Airalo Secures $220 Million Investment and Becomes a Unicorn
Airalo, a US-based startup specializing in eSIM cards for travelers, has raised $220 million in a funding round that valued the company at over $1 billion, making it the first unicorn in this industry.
The investment round was led by CVC, which contributed $185 million through its CVC Asia Fund VI. Existing investors Peak XV and Antler Elevate also participated.
Airalo plans to use the new funds to enhance user experience, including strengthened customer support, new products, improved quality-to-price ratio, and a platform for providing connectivity to businesses.
Apple Invests $500 Million in MP Materials for Magnet Production in the US
Apple has signed a long-term agreement with MP Materials, a rare earth metal producer, to invest $500 million in manufacturing magnets in the United States.
According to the collaboration terms, MP Materials will supply Apple with magnets produced at its Fort Worth, Texas facilities using recycled raw materials processed in their Mountain Pass, California plant.
Magnet production is expected to begin in 2027. MP Materials also announced plans to expand magnet production capacity at its Fort Worth facilities.
Rare earth metals are essential for manufacturing components in smartphones, computers, and other tech devices, as well as vehicles and robots.
Inditex to Reopen Lefties in France
Inditex, the parent company of Zara, plans to expand its low-cost brand Lefties in France, according to the CEO’s announcement to investors on Tuesday. The move aims to attract more young consumers and increase competition against Shein and other rivals.
The planned reopening marks Lefties’ return to France, where it was first launched in 2009 before closing its two French stores in 2012.
Founded 25 years ago, Lefties started as a retailer of Zara’s leftovers and now operates in 18 countries. The brand competes with online-only retailers like Shein, which offer extremely low prices.
Lefties’ dresses cost $9.90 euros (approximately $11.55 USD) and jeans $12.99 euros, comparable to Shein and Primark prices, providing a more affordable alternative to Zara, which has raised its prices in recent years.
Roblox Launches Licensing Platform
Roblox announced the launch of a new licensing platform, including the Roblox Licensing Administrator and Licensing Catalog, to facilitate collaboration between creators and intellectual property holders.
The goal is for 10% of all video game content revenue to flow through the Roblox ecosystem, benefiting its community. The company launched the platforms with initial partners Netflix, Lionsgate, Sega, and Kodansha, offering seven initial intellectual property titles for eligible creators.
