Latest news with #SiliconValley-based
Fintech News ME
6 days ago
- Business
- Fintech News ME
Qashio Raises $19.8M to Fuel MENA and Saudi Expansion
Dubai-based business-to-business (B2B) spend management platform Qashio has secured US$19.8 million in its latest funding round, comprising both equity and non-equity financing. The round was led by existing investor Rocketship, a Silicon Valley-based venture capital firm, with further participation from ABN Ventures, MITAA, and Oneway VC. New strategic investors, including Luxembourg's MoreThan Capital, major banks in the MENA region, and regional family offices, also took part. Forbes Middle East reports that the funding will support Qashio's geographic expansion, the scaling of its fintech loyalty programme across the region, and efforts to enhance regulatory compliance ahead of its planned entry into Saudi Arabia. Qashio, founded in 2021 by Armin Moradi, provides B2B spend management solutions, including customised corporate cards and embedded financial services. Its offerings are tailored for sectors such as legal, consulting, government, travel, hospitality, retail, and high-volume e-commerce. The company previously raised US$10 million in a seed round. It reports having achieved over 800% year-on-year revenue growth for three consecutive years and recorded a first-quarter profit of more than US$1.2 million. The platform currently serves thousands of daily users across 22 markets, including the UAE, Europe, and the UK, with Saudi Arabia next on its roadmap.
Yahoo
6 days ago
- Business
- Yahoo
Plug and Play Expands to Cambodia in Partnership with Ministry of Post and Telecommunication (MPTC) and AUPP Technology Center (ATC)
SINGAPORE, May 28, 2025 /PRNewswire/ -- The Cambodian Ministry of Post and Telecommunications (MPTC) is a founding anchor partner for open innovation platform Plug and Play's new location in Phnom Penh, with the American University of Phnom Penh Technology Center (ATC) serving as an advisory member. The Plug and Play Cambodia Program aims to position Cambodia as a global hub for entrepreneurship and innovation whose reach extends beyond Asia-Pacific. "This collaboration marks a significant step forward in strengthening Cambodia's position as a center for digital innovation and entrepreneurship. By partnering with Plug and Play and ATC, we are fostering a dynamic ecosystem where startups can thrive, access critical resources, and scale globally. Through this initiative, we reaffirm our commitment to supporting technology-driven growth, attracting investment, and empowering Cambodian innovators to make a lasting impact in the region and beyond," says MPTC Secretary of State H.E. So Visothy. Plug and Play intends to expand its Cambodian network by engaging corporations and organizations through deal flows and industry events. Focusing on five key sectors—Financial Services, Education, Travel & Hospitality, Food & Agriculture, and Logistics, the Plug and Play Cambodia Program's objective is to expand Cambodia's startup ecosystem by accelerating the growth of high-potential startups, supporting their commercialization, and enabling international expansion. Additionally, it will offer investment services to develop Cambodia's venture capital asset class. Plug and Play's Open Innovation Services will further empower corporations by building their innovation capabilities and facilitating mutually beneficial collaborations with startups. Plug and Play, a Silicon Valley-based global open innovation platform, has an established presence in Asia Pacific through its Singapore headquarters, connecting corporates, startups, and venture capitalists within its vast ecosystem. "We are excited to launch Plug and Play Cambodia, a milestone that reflects our commitment to fostering innovation across Southeast Asia. Cambodia's rapidly evolving startup ecosystem and growing pool of entrepreneurial talent make it a promising hub for global innovation," says Jupe Tan, Managing Partner of Plug and Play APAC. "Through this platform, we aim to connect local startups with our international network of corporate partners, investors, and mentors to help them scale and succeed on a global stage." To engage early-stage startups, the Plug and Play Cambodia Program plans to collaborate with the ATC, the university's dedicated startup platform. By onboarding startups from ATC's incubator, the Plug and Play Cambodia Program will build on ATC's existing initiatives through organizing events, programs, and training sessions. "At ATC, we are committed to nurturing the next generation of innovators and entrepreneurs. Partnering with Plug and Play and MPTC allows us to provide startups with greater access to mentorship, funding, and global market opportunities. This collaboration will strengthen Cambodia's startup ecosystem and empower local talent to drive impactful innovation on an international scale," says Chea Somphors, General Manager of ATC. As a rapidly digitalizing country, Cambodia holds great potential to become a thriving startup ecosystem. With support from MPTC and in partnership with ATC, a leading institution already driving startup growth initiatives, Plug and Play seeks to accelerate these efforts and establish innovation practices in Cambodia. This partnership with MPTC and ATC will empower local innovators and startup owners to pursue regional and global opportunities, tapping into Plug and Play's Silicon Valley connections and expertise to scale promising startups beyond borders. About Plug and Play Plug and Play is the leading innovation platform, connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we're present in 60+ locations across five continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and have built an in-house VC to drive innovation across multiple industries where we've invested in hundreds of successful companies including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi. Our Asia Pacific headquarters was launched in Singapore in 2010 and we are now present in five cities in Southeast Asia with additional locations in China, Japan, Korea and India. We work closely with both the public and private sector with programs, innovation initiatives and startup investments across the region. For more information, visit About the Ministry of Post and Telecommunications (MPTC) The Ministry of Post and Telecommunications (MPTC) is the government ministry managing Cambodia's postal and telecommunications systems. Based in Phnom Penh, MPTC promotes effective network infrastructure connectivity and accessible services of Post, Telecommunications, and ICT sectors across the Kingdom of Cambodia, the region, and the world in order to contribute to socioeconomic development. MPTC focuses on expanding effective, reliable, and secure infrastructure, modernizing services, and ensuring nationwide coverage. The ministry promotes digital development at all levels of government to enhance public service delivery, supports ICT awareness and capacity building, encourages investment and R&D, and upholds regulatory compliance to ensure fair competition and consumer protection. For more information, visit About AUPP Technology Center (ATC) The AUPP Technology Center (ATC) is a platform where technology startups, corporates, and professionals can create value and unlock potential. By providing space, resources, guidance, and mentorship to selected tech startups in Cambodia, ATC helps propel them to a global scale, contributing to the transformation of the Cambodian digital economy. At the same time, global technology companies gain access to Cambodia's growing market and emerging talent through ATC. ATC is also home to the Center of Leadership and Professional Development (CLPD), which hosts professional and leadership training programs focused on corporate and leadership development. These programs bridge skill gaps along the corporate growth journey by developing industry-specific and key management capabilities, equipping Cambodian professionals and employers with world-class learning and development solutions. For more information, visit View original content: SOURCE Plug and Play APAC Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Int'l Business Times
23-05-2025
- Business
- Int'l Business Times
Trump Pressuring Apple to Move Production to US or Face Tariffs Infuriates Users: 'This Just Makes iPhones More Expensive'
Apple is the latest company threatened with a tariff by President Donald Trump if the nearly $3 trillion tech giant does not move production stateside, sparking backlash online. "I have long ago informed Tim Cook of Apple that I expect their iPhone's that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else," Trump wrote on Truth Social. "If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.," he continued. "Thank your for your attention to this matter!" Apple currently makes more than 80% of its products in China, according to reporting by CNBC. However, it is in the process of moving some of its production to India as the U.S.' trade war with China ramps up. The president previously gave Apple CEO Cook a break by making smartphones an exception to any tariff imposed on China. To follow through on Trump's order, the Silicon Valley-based multinational corporation would need to spend $30 billion over three years to move 10% of its supply chain to the states. "In terms of profitability, it's way better for Apple to take the hit of a 25% tariff on iPhones sold in the US market than to move iPhone assembly lines back to US," Apple supply chain analyst Ming-Chi Kuo explained in an X post. Not to mention the price of Apple products would increase exponentially. According to some experts, moving all production to the U.S. would increase the price of an iPhone by at least 25%, according to reporting by Economic Times. That means an iPhone 16 Pro, which currently retails for about $1,000, would cost approximately $3,500. Social media users expressed their frustration at the potential rising cost of Apple products, which would affect approximately 155 million Americans who use iPhones. "If Apple built iPhones in the US, no one could afford to buy them," one X user wrote. "This guy is a f***ing moron." — Tiff4Mahogany_44 🇺🇸 🇺🇦 NATO MEMBER (@tiff4mahogany) May 23, 2025 "Prices are going up. Trump is a idiot," another added. 😂🤣😂Prices are going up. Trump is a idiot. — No Name (@deaf_girl27) May 23, 2025 "Another move to f*** the American people," one user declared. Another move to fuck the American people — Ellen Hanley (@EllenHanley8) May 23, 2025 Other users agreed that the tariff is too low to actually move the needle, echoing Apple supply chain analyst Kuo's assertion that it would be more beneficial for the company to eat the cost of the tariff. "This isn't NEARLY high enough if you want to push production to the US. Which isn't going to happen," another wrote. "This just makes iPhones more expensive," he continued, adding the president "has no idea what he's doing." This isn't NEARLY high enough if you want to push production to the US. Which isn't going to happen. This just makes iPhones more expensive. He has no idea what he's doing. — Lee C Eldridge (@LeeCEldridge) May 23, 2025 Originally published on Latin Times Donald trump Apple Tim cook China © Latin Times. All rights reserved. Do not reproduce without permission.
Yahoo
21-05-2025
- Business
- Yahoo
SoundHound AI, Inc. (SOUN): A Bear Case Theory
We came across a bearish thesis on SoundHound AI, Inc. (SOUN) on Substack by Stefan Waldhauser. In this article, we will summarize the bears' thesis on SOUN. SoundHound AI, Inc. (SOUN)'s share was trading at $10.27 as of May 19th. SOUN's forward P/E was 147.06 according to Yahoo Finance. Zapp2Photo/ SoundHound AI, a Silicon Valley-based company founded in 2005, develops artificial intelligence technologies for speech, sound, and natural language. After going public via a SPAC merger in 2022, the company reported modest 2023 revenues of $46 million, offset by an operating loss of $64 million. In 2024, amid widespread AI market enthusiasm, SoundHound aggressively expanded by acquiring three unprofitable companies. These acquisitions fueled top-line growth, with Q1 2025 revenues reaching $29.1 million—a 151% year-over-year increase. However, this growth came at a steep cost. Losses ballooned alongside revenue, with SoundHound reporting a staggering $188 million net loss over the last four quarters, despite generating just $102 million in total revenue. Cash burn also exceeded $107 million over that period, meaning the company is spending more than it earns by a wide margin. Despite these troubling fundamentals, SoundHound trades at an astonishing valuation of over $4 billion, or approximately 25 times expected current-year sales—an extreme multiple for a company plagued by integration challenges, an unsustainable cost structure, and mounting losses. This kind of valuation suggests a complete disconnect from underlying business reality, fueled by AI hype rather than sound financial metrics. The stock is arguably worth only a small fraction of its current price, making it a prime candidate for short sellers as the AI frenzy inevitably corrects and valuations normalize in line with fundamentals. SoundHound AI, Inc. (SOUN) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held SOUN at the end of the fourth quarter which was 11 in the previous quarter. While we acknowledge the risk and potential of SOUN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than SOUN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
20-05-2025
- Business
- Yahoo
Vocxi Health Wins 2025 Startup World Cup Silicon Valley Regional Competition
SAN JOSE, Calif., May 20, 2025--(BUSINESS WIRE)--Startup World Cup, one of the biggest and richest startup pitch competitions in the world, successfully hosted its highly anticipated flagship Startup World Cup Silicon Valley Regional competition on May 1, 2025. Out of the Top 15 finalists, Vocxi Health, which is a breakthrough breath-based diagnostic platform that detects diseases like cancer, infections, and injuries in under a minute—anywhere, anytime, became the champion. This achievement paves the way for their participation in the Startup World Cup Grand Finale to be held in San Francisco on October 17, 2025 for an opportunity to win a $1,000,000 investment prize. The event was organized and by Pegasus Tech Ventures, a Silicon Valley-based global venture capital firm. A panel of independent venture capital investors from Kholsa Ventures, Samsung Ventures, First Round, Lightspeed, Engineering Capital, and more judged the pitches of the finalists and ultimately awarded Vocxi Health as the winner. "We are delighted by the quality and enthusiasm of the entrepreneurs who were competing, and the energy was amazing," said Anis Uzzaman, Founder and CEO of Pegasus Tech Ventures, who created the Startup World Cup competition in 2016. "Each year we are impressed by the quality of startups who apply and present. I look forward to seeing Vocxi Health on the Grand Finale stage." With more speakers to come, Mark Papermaster (CTO of AMD), Charly Kevers (CFO of Carta), Camilla Matias (COO of Brex), Ben Kus (CTO of Box), and more are already confirmed to speak at the Grand Finale on October 17th, 2025 in San Francisco. ( Event Details: Startup World Cup 2025 Grand FinaleOctober 17, 2025San Francisco Hilton Union Square Grand Finale Tickets: Check out the Grand Finale video highlights here. About Startup World Cup Startup World Cup is a global conference and competition with the goal of bridging startup ecosystems worldwide. The competition gives startup companies from all over the world a chance to win a US $1,000,000 prize in the form of an investment. This year, there will be 100+ regional events across North America, South America, Europe, Africa, and Asia, leading up to the Grand Finale in San Francisco in September. Startup World Cup is organized by Pegasus Tech Ventures, a Silicon Valley-based global venture capital firm. About Startup World Cup 2025 Grand Finale: The Startup World Cup Grand Finale will take place in San Francisco, October 17, 2025. Past Startup World Cup Grand Finale events featured prominent figures from the high-tech community, including Steve Wozniak (Co-Founder of Apple), Reid Hoffman (Founding CEO of LinkedIn), Vinod Khosla (Co-Founder of Sun Microsystems), Adam Cheyer (Co-Founder of Siri), Marc Randolph (Co-Founder of Netflix), and John Chambers (Former CEO of Cisco). The Grand Finale judging panels have included prominent investors from Kleiner Perkins, Lightspeed, NEA, Intel Capital, DFJ, Social Capital, and Index Ventures. View source version on Contacts Janice MokSenior Marketing ManagerEmail: janice@ Phone: +1 (408) 645-5532
