Startups

a16z and Benchmark-backed 11x has been claiming customers it doesn’t have

Last year, AI-powered sales automation startup 11x appeared to be on an explosive growth trajectory. However, nearly two dozen sources – including investors, current and former employees – tell TechCrunch that the company has experienced financial struggles, largely of its own making.  Numerous people in the U.S. and U.K. told TechCrunch that the situation has

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Vertical farming company Plenty files for bankruptcy after raising nearly $1B

Vertical farming company Plenty has filed for bankruptcy, the company said in a press release on Monday. In its statement, Plenty said it has received a commitment for $20.7 million in debtor-in-possession financing as part of a proposed restructuring plan. It plans to continue to operate a strawberry farm in Virginia and a plant science

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AI creation platform Arcade expands from jewelry to home goods

Arcade, a generative AI marketplace for designing jewelry, is expanding its offerings to include home goods, starting with rugs. The company on Monday also introduced a new feature called “Match My Room,” which allows users to upload a photo of their room so that their design complements the existing colors and style. Alongside this expansion,

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Next Insurance gets scooped up by Munich Re for $2.6B

Germany’s Munich Re has signed a definitive agreement to acquire digital insurance company Next Insurance for $2.6 billion, the firms announced on Thursday. Founded in 2016, Palo Alto-based Next Insurance is focused on providing insurance to small-to-medium-sized businesses. It was last valued at $2.5 billion in late 2023 when it raised $265 million. Next Insurance’s

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