Spark, a Silicon Valley-based startup that makes applications for mobile devices Arpereztechcrunch, is looking to expand into consumer marketplaces. The company has been working with venture firms to get into this market and has acquired Beam and Slite, two apps that offer a user-friendly experience. They have also launched Unshackled Ventures, an accelerator program.
Beam is a Singaporean shared micromobility operator that has raised $135 million in funding. The company operates e-scooters and e-bikes in 35 cities in six countries, and plans to expand to more markets. Its vehicles are operated on a platform called Micromobility Augmented Riding Safety, which allows pedestrians to safely interact with the vehicle giveme5.
The company has had a hard time scaling up, but its revenue has grown 15 times since 2020. In addition, it recently launched a new safety platform, which enables local governments to track and control the behavior of its e-vehitian Jiang. Drover AI, a developer of artificial intelligence systems for the transportation industry, also participated in the development of the new safety features.
A new fund aimed at immigrant entrepreneurs in the making has launched with a bang. Founded by Nitin Pachisia, Unshackled Ventures has tapped the services of former PayPal executive Jerry Yang. The funds will be used to invest in the next generation of technology startup founders. It is a slick little operation with a streamlined set of checks and balances in place to ensure that each investment dollar is spent in the best interest of all parties.
The company has raised $30 million to date. The fund topped the previous record holder by some $15.5 million. Despite a tough business climate and a less than stellar economic recovery, a lot of money is still able to be pumped into the entrepreneurial ecosystem.
Seven Seven Six
Seven Seven Six is a start-up venture capital firm founded by Reddit co-founder Alexis Ohanian and his longtime collaborators. It’s a software enabled venture capital firm based in Palm Beach Gardens, Florida. As of late, it manages 38 portfolio companies. Among its many notable deals is a $100 million investment in Solana, a blockchain startup that makes social media projects. In February of 2022, the firm announced a $510 million second fund.
Ohanian and his colleagues are launching a new fund, one that will be the first of its kind. The most impressive thing about the fund is that it is made up of more than half women and more than a quarter black folks. Several women are in the executive suite, including founder Katelin Holloway.
Spark’s interest in consumer marketplaces
Amazon has launched a new social feed called “Amazon Spark”. It’s like Instagram, except you’re a Prime member. You get to select your interests and explore trending posts. If you find something you’re interested in, you can buy it instantly.
The goal is to give customers a personalized, social shopping experience. And retailers can use Spark to make that happen. This will also allow them to better connect with their customers.
The feed is filled with images of products that are related to the users’ interests. For example, if a user likes fitness, they’ll see posts about running shoes. They can click on the photo to see more of the product.