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Shopify makes strategic investment in US AI recommendation startup Crossing Minds (BETAKIT)
Fjolla Bakalli, Shopify’s manager of corporate development and strategic initiatives, said in a press release statement that the company’s strategic investment in Crossing Minds will help Shopify merchants “meet customer’s evolving needs” by providing product recommendations and personalized experiences.
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Shopify reportedly in talks to buy tech startup Deliverr (BNN BLOOMBERG)
Shopify is in talks to buy technology startup Deliverr, according to Bloomberg, a move that would help the Canadian e-commerce giant expand in fulfillment services. Meanwhile, The Information has reported that Shopify has been butting heads with Facebook owner Meta amid ad-mageddon.
How Lending Loop pivoted from peer-to-peer lending to a cross-border banking platform for e-commerce (BETAKIT)
Lending Loop’s business took another hit when the federal government started doling out loans for small businesses through a variety of programs, which made Lending Loop’s ability to provide meaningful capital challenging, Pastoll told BetaKit in an interview.
Unbreakable pantyhose maker Sheertex raises $101-million led by retail giant H&M to expand business (THE GLOBE AND MAIL)
A Montréal company trying to upend the global pantyhose business by making an “unbreakable” product has raised $101 million led by Swedish retail giant H&M Hennes & Mauritz AB.
Amazon opens up Prime delivery service to other retailers in its latest move to compete with FedEx and UPS (CNBC)
The company on Thursday launched a new service, Buy with Prime, that lets third-party merchants use Amazon’s vast shipping and logistics network to fulfill orders on their own sites, while also appealing to Amazon’s 200 million-plus Prime customers.
Toronto venture funding continued to reach new heights in Q1 2022, but tech valuations may be due for a cooling (BETAKIT)
Toronto’s tech sector once again swept venture funding records away in Q1 2022, but showed signs it may cool off in the coming quarters. Meanwhile, the first quarter also saw Alberta’s tech sector set a new venture funding record, British Columbia see strong results, while Waterloo Region “moved in the right direction,” according to new reports from briefed.in.
Digital Freight Service Convoy Hauls In $260 Million To Build Out Trucking Platform (FORBES)
Convoy, a digital platform to make trucking more efficient, said it’s raised an additional $260 million to build out its service as inflation and higher fuel prices push shippers and freight brokers to find more efficient ways to move goods.
Instabox packs up $190 million, officially stamps the unicorn club card (TECH EU)
Sweden’s Instabox has raised $190 million in a growth equity round. The automated parcel locker service will use the new capital to further invest in sustainable solutions, refine its tech stack, and press forward with European expansion plans. To date, Instabox has raised approximately $327 million.
Shopify proposes governance changes to protect CEO Tobi Lütke’s voting power (BETAKIT)
If approved by shareholders, the proposal will modernize Shopify’s governance structure and allow Shopify to remain “mission-driven and merchant-obsessed” while sustaining an innovative culture, the company said.
Sequoia, Prosus Back Saudi Food Startup Raising $170 Million (BNN BLOOMBERG)
Sequoia Capital India and Prosus NV have backed a $170 million funding round for Saudi Arabian food and beverage technology startup Foodics, as global investors increasingly seek to back fast-growing firms in the Middle East.
Just Eat Takeaway is exploring a sale of Grubhub barely a year after buying the company (CNBC)
European food delivery giant Just Eat Takeaway.com said it’s considering a sale of Grubhub, its U.S. arm, after facing pressure from investors to explore strategic deals.
Boxhub closes Delivery Hero CEO-led $2.7 million seed round (BETAKIT)
Boxhub’s financing also saw participation from Conrad Whelan, founding engineer of Uber; David Helgason, founder of Unity Technologies; and Innoport; as well as angel investors Esther Dyson and Charlie Songhurst, among others.
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