Sunday, May 31, 2020

Singapore’s micromobility startup Beam raises $26 million

Beam, a Singapore-headquartered micromobility firm that offers shared e-scooters, has raised $26 million in a new financing round as it looks to expand its footprint in Korea, Australia, Malaysia, New Zealand, and Taiwan.

Sequoia India and Hana Ventures led the two-and-a-half-year-old startup’s Series A financing round, while several more investors from Asia Pacific region participated, Beam said without disclosing their names. The startup has raised $32.4 million to date, a spokesperson told TechCrunch.

Beam, like Bounce and Yulu in India, offers electric scooters in the aforementioned five markets. Electric and gasoline scooters have become popular in several Asian nations and elsewhere as people look for alternative transportation mediums to move around faster and at less cost.

While these vehicles make inroads into various markets, it’s also not uncommon to find these scooters abandoned carelessly in the streets. Beam said unlike other startups, it incentivizes its riders through in-app offers to park the scooters at predetermined spots.

“I’m really excited about our new technology and its ability to reduce the problems associated with randomly scattered scooters around a city. This helps us to further improve our industry-leading vehicle retention rates, reduce operational costs, and most importantly, benefits communities by keeping city streets neater,” said Beam co-founder and chief executive Alan Jiang.

Beam, which did not disclose how many customers it has amassed, will use the fresh capital to grow its operational and engineering focus and grow deeper in its existing markets, it said. It will also “accelerate” the launch of its third-generation e-scooter, the Beam Saturn, which features swappable batteries, improved build, to more markets, it said.

Abheek Anand, Managing Director at Sequoia Capital India, said Beam’s collaboration with regulators, technology, and insights into the transportation landscape stand to give it an edge in the Asia Pacific region.

The startup’s fundraising comes at a time when many young firms, especially those operating in transportation category, in Asia are struggling to raise capital. Beam said it had implemented stringent cleaning and operations practices to limit the possibility of virus transmission to allay riders’ concern.

Tia Health, the developer of a network of digital wellness apps, clinics, and telehealth services focused on women's health, raises $24M Series A (Jonathan Shieber/TechCrunch)

Jonathan Shieber / TechCrunch:
Tia Health, the developer of a network of digital wellness apps, clinics, and telehealth services focused on women's health, raises $24M Series A  —  Tia Health, the developer of a network of digital wellness apps, clinics and telehealth services designed to treat women's health holistically …



These are the 10 biggest shareholders of Indian IT giant TCS

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Twitter had been drawing a line for months when Trump crossed it

Tensions between Twitter, where Dorsey is chief executive, and Trump had been running high for days over the president’s aggressive tweets and the company’s decision to begin labeling some of them. https://ift.tt/3eBwxqN https://ift.tt/eA8V8J

Facebook Shops integration with Shopify is good for Shopify merchants, but using Facebook Checkout limits the upside of Shopify's own payments offering (Ben Thompson/Stratechery)

Ben Thompson / Stratechery:
Facebook Shops integration with Shopify is good for Shopify merchants, but using Facebook Checkout limits the upside of Shopify's own payments offering  —  In the month since I wrote The Anti-Amazon Alliance, there has been two significant announcements from two of the principals in that alliance:



A look at recent statements by tech companies, including Amazon, T-Mobile, Microsoft, and others, regarding racism in America (Taylor Soper/GeekWire)

Taylor Soper / GeekWire:
A look at recent statements by tech companies, including Amazon, T-Mobile, Microsoft, and others, regarding racism in America  —  Comments Share 70 Tweet Share Reddit Email  —  Seattle tech giants Amazon and Microsoft issued statements this weekend in response to the outrage and protests …



Why Sunil Bharti Mittal should seek out Google's Pichai, Page & Brin

After a tepid start, of late, Bharti too has been bulking up its digital assets incrementally. https://ift.tt/2XlvJRh https://ift.tt/eA8V8J

Paytm Mall appoints Abhishek Rajan as COO, moves to Bengaluru

Paytm Mall plans to hire over 300 people for product and technology roles as it aims expansion across business categories https://ift.tt/2Bfniy5 https://ift.tt/eA8V8J

E-commerce firms test waters with sober discounts

Small-scale promotions appear on platforms to spur demand, a sign of normalcy returning to a sector driven by discounts https://ift.tt/2XQwhO3 https://ift.tt/eA8V8J

US moves closer to visa fee hike

The US Citizenship and Immigration Services (USCIS) submitted the proposal to the White House Office of Immigration and Regulatory Affairs. https://ift.tt/3dlwoaT https://ift.tt/eA8V8J

Flipkart elevates five senior executives to senior vice president

These promotions brings the total number of executives at the level of Senior Vice President to 14 in the homegrown e-tailer https://ift.tt/2XO3lWP https://ift.tt/eA8V8J

TikTok owner ByteDance to set up another corporate entity in India

The new entity is likely to provide Information Technology and IT-enabled services support to all of ByteDance's platforms worldwide https://ift.tt/36PunS0 https://ift.tt/eA8V8J

Tim Cook, in a memo to staff addressing racism in US, says Apple will give to non-profits like Equal Justice Initiative, match staff donations 2-to-1 in June (Mark Gurman/Bloomberg)

Mark Gurman / Bloomberg:
Tim Cook, in a memo to staff addressing racism in US, says Apple will give to non-profits like Equal Justice Initiative, match staff donations 2-to-1 in June  —  - Tim Cook writes letter to employees after George Floyd killing  — Apple donating to equal justice, human rights groups, CEO says



Indian smartphone market to decline by 13-15%

IDC has now projected the smartphone market in India could hit as low as 130 million handsets as compared to earlier estimate of 140 million. https://ift.tt/3eAffKM https://ift.tt/eA8V8J

Our grimdark meathook cyberpunk now

Ten years ago, the joke was: “It’s weird how, once everyone started carrying phones with cameras all the time, UFOs stopped visiting, and the cops started beating everyone up.” It was darkly funny, then. Now it feels something more like despairing.

Imagine pitching today as a setting for science fiction, back then:

The year is 2020. A pandemic that will kill millions ravages the planet. America is masked: some because of the new virus, others as a ward against police surveillance. A global wave of implicit & explicit xenophobia and white supremacy has carried the UK out of Europe, and a narcissistic reality TV star to the presidency, where he fans the flames of America’s rampant police violence, and spars incoherently with the billionaires who control the tech megacorps that dominate the Internet and the economy. Meanwhile, America’s techno-militarized law enforcement agencies use drones, networked cameras, AI-powered facial recognition, and other police-state innovations to aid them in their running battles against an insurgent population which increasingly no longer sees them as legitimate.

If you had pitched today only ten years ago, you would have been asked with genuine confusion whether it was intended as satire–and then, very possibly, more gently, if everything was OK at home. Yet here we are.

Six years ago I wrote a piece, “The techno-militarization of America” which concluded that “in juicing [the police] with the steroids of military technologies, rules, and attitudes, we have transformed them into a cure almost worse than the disease.” Looking back now, that ‘almost’ seems embarrassingly naïve.

I’ve seen multiple independent sources refer to the events of this week as a ‘legitimacy crisis,’ triggered by a common-knowledge collapse: a moment when everyone realizes that a belief they did not speak about, thinking it fringe and wild, is in fact also held by an enormous number of their peers. Nine years ago, when it was still possible to be optimistic about the effect Facebook would have on society, that sort of collapse is believed to have triggered the Arab Spring.

Here, the cultural collapse appears to be precipitating around the concept “all cops are bastards.” Once that catchphrase was something I only heard from my furthest of far-left punk and anticapitalist acquaintances. Let’s just say that the line of demarcation has moved in towards the mainstream a lot. As in the Arab Spring, this apparent common-knowledge collapse was catalyzed by a single awful death, then spread with remarkable speed, fueled in large part by social media.

Of course America is a huge and diverse place which includes many communities who have long–understandably–viewed the police as an illegitimate occupying army. (Often literally: “In about two-thirds of the U.S. cities with the largest police forces, the majority of police officers commute to work from another town.”)

What’s different is that this attitude seems to be accelerating nationwide. A few random examples from my own social media of late include — all white, since it matters — a battery researcher, a rocket technologist, and a middle-aged Minnesotan mother of teenagers describing the Minneapolis police as “a suburban occupying force.”

Those are anecdotes, so here’s some data: in 2007, Pew Research reported that 37% of black Americans, and a whopping 74% of white Americans, had “a great deal” or “a fair amount” of confidence in police to “treat races equally.” If you add those who indicated “just some” confidence, those numbers go up to 51% and 82%.

Twelve years later, the numbers who said that Americans of all races are generally treated fairly equally by police had fallen by more than half, to 16% and 37% respectively. In 2017, a sizable majority of all Americans agreed that “the deaths of blacks during encounters with police during recent years are signs of a broader problem”–while 72% of white police officers disagreed.

What do you think those numbers would be today? Given the scale of the disagreement, and the rapid loss of faith, is the prospect of a sudden legitimacy collapse really so surprising?

You’ll note that the Arab Spring didn’t last long, and was ultimately followed by bitter winter (except arguably in Tunisia where it began.) I’m not especially optimistic that this will be a profound national turning point in America. But I am hopeful it may shake the attitude among county and city governments that police and police unions should be treated as a local Praetorian Guard, to whom is owed unquestioning gratitude, a blind eye when a body camera happens to wink off before a suspect suffers an injury or death, and zero or toothless civilian oversight.

I’ve been to a lot of countries whose police are not perceived as legitimate; where it’s widely understood, across disparate communities, that whatever the situation, you think twice before involving the cops, because they’ll very likely just make things worse. America feels increasingly like such a country. Let’s hope the de-techno-militarization, and de-white-supremacization, of law enforcement happens before the nation spins into that kind of vicious cycle … because once there, it’s terrifyingly hard to break free. After the events of last night, you have to at least wonder whether it’s already too late.

Russia's finance minister says Russian companies have begun using bitcoin and other digital currencies in international payments to counter Western sanctions (Gleb Bryanski/Reuters)

Gleb Bryanski / Reuters : Russia's finance minister says Russian companies have begun using bitcoin and other digital currencies in i...