Tuesday, August 16, 2022

New-age insurtech startup upcover raises 4.7 million in seed funding

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upcover announced it has secured $2.7 million equity and $2m debt in a $4.7m seed round. With backing from industry heavyweights, the trailblazing insurtech startup is simplifying, digitising and democratising a heavily regulated industry that has been stagnant for years.

Fintech Unicorns grew by 330% in numbers in the last 18 months

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The number of startups, qualifying as Unicorns (valued at over $1 billion USD) has grown significantly in the last year and a half. The exact percentage of Unicorn growth in numbers since 01/01/2021 comes to 162% with 707 new unicorns emerging in that period. Up until the end of 2020, the total headcount of the mythical herd was just 436.

The benefits and challenges of switching to a Multicloud strategy

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In a Multicloud setting, a firm relies on more than one provider for cloud services, whether public or private. “That sounds a lot like hybrid cloud?” you might ask. Yes, but only if the different cloud providers’ services are connected by integration or a form of orchestration.

Northern Trust Asset Management creates quantitative specialists team

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Northern Trust Asset Management, global investment managers, has created a team of quantitative specialists focused on Asia-Pacific, based in Melbourne and Hong Kong. Leading the newly created team, is Scott Bennett who has been named as head of quantitative investment solutions, Asia-Pacific, and joins Northern Trust Asset Management’s Asia-Pacific executive group.

Australia’s digital gifting platform, Prezzee eyes stock-market float

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Sydney-based Prezzee is considering a stock-market float as it seeks to capitalize on investor attention in the payments industry. Prezzee sells digital gift cards for retailers globally, including Amazon, Apple, and David Jones and is looking into funding options which could include an initial public offering, in light of Square Inc.'s planned US$29 billion acquisition of Australian payments company Afterpay Ltd.

Australian biotech firm CSL completes the acquisition of Vifor Pharma AG

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CSL Limited is pleased to announce it has now received all necessary regulatory clearances for the acquisition of Vifor Pharma AG (Vifor) initially announced on 14 December 2021. CSL has set the settlement date of the public tender offer for Vifor for 9 August 2022. If the offer conditions that remain in effect until the settlement remain fulfilled until that date, shareholders who accepted the offer will receive the offer price for each share tendered into the offer on the settlement date, subject to the terms of the offer. CSL anticipates that it will hold more than 97% of Vifor Pharma AG shares upon the settlement of the offer and intends to have Vifor apply for the delisting of the Vifor Pharma AG Shares after the settlement.

Fast-growing fintech Scalapay funds new UOW engineering scholarship

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Local entrepreneurs call it Siligong Valley – and they are definitely onto something. With its high-speed communications, world-class university and close proximity to Sydney, Wollongong is the ideal location for businesses looking for access to highly-skilled staff. 

Juniper Networks announces strategic deal with PP Telecommunication

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Juniper Networks (NYSE: JNPR), a secure AI-driven networks firm, announced that it has been selected by PP Telecommunication Sdn. Bhd. (PPTEL), a network service provider based in Sarawak, to provide solutions to build a core network that will support its growth plans. This network will provide the foundation to help PPTEL meet the demand for critical high-speed internet connectivity, enabling consumers access to richer digital experiences.

Batch Brewing launches equity crowd fund surpassing AU$1.1m in funding

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Batch Brewing Co launched its equity crowdfunding campaign with Equitise raising up to AU$1.5 million. With two breweries in Sydney plus distribution in venues and bottle shops, the company reached AU$1.1 million in funding from beer enthusiasts and keen investors

Simpleview launches study on digital transformation in tourism sector

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Simpleview, in conjunction with Karen Bolinger Consulting, conducted a global survey into the current digital landscape, finding the visitor economy is not keeping pace with other industries and is fuelled by low digital literacy within organisations and stakeholders.