-bike market in North America, Europe and Japan.

Partly driven by the switch of commuters away from public transport because of the COVID-19 pandemic, the e-bike craze is taking off.

Governments are now investing in cycling infrastructure and the e-bike market is set to surpass $ 46 billion in the next six years, according to reports.

Ties Carlier, co-founder of VanMoof, commented: “E-bike adoption was an inevitable global shift that was already taking place for many years now but COVID-19 put an absolute turbo on it to the point that we’re approaching a critical mass to transform cities for the better.”

VanMoof says it realized a 220% global revenue growth during the worldwide lockdown and sold more bikes in the first four months of 2020 than the previous two years combined.

Stew Campbell, principal at Norwest said: “Taco, Ties and the VanMoof team have not only built an unparalleled brand and best-selling product, but they’re reshaping city mobility all over the world.”

Colin Hanna, principal at Balderton: “As the COVID-19 crisis hit supply chains worldwide, VanMoof’s unique control over design and production was a key advantage that allowed the company to react nimbly and effectively. Moreover, VanMoof’s direct to consumer approach allows the company to build a close relationship to their riders, one that will be strengthened by new products and services in the years to come.”

VanMoof launched the new VanMoof S3 and X3 in April of this year. I reviewed the S3 here and checked out the earlier X2 version here.

Startups – TechCrunch

JupiterOne raises $19M Series A to automate cyber asset management

Asset management might not be the most exciting talking topic, but it’s often an overlooked area of cyber-defenses. By knowing exactly what assets your company has makes it easier to know where the security weak spots are.

That’s the problem JupiterOne is trying to fix.

“We built JupiterOne because we saw a gap in how organizations manage the security and compliance of their cyber assets day to day,” said Erkang Zheng, the company’s founder and chief executive.

The Morrisville, North Carolina-based startup, which spun out from healthcare cloud firm LifeOmic in 2018, helps companies see all of their digital and cloud assets by integrating with dozens of services and tools, including Amazon Web Services, Cloudflare and GitLab, and centralizing the results into a single monitoring tool.

JupiterOne says it makes it easier for companies to spot security issues and maintain compliance, with an aim of helping companies prevent security lapses and data breaches by catching issues early on.

The company already has Reddit, Databricks and Auth0 as customers, and just secured $ 19 million in its Series A, led by Bain Capital Ventures and with participation from Rain Capital and its parent company LifeOmic.

As part of the deal, Bain partner Enrique Salem will join JupiterOne’s board. “We see a large multi-billion-dollar market opportunity for this technology across mid-market and enterprise customers,” he said. Asset management is slated to be a $ 8.5 billion market by 2024.

Zheng told TechCrunch the company plans to use the funds to accelerate its engineering efforts and its go-to-market strategy, with new product features to come.

Startups – TechCrunch