Want to spark an e-scooter revolution in London? Ditch the language of conquest May 21, 2019 When Germany’s politicians gave electric scooters the green light last Friday, they instantly created Europe’s largest market for this new mode of transport, while making Britain the last remaining major country in the continent not to approve e-scooters for use on roads. Pressure is now mounting on British politicians to overturn the ban on e-scooters, [...]
No slacker: Messaging app Slack targets $196.5m in New York Stock Exchange float May 21, 2019 Work messaging app Slack expects to net $196.5m when it goes public on the New York Stock Exchange in the next few weeks. Read more: Slack files for IPO: Everything you need to know The collaboration firm, which changed its stock ticker from ‘SK’ to ‘WORK’ yesterday, will float nearly 117m shares on the stock [...]
Mobility software firm raises $4.6m from Amadeus and Global Brain May 21, 2019 Artificial intelligence mobility startup Immense Simulations has closed its series A funding round at $4.6m (£3.6m), after spinning out from the government’s Catapult tech programme in 2016. The round was co-led by Amadeus Capital Partners, previously named one of Europe’s most active AI investors, and Japanese venture capital giant Global Brain. Additional investment was provided [...]
Stocks tumble as Google’s Huawei block stokes trade tensions May 20, 2019 Global stocks slumped today after Google blocked parts of its business with Huawei, sparking fears of an escalation in the trade war between the US and China. Google today confirmed it had suspended Huawei’s access to its Android operating system after US President Donald Trump blacklisted the Chinese company over fears it could be a [...]
Tencent backs top AI startup in $24m injection May 20, 2019 A host of major businesses and venture capital firms have joined in a $24m (£18.9m) funding round for a Prowler.io, valuing the Cambridge artificial intelligence (AI) startup at $100m. Chinese media giant Tencent led the round, with publishing house Pearson and Monzo-backer Passion Capital also joining. Other investors included Amadeus Capital Partners, Atlantic Bridge, Cambridge [...]
Xiaomi posts sharp rise in revenue as it defies smartphone slowdown May 20, 2019 Chinese tech giant Xiaomi has bucked the downward trend in the smartphone market, posting a sharp rise in revenue for the first quarter. Read more: China's Xiaomi reveals 5G smartphone with sliding camera Revenue rose 27 per cent to ¥43.8bn (£5bn) in the three months to the end of March, while profit before tax rose [...]
Chipmaker Infineon suspends shipments to Huawei May 20, 2019 German chipmaker Infineon has reportedly suspended shipments to Huawei, becoming the latest firm to cut ties with the Chinese telecoms giant. Infineon’s decision to stop deliveries comes after the Trump administration blacklisted Huawei, which is the world’s second largest smartphone maker after Samsung, and Google restricted the company from some updates to the Android operating [...]
Game of Thrones fans rage at Chinese tech firm Tencent after episode delayed May 20, 2019 Chinese Game of Thrones fans expressed their outrage with tech firm Tencent this morning after it postponed the airing of the final episode of the fantasy series. Tencent Video which owns the broadcast rights to the HBO show in China was scheduled to air the episode at 9am Beijing time (1am GMT). However, an hour [...]
Fintech startup Wagestream picks up £15m from Balderton and Northzone May 20, 2019 London fintech startup Wagestream has today closed a £15m series A funding round, co-led by venture capital investors Balderton Capital and Northzone. The round was raised in addition to a credit facility of up to £25m Shawbrook Bank. At £40m, Wagestream chief executive Peter Briffett said the total amount raised marks the largest single social impact [...]
Monzo hits 2m customer milestone as fintech race heats up May 20, 2019 Digital banking darling Monzo's current account is set to surpass 2m customers today, as it races to catch up with London rival Revolut. The two fintech startups have been locked in an intense race to command market share in the nascent mobile banking sector, as well as to expand overseas. Read more: Monzo to roll [...]
