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With a $5.4B valuation, Lotus Tech will IPO via SPAC.

Holding Group consented to a merger with a company that writes blank checks in a deal that values the combined company at around $5.4 billion. The EV

Holding Group consented to a merger with a company that writes blank checks in a deal that values the combined company at around $5.4 billion. The EV manufacturing division of the auto manufacturing firm that Geely purchased back in 2017 and L Catterton Asia Acquisition will merge, the two parties announced on Tuesday. The sponsor of the special purpose acquisition company is associated with billionaire Bernard Arnault. Lotus Tech has been considering going public at least since the beginning of last year. Arnault surpassed Tesla CEO Elon Musk to become the richest man in the world last month, making history as the first European to top the Bloomberg Billionaires Index. Read More..

B2B Tech News | 2 years ago        

Rates and taxes alert for Cape Town and Johannesburg.

In 2023, Johannesburg and Cape Town will implement new General Valuation Rolls. The higher the value of a property, the higher the rates and taxes lev

In 2023, Johannesburg and Cape Town will implement new General Valuation Rolls. The higher the value of a property, the higher the rates and taxes levied on it. Residents should anticipate an increase in their rates and tax obligations. The City of Cape Towns Valuations Roll will be open to the public on February 21, 2023. Property owners should expect a formal notification Section 49 notice about the new values. If residents are unhappy with their valuations, they have 60 days to object. Read More..

B2B Tech News | 2 years ago        

To increase customers access to healthier food, Brazilian online grocery delivery service Diferente has secured $3 million.

Differente is a weekly or bimonthly subscription service that delivers fresh organic produce. The company sources directly from organic farmers and ca

Differente is a weekly or bimonthly subscription service that delivers fresh organic produce. The company sources directly from organic farmers and can offer prices that are 40% lower than those found in the grocery store. In Brazil, more than 80% of families cook at home, compared to less than 40% in the United States. Diferente, a Brazilian food delivery service, has raised $3 million in a round led by Caravela Capital. Since its inception in 2022, the companys revenue has increased sevenfold, and it is beginning 2023 with a positive contribution margin. It has already saved 300,000 kilogrammes of food. The company expects to generate more than $30 million in revenue by the end of 2024. Read More..

B2B Tech News | 2 years ago        

An African startup going global is exemplified by InstaDeeps acquisition.

BioNTech, Germanys largest vaccine manufacturer, announced in January that it had agreed to buy Londonbased AI startup InstaDeep for £562 million. Th

BioNTech, Germanys largest vaccine manufacturer, announced in January that it had agreed to buy Londonbased AI startup InstaDeep for £562 million. The transaction is subject to regulatory approval and is expected to close in the first half of 2018. It will be the largest acquisition involving an African or Africanfocused startup in history. Because of its ambition to become a global company, InstaDeep relocated its headquarters from Tunis to London. InstaDeep has shown that an African company with African talent can successfully serve clients all over the world. The firm employs 240 people in Tunis, London, Lagos, Dubai, Berlin, Cape Town, Paris, Boston, and San Francisco. Read More..

B2B Tech News | 2 years ago        

South Africas energy situation is not exceptional, says the government

Mondli Gungubele has assured South Africans that the government is finally taking action to address the countrys 15yearlong energy crisis. Load sheddi

Mondli Gungubele has assured South Africans that the government is finally taking action to address the countrys 15yearlong energy crisis. Load shedding has been a feature of South African life since 2007, and the government has done nothing to improve the situation in the last 15 years. When power utility Eskom was forced to implement stage 6 load shedding in 2022, the government was thrown into crisis mode. These include removing licencing requirements for generation projects to encourage private investment and rebuilding Eskoms technical capacity. Work is being done to enable the construction of substantial new generating capacity, such as solar panels on residential and commercial roofs. Read More..

B2B Tech News | 2 years ago        

$12 million Series B is ordered by FoodByUs and is led by Base Capital.

The $12 million Series B fundraising round for Sydneybased FoodByUs, a wholesale hospitality marketplace, has now been closed. Base Capital, a major i

The $12 million Series B fundraising round for Sydneybased FoodByUs, a wholesale hospitality marketplace, has now been closed. Base Capital, a major international venture capital firm, led the deal. According to the business, the Series B followed a extraordinary period of growth, which included record monthly revenue and a 200 percent increase in suppliers on the website. With the opening of a wholesale food marketplace, FoodByUs enters its next chapter of growth. FoodByUs has helped independent restaurants and cafés save about $16 million in prices and 2,643,750 hours of ordering time just in the last two years. F J Labs, Trawalla Group, and Macquarie Capital, which has supported the company since its start, are among the sponsors. Read More..

B2B Tech News | 2 years ago        

Forwarders digest for Maersk North America for January 2023.

The Maersk Communications Team investigated the most recent predictions for the coming year. Here are some key trends to keep an eye on and plan for i

The Maersk Communications Team investigated the most recent predictions for the coming year. Here are some key trends to keep an eye on and plan for in the coming year. There has never been a greater need for domestic and international freight forwarders to be resilient. In 2023, sustainability will remain a key freight forwarding industry trend. 71% of global consumers are making changes to live more sustainably and purchase more sustainable products. Over the next few years, the global digital freight forward market is expected to grow at a 23% annual rate. Read More..

B2B Tech News | 2 years ago        

On a framework to rebalance their alliance, Renault and Nissan agree.

Renault Group and Nissan have reached an agreement on a basic framework for rebalancing their decadesold partnership. Renault will reduce its controll

Renault Group and Nissan have reached an agreement on a basic framework for rebalancing their decadesold partnership. Renault will reduce its controlling stake in Nissan from 43 percent to 15 percent, while Nissan will participate in a new Renault electric vehicle spinoff. An announcement could come as soon as February 6. Nissan will invest in Ampere, a proposed Renault spinoff that will house the French automakers EV and software operations. The spinoff will primarily focus on developing and selling fullelectric vehicles that meet stringent European emissions regulations. More equality could usher in a new era dubbed Alliance 2.0 by some. Read More..

B2B Tech News | 2 years 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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5.  Approximately 8 billion gadgets connect on the internet every day.
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