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Medium
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Last Week in ConTech — 11 November 2024
- AEC Tech Jobs is a job board for the construction technology industry
- Ideal Customer Persona for the job board is two-fold: The construction industry personnel, such as people in sales and customer support roles who can speak the language of construction and empathize with the end user and experienced talent choosing ConTech over sectors such as FinTech or Healthtech.
- Ampd, a Singaporean startup, has developed battery energy storage systems which replace diesel generators in construction sites
- Corudulus, a Danish startup, provides hyperlocal weather forecasts powered by AI which helps construction companies track on-site weather conditions, predict upcoming rain days and document local weather to provide to insurance companies or developers
- Workorb, a Canadian startup, is building AI-powered solutions for the Architecture, Engineering and Construction industries which streamline and automate the business development process
- Cloverleaf AI, a Colorado startup, has developed a solution which alerts government contractors the moment the project is under discussion such as a new stadium or road allowing them to build relationships with decision makers early
- Derq, a Detroit startup, has developed an AI-powered real-time intelligent transportation system which includes solutions such as adaptive traffic management, smart pedestrian crosswalks and real-time identification of safety near misses and collisions for root cause identification and countermeasure development
- FBR, an Australian company, has developed the world’s first fully automated end-to-end robotic bricklayer
- Vamo, a German startup, provides heat pump installation and maintenance services managing the process from lead to delivery and installation via their own trained installers
- Glint Solar, a Norwegian startup, provides a platform for solar developers using country-specific GIS data and topographic analysis. It enables them to evaluate a site quickly for feasibility undertaking pre-design and analysis with engineering approved settings
- The current newsletter includes information about CBAM rollout in 2027 by the UK Government, rejection of tax on natural gas use in buildings by Berkeley Voters, and the Swedish Court’s permit to build Nuclear Waste Burial Site, among other news
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Medium
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Advancements in Large Language Models (LLMs): Transforming AI Capabilities in 2024
- LLMs like OpenAI's Strawberry model demonstrate improved reasoning abilities and accuracy in solving complex tasks.
- Multimodal capabilities of LLMs, like Google's Gemini model, allow them to process and generate content across various modalities.
- Specialized models tailored for business applications, such as Cohere's Command R+, are gaining momentum.
- Open-source initiatives and collaboration in LLM development promote innovation and research.
- LLMs are being integrated into autonomous systems, like Waymo's exploration with Google's Gemini model, to enhance decision-making.
- The rapid advancement of LLMs raises ethical and security concerns that require careful evaluation.
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Medium
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The AI Revolution: Key Advancements Shaping 2024
- Generative AI has made significant advancements, enabling processing and generation of text, images, and videos.
- AI integration in consumer technology is increasing, enhancing user experiences in everyday devices.
- AI is transforming healthcare and drug discovery, improving diagnostics and reducing time and cost for new drugs.
- The transportation industry is being revolutionized by AI, improving efficiency and safety in autonomous vehicles and logistics.
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Medium
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The Fastest Way to Predict a Startup Wipeout Is to See Who’s Raising All the Money
- Startups that raise significant amounts of capital fall into the trap of scaling too quickly, which can be a death sentence.
- Founders can lose sight of their core mission when they're flush with cash leading to futile spending.
- Overfunding can give rise to superficial growth without actually solving real problems for customers, making the growth hollow and unsustainable.
- Need to justify valuations and meet aggressive growth targets often forces startups into high-risk gambles leading to catastrophes.
- Research shows that startups that raise large rounds early on are more likely to fail than those that gradually approach fundraising.
- Startups that are forced to be lean and scrappy often develop a stronger understanding of their market, a more focused approach to solving problems.
- Mailchimp successfully avoided the pitfalls of overfunding and built a billion-dollar business with sustainable growth.
- Startups that succeed are the ones with the most discipline, focus, and customer insight, not with the most money.
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Pymnts
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Ualá Eyes Banking Expansion After $2.75 Billion Valuation
- Argentinian FinTech Ualá raises $300 million, valuing the company at $2.75 billion.
- CEO Pierpaolo Barbieri aims to become the largest bank in Argentina.
- Ualá plans to expand business units in Mexico and Colombia.
- The company intends to achieve profitability before considering an IPO in the US.
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Medium
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Taking prompt optimization from an art into a science
- MIPRO is a promising development in prompt optimization for multi-layer LLM systems.
- It treats prompt engineering as an optimization problem, allowing developers to refine prompts that maximize performance.
- MIPRO is integrated with DSPy, a programming framework for composing LLM-powered applications.
- This advancement is transforming AI development by automating prompt optimization and moving away from manual crafting.
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Alleywatch
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Duetti Adds Another $34M to Accelerate Data-Driven Music Financing for Independent Artists
- Duetti has raised $114m in funding, including $34m in equity financing led by Flexpoint Ford with participation from existing investors Nyca Partners and Viola Ventures. The firm is a music-financing platform that empowers independent artists to monetise their catalogues. The company uses its proprietary forecasting, pricing, sourcing, and marketing technology to optimise revenue streams for artists. It has already collaborated with over 500 independent artists. Its latest funding round brought the total equity funding raised to $88m.
- Duetti allows independent artists to monetise their music catalogues on their own terms by using proprietary tools for pricing, sourcing, forecasting and marketing. This allows independent artists to access capital quickly, possibly expanding their reach. Duetti offers flexible deals and extensive promotional support without the complexities of traditional music financing, tying artists into complex contracts.
- The company targets independent musicians with its platform, which offers data-driven pricing and marketing services for artists to monetise their work transparently and effectively, the independent music sector has a substantial percentage of global music revenue.
- Validation of Duetti's approach to music financing and catalog monetisation proved to be a significant factor in drawing in investors. The firm’s long-term growth potential for the independent music sector and support of independent artists looks attractive. With a proven ability to increase visibility and distribution impact for artists and a pipeline of fast-turnaround financing solutions.
- In the next six months, Duetti plans to expand catalog acquisitions, growing its audience-impact programs like its playlist network and sync placements, which have a long-term potential for growth in this sector.
- The CEO, Lior Tibon, and co-founder Christopher Nolte, recognised a gap in accessible financing within the independent music sector. They relate this issue to their background at TIDAL and Apple Music and desire to democratise the music industry by providing the same financial opportunities that are often reserved for those in the major label system.
- Duetti says it's committed to supporting independent artists and ensuring they have access to the resources they need to thrive, regardless of the broader economic climate. Historically, one of the most attractive attributes of the music industry from an investment perspective is that it is relatively uncorrelated to the broader economy.
- Duetti added $114m to accelerate data-driven music financing to independent artists. Through Duetti’s proprietary technology, independent artists can access capital quickly, freeing them from the constraints of traditional record label deals. The firm’s extensive promotional support allows artists to benefit from an end-to-end solution that grows their audience and revenue streams
- Investors recognised that Duetti stands out for its unique approach to music financing and catalog monetisation. With a proven ability to increase visibility and distribution impact for artists and a pipeline of flexible, fast-turnaround financing solutions. Their investors see Duetti as uniquely positioned to address the evolving needs of musicians today.
- Duetti’s near-term goals are to expand catalogue acquisitions and increase awareness in key music markets. The company’s efforts may further empower the current and next generation of independent artists.
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Geek Wire
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Tech Moves: iSpot’s new CTO; VMWare exec returns to Microsoft; Expedia CFO to resign
- Nipun Dureja becomes CTO of iSpot, a company that measures the impact of advertising campaigns.
- Expedia CFO, Julie Whalen, resigns from her role, to continue until successor is appointed.
- Isabell Sheang rejoins Microsoft as group product marketing and go-to-product manager.
- Adil Wali leaves Meta to become chief product officer for Klaviyo, a digital messaging services provider.
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Medium
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Backing Northflank: Empowering developers and SRE teams with a modern PaaS built for flexibility
- Vertex Ventures US announces Series A investment in Northflank, a modern PaaS empowering developers and SRE teams.
- Northflank bridges the gap between rapid development and operational autonomy, offering comprehensive control over cloud infrastructure and networks.
- Northflank's founders, Will Stewart and Frederik Brix, combine technical expertise with effective communication and have secured enterprise contracts.
- The platform balances developer agility with infrastructure configuration for SRE teams, supporting various cloud environments and delivering flexibility.
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Medium
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Joyce Shen’s picks: musings and readings in AI/ML, November 11, 2024
- MIT introduces a causal theory for studying gene cause-and-effect relationships.
- OpenAI is reportedly developing new strategies to overcome AI improvement slowdown.
- OpenAI wins against news outlets' copyright lawsuit over AI training.
- A tech ethicist suggests that AI's dominance is not inevitable.
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Inc42
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Info Edge To Invest INR 4 Cr In Legal Tech Startup LegitQuest
- Info Edge plans to invest INR 4 Cr ($474K) in legal tech startup LegitQuest.
- The investment will be made in two tranches via convertible notes.
- LegitQuest offers a generative legal AI assistant and has a user base of over 3 Lakh individuals and more than 1,000 B2B clients.
- Info Edge's profits declined in Q2 FY25, but its operating revenue rose by 3.5% YoY.
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SiliconCanals
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Belgian VC Entourage backs San Francisco-based SaaS firm OneCrew; eyes Europan expansion in 2025
- San Francisco-based OneCrew secures $3.25M in seed funding round led by Belgian VC Entourage and Bienville Capital.
- OneCrew plans to use the funds to accelerate product development, expand its user base, and add new features supporting contractor relationships.
- The company aims to expand into Europe in 2025, with support from Entourage's experience in European markets.
- OneCrew simplifies complex workflows for paving businesses, providing an end-to-end solution for managing operations and improving efficiency.
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Economic Times
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Pfizer to fund six startups through its INDovation program for healthcare
- Pfizer announced winners of its INDovation program in collaboration with NIPER-Ahmadabad.
- Six startups will receive a grant of Rs 25 lakhs each from Pfizer.
- NIPER-Ahmadabad will provide incubation support to accelerate their lab-to-market journey.
- The winners are Aarca Research, Babycue Pvt Ltd, Biolockey Healthworks Pvt Ltd, Brela Innovations Pvt Ltd, RNT Health Insights Pvt Ltd, and Utopic Tech Pvt Ltd.
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Gritdaily
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Is Your Network Struggling to Keep Up with Hybrid Work? SASE Can Help
- Hybrid work requires technology that is catered to distributed access patterns to deliver seamless and secure employee experiences. Legacy architectures built for centralized offices can add too much risk and restrict the benefits of hybrid models. There are solutions purpose-built for hybrid work environments that can overcome these challenges, such as SASE.
- SASE is a cloud-native architecture defined by Gartner in 2019 that converges networking and security. It supports hybrid work environments much better than legacy models by bringing connectivity and security to the edges.
- SASE when leveraged properly can bring consistency in performance, simplified administration, and risk reduction. SASE can help overcome the pitfalls of hybrid work that handicap legacy networks, such as consistent performance, simplified administration, and risk reduction.
- SASE bundles WAN capabilities, Zero Trust Network Access, firewalls, and more. Local PoP's apply role-based policies for fast, secure local internet breakouts and privacy. Users, devices, and applications are verified everywhere with continuous authorization. SASE delivers as a service from the cloud.
- When evaluating a SASE provider, assessment should be based on how well they address your most pressing needs, such as poor SaaS access or inconsistent cloud app controls.
- SASE presents a cloud-native opportunity to unify secure access, converging WAN and security at the edge. If remote and mobile workers are struggling with poor application performance, network complexity makes policies challenging to manage, or visibility gaps create security risks in hybrid work environments, then SASE is a suitable solution.
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Medium
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AGI by 2025? Altman’s Bold Prediction on AI’s Future
- Altman predicts AGI by 2025, signaling a significant advancement in OpenAI's technology.
- Non-human artists challenge traditional notions of creativity and authorship, highlighting the impact of AI and robotics.
- OpenAI, Meta, and Anthropic collaborating with government and defense contractors creates new opportunities and security concerns.
- LucidSim, an AI system, trains robots without real-world data, accelerating their development and deployment.
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