“The Unstoppable Trio: Valkey Redis Fork Receives Support from AWS, Google, and Oracle”

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The Linux Foundation last week announced that it will host Valkey, a fork of the Redis in-memory data store. Valkey is backed by AWS, Google Cloud, Oracle, Ericsson and Snap. AWS and Google Cloud rarely back an open-source fork together. At the time, Redis said that despite this change for the modules, “the license for open-source Redis was never changed. This fork originated at AWS, where longtime Redis maintainer Madelyn Olson initially started the project in her own GitHub account.

€300M Climate Fund Seeks Follow-On and Supports Hardware: World Fund’s Inaugural Closure

World Fund Team
If you’re looking for comparisons, Norrsken VC is a $130 million impact VC that covers climate, while Demeter Partners last raised a €250 million fund focused on climate. World Fund is also backed by pension funds including the UK Environment Agency Pension Fund, Wiltshire Pension Fund, and Croatia’s Erste Plavi. World Fund has completed its raise during a war in Europe, interest rate rises, and jittery LPs. In 2023 there was over $20 billion raised by European climate tech startups, almost matching the previous year, and bucking declining trends in other sectors, according to Dealroom. The U.K., Sweden and Germany led for total climate tech VC in 2023 but Iceland, Lithuania and Bulgaria showed notable growth.

Accel India backs Nanonets to enhance AI-driven workflow automation

Nanonets Founders
Nanonets, which primarily targets the financial services sector, says its AI platform aims to improve the efficiency of these processes and make them cost-effective. The company’s AI platform uses machine learning architectures to analyze unstructured data from uploaded documents and extract useful information. Nanonets is not alone in the global market for AI-based workflow automation. Consistent revenue growth is one reason investors have been investing in AI startups despite the slowdown in global markets. AI startups in the U.S. receive the most investments, followed by companies in China, U.K., Israel and India.

“Yuno, the LatAm Fintech Phenomenon: Reaches $150M Valuation Thanks to Support from DST, Tiger, and a16z in Just 2 Years”

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A couple of years ago, payments orchestration was a foreign term to many large companies Juan Pablo Ortega would speak to. Today, Yuno has facilitated transactions in over 40 countries worldwide and is working with enterprise clients like McDonald’s, Rappi, Avianca and inDrive. The global payments orchestration market is forecasted to reach nearly $7 billion in value by 2032. Many of Yuno’s competitors focus on solving payment orchestration for small and medium businesses, and not many were building the infrastructure for large enterprises, Ortega says. That new round of capital gives Yuno a valuation of $150 million, Ortega said.

Nigerian Startup Bfree Secures $3M Investment to Support Ethical Debt Recovery for Lenders

Bfree, a tech-enabled debt collection startup based in Nigeria, was founded to automate and introduce ethical debt recovery processes after its founders witnessed the use and adverse effects of aggressive retrieval techniques, such as incessant calling and debt-shaming, by predatory digital lenders. It also launched a loan collection management SaaS dubbed Workflow, which targets companies with in-house collection teams or those that are not keen to outsource. Bfree to create secondary market for loansIts current loan portfolio stands at over $400 million, out of which it has managed to collect 12.5%. He added that they also have an analytics solution for banks to help them gain insights into secondary debt markets. “We foresee the growing prominence of credit management and are confident that Bfree will spearhead the creation of a secondary market on the continent for distressed assets.

“Soum receives $18M in funding to expand in the MENA region as a re-commerce leader”

Soum Cofounders Bader Almubarak Fahad Alhassan And Fahad Albassam Min
The global re-commerce market is poised for growth as consumers increasingly settle for pre-owned goods to save on cost, and as some observe conscious consumption. With the global re-commerce market expected to continue its growth spurt, C2C marketplaces like Saudi Arabia’s Soum are looking to capture users in the Middle East and North Africa (MENA) region. Soum was founded in the Kingdom of Saudi Arabia in 2021, and is now eyeing growth expansion to other MENA countries, beginning with the United Arabs Emirates. Beyond expansion, the startup, whose top listings are electronics, is also increasing the categories it covers by including products like automobiles and collectibles. This is the preposition that Soum brings to the table.”Soum manages the entire process from listing to delivery.