Category: Startups

BusinessStartups

Thames Water spent £20mn on failed KKR rescue due diligence

Thames Water reportedly paid over £20 million to cover KKR’s due diligence costs for a rescue bid that ultimately collapsed. The payment comes as the financially strained utility faces mounting pressure from £20 billion in debt and crumbling infrastructure, with customers potentially footing the bill for advisory fees.

Thames Water, the UK’s largest water utility currently teetering on the brink of financial collapse, paid more than £20 million to cover a private equity firm’s due diligence costs for a rescue bid that never materialized, according to recent reports. The substantial payment to KKR has raised fresh concerns about cash leakage from the troubled company at a time when it’s struggling under £20 billion of debt.

Failed Rescue Attempt

by Darren Holt
SoftwareStartups

Amerigo App Streamlines Mobile File Management with Integrated Browser and Cloud Sync

A new mobile application reportedly simplifies file handling by integrating web browsing with download management. The tool automatically categorizes content and supports multiple cloud storage services, according to reports.

Integrated File Management Solution Emerges

A new mobile application called Amerigo is transforming how users handle files on their devices, according to recent reports. Instead of juggling separate browsers and file managers, sources indicate this all-in-one solution enables seamless downloading, organization, and access to content through a unified interface.

by Darren Holt
CybersecuritySoftwareStartups

JumpCloud Expands Identity Security Platform with Breez Acquisition

JumpCloud has acquired identity threat detection startup Breez to strengthen its security offerings. This represents the company’s third acquisition in 2024 as it builds a comprehensive identity security platform.

Strategic Acquisition Enhances Identity Security

JumpCloud has reportedly acquired Breez, a two-year-old startup specializing in identity threat detection and response capabilities, according to company announcements. Sources indicate this acquisition represents JumpCloud’s third strategic purchase this year as the company continues building what it describes as a unified platform for identity security.

by Darren Holt
BusinessStartups

Trump Grants Pardon to Binance Founder Changpeng Zhao in Major Crypto Policy Shift

In a significant move, Donald Trump has issued a presidential pardon to Changpeng Zhao, the founder of Binance, who was convicted for anti-money laundering failures. This action marks a pivotal moment in the administration’s approach to cryptocurrency regulation and industry dynamics.

Presidential Pardon for Crypto Mogul

Former President Donald Trump has granted a pardon to Changpeng Zhao, the founder of Binance, the world’s largest cryptocurrency exchange, according to a White House statement released Thursday. The pardon follows Zhao’s guilty plea in 2023 for failing to maintain an effective anti-money laundering program, for which he was sentenced to four months in prison and his company paid a $4.3 billion settlement.

by Darren Holt
AIBusinessStartups

Mondra Secures €11.8 Million Series A to Scale AI-Powered Food Supply Chain Sustainability Platform

Mondra, a London-based climate technology firm, has reportedly raised €11.8 million in Series A funding to accelerate its European expansion. The company’s AI platform helps food industry giants track environmental impact and anticipate supply chain disruptions.

Major Funding Round for Supply Chain Sustainability

London-based climate technology platform Mondra has reportedly secured €11.8 million (£10 million) in a Series A funding round, according to sources familiar with the matter. The investment was reportedly led by AlbionVC and Planet A Ventures, with participation from Swisscom, PeakBridge, Ponderosa Ventures and Green Circle Foodtech Ventures. This substantial funding round follows a £3.4 million (€4 million) Pre-Series A round completed last year.

by Darren Holt
BusinessStartups

RSM Launches Transatlantic Partnership as Private Equity Alternative for Accounting Firms

RSM’s US and UK operations have formed a strategic partnership offering member firms an alternative to private equity investment. The arrangement enables greater collaboration and investment capacity while maintaining local control over sensitive audit operations.

New Partnership Structure Emerges

RSM’s US and UK leadership have established a new transatlantic partnership that offers member firms across the global accounting network an alternative to private equity investment, according to reports. The agreement between RSM US and RSM UK creates a unified leadership structure with Brian Becker, chief executive of RSM US, heading the combined entity.

by Natalie Brooks