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Eu-Startups
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Europe takes the lead: New ranking reveals surprising shift in the global venture capital landscape
- Luxembourg-based Earlybird Digital East Fund has claimed the top spot in the 2023 HEC Paris-Dow Jones Venture Capital Performance Ranking, marking the first time a European firm has secured the leading position.
- Non-U.S. firms now occupy nine of the top ten positions in the global venture capital ranking, signaling growing global competition in the sector.
- Europe's tech scene has been undergoing a shift, with the number of unique active investors doubling between 2019 and 2022, positioning Europe as a global challenger.
- The presence of firms from Australia, Austria, China, Denmark, and the United Kingdom in the top rankings shows the broadening scope of global venture capital.
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Alleywatch
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OpenGradient Raises $9M to Revolutionize AI Deployment Using Decentralization
- OpenGradient has raised a total of $9mn in seed funding from investors that include a16z CSX, Symbolic Capital, Coinbase Ventures, and SV Angel.
- OpenGradient has developed an end-to-end platform leveraging blockchain technology to decentralize AI infrastructure and provide computing resources and secure environment for hosting models on-chain.
- The company offers an innovative solution to enhance security using measures such as TLS, zero-knowledge machine learning (zkML), and hardware enclaves.
- The platform also aims to accelerate development and accessibility of open-source models while ensuring the model's verifiability through an EVM-compatible blockchain.
- The platform provides Web2 development environments that allow developers to create applications with added security and decentralization benefits.
- OpenGradient is a comprehensive library for AI models and is involved in research in emerging trends at the intersection of AI and cryptography.
- OpenGradient CEO Matthew Wang believes that secure computation should be able to secure end-to-end, and the company is working towards the same, with added security measures.
- The company offers a python SDK for Web2 AI developers and charge for compute on a per inference basis as its business model.
- OpenGradient currently has two to three years of runway to weather economic slowdown and believes that its innovative and recession-proof product will continue to secure end-to-end AI in the future.
- The next milestone for OpenGradient is to continue developing features on its platform and work with early launch partners and double down on client acquisition.
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Startupreporter
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Bollywood Icons Rally for Gender Inclusivity in Cinema
- Bollywood celebrities highlighted the need for promoting gender inclusivity in films at an event organized by Breakthrough Trust in Mumbai.
- They emphasized that films have the ability not only to entertain but also to reflect and influence how gender roles and relationships are understood in society.
- The speakers called for an urgent transformation within the industry, advocating for the creation of a more gender-sensitive environment that promotes equal opportunities, diverse representation, and inclusive narratives.
- The event marked the beginning of meaningful change in partnership with the most influential voices of Bollywood, ensuring that inclusive storytelling becomes the standard rather than the exception.
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Hackernoon
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Startups of The Year 2024: 3,256 Startups Nominated in Sultanpur, India
- HackerNoon announces nominees for the annual 'Startups of The Year' award in Sultanpur, India
- The list features 30 startups making significant contributions to the Sultanpur economy and driving innovation
- Nominations and voting for the award are open until March 31st, 2025
- Being nominated provides exposure and credibility for the startups
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Inc42
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Peak XV-Backed Toplyne Shuts Operations
- SaaS startup Toplyne is shutting operations due to its inability to scale and find product-market fit.
- The startup has decided to return the capital to its investors.
- Toplyne offers an AI-powered platform to help product-led companies convert their free users into paid ones.
- The startup raised $15 Mn funding from investors like Peak XV and Tiger Global in 2022.
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Insider
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A social-calendar app that helps friends sync their schedules and make plans raised $8 million. Read its pitch deck.
- Howbout, a social-calendar app, raised $8 million in a Series A round led by Goodwater Capital.
- The app allows users to sync their calendars and make plans with friends, with features like voting on plans, chat, and sharing photos and videos.
- Howbout is targeting young adults and currently has 5 million users, ranked No. 15 on Apple's App Store in the 'Social Networking' category.
- The startup is experimenting with potential revenue streams such as subscriptions and partnerships, and has already partnered with Tinder and Sony Music.
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Startupreporter
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IIM Indore, TimesPro Launch Chief Executive Officers’ Programme to Empower Next-Gen CEOs
- IIM Indore has launched the Chief Executive Officers Programme with TimesPro launching it with the aim of shaping the future of business leadership.
- The 1-year programme focuses on modern management, technology, marketing, crisis mitigation and strategic growth for senior managers and CXOs.
- Modern CEOs must excel in technology, consumer behaviour and team building skills while navigating the ever-evolving business environment.
- McKinsey Global Survey shows CEO's prioritising the creation of new revenue streams as their primary goal, revealing the need for diversification & innovation.
- A Harvard Business Review report indicates 68% of CEOs were unprepared for their role, revealing the need for upskilling.
- The programme includes 4 masterclass sessions, each focusing on developing skills like motivating like a CEO and building executive presence.
- The programme will be delivered in Direct-to-Device (D2D) mode with 126 hours of intensive training.
- IIM Indore is among the top 100 global business schools to receive three prestigious international accreditations from EQUIS, AACSB, and AMBA.
- TimesPro is a Higher EdTech platform dedicated to empowering the career growth of learners and providing upskilling and reskilling solutions.
- With 200 plus executive programmes, IIM Indore empowers professionals with globally relevant skills and expertise.
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Yourstory
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SaaS startup Toplyne shuts down operations
- SaaS startup Toplyne is shutting down its operations and returning funds to investors.
- Toplyne aimed to help businesses capitalize on their product-led growth strategies.
- The 30-member startup raised $15 million in a Series A round in 2022.
- Toplyne's founders are assisting the team in finding new opportunities while ensuring a seamless transition for customers.
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VIE Stories
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OYO Restructures Operations, Tech, Revenue Leadership
- OYO has made five appointments to strengthen its leadership team.
- Rachit Srivastava will take over as Chief Operating Officer for OYO Vacation Homes (OVH) in Europe.
- Shashank Jain has been appointed as Head of Technology and Online Revenue.
- Pankhuri Sakhuja will lead Innov8 and Traum-Ferienwohnungen in Germany.
- Ashish Bajpai has assumed the position of Global OTA and Revenue Head.
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Hackernoon
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Our AI Coding Tool Went Viral, Then Everything Broke. This is What We Learned.
- A VS Code extension to help developers search their codebases launched on March 2, 2023, had over 7,000 users within weeks, and attracted an unexpectedly high level of traffic. The backend architecture was not able to handle the surge in demand, and the team needed to rebuild the system's architecture, which relied on LLM, to deliver the same functionality without LLM. The team developed a custom matrix to bias embeddings for the specific use case, which improved matching code snippets to user queries and reduced costs and computational overhead. The team learned valuable lessons about pivoting, monitoring, cost structure, communication, and data quality.
- The team's journey from a simple VS Code extension led to the development of Genie, a fully autonomous AI software engineer that embodies the vision of the original product. The team built with what they could while waiting for AI technology to catch up to their vision, such as their initial code search and retrieval system, cloud-based indexing platform, and experiments with emerging AI models, leading to Genie's development.
- The team developed a proprietary technique to generate datasets that truly captured how human developers think, which caught the attention of OpenAI, who granted the team early access to fine-tune GPT-4 beyond public availability.
- In August 2024, the team achieved a major milestone when Genie scored 43.8% on the industry-standard SWE-Bench Verified, significantly outperforming previous records held by major tech companies.
- The sudden surge in traffic taught the team valuable lessons, including the importance of pivoting, monitoring, cost structure, communication, and data quality, which helped the team to rebuild the system's architecture.
- The custom matrix, which helps find the right code snippet faster and more accurately, reduced costs and computational overhead, and improved matching code snippets to user queries, allowed the team to maintain the core functionality of their product.
- A willingness to pivot allowed the team to survive, while their initial approach did not hold up under real-world conditions.
- Implementing better monitoring and alerting systems could have helped the team respond more quickly to the sudden surge in usage.
- The team did not fully grasp how their costs would scale with usage, leading to painful financial realisations in those early days.
- Managing expectations during the rebuilding phase was challenging for the team and underscored the importance of transparent communication, especially when dealing with technical users.
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The Robot Report
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Image Credit: The Robot Report
Startups from Korea participate in MassRobotics immersion program
- MassRobotics has welcomed 10 start-ups from South Korea, for a week-long International Immersion Program, in partnership with the KAIST Global Commercialisation Center. This offered an opportunity for Korean entrepreneurs to connect with Boston’s robotics ecosystem and gain insights and opportunities into the US market.
- The program was tailored to the needs of the start-ups affiliated with the Korea Advanced Institute of Science & Technology (KAIST)to prepare them for a successful US launch with a curriculum on understanding US corporate laws, intellectual property, regulatory requirements, sourcing POCs with US-based companies and developing a tailored strategy for entering the US market.
- The participating start-ups represented a wide range of cutting-edge technologies, including autonomous drones, AI-driven robotics, and logistics solutions.
- The week-long program included not only educational sessions but also networking opportunities with Boston’s robotics professionals like Boston Dynamics and Vecna Robotics, venture capitalists and business leaders to qualify Start-ups for cross-border investments.
- By the end of the week, the participating start-ups returned to Korea with a clearer vision on their U.S. expansion plans and a network of contacts to help them achieve their goals.
- MassRobotics said programs like this will play a vital role in bridging the Boston and global robotics ecosystems, shaping the future of robotics technology worldwide.
- Additionally, MassRobotics recently hosted RoboBoston 2024, which featured more than 400 students on STEM Day and over 6,500 attendees for its annual Robot Block Party in Boston’s Seaport District.
- Next week, at RoboBusiness in Santa Clara, Calif., MassRobotics will be hosting a two-part Robotics Startup Bootcamp. Joyce Sidopoulos, COO at MassRobotics will also be speaking at the ticketed Women in Robotics Luncheon.
- The start-ups built strategic networks for future growth through the program, with global connections vital for start-ups seeking to establish a U.S. presence, build partnerships, and scale operations.
- EasternGear, ArgosVision, DOGU, Floatic, Hurotics, L-Line, Morphing I, Narma, and Speedfloor, all startups under the KAIST banner, participated in the program.
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Yourstory
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Image Credit: Yourstory
Games24x7 launches accelerator programme TechXpedite to promote early-stage startups
- Games24x7 has launched an accelerator programme called TechXpedite.
- TechXpedite aims to promote early-stage startups in the domains of AI, gaming, and assistive technology.
- The five-month accelerator will select 10-15 startups for mentorship and investment opportunities.
- TechXpedite will provide credits, mentorship, masterclasses, and networking opportunities to the selected startups.
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AllTopStartups
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The Crucial Role of Business Software
- Understanding the intricacies of business software is crucial for entrepreneurs looking to streamline operations.
- Business software is essential in helping startups manage their operations more effectively.
- Investing in the right software can mean the difference between struggling to keep up and thriving in a competitive market.
- Choosing the right business software requires considering factors such as scalability, ease of use, and cost-effectiveness.
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Yourstory
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3.4k
Image Credit: Yourstory
10 Minutes Food delivery: Zomato and Swiggy's Big Bet
- Swiggy has launched Bolt, a 10-minute food delivery service, offering quick service items from popular brands within a 2-kilometer radius.
- Zomato's previous attempt in 10-minute delivery was discontinued due to challenges in balancing speed, quality, and cost-effectiveness.
- Swiggy's Bolt differentiates itself by partnering with fast-turnaround restaurants and ensuring worker safety by not revealing orders as Bolt or regular.
- Both Swiggy and Zomato aim to meet the growing demand for hyper-fast food delivery, but concerns about sustainability and worker safety remain.
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UX Design
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Onboarding a complex product: a case study of Grammarly
- Onboarding a complex product like Grammarly can be challenging due to the multitude of features.
- To effectively communicate the features during onboarding, it is important to prioritize and cut out unnecessary elements.
- Grammarly, as a masterclass in onboarding, excels in using conversational copy, progressive disclosure, and imagery.
- Users are encouraged to take early actions and leverage their initial motivation to maximize their engagement.
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