R|T: The Retail Times – Shopify goes for a Loop


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Paystone secures $30 million from Crédit Mutuel Equity as part of plan to expand beyond North America (BETAKIT)

The all-equity round comes about six months after Paystone raised $69 million CAD from the Canadian Business Growth Fund and National Bank of Canada, and brings Paystone’s total institutional funding to $99 million.

Uber’s freight unit to buy logistics tech firm Transplace for $2.25 billion (WALL STREET JOURNAL)

The combination is aimed at expanding Uber’s delivery business and reach into industrial shipping services in the U.S. The same week, Uber’s stake in Didi shrank by $2 billion amid China’s crackdown on U.S. listings.

Shopify invests in US-based Loop’s $65 million round (BETAKIT)

Loop marks the latest investment for Shopify, as the Canadian e-commerce giant accelerates its acquisition and investment strategy.

Rivian raises $2.5 billion in new funding round led by Amazon, Ford (CNBC)

The electric vehicle startup said it has raised about $10.5 billion since 2019.

Technical debt: the other innovator’s dilemma (BETAKIT)

Microsoft Canada CSO Kevin Magee argues startup founders need to prioritize security, privacy, and compliance from the start, lest they come back to haunt them.

Indian food delivery startup Swiggy raises $1.25 billion led by SoftBank and Prosus (TECHCRUNCH)

It took SoftBank several years, but the Japanese investment giant is now ready to bet on India’s food delivery market.

Brokrete secures $2.7 million CAD, launches e-commerce platform for construction suppliers (BETAKIT)

The all-equity round, which Brokrete referred to as oversubscribed, was led by European VC firm Xploration Capital and supported by new strategic investors and key employees.

Shares of Indian food delivery startup Zomato jump over 80% in market debut (CNBC)

Shares of Indian food delivery startup Zomato jumped as high as 82% during its market debut.

Canvaspop acquired by HIG Capital-owned Circle Graphics (BETAKIT)

Canvaspop declined to reveal the financial terms of the deal, but told BetaKit the final outcome was “very well received” by the startup’s institutional and angel investors and board of directors.

Filing: Instant grocery startup Gopuff to raise $1B on a $15B post-money valuation (TECHCRUNCH)

Documents uncovered by Prime Unicorn Index and shared with TechCrunch show that the startup has filed papers in Delaware to raise up $1 billion raise at a $14 billion pre-money valuation, $15 billion post-money.

What to do when over 300,000 people count on your old code for their pension (BETAKIT)

BetaKit spoke with the Jonah Group about completing a massive digital transformation project for a major Canadian pension plan during a global pandemic.

SoftBank-backed Lenskart raises $220 million as India tech booms (BNN BLOOMBERG)

India’s Lenskart, an online retailer for eyewear, raised $220 million from investors including Temasek Holdings Pte and Falcon Edge Capital, in another sign of booming interest in the country’s technology startups.

Foodee acquired by global food service company Sodexo (BETAKIT)

As part of the Sodexo deal announcement, Foodee also announced it is increasing its geographic footprint over the next year to more cities in the US and Canada, including New York City, Los Angeles, Dallas, and Montréal.

Josh Scott

Josh Scott

Josh Scott is a BetaKit reporter focused on telling in-depth Canadian tech stories and breaking news. His coverage is more complete than his moustache.

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