Wednesday, July 10, 2024

Adfin wants to fix bill payments for sole traders and small companies

Meet Adfin, a new UK-based fintech startup that wants to help companies get their invoices paid — whatever it takes. Founded by two fintech experts, the company is starting with a problem and building a product around it. The problem is that it’s still hard to get paid if you’re set up as a sole […]

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Reliance may list Jio at $112 billion valuation next year, Jefferies says

Reliance Industries, India’s most valuable company, may consider spinning off its telecom arm Jio for a public listing as early as 2025, Jefferies said in a research note, with investors favouring this route over an initial public offering. The move follows Jio’s recent focus on monetisation and market share gains, signaled by its leading role […]

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Apple alerts iPhone users in 98 countries to mercenary spyware attacks

Apple has issued a new round of threat notifications to iPhone users across 98 countries, warning them of potential mercenary spyware attacks. It’s the second such alert campaign from the company this year, following a similar notification sent to users in 92 nations in April. Since 2021, Apple has been regularly sending these notifications, reaching […]

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Beeble AI raises $4.75M to launch a virtual production platform for indie filmmakers

Visual effects (VFX) have emerged as essential in filmmaking and have transformed storytelling and creativity in the film industry with its diverse digital techniques. However, the high cost of VFX tools often leaves independent filmmakers and content creators working with modest budgets struggling to compete with larger productions. A new company, Beeble AI, is turning […]

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Elon Musk does not owe ex-Twitter staffers $500 million in severance, court rules

Elon Musk faces several lawsuits for firing more than 6,000 Twitter employees, including then-CEO Parag Agrawal, following Musk’s 2022 takeover of the social media platform. On Tuesday, Musk defeated one of those lawsuits, as a federal judge ruled X Corp. doesn’t owe the ex-employees any more severance. The lawsuit, filed by Twitter’s former head of […]

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Elon Musk does not owe ex-Twitter staffers $500 million in severance, court rules

Elon Musk faces several lawsuits for firing more than 6,000 Twitter employees, including then-CEO Parag Agrawal, following Musk’s 2022 takeover of the social media platform. On Tuesday, Musk defeated one of those lawsuits, as a federal judge ruled X Corp. doesn’t owe the ex-employees any more severance. The lawsuit, filed by Twitter’s former head of […]

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As Microsoft leaves its observer seat, OpenAI says it won’t have any more observers

Months after Microsoft gained an observer seat on OpenAI’s board, the company is leaving the position of the non-voting seat. In a letter sent to OpenAI on Tuesday, Microsoft said that the company has seen enough progress being made in the AI company and is confident in its direction, according to Axios. OpenAI said that […]

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Tuesday, July 9, 2024

Deep tech startups with very technical CEOs raise larger rounds, research finds

SaaS founders trying to figure out what it takes to raise their next round can refer to Point Nine’s famous yearly SaaS Funding Napkin. (The term refers to “back of the napkin” plans or calculations.) Now, European hardware deep tech teams have a similar resource from First Momentum, a pre-seed fund investing in technical B2B […]

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Iceland is dodging the VC doldrums as Frumtak Ventures lands $87 million for its fourth fund

Iceland’s startup scene is punching above its weight. That’s perhaps in part because it kept the 2021 hype in check, but mostly because its tech ecosystem is coming of age. Iceland attracted the most venture capital per capita of all Nordic countries in 2023, but that stat is somewhat skewed by its relatively small population […]

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Index Ventures raises $2.3 billion for new venture and growth funds

Index Ventures is announcing $2.3 billion in new funds to finance the next generation of tech startups globally. These new funds are spread across different stages with $800 million dedicated to venture investment and $1.5 billion set aside for growth and late-stage companies. How do these funds compare to the previous ones? In 2021, Index […]

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Anthropic’s Claude adds a prompt playground to quickly improve your AI apps

Prompt engineering became a hot job last year in the AI industry, but it seems Anthropic is now developing tools to at least partially automate it. Anthropic released several new features on Tuesday to help developers create more useful applications with the startup’s language model, Claude, according to a company blog post. Developers can now […]

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AI startup Hebbia raised $130M at a $700M valuation on $13 million of profitable revenue

Hebbia, a startup that uses generative AI to search large documents and respond to large questions, has raised a $130 million Series B at a roughly $700 million valuation led by Andreessen Horowitz with participation of Index Ventures, Google Ventures and Peter Thiel. And its funding demonstrates that 50x annual recurring revenue (ARR) is becoming […]

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