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Cappuccino lets you share short, intimate audio stories with your friends

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You might call Cappuccino the anti-Clubhouse, but the company has been iterating on its app concept for a couple of years — its CEO doesn’t have any strong opinions on Clubhouse. And it’s true that Cappuccino is an interesting social app on its own. It has been attracting a loyal user base, especially after a TikTok video went viral.

The startup says it is building an app that helps you record podcasts with friends. Many people have discovered podcasts over the past few years. Podcasts let you subscribe to audio shows and listen to episodes on demand.

At first, people subscribe to podcasts because of their interests. But if you talk about podcasts with your friends, they’ll tell you that they like a show in particular because of the personalities of the hosts.

Listening to a podcast is a content consumption experience that feels like nothing else out there. You might watch all videos released by a particular YouTuber and you might think you know a lot about someone’s personal life by following them on Instagram.

But listening to someone for hours at a time with earbuds in your ears is a very intimate experience. When a podcast works, it feels like you’re sitting in a room with a few friends and just listening to what they have to say.

And yet, chances are your favorite podcast hosts are not your friends.

This is where Cappuccino fits. The app lets you create groups with your friends or your families. Members of the group can record a short audio message — a bean, as the startup calls it. They talk about what’s on their mind for a couple of minutes. The next morning, group members receive a notification saying that your morning cappuccino has been brewed.

When you hit play, a chill intro music starts playing followed by audio messages from your friends. It isn’t just a succession of voice memos — it feels like a relaxing mix of happy, funny, caring, thoughtful messages from your friends.

While Cappuccino is a social app, it is focused on your close friends and your family. You aren’t trying to get more followers and you are not sharing public posts. Everything is private by design and focused on groups of real-life friends.

In many ways, it reminds me of Snapchat’s group stories. But Snapchat wasn’t the main inspiration for Cappuccino — it was podcasting.

Image Credits: Cappuccino

Prototype early, iterate often

I talked with the company’s co-founder and CEO Gilles Poupardin about the origin story of the app. Cappuccino isn’t Poupardin’s first startup. He had worked on Whyd for several years and lived the full startup experience — he raised founding rounds, chose to pivot, attended Y Combinator in San Francisco, parted ways with his company’s CTO and chose to shutter the startup.

Among other things, Whyd worked on a voice-controlled connected speaker before Amazon’s Echo product lineup and Google’s Nest speakers really took off. It’s hard to compete with tech giants, even harder when you’re competing on the hardware front.

After that, the Whyd team worked on a service that lets you create your own voice assistant. That didn’t really take off as expected either.

During the summer of 2019, Olivier Desmoulin reached out to Poupardin. Back then, Desmoulin was heading design for Jumbo, an app that helps you stay on top of your online privacy.

“At the time, I didn’t know if I wanted to start a company again — I pivoted 15 times [with Whyd],” Poupardin told me.

But they started discussing about podcasts and AirPods — and audio at large — as the next frontier for social apps. The basic premise was simple. A lot of people were listening to podcasts, but very few people were creating their own podcasts.

There are three reasons why your neighbor doesn’t have its own podcast but sometimes posts stuff on Instagram and Snapchat:

  • Podcasts are long-form content
  • It’s technically complicated to record and release a podcast
  • You are trying to attract an audience of people who don’t know you.

With Cappuccino, the idea is to take a reverse stance on these three points: short content, easy to record and personal. It’s supposed to be a better experience for both people recording audio and people listening to audio.

The first version of Cappuccino isn’t an app, it’s a side project. “We created a group on WhatsApp, we invited 10 to 15 people and we asked them to record voice memos and send them all to Olivier,” Poupardin told me.

Every night, Olivier Desmoulin would fire up GarageBand and create a mix of all voice memos. In the morning, he would send a message to the group conversation on WhatsApp and write: “Hey, your cappuccino is here.”

Image Credits: Cappuccino

After getting some positive feedback from group members, Pouparding and Desmoulin chose to move forward and create something that feels more like an app. But they both knew that creating a social app was incredibly hard when it comes to attracting users. They developed something quickly so that they weren’t wasting time developing something that nobody would use.

“We built the first version of the app in four days by using a hack — we were using Airtable as the backend service,” Poupardin said.

Once again, feedback from beta users was pretty good. They showed the app to some investors and ended up raising $1.2 million from Alexia Bonatsos (Dream Machine, also a former TechCrunch editor), SV Angel, Kevin Carter (Night Capital), Niv Shrug Capital, Jean de La Rochebrochard (Kima Ventures), Kevin Kuipers, Willy Braun, Marie Ekeland, Solomon Hykes (founder of Docker), Pierre Valade (founder of Sunrise and Jumbo Privacy), Moshe Lifschitz (Basement Fund), Anthony Marnell, Bryan Kim and a bunch of others.

Gawen Arab who was the CTO at Whyd teamed up once again with Poupardin, proving that time is a flat circle. He’s now co-founder and CTO at Cappuccino.

Image Credits: Cappuccino

Letting people talk about you

The Cappuccino team hasn’t been active when it comes to press relations or ads. It’s been a slow build up with some interesting spikes.

Last summer, Product Hunt super user Chris Messina created a post about Cappuccino. It was a bit of a surprise as the startup wasn’t trying to get featured on Product Hunt. Still, the co-founders diligently answered questions from the Product Hunt community.

The following day, Product Hunt’s newsletter featured Cappuccino. It was titled “The next big audio social network?” That brought some new users to the app.

Image Credits: Cappuccino

But things really started to take off when Brittany Kay Collier shared a video on TikTok about Cappuccino a few weeks ago. She sent a direct message to Poupardin on Instagram, telling him that it was attracting a lot of views. The video ended up attracting around 3.8 million views and 850,000 likes.

Two days later, Poupardin sent her a job offer to join the team. He was secretly hoping she would say yes, and she was secretly dreaming about getting a job at a company like Cappuccino.

Over the past couple of weeks, Cappuccino attracted 225,000 new users. They created 130,000 groups and sent around one million audio stories.

When the team is reading public posts about Cappuccino on Twitter, it feels like the app has found its core user base. The most loyal users seem to be young women in their twenties. They want to keep in touch with long-distance best friends.

They might be graduating from college and moving to a different part of the country. They might be stuck at home because of the current pandemic.

And it seems like new users have no issue hitting the record button and telling stories — everybody is familiar with voice messages on WhatsApp and iMessage after all.

“Something that is interesting with audio messages as a medium is that you tell different stories from what you would tell by taking a photo for Instagram, sending a Snap or creating a video on TikTok,” Poupardin said.

But what about the elephant in the room then? Clubhouse has topped 8 million downloads already. Poupardin listed all the differences in social graph, audio format and user base. According to him, there’s enough room for multiple audio apps.

“With video, you have YouTube, Twitch and TikTok — those are all different formats. Audio is potentially going to follow the same trend,” Poupardin said. Social apps first took advantage of the camera in your smartphone, because the camera was the killer hardware feature. And audio seems like the natural next step.

He feels like he isn’t competing with other audio startups for now. He wants people to wake up and listen to Cappuccino instead of random music on Spotify. “It’s going to help people who feel lonely,” he said.

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Vietnamese electric motorbike startup Dat Bike raises $2.6M led by Jungle Ventures

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Son Nguyen, founder and chief executive officer of Dat Bike on one of the startup's motorbikes

Son Nguyen, founder and chief executive officer of Dat Bike

Dat Bike, a Vietnamese startup with ambitions to become the top electric motorbike company in Southeast Asia, has raised $2.6 million in pre-Series A funding led by Jungle Ventures. Made in Vietnam with mostly domestic parts, Dat Bike’s selling point is its ability to compete with gas motorbikes in terms of pricing and performance. Its new funding is the first time Jungle Ventures has invested in the mobility sector and included participation from Wavemaker Partners, Hustle Fund and iSeed Ventures.

Founder and chief executive officer Son Nguyen began learning how to build bikes from scrap parts while working as a software engineer in Silicon Valley. In 2018, he moved back to Vietnam and launched Dat Bike. More than 80% of households in Indonesia, Malaysia, Thailand and Vietnam own two-wheeled vehicles, but the majority are fueled by gas. Nguyen told TechCrunch that many people want to switch to electric motorbikes, but a major obstacle is performance.

Nguyen said that Dat Bike offers three times the performance (5 kW versus 1.5 kW) and 2 times the range (100 km versus 50 km) of most electric motorbikes in the market, at the same price point. The company’s flagship motorbike, called Weaver, was created to compete against gas motorbikes. It seats two people, which Nguyen noted is an important selling point in Southeast Asian countries, and has a 5000W motor that accelerates from 0 to 50 km per hour in three seconds. The Weaver can be fully charged at a standard electric outlet in about three hours, and reach up to 100 km on one charge (the motorbike’s next iteration will go up to 200 km on one charge).

Dat Bike’s opened its first physical store in Ho Chi Minh City last December. Nguyen said the company “has shipped a few hundred motorbikes so far and still have a backlog of orders.” He added that it saw a 35% month-over-month growth in new orders after the Ho Chi Minh City store opened.

At 39.9 million dong, or about $1,700 USD, Weaver’s pricing is also comparable to the median price of gas motorbikes. Dat Bike partners with banks and financial institutions to offer consumers twelve-month payment plans with no interest.

“These guys are competing with each other to put the emerging middle class of Vietnam on the digital financial market for the first time ever and as a result, we get a very favorable rate,” he said.

While Vietnam’s government hasn’t implemented subsidies for electric motorbikes yet, the Ministry of Transportation has proposed new regulations mandating electric infrastructure at parking lots and bike stations, which Nguyen said will increase the adoption of electric vehicles. Other Vietnamese companies making electric two-wheeled vehicles include VinFast and PEGA.

One of Dat Bike’s advantages is that its bikes are developed in house, with locally-sourced parts. Nguyen said the benefits of manufacturing in Vietnam, instead of sourcing from China and other countries, include streamlined logistics and a more efficient supply chain, since most of Dat Bike’s suppliers are also domestic.

“There are also huge tax advantages for being local, as import tax for bikes is 45% and for bike parts ranging from 15% to 30%,” said Nguyen. “Trade within Southeast Asia is tariff-free though, which means that we have a competitive advantage to expand to the region, compare to foreign imported bikes.”

Dat Bike plans to expand by building its supply chain in Southeast Asia over the next two to three years, with the help of investors like Jungle Ventures.

In a statement, Jungle Ventures founding partner Amit Anand said, “The $25 billion two-wheeler industry in Southeast Asia in particular is ripe for reaping benefits of new developments in electric vehicles and automation. We believe that Dat Bike will lead this charge and create a new benchmark not just in the region but potentially globally for what the next generation of two-wheeler electric vehicles will look and perform like.”

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Binance Labs leads $1.6M seed round in DeFi startup MOUND, the developer of Pancake Bunny

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Decentralized finance startup MOUND, known for its yield farming aggregator Pancake Bunny, has raised $1.6 million in seed funding led by Binance Labs. Other participants included IDEO CoLab, SparkLabs Korea and Handshake co-founder Andrew Lee.

Built on Binance Smart Chain, a blockchain for developing high-performance DeFi apps, MOUND says Pancake Bunny now has over 30,000 daily average users, and has accumulated more than $2.1 billion in total value locked (TVL) since its launch in December 2020.

The new funding will be used to expand Pancake Bunny and develop new products. MOUND recently launched Smart Vaults and plans to unveil Cross-Chain Collateralization in about a month, bringing the startup closer to its goal of covering a wide range of DeFi use cases, including farming, lending and swapping.

Smart Vaults are for farming single asset yields on leveraged lending products. It also automatically checks if the cost of leveraging may be more than anticipated returns and can actively lend assets for MOUND’s cross-chain farming.

Cross-Chain Collateralization is cross-chain yield farming that lets users keep original assets on their native blockchain instead of relying on a bridge token. The user’s original assets serve as collateral when the Bunny protocol borrows assets on the Binance Smart Chain for yield farming. This allows users to keep assets on native blockchains while giving them liquidity to generate returns on the Binance Smart Chain.

In statement, Wei Zhou, Binance chief financial officer, and head of Binance Labs and M&A’s, said “Pancake Bunny’s growth and MOUND’s commitent to execution are impressive. Team MOUND’s expertise in live product design and servie was a key factor in our decision to invest. We look forward to expanding the horizons of Defi together with MOUND.”

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Battery Resourcers raises $20M to commercialize its recycling-plus-manufacturing operations

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As a greater share of the transportation market becomes electrified, companies have started to grapple with how to dispose of the thousands of tons of used electric vehicle batteries that are expected to come off the roads by the end of the decade.

Battery Resourcers proposes a seemingly simple solution: recycle them. But the company doesn’t stop there. It’s engineered a “closed loop” process to turn that recycled material into nickel-manganese-cobalt cathodes to sell back to battery manufacturers. It is also developing a process to recover and purify graphite, a material used in anodes, to battery-grade.

Battery Resourcers’ business model has attracted another round of investor attention, this time with a $20 million Series B equity round led by Orbia Ventures, with injections from At One Ventures, TDK Ventures, TRUMPF Venture, Doral Energy-Tech Ventures and InMotion Ventures. Battery Resourcers CEO Mike O’Kronley declined to disclose the company’s new valuation.

The cathode and anode, along with the electrolyzer, are major components of battery architecture, and O’Kronley told TechCrunch it is this recycling-plus-manufacturing process that distinguishes the company from other recyclers.

“When we say that we’re on the verge of revolutionizing this industry, what we are doing is we are making the cathode active material — we’re not just recovering the metals that are in the battery, which a lot of other recyclers are doing,” he said. “We’re recovering those materials, and formulating brand new cathode active material, and also recovering and purifying the graphite active material. So those two active materials will be sold to a battery manufacturer and go right back into the new battery.”

“Other recycling companies, they’re focused on recovering just the metals that are in [batteries]: there’s copper, there’s aluminum, there’s nickel, there’s cobalt. They’re focused on recovering those metals and selling them back as commodities into whatever industry needs those metals,” he added. “And they may or may not go back into a battery.”

The company says its approach could reduce the battery industry’s reliance on mined metals — a reliance that’s only anticipated to grow in the coming decades. A study published last December found that demand for cobalt could increase by a factor of 17 and nickel by a factor of 28, depending on the size of EV uptake and advances in battery chemistries.

Thus far, the company’s been operating a demonstration-scale facility in Worcester, Massachusetts, and has expanded into a facility in Novi, Michigan, where it does analytical testing and material characterization. Between the two sites, the company can make around 15 tons of cathode materials a year. This latest funding round will help facilitate the development of a commercial-scale facility, which Battery Resourcers said in a statement will boost its capacity to process 10,000 tons of batteries per year, or batteries from around 20,000 EVs.

Another major piece of its proprietary recycling process is the ability to take in both old and new EV batteries, process them and formulate the newest kind of cathodes used in today’s batteries. “So they can take in 10-year-old batteries from a Chevy Volt and reformulate the metals to make the high-Ni cathode active materials in use today,” a company spokesman explained to TechCrunch.

Battery Resourcers is already receiving inquiries from automakers and consumer electronics companies, O’Kronley said, though he did not provide additional details. But InMotion Ventures, the venture capital arm of Jaguar Land Rover, said in a statement its participation in the round as a “significant investment.”

“[Battery Resourcers’] proprietary end-to-end recycling process supports Jaguar Land Rover’s journey to become a net zero carbon business by 2039,” InMotion managing director Sebastian Peck said.

Battery Resourcers was founded in 2015 after being spun out from Massachusetts’ Worcester Polytechnic Institute. The company has previously received support from the National Science Foundation and the U.S. Advanced Battery Consortium, a collaboration between General Motors, Ford Motor Company and Fiat Chrysler Automobiles.

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