8/8/23

∆ Tech in the News

Zoom Won’t Train AI on User Data - This came in response to the uproar over new service terms allowing them to do so alongside the launch of its asynchronous recorded video chat tool.

Palantir Raises 2023 Revenue Forecast - The revalue was based on the "unprecedented" demand for its Artificial Intelligence Platform. Peter Thiel’s security titan has authorized a $1B share buyback on this news.

Record-Setting 2nd Net Energy Gain in Fusion - Scientists have replicated 2022 results, producing an even higher energy yield, using lasers to fuse two light atoms, with huge clean power, defense, and quantum tech implications.

SoftBank Alleges Fraud in IRL Suit - The action sues the former CEO of the failed startup for $150M over an investment they claim was based on fake user base figures and concealed data.

’Watershed Moment’ as PayPal Launches Stablecoin - The USD-pegged PYUSD runs on the Ethereum network and is backed by Paxos’s USD deposits. It’ll be transferable to other digital wallets and usable for payments.

˚The hottest thing in tech this week

Zillow set to Shape the Future of Real Estate with Generative AI

The Real Estate giant unveiled plans to build a housing “super app” incorporating AI to address various aspects of real estate including buying, selling, and renting. Zillow is no stranger to AI, in 2006 debuting the “Zestimate” algorithm using models to estimate home values.

After launching their ChatGPT integration in May, it’s more recent genAI advancements seek to continue reimagining the customer experience through more “natural dialogue” and leveraging Zillow’s data to help users find the home that’s best for them.

Zillow brings a large amount of revenue from its “Premier Agent” service and aims to go beyond marketing and empower Real Estate agents with enhanced AI tools to improve their interactions with users and minimize time spent on tedious tasks.

Deals We’re Watching

Founders to Watch and Opportunities to Catch

Closed Deals:

Tractian Pulls $45M For Industrial Sensors R&D - The Atlanta startup’s Series B led by General Catalyst will bolster R&D, HR and expanded U.S. presence.

Revolutionizing AI-Driven Workplace Analytics - One Model raised $41 million in funding led by Riverwood Capital to offer data science-powered insights to HR professionals and execs.

Fighting Financial Crime With AI - IVIX raised $12.5M in a Series A led by Insight Partners to expand the AI-powered platform to help governments globally fight fraud and tax evasion

Multiplayer Unlocks Complex Dev Problems - The NY Startup, raised $3M seed funding to enhance distributed software development with a solution for visualizing complex system architectures. The public beta is set to launch in fall.

Windup Minds Next Gen Virtual Pets - Ex Oculus and EA Industry vets raised $1.6M pre-seed funding to develop interactive pet games in VR and mixed reality with a focus on building emotional connection.

Companies to Watch:

AI-driven upskilling platform seeks global expansion - [Disprz] Closes Series C raising $30M targeting an M&A strategy and integrating Gen AI across the app.

Early Unicorn Cyber Risk Platform Secures Series D - San Fran Startup Resilience has raised a total of $200M+ led by Intact Insurance and Lightspeed with aims of going deeper into their technology to differentiate even further.

Skyline Cleans Up With $6.3M Raise - The Israeli Startup raised $6.3M in a Seed round including Alumni Ventures and Kärcher New Venture to continue developing a robotic system for cleaning windows in skyscrapers,

Next-Gen AI Acceleration Hardware - Hailo unveils another edge computing product - The Hailo-8 Processor - based on demand for its acceleration devices to power deep learning at significantly less cost.

Open Deal

BondbloX Shaking Up Bond Market - BondEvalue, the Singapore-based Fintech behind Bond Exchange (BBX) aims to raise $10M in a Series B2 round to fortify the world's first blockchain-based bond exchange.

IPO Watch

Triller's IPO Announced - Triller's S-1 filing on the NYSE emphasizes its AI-powered platform for short-form video that aims to increase market share and give content creators a better deal.

Know of an AI startup on the rise or leading the way? Clue us in and we'll spotlight them in our next issue.

Thanks for tuning in.

The Tech Buzz Team