Every day Crunch: Proton releases end-to-end encrypted password manager for desktop and mobile


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Hello, and Completely happy Thursday. Just yet another day to go for the workweek. Haje is in Boston taking fabulous photos of the activities happening at TechCrunch Early Stage today, so I’m holding down the fort. And I’m also mourning my blue Twitter check mark, which left me today. Enough about that. Let’s get on with the news! — Christine

The TechCrunch Top 3

  • Passwords are hard to recollect: The corporate behind the encrypted email service Proton Mail has now unveiled the Proton Pass password manager so that you don’t must do any remembering. Romain has more.
  • Don’t worry, it is a Primo tool: Also by Romain, French startup Primo raised $3.4 million to proceed developing an IT tool for firms which might be too small for an IT manager.
  • Blue skies, smiling at me: Bluesky, the Jack Dorsey–backed Twitter alternative, is now available on Android, writes Sarah.

Startups and VC

Three former managing directors at Amex Ventures went out on their very own to begin Vesey Ventures, and now they’ve closed on their debut fund with $78 million in capital commitments to back early-stage fintech startups. Mary Ann has more on their journey.

Now over to CoreWeave, which landed a mega-round of $221 million in Series B investment, of which half got here from lead investor Magnetar Capital. Kyle writes that this values the general-purpose cloud computing company at $2 billion pre-money.

Here’s SIX more for you:

  • Game on: Rita peels back the layers of Bitkraft Ventures’ vision to speculate in Asian gaming startups.
  • A Robust view of robotics: Robust.AI raised $20 million to scale robot deliveries for pilot customers, reports Brian.
  • From hospitality to fleet management: Two brothers in Senegal are putting their hospitality management skills to work helping trucking firms with their logistics. Their company, Chargel, has now raised $2.5 million in seed funding, Annie writes.
  • Give attention to mental health: Tage spoke with investors who say that if founder mental wellness is tied to innovation and success, then there must be a lightweight shown on it, especially during this difficult capital crunch environment.
  • It’s like Barbie’s Jeep, but in human size: French microcar startup Kate raised one other $7.6 million in its quest to supply more tiny electric vehicles, like its K1, reports Romain.
  • We assure you, they’re real: Singapore-based document verifier Accredify is now flush with $7 million to proceed to inform you in case your documents are real. Catherine has more.

4 problems enterprise capital can’t solve

Image Credits: Oleksandr Shchus (opens in a new window) / Getty Images

Fundraising is a key aspect of each founder’s journey, but Techstars managing director Collin Wallace says it could also hasten an organization’s demise.

For instance, raising funds to scale up sales and marketing efforts might sound great, but what if the business itself has negative unit economics?

“More often than not, what stands between an organization and its ability to attain scale isn’t a scarcity of cash,” says Wallace.

“It’s higher to ask: Do we now have hustle problems? Product problems? Process problems? People problems? Is my business model fundamentally flawed?”

4 problems enterprise capital can’t solve

Two more from the TC+ team:

  • Ooey gooey pitch deck goodness: In the newest installment of Pitch Deck Teardown, Haje looks on the pitch deck that got Honeycomb a $50 million Series D.
  • Threading the needle: Dominic-Madori spoke with Lisa Lambert, the top of National Grid’s CVC National Grid Partners, who discussed that “environmental and social concerns must be top of mind straight away for any smart investor.” 

TechCrunch+ is our membership program that helps founders and startup teams get ahead of the pack. You possibly can enroll here. Use code “DC” for a 15% discount on an annual subscription!

Big Tech Inc.

SpaceX finally had liftoff of its Starship rocket, which went to orbit for the primary time. Darrell writes that “all told, this could definitely be considered successful: SpaceX founder Elon Musk had said previously that there was essentially a big likelihood Starship wouldn’t even make it off the pad on this primary try.”

Tricks are for teenagers, but in Discord’s case, tricks are for its latest chatbot. Lorenzo reports that some users performed a trick called “jailbreaking” on Discord’s Clyde chatbot, getting it to share napalm and meth instructions.

And now here’s five more for you:

  • Explicit content ahead: Imgur will ban explicit images on its platform, Ivan reports.
  • From the mind of…: Kyle writes about Google consolidating its AI research divisions into Google DeepMind.
  • Getting a word in: It’s no secret that group chats are likely to suck when there are greater than about three people in a single. A latest app called Wavelength is attempting to make group chats suck less. Ivan has more.
  • We got ourselves a convoy: Kodiak Robotics has a latest gig to haul freight autonomously for Tyson Foods, reports Rebecca.
  • Respect my authoritah!: Lauren has details about Paramount allegedly owing Warner Bros. Discovery $52 million for “South Park” streaming rights.

Every day Crunch: Proton releases end-to-end encrypted password manager for desktop and mobile by Christine Hall originally published on TechCrunch


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