Sylndr used car market hits US$12.6 million in pre-launch round, setting new record for MENA startups – TechCrunch

Monday May 23, 2022 and we’re listening our brand new podcast called TechCrunch Podcast. In it, we chat with TechCrunch writers about the stories they’re most excited about. The first episode is now live, featuring Darrell and Taylor talking about… UFOsHaje and Christine

TechCrunch’s Top 3

  • Hey, friend, get in my car: Automotive market newcomer Sylndr is holding on to a key position in the used car market in Egypt with a $12.6 million pre-seed round, a major round for the region, to try to make some sense of an outdated and disorganized industry where buyers are distrustful of sellers. Sylndr’s approach is to offer both a “certified pre-owned” option – they buy the cars and put them in working condition – and fund it in the hope that some of that distrust can be remedied.
  • Is it a nerd? Is it crazy? No, it’s super Solana: If you’ll forgive the dodgy Superman reference altogether, Rita discover Does StepN, the latest crypto game craze, make any sense?.
  • High profits: Cryptocurrencies have never been one for stability – heck, even stablecoins aren’t proven to be stable – but for hardcore investors looking for high yielding savings, Pebble wants to be your supplier. Driven by a new $6.2 million seed funding, the startup offers a 5% annual percentage return on all cash deposits through the use of stablecoins. Are people checking their bank APY right now?

Start-ups and VC

Bringing robot operating systems to the cloud makes sense in a world where a lot of industrial robots have limited computing capabilities (and certainly no GPUs, TPUs, or FPGAs to support them). Brian reports a really exciting development from Berkeley’s AI lab that aims to change that.

It’s sad that enough layoffs are happening in startup land that we’re currently doing the third weekly portion of the startup pool drop, but Natasha and Amanda you have covered, let you read all the heartbreaking news in one postinstead of having to read all of our individual coverage.

As we tighten our belts, bang on doors and mutter “winter is coming” under our breaths, Connie has some great advice on why you should start talking to bankers and buyers to Make sure you have options if the guillotine really dropped in a big way.

Some good news too:

Cisco’s latest results suggest a computation may soon be within reach

An illuminated logo above the stand of Cisco Systems Inc.  on the opening day of MWC Barcelona at the Fira de Barcelona venue in Barcelona, ​​Spain, on Monday, February 28, 2022. More than 1,800 exhibitors and attendees from 183 countries will attend annually. the event runs from February 28 to March 3. Photographer: Angel Garcia / Bloomberg

Image credits: Bloomberg/Getty Images

The network leader is Cisco in the doldrums?

Ron Miller and Alex Wilhelm reviewed the company’s recently published quarterly results and found that full-year revenue was flat, with future earnings predicted to be lower than expected.

Last week, CEO Chuck Robbins told analysts the company was feeling the impact of global supply chain problems and Russia’s invasion of Ukraine, but it was increasingly unclear whether its share Can healthy software make up for their sinking hardware business?

“Even once the supply chain issues are resolved, Cisco must find a way to innovate and monetize the network, which it has struggled with for four to four years,” said Holger Mueller, an analyst at Constellation Research. the past six years,” said Holger Mueller, an analyst at Constellation Research.

(TechCrunch+ is our membership program that helps founders and startup teams rise to the top. You can register here.)

Big Tech Inc.

Some M&A news due to Broadcom is interested in VMware. Ron and Alex weren’t the first to receive the news, but they spent some time pondering why Broadcom might have an eye on VMware despite not having much in common between the two.

Today’s mobile news is brought to you by the letter “H”, the letter “B” and the word “sorry”. Annie report on a civil lawsuit that drivers in Kenya have filed against Uber BV with a statement that the ride-hailing company plans to “further reduce travel fees in Kenya, months after cutting it by 35% in 2016”. It also delves into why drivers are still stuck even after the price cut. Meanwhile, Hyundai said it will invest about 10 billion USD in electric cars and self-driving cars by 2025. About half of that will go to car manufacturers the new EV plant it’s building in Georgia. At Boeing, its team is cheering when Starliner spacecraft docked at the International Space Station after multiple delays and even some nail-biting events after takeoff.

In online news, late-night comedian Conan O’Brien must be his smile Team Coco podcast is now part of SiriusXMand there are some Positive news for premium streaming subscriptions that might make Netflix a little jealous.

And now, this one:

  • Where were you when the “Great Fintech Battle” unfolded?: You may remember in one of last week’s Daily Gatherings that we discussed Plaid and plaid go head-to-head on some new tools. Alex and Mary Ann dig a little deeper into this fintech battlewhere the consumer can be declared the winner.
  • Remove malicious text: Microsoft has developed a number of news tools aimed at finding and correcting vulnerabilities in the way artificial intelligence models take large amounts of data to create large language models that often end up in words. hate speech and other harmful language.
  • Epic Games fought the law and won, now: Epic Games temporarily won on behalf of the holding internet music company Bandcamp, to allow the app to run the existing payment system on Android. This is a similar antitrust legal battle against the tech giants that Epic Games is fighting itself.
  • Data disaster: the UK fines Clearview AI £7.5m and asked them to delete the information of UK residents after it was discovered the US-based company, which has a database of more than 20 billion face images, had taken them and used them without authorization. permission to violate local privacy laws. State, Mark Zuckerberg is soaking in hot water. The Facebook founder is part of a new lawsuit brought by the District of Columbia, alleging he was personally involved in the failures that led to the entire Cambridge Analytica – Facebook data abuse incident.
  • Well, lost the cake: Wedding planning app Zola confirmed that hackers broke into users’ accounts, which gave them access to the credit card numbers the hackers used to buy gift cards.

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