A large Esports organisation has launched a $10 million seed fund for startups from all over the world
Misfits, a large esports company, is launching a seed fund and incubator that will help develop two startups from anywhere in the world. The startups don't have to be esports related as data analytic and educational startups are also encouraged to apply. Misfits will not fold the startups into its operations and just intends to invest in the best businesses.
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Indian startups preparing for the worst
Ten global and local private equity companies have sent an open letter to Indian startups telling them to prepare for the worst. It will be incredibly difficult to secure funding in the next few months due to the coronavirus crisis. Many startups have been forced to halt their businesses due to nationwide lockdown.
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GM to reveal new electric vehicles to compete with Tesla
Vehicle manufacturing giant, General Motors, is all set to reveal their new line of electric vehicles to convince investors that it can compete with Tesla. The company has focused on reducing the cost of the batteries used in these cars, potentially reducing their cost by a large amount. Although Tesla is still the leader in the market, GM may be able to catch up.
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Investment app Robinhood experiences severe disruptions
A statement from the investment app Robinhood, popular among the younger demographic due to its free-trading features, has announced that it is experiencing severe disruptions across its entire system in a power outage, as customers criticize the company for its slow response amid an unexpected upturn in a flagging stock market. The outage may have been caused by higher-than-usual trading volumes.
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CNBC