Startup funding during the crisis: What’s really going on? Funding rounds plummeted by 22% in March, valuations are dropping and founders are worried they won’t be able to raise their next round.
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Hotelmize raises Series B funding from Alibaba, establishes APAC headquarters in Hong Kong
Hotelmize – one of PhocusWire’s Hot 25 Startups for 2020 – is aiming to gain a foothold in Asia Pacific and to expand operations in the region following a new capital raise. Alibaba Hong Kong Entrepreneurs Fund and Brilliance Ventures are leading the Series B round of undisclosed funding.
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How can startups survive 2020?
2020 has certainly posed a new set of challenges for startups as businesses across most industries have taken an economic hit. Tech in Asia data shows that dealmaking in February this year is down 26% compared to the same month last year.
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How startups can shift gears and overcome the downturn
In times of economic expansion and prosperity, raising capital for a startup is much easier. Investors feel encouraged to pump capital into nascent sectors because the prospect of higher returns is more attractive. However, the landscape changes when there’s a crisis.
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New guidance on SBA loans means most startups are still excluded from $349 billion stimulus
Under new guidance issued by the Small Business Administration it seems non-profits and faith-based groups can apply for the Paycheck Protection Program loans designed to keep small business afloat during the COVID-19 epidemic, but most venture-backed companies are still not covered.
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Investors tell Indian startups to ‘prepare for the worst’ as Covid-19 uncertainty continues
Just three months after capping what was the best year for Indian startups, having raised a record $14.
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Start-Ups Are Pummeled in the ‘Great Unwinding’
Dozens have laid off thousands, slashed costs and changed their businesses to try to survive the pandemic. All that may not work.
Read more: https://nyti.ms/2JywnTA
SenseTime to seek up to $1bn private funding, deferring Hong Kong IPO
HONG KONG — Chinese artificial intelligence startup SenseTime Group has deferred its plan for an up to $750 million initial public offering in Hong Kong this year and instead aims to tap private markets, people briefed on the plan said, joining the list of companies scrapping share-sale plans as th
Read more: https://s.nikkei.com/2Uy7jSZ
Startups and SBA Loans
Last week Congress passed the CARES Act which provides a vast array of financial relief provisions to people and businesses in the US. Congress is providing relief to small businesses via a forgivable loan program administered by the Small Business Administration (SBA).
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