As UK Gov reaches out to tech, investors threaten to ‘pull capital’ over M&A regulator over-reach

Rishi Sunak in a meeting

As the UK’s Chancellor of the Exchequer engaged with the tech industry at a ‘Chatham House’ style event today, the Coalition for a Digital Economy (Coadec) think-tank released a survey of over 50 key investors which found startup investors are prepared to pull capital over the prospect of the Competition and Markets Authority’s (CMA) new Digital Markets Unit (DMU) becoming a “whole-economy regulator by accident”. Investors are concerned after the CMA recommended the DMU be given ‘expanded powers’ regarding its investigations of M&A deals.

Read More

Affinity, a relationship intelligence company, raises $80M to help close deals

Affinity

Affinity wants to take what Ray Zhou, co-founder and CEO, refers to as “data exhaust,” all of those daily interactions and communications, and apply machine learning analysis and provide insights on who in the organization has the best chance of getting that initial meeting and closing the deal.

Read More

Allianz backs AV8 Ventures’ second fund focused on AI technologies

av8 Ventures

AV8 Ventures unveiled its AV8 Ventures II fund with $180 million from Allianz Group, an insurance and asset management giant, aimed at supporting entrepreneurs developing artificial intelligence-driven technologies in the areas of health, mobility, enterprise and deep tech.

Read More

Insurify, a ‘virtual insurance agent,’ raises $100M Series B

Insurify

Today, Insurify, a startup that wants to help people make it easier to get better rates on home, auto and life insurance, announced that it has closed $100 million in an “oversubscribed” Series B funding round led by Motive Partners.

Read More

ICON lands $207M Series B to construct more 3D-printed homes after seeing 400% YoY revenue growth

Icon

Creating single-family homes for the homeless using 3D printing robotics. Developing construction systems to create infrastructure and habitats on the moon, and eventually Mars, with NASA. Delivering what is believed to be the largest 3D-printed structure in North America — a barracks for Texas Military Department. These are just some of the things that Austin, Texas-based construction tech startup ICON has been working on.

Read More

Jerry raises $75M at a $450M valuation to build a car ownership ‘super app’

Jerry

Existing backer Goodwater Capital doubled down on its investment in Jerry, leading the “oversubscribed” round. Bow Capital, Kamerra, Highland Capital Partners and Park West Asset Management also participated in the financing, which brings Jerry’s total raised to $132 million since its 2017 inception. Goodwater Capital also led the startup’s Series B earlier this year. Jerry’s new valuation is about “4x” that of the company at its Series B round, according to co-founder and CEO Art Agrawal.

Read More

TetaVi raises $20 million for its Metaverse-focused Computer Vision Tech

Tetavi's volumetric video software

Gilad Talmon never expected to be at the helm of a metaverse company. The current CEO of TetaVi was working at a defense startup in 2018 when he went to meet his group of high school friends for one of their weekly board game sessions, a 20-plus year tradition. Micha Birnboim was there — as usual — and asked him to come take a look at technology his new startup was working on. It used AI with a focus on computer vision  to make it quicker and easier to create immersive 3D content for the metaverse.

Read More

Dataiku captures $400 million Series E round funding to grow its Data Science and ML Platform

Dataiku

Data science platform maker Dataiku has reeled in another $400 million in venture capital, giving it nearly $647 million in funding since it was founded in 2012. This latest $400 million, which comes in as a Series E Round, arrives as the startup now has a market capitalization of $4.6 billion.

Read More

Moderne Ventures closes second fund with $200M, targets industry digital transformation

Moderne Ventures

Since 2015, Constance Freedman, founder and managing partner of Moderne Ventures, and partner Liza Benson have built up a network of more than 700 executives across the real estate, finance, insurance and home services industries.

Read More

Blameless raises $30M to guide companies through their software lifecycle

Blameless

Site reliability engineering platform Blameless announced Tuesday it raised $30 million in a Series B funding round, led by Third Point Ventures with participation from Accel, Decibel and Lightspeed Venture Partners, to bring total funding to over $50 million.

Read More

NotCo gets its horn following $235M round to expand plant-based food products

Noco - Not milk

NotCo, a food technology company making plant-based milk and meat replacements, wrapped up another funding round this year, a $235 million Series D round that gives it a $1.5 billion valuation.

Read More

Untitled Ventures joins the scramble for Russian & Eastern European startups with a $118M warchest

Untitled Ventures

Sorry Mr. Putin, but there’s a race on for Russian and Eastern European founders. And right now, those awful capitalists in the corrupt West are starting to out-gun the opposition! But seriously… only the other day a $100 million fund aimed at Russian speaking entrepreneurs appeared, and others are proliferating.

Read More

Computer Vision software startup Algolux brings in $18.4M in Series B Funding

Algolux

Algolux, a computer vision startup that builds software for advanced driver assistance systems (ADAS) and for autonomous vehicles, has secured $18.4 million in new Series B funding from a group of investors that includes General Motors’ investment division, GM Ventures.
The new funding, which raises the Montreal, Canada-based company’s total funding to $36.8 million so far, was co-led by investors Forte Ventures and Drive Capital. Other investors include Investissement Quebec, Castor Ventures, Nikon-SBI Innovation Fund, GM Ventures, Generation Ventures and Intact Ventures.
The fresh influx of cash will be used by Algolux to help promote and grow the company’s computer vision and image optimization technologies with vehicle makers so they can use them with their future vehicles, according to the company. Algolux will also use the money to expand its engineering and marketing teams, while also exploring additional vertical markets for its technologies. The latest funding round was announced by Algolux on July 12 (Monday).
The company’s computer vision software is used with in-vehicle cameras as part of ADAS and autonomous vehicles in a market that is continuing to grow in use and popularity.
Image courtesy: Algolux
“Unfortunately, vision – the most widely deployed component of the overall perception stack – is still hampered by performance issues in low light and poor weather conditions making SAE Levels 2 and above more challenging to support,” the company said in its press release.
To battle this problem, Algolux uses computational imaging to design algorithms that treat the camera as part of the overall perception stack, which is a departure from the traditional siloed approach, according to the company. This approach resolves problems such as low light, low contrast and obstructions for object detection, imaging and geometric estimation, which provides clearer images and resolution. The use of the physical camera models also reduces training data needs by an order of magnitude, resulting in Algolux technologies outperforming commercial solutions by as much as 60 points in mean average precision (mAP), according to the company.
“We are thrilled to be taking this next step in the company’s trajectory and to do so with the trust and support of outstanding investors,” Allan Benchetrit, the CEO of Algolux, said in a statement. “Algolux is actively engaged with leading OEMs, Tier 1s, and Tier 2s globally. The consistent theme is a desire from customers to significantly improve the performance of their driving and parking vision systems in even the most challenging real-world situations.”
Shelly Kramer, analyst
Shelly Kramer, a founding partner and lead analyst with Futurum Research, told EnterpriseAI that Algolux’s latest funding news is an indicator of just how important computer vision is and how it will continue to move forward in the automotive sector.
“The fact that camera-based advanced driver assistance systems are table stakes when it comes to driving experiences today – both driver-led and autonomous – combined with the fact that camera tech still has a long way to go in terms of functionality and accuracy, means this is good news for the industry,” said Kramer. “Algolux’s computational imaging as part of the algorithm design process bodes well for all those days when my car’s camera tells me it can’t see because of weather conditions — and for the computer vision industry and the automotive industries. This is especially good news for the trucking industry and autonomous vehicles. This is an industry, and a company, to watch.”
James Kobielus, senior research director for data communications and management at TDWI, a data analytics consultancy, said the computer vision market today is “extraordinarily overcrowded” and that its use for automotive safety still has a long way to go before it is ready for primetime deployment.
James Kobielus, analyst
“I am impressed with Algolux’s focus on AI-powered cameras for robust perception in all conditions,” said Kobielus. “It approaches visual imaging as an integral, but not self-sufficient, component of the automotive perception stack. Without supplementary sensing inputs–such as radar, LiDAR, infrared, and ultrasound—and the composite AI to tie it all together in real time, automotive computer vision systems are extremely prone to mistakes from ever-present visual phenomena, such as low lighting, low contrast, and obstructed sightlines.”
The larger trend in the marketplace is the deployment of AI-driven perception stacks in which computer vision is essentially the sum of all sensor inputs that can be rendered as visual patterns, said Kobielus.
“Through sophisticated AI, it is increasingly possible to infer a highly accurate visual portrait from the radio frequency signals that people and objects reflect, the pressure and vibrations they generate, and the heat patterns that they radiate,” he said. “Algolux will need the funding to invest in the R&D necessary to improve its composite AI and to work with industry partners to build it into the ASICs necessary for ADAS safety applications.”

Related

Tags:
ADAS,AI,Algolux,artificial intelligence,autonomous driving,autonomous vehicles,computer vision,GM Ventures,IT investment,Machine Learning,self-driving cars,startup,venture capital

Read More

Here’s what you should know about evaluating an AI Startup for Investment

AI investment

Interest in the deep tech space has been growing in recent years, particularly within the investment community. And of all the sectors operating within the realm of deep tech, artificial intelligence (AI) has become a burgeoning market to watch. According to data from the National Venture Capital Association, $19.98 billion was raised by 1,509 AI companies in the US alone in 2019.

Read More

Altada Technology Solutions appoints Máire P. Walsh as Chief Commercial Officer

Atada Technology Solutions

Altada Technology Solutions, a global provider of artificial intelligence (“AI”) solutions that enhance automation and data-driven decision-making, announced that Máire P. Walsh has been appointed as Chief Commercial Officer (“CCO”). Máire will lead the company’s commercial strategy which will further enable Altada to deliver value and build business relationships across multiple sectors from the company’s San Francisco office.

Read More

Tiger Global leads $34M investment into Unit21, a no-code fraud prevention platform

Unit 21 AI

Unit21, a startup that helps businesses monitor fraudulent activities with its no-code software, announced today it has raised $34 million in a Series B round of funding led by Tiger Global Management.

Read More

Virti Raises $10M to Train Real People With Virtual Humans

British virtual training startup Virti has closed a $10 million Series A funding round led by IQ Capital. Virti’s digital environment uses AI-powered virtual humans to train people in communication and other skills. Initially focused on doctors and other medical professional skills, the startup is expanding into other enterprise training such as sales and management.

Read More
1 2 3