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Suborbital space tourism finally arrives | FCC prepares to run public C-band auction | The big four in the U.S. launch industry — United Launch Alliance, SpaceX, Blue Origin and Northrop Grumman — hope to be one of two providers that will receive five-year contracts later this year to launch national security payloads starting in 2022. | China’s launch rate stays high | The International Space Station is the largest ever crewed object in space.

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Teen banking service Step raises $100M Series...

April 27, 2021

Step, the digital banking service aimed at teens and endorsed by TikTok star Charli D’Amelio, announced this morning the close of a $100 million round of Series C funding after growing to over 1.5 million users just six months after launch. The new round, led by General Catalyst, comes shortly after Step’s $50 million Series B, announced at the end of last year after the startup hit half a million users in only two months post-launch. The new round...

Mobile bank Current raises $220 million Series...

April 27, 2021

U.S.-based challenger bank Current, which has now grown to nearly 3 million users, announced this morning it has raised a $220 million round of Series D funding, led by new investor Andreessen Horowitz (a16z). The funding swiftly follows Current’s $131 million Series C at the end of last year, at which point the company had doubled its user base over just six months to over 2 million users. As a result of the new roud, the fintech company has...

Founders who don’t properly vet VCs set...

April 26, 2021

Andrés Dancausa Contributor Andrés Dancausa is fund partner, EMEA for operator-led international investors TheVentureCity. Before entering the world of VC, he was the CEO of a Spanish fintech company and launched his own startup in the edtech space. There’s a disconnect between reality and the added value investors are promising entrepreneurs. Three in five founders who were promised added value by their VCs felt duped by their negative experience. While this feels like a letdown by investors, in reality,...

How Brex more than doubled its valuation...

April 26, 2021

Brex, a fintech company that provides corporate cards and spend-management software to businesses, announced earlier today that it closed a $425 million Series D round of capital at a valuation of around $7.4 billion. The new capital came less than a year after Brex raised $150 million at a $2.9 billion pre-money valuation. So, how did the company manage to so rapidly boost its valuation and raise its largest round to date? TechCrunch spoke with Brex CEO Henrique Dubugras...

n8n raises $12M for its ‘fair code’...

April 26, 2021

As businesses continue to look for better ways to work more efficiently, a pioneer in the space of low-code tools to help automate how apps work together is announcing a round of funding on the back of impressive early traction. Berlin-based n8n — which provides a framework for both technical and non-technical people to synchronize and integrate data and workflows — has raised a $12 million in a Series A round of funding. The startup plans to use the...

Crusoe Energy is tackling energy use for...

April 26, 2021

The two founders of Crusoe Energy think they may have a solution to two of the largest problems facing the planet today — the increasing energy footprint of the tech industry and the greenhouse gas emissions associated with the natural gas industry. Crusoe, which uses excess natural gas from energy operations to power data centers and cryptocurrency mining operations, has just raised $128 million in new financing from some of the top names in the venture capital industry to...

What the MasterClass effect means for edtech

April 24, 2021

MasterClass, which sells a subscription to celebrity-taught classes, sits on the cusp of entertainment and education. It offers virtual, yet aspirational learning: an online tennis class with Serena Williams, a cooking session with Gordon Ramsay. While there’s the off chance that an instructor might actually talk to you — it has happened before — the platform mostly just offers paywalled documentary-style content. The vision has received attention. MasterClass is raising funding that would value it at $2.5 billion, as...

This Week in Apps: An Apple event,...

April 24, 2021

Welcome back to This Week in Apps, the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy. The app industry is as hot as ever, with a record 218 billion downloads and $143 billion in global consumer spend in 2020. Consumers last year also spent 3.5 trillion minutes using apps on Android devices alone. And in the U.S., app usage surged ahead of the time spent watching live TV. Currently, the average American watches 3.7 hours...

8 investors, founders and execs predict cybersecurity,...

April 24, 2021

Things have been looking up for Belfast since the end of the Troubles. The city has undergone infrastructure improvements over the past two decades, tourism has boomed thanks to attractions such as the shipyard where the RMS Titanic was built and Game of Thrones shooting locations, and employment has risen steadily in the city since 2016, according to Northen Ireland’s Department for the Economy. The city also has the famed Queen’s University and low living costs to count in...

Bobby Goodlatte has designs on how to...

April 23, 2021

Bobby Goodlatte has only been an investor for about a decade, but he appears to have already made tens of millions of dollars, contrary to the expectations of some traditional VCs who have privately, and publicly, griped that too many novice investors have flooded into the industry. “I remember a very prominent investor saying at the time, ‘All these new angel investors, they’re all going to lose all their money; they’re fools for doing this’,” recalls Goodlatte, who was...

Daily Crunch: Meet Disney Imagineering’s new robot

April 23, 2021

We get up close with a robotic Groot, SpaceX has a successful astronaut launch and cryptocurrency prices tumble. This is your Daily Crunch for April 23, 2021. The big story: Meet Disney Imagineering’s new robot Disney Imagineering’s Project Kiwi represents a real robotics milestone — a free-walking robot that seems to fully capture the personality of the original character. In this case, the original is Groot, the beloved tree character from “Guardians of the Galaxy.” I’m not just saying...

Two investors weigh in: Is your SPAC...

April 23, 2021

Hope Cochran Contributor Hope Cochran is an investor at Madrona Venture Group, where she invests in early-stage fintech and ML/AI applications for the business environment. Ishani Ummat Contributor Ishani Ummat is an investor at Madrona Venture Group who focuses on sourcing and evaluating new investment opportunities, as well as supporting the growth and strategy of current portfolio companies. This past year has brought many new developments to a historically traditional process: taking a company public. Many of the standard...

Crypto market takes a dive with Bitcoin...

April 23, 2021

Cryptocurrency prices continued to tumble Friday with Bitcoin leading the charge, with prices for the internet currency dipping below $50,000 for the first time since early March. Bitcoin is down roughly 20% week-over-week, around 30% from its all-time high of nearly $65,000 early last week. The market cap of the coin has dipped below $1 trillion. The tumble has been less severe for Ethereum, which hit an all-time high just yesterday but has since dropped 13% as the broader...

Should you give an anchor investor a...

April 23, 2021

David Teten Contributor More posts by this contributor Should you give an anchor investor a stake in your fund’s management company? Does your VC have an investment thesis or a hypothesis? Raising capital for a new fund is always hard. But should you give preferential economics or other benefits to a seed anchor investor who makes a material commitment to the fund? These “VCs for investment management companies” are also known as GP stake investors or fund platforms. According...

After going public, once-hot startups are riding...

April 23, 2021

To close out the week, a short meditation on value, or, more precisely, how assets are valued in today’s markets. Do you recall the pre-direct-listing hype Coinbase enjoyed? After reporting its estimated first-quarter financial performance, interest in the domestic cryptocurrency trading giant ran red-hot. When Coinbase set a $250 per-share direct listing reference price, it was broadly viewed as modest, if not downright low. Of course, a reference price is just that — a reference — so it wasn’t too...

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