Amazon upgrades its Blink outdoor security camera with better battery, two-way talk

Sure, Google’s getting most of the smart home love this week, but you didn’t think Amazon would let an I/O pass without releasing a little news of its own, did you? The company just announced the latest version of its outdoor Blink security camera, the fittingly named Blink XT2.

The new model brings a handful of updates to the product — and manages to do so at a lower price. At $90, it’s 25 percent less than the original model — which was already a decent price point as far as outdoor cameras go.

The new model promises two years of battery life, powered by two AA batteries. That’s courtesy of a new chip — and depends on usage, naturally. Namely just using motion activated recording will help conserve on life. The update also brings two-way talk to the product, because sometimes yelling at an intruder is the best way to get them out of there.

Motion sensing has been improved on the product to limit false alerts — a pretty big issue with most of these consumer cameras.

The XT2 arrives online in the U.S. on May 22, with Canada availability following this summer. It’s available to preorder starting today. There’s also a bundled version with the Blink Sync Module that will run you $100.

Amazon acquired Blink in late 2017, in a bid to increase its smart home offerings and better compete with Google post-Nest acquisition.

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Alibaba-backed facial recognition startup Megvii raises $750 million

One of China’s most ambitious artificial intelligence startups Megvii, more commonly known for its facial recognition brand Face++, announced Wednesday that it has raised $750 million in a Series D funding round.

Founded by three graduates from the prestigious Tsinghua University in China, the eight-year-old company specializes in applying its computer vision solutions to a range of use cases such as public security and mobile payment. It competes with its fast-growing Chinese peers, including the world’s most valuable AI startup SenseTime — also funded by Alibaba — and Sequoia-backed Yitu.

Bloomberg reported in January that Megvii was mulling to raise up to $1 billion through an initial public offering in Hong Kong. The new capital injection lifts the company’s valuation to just north of $4 billion as it gears up for its IPO later this year, sources told Reuters.

China is on track to overtake the United States in AI on various fronts. Buoyed by a handful of mega-rounds, Chinese AI startups accounted for 48 percent of all AI fundings in 2017, surpassing those in the U.S. for the first time, shows data collected by CB Insights. An analysis released in March by the Allen Institute for Artificial Intelligence found that China is rapidly closing in on the U.S. by the amount of AI research papers published and the influence thereof.

A critical caveat to China’s flourishing AI landscape is, as the New York Times and other publications have pointed out, the government’s use of the technology. While facial recognition has helped the police trace missing children and capture suspects, there have been concerns around its use as a surveillance tool.

Megvii’s new funding round arrives just days after a Human Rights Watch report listed it as a technology provider to the Integrated Joint Operations Platform, a police app allegedly used to collect detailed data from a largely Muslim minority group in China’s far west province of Xinjiang. Megvii denied any links to the IJOP database per a Bloomberg report.

Kai-Fu Lee, a world-renowned AI expert and investor who was Google’s former China head, warned that any country in the world has the capacity to abuse AI, adding that China also uses the technology to transform retail, education, urban traffic among other sectors.

Megvii has attracted a rank of big-name investors in and outside China to date. Participants in its Series D include Bank of China Group Investment Limited, the central bank’s wholly-owned subsidiary focused on investments, and ICBC Asset Management (Global), the offshore investment subsidiary of the Industrial and Commercial Bank of China.

Foreign backers in the round include a wholly-owned subsidiary of the Abu Dhabi Investment Authority, one of the world’s largest sovereign wealth funds, and Australian investment bank Macquarie Group.

Megvii says its fresh proceeds will go toward the commercialization of its AI services, recruitment, as well as global expansion.

China has been exporting its advanced AI technologies to countries around the world. Megvii, according to a report by the South China Morning Post from last June, was in talks to bring its software to Thailand and Malaysia. Last year, Yitu opened its first overseas office in Singapore to deploy its intelligence solutions to partners in Southeast Asia. In a similar fashion, SenseTime landed in Japan by opening an autonomous driving test park this January.

“Megvii is a global AI technology leader and innovator with cutting-edge technologies, a scalable business model and a proven track record of monetization,” read a statement from Andrew Downe, Asia regional head of commodities and global markets at Macquarie Group. “We believe the commercialization of artificial intelligence is a long-term focus and is of great importance.”

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2048 Ventures raises $27M fund to back first-time founders and the ‘first-time founder mindset’

2048 Ventures, a new early-stage firm founded and led by Alex Iskold and Paul Sethi, is announcing that it has raised a first fund of $27 million.

Iskold spent five years as the managing director of Techstars NYC, and he previously founded Info Lab and GetBlue. Sethi, meanwhile, recently served as CEO of Redbooks whiel also making angel investments for the past decade.

The pair told me that they’re looking to write first checks of between $300,000 and $500,000 for startups with genuinely differentiated technology in sectors like enterprise software-as-a-service, fintech, healthcare, cybersecurity, developer tools, hardware, genomics, artificial intelligence and biotech. They’re not ruling out consumer startups — but again, they said tech differentiation is key.

While the firm is based in New York, the pair said they’re “geo-agnostic,” at least within the United States and Canada. They’ll look at startups from Silicon Valley and New York, but according to Iskold they’re more excited about the opportunity in cities like Atlanta, Austin, Toronto and Nashville. And rather than trying to convince those founders to move to one of the current startup hubs, they’re happy for them them “to build in their hometowns and grow in their hometowns, at least until they get to a later stage.”

In each of these markets, Sethi added, “We’re playing very nicely with the other players in those ecosystems. We’re the ones who are bringing other angels to the table and other institutions that will invest at the early stage with us.”

They also said they’re looking for first-time founders, or serial entrepreneurs who still have the “first-time founder mindset.” In other words, they’re probably not interested in someone who’s already had a huge exit.

“There’s capital efficiency, hunger and drive that you can really sense — the founder who hasn’t yet had that big exit and really wants to execute,” Iskold said.

He also said there’s “no one single formula” of who they’re looking for: “Part of our message is: We’re not afraid to invest in first-time founders, single founders, couples. We want to defy the notion of what makes a first-time founding team.”

The firm has apparently made some investments already, but it’s held off on disclosing them while finishing its own fundraising.

As for where the 2048 name came from, the pair actually declined to tell me, because they’ve been asking job applicants to guess and getting what Iskold called “such a wonderful, diverse set of reasons.”

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Steve Singh stepping down as Docker CEO

In a surprising turn of events, TechCrunch has learned that Docker CEO Steve Singh will be stepping down after two years at the helm, and former Hortonworks CEO Rob Bearden will be taking over. An email announcement, went out this morning to Docker employees.

People close to the company confirmed that Singh will be leaving the CEO position, staying on the job for several months to help Bearden with the transition. He will then remain with the organization in his role as Chairman of the Board. They indicated that Bearden has been working closely with Singh over the last several months as a candidate to join the board and as a consultant to the executive team.

Singh clicked with him and viewed him as a possible successor, especially given his background with leadership positions at several open source companies, including taking Hortonworks public before selling to Cloudera last year. Singh apparently saw someone who could take the company to the next level as he moved on. As one person put it, he was tired of working 75 hours a week, but he wanted to leave the company in the hands of capable steward.

Last week in an interview at DockerCon, the company’s annual customer conference in San Francisco, Singh appeared tired, but a leader who was confident in his position and who saw a bright future for his company. He spoke openly about his leadership philosophy and his efforts to lift the company from the doldrums it was in when he took over two years prior, helping transform it from a mostly free open source offering into a revenue-generating company with 750 paying enterprise customers.

In fact, he told me that under his leadership the company was on track to become free cash flow positive by the end of this fiscal year, a step he said would mean that Docker would no longer need to seek outside capital. He even talked of the company eventually going public.

Apparently, he felt it was time to pass the torch before the company took those steps, saw a suitable successor in Bearden and offered him the position. While it might have made more sense to announce this at DockerCon with the spotlight focused on the company, it was not a done deal yet by the time the conference was underway in San Francisco, people close to the company explained.

Docker took a $92 investment last year, which some saw as a sign of continuing struggles for company, but Singh said he took the money to continue to invest in building revenue-generating enterprise products, some of which were announced at DockerCon last week. He indicated that the company would likely not require any additional investment moving forward.

As for Bearden, he is an experienced executive with a history of successful exits. In addition to his experience at Hortonworks, he was COO at SpringSource, a developer tool suite that was sold to VMware for $420 million in 2009 (and is now part of Pivotal). He was also COO at JBoss, an open source middleware company acquired by Red Hat in 2006.

Whether he will do the same with Docker remains to be seen, but as the new CEO, it will be up to him to guide the company moving forward to the next steps in its evolution, whether that eventually results in a sale or the IPO that Singh alluded to.

Email to staff from Steve Singh:

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Trump’s China tariffs are getting a major increase on Friday

The stock market has already seen some wild fluctuations this week in anticipation of the latest volley in a trade war ramping up between the U.S. and China. Now it seems the President is making good on his promise to further increase tariffs on goods from the country. Reuters is reporting that the U.S. is set to increase import tariffs on $200 billion worth of Chinese goods from 10 to 25 percent. The change is set to go into effect on Friday, May 10.

Trump addressed the topic of tariffs (per usual) on Twitter this morning, without directly confirming new increase. “China has just informed us that they (Vice-Premier) are now coming to the U.S. to make a deal,” he wrote. “We’ll see, but I am very happy with over $100 Billion a year in Tariffs filling U.S. coffers…great for U.S., not good for China!”

Developing…

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SoFi launches gig-focused ETF

SoFi is one of the leading fintech startups to emerge from San Francisco and breach the financial markets. Originally started as a way to better finance student debt, it has since expanded to include products targeted at personal loans and home loans.

Today, the company announced a new index fund product focused on the gig economy. GIGE, which trades on Nasdaq, is an actively-managed fund advised by Toroso Investments that allows investors to invest in this hot sector of the economy. Toroso offers a range of services around creating and managing ETFs.

The company also announced the creation of an ETF focused on high-growth stocks. That ETF, which trades as SFYF on the NYSE, is designed to identify and capture the growth of the top 50 of the 1000 largest publicly-traded issues.

It has formerly used that growth focus to create two ETFs, focused on 500 high-growth companies under the trading name SFY and a product it called “SoFi Next 500 ETF” which trades under SFYX, both of which have no commissions or management fees.

SoFi’s SFYF fund is composed specifically of public companies that show the strongest growth on three key metrics: top-line revenue growth, net income growth, and forward-looking consensus estimates of net income growth.

For its GIGE fund, SoFi defines the “gig economy” as a group of companies that “embrace and support the workforce in which employment is based around short-term engagements that allow for flexibility and personal freedom and temporary contracts.”

SoFi’s new funds add value to investors primarily through providing 1) access to industry disruptors at 2) an earlier stage point in their growth cycle.

In recent years, more and more investors have been trying to get a piece of the hottest tech companies earlier with a growing number of traditional institutional investors now dipping their toes into startup and tech investing.

Furthermore, a number of platforms and funds having been launched to support the high-demand for access to some of the top public and private companies and major disruptive trends, including funds focused on themes such as artificial intelligence, big data, cybersecurity or the next manufacturing revolution.

Interestingly, SoFi’s GIGE fund offers compelling value in the speed at which it offers investors access to the hottest names on the market, as the fund is structured so that most post-IPO companies can join the GIGE within 31 days of IPO, relative to the 60-90 days traditional passive funds that often have to wait to add a newly IPO’d company.

Additionally, since SoFi’s GIGE fund is an actively managed fund, SoFi is also offering fund investors access to experienced asset managers and an alternative to algorithmic, machine-led passive funds that have increasingly dominated the capital markets.

“Our members are excited by high-growth and gig economy companies because these companies are in many cases part of their lives,” said SoFi CEO Anthony Noto in a press release. “We’re giving our members a way to get started investing by buying what they know and investing in themselves.”

The announcement is the company’s latest step in its attempt to further establish itself under the new guard of CEO Anthony Noto, formerly of Goldman Sachs, who replaced former head Michael Cagney in 2018, as the company looks to move further away from dark clouds in its past established by lawsuits, sexual harassment claims, FTC penalties, and chunky rounds of layoffs. In the past week, the company also announced that CMO and former COO, Joanne Bradford, will be leaving the company at the end of May, though the split was reportedly long-planned and amicable.

The launch of SoFi’s new investment products also comes just weeks after the company was reportedly in discussions to raise $500 million from the Qatar Investment Authority.

To date, SoFi has roughly $2 billion in venture capital, according to data from Crunchbase, with backing from a number of Silicon Valley and Wall Street heavy hitters including SoftBank, Silver Lake Partners, Morgan Stanley, Founders Fund, and a host of others.

Already at a valuation of nearly $4.5 billion, according to Pitchbook, SoFi appears well on its way to an eventual IPO. Noto, however, noted in a recent interview with Yahoo Finance that “an IPO is not a priority at this point” for SoFi as the company remains focused on executing on a high-quality sustainable growth path.

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Samsung spilled SmartThings app source code and secret keys

A development lab used by Samsung engineers was leaking highly sensitive source code, credentials and secret keys for several internal projects — including its SmartThings platform, a security researcher found.

The electronics giant left dozens of internal coding projects on a GitLab instance hosted on a Samsung-owned domain, Vandev Lab. The instance, used by staff to share and contribute code to various Samsung apps, services and projects, was spilling data because the projects were set to “public” and not properly protected with a password, allowing anyone to look inside at each project, access, and download the source code.

Mossab Hussein, a security researcher at Dubai-based cybersecurity firm SpiderSilk who discovered the exposed files, said one project contained credentials that allowed access to the entire AWS account that was being used, including over a hundred S3 storage buckets that contained logs and analytics data.

Many of the folders, he said, contained logs and analytics data for Samsung’s SmartThings and Bixby services, but also several employees’ exposed private GitLab tokens stored in plaintext, which allowed him to gain additional access from 42 public projects to 135 projects, including many private projects.

Samsung told him some of the files were for testing but Hussein challenged the claim, saying source code found in the GitLab repository contained the same code as the Android app, published in Google Play on April 10.

The app, which has since been updated, has more than 100 million installs to date.

“I had the private token of a user who had full access to all 135 projects on that GitLab,” he said, which could have allowed him to make code changes using a staffer’s own account.

Hussein shared several screenshots and a video of his findings for TechCrunch to examine and verify.

The exposed GitLab instance also contained private certificates for Samsung’s SmartThings’ iOS and Android apps.

Hussein also found several internal documents and slideshows among the exposed files.

“The real threat lies in the possibility of someone acquiring this level of access to the application source code, and injecting it with malicious code without the company knowing,” he said.

Through exposed private keys and tokens, Hussein documented a vast amount of access that if obtained by a malicious actor could have been “disastrous,” he said.

A screenshot of the exposed AWS credentials, allowing access to buckets with GitLab private tokens. (Image: supplied).

Hussein, a white-hat hacker and data breach discoverer, reported the findings to Samsung on April 10. In the days following, Samsung began revoking the AWS credentials but it’s not known if the remaining secret keys and certificates were revoked.

Samsung still hasn’t closed the case on Hussein’s vulnerability report, close to a month after he first disclosed the issue.

“Recently, an individual security researcher reported a vulnerability through our security rewards program regarding one of our testing platforms,” Samsung spokesperson Zach Dugan told TechCrunch when reached prior to publication. “We quickly revoked all keys and certificates for the reported testing platform and while we have yet to find evidence that any external access occurred, we are currently investigating this further.”

Hussein said Samsung took until April 30 to revoke the GitLab private keys. Samsung also declined to answer specific questions we had and provided no evidence that the Samsung-owned development environment was for testing.

Hussein is no stranger to reporting security vulnerabilities. He recently disclosed a vulnerable back-end database at Blind, an anonymous social networking site popular among Silicon Valley employees — and found a server leaking a rolling list of user passwords for scientific journal giant Elsevier.

Samsung’s data leak, he said, was his biggest find to date.

“I haven’t seen a company this big handle their infrastructure using weird practices like that,” he said.

Read more:

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Bird is now selling its electric scooters directly to consumers

Bird, recognizing the growing possibility that people will want to own electric scooters rather than share them, is launching a new scooter model available for purchase. Called the Bird One, it will be available for ownership and shared use cases. Bird is also ditching the Ninebot ES and relying on its own M365 model for monthly personal rentals.

“Bird One builds on the benefits and learnings of Bird Zero and is forecasted to last in the sharing environment for well over a year,” Bird CEO Travis VanderZanden said in a statement. “Given the excitement and demand for our next generation e-scooter, we are also making a limited supply of Bird Ones available to own. Now, whether you want to share, rent, or own, Bird provides an option for everyone.”

Bird One has a battery designed to last twice as long, cover a longer range and last more than 4x longer in the shared space. That’s an important detail given how it’s notoriously hard to achieve good unit economics with shared electric scooters.

Bird One will cost $1,299 and come in three colors. People can pre-order the scooter now and receive it this summer. Bird’s announcement comes ahead of Boosted’s anticipated electric scooter on May 15.

Over the last few months, Bird has been aggressively trying to capture more parts of the electric scooter market. Late last month, Bird introduced monthly personal rentals in San Francisco and Barcelona. The program enables people to rent a scooter for $24.99 a month with no cap on the number of rides.

Scooter-sharing in SF and Barcelona is highly regulated, so Bird’s delivery program is a very neat way to not be hindered by regulation. By dropping off the scooters directly to individuals, it’s akin to simply owning your own scooter — from the city’s perspective, that is. The bigger barrier for Bird, however, may be how many people have already decided to simply by their own scooters.

Whether it’s the traditional shared model, monthly rentals or selling direct to consumer, Bird is clearly trying to be the go-to provider of electric scooters — no matter how often people want to use them.

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Sumo Logic announces $110M Series G investment on valuation over $1B

Sumo Logic, a cloud data analytics and log analysis company, announced a $110 million Series G investment today. The company indicated that its valuation was “north of a billion dollars,” but wouldn’t give an exact figure.

Today’s round was led by Battery Ventures with participation from new investors Tiger Global Management and Franklin Templeton. Other unnamed existing investors also participated according to the company. Today’s investment brings the total raised to $340 million.

When we spoke to Sumo Logic CEO Ramin Sayer at the time of its $75 million Series F in 2017, he indicated the company was on its way to becoming a public company. While that hasn’t happened yet, he says it is still the goal for the company, and investors wanted in on that before it happened.

“We don’t need to capital. We had plenty of capital already, but when you bring on crossover investors and others in this this stage of a company, they have minimum check sizes and they have a lot of appetite to help you as you get ready to address a lot of the challenges and opportunities as you become a public company,” he said.

He says the company will be investing the money in continuing to develop the platform, whether that’s through acquisitions, which of course the money would help with, or through the company’s own engineering efforts.

The IPO idea remains a goal, but Sayer was not willing or able to commit to when that might happen. The company clearly has plenty of runway now to last for quite some time.

“We could go out now if we wanted to, but we made a decision that that’s not what we’re going to do, and we’re going to continue to double down and invest, and therefore bring some more capital in to give us more optionality for strategic tuck-ins and product IP expansion, international expansion — and then look to the public markets [after] we do that,” he said.

Dharmesh Thakker, general partner at investor, Battery Ventures says his firm likes Sumo Logic’s approach and sees a big opportunity ahead with this investment. “We have been tracking the Sumo Logic team for some time, and admire the company’s early understanding of the massive cloud-native opportunity and the rise of new, modern application architectures,” he said in a statement.

The company crossed the $100 million revenue mark last year and has 2000 customers including Airbnb, Anheuser-Busch and Samsung. It competes with companies like Splunk, Scaylr and Loggly.

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Kargo is disrupting logistics in Myanmar, one of the world’s most challenging countries

Founders in Seattle recently bemoaned a lack of capital and support when compared to Silicon Valley — what about those building startups in more remote markets?

Kargo, a company that takes the spirit of Uber and brings it to the disorganized world of trucking, has raised a SG$800,000 (US$580,000) round of funding, giving TechCrunch an excuse to delve into the world of startup development in Myanmar, one of the world’s most curious countries.

Ostracized from the world until its first free general election in 2015, Myanmar — which was previously known as Burma — has seen the world’s most radical digitization. Ruled by the military from 1962 until 2011, the price of a SIM card in the country was $250 as recently as 2013 (a big jump on $3,000-odd in the early 2000s) but that all change around the elections in 2015 when the country opened its doors to outside investment and global companies. Telecom companies rushed in, reducing the price of a SIM card to mere dollars, in U.S. terms, and giving those who bought them gigabits of data to use each month.

That rush saw services like Facebook go from non-existent to the key digital space overnight as Myanmar’s 55 million people poured online — the U.S. social network has failed to cope with that crazy growth. Today, some 46 million people are estimated to be online in the country, with mobile the dominant platform and Facebook the top browser — yep, the social network is that big.

Myanmar is getting its first 4G rollouts and the seeds have been sown for internet businesses and startups.

Simplifying logistics

Kargo — which is not to be confused by the Indonesia company of the same name that’s backed by Uber co-founder Travis Kalanick — was started in 2016 by Alexander Wicks, an Australian expat who had previously run digital marketing businesses.

The young company initially joined Phandeeyar, a tech accelerator in major city Yangon, before dropping out due to a disagreement on terms, CEO and founder Wicks said. He told TechCrunch that he valued the organization, but decided to “fly solo” with the business.

That is a bet that appeared to pay off, so far at least. Kargo won a grant from the GSM Association Ecosystem Accelerator Fund, a unit associated with the GSMA, and it represented Myanmar at the world Seedstars Summit last year. Now, it has secured this new funding led by Singapore-based early-stage specialist Cocoon Capital.

Wicks said the round is a pre-Series A deal and he hopes that Kargo can go on to raise a Series A to fuel overseas growth within the next year or 18 months.

Alexander Wicks started Kargo in 2016

Kargo works with multinational companies, including Coke and Nestle, to help them navigate the complicated world of logistics in Myanmar. By aggregating multiple fleets through its platform, Kargo becomes a single point of contact for companies moving product, thus simplifying the process massively. In the past, they’d deal with copious numbers of middlemen, who would liaise with truck fleets to add unnecessary levels of complication and cost.

“The market is very big, its a core part of how the whole country runs,” he explained, adding that Myanmar’s freight industry is expected to triple in the coming years.

Wicks said Kargo works with some 2,000-odd drivers mostly via fleet owners, who typically operate 5-50 trucks through their business. It disintermediates the aforementioned brokers and middlemen, to help drivers and fleet owners recoup a higher portion of each order and gain access to potential new clients. A partnership with Yoma Bank will also give the startup access to an SME loan that’ll enable it to make daily payouts to drivers that need more immediate cash flow than its regularly weekly deposits.

Kargo is currently close to $200,000 in monthly order volume, with 20-30 percent growth month-to-month during 2019, Wicks shared.

It is now exploring its first steps outside of Myanmar by covering ‘logistics corridors’ into Thailand. Wicks said the company has seen a high level of requests to move overseas from existing clients, and he intends to use those relationships to begin to step into new markets tentatively, starting with Thailand.

The new funding will also go towards developing Kargo’s new — and particularly improving the web app used by drivers — as well as increased education and training for truck operators and drivers.

“It’s very much a product for Myanmar,” Wicks said in an interview. “It’s an old industry being built with a new mindset.”

Finally, hiring is a key focus for the capital, too.

Kargo currently has a team of 32, most of whom are located in Yangon, and that headcount is forecast to rise to as many as 60 this year. Business development, fleet management and operations are the core areas where the startup plans to hire, and that will include beefing up its new office in Mandalay.

Wicks — center in a cap — with the members of the Kargo team

Building a startup in Myanmar

When asked what the hardest part of operating a startup in Myanmar is, Wicks claimed that dealing with the government is just ahead of raising investment money.

“Bureaucracy… there are no stats or systems here,” he said. “We have to deal with a lot of government issues.”

Still, he said, the arrival of Uber and its regional competitor Grab — which ultimately acquired the U.S. firm’s regional business — in Myanmar in 2017 gave Kargo and other on-demand startups in the country a real foothold in working with governments by educating them on new business models.

“They made it clear what a platform is for the government,” Wicks said.

He believes that their arrival, coupled with growing internet usage and increased speed, have also helped get investors comfortable with the idea of investing in tech in Myanmar, although he insisted that they must still be “patient” over growth.

“It’s certainly a much more positive landscape for founders today,” Wicks said. “That trust has changed for investors, there are a few of us building companies across the country.”

Educating and training drivers is a major focus for Kargo following its fundraising

That’s certainly true for Cocoon Capital — which is currently raising for a $20 million fund having completed a first close last year.

Managing partner Michael Blakey told TechCrunch that Kargo is the firm’s second investment from that new fund. He’s equally bullish that Kargo is well placed to take advantage of both digital growth and the development of logistics as Myanmar continues to appeal to overseas businesses.

“Myanmar is the fastest growing economy in Southeast Asia and logistics is a key industry to support this growth,” Blakey said in a statement. “We believe the Kargo platform has the potential to disrupt the trucking industry, not only in Myanmar, but in the region.”

If ‘Myanmar 1.0’ was the establishment of credible startups, then the second chapter will be the cream of that crop venturing overseas. Kargo is one of the early contenders that is intent on making that move.

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