Psychedelic biotech, Gogoro’s SPAC, H-1B for Ukrainians – TechCrunch

You may not have heard of Amadeus, but if you’ve taken a trip, you’ve probably interacted with its tech stack.

Launched in 1987, the company provides inventory management and booking services to hundreds of transportation and hospitality service providers. “In short, it covers just about every conceivable aspect of travel computing,” writes corporate journalist Ron Miller.

For years, Amadeus managed its own infrastructure, but as the pandemic slowed global travel, its management team realized that rising technical debt was holding the company back.

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To learn more about his planned three-year migration to public cloud, Ron interviewed Sébastien Pellisé, Deputy Head of Public Cloud Transformation, and Fredrik Odeen, Amadeus Head of Public Cloud Transformation and Strategy. business,

They shared their process for evaluating cloud providers, described Amadeus’ move to a DevOps model, and explained how they communicate the expected benefits to customers. “Our engineers are thrilled with this decision,” Pellisé said.

Amadeus has 16,000 employees and made more than $2 billion in revenue last year, but early-stage startups can learn from its digital transition, writes Ron.

“As your technology becomes obsolete, you too will have to make similar decisions.”

Thanks so much for reading – have a great weekend!

Walter Thompson
Editor-in-Chief, TechCrunch+

Gogoro’s public debut could boost EV battery trading across the globe

A photograph of a woman standing next to a scooter in front of a Gogoro battery swap station

Picture credits: gogoro (Opens in a new window)

If you can map every oasis in a desert, you have created a transportation network.

Gogoro, which operates a battery-swapping platform for two-wheeled electric vehicles in urban areas, is doing something similar: On Monday, it completed a SPAC merger with Poema Global that will raise around $335 million in species.

“Gogoro will use the fresh funds from its IPO to continue to expand in Taiwan as it diversifies into larger markets like China, India and Indonesia,” writes transport journalist Rebecca bellan.

6 Questions Investors Should Ask When Evaluating Psychedelic Biotech Companies

Lab technician holding a psilocybin mushroom

Picture credits: Yarygin (Opens in a new window) /Getty Pictures

A few years ago, ingesting small amounts of psychedelics to improve mood or productivity was a Silicon Valley conversation piece.

Today, psychedelic therapies are used to treat a variety of mental health issues. And as more regions decriminalize the use of herbal substances, investors are taking notice.

With plans to raise a $25 million fund and over $15 million already invested, PsyMed Ventures is focused on early stage startups developing psychedelic therapies.

In a TC+ guest post, partners Matias Serebrinsky and Greg Kubin explore their investment thesis in detail: “We believe in a future where psychedelic therapy will be as common as going to the dentist, but the path will not be easy.”

Dear Sophie: Supporting Ukrainians with H-1Bs and beyond

Lone figure at the entrance to the maze hedge which has an American flag in the center

Picture credits: Bryce Durbin/TechCrunch

Dear Sophia,

We are a startup that currently has one employee, originally from Ukraine, working for us on an H-1B visa. He is trying to get his parents out of Ukraine.

We have also entered a potential Ukrainian employee who fled to Poland into the H-1B lottery, but he has not yet been selected.

How can we support them?

— United with Ukraine

The fundraising market is losing some of its founder-friendly luster

Picture credits: Nigel Susman (Opens in a new window)

As VCs tug on the reins, valuations plummet and the 2021 hype fades, founders find themselves working harder to raise capital than they were in 2021, Alex Wilhelm found in his analysis of the first data from DocSend.

“When we consider this shift in sentiment and the fact that totals have fallen from fourth quarter levels, we can infer that the second quarter of 2022 could easily signal another sequential decline in global venture capital activity and American,” he wrote.

What Binance’s Axie Infinity Bailout Means For The Future Of Crypto

In this photo illustration, the Binance logo is visible

Picture credits: SOPA Images (Opens in a new window) /Getty Pictures

After strangers stole $625 million from the Axie Infinity cryptocurrency game last week, the studio behind the game announced that it had raised $150 million to compensate users.

“What is interesting about this funding round is that it was led by crypto exchange Binance – the largest exchange in the world – although Binance has not participated in previous increases in Sky Mavis,” writes Anita Ramaswamy.

“Today’s investment shows, if at all, how important Axie’s precedent is to the development of the broader ecosystem – and how willing VCs and crypto incumbents are to bend over backwards to make sure he succeeds.”

3 ways deep tech founders can get out of pilot purgatory

Woman looking at opening in Jomblang cave

Picture credits: Yinwei Liu (Opens in a new window) /Getty Pictures

Because so many high-tech startups operate at the cutting edge of technology, founders in this space have a harder time raising funds, acquiring customers, and adapting to the product market.

Many of these companies will stagnate early because they never move from the pilot stage to full-scale deployment. “This is a large, widespread, and industry-specific problem,” says Champ Suthipongchai, co-founder and general partner of Creative Ventures.

“While I don’t presume to have a silver bullet, I do know three ways deep tech founders can ensure their time in pilot purgatory ends with a deployment.”

Why VCs don’t need to fear a financial downturn

daisy flower in the desert

Picture credits: masik0553 (Opens in a new window) /Getty Pictures

According to Marc Schröder, managing partner at MGV, “seed-stage investing is the best place to deploy venture capital when global uncertainty arises.”

Instead of pouring money into “companies that needed massive growth and scale to keep growing in their valuations,” investors are turning to smaller startups with “scaling challenges.” more reasonable scale”.

Eventually, any prolonged cooling in public markets will begin to reduce the amount of resources available to startups, “but that may not be the worst thing for investors looking to double their investments at attractive prices,” says Schröder. .

Terra founder plans to back his stablecoin with a “basket” of cryptocurrencies

Illustration of a man on a swing holding coins.

Picture credits: Nuthawut Somsuk (Opens in a new window) /Getty Pictures

In an interview with journalist Jacquelyn Melinek, Terraform Labs founder Do Kwon explained how his plan to buy $10 billion in bitcoin will help bring the stablecoin TerraUSD (UST) deeper into the ecosystem. crypto.

Terra will support UST with additional Layer 1 blockchains as it expands its ecosystem, Kwon said.

“We’re big supporters of Bitcoin, so we’ll just keep buying whenever we get the chance.”

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