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This Week in London Startups - Issue #18, 31st August 2021

This Week in London Startups - Issue #18, 31st August 2021
By London Startup Club • Issue #18 • View online

Three hours a week: Play time's over for China's young video gamers
Three hours a week: Play time's over for China's young video gamers
Whether you were a gamer as a kid or know some now, the rise in online gaming has seen addiction levels rise across the world. Often it’s up to parents or guardians to limit and monitor how much game time is enough.
In a controversial move, China is further limiting play time for under 18’s to 3 hours per week for online gaming. They limit under-18s to playing for one hour a day - 8 p.m. to 9 p.m. - on only Fridays, Saturdays and Sundays, according to the Xinhua state news agency.
This is being mandated by the government, meaning all gaming providers will be required by law to enforce and monitor this. According to the National Press and Publication Administration, online gaming has an impact on both the physical and mental health of minors
The changes will mean all gamers will require ID verification - so no more hiding behind your online usernames like xX-0nlin3-Gamer-Xx.
Adult users will still be able to play 24/7, so perhaps under 18’s will simply start using their parents or older siblings accounts.
The announcement has seen shares drop as well. Amsterdam-listed tech investment company Prosus, which holds a 29% stake in Chinese social media and video games group Tencent, were down 1.45%, while European online video gaming stocks Ubisoft and Embracer Group each fell over 2%.
Haris Qureshi, Editor & Co-Founder @ London Startup Club
This week’s spotlight is community member, Shane Smith, who is the Non Executive Chairman at is a video-first SaaS platform designed to help female and under-x founders generally to engage with investors, and for accelerator demo day and pitch competition hosts to reach wider international investor audiences. 
They’ve also just kicked off their funding round, so be sure to connect with Shane if you’re interested in participating in the round.
Got something worth shining a spotlight on? Message me on LinkedIn, and we’ll get you scheduled in for an upcoming newsletter!
Top News
  • Cazoo begin trading on NYSE under the symbol “CZOO”, more here
  • Zepz, Formerly WorldRemit, Raises Cash at $5B Valuation, more here
  • Glovo riders go on strike as European gig workers rise up, more here
  • LoftyInc Capital launches third fund at $10M for a more diverse portfolio of African startups, more here
  • Square to launch a new paid subscription, Invoices Plus, more here
  • Zoom announces first startups receiving funding from $100M investment fund, more here
  • A majority of tech workers support antitrust legislation enforcement, more here
UK Funding Rounds
  • London-based waste removal tech platform LITTA secures £2M funding in Series A round, more here
  • social investment platform eyes to launch in UK in 2021; raises $10M, more here
  • Cambridge startup, Echion, that makes next-gen materials for Li-Ion batteries bags £10M funding, more here
  • London-based sustainable food delivery firm Oddbox raises £16M to fight food waste, more here
  • Plentific, London proptech bags £72.8M to fuel growth and more, more here
  • Phos, a London fintech company that offers software-only POS for smartphones, secures £1.7M, more here
International Highlights
  • Prosus acquires Indian payments giant BillDesk for $4.7B, will merge with its PayU fintech group, more here
  • Southeast Asia “omnichannel” health startup Doctor Anywhere gets $88M SGD, more here
  • New Zealand-based student well-being platform Komodo raises $1.8M NZD, more here
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