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Startup News
Siliconangle
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Image Credit: Siliconangle
Superconducting chip startup Snowcap Compute reels in $23M
- Snowcap Compute Inc. has raised $23 million in funding for developing processors from semiconducting materials.
- Former Intel CEO Pat Gelsinger has joined Snowcap's board.
- The startup, based in Palo Alto, plans to use superconducting logic for enhanced processing speed and efficiency.
- Electrons passing through superconducting materials do not generate heat, potentially increasing data center efficiency.
- Snowcap aims to produce chips using niobium titanium nitride for AI accelerators and other applications.
- The company's superconducting technology is claimed to be 25 times more power-efficient than current chips.
- Hydrogen-powered cryogenic equipment will be used to cool the superconducting materials used in Snowcap's chips.
- Snowcap's processors will utilize Josephson junctions, addressing technical challenges and reducing manufacturing costs.
- The company plans to manufacture its first chip by the end of 2026, followed by more advanced systems.
- Snowcap aims to make superconductor-based chips more accessible by utilizing existing fabs and 300-millimeter wafers.
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Medium
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215
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What Nobody Tells You About Making with Tech as a Student in Africa
- Students in Africa are quietly using AI, automation, and low-code tools to make money.
- AI tools like ChatGPT, Canva AI, LangChain, and Make.com are empowering students.
- Students are writing blogs, automating tasks, selling bots, and creating mini SaaS tools.
- There are myths that you need to know how to code or compete with pros online, but they are debunked.
- Students have successfully earned money by providing digital services using AI tools.
- One student automated bookings for a local hair stylist, earning N20,000.
- Another student in Kenya makes over $100/week editing AI-written content.
- A student in Ghana runs a 'study buddy bot' on Telegram and charges for access.
- Students can start earning without waiting to graduate or needing a laptop.
- To start, pick a tool, watch YouTube tutorials, solve a small problem, and offer it to someone.
- The article encourages students to start using AI tools to solve real problems and earn money.
- AI tools are freely accessible, and potential clients are nearby.
- The article aims to inform students about the opportunities available to them through technology.
- Students are urged to start using tools like ChatGPT, Make, or Canva AI to kickstart their digital earning journey.
- The key message is that anyone, regardless of background, can leverage tech tools to generate income.
- Students are advised to start small, solve problems, and offer services to begin making money with tech.
- The article emphasizes that students can start earning through technology without traditional barriers.
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Medium
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351
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Magical Thinking: The Most Expensive Mistake in Tech
- The article discusses the dangers of 'magical thinking' in the tech industry, which involves making bold claims before fully understanding the implications.
- It highlights past examples like ML in Cybersecurity, SOAR strategies, RPA, Low-Code solutions, and AI deployments that fell short due to unrealistic expectations.
- Many automation efforts failed due to skipping over governance, process design, and facing the realities of implementation.
- The focus on 'LLM Everything' in the future is predicted to encounter similar challenges, with McKinsey data indicating low success rates in early AI projects.
- The article emphasizes the importance of understanding the limitations of technology and aligning expectations with reality.
- It warns against succumbing to hype cycles and inflated expectations, stressing the significance of hard work and perseverance in achieving success in tech.
- The narrative underscores the need to build products with a clear problem-solving focus before aiming to create a movement or larger impact.
- It concludes by highlighting that while hype can propel initial excitement, sustained success in tech requires a grounded approach and a commitment to facing challenges head-on.
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Siliconangle
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57
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Harvey raises $300M in funding for its legal AI assistant
- Harvey, an AI software developer for legal professionals, raised $300 million in Series E funding led by Kleiner Perkins and Coatue, valuing the company at $5 billion.
- Harvey's AI tools aim to boost productivity for legal teams, with its platform used by over 330 law firms and generating $75 million in revenue annually.
- Its flagship AI tool, Harvey Assistant, helps automate legal document drafting, reviews drafts against internal guidelines, proofreads, translates, and auto-fills contract fields.
- Harvey's redlining feature automates summarizing document changes, leveraging a custom AI model with about 100,000 parameters and neural network architecture.
- The company uses off-the-shelf language models and plans to incorporate AI models from LexisNexis post-funding.
- Proceeds from the investment will double Harvey's workforce and support expansion into new market segments beyond law.
- Harvey's technology involves turning PDF contracts into images and applying filters before inputting into AI models to enhance accuracy and inference speed.
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Moneyweb
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356
The change of pace that Naspers and Prosus needed
- The appointment of Fabricio Bloisi as CEO of Prosus has brought about positive changes, with investors responding favorably since his appointment in May 2024.
- Under Bloisi's leadership, Prosus has started to generate healthy profits from its own operations, with earnings per share doubling in the financial year ending March 2025.
- Both Naspers and Prosus will be doubling their dividends, showcasing the progress made under the new CEO.
- Despite challenges like Chinese regulations on Tencent and a volatile global economic environment, share prices of both companies have increased significantly.
- Bloisi's communication with shareholders has been praised for clarity and vision, hinting at a promising future for the companies.
- Prosus is transitioning to a tech-first culture, focusing on building a leading lifestyle e-commerce company in Latin America, India, and Europe.
- The company is also heavily investing in artificial intelligence to enhance its e-commerce operations and customer experience.
- Prosus and Naspers plan to continue their share buyback programs to provide value to shareholders and reduce discounts to net asset value.
- Since Bloisi's tenure, more than $35 billion in value has been returned to shareholders through share repurchases.
- The companies have seen significant improvements in their net asset value per share, demonstrating growth and strategic financial management.
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Moneyweb
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61
Prosus posts large profit from its own operations
- Prosus and Naspers have reached a point where their operating companies are profitable besides Tencent's contribution.
- Prosus achieved strong profitability, with e-commerce earnings increasing significantly in the financial year ending March 2025.
- The group's revenue from e-commerce ventures rose by 21% to $6.2 billion, with notable increases in various sectors.
- Prosus reported an operating profit of $1783 million compared to a loss in the prior year, with a substantial increase in equity-accounted results.
- Cash flow from operating activities rose to $599 million, with cash reserves exceeding $7 billion.
- Prosus aims to continue its growth momentum with an optimistic outlook for the future financial year, expecting further profitability and dividend increases.
- The company made significant acquisitions, such as Despegar and Just Eat Takeaway.com, worth billions.
- Prosus executed mergers and acquisitions totaling $836 million and sold businesses to strengthen its portfolio.
- The market responded positively to Prosus' improved profitability and strategic moves, with shares rising despite Tencent's decline.
- Analysts view Prosus' results favorably, noting increased clarity and potential for further growth and value creation.
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3 Likes
Gritdaily
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277
Image Credit: Gritdaily
Alejandro Agudelo: Empowering Families to Build Wealth and Achieve Financial Peace of Mind
- Alejandro Agudelo is dedicated to helping families achieve lasting security and peace of mind by empowering them with financial knowledge.
- With over two decades of experience in sales and customer service, Alejandro transitioned from corporate life to financial services to provide stability and protection to others.
- Inspired by his hardworking parents, Alejandro developed a strong work ethic and commitment to empowering families to navigate financial uncertainty.
- Alejandro specializes in helping families safeguard their wealth by eliminating risks, fees, and taxes through personalized financial strategies.
- His focus on transparency, honesty, and exceptional service has earned him a reputation as a trusted guide in the financial services industry.
- Transitioning to entrepreneurship required Alejandro to embrace a new mindset and establish credibility through networking and exceptional customer experiences.
- Alejandro actively gives back to his community by volunteering, coaching youth sports teams, and participating in financial literacy programs.
- His vision is to continue empowering families with financial knowledge, expand his business, and strengthen his role as a trusted community resource.
- Alejandro believes that financial security is not just a goal but a journey guided by trust, understanding, and care.
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Gritdaily
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417
Image Credit: Gritdaily
Patrick Barnes: From Wrenches to Wealth, How a Former Mechanic Is Fixing America’s Financial Future
- Patrick Barnes, a former mechanic, transitioned from fixing cars to fixing people's financial futures through financial literacy.
- At 18, Patrick worked as a mechanic while studying computer programming, realizing he could make a bigger impact by helping people with their finances.
- He entered the financial services industry to bridge the gap in financial understanding among individuals that was costing them significantly.
- Initially facing challenges in communication and outreach, Patrick persevered through mentorship and online marketing to enhance his presence.
- His first successful sale marked a pivotal moment in his career, shifting his focus towards helping people secure their financial futures with confidence.
- Patrick prioritizes honesty, loyalty, hard work, and respect in his practice, aiming to positively impact lives through financial security.
- His measure of success lies in the number of people he assists rather than the monetary value, emphasizing lives changed over profit.
- Clients appreciate Patrick's ability to optimize their finances, leaving consultations feeling more secure about their financial decisions.
- Patrick's ultimate goal is to influence a million lives by providing personalized financial planning services one step at a time.
- His journey showcases that regardless of one's starting point, it's possible to change paths, help others, and create a lasting legacy of financial empowerment.
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The Robot Report
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VC reflects on robotics trade show season
- May and June were significant months for robotics in the U.S. with trade shows in Boston, Detroit, Houston, and Atlanta showcasing new technologies.
- Automate, organized by A3, highlighted the positive impact of robots on job creation and productivity.
- Interest in Cambrian Robotics surged with demonstrations of advanced AI-infused technologies at trade shows.
- Startups like Kinisi and Nexus Intelligence showcased innovative AI-driven robotics solutions at Automate.
- Xponential in Houston revealed advancements in defense technology with a focus on autonomous systems and drones.
- The relation between startups and the military has transformed, with significant investment in defense tech companies like Anduril.
- Anduril's success in securing a substantial funding round reflects the potential growth in the defense tech market.
- Palmer Luckey discussed Anduril's development of autonomous fighter jets for the U.S. Air Force.
- The robotics trade show season concluded in Boston with Robotics Tech Week, featuring discussions on industry growth and technological advancements.
- Oliver Mitchell's book launch at MassRobotics signified a reflection on the industry's progress and future prospects.
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Pymnts
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224
Image Credit: Pymnts
Tensec Raises $12 Million to Promote Real-Time X-Border Payments
- Cross-border payments FinTech Tensec raised $12 million in new funding to provide real-time payments and financial services for companies in the cross-border payments market.
- Tensec aims to offer real-time payments and transaction banking services to small- to medium-sized businesses, empowering global trading companies to deliver financial services directly to their partners.
- The platform uses artificial intelligence, real-time payments, and global FinTech infrastructure to enable trading companies to offer FX services, cross-border payments, treasury, and other financial services to SMB customers.
- SMB cross-border payments have been lagging behind despite making up a significant portion of annual physical goods trade.
- Tensec's innovative services skip legacy banking infrastructure to offer financial services innovations directly to companies engaged in global trade.
- PYMNTS reported on challenges facing SMBs related to cross-border payments, including concerns about digital wallets, security, integration, complexity, and regulatory uncertainty.
- Financial service providers have an opportunity to address the disconnect by offering streamlined onboarding, compliance clarity, and interoperability across global networks.
- The funding will help Tensec bridge the gap in SMB cross-border payments and drive global commerce accessibility.
- Tensec's goal is to make global commerce faster, cheaper, and more accessible by empowering trading companies with innovative financial services.
- The company's focus on real-time payments and transaction banking services aims to enhance the cross-border payments experience for SMBs.
- Legacy banking infrastructure has hindered SMBs in accessing the necessary financial tools for global trade, prompting Tensec to offer a modern solution.
- The PYMNTS Intelligence report highlighted the reluctance of SMBs to use digital wallets for cross-border payments due to industry standards, partner acceptance, security, integration, and regulatory concerns.
- Tensec's use of AI, real-time payments, and FinTech infrastructure is geared towards transforming the SMB cross-border payments landscape.
- The company plans to disrupt the traditional cross-border payment methods by providing innovative financial services directly to companies engaged in global trade.
- The $12 million funding will support Tensec in its mission to modernize and streamline the cross-border payment experience for SMBs.
- The initiative by Tensec reflects the growing demand for efficient and accessible cross-border payment solutions in the global trade market.
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Hackernoon
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123
Image Credit: Hackernoon
A Group of Students Are Revolutionizing the Way You Discover What to Watch, Read, and Listen
- A group of students from Brazil, known as RecomendeMe, is reshaping how recommendations are made for movies, music, and books.
- They focus on human-centered recommendations rather than relying on algorithms.
- Frustrated with algorithmic feeds from platforms like Netflix and Spotify, they built a platform based on trust and human connections.
- RecomendeMe began as a simple webpage where people shared recommendations and reasons for others to try them.
- It evolved into a movement connecting users worldwide through authentic recommendations.
- The platform stands out by emphasizing real people sharing genuine recommendations with personal insights.
- Users can explore recommendations based on genres, emotions, or locations, fostering cultural connections.
- RecomendeMe is seen as a cultural rebellion against conventional content algorithms and trends.
- The platform is expanding with upcoming features like video-style recommendations and a multilingual version.
- There are plans for creator mode, fast community chat, and an emphasis on authentic growth without shortcuts.
- RecomendeMe believes in the importance of human-curated recommendations and meaningful connections over automated suggestions.
- They aim to combat content fatigue and inspire users by promoting personal tastes and individuality.
- The platform resonates with those seeking genuine recommendations to combat feeling overwhelmed or uninspired by mainstream content.
- RecomendeMe's core mission is to redefine how people discover content by focusing on personal connections and authenticity.
- The platform offers an alternative to algorithm-driven recommendations by prioritizing the human touch in sharing what matters most.
- It aims to provide users with a genuine and engaging way to explore movies, music, books, and other cultural recommendations.
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TechCrunch
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430
Image Credit: TechCrunch
Databricks, Perplexity co-founder pledges $100M on new fund for AI researchers
- Andy Konwinski, co-founder of Databricks and Perpelexity, is backing a new AI research institute, Laude, with a $100 million pledge.
- Laude Institute will focus on making investments structured like grants, with a board including esteemed figures like Dave Patterson, Jeff Dean, and Joelle Pineau.
- The institute announced a $3 million grant annually for five years to establish the AI Systems Lab at UC Berkeley, led by Ion Stoica.
- The new lab is set to open in 2027 and aims to push AI research forward for beneficial outcomes, differentiating itself from some commercially-focused counterparts.
- Konwinski's institute is structured as a nonprofit with a public benefit corporation arm, investing in 'Slingshots' for early-stage research and 'Moonshots' for long-term challenges.
- Apart from research, Konwinski's company Laude operates a for-profit venture fund, having invested in startups like Arcade.
- Despite Konwinski's $100 million pledge, he is open to investments from other technologists, leveraging the success of Databricks and Perplexity.
- The initiative aims to support independent and human-helpful AI research in a landscape increasingly saturated with vendor-driven benchmarks for AI models.
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Hackernoon
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145
Image Credit: Hackernoon
What Pettech Taught Me About Marketing in B2B2C Industries (And What You Can Steal)
- Marketing in B2B2C industries like pettech blurs traditional B2B and B2C lines, focusing on offline trust and online sign-ups.
- Lessons from Waggel's marketing strategies include aligning with gatekeepers, prioritizing trust over transactions, and multi-stakeholder narratives.
- Understanding field insights before funnels, utilizing the JTBD framework, and treating partnerships like products are key elements in successful marketing.
- Validating partnerships before scaling, building business models early, and the importance of ecosystem thinking are highlighted for growth in trust-driven industries.
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Startup Story
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360
Image Credit: Startup Story
SkillingYou and FHLE Forge Strategic Partnership to Empower Rural India Through Skilling, Education, and Youth Leadership
- SkillingYou and FHLE have entered into a strategic partnership to empower rural India through skill development, career readiness, and grassroots innovation.
- The partnership aims to equip India's youth, especially in rural areas, with tools, mentorship, and opportunities for success in the 21st-century economy.
- Focus areas include entrepreneurship, employability training, youth mentoring, career counseling, and community development initiatives.
- The partnership will launch the Young Bharat Olympiad to discover talent and empower youth across rural India.
- SkillingYou's digital platforms will be integrated to enhance FHLE's on-ground programs, focusing on practical learning and employability.
- Both organizations bring unique strengths: SkillingYou with digital innovation and FHLE with grassroots engagement for health, education, and livelihood services.
- The partnership will explore joint fundraising opportunities and maintain intellectual property rights of respective tools, fostering long-term sustainability and accountability.
- A joint working group will oversee implementation, reviews, and strategic alignment, ensuring transparency and mutual consent in decision-making.
- The alliance emphasizes empowering rural youth and transforming communities through a combination of skilling, empathy, and innovation.
- FHLE and SkillingYou envision a future where rural youth play a leading role in India's development journey.
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TechCrunch
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131
Image Credit: TechCrunch
TechCrunch Disrupt 2025: The Builders Stage agenda is now live and taking shape
- TechCrunch Disrupt 2025's Builders Stage offers insights from industry leaders like Elad Gil, Dick Costolo, and Ryan Petersen on tactics for startup success.
- Sessions at the event cover topics like raising capital, achieving product-market fit, hiring early employees, leveraging AI, and rethinking traditional startup practices.
- Speakers share strategies, experiences, and advice for navigating the challenges of building and scaling successful startups.
- The Builders Stage agenda includes discussions on seed funding, Series A investments, later-stage fundraising, and attracting top talent.
- Insightful panels dive into key aspects of entrepreneurship, including product development, go-to-market strategies, fundraising, and industry trends.
- Attendees can learn from experts in the field and gain actionable insights to help their startups thrive in a competitive landscape.
- Discover how to build a successful GTM engine, craft compelling pitches for investors, and navigate the evolving tech ecosystem.
- Early-stage founders can benefit from understanding the latest investment trends, growth strategies, and methods for building sustainable businesses.
- With a lineup of renowned speakers and engaging discussions, TechCrunch Disrupt 2025 provides valuable resources for startup entrepreneurs looking to succeed.
- Save on tickets now to access a wealth of knowledge, networking opportunities, and practical advice at this premier event for the startup community.
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