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Suborbital space tourism finally arrives | FCC prepares to run public C-band auction | The big four in the U.S. launch industry — United Launch Alliance, SpaceX, Blue Origin and Northrop Grumman — hope to be one of two providers that will receive five-year contracts later this year to launch national security payloads starting in 2022. | China’s launch rate stays high | The International Space Station is the largest ever crewed object in space.

 
Hammock collects £1M seed for its current...
Hammock, a U.K. fintech/proptech helping landlords and property manages gain better oversight on the financial health of their rental properties, has raised £1 million in seed funding as it readies the launch of a current account. Backing comes from Fuel Ventures and Ascension Ventures, joining existing investors that include Founders Factory and various unnamed angels. Hammock was incubated within Founders Factory Studio and in the last 12 months has on-boarded more than 1,700 managed properties onto its platform, tracking...

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Extra Crunch Live: Join Anu Duggal for...
Rent the Runway and Glossier became unicorns within the same week in June 2019. That same year, only 2.7% of venture capital dollars went toward female-founded companies. Silicon Valley’s disconnect between the monetary success of female-founded companies and funding them in the first place is disheartening. The conversation is there, but the dollar sign momentum remains missing. Anu Duggal founded the Female Founders Fund before both were even a tangible reality. In 2014, the entrepreneur launched her first fund...

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With a new general partner and without...
Initialized Capital, the early-stage venture firm that got its start inside of Y Combinator almost a decade ago and spun out of the organization roughly five years later, has closed its newest fund, with $230 million in capital commitments, co-founder Garry Tan announced on Medium earlier today. The fund, its fifth, brings the assets that the San Francisco firm is managing to $770 million. Tan also announced that Initialized has a new general partner in Brett Gibson, with whom...

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Six Toronto VCs discuss COVID-19 and the...
As North America’s fourth-largest city, Toronto is one of the world’s top startup ecosystems. After spawning companies like Eventbrite and Crowdmark, Ontario’s capital has attracted international talent that complements its homegrown population of entrepreneurs and technical talent. Six investors we surveyed who work and live in the area said they believe Toronto will continue to thrive after the COVID-19 storm passes. Some of them focus exclusively on the region, while others invest elsewhere as well. As they explained, the...

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Cube closes $5M Seed round to scale...
This morning Cube announced that it has closed a Seed round worth just over $5 million. The software startup, focused on financial planning and analysis (FP&A) work, raised $3.8 million of the total recently, with remaining $1.25 million having come in an earlier Pre-Seed round. Christina Ross, Cube’s CEO and founder, told TechCrunch that she started raising the most recent tranche of capital in March, winding up with a few term sheets within a few weeks. Eventually the startup...

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Lyft shares get small bump after reporting...
Today after the bell, Lyft reported its second-quarter financial performance. The American ride-hailing company’s results helped illustrate just how much the economy has changed in the wake of COVID-19 and its resulting disruptions to life, travel and work. Uber’s own results, which were shared last week, provided hints of what was coming for Lyft. The upshot: a sharply reduced ride-hailing business. In the second quarter, Lyft reported revenue of $339.3 million and earnings per share of negative $1.41. Analysts had...

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Duck Creek seeks $3B valuation for its...
American software company Duck Creek has upped the stakes in its impending IPO, raising its price target from a range of $19 to $21 per share to $23 to $25 per share. The bump comes as software and cloud stocks have fallen more than 10% from recent highs, putting them in technical correction territory. The Exchange explores startups, markets and money. You can read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday. The good news...

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Digital mortgage company Habito completes £35M Series...
Habito, the London startup that has spent the last few years moving the mortgage process online, including offering its own mortgages beyond acting as a broker, has completed £35 million in Series C funding. The newly disclosed round — comprising an earlier Series C equity raise and a more recent Series C extension in the form of a convertible loan note, was led by new investors Augmentum Fintech, SBI Group and mojo.capital, with participation from various existing investors including...

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Join Extra Crunch Live today for a...
Fintech is quite possibly the hottest investment area in the venture world these days, and that is why we are so excited to have one of the world’s leading operators and investors talk more about the future of fintech, wealth management, neobanks, infrastructure and more later today on Extra Crunch Live at 1pm EDT / 10am PDT / / 5pm GMT. For more than a decade, Andy Rachleff has been the founder and CEO of Wealthfront, an algorithmic wealth...

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Building a fintech giant is very expensive
A look inside Monzo, Starling and Revolut’s recently reported, albeit dated results Alex Wilhelm 9 hours Venture capitalists and other investors have poured capital into fintech startups around the world in recent years, including a record number of rounds worth $100 million or more in the second quarter of 2020. In Q2 2020 venture-backed fintech startups raised 28 nine-figure rounds, underscoring the scale of the bet investors are making on fintech’s long-term success. The Exchange explores startups, markets and...

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Vitesse, a fintech providing real-time cross-border payments...
Vitesse, the London-based fintech that offers real-time cross-border payments for businesses, has raised £6.6 million in Series A funding. The round is led by Octopus Ventures, with participation from existing backers including Hoxton Ventures and various angel investors. The company says the new investment will be used for growth, including building out its sales and marketing functions, and expanding Vitesse’s footprint in the U.S. market. It will also further invest in the “reach and speed” of its banking capabilities...

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IPO mistakes, fintech results, and the Zenefits...
Welcome back to The TechCrunch Exchange, a weekly startups-and-markets newsletter for your weekend enjoyment. It’s broadly based on the weekday column that appears on Extra Crunch, but free. And it’s made just for you. You can sign up for the newsletter here.  With that out of the way, let’s talk money, upstart companies and the latest spicy IPO rumors.  (In time the top bit of the newsletter won’t get posted to the website, so do make sure to sign...

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Startups Weekly: What countries want your startup?
Editor’s note: Get this free weekly recap of TechCrunch news that any startup can use by email every Saturday morning (7am PT). Subscribe here. They say business needs certainty to succeed, but new tech startups are still getting funded aggressively despite the pandemic, recession, trade wars and various large disasters created by nature or humans. But before we get to the positive data, let’s spend some time reviewing the hard news — there is a lot of it to process. TikTok...

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Hear how working from home is changing...
Let’s just say it has been a year. While a few ambitious startups like InVision and GitLab built their corporate cultures and talent hiring with a remote-first mentality, the reality is that the vast majority of founders never thought they would have to be socially distant from all of their employees. And it isn’t going to change: Google recently announced that all of their employees will be work from anywhere until summer 2021. We are only getting started with...

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The rules of VC are being broken
Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast (now on Twitter!), where we unpack the numbers behind the headlines. As ever I was joined by TechCrunch managing editor Danny Crichton and our early-stage venture capital reporter Natasha Mascarenhas. We had Chris on the dials and a pile of news to get through, so we were pretty hype heading into the show. But before we could truly get started we had to discuss Cincinnati, and TikTok. Pleasantries and extortion...

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