TLcom Capital targets $150M for its second fund to invest in 20 African startups

TLcom Capital, the Africa-focused venture capital firm known to have made bets on Andela and Twiga, is raising $150 million for its second fund targeted at making early- and late-stage investments. The firm has reached the first close of $70 million, according to a statement shared with TechCrunch. It’s almost the equivalent of what TLcom […]

Glossier just laid off one-third of its corporate employees, mostly in tech

Glossier, the popular beauty brand led by former blogger Emily Weiss, let go of 80 of its corporate employees today, according to an internal email obtained by Modern Retail. The cuts, which amount to around one-third of Glossier’s corporate workforce, will primarily impact the company’s technology team. “[W]e are shifting our technology strategy to leverage […]

Soona, a virtual photo shoot platform for e-commerce, raises $35 million Series B

Alongside the dramatic growth in e-commerce, in part fueled by the pandemic, there’s also increased demand for services that can help merchants more easily participate online. A startup called Soona, now backed by an additional $35 million in Series B funding, has been tapping into this market with its platform that allows brands to create […]

Experts Roundup: lead magnets, e-commerce trends, software developer Q&A

Let’s get into it! Software consulting (TechCrunch+) How should non technical founders collaborate with software developers? Miranda Halpern continues the TechCrunch Experts project by interviewing CEO of Wolfpack Digital, Georgina ‘Gina’ Lupu Florian. What percentage of your clients are non-technical people who have an idea, but no coding experience? How much of a limitation is […]

Morocco’s Chari valued at $100M in bridge round as it looks to pilot BNPL services

Moroccan B2B e-commerce and retail startup Chari confirmed to TechCrunch that it has secured a bridge round at a $100 million valuation. The bridge round welcomed new investors Khwarizmi Ventures, Air Angels and Afri Mobility, the venture capital arm of AKWA Group. They join existing investors (Y Combinator, Rocket Internet, Global Founders Capital, Plug n […]

Senegalese logistics and delivery company PAPS raises $4.5M led by 4DX Ventures and Orange

Multinationals like Amazon and Alibaba have leveraged logistics infrastructure such as UPS and FedEx to create large businesses. It’s not the same in Africa, where few third-party infrastructure players exist to provide end-to-end logistics to e-commerce companies. PAPS, a Senegal-based logistics and delivery company, is filling this gap in its region by offering customers various logistics […]

Kenyan e-commerce company Copia Global raises $50M to ramp up African expansion

Kenyan B2C e-commerce company Copia Global has raised $50 million in a Series C equity round led by Goodwell Investments. The new financing round welcomed new investors such as Zebu Investment Partners, the U.S. International Development Finance Corporation (DFC), and Koa Labs, as well as past investors Lightrock, German development finance institution DEG, and Perivoli […]

Shopify and China’s team up to capture cross-border sellers

Two of the world’s largest e-commerce players are joining joined hands. Major Chinese online retailer has formed a strategic partnership with Ottawa-based Shopify to help global brands tap China’s enormous appetite for imported goods, as well as helping Chinese merchants sell overseas. The news is turning heads in China’s cross-border e-commerce community. The first […]