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Online car retailer Clutch secures $60 million (BETAKIT)
Clutch has raised $60 million in financing to continue with the expansion of its online car retailer platform.
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How did Facedrive, a tiny Canadian tech startup, become a multibillion-dollar company? (THE GLOBE AND MAIL)
Its stock has soared as it has branched into everything from COVID-19 contact tracing to ride sharing – yet it’s also a small company with meagre revenue and no high-profile venture capital behind it.
Despite its best efforts, Walmart’s e-commerce is still a fraction of Amazon’s (FORTUNE)
What’s more, eMarketer expects Amazon, which already generates almost 40% of all e-commerce stateside, to win more market share.
Second Closet secures $20 million as it shifts focus away from self-storage towards B2B third-party logistics (BETAKIT)
With more than $35 million in total funding to date under its belt, Second Closet is now ready to focus solely on its B2B offering.
Glovo raises €450m in Spain’s biggest ever startup funding round (SIFTED)
Glovo’s latest funding round comes as on-demand delivery competition is hotting up and regulators are closing in.
Why Amazon-backed food delivery app Deliveroo flopped in its market debut (CNBC)
Deliveroo has been plagued by worries over the risks to its business model if regulators crack down on the gig economy, not to mention the fact that many riders’ earnings per session fall short of minimum wage. Despite this, Deliveroo is still looking to rent even more ghost kitchens.
Squarespace buys restaurant tech startup Tock for $400 million (BNN BLOOMBERG)
The acquisition helps Squarespace, which is known for helping consumers build websites, move into the hospitality technology space.
On-demand delivery platform Tyltgo raises $2.3 million to accelerate Ontario expansion (BETAKIT)
The startup’s team grew from three people last July to nine people currently, and plans to add nine more employees over the next two quarters. In more retail growth this week, QuoteMachine has raised a $1 million seed round to grow their customer relationship management solution.
Contentious union vote at Amazon heads to a count (NEW YORK TIMES)
The outcome of a vote at a warehouse in Alabama could have far-ranging implications for both the company and the labor movement.
Three Prairies-based startups close seed rounds, raising combined $2.45 million (BETAKIT)
In separate seed rounds, the three early-stage tech startups have raised a combined $2.45 million CAD in funding. Winnipeg’s VidDay and Regina’s Delta CleanTech also recently announced fresh funding rounds to fuel their growth.
Digital Main Street’s Future Proof program supports 75 pilot projects in Ontario (BETAKIT)
The Future Proof program, launched in August, was created to help main street businesses and their communities during the COVID-19 pandemic.
How Jüsto became an investor darling with a basic grocery app (REST OF WORLD)
The Mexican startup raised Latin America’s largest series A in a decade.
Three barriers to innovation in insurance (BETAKIT)
Duuo’s Director, underwriting argues insurance companies face compliance risks when developing new products to serve Canadians in the digital economy.
