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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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Saastr
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State of the Cloud 2024: The Cloud AI Era with Bessemer Venture Partners
- Bessemer Venture Partners has released its annual report on the State of the Cloud focused on AI.
- Jasper was one of the first businesses to experience rocketship growth and achieve double-digit ARR by building on top of an LLM.
- Multimodal models are core to Abridge, which transcribes doctors' conversations with patients and generates clinical notes.
- Change management is a critical consideration for AI adoption, with the need to onboard early adopters.
- Defensibility is a challenge in AI with language models readily available to everyone, emphasizing the need for building moats.
- LLMs are largely text-driven, but multimodal capabilities are important for businesses such as Jasper, enabling personalized images.
- In the last paradigm shift, the end-user experience for SaaS was largely invisible, but change management is an essential part of adopting AI.
- There is no one-size-fits-all AI model, with companies using a combination of existing and proprietary models for accuracy in sensitive fields.
- AI solutions require high-ROI and user-centricity to solve the problems that couldn't be solved before.
- Building a services strategy alongside building an AI application company can help to manage outcomes that are more probabilistic than deterministic.
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Saastr
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Dear SaaStr: If a Startup at $1.5M ARR is Hiring a COO, How Much Equity Should They Get?
- At $1.5M ARR, it is too early for an experienced COO in most cases.
- The founder should still be the COO and manage key departments.
- At $8M or $10M ARR, a COO may be necessary.
- Focus on hiring great function VPs at the early stage.
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SiliconCanals
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Eindhoven’s PhotonVentures secures investment for its PhotonVentures Fund I from Invest-NL, others
- Eindhoven-based PhotonVentures has secured €5M investment from Invest-NL and a group of new private investors.
- The investment from Invest-NL adds to the existing group of prominent tech investors, family offices, and other organizations who have previously invested in the fund.
- The funding brings PhotonVentures closer to its targeted fund size of €100M, with the final close planned for the end of this year.
- PhotonVentures is a deep tech venture capital firm specializing in investing in photonics startups in the Netherlands and Europe.
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SiliconCanals
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Meet PSV Hafnium, Denmark’s first dedicated deep tech early-stage venture fund; secures backing from EIF and EIFO
- PSV Hafnium, a deep tech early-stage venture fund, has launched in Denmark.
- The fund has secured €24.8M from the European Investment Fund (EIF) and €13.4M from the Export and Investment Fund of Denmark (EIFO).
- PSV Hafnium aims to invest in science-based clean tech, health tech, and next-generation industrial solutions and expects to back 30 companies.
- The fund will focus on pre-seed and seed stage investments in science-based tech companies and prioritize investments in climate action and environmental sustainability.
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Medium
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HugeOne: Decentralized Venture Capital and Community-Driven Investments
- HugeOne is a decentralized venture capital platform designed to democratize startup funding.
- It empowers a global community to directly participate in investment decisions.
- Token holders can support and fund startups through a community-driven investment process.
- HugeOne combines decentralized governance with efficient decision-making for transparent and inclusive funding.
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StartupDaily
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Mother-daughter cofounders launch Musa to end traditional pitch decks for funding
- Mother-daughter duo, Tandadzo (Tando) Matanda and Dr Margaret Matanda, have launched Musa, the world's first intelligent venture assessment platform for startups.
- Musa equips founders with digital tools and insights, providing a venture health score using AI and connecting them with potential funders.
- The platform aims to bridge the funding gap for under-financed SMEs globally and move beyond traditional pitch decks.
- Musa has been accepted into JP Morgan's US accelerator program and plans to empower founders through workshops and actionable steps.
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SiliconCanals
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Czech-based Tensor Ventures opens new €50M fund focusing on these key sectors
- Czech-based Tensor Ventures has launched a €50M fund to invest in deeptech startups.
- The fund will focus on sectors such as AI, quantum computing, biotech, and sustainable technology.
- Tensor Ventures aims to solidify its position as a leading investor in the deep tech space, both in the Czech Republic and globally.
- The European Investment Fund (EIF) has committed €20M to the second fund.
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Medium
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GMO Payment Gateway invests USD 3m in Helicap’s flagship credit fund
- GMO Payment Gateway has invested USD 3 million in Helicap's flagship credit fund.
- This investment highlights the strong demand for innovative financial solutions in Southeast Asia.
- Southeast Asia's FinTech sector has secured USD 899.3 million in funding in the first half of 2024.
- This partnership aims to drive financial inclusion in underserved markets and tap into new business opportunities.
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Medium
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The AI Arms Race: Who’s Going to Win (and Who’s Going to Lose)?
- The AI industry is caught up in a gold rush fever, where everyone's chasing the next big thing without stopping to consider the potential pitfalls.
- Most AI startups are being overvalued by investors and achieving astronomical valuations despite the lack of actual products they’re bringing to market.
- The hype surrounding the AI industry is creating a bubble that is reminiscent of the dot-com bubble.
- The rapid pace of innovation in the AI field is creating a lot of uncertainty, which can lead to speculative behavior and inflated valuations.
- To avoid getting caught up in the hype, it's important to approach AI investments with caution and to do your own due diligence.
- The current state of AI investment highlights the disconnect between massive funding and tangible products.
- The AI industry is going to continue to evolve rapidly, and the landscape will likely change dramatically in the coming years.
- It's important to view AI as a tool that can enhance human capabilities, rather than a threat to our existence.
- AI has the potential to revolutionize the world as a tool, but it’s up to humans to decide how to use AI and ensure that it benefits society as a whole.
- The AI industry is currently in a state of flux, fueled by hype, speculation, and a fear of missing out, posing both opportunities and risks for investors.
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Pymnts
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AI Firms Raise Total of $12 Billion in Third Quarter
- AI firms raised a total of $11.8 billion in the third quarter, accounting for approximately 30% of VC investments globally.
- Overall, AI startups have raised a record $53 billion year-to-date, surpassing the total for all of 2021.
- Investment giant VanEck has launched a $30 million fund targeting AI and blockchain innovations in FinTech and digital assets.
- San Francisco-based legal tech startup EvenUp has raised $135 million in Series D funding, valuing the company at over $1 billion.
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Medium
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Celebrating Hispanic Heritage Month
- Chingona Ventures has backed 30 Latino founders in the past 5 years, with 32% of their portfolio companies led by a Latino CEO.
- They have invested over $7MM in these companies, working to address the lack of venture capital funding for Latino-founded startups.
- In 2024, Chingona Ventures invested in three pre-seed companies led by Latino CEOs in the FinTech, Future of Work, and Health Tech sectors.
- Jorge Garcia, Arian Razzaghi, and Elias Torres are highlighted as exceptional entrepreneurs joining the Chingona Ventures portfolio.
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Saastr
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The Quiet Liquidity Crisis in SaaS
- There is currently a liquidity crisis for startups and scale-ups in the SaaS and Cloud industry.
- SaaS IPOs have significantly decreased since December 2021, with only three recorded so far.
- M&A activity among the top 10 software acquirers has declined by over 90% compared to 2021.
- While private equity firms are still acquiring SaaS companies, public multiples remain low, making acquisitions less attractive.
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Pymnts
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VC Firms Remain Hesitant About Dealmaking Despite Market Rally
- American venture investors remain cautious despite the stock market rally.
- Deal activity in the venture capital (VC) space decreased by almost 32% in Q3 2019 compared to the previous quarter.
- Investors are seeking tougher terms from startups due to a lack of liquidity, leading to a slowdown in funding.
- The Federal Reserve cutting interest rates and a reinvigorated IPO market could potentially boost VC dealmaking.
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Medium
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Why Investors Expect Financial Projections (Even Though They Know They’re Made Up)
- Financial projections are forecasts regarding a company’s future financial performance, based on assumptions and predictions.
- Investors expect financial projections to understand a company's potential growth and profitability.
- Projections help investors assess risk and make informed decisions based on different scenarios.
- Financial projections influence investor sentiment and can validate a company's credibility.
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