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Urban miner and packaging pioneer Close the Loop is acquired for $5.8 million in the US.

Over the past year, Close the Loop Group ASX CLG has been on a tear, with revenue rising 162% to $170 million in FY22. With the $4 million acquisition

Over the past year, Close the Loop Group ASX CLG has been on a tear, with revenue rising 162% to $170 million in FY22. With the $4 million acquisition of the US company InPlas Recycling, the Melbournebased endtoend recycling solutions and product development group continues its acquisition spree. In order to strengthen its position in the supply chain from collection to recycling to design to manufacture, the firm has been progressively expanding its network of businesses. InPlas Recycling was acquired by Closed the Loop Group for $4 million in cash and debt. The company is situated in the US and works with a range of thermoplastics. It has operations in the automotive, manufacturing, and pharmaceutical industries. Read More..

B2B Tech News | 8 months ago        

Kenyan fintech Kwara signs agreement to reach over 4,000 credit unions and raises $3 million in seed funding.

Kenyan fintech company Kwara says it has ties to a pool of over 4,000 saccos for its bankingasaservice offering after signing an exclusive digital sol

Kenyan fintech company Kwara says it has ties to a pool of over 4,000 saccos for its bankingasaservice offering after signing an exclusive digital solutions distribution arrangement with the Kenya Union of Savings & Credit Cooperatives Kuscco. As part of the exclusivity agreement, Kwara also plans to pay an unknown sum to acquire the software business IRNET, a subsidiary of Kuscco. Existing investors DOB Equity, Globivest, and Kobalt Music founder Willard Ahdritz are among the latest funders of Kwara. According to the business, it increased customer retention to 100% and increased its clientele base from 50 at the end of 2021 to 120 today. Read More..

B2B Tech News | 8 months ago        

Spending on food delivery in the SEA will reach $16 point 3 billion in 2022, according to a report.

In 2022, Southeast Asia spent $16.3 billion on meal delivery, an increase of 5%, according to a report by Momentum Works. For the first time in three

In 2022, Southeast Asia spent $16.3 billion on meal delivery, an increase of 5%, according to a report by Momentum Works. For the first time in three years, the Philippines, Malaysia, and Vietnam—three smaller food delivery markets—were mostly responsible for this development. Meanwhile, the gross merchandise value GMV in Thailand, Singapore, and Indonesia fell over the previous year. Grab led the incumbents in Southeast Asias food delivery GMV in 2022, accounting for 54% of that regions total, or US$8.8 billion, a 16% increase from 2021. Gojek and Shopee maintained their levels at US$2 billion and US$0.9 billion, respectively, while Foodpanda contributed 19% of the total. The reports overall conclusion is that businesses are beginning to put profitability first. Read More..

B2B Tech News | 8 months ago        

Increased CEE accelerator drive by Ventures Thrive.

Startups in the field of climate technology can now submit an application to the Ventures Thrive accelerator programs inaugural round, which primarily

Startups in the field of climate technology can now submit an application to the Ventures Thrive accelerator programs inaugural round, which primarily targets CEE startup ecosystems but also has some openings for western applicants. The first cohort of the CEEfocused deep tech accelerator Ventures Thrive is now accepting applications. According to a November Tech.eu report, the accelerators initial group will concentrate on climate technology and receive investment from Ventures Thrives €1.5 million equityfree funding pool. In fact, it is believed that CEE markets like Poland are underleveraged in the area of climate change. Along with about 13 CEE markets, the full list of eligible nations now includes Portugal, Malta, Greece, and Cyprus. Read More..

B2B Tech News | 8 months ago        

Though a setback, the $30 billion Sun Cable crash doesnt mean that export aspirations for renewable energy are doomed.

The largest export project for renewable energy is thought to be Sun Cable. The plan calls for the construction of a sizable 12,000 hectare solar farm

The largest export project for renewable energy is thought to be Sun Cable. The plan calls for the construction of a sizable 12,000 hectare solar farm in the Northern Territory, the addition of a sizable 40 gigawatt hour battery for power storage, and the construction of an undersea cable that would link Australia and Singapore via Darwin. The two wealthiest men in Australia, Mike CannonBrookes and Andrew Forrest, have thrown their enthusiastic support behind the idea. Its clear that Sun Cable is an extremely ambitious undertaking. However, there isnt nearly enough publicly available data to make a confident assessment of its commercial and technical potential. Read More..

B2B Tech News | 8 months ago        

This week, more than €1.7 billion was invested in European tech, including €215 million that Enpal secured and £562 million that Instadeep acquired.

We monitored over 100 tech fundraising transactions totaling over €1.7 billion this week, as well as over 30 exits, M&A deals, rumours, and associat

We monitored over 100 tech fundraising transactions totaling over €1.7 billion this week, as well as over 30 exits, M&A deals, rumours, and associated news pieces across Europe. We monitored over 100 tech fundraising transactions totaling over €1.7 billion this week, as well as over 30 exits, M&A deals, rumours, and associated news pieces across Europe. You belong to the select group with special access to our findings as a paid subscriber. Youd struggle to keep up with it all, even though we frequently post this information in realtime on Twitter and Instagram the much more fun choice. Trust us we are knowledgeable. We take up the task each and every week so you dont have to. Read More..

B2B Tech News | 8 months ago        

The unicorn ShareChat, backed by Google, reduces staff by 20%.

In a new round of layoffs, ShareChat, an Indian social network unicorn, fired 20% of its workforce, a business representative told Tech in Asia. Out

In a new round of layoffs, ShareChat, an Indian social network unicorn, fired 20% of its workforce, a business representative told Tech in Asia. Out of the 2,100 employees at the company, almost 500 will be affected by the layoffs, according to Tech in Asia. An internal message from ShareChat cofounder and CEO Ankush Sachdeva reportedly claimed that there wont be any more layoffs for the time being. The fantasy gaming platform Jeet11 was shut down in December by Mohalla Tech, the company that owns ShareChat. Mohalla Tech, which was founded in 2015 by Sachdeva, Farid Ahsan, and Bhanu Pratap Singh, raised $520 million in June at a valuation of $5 billion. Read More..

B2B Tech News | 8 months ago        

Ghana is seeking debt relief under the G20 Common Framework, according to Georgieva of the IMF.

According to a person acquainted with the matter, Ghana requested on Tuesday to restructure its bilateral debt under the Common Framework platform bac

According to a person acquainted with the matter, Ghana requested on Tuesday to restructure its bilateral debt under the Common Framework platform backed by the G20. The nation in difficulty is the fourth to submit an application to the G20 initiative, which was established in 2020 and intended to simplify debt restructuring operations as poorer nations began to falter as a result of the COVID19 pandemics effects. China and other nonParis club members are intended to be involved in debt relief negotiations as part of Ghanas debt restructuring under the Common Framework. The Common Framework has received harsh criticism for moving at a glacial pace despite being intended to allow for quick debt restructuring. Read More..

B2B Tech News | 8 months ago        



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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