Welcome to The Week in Tech, your roundup of the latest top tech news. This week, we have info on Uber’s new CEO, the planned IPO by UK tech firm appScatter, a self-serve ice cream van from Barclaycard and much more.
Sky-Futures, a UK provider of drone-based industrial inspection technology, is to receive $4m (£3.1m) from Mitsui & Co Ltd of Japan.
The two firms have entered into a partnership which will see Sky-Futures provide drone inspection capabilities to Mitsui’s companies and customers in the energy, marine and infrastructure sectors.
Money Dashboard’s £1.3m
FinTech startup Money Dashboard raised £1.3m via crowdfunding platform Crowdcube.
The Edinburgh-based firm runs a personal finance app that enables users to view all their bank accounts in one place. The app tracks transactions and groups them into categories so it is easy for users to see where exactly their money is going each month.
Money Dashboard set out to raise £1m on Crowdcube, but exceeded this goal raising a total of £1,331,810 from over 1,700 investors.
Survey reveals confidence in London’s ability to produce its first $10bn FinTech company
London analytics firm appScatter announced its intention to float on the AIM market of the London Stock Exchange on 5th September.
Founded in 2015, the company operates a B2B SaaS platform that allows clients to distribute and manage apps on multiple app stores. Customers can also track the performance of their applications.
In connection with the listing, the company has conditionally raised £9m in an oversubscribed placing of 13,846,154 new ordinary shares at a price of 65 pence per ordinary share. This will result in appScatter having a market cap of £41.1m.
Toyota invests in Grab
Toyota invested in Grab, Uber’s biggest ride-hailing rival in Southeast Asia.
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The Japanese car firm is taking part in the financing round that already includes investment from SoftBank and Didi Chuxing, a Chinese ride-hailing firm.
The round is estimated to total $2.5bn which, Reuters reports, will value Singapore-based Grab at $6bn.
Uber announces new CEO
Uber’s board of directors selected Expedia’s Dara Khosrowshahi as the company’s new CEO.
Khosrowshahi will replace the ride-hailing firm’s former CEO and co-founder Travis Kalanick, who resigned following the emergence of a series of scandals and controversies.
Exclusive: Vesta raises £2.1m for its online property rental marketplace
The Financial Times reports the new CEO as saying he hopes to take the company public within 18-36 months
PayPal launches cashback credit card
PayPal is launching a new credit card, which will provide users with cashback on purchases.
The PayPal Cashback MasterCard will offer 2% back on purchases, with no annual fee, no minimum redemption amount, no restrictions on how to spend the cashback, and no expiration.
The card is only available to PayPal members, and is automatically added to users’ PayPal wallets, once they sign up.
Download of the week
Our download of the week is one to keep the kids occupied over the last few days of the summer holidays. PlayPatch is a free app that allows kids aged four to six to play games, puzzles, and colour in characters from Hollybridge – a community of farming Beans.
Barclaycard announced it is piloting ‘Contactless Cones’ in an attempt to reduce long queues at icecream vans. The company’s contactless self-service ice cream van allows customers to pay for and pour their own ice cream in less than 60 seconds.