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Undo gets 14M to scale to meet the software accountability challenge

Undo, a long time player in the debugging tools space, offering its program execution capture and replay technology to help others diagnose software failures, has closed a $14 million Series B round led by Cambridge Innovation Capital, the Cambridge, UK-based builder of tech and healthcare companies.

The 2005 founded startup — initially bootstrapped (out of founder Greg Law’s garden shed) — has come a long way, and now has more than 30 paying customers for what it describes as its “record, rewind and replay” debugging technology, including the likes of SAP HANA, Mentor Graphics, Cadence and Micro Focus.

A quick potted history: In 2012, Law quit his job to go full time on Undo, raising a small amount of angel funding and then a $1.25M from seed investment in 2014, followed by $3.3M in a series A funding in 2016.

New investors in the Series B round include Global Brain Corporation, a Japanese venture capital fund; and UK-focused Parkwalk Advisors, while all Undo’s existing investor groups also participated —  including Rockspring; Martlet; Sir Peter Michael (founder of Quantel, Classic FM and California’s Peter Michael Winery); the Cambridge Angels group and Jaan Tallinn (co-founder of Skype and Kazaa).

The Series B will be used to expand Undo’s software development team, accelerate product development and grow its US operations. Undo says its best markets so far are electronic design automation (EDA); database manufacturers/data management; and networking.

“This funding will be used to significantly improve performance as part of Undo’s always-on recording vision, and also to accelerate our product roadmap and broaden the technology beyond compiled code so that it can be used with Java and other VM-based languages,” it tells us.

“Our main competitor is the status quo — engineering organisations that do not evolve with the times. Old-school debugging techniques (e.g. printf, logging, core dump analysis) have been around for decades. 2000 was all about static analysis. 2010 was about dynamic analysis, 2020 will be about capturing software failures ‘in the act’ through capture & replay technology.”

Undo argues that its Live Recorder technology offers “a completely new way of diagnosing software failures during development and in production” — arguing that its approach

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WeWork takes meat off the menu as part of environmental policy drive

WeWork, the co-working startup that’s valued at ~$20 billion and has some 200,000 members across 200 locations globally plus nearly 6,000 staff of its own, will no long allow employees to expense meat. It will also no longer serve meat at company events. The policy shift is intended to reduce the business’ environmental impact.

The new internal policy was reported on Friday by Bloomberg which obtained a company memo in which co-founder Miguel McKelvey revealed the policy, writing: “New research indicates that avoiding meat is one of the biggest things an individual can do to reduce their personal environmental impact — even more than switching to a hybrid car.”

So Elon Musk take note.

A WeWork spokeswoman confirmed the new policy to us — which specifically removes red meat, poultry and pork from company menus and expenses policy. Though she emphasized that the company is not prohibiting WeWork staff or members from bringing in meat-based meals they’ve paid for themselves.

Members are also still free to host their own events at WeWork locations and serve meat they’ve paid for themselves. The policy only applies to food purchased (or paid for) by WeWork itself.

The spokeswoman also confirmed that fish is not covered in the meat-free initiative.

The internal memo announcing the meat-free policy is embedded below:

Global Team,

One thing that inspires me most about WeWork is our ability to effect positive change. Our team, united together, has no limit when solving any problem. That’s the Power of We.

In the past few weeks, many teams around the world have already taken action to help us become more environmentally conscious. From plastic-free events in Montreal to recycling initiatives in Hong Kong, we’re excited and humbled by how quickly our teams can make an impact.

But we know we can do more.

We have made a commitment to be a meat-free organization. Moving forward, we will not serve or pay for meat at WeWork events and want to clarify that this includes poultry and pork, as well as red meat.

New research indicates that avoiding meat is one of the biggest things an individual can do to reduce their personal environmental impact — even more than switching to a hybrid car. As a company, WeWork can save an estimated 16.7 billion gallons (63.1 billion liters) of water, 445.1

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Hong Kong’s GoGoVan raises 250M from investors including Alibaba’s logistics subsidiary

Logistics on-demand service GoGoVan became Hong Kong’s first billion-dollar startup via a merger last year, and now is doubling down on growth after raising $250 million in new capital.

The new round was led by InnoVision Capital, with participation from the Russia-China Investment Fund, Hongrun Capital and Qianhai Fund of Funds. Two other notable investors include Alibaba’s Cainiao logistics subsidiary — Alibaba is already an investor via its Hong Kong entrepreneurship fund — and 58 Daojia Group, the parent of the ’58 Suyun’ business that merged with GoGoVan.

There’s more capital coming soon it seems, with GoGoVan saying in an announcement that the $250 million is “the first phase of its new round of funding.” Despite reaching unicorn status via the merger, GoGoVan didn’t disclose a valuation for this new round.

The company plans to use the money to expand its business into new markets, and in particular India and Southeast Asia, having focused on China primarily to date. Together with 58 Suyun, GoGoVan claims to cover 300 cities with some eight million registered users and 2,000 staff.

The service itself is anchored around short distance logistics and trips, but GoGoVan CEO Steven Lam explained that the company plans to soon introduce a door-to-door option and other offerings that “simplify logistics and delivery services.”

GoGoVan’s main rival is Lalamove, a fellow Hong Kong-based logistics startup. Lalamove raised $100 million last year at a valuation of nearly $1 billion. While GoGoVan’s exit was its merger, Lalamove is looking to remain independent and it has begun thinking about an IPO, which could take place in Hong Kong, its head of international Blake Larson told TechCrunch.

GoGoVan and Lalamove are two of the last that remain standing from what was once a very cluttered field as the rise of Uber saw dozens of companies sprout up as an ‘Uber for logistics’ services. The secret to their survival? Getting deep into the Chinese market is one crucial factor, but from talking to the two companies over the years, both cast the ‘Uber for X’ buzzword aside and concentrated on working with SMEs and repeat business customers rather than the shallow (and fickle) consumer market.

Uber’s Cargo service, for example, offered on-demand log

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Proportunity offers ‘help to buy’ loans based on predicting future house prices

Proportunity, a London-based startup and Entrepreneur First alumni, wants to help first time buyers get on the property ladder earlier or purchase a home more to their liking.

The company, which recently became an FCA authorised mortgage lender, claims to use machine learning to accurately forecast future house prices and the areas of London that will see the highest growth in the next few years. Based on confidence in this modelling, it will soon begin offering equity loans to boost your deposit when buying a first home.

Specifically, once Proportunity has used its technology to help identify a property for sale that both fits your needs and offers good house price growth prospects, the startup will offer an equity loan of up to 15 percent of the property’s price. You then combine this loan with the money you have already saved for a deposit so that you can apply for a mortgage with a lower loan-to-value ratio, which in turn will command a lower interest rate.

The way it works is quite similar to the U.K. government’s “Help To Buy” scheme, except it isn’t restricted to a new build and you have to pay monthly interest on the loan from the get-go. Like Help To Buy, when you sell the house or remortgage it in five years time, you have to repay the Proportunity equity loan at 15 percent of the current market price. Therefore, if the price of the house has gone up, the amount you pay back will have also increased. In the unlikelihood that the price has gone down, the startup loses money.

Overall, however, since a Proportunity loan is interest-only until you pay it back, the company says the combined monthly repayments are less than if you took out a 95 percent mortgage to buy the same home. And unlike shared ownership schemes, you don’t have to pay rent on the 15 percent of your home funded by a Proportunity loan.

More broadly Proportunity is attempting to solve a very London-centric problem: house prices are so high and continue to rise that by the time you save up for a 20 percent deposit to secure a mortgage you can afford, property prices in the area you want to buy will have increased enough to put it out of reach again. Or you’ll be left buying a smaller property.

“One of the biggest societal challenges we face is getting the next generation onto the housing ladder,” explains CEO Vadim Toader, who founded Proportunity with CTO Stefan Boronea. “The big

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Restaurant booking startup Eatigo chows down 10M more from TripAdvisor

Eatigo, a Southeast Asia-based dining service that describes itself as an ‘anti-Groupon’ for restaurants, had a busy 2017 that saw it expand into a number of markets including India. Now it is primed to continue that growth further still after it gobbled down a fresh serving of capital from TripAdvisor, the travel giant that it already counts as an investor.

Ok, no more food jokes, I promise…

The funding is undisclosed but Eatigo CEO and co-founder Michael Cluzel told TechCrunch it is ‘eight-digits.’ We do know that it takes Eatigo to over $25 million raised to date which, given that the startup had raised more than $15 million following the completion of its previous round, suggests that the amount is around the $10 million mark.

Eatigo was founded in Bangkok in 2013 and it is designed to help restaurants fill unused inventory by offering deals to customers at certain times of the day. The appeal to eaters is deals, but unlike group buying services such as Groupon, Eatigo encourages restaurants to manage their inventory and time so that they are filling their quiet hours for additional revenue not ramming people into restaurants for the sake of it. The latter scenario, of course, puts pressure on staff, reduces service quality and is generally not conducive to a good dining experience. It is also questionable whether discounts drive long-time loyalty, a cornerstone the Groupon of old was built on, but I digress.

The Eatigo service is present in six countries where it claims four million registered users and over 4,000 restaurants. That latter number ranges from high-end affairs, such as upscale hotel restaurants, to chain outlets and — my own personal favorite — street food outlets.

The important part here, besides the money, is that this new deal appears to signal a closer relationship between Eatigo and TripAdvisor, and particularly TripAdvisor’s The Fork subsidiary and its TripAdvisor Restaurants service.

The Fork, which the company got via a 2014 acquisition, is TripAdvisor’s expansion into food, allowing users to find information on availability and bookings on restaurants and in cities. Like Eatigo, it allows for advanced bookings at a discount but the service is squarely focused on Europe, having initia

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