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Funding roundup July 24 – July 29: Great Wrap, Fitstop, Servicely and more

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Funding roundup July 24 – July 29: Great Wrap, Fitstop, Servicely and more

Dynamic Business brings you the key startup fundraising from this week:

Great Wrap (Series A funding)

How much: $24 million

Participants: The $11 million equity round involved Darren Thomas, W23, Grill’d Innovation Fund, Giant Leap, Small Giants, Thai Wah Ventures, GroundSwell, Trail Mix Ventures and Springbank Collective, plus a raft of other impact investors from Australia, the USA and Singapore. 

The investment has been amplified by $13 million of non-dilutive capital from DLL Group, Rabobank’s asset financing arm.

Great Wrap is on a mission to remove the 150,000 tonnes of plastic stretch wrap sent to Australia’s landfill each year. Great Wrap has just received its B Corp Certification and was awarded in the AFR Sustainability Leaders List as Category Innovator. 

Fitstop

How much: $3.3 million

Participants: Lift Brands

The homegrown athlete-inspired fitness franchise has continued to attract high-profile athletes as owners and inspired over 17,000 members, built from creating a dedicated fitness community seeking performance-based training. Fitstop partnered with Vytality Group, which will see 80 locations open in the Sydney market over the next five years.

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Servicely

How much: $1.2 Million

Participants: Investors include a combination of high-net-worth individuals and a family office.

At the core of the Servicely low-code service management platform is a proprietary AI engine that Observes and Learns how work is being done by staff to be able to Augment and automate work as the system gets smarter.

KOBA Partners with Birchal 

KOBA has announced they are opening a crowdsource funding round in partnership with Birchal

KOBA has launched their connected pay-per-KM car insurance product throughout Australia and is growing its customer base 70 per cent month-on-month, with drivers paying from 3¢ per KM they drive. To date, KOBA has successfully raised $1.75 million from Birchal, angel investors and insurance-specific funds, including Hunter Equity Group and Insurtech Gateway. 

To learn more about KOBA and join the cap table, visit the Birchal site or pre-register at www.kobaInsurance.com.au

Human

How much: $10.15 million

Participants: The raise was led by Airtree Ventures, supported by Skip Capital, the family VC of Kim Jackson and her husband, Atlassian co-founder Scott Farquhar.

Human believes that people need a simpler way to access medical information and research, and real-time health data that could help is currently being lost.

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Local Threads (pre-seed round)

How much: $500,000 

Participants: The round was led by Dr Qin Ding, co-founder of EMQ, a data cloud warehousing platform, with support from angel investors Alex Yin, founder of fashion brand UOOYAA, and Eric Liam.

Local Threads is the largest marketplace for ethical fashion from Australia’s best independent brands. 

Findex raises capital for Botanical Water Technologies (BWT)

How much: 15 million

Findex is a privately-owned provider of integrated financial advisory and accounting services in Australia and New Zealand

UK-based BWT has created the process of harvesting water naturally stored in plants, creating the world’s first plant-based water. Partnering with Fujitsu, they are building the Botanical Water Exchange (BWX), a blockchain-based water trading platform that provides full transparency of the entire supply chain and connects producers and consumers efficiently. 

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Uber and Lyft agree to pay drivers $32.50 per hour in Massachusetts settlement

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Uber and Lyft agree to pay drivers $32.50 per hour in Massachusetts settlement

BOSTON (AP) — Drivers for Uber and Lyft will earn a minimum pay standard of $32.50 per hour under a settlement announced Thursday by Massachusetts Attorney General Andrea Campbell, in a deal that also includes a suite of benefits and protections.

The two companies will also be required to pay a combined $175 million to the state to resolve allegations that the companies violated Massachusetts wage and hour laws, a substantial majority of which will be distributed to current and former drivers.

Campbell said the settlement resolves her office’s yearslong litigation against the two companies and stops the threat of their attempt to rewrite state employment law by a proposed 2024 ballot initiative.

That question would have resulted in drivers receiving inadequate protections and an earnings standard that would not guarantee minimum wage, she said.

“For years, these companies have underpaid their drivers and denied them basic benefits,” Campbell said in a written statement. “Today’s agreement holds Uber and Lyft accountable, and provides their drivers, for the very first time in Massachusetts, guaranteed minimum pay, paid sick leave, occupational accident insurance, and health care stipends.”

Democratic Gov. Maura Healey said the settlement delivers “historic wages and benefits to right the wrongs of the past and ensure drivers are paid fairly going forward.”

In a statement Lyft said the agreement resolves a lawsuit that recently went to trial, and avoids the need for the ballot initiative campaign this November.

“More importantly, it is a major victory in a multiyear campaign by Bay State drivers to secure their right to remain independent, while gaining access to new benefits,” the company said.

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Uber also released a statement calling the agreement “an example of what independent, flexible work with dignity should look like in the 21st century.”

“In taking this opportunity, we’ve resolved historical liabilities by constructing a new operating model that balances both flexibility and benefits,” the company said. “This allows both Uber and Massachusetts to move forward in a way that reflects what drivers want and demonstrates to other states what’s possible to achieve.”

The companies were pushing a ballot question that would classify drivers as independent contractors eligible for some benefits, but Campbell said the settlement stops the threat of the ballot question. A competing ballot question seeks to give drivers the right to unionize in Massachusetts.

Drivers will now earn one hour of sick day pay for every 30 hours worked, up to a maximum of 40 hours per year. As part of the agreement, Uber and Lyft must update their driver applications so drivers are able to view and claim their sick leave directly in the app. Drivers will also receive a stipend to buy into the state’s paid family and medical leave program.

Under the deal, Uber and Lyft will also allow drivers to pool together their hours driving for the two companies to obtain access to a health insurance stipend. Anyone who drives for more than 15 hours per week — for either or both companies — will be able to earn a health insurance stipend to pay for a plan on the Massachusetts Health Connector.

Drivers will be eligible for occupational accident insurance paid by the companies for up to $1 million in coverage for work-related injuries.

The agreement also requires the companies to provide drivers with key information — about the length of a trip, the destination and expected earnings — before they are expected to accept a ride.

The companies are barred from discriminating against drivers based on race, religion, national origin, sex, sexual orientation, gender identity, disability or other protected identities — and can’t retaliate against drivers who have filed a complaint about the companies with the Attorney General’s Office.

The deal also requires the companies to provide drivers in-app chat support with a live person in English, Spanish, Portuguese and French and must provide drivers with information about why they have been deactivated and create an appeals process.

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Michigan farmworker diagnosed with bird flu, becoming 2nd US case tied to dairy cows

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Michigan farmworker diagnosed with bird flu, becoming 2nd US case tied to dairy cows

A Michigan dairy worker has been diagnosed with bird flu — the second human case associated with an outbreak in U.S. dairy cows.

The male worker had been in contact with cows at a farm with infected animals. He experienced mild eye symptoms and has recovered, U.S. and Michigan health officials said in announcing the case Wednesday.

A nasal swab from the person tested negative for the virus, but an eye swab tested Tuesday was positive for bird flu, “indicating an eye infection,” U.S. Centers for Disease Control and Prevention officials said.

The worker developed a “gritty feeling” in his eye earlier this month but it was a “very mild case,” said Dr. Natasha Bagdasarian, Michigan’s chief medical executive. He was not treated with oseltamivir, a medication advised for treating bird flu, she said.

The risk to the public remains low, but farmworkers exposed to infected animals are at higher risk, health officials said. They said those workers should be offered protective equipment, especially for their eyes.

Health officials say they do not know if the Michigan farmworker was wearing protective eyewear, but an investigation is continuing.

In late March, a farmworker in Texas was diagnosed in what officials called the first known instance globally of a person catching this version of bird flu from a mammal. That patient reported only eye inflammation and recovered.

Since 2020, a bird flu virus has been spreading among more animal species — including dogs, cats, skunks, bears and even seals and porpoises — in scores of countries.

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The detection in U.S. livestock earlier this year was an unexpected twist that sparked questions about food safety and whether it would start spreading among humans.

That hasn’t happened, although there’s been a steady increase of reported infections in cows. As of Wednesday, the virus had been confirmed in 51 dairy herds in nine states, according to the U.S. Agriculture Department. Fifteen of the herds were in Michigan.

The CDC’s Dr. Nirav Shah said the case was “not unexpected” and it’s possible more infections could be diagnosed in people who work around infected cows.

U.S. officials said they had tested 40 people since the first cow cases were discovered in late March. Michigan has tested 35 of them, Bagdasarian told The Associated Press in an interview.

Shah praised Michigan officials for actively monitoring farmworkers. He said health officials there have been sending daily text messages to workers exposed to infected cows asking about possible symptoms, and that the effort helped officials catch this infection. He said no other workers had reported symptoms.

That’s encouraging news, said Michael Osterholm, a University of Minnesota epidemiologist who has studied bird flu for decades. There’s no sign to date that the virus is causing flu-like illness or that it is spreading among people.

“If we had four or five people seriously ill with respiratory illness, we would be picking that up,” he said.

The virus has been found in high levels in the raw milk of infected cows, but government officials say pasteurized products sold in grocery stores are safe because heat treatment has been confirmed to kill the virus.

The new case marks the third time a person in the United States has been diagnosed with what’s known as Type A H5N1 virus. In 2022, a prison inmate in a work program picked it up while killing infected birds at a poultry farm in Montrose County, Colorado. His only symptom was fatigue, and he recovered. That predated the virus’s appearance in cows.

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The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.

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At collapsed Baltimore bridge, focus shifts to the weighty job of removing the massive structure

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At collapsed Baltimore bridge, focus shifts to the weighty job of removing the massive structure

BALTIMORE (AP) — Teams of engineers worked Saturday on the intricate process of cutting and lifting the first section of twisted steel from the collapsed Francis Scott Key Bridge, which crumpled into the Patapsco River this week after a massive cargo ship crashed into one of its supports.

Sparks could be seen flying from a section of bent and crumpled steel in the afternoon, and video released by officials in the evening showed demolition crews using a cutting torch to slice through the thick beams. The joint incident command said in a statement that the work was being done on the top of the north side of the collapsed structure.

Crews were carefully measuring and cutting the steel from the broken bridge before attaching straps so it can be lifted onto a barge and floated away, Coast Guard Rear Adm. Shannon Gilreath said.

Seven floating cranes — including a massive one capable of lifting 1,000 tons — 10 tugboats, nine barges, eight salvage vessels and five Coast Guard boats were on site in the water southeast of Baltimore.

Each movement affects what happens next and ultimately how long it will take to remove all the debris and reopen the ship channel and the blocked Port of Baltimore, Maryland Gov. Wes Moore said.

“I cannot stress enough how important today and the first movement of this bridge and of the wreckage is. This is going to be a remarkably complicated process,” Moore said.

Undeterred by the chilly morning weather, longtime Baltimore resident Randy Lichtenberg and others took cellphone photos or just quietly looked at the broken pieces of the bridge, which including its steel trusses weigh as much as 4,000 tons.

“I wouldn’t want to be in that water. It’s got to be cold. It’s a tough job,” Lichtenberg said from a spot on the river called Sparrows Point.

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The shock of waking up Tuesday morning to video of what he called an iconic part of the Baltimore skyline falling into the water has given way to sadness.

“It never hits you that quickly. It’s just unbelievable,” Lichtenberg said.

WHAT HAPPENS NEXT

One of the first goals for crews on the water is to get a smaller auxiliary ship channel open so tugboats and other small barges can move freely. Crews also want to stabilize the site so divers can resume searching for four missing workers who are presumed dead.

Two other workers were rescued from the water in the hours following the bridge collapse, and the bodies of two more were recovered from a pickup truck that fell and was submerged in the river. They had been filling potholes on the bridge and while police were able to stop vehicle traffic after the ship called in a mayday, they could not get to the construction workers, who were from Mexico, Guatemala, Honduras and El Salvador.

The crew of the cargo ship Dali, which is managed by Synergy Marine Group, remained on board with the debris from the bridge around it, and were safe and were being interviewed. They are keeping the ship running as they will be needed to get it out of the channel once more debris has been removed.

The vessel is owned by Grace Ocean Private Ltd. and was chartered by Danish shipping giant Maersk.

The collision and collapse appeared to be an accident that came after the ship lost power. Federal and state investigators are still trying to determine why.

Assuaging concern about possible pollution from the crash, Adam Ortiz, the Environmental Protection Agency’s mid-Atlantic Regional Administrator, said there was no indication in the water of active releases from the ship or materials hazardous to human health.

REBUILDING

Officials are also trying to figure out how to handle the economic impact of a closed port and the severing of a major highway link. The bridge was completed in 1977 and carried Interstate 695 around southeast Baltimore.

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Maryland transportation officials are planning to rebuild the bridge, promising to consider innovative designs or building materials to hopefully shorten a project that could take years.

President Joe Biden’s administration has approved $60 million in immediate aid and promised the federal government will pay the full cost to rebuild.

Ship traffic at the Port of Baltimore remains suspended, but the Maryland Port Administration said trucks were still being processed at marine terminals.

The loss of a road that carried 30,000 vehicles a day and the port disruption will affect not only thousands of dockworkers and commuters, but also U.S. consumers, who are likely to feel the impact of shipping delays. The port handles more cars and more farm equipment than any other U.S. facility.

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Collins reported from Columbia, South Carolina. Associated Press writers Sarah Brumfield in Washington, D.C.; Kristin M. Hall in Nashville, Tennessee; Adrian Sainz in Memphis, Tennessee; and Lisa Baumann in Bellingham, Washington, contributed.

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