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Greetings to all on this fine day. If you have not had the chance yet, please give a call to our latest reporter, Andrew Mendez, who wrote today about Twelve that captures carbon and turns it into things like sunglasses. We also have a couple of submission requests: students can submit a video pitch to win a Disrupt prize package, and all robot companies wishing to pitch at the upcoming TC Sessions: Robotics event on July 21 have a deadline of July 7. If you’m not sure what’s waiting there, Brian posts everything for you in its Actuator column. See you tomorrow! – Christine
TechCrunch Top 3
Startups and VC
In today’s start-up and venture capital news, we start with Mary Annits report on Mottu, a Brazilian motorcycle rental company that raised $ 40 million to help Latin Americans become couriers. This seems to be a trend to see in that region.
Over to Wattpad, a startup of storytelling, which unveiled some new programs that can get writers paid by measuring how engaged readers are, Ivan write.
Spend management is big business right now, and Tage reported that Sava is the latest to attract funding, $ 2 million in upfront capital, for its approach to helping companies control their spending and eliminate the manual work of keeping track of it all.
More to love:
- Money for MoHash: The startup, which raised $ 6 million in start-up funding, aims to offer crypto alternatives, Manish write.
- Keep your hand out of my pocket: Mary Ann writes about HomeLister’s series A round of $ 10 million that allows homeowners to sell their homes without the real estate agent and keep the commission to themselves.
- Data dance: Black Swan Data is now flush with $ 18.5 million in new funding to predict which products will be most successful based on data from social media conversations, Kyle reports.
When it comes to sanctions, PE companies must proceed with great caution
Photo credit: mikkelwilliam (opens in new window) / Getty Images
Banks and other financial institutions must follow the know-your-customer (KYC) guidelines, but private equity funds have a loophole: They are not legally obliged to tell regulators who their investors are – or whether they behave suspiciously.
However, Russia’s invasion of Ukraine changed that.
The increasingly isolated nation is now facing international sanctions, and “PEs are investing in the close management of compliance programs, policies and procedures at each of their portfolio companies,” writes Snežana Gebauer, a partner with StoneTurn.
(TechCrunch + is our membership program, which helps founders and startup teams move forward. You can register here.)
Big Tech Inc.
Samsung Electronics said it is the first to mass-produce 3-nanometer chips globally. As Kate reports, this is good news for an industry experiencing a shortage that has affected everyone from automakers to anyone trying to build next-generation products.
Tim unpacks the new ruling from the US Supreme Court that “the Environmental Protection Agency does not have the authority to regulate carbon pollution from existing power plants,” and writes that something like this must come from Congress.
Over in India, Manish writes that an agreement for Lenskart to buy a majority stake in the Japanese-based eyewear brand Owndays will create “one of Asia’s largest online eyewear stores”.
Now here’s more:
