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Futuristic transit company Hyperloop One to shut down
After years of attempting to reinvent the nature of transit with a futuristic tube-based concept that would bring passengers and freight between locations at high speed, the startup Hyperloop One is shuttering its doors on Dec. 31. A report from Bloomberg, citing people familiar with the matter, stated the company is laying off employees and attempting ...
Web3 growth marketing firm Addressable raises $6M
Addressable Ltd., a company that helps blockchain and crypto companies advertise to customers, today announced it has raised $6 million to help it expand its service to more blockchains and reach more advertising networks. The funding round was led by Bitkraft Ventures, with participation from strategic investor Karatage. Existing investors Viola Ventures, Fabric Ventures, Mensch Capital Partners ...
Apple publishes research to bring AI models to iPhones and make videos into 3D avatars
New research projects from Apple Inc. into artificial intelligence have shown that the company is forging ahead with generative AI tools that will bring significant efforts to the industry including the ability to run AI models on devices with limited memory. The research papers were first reported by VentureBeat, the first of which would allow more ...
Cybersecurity simulation firm SimSpace raises $45M to help companies prepare for attacks
U.S.-based military-grade cybersecurity firm SimSpace Corp. said Tuesday that it has secured $45 million in new funding in an equity raise led by L2 Point Management, a private investment firm, to support the growth of its platform and expansion into new regions. Founded by experts from U.S. Cyber Command and MIT’s Lincoln Laboratory, the company provides services ...
Harvey raises $80M to build generative AI for legal professionals
Harvey AI, a generative artificial intelligence startup focused on the legal profession, announced Tuesday that it has secured a $80 million Series B funding round that raised the company’s valuation to $715 million. The funding round was co-led by Elad Gil and Kleiner Perkins with participation from OpenAI’s startup fund, the developer of the popular ChatGPT AI ...
Lightmatter raises $155M for photonic computing at $1.2B valuation
Lightmatter Inc., a startup building computing products that use light for computing, said today that it has raised $155 million in additional funding increasing the company’s valuation to $1.2 billion. The funding was led by GV, the venture capital arm of Alphabet Inc., and Viking Global Investors, which is an extension to the company’s Series ...
Google to pay $700M to settle Play Store antitrust case with US states and consumers
Google LLC has agreed to pay $700 million and change the policies of how operates its Google Play app store to settle an antitrust lawsuit with U.S. states and consumers. The settlement, tentatively agreed upon in September, was formally disclosed late Monday evening. It provides for a $630 million customer fund and an additional $70 ...
Apple to stop Watch Series 9 and Ultra 2 sales in the US starting Thursday
Apple Inc. said that it will soon suspend the sale of two of its flagship Apple Watch models later this this week in the United States after a ruling from the U.S. International Trade Commission. The Apple Watch Series 9 and Apple Watch Ultra 2 will be pulled from websites on Dec. 21 and pulled ...
Adobe and Figma end $20B proposed merger amid regulatory issues
Adobe Inc. has called off a planned $20 billion acquisition of the collaboration software developer Figma Inc. after the European regulators set sights on the deal and said the merger could reduce competition in local markets. Adobe and Figma announced this morning that the companies mutually agreed to terminate the cash-and-stock agreement, originally announced on Sept. 15, ...
Inverted AI secures $4M to simulate human drivers with generative AI to help develop autonomous vehicles
Inverted AI, a Vancouver-based company that uses generative artificial intelligence for autonomous vehicle development, announced Thursday it has raised $4 million in early-stage funding to realistically simulate human drivers on roadways. The seed funding round was led by Yaletown Partners, with participation from investors including Blue Titan Ventures, Dasein Capital, Inovia Capital, Defined and WUTIF. Inverted AI ...