Monthly Archives: September 2021

News: Dear Sophie: How can I present a strong O-1A or EB-1A application?

I’m considering either having my startup sponsor me for an O-1A visa or self-petitioning an EB-1A green card. Any advice or insights on how to present a strong case for an O-1A or EB-1A? Thanks!

Sophie Alcorn
Contributor

Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” She connects people with the businesses and opportunities that expand their lives.

Here’s another edition of “Dear Sophie,” the advice column that answers immigration-related questions about working at technology companies.

“Your questions are vital to the spread of knowledge that allows people all over the world to rise above borders and pursue their dreams,” says Sophie Alcorn, a Silicon Valley immigration attorney. “Whether you’re in people ops, a founder or seeking a job in Silicon Valley, I would love to answer your questions in my next column.”

Extra Crunch members receive access to weekly “Dear Sophie” columns; use promo code ALCORN to purchase a one- or two-year subscription for 50% off.


Dear Sophie,

A few years ago, I moved my startup’s headquarters to New York from Estonia on an E-2 investor visa.

I’ve taken on a few investors since then, but if I take on more, I run the risk of no longer qualifying for an E-2 because my equity is diluting. I’m considering either having my startup sponsor me for an O-1A visa or self-petitioning an EB-1A green card.

Any advice or insights on how to present a strong case for an O-1A or EB-1A? Thanks!

— Savvy Startup Founder

Dear Savvy,

Congrats on your success so far! Yes, we have many best practices to pass along for filing for an O-1A extraordinary ability visa or an EB-1A extraordinary ability green card.

Nadia Zaidi, an associate attorney at Alcorn Immigration Law and an expert in immigration law services for startups and creatives, and I recently did a podcast reviewing what to keep in mind when filing for an O-1A visa, EB-1A green card or EB-2 NIW (National Interest Waiver) green card. Take a listen! I would also recommend you consult an experienced immigration attorney who can help you determine the best approach based on your timing and goals.

Keep in mind that if you pursue an O-1A visa, you will need to show that your startup and you have an employer-employee relationship, or you will need an agent to file on your behalf. If demonstrating an employer-employee relationship, that usually involves showing that your startup’s board of directors oversees your work and can fire you.

A composite image of immigration law attorney Sophie Alcorn in front of a background with a TechCrunch logo.

Image Credits: Joanna Buniak / Sophie Alcorn (opens in a new window)

You might also want to consider filing for International Entrepreneur Parole (IEP). My firm has filed several IEP petitions on behalf of clients. Based on our experience, it takes less time to prepare an IEP petition than an O-1A petition because it’s not as document-intensive. Moreover, if you’re married and you’re granted IEP status, your spouse will be eligible to apply for a work permit. The spouse of an O-1A visa holder is not eligible for a work permit.

Getting back to answering your question, here are some best practices for filing for either an O-1A or an EB-1A:

Field of expertise

Spend some time homing in on your area of expertise. Because both the O-1A and EB-1A are for individuals of extraordinary ability or accomplishments who are at the top of their field, the more narrowly defined your field of expertise is, the easier it will be to demonstrate that you are at the top of it. For example, instead of listing tech entrepreneurship as your area of expertise, narrow it to something like entrepreneurship focused on developing machine learning software for the healthcare industry. Work with an experienced immigration attorney to craft your field for the petition.

Qualification criteria

Familiarize yourself with the qualification criteria for the O-1A and EB-1A, which are similar, and determine which of your skills and achievements best meet the criteria. As a startup founder, the critical and essential role you play at your startup should be easy to demonstrate. Remember, this is not the time to be humble.

Under your leadership, how much funding has your startup raised? Have you received any significant awards? What is your startup’s annual recurring revenue, and how many jobs have you created in the U.S.? Were you invited to judge a pitch competition, speak on a panel or mentor others based on your background, experience or skill set? Were you invited to become a member of an exclusive organization that has a rigorous selection process? Are you a thought leader in your field?

You will need to gather recommendation letters — more on those in a moment — and documentary evidence to demonstrate your achievements, such as a scan or photo of an award, email correspondences, copies or screenshots of articles written either about you or by you, or screenshots of a conference agenda or presentation on YouTube that generated a significant number of views. You should know that U.S. Citizenship and Immigration Services (USCIS) does not consider awards or prizes given out at the university level to be significant accomplishments. Some investments through competitions can qualify as awards, and some investments might not.

Recommendation letters

We typically recommend obtaining five to eight letters from experts in your field who can discuss your abilities and accomplishments and the significance of their impact on your field or beyond. Typically, the more details and examples provided in the recommendation letter — discussed in easy-to-understand terms — the more compelling the letter. You should keep in mind that the immigration official who is evaluating your case will likely not be an expert in your field.

It’s often valuable to submit letters from a variety of individuals, such as those who have worked directly with you and those who only know of you based on your work within your field, academic and professional experts, and individuals from both inside and outside the United States.

Make sure to ask prospective recommenders if they’re willing to submit a letter to USCIS on your behalf. While most recommenders are time-constrained individuals who prefer that you write a draft letter that they can edit, some recommenders prefer to write their own letters, which is good to know from the get-go. Make sure that those individuals who are doing so are willing to edit and make changes to any drafts, such as eliminating jargon or adding more detail.

The process of finalizing recommendation letters and getting them signed along with gathering documentary evidence for a case usually takes longer than most people anticipate. That said, get started!

All the best in the next phase of growing your startup!

Sophie


Have a question for Sophie? Ask it here. We reserve the right to edit your submission for clarity and/or space.

The information provided in “Dear Sophie” is general information and not legal advice. For more information on the limitations of “Dear Sophie,” please view our full disclaimer. You can contact Sophie directly at Alcorn Immigration Law.

Sophie’s podcast, Immigration Law for Tech Startups, is available on all major platforms. If you’d like to be a guest, she’s accepting applications!

News: Google appeals ‘disproportionate’ French copyright talks fine

Google is appealing the more than half a billion dollar fine it got slapped with by France’s competition authority in July. The penalty relates to the adtech giant’s approach toward paying news publishers for content reuse. In a statement today, Sebastien Missoffe, a Google France VP and country manager, characterized the fine as “disproportionate” —

Google is appealing the more than half a billion dollar fine it got slapped with by France’s competition authority in July.

The penalty relates to the adtech giant’s approach toward paying news publishers for content reuse.

In a statement today, Sebastien Missoffe, a Google France VP and country manager, characterized the fine as “disproportionate” — claiming that the $592M penalty is not justified in light of Google’s “efforts” to cut a deal with news publishers and comply with updated copyright rules. Which reads like fairly weak sauce, as defence statements go.

“We are appealing the French Competition Authority’s decision which relates to our negotiations between April and August 2020. We disagree with a number of legal elements, and believe that the fine is disproportionate to our efforts to reach an agreement and comply with the new law,” wrote Missoffe, adding: “Irrespective of this, we recognize neighboring rights and we continue to work hard to resolve this case and put deals in place. This includes expanding offers to 1,200 publishers, clarifying aspects of our contracts, and we are sharing more data as requested by the French Competition Authority in their July Decision.”

Back in 2019, the European Union agreed on an update to digital copyright rules which extended cover to the ledes of news stories — snippets of which aggregators such as Google News had for years routinely scraped and displayed.

Individual EU Member States then needed to transpose the updated pan-EU reforms into their national laws — with France leading the pack to do so.

The country’s competition watchdog has also been leading the charge in enforcing updated rules against Google — ordering the tech giant to negotiate with publishers last year and following that up with a whopping fine when publishers complained to it about how Google was treating those talks.

Announcing the penalty this summer, the Autorité de la Concurrence accused the tech giant of attempting to unilaterally impose a global news licensing product it operates upon local publishers in a bid to avoid having to put a separate financial value on neighbouring rights remuneration — where there is a legal requirement (under EU and French law) upon it to negotiate with said publishers…

The watchdog’s full list of grievances against Google’s modus operandi was very long — check out our earlier report here — so it’s not clear how much of a placeholder action this appeal by Google is.

Per Reuters, the Autorité has said the appeal will not hold up the penalty nor impede the timeline of the order it already issued — which, in mid July, gave Google a two month timeframe to revise its offer and provide publishers with all the required info, with the threat of daily fines (of €900,000) if it failed to meet all its requirements by then. So there is now only a couple of weeks to go before that deadline.

Google may thus be hoping that by announcing an appeal now it will help ‘concentrate’ publishers’ minds — and encourage them to accept — whatever tweaked offer it comes up with, hence its statement noting an ‘expanded’ offer (now covering 1,200 publishers), and talk of “clarifying aspects of our contracts” and “sharing more data”, all of which were areas where Google got roundly spanked by the Autorité. 

News: Facebook enters the fantasy gaming market

Facebook is getting into fantasy sports and other types of fantasy games. The company this morning announced the launch of Facebook Fantasy Games in the U.S. and Canada on the Facebook app for iOS and Android. Some games are described as “simpler” versions of the traditional fantasy sports games already on the market, while others

Facebook is getting into fantasy sports and other types of fantasy games. The company this morning announced the launch of Facebook Fantasy Games in the U.S. and Canada on the Facebook app for iOS and Android. Some games are described as “simpler” versions of the traditional fantasy sports games already on the market, while others allow users to make predictions associated with popular TV series, like “Survivor” or “The Bachelorette.”

The first game to launch is Pick & Play Sports, in partnership with Whistle Sports, where fans get points for correctly predicting the winner of a big game, the points scored by a top player, or other events that unfold during the match. Players can also earn bonus points for building a streak of correct predictions over several days. This game is arriving today.

Image Credits: Facebook

In the months ahead, it will be followed by other games in sports, TV, and pop culture, including Fantasy Survivor, where players choose a set of Castaways from the popular CBS TV show to join their fantasy team and Fantasy “The Bachelorette,” where fans will pick a group of men from the suitors vying for the Bachelorette’s heart and get points based on their actions and events that take place during the show. Other upcoming sports-focused games include MLB Home Run Picks, where players pick the team that they think will hit the most home runs, and LaLiga Winning Streak, where fans predict the team that will win that day.

In addition to top players being featured on leaderboards, games have a social component for those who want to play with friends.

Image Credits: Facebook

Players can create their own fantasy league with friends to compete with one another or against other fans, either publicly or privately. League members can compare scores with each other and will have a place where they can share picks, reactions and comments. This league area resembles a private group on Facebook, as it offers its own compose box for posting only to members and its own dedicated feed. However, the page is designed to support groups with specific buttons to “play” or view the “leaderboard,” among others.

The addition of fantasy games could help Facebook increase the time users spent on its app at a time when the company is facing significant competition in social, namely from TikTok. According to App Annie, the average monthly time spent per user in TikTok grew faster than other top social apps in 2020, including by 70% in the U.S., surpassing Facebook.

Facebook had dabbled in the idea of becoming a second screen companion for live events in the past, but in a different way than fantasy sports and games. Instead, its R&D division tested Venue, which worked as a way for fans to comment on live events which were hosted in the app by well-known personalities.

The company has several other gaming investments, as well, including through its cloud gaming service on the desktop web and Android, its Games tab for streamers, and its VR company, Oculus.

The new league games will be available from the bookmark menu on the mobile app and in News Feed through notifications.

News: Anima, a no-code tool that turns designs into code, raises $10 million Series A

Anima, the YC-backed platform that turns designs into code, has today announced the close of a $10 million Series A financing. The round was led by MizMaa Ventures with participation from INcapital and Hetz Ventures. We’ve been following Anima, which was bootstrapped until last year, for a while now. The startup indexes on several trending

Anima, the YC-backed platform that turns designs into code, has today announced the close of a $10 million Series A financing. The round was led by MizMaa Ventures with participation from INcapital and Hetz Ventures.

We’ve been following Anima, which was bootstrapped until last year, for a while now.

The startup indexes on several trending ingredients right now, including a bottoms-up distribution approach, and the popularity of low/no code.

Here’s how it works.

Most developers spend a tremendous amount of time turning design elements into code. Unfortunately, this piece of their job isn’t nearly as exciting as writing the code that actually makes the app, website, platform, etc. work.

With Anima, designers can upload their element or design from Figma and it will be automatically transformed into high-quality code, with support for React, Vue.js, HTML, CSS and Sass. Designers can also create prototypes of their work right within Anima, so that the system can process not only how something looks statically but how the flow should feel.

Cofounders Avishay and Michal Cohen and Or Arbel (a name you may recognize from the glory days of Yo!) have a clear vision on how to use the funding. Alongside tripling the size of the team, they plan to build integrations with platforms like Figma, Sketch, etc. and Github so that Anima itself can effectively get out of the way, allowing designers and developers to hand off these elements in the platforms where they already live.

In terms of distribution, Anima is making the most of their bottoms-up approach. Any designer can sign up for free to use Anima, and right now there are more than 600,000 users registered with the platform. That’s compared with roughly 300,000 users in October of 2020. Avishay Cohen clarified that active users are growing, too, with 80,000 monthly active users on the platform now compared with 10,000 a year ago.

The Cohens went on to explain that more than 5 percent of free users convert into paying users, and that 15 percent of paying accounts expand into teams organically within the first one to two months of becoming a paid user. The startup is already getting requests for enterprise accounts, which the cofounders describe as the next phase of the business on the back of this new funding.

Arbel told TechCrunch that the greatest challenge during this time has been hiring in a remote world, and that the answer to that, for Anima, has been looking at talent on a global scale. The Cohens added that with that hyperscaling, growing the team from four to 30 in the year and continuing to hire, it is challenging to maintain and foster company culture.

News: Skit raises $23M Series B round led by WestBridge Capital to accelerate its growth

“Traditional voice-based call center service is difficult and costly. This is where artificial intelligence and voice technology have presented an opportunity for enterprises to overcome the challenges of scale and engagement at their customer contact centers,” co-founder and CEO Skit Sourabh Gupta told TechCrunch. The Covid-19 pandemic led to an unprecedented increase in call volumes

“Traditional voice-based call center service is difficult and costly. This is where artificial intelligence and voice technology have presented an opportunity for enterprises to overcome the challenges of scale and engagement at their customer contact centers,” co-founder and CEO Skit Sourabh Gupta told TechCrunch.

The Covid-19 pandemic led to an unprecedented increase in call volumes at bank call centers as customers tried to manage their portfolios amid the chaos of work from home policy and financial instability, Gupta said. And that presented an opportunity for companies like Skit.

“Customers have a natural tendency to prefer voice call support over other self-service channels and this has led to the increase in pressure on the traditional interactive voice responses (IVR) systems and support agents to respond to all incoming queries,” he said.

Bengaluru-based artificial intelligence SaaS voice automation company Skit, formerly known as Vernacular.ai, developed its AI-based voice automation platform VIVA, short for Vernacular Intelligent Voice Assistant, which enables corporations to automate 90% of their call center operations powered by Natural Language Understanding (NLU) technology.  Its product VIVA covers more than 16 languages and 160 dialects.

Skit announced today it has closed $23 million Series B round to accelerate its growth in domestic and global markets including the US and South East Asia and enhance its voice automation platform.

The company was founded in 2016 by two co-founders, Indian Institute of Technology alumni, Roorkee alumnus, Sourabh Gupta and Akshay Deshraj.

The latest funding was led by WestBridge Capital along with existing investors Kalaari Capital and Exfinity Ventures, IAN Fund, LetsVenture and Sense AI. Angel investors including Prophetic Ventures’ Aaryaman Vir Shah also participated the round. The Series B round brings Skit’s total funding to $30 million.

Skit will use the fresh funding for sales, marketing, further R&D to strengthen its personalized solutions and voice products, as well as its global expansion.

“We want to double down and scale operations in both Indian and global markets. We are also planning on increasing our employee headcount. Through our new headquarters in New York, we want to build a strong customer base in North America by our product available to US enterprises,” Gupta told TechCrunch.

The company said it has quadrupled its amount of revenue and numbers of customers in 2020-2021 since its previous fundraising, $5.1 million Series A, in May 2020. Its average order book has also been growing in CAGR 200-300% every year, Gupta added. It currently has 150 employees.

Skit recently expanded into the US and South East Asia market.

“We noticed that there (South East Asia) is a high potential market for the adoption of conversational AI. Most importantly, these markets are home to a multitude of languages and dialects,” Gupta said in an exclusive interview with TechCrunch.

Given that language and hyper-personalization are Skit’s strongest suit, the company is witnessing increase adoption in South East Asia market, where is easier for the company to expand with similar demographics and business challenges as in India, Gupta explained.

It also opened headquarters in NYC, “It is a mature market, ahead in technology adoption with a level-playing for strong competition,” he said.

Venture advisor at WestBridge Capital Sashi Reddi said in a statement: “Skit’s success in helping India’s largest companies, positions them well to enter the US market where there is a massive need for voice AI solutions.”

The global contact center market size is expected to increase steadily and reach $496 billion by 2027. Skit will potentially address the $300 billion voice customer service market with its voice AI platform VIVA, Gupta said.

Its B2B and B2C clients are in diverse industries including banking, insurance, finance, securities, non-banking finance companies, travels, logistics, food & beverage, e-commerce. It has more than 25 B2B clients including Axis Bank, Hathway, Porter and Barbeque Nation, according to Gupta.

Call centers are traditionally places where there are high costs and high attrition rates, and for the end-users the traditional interactive voice responses (IVRs) and the wait times are irritating. There were longer than usual wait-times, call drops and going through extensive IVR menus and frequent agent transfers which increase customer frustration.

With over 10 million hour of training data, Skit’s VIVA replicates human-like conversation and understands speaker’s intent and can translate other unique speech characteristics that enable more efficient query resolutions, Gupta said.

Skit has been listed in Forbes 30 Under 30 Asia start-ups 2021.

News: Vista Equity to acquire majority stake in SaaS startup Drift, taking it to unicorn status

Private equity firm Vista Equity Partners announced today that it is taking a majority stake in Drift, a company which aims to be the Amazon of businesses, with a “growth investment” that propels the venture-backed startup to unicorn status. Unfortunately, neither party would disclose the amount of the investment, or Drift’s new valuation. But co-founder

Private equity firm Vista Equity Partners announced today that it is taking a majority stake in Drift, a company which aims to be the Amazon of businesses, with a “growth investment” that propels the venture-backed startup to unicorn status.

Unfortunately, neither party would disclose the amount of the investment, or Drift’s new valuation. But co-founder and CEO David Cancel did say the SaaS company saw 70% growth in its annual recurring revenue (ARR) in 2020 compared to the year prior and is on target for a similar metric this year. It is not yet profitable, as it is focused on growth, he added.

Prior to this financing, Boston-based Drift had raised $107 million in funding from the likes of Sequoia Capital, CRV and General Catalyst since its 2015 inception.

So just what does the company do exactly? The startup says it is out to ”reimagine the B2B buying experience,” according to Cancel. By using its software, Drift’s 50,000 customers are able to bring together sales and marketing teams on one platform to “deliver personalized conversations” that the company says build trust and accelerate revenue. 

Its customers include ServiceNow, Okta, Grubhub, Mindbody, Adobe, Ellie May and Snowflake, among others. Today 75% of Drift’s customers are mid-market enterprise, according to Cancel. 

Over the past five years, Drift has worked to create and define something it describes as “Conversational Marketing” with the goal of helping marketers “harness the digital experience for lead generation.” Or to put it more simply, Drift subscribers can use chatbots to help turn web visits into sales.

The company says it is out to remove the friction between buyers and sellers so they can not only get more leads, but also close more sales. This led Drift to expand its focus to build a platform that includes conversational sales, which integrates chat, email, video and artificial intelligence to power conversations, not just on a customer’s website, but for the sales team too. 

Cancel said that Vista’s strategic growth investment will help the company move even faster, expand globally and launch a new B2B category called “Conversation Commerce,” an interactive approach to conversations that Drift believes has the potential to “transform the entire B2B revenue function.”

Basically, the company is trying to make the B2B buying/selling experience similar to that of a B2C one. At least 80% of B2B buyers are not only looking for, but expect, a buying experience similar to that of a B2C customer, according to Cancel.

So far in 2021, Drift’s customers generated $5 billion in pipeline value by making the customer side of the buying process easier, he said.

For Cancel, a serial entrepreneur who previously founded and sold four other companies, the notion of owning a company with a unicorn valuation was not something he and co-founder and CTO Elias Torres were overly consumed with.

But what did appeal to the pair was the opportunity to add to the too-short list of U.S.-based unicorns with Latin founders and serve as an inspiration for other entrepreneurs of Latin descent. Cancel’s parents emigrated from Puerto Rico and Cuba while Torres emigrated from Nicaragua in his teens.

“I didn’t really care about that [unicorn] status except for one reason and the reason was that we are both Latino and if we hit this milestone, then we would be part of the less than 1% of Latinos that had ever done that,” Cancel told TechCrunch. “And that was important to us because we believe that we have the responsibility to pay it forward and to help people and to inspire other people who are like us and are often marginalized. We want to show that they can do this too.”

Torres agreed, saying that he and Cancel were “proud to be one of the only Latino-founded companies to ever achieve over $1 billion valuation – a rare, Latino-founded unicorn.”

“We want to see more of us do the same and we will pave the way for other Latino founders and leaders to achieve success,” he added.

By having a majority owner in Vista, which focuses exclusively on backing enterprise software, data and technology-enabled businesses, Cancel believes that Drift can “get more efficient in some areas.” He also thinks that the firm can help it ramp up its acquisitions pace. (So far it has made three.)

The nearly 600-person company still has its sights on going public, according to Cancel, and believes that by working with Vista, it will have a “clearer path” to do so.

“It’s something we think about a lot,” he told TechCrunch. “It’s still in our future.”

Monti Saroya, co-head of the Flagship Fund and senior managing director at Vista, thinks that Drift represents a “compelling” opportunity for Vista.

“Drift is a company that is experiencing hypergrowth at scale, we and we believe the conversational marketing and sales tools it offers will continue to be in high demand as companies race to modernize their B2B commerce strategies,” he told TechCrunch.

Earlier this year, Vista — which has over $77 billion in assets under management — invested $242 million to acquire a minority stake in Vena, a Canadian company focused on the Corporate Performance Management (CPM) software space.

Meanwhile, Vista’s acquisition of Drift is expected to close in the fourth quarter of 2021.

News: General Catalyst, Abstract back Wanderlog’s $1.5M round for collaborative travel

The free itinerary maker and road trip planner takes the best parts of Google Docs and Maps and enables users to import the information and map out their trips with others.

Twin brothers Harry and Peter Yu grew up traveling all over, an aspect of their lives that continued even into their careers. What they didn’t enjoy was figuring out all the logistics, which has become more difficult during the pandemic: vacations that could be taken quickly now require more planning and even reservations.

“People travel differently, but the common denominator is that everyone uses some kind of document to plan and share their trip information,” Harry Yu told TechCrunch. “We saw a need for something that is better than spreadsheets and ‘copy-and paste.’ ”

So they launched Bay Area-based Wanderlog in 2019 to enable users to gather and record their travel plans. The free itinerary maker and road trip planner takes the best parts of Google Docs and Maps and enables users to import the information and map out the trip. You can even add lists of places you’d like to visit, and Wanderlog will recommend the best way to get there. Reservations can also be added, Peter Yu said.

Wanderlog demo. Image Credits: Wanderlog

The company announced Wednesday it raised $1.5 million in seed funding from General Catalyst and Abstract Ventures.

“Wanderlog has built a product that has a unique understanding of how users plan trips and share their experiences — it’s no surprise that people love using it,” General Catalyst’s Niko Bonatsos said via email. “General Catalyst is proud to invest in Wanderlog as they change the way we travel together, and we’re excited by the growth Peter, Harry and the entire Wanderlog team have achieved.”

The company, which was part of Y Combinator’s 2019 cohort, plans to use the new funding to expand its web and mobile app features, including offering restaurant recommendations, based on Google and Yelp reviews, for those who don’t want to do a bunch of searching and reading reviews.

The founders declined to share growth metrics, but said the platform is already facilitating thousands of trips per week. Customers are already sharing with the founders that the app is good for communication among a large group, where everyone can see what the plans are and discuss them, Harry Yu said. In addition, they just launched a subscription service and are seeing good early metrics.

Wanderlog is among a number of travel startups attracting venture capital dollars as travel restrictions have begun to ease amid the pandemic. For example, just over the past month companies like Thatch raised $3 million for its platform aimed at travel creators, travel tech company Hopper brought in $175 million, Wheel the World grabbed $2 million for its disability-friendly vacation planner and Elude raised $2.1 million to bring spontaneous travel back to a hard-hit industry.

 

News: “Knowledge-as-a-service” platform Lynk lands funding from UBS’ Investment Bank

Lynk, the “knowledge-as-a-service” platform with more than 840,000 experts, announced today it has added $5 million raised from UBS’ Investment Bank division to its previously announced Series B. This brings the round’s new total to $29 million. The strategic investment marks the first time UBS has invested private equity in Lynk. The startup, which has

Lynk, the “knowledge-as-a-service” platform with more than 840,000 experts, announced today it has added $5 million raised from UBS’ Investment Bank division to its previously announced Series B. This brings the round’s new total to $29 million.

The strategic investment marks the first time UBS has invested private equity in Lynk. The startup, which has now raised $35 million in funding, added UBS as a client in May, giving the banking giant’s research analysts and institutional investor clients access to Lynk’s database and tools.

Founded in 2015 by chief executive officer Peggy Choi, Lynk uses machine learning algorithms to match users with experts on its platform. Its goal is to connect its clients, including financial institutions and government organizations, with people they might not usually find online or at traditional consultancy. The company has offices in New York, Hong Kong, Singapore, Mumbai, Shanghai and Toronto.

As part of the funding, Lynk will broaden its collaboration with UBS Group. UBS Investment Bank’s Global Markets team was already offering Lynk to its institutional investor clients. Lynk has also brought some of UBS Global Research’s top-ranked analysts onto its platform as experts, including in areas like Environmental, Social and Governance (ESG), valuation and accounting, and industry trends in China.

News: Carbon Robotics secures $27M for its autonomous field weeders

Agricultural robotics firm Carbon Robotics (not to be confused with our former Battlefield contestant) announced this week that it has secured $27 million in funding. The round — which features Anthos Capital, Ignition Capital, Fuse Venture Partners and Voyager Capital — follows an $8.4 million Series A raised back in 2019. The company’s total funding

Agricultural robotics firm Carbon Robotics (not to be confused with our former Battlefield contestant) announced this week that it has secured $27 million in funding. The round — which features Anthos Capital, Ignition Capital, Fuse Venture Partners and Voyager Capital — follows an $8.4 million Series A raised back in 2019. The company’s total funding is now at around $36 million.

“Weeding is one of the biggest challenges farmers face, especially with the rise of herbicide-resistant weeds and increasing interest in organic and regenerative methods,” founder and CEO Paul Mikesell said in a release. “This round of investment will enable us to scale our operations to meet the increasing demand for this technology. Additionally, this funding will allow our team to continue to innovate new products and identify revolutionary ways to apply technology to agriculture.”

The Seattle-based startup’s primary offering is an autonomous robot that uses lasers to zap weeds. The round follows the April announcement of Carbon’s latest-generation Autonomous Weeder, which it says is capable of eradicating around 100,000 weeds per hour. The pandemic has continued to accelerate interest in many agricultural robotics companies, as labor shortages continue to mount.

Carbon notes some international bans on various pesticides have left many farmers searching for an alternative solution. A system that works without the need for harmful chemicals that also reduces human labor in an industry often suffering from shortages in headcount has clear appeal.

The company says it has already sold out of its 2021 and 2022 stock, so one assumes scaling up production and headcount will be key investments from this round.

News: Cake launches the Makka, a $3,500 electric moped for city riding

Swedish electric motorcycle manufacturer Cake has released its newest vehicle, the Makka, a super lightweight e-moped that’s built for urban convenience. The bike starts at $3,500 and is now available for pre-order in the U.S. and Europe. The Makka is a step outside the norm for Cake, which is best-known for off-road motorbikes like its flagship

Swedish electric motorcycle manufacturer Cake has released its newest vehicle, the Makka, a super lightweight e-moped that’s built for urban convenience. The bike starts at $3,500 and is now available for pre-order in the U.S. and Europe.

The Makka is a step outside the norm for Cake, which is best-known for off-road motorbikes like its flagship high-performance Kalk and its utility machine Ösa. This third platform will be Cake’s first motorbike specifically made for city riding like short-haul commercial transportation and commuting needs. 

“These new electric mopeds further define Cake’s ambition of making two-wheeled electric vehicles accessible to everyone, while constantly pushing the envelope of performance, durability and relevancy in line with the company’s mission to inspire towards a zero-emission lifestyle,” the company said in a statement.

The Makka weighs about 132 pounds and comes standard with a rear cargo rack. Mounts and other accessories like saddlebags, a child seat or even a passenger seat can be attached to the rack.

The e-moped comes in white or gray and is street legal. In the U.S., it’s classified as a motor-driven cycle, meaning it produces 5-brake horsepower or less, and requires a car or motorcycle license. In the EU, the Makka has an L1e-b classification, which means the motor does not exceed 45 kilometers per hour (28 miles per hour), and requires a moped or car license.

Cake’s newest moped comes in two forms. The Makka Range, which is available only in Europe, has a lower maximum speed of 15 miles per hour and a range of up to 35 miles. The Makka Flex, which is available in Europe and the U.S., costs $3,800 and can hit top speeds of 28 miles per hour,. The range of this vehicle is slightly less at 30 miles.

Both bikes feature a foot board and aluminum step-through frame, which rides on top of two 14 by 3 inch motorcycle tires. The Makka range comes with a touchscreen display that shows information like battery, speedometer, odometer, ride mode (for extended range or balanced performance) and brake mode selection.

The Makka’s drivetrain has 3.6 kW of power and a battery capacity of 1.5 kWh. It takes about two hours to charge the battery up to 80%, which can be done by removing the battery or plugging the bike in. It takes three hours to charge the battery to 100%. The electronic motorcycle braking system with hand levers for both front and rear braking regenerates braking power into the battery to increase range.

Cake isn’t the only manufacturer to see the utility in repurposing off-road bikes for urban use. Ubco, a New Zealand electric utility bike brand, has recently raised $10 million to expand sales of its moped, which has a similar look and feel to the Makka, internationally to the U.S. Cake’s last funding round was a $14 million Series A in 2019.

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