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Social media content and analytics startup PressLogic raises $10M from popular Chinese selfie app Meitu

PressLogic founders Ryan Cheung and Edward Chow

PressLogic, a Hong Kong-based social media content and data analytics startup, announced today that it has raised a $10 million Series A+ round from Meitu, developer of the popular Chinese selfie app. PressLogic will use the funds to launch its new lifestyle brand GirlStyle and enter e-commerce with its proprietary algorithms, which predict what topics will trend on social media among specific groups.

The new round brings PressLogic’s total raised to $15 million. Meitu first acquired a minority stake in PressLogic last year.

After launching a data-analytics service for social media managers called MediaLens in 2016, founders Ryan Cheung and Edward Chow began creating social media publishing and marketing brands in order to show potential clients how their technology could boost audience engagement. PressLogic, their social media publishing platform, now claims a total of 8 million Facebook and Instagram followers and more than 700 million monthly content impressions across its social media profiles and websites, with about 75 percent of its visitors aged 18 to 34.

MediaLens still serves as PressLogic’s core technology, underpinning its content brands, as well as the insights it provides to partners in order to increase their social media engagement and return on investment. CEO Cheung (Chow serves as PressLogic’s CTO) told TechCrunch that MediaLens “creates a pipeline from data sourcing to content suggestion to optimization” and has an edge against its competitors because it is able to make more granular suggestions about what content is likely to be popular among specific groups based on trending topics.

With its new round of funding, PressLogic will launch GirlStyle, a lifestyle and fashion-based social network targeted to young women, as an app and website in Hong Kong, Taiwan, Singapore, India, Korea and Malaysia by the end of this year. In terms of e-commerce, Cheung says the company will start by focusing on skincare and cosmetics by leveraging data from its online traffic and readers.

PressLogic hasn’t revealed if Meitu’s photo imaging technology will be integrated into its platform, but Cheung says it would like to extend MediaLens’ analytics to images, too, as data from photos and videos shared on social media is potentially valuable, but still difficult to transform into the kind of insights that help predict which content will go viral next.

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Portify raises £1.3M to help gig economy workers improve their financial well-being

Portify, a London fintech startup that offers an app and various financial products to help gig economy workers better manage their finances and in turn improve financial well-being, has raised £1.3 million in seed investment. The round was led by Kindred Capital and company builder and investor Entrepreneur First (EF), with participation from various unnamed angel investors.

Founded in May last year by EF alumni Sho Sugihara (CEO) and Chris Butcher (CTO), Portify is setting out to address the financial volatility many flexible or so-called gig economy workers face. The startup offers a number of tailored financial products, accessible via its mobile app, to help flexible workers get insights into their current financial status and income, as well as do short and long-term financial planning.

The app — primarily a B2B2C play — is distributed in partnership with various gig economy platforms and also includes earning “rewards” at partnering merchants or service providers. The current Portify website lists TransferWise, Amazon and Spotify as rewards.

“Portify’s vision is to enable financial security and well-being for independent workers,” Portify co-founder and CEO Sho Sugihara tells me. “While we’ve seen rapid growth in the numbers of independent workers (6 million in the U.K., and up to 162 million in the E.U. and U.S., according to McKinsey), there is still a large gap in the market for financial services to ensure these workers are secure, and have access to an economic ladder.

“We work with companies to help build access to financial products that enable this security and progression, and offer this through a mobile app which workers can port between different jobs.”

Sugihara says there are three elements to Portify’s mission: helping flexible workers control “immediate income volatility,” helping them budget effectively on a day-to-day basis and support with financial planning for the long term.

“Once a user gets access to our app, the first thing they do is securely connect their bank account,” he explains. “We then help control volatility by offering emergency credit with select stores to buy essential products if required. We also help our users manage cash flow and budget for tax and other recurring expenses. By building up financial security and well-being from the ground up, our goal is to improve our user’s financial standing over the long term, whether through saving for retirement or helping them invest into their own businesses and careers.”

To that end, Sugihara says Portify is currently being used by independent workers in the gig economy and temp staffing sector. This covers couriers, ride-hailing drivers, retail shop floor staff and hospitality workers, amongst others. Its B2B customers span large gig economy platforms and digital temporary staffing agencies “with global coverage.”

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Home Made raises further £2M for its premium online lettings agency

Home Made, the London premium online lettings agency, has raised a further £2 million in funding. The round is led by Athens-based venture capital firm VentureFriends, and follows the proptech startup’s £850,000 “pre-seed” round nine months ago.

Founded in 2016 by Asaf Navot, a former Bain strategy consultant and INSEAD graduate, and Nick Binnington, a former British Army Captain and LBS graduate, Home Made’s proposition is based on the premise that the letting agent model is broken. Specifically, that high-street agents offer average service and charge extortionate fees, while online agents typically charge low fees but offer a worse service as a result.

The company positions itself as the only estate agency in the U.K. that offers a premium service akin to a high-end traditional estate agent, including accompanied property viewings and working until 10 pm at night, on weekends and bank holidays — for a low online fee starting at £948 +VAT. However, competitor Rentify also occupies a more upmarket space, but charges a monthly fee and is fully-managed and provides a ‘rent guarantee’. At the lower end are startups like OpenRent and uPad that operate more more an à la carte model with various services to help you rent out your property.

To that end, Home Made says it plans to use the new funding to expand its offering and further develop its underlying technology, focus on growing its customer base in London “and beyond”. This will include hiring 20-25 new sales and marketing staff in the coming months.

The company’s proprietary online platform allows landlords to manage their properties from marketing to move-in. This includes full control during the marketing phase – landlords can add or remove marketing photos on the portals, write or enhance existing descriptions and change the price – and visibility of progress during tenancy progression.
 
International expansion has also begin: Home Made recently opened an office in Athens and says it is looking to develop several company functions in the country, including lead generation, tech support, and customer service and support. The startup says it has selected Greece for its first international office primarily due to “the growing Greek startup ecosystem which offers access to high caliber talent with international experience”.

Meanwhile, Home Made recently announced the launch of Sentinel, a tool that detects illegal subletting by tenants via short-let websites such as AirBnB. The idea is to help landlords tackle a growing illegal subletting problem that sees “tenants” rent out properties with no intention of ever ever staying in the property.

This activity commonly violates the terms of a Tenancy Agreement, and may also violate the building lease, local authority regulations, buildings insurance, and mortgage terms. It also withdraws these properties from the market for long-
term tenants, which in turn contributes to rental increases in London.

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Watch biotech startups pitch at IndieBio’s demo day today

IndieBio, the biotech startup accelerator that’s produced heaps of notable companies (including several that have graced the Startup Battlefield), is holding its twice-annual demo day today at 3PM Pacific Time. An even dozen young companies will be pitching their work, from AI-informed research to artificial meat, and you can watch them present live right here.

The IndieBio program is a four-month one that takes companies at the seed stage, often researchers straight out of graduate programs or university research groups, and gets them into shape for a proper Silicon Valley debut. Right now the companies get $250K in funding to take part, as well as plenty of resources, which parent VC firm SOSV can surely afford these days, what with raising $150 million last year.

Off the top of my head I remember two companies that competed at Disrupt SF 2016, Amaryllis Nucleics and mFluiDx, both very technical and highly talented teams. I’m always rooting for these kinds of wet lab companies, and it sounds like the current batch has plenty.

Watch the live pitches starting at 3PM below, and consult the list below the video for a summary of the companies presenting. We’ll be watching too!

New Age Meats: Pig farms are hell on earth. New Age Meats is a “cell-based meat company” that’s looking to replace animal-based pork sausage with a cleaner, more ethical grown alternative that goes just as well with pancakes.

NovoNutrients: Another non-traditional protein source, NovoNutrients uses industrial CO2 emissions to produce high-protein bacteria, which are harvested and sold as sustainable feed stock for aquaculture animals like fish.

BioRosa: An early detection method for autism spectrum disorders using blood tests that could shift diagnosis time to well before the current four years of age to potentially before the child is born.

Chronus Health: Hospitals need to do blood tests constantly, but often have to send samples to a central lab, which can take hours or days. Chronus has made a portable device they claim can provide complete blood count and metabolic panel tests essentially in real time.

Clinicai: Colorectal cancer, like other cancers, is best treated when detected early — and collecting and analyzing stool samples is a big part of that. These guys made a (prototype) device that attaches to ordinary toilets and non-invasively does what it needs to do, which could help people worldwide get proactive diagnosis and care.

Convalesce: Parkinson’s is a stubborn and tragic disease, but Convalesce is working on a treatment method involving injecting stem cells directly into areas affected by neurodegeneration.

Oralta: You can floss, brush, and rinse, but bad news bacteria are still going to take up residence in your mouth. Oralta hopes to combat them with good bacteria, reinforced by probiotic supplements. Fight fire with fire!

Ember: If someone is having a heart attack and it’ll take the EMTs 8-12 minutes to arrive, but your neighbor is a nurse trained in CPR, wouldn’t it be nice if they could stop by and help? That’s the idea with Ember, which hopes to improve outcomes by connecting patients with health professionals nearby.

Filtricine: The cancer treatment method being pursued by this company, instead of adding something lethal to cancer cells into the bloodstream, subtracts what they need to live while leaving normal cells unharmed. It could combine effectiveness with a blessed lack of side effects to become another tool in oncologists’ arsenals.

Serenity Bioworks: Gene therapy is another important therapeutic tool for a variety of problems, but some viral delivery methods can be fought by the body as if it’s fighting infection. Serenity is working on a system that suppresses that immune response and allows the friendly virus to deliver its payload.

Quartolio: So much scientific literature is published every year that there’s no way doctors and researchers can keep up. Quartolio aims to apply national language processing to journal articles to find connections and research opportunities that might otherwise have gone unnoticed.

Stämm: Bioreactors are used in practically every branch of biotech, whether for testing or drug manufacturing. Stämm is advancing the art with a modular, scalable microfluidic platform with highly tunable physical and chemical parameters.

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TransferWise partners with Dutch challenger bank Bunq

TransferWise, the European fintech unicorn that enables low-cost international money transfer, has always had ambitions of being a platform in the truest sense. In addition to its direct-to-consumer app, the company offers an API for integration with other fintechs and banks, although it is fair to say that third-party integrations of this kind have been quite slow to come by. With that said, the number of third-party integrations appears to be picking up pace.

The latest bank to offer TransferWise functionality is Dutch challenger Bunq, which is enabling customers to make “fast, low-cost international payments” powered by TransferWise. Similar to other third-party integrations, the TransferWise feature sits within Bunq’s own app, giving users the “real exchange rate”, in addition to a small, transparent fee. At launch, 15 currencies are supported, and over the coming weeks more currencies will be added.

Back in June when TransferWise unveiled its partnership with fast-growing U.K. challenger bank Monzo, I asked co-founder and CEO Kristo Käärmann how different the conversation is with the challenger banks compared to longer established incumbents who historically have made a lot of revenue from foreign exchange fees. Perhaps being diplomatic, he argued that those conversations are quite similar, and usually centres on the fact that customers are already using TransferWise and that if a bank wants to put those customers first it makes sense to offer TransferWise functionality within its own app.

“When we announced the large French bank [BPCE Groupe], which is clearly an incumbent — a massive incumbent — they were thinking about their customer,” he told me at the time. “That maybe does feel a little bit rare for banks to think this way, but they figured that ‘if we are going to do this, then why don’t we do it properly’. They were actually fully driven by their users and thinking about how to get the best user experience”.

Cue a statement from Bunq founder and CEO Ali Nikna: “Our mission is to free our users from borders and barriers in traditional banking, such as hidden fees. We think TransferWise is a valuable addition to solidify that mission. This is the next big step in bringing freedom to the traditional banking industry”.

Meanwhile, the Bunq tie-in is TransferWise’s fifth bank partnership. In addition to Monzo, and upcoming integration with France’s BPCE, the international money transfer service has partnered with Germany’s N26, and Estonia’s LHV. However, a previously announced partnership with the U.K.’s Starling Bank never materialised and has since been disbanded.

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Photomath raises $6 million for its math-solving app

Photomath just raised a $6 million funding round from Goodwater Capital, with Learn Capital also participating. Photomath has created a hugely successful mobile app for iOS and Android with 100 million downloads so far.

Photomath first launched at TechCrunch Disrupt London back in 2014. The company was working on text recognition technology. Photomath was just a demo app to promote that technology.

But the startup accidentally created a consumer success. The app instantly attracted millions of downloads from many desperate students willing to learn math with their phones.

Years later it is still one of the most downloaded apps in the App Store and Play Store. And the reason it’s been so successful is that it’s a simple concept.

After downloading the app, you just have to point your phone at a math problem. It can be in a book, or it can recognize your own handwriting. The app then gives you a step-by-step explanation to solve the problem.

Combining these two things is what makes Photomath useful. WolframAlpha can solve equations, and Evernote can recognize your handwriting. But nobody thought about combining these things.

Typing an equation can be hard, so it makes a ton of sense to bridge the gap between the physical world and smartphones. Before everybody started talking about augmented reality, Photomath was already taking advantage of the system-on-a-chip in your phone.

Photomath is also capable of generating graphs and supports advanced problems, such as limits, integrations, complex numbers, etc. The app solves around 1.2 billion math problems per month.

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Lydia launches mobile phone insurance

French startup Lydia is launching an insurance product for your mobile phone. For €4.29 per month ($4.89), you can insure your phone from the Lydia app.

Lydia is one of the most popular peer-to-peer payment apps in Europe, with 1.5 million users. Think about it as a sort of Venmo or Square Cash for Europe. More recently, the company started offering more options to manage your money with a premium subscription and additional features.

While Lydia doesn’t want to replace your bank and insurance company, the company is offering an insurance product for the first time. Lydia is partnering with its investor CNP Assurances — having an insurance company as an investor has a few advantages.

So here’s what you get. You’re instantly covered against cracked screens, liquid damage and accidental damage. There’s no excess, but you’re limited to one claim per year. Phones now cost a small fortune, but you’re limited to €500 ($570) per claim.

Optionally, you can subscribe to a better insurance product for €9.99 per month ($11.39). In addition to phone insurance, your laptop, tablet, Nintendo Switch, Kindle, camera and other electronics are covered. You can make two claims per year and you can get back up to €500 for your phone and €1,800 for other devices. More importantly, you’re also covered against theft.

Many phone carriers sell mobile phone insurance. But they usually cost more than that. In most cases, you also need to subscribe for at least one year. In Lydia’s case, you can cancel your subscription whenever you want in the app.

If that product sounds familiar, it’s because Revolut offers a similar feature (with some drawbacks). You can subscribe to mobile phone insurance from Revolut’s mobile app.

Pricing isn’t as straightforward with Revolut, as Premium subscribers get a discount. For an iPhone X, the insurance product costs as much as €9.58 per month ($10.92) without a Revolut Premium account, or as little as €6.67 per month ($7.60) if you pay upfront and you have a Revolut Premium account.

It’s a 12-month contract with a €125 excess and no theft protection. You also need to start insuring your phone quickly after buying (within six months), otherwise you aren’t covered. Revolut works with Allianz and Simplesurance for this insurance product.

Lydia may have borrowed the idea from Revolut, but I’m not sure why you’d choose Revolut’s insurance product over Lydia’s product.

It’s interesting to see that fintech companies are creating alternative revenue streams with insurance products. Subscribing to an insurance product is quick and painless, as they already manage your money and have your card on file.

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Automakers invest in Transit, the app that helps people get around without a car

Transit, a company that built a mobile app designed to help people in cities live without cars, has raised $17.5 million from two automakers in a Series B round.

The round was led by RenaultNissan-Mitsubishi’s joint investment arm Alliance Ventures. InMotion Ventures, Jaguar Land Rover’s venture capital fund, also joined the round, as well as two past investors, Accel and Real Ventures.

RenaultNissan-Mitsubishi and Jaguar Land Rover’s investment would have seemed counterintuitive five years ago. But this is 2018. It’s the year of the scooter wars and micro-mobility; it’s also a time of transition for automakers that are looking to diversify their traditional business of building and selling cars.

Founded in 2012, Transit started as an app to help people check departure times for buses and trains. It’s grown into a mobile app platform that enables multi-modal transportation, integrating public transit, ride hailing, bike sharing and scooter sharing. The mobile app, which provides real­-time data from transit agencies with user crowdsourcing, gives users notifications from their ride. The app then tracks the real-time location of the vehicle and notifies the user when to leave for their stop, when to disembark. and sends adjusted ETAs. Transit is now used by transit agencies, including Boston’s MBTA, Baltimore’s MDOT MTA, Silicon Valley’s VTA, Tampa Bay’s PSTA and Montreal’s STM.

The company wants to be transit and company agnostic, so, it’s a big proponent of open APIs. Montreal, where the company is based, is a model of what Transit wants to be everywhere. In Montreal, people can use the app for car sharing, bike sharing, to order an Uber or use public transit, COO Jake Sion explained.

Transit, which operates in 175 cities globally, will use the injection of capital to scale operations and improve the platform by integrating various services and payment methods on the app.

“This investment, which will advance Transit’s efforts to make mobility seamless and accessible in cities, fits with the Alliance 2022 strategy to become a leader in robo-vehicle ride-hailing mobility services and a provider of vehicles for public transit use and car-sharing,” François Dossa, Alliance Global vice president of ventures and open innovation, said in a statement.

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Subterranean drone mapping startup Emesent raises $2.5M to autonomously delve the deep

Seemingly every industry is finding ways to use drones in some way or another, but deep underground it’s a different story. In the confines of a mine or pipeline, with no GPS and little or no light, off-the-shelf drones are helpless — but an Australian startup called Emesent is giving them the spatial awareness and intelligence to navigate and map those spaces autonomously.

Drones that work underground or in areas otherwise inaccessible by GPS and other common navigation techniques are being made possible by a confluence of technology and computing power, explained Emesent CEO and co-founder Stefan Hrabar. The work they would take over from people is the epitome of “dull, dirty, and dangerous” — the trifecta for automation.

The mining industry is undoubtedly the most interested in this sort of thing; mining is necessarily a very systematic process and one that involves repeated measurements of areas being blasted, cleared, and so on. Frequently these measurements must be made manually and painstakingly in dangerous circumstances.

One mining technique has ore being blasted from the vertical space between two tunnels; the resulting cavities, called “stopes,” have to be inspected regularly to watch for problems and note progress.

“The way they scan these stopes is pretty archaic,” said Hrabar. “These voids can be huge, like 40-50 meters horizontally. They have to go to the edge of this dangerous underground cliff and sort of poke this stick out into it and try to get a scan. It’s very sparse information and from only one point of view, there’s a lot of missing data.”

Emesent’s solution, Hovermap, involves equipping a standard DJI drone with a powerful lidar sensor and a powerful onboard computing rig that performs simultaneous location and mapping (SLAM) work fast enough that the craft can fly using it. You put it down near the stope and it takes off and does its thing.

“The surveyors aren’t at risk and the data is orders of magnitude better. Everything is running onboard the drone in real time for path planning — that’s our core IP,” Hrabar said. “The dev team’s background is in drone autonomy, collision avoidance, terrain following — basically the drone sensing its environment and doing the right thing.”

As you can see in the video below, the drone can pilot itself through horizontal tunnels (imagine cave systems or transportation infrastructure) or vertical ones (stopes and sinkholes), slowly working its way along and returning minutes later with the data necessary to build a highly detailed map. I don’t know about you, but if I could send a drone ahead into the inky darkness to check for pits and other scary features, I wouldn’t think twice.

The idea is to sell the whole stack to mining companies as a plug-and-play solution, but work on commercializing the SLAM software separately for those who want to license and customize it. A data play is also in the works, naturally:

“At the end of the day, mining companies don’t want a point cloud, they want a report. So it’s not just collecting the data but doing the analytics as well,” said Hrabar.

Emesent emerged from Data61, the tech arm of Commonwealth Scientific and Industrial Research Organisation, or CSIRO, an Australian agency not unlike our national lab system. Hrabar worked there for over a decade on various autonomy projects, and three years ago started on what would become this company, eventually passing through the agency’s “ON” internal business accelerator.

Data collected from a pass through a cave system.

“Just last week, actually, is when we left the building,” Hrabar noted. “We’ve raised the funding we need for 18 months of runway with no revenue. We really are already generating revenue, though.”

The $3.5 million (Australian) round comes largely from a new $200M CSIRO Innovation fund managed by Main Sequence Ventures. Hrabar suggested that another round might be warranted in a year or two when the company decides to scale and expand into other verticals.

DARPA will be making its own contribution after a fashion through its Subterranean Challenge, should (as seemly likely) Emesent achieve success in it (they’re already an approved participant). Hrabar was confident. “It’s pretty fortuitous,” he said. “We’ve been doing underground autonomy for years, and then DARPA announces this challenge on exactly what we’re doing.”

We’ll be covering the challenge and its participants separately. You can read more about Emesent at its website.

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Reverso launches synonyms app and service

Language learning company Reverso is launching a new product on the web and mobile. Reverso Synonyms is a thesaurus service that lets you learn new words and improve your vocabulary.

You may have found this feature in the main Reverso translation app already. If you translate a word or a group of words, there’s a tiny “S” button in the corner. It lets you access related words directly from the translation app.

But this was just a soft rollout, as the company is now expanding this feature into a full-fledged service. Reverso Synonyms works with a dozen languages, including English, French, Spanish…

It’s a pretty straightforward product. You can type a word and get a bunch of synonyms. You get examples and you can load the word definition for more details. You can also tap on any word to double-check the meaning.

But the service goes beyond that by offering slang translations and giving you analogies for words with multiple meanings. It also works with expressions of multiple words (“beside the point”). There will be a premium subscription with additional features.

Even more interesting than the product itself, Reverso came up with an interesting way to build a huge database in no time. Given that the company has been working for years on translation dictionaries, the company tapped this data to create a basic version of this new product.

There are 2 billion bilingual dictionary entries in Reverso Context. If two words have the same translation in multiple languages, chances are that they mean the same thing. Of course, this data has been adjusted since then with a refined algorithm and some human curation.

While Google Translate is still quite dominant in the dictionary space, Reverso manages to attract tens of millions of users every month, generating 450 million page views on the web alone. It’s an interesting startup story in a monopolistic space. While translation dictionaries will probably remain Reverso’s main product, it’s good to see some new features.

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