World business news 04.09-11.09

The parent company of Forever21 sues Bolt but decides to settle by becoming a stakeholder

The two sides have reached an agreement on a settlement, the one-click checkout startup Bolt and the company announced jointly today. As a result, the lawsuit brought by one of Bolt’s largest customers against the company will be withdrawn.

It’s also interesting to note that the same client, Authentic Brands Group (ABG), is now a stockholder in the business.

ABG declined to comment on the settlement outside of a joint press release, but Bolt CEO Maju Kuruvilla did concede that the two parties had “settled out of court” and that ABG is now in fact a “shareholder” in the company during an interview with TechCrunch.

Oasys, a Japanese gaming blockchain developer, raises $20 million in a private token sale

Veterans of the traditional gaming industry are swarming to web3. The trend seems unstoppable at least for the time being, as investment keeps flooding into the sector, whether people are following it out of a real confidence in blockchain technologies or out of a fear of missing out.

Oasys, a business with offices in Singapore and Japan that is creating a blockchain for game makers, just raised $20 million. Republic Capital spearheaded the round, which also included Jump Crypto, Crypto.com, Huobi, Kucoin, Gate.io, Bitbank, and Mirana Ventures.

Happeo receives $26 million to offer staff a centralized intranet site

The ability of employees to manage information across internal services is becoming more difficult as businesses adopt new tools to support remote work practices. Lower-level employees are also having to deal with their employers’ now-vast libraries of apps, so it’s not only the C-suite that’s being tested. The average business now utilizes 110 software-as-a-service apps, up from eight in 2015, according to Statista. As a result, according to Coveo, employees will spend an hour longer looking for information per day in 2022 than they did in 2017.

To match contractors with events and warehouse work, Traba raises $20 million

Today, Traba, a jobs website that connects entry-level workers with open shifts at event venues and fulfillment centers, revealed that it had raised $20 million in a Series A round of funding. Traba was valued at $120 million post-money as a result of the fundraising, which was headed by Khosla with contributions from Founders Fund, General Catalyst, SciFi VC, and Atomic.

Construction software and finance company Adaptive raises $6.5 million in a seed round led by a16z

Time is money in the building industry.

But managing the administrative side of their finances may be very difficult for construction companies because there are so many moving components.

The 11-month-old business Adaptive has secured $6.5 million in a seed round headed by Andreessen Horowitz with the goal of providing construction teams with better tools to manage their back offices (a16z). This increases the $750,000 in pre-seed capital the business received in August.

Cyber insurance start-up Coalition plans to go worldwide as its valuation reaches $5 billion

Following a massive $250 million Series F investment that increases its valuation to $5 billion, Coalition, a San Francisco-based firm that combines cyber insurance with proactive cybersecurity technologies, is getting ready to expand outside of the United States for the first time.

For virtual rehab services, this cardiac care business has just received $20 million

A virtual at-home intervention program called Moving Analytics (Movn) for high-risk cardiac patients makes the claim to be “the most clinically verified” cardiac rehabilitation program available. Despite the fact that there are alternative online-based programs, they either target other international markets, like Heart2Heart, or they only collaborate with a small number of current insurance partners, such Henry Ford Health.

Kadmos, a network for migrant workers’ salary payments, raises $29.5 million

An estimated 169 million workers travel abroad for work each year, according to figures from the International Labour Organization, and businesses from all sectors of the economy frequently rely on migrant labor. However, being outside of their own country’s legal system and financial system offers a number of difficulties, not the least of which is how to get paid, which is perhaps the most crucial issue for the worker themselves.

Responses

Your email address will not be published. Required fields are marked *