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Alleywatch
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Crisp Adds $17M to Bring Data Connectivity and Insights to All Facets of the CPG Supply Chain
- Data insights and connectivity platform Crisp has raised $72m in a series B funding round, including $17m from new strategic investors, and bringing its total funding raised to about $97m since inception.
- The platform, which helps companies optimise their supply chains and reduce waste, connects manufacturers, distributors and retailers to real-time point-of-sale data and supply chain data.
- With over 6,000 customers since its last funding round in February, Crisp is working to make near-zero waste supply chains a reality, and counts 80 of the top 100 CPG brands among its clients.
- Crisp's service enables faster decision making and unlocks greater visibility and collaboration across the supply chain to optimise logistics, reduce wastage, bolster sustainability, drive sales growth and enhance marketing strategies.
- Investors in the funding round included Wellington Management, Toshiba, DNX, Socium Ventures, and Prologis, as well as early investor FirstMark.
- The company will use the funding to expand its reach into both CPG and retail channels, as well as to support new data partnerships.
- Over the next six months, Crisp plans to expand its presence in the NorthWest Arkansas and Minneapolis markets by connecting CPG brands with data to enhance retail relationships.
- CEO and Founder Are Traasdahl founded Crisp, the only agnostic platform that ingests, normalises, analyses and distributes data, after witnessing first-hand the disparities of the food supply chain while travelling.
- Traasdahl concluded that slow moving, inaccurate, or unusable data cause much of the waste in the industry, which operates reactively rather than proactively
- Crisp plans to grow the business through strategic hires and innovation; its focus is on AI and developing a semantic layer for retail.
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Medium
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Time Well Spent: The Founder’s Guide to Scaling Responsibly
- Time is the founder’s most valuable asset.
- Many founders lose sight of what actually drives growth.
- No one else will ever have the same passion or instinct for your business.
- Delegating critical roles too early can be detrimental.
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Medium
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Scaling a student-run VC fund — 7 lessons learned for (aspiring) student VCs
- Aspiring student VCs should challenge the industry around decision-making, fund strategy, founder-investor power balance, and carry distribution.
- Do not hesitate to challenge your peers and bring new ideas to the VC industry.
- Be intrinsically motivated and know why you are part of a student-run VC fund.
- Effort, focus, and dedication are necessary to succeed as a student VC.
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Medium
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Feeding the Future: Observations and Opinions from NYC Climate Week
- Observations from NYC Climate Week on sustainability in food focused on regenerative agriculture, food security and accessibility, progress, and animal welfare.
- There was a lot of discussion around the importance of finding an agreed definition of regenerative agriculture and how important it will be in creating robust regen ag supply chains.
- Investment opportunities around Regen ag will continue to be robust, and Nespresso is an example of a company trying to build a robust tech platform to track education and output from farmers.
- Discussions were made comparing sustainable food in emerging markets to telecommunications. Skipping destructive monoculture culture and industrial agriculture will be an uphill battle in emerging markets.
- There was a sense of urgency on fixing the food system, and companies making small changes found cause for celebration. However, audiences should aspire to be better for the climate than a burger and milkshake chain switching dairy suppliers.
- Amid discussions about automation in farming, farmers were reportedly open to adopting innovation that allows them to make more food in a planet-friendly way.
- The “middle” of private label aka highly affordable foods and the premium offerings with claims around sustainability and health is losing market share.
- Industrial animal agriculture was not called out as the number one driver of climate change in the food system, and discussions mostly centered around farming practices, crop diversity, bio-based pesticides and fertilizers.
- Serious discussions surrounding animal welfare were largely missing.
- A mix of moonshots and chip shots are needed that provide direction for the positive stewardship of the planet, people, and animals in the next 5 to 15 years.
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Medium
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9 Financial Modeling Tips I Wish I Had When I First Started
- Building financial models always comes back to the 3 financial statements - Income Statement, Balance Sheet, and Cash Flow Statement. Understanding the impact of business changes on these statements is crucial.
- The Matching Principle states that Revenue Earned must match Expenses Incurred. Understanding this principle helps in accurately reflecting the impact of expenses over time.
- EBITDA is not part of GAAP, but it is used as a proxy for profitability in valuing the business. It includes discretionary adjustments that can significantly influence valuation.
- To avoid errors and enhance clarity, it is important to explain the model and consolidate error checks in a dedicated tab. This helps in quickly identifying and fixing errors.
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Insider
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LiquidStack helps data centers cut energy and water use. Check out the 13-slide deck it used to raise $20 million from Tiger Global.
- LiquidStack, a Texas-based startup, has secured a $20 million Series B extension from Tiger Global.
- The startup has developed cooling technologies for data centers, including a coolant distribution unit and a two-phase immersion cooling unit.
- LiquidStack's products aim to reduce energy usage by 41% and water usage by up to 100% in data centers.
- The funding will be used to invest in cooling solutions and expand the product roadmap.
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Saastr
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Dear SaaStr: What Are Some No-No’s When It Comes to Working with VCs?
- Never assume your existing investors will write you another check. They may, but it’s hard to predict if they will.
- Make sure the money lasts at least 18 months. Your investors are assuming that’s how long the runway is, maybe even 24 months.
- Don’t ghost your investors. Update them every month like clockwork, even when things are tough.
- Don’t hide stuff. Trust will be broken forever if you do.
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Insider
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VCs are rushing to meet with former OpenAI CTO Mira Murati in hopes of funding a new company
- Former OpenAI CTO Mira Murati is being sought after by venture capitalists as they anticipate her starting a new company.
- Murati announced her departure from OpenAI last week, expressing her desire to explore her own ventures.
- VCs are attempting to connect with Murati through cold emails and other means, although she has not responded to requests for comment.
- Murati oversaw the development of OpenAI's flagship products, ChatGPT and Dall-E, and her departure follows that of other co-founders and technical executives.
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Medium
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The Alchemy of Methane Pyrolysis — Turqouise Hydrogen — Start-Ups to Watch.
- Methane pyrolysis is emerging as a way to create clean hydrogen from natural gas while producing recyclable solid carbon.
- Hydrogen is a clean energy source by nature, however, the mainstream method of creating hydrogen is carbon-intensive and involves splitting water or methane using fossil fuels.
- Methane pyrolysis, or turquoise hydrogen, uses a fraction of the energy required for electrolysis and can be implemented into existing natural gas infrastructure.
- Startups are developing methane pyrolysis technology, and the market is betting big on clean hydrogen; $1.23 billion went to startups developing technology to produce and distribute low-emission hydrogen.
- The carbon byproduct gained from methane pyrolysis, called Carbon Black, can be used to create tires, plastics, inks, and other rubber goods.
- Methane can be gathered from renewable sources like livestock manure, and RNG can be blended with conventional natural gas at varying, cost-controlled ratios for a better carbon footprint.
- Increasing funding is going towards methane pyrolysis as low natural gas costs mean financial incentives work in favour of technologies that work with methane, not against it.
- Startups worth keeping an eye on who use methane pyrolysis include Math2H, Modern Hydrogen, New West Gypsum, Pyrowave, Solid Carbon Products, and Solum.
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Medium
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Unlocking Growth: Why Family Offices Should Embrace Venture Capital Investments
- Family offices have become a cornerstone of today’s rapidly evolving economic landscape, managing an estimated $5.9 trillion in assets globally.
- A Deloitte survey reveals that family offices are increasing their investments in private equity, with a focus on venture capital.
- Family offices contributed $161.7 billion to startup investments in 2022, accounting for one-third of the total.
- Venture capital offers family offices an opportunity to diversify, achieve long-term growth, and be part of the innovation that drives industries.
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TechCrunch
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The VC buying up prized real estate in SF says not to “listen to agitators”
- VC Neil Mehta, co-founder of Greenoaks Capital, is defending his recent building purchases in San Francisco's Fillmore Street commercial district.
- Mehta claims that the acquisitions are aimed at revitalizing the city and are not driven by financial gains.
- He states that the purchases are made through a real estate fund backed by a nonprofit, to which he has donated $100 million.
- Mehta assures that he has no financial interest in the properties and any proceeds will be reinvested in the community.
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Medium
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Re-Imagining Core Systems in Legacy Industries
- Doctors and nurses have spent a significant portion of their time on record-keeping for years, a costly and inefficient allocation of resources. Instead of introducing AI-powered tools to assist with tasks like clinical note-taking or billing, AI-native systems offer a compelling alternative that can fundamentally transform how businesses in these industries operate. AI-native systems are more flexible, scalable, and inherently capable of adapting to the growing complexity of today’s operations. AI-native EHR systems offer an opportunity to fundamentally rethink how medical data is managed, shared, and utilized.
- Large language models (LLMs) can rapidly analyze customer data, policy history, and risk factors to generate underwriting decisions in real-time, reducing both time and error rates. AI-native platforms in insurance can automate core functions that previously required significant human intervention. AI-native core banking systems have the potential to disrupt this status quo by automating and optimizing key processes, such as compliance, anti-money laundering (AML) checks, and credit risk assessments.
- AI-native systems can drive down administrative costs by automating processes that currently require human labor, such as data entry, quality checks, and basic customer interactions. For organizations seeking to maintain a competitive edge, the decision to replace legacy systems with AI-native ones is becoming a question of when, not if. The cost savings, efficiency gains, and real-time decision-making capabilities offered by these new platforms are too significant to ignore.
- Switching from a legacy system to a new, AI-native platform is no small task, which explains why many companies are reluctant to make the leap. The implications are profound: reducing administrative burdens not only frees up medical staff but also slashes the associated labor costs. This begs the question — do enterprise buyers want AI-powered point solutions for specific workflows (e.g prior authorization management), or is now the time to reimagine core systems altogether?
- The rise of AI-native systems offers a compelling alternative that can fundamentally transform how businesses in these industries operate. These systems, while essential, have become increasingly outdated and burdened by inefficiencies. Incremental improvements, such as layering AI-driven modules on top of legacy platforms, offer some relief but are insufficient to meet the growing demands for automation, scalability, and streamlined workflows.
- Unlike incumbent platforms, which were developed in an era of manual processes and have been retrofitted to handle modern demands, AI-native systems are more flexible, scalable, and inherently capable of adapting to the growing complexity of today’s operations. This shift is not just about efficiency — it’s about fundamentally rethinking the role core systems play in organizational strategy.
- Beyond automation, AI-native EHRs can offer real-time predictive insights. Fraud detection is another area where AI-native systems excel. The advantages extend beyond automation. AI-native systems are more adaptable, allowing banks to introduce new products and services more quickly than their competitors still reliant on legacy infrastructure.
- Incumbent providers of core systems like EHRs and core banking infrastructures are finding it increasingly difficult to compete with AI-native alternatives. The cost savings, efficiency gains, and real-time decision-making capabilities offered by these new platforms are too significant to ignore. For businesses, the decision to switch from legacy systems to AI-native ones is no longer a question of if, but when.
- These systems can also provide predictive insights, offering not just reactive data analysis but proactive solutions that prevent bottlenecks before they occur. AI-native systems aren’t just a technological upgrade; they represent a fundamental shift in how core software platforms operate across industries.
- By fully integrating AI into the fabric of core systems, businesses can move beyond the limitations of incremental improvements and embrace a future where efficiency, scalability, and automation are the new standards of success. Organizations that make the switch early will not only gain operational advantages but also position themselves as leaders in a rapidly evolving market.
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Medium
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Manny Smith: Transforming Education Access Through Innovation and AI with EdVisorly
- Manny Smith is the founder and CEO of EdVisorly, a platform that streamlines the transfer process for community college students aiming to move to four-year universities.
- EdVisorly uses AI technology to automate credit evaluations and course audits, providing students with a clear path to follow and avoiding unnecessary delays or dropouts.
- The platform has gained recognition and support from Google's Black Founders Fund, allowing EdVisorly to scale faster and improve outcomes for thousands of students.
- Manny Smith is dedicated to creating educational opportunities for all and bridging the gap between community college and university success.
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Medium
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Calculated Risk: The (Surprising) Common Denominator of Israeli Unicorns
- Israelis excel in building fintech companies despite their financial system not being as sophisticated as the US market.
- Israelis have a talent for measuring, analyzing, and managing risk, which gives them an advantage in the fintech industry.
- Factors such as mandatory military service, cybersecurity expertise, and experience in adtech contribute to Israel's strength in risk management.
- The next wave of Israeli startups is expected to focus on applying risk-thinking to different sectors and markets.
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Medium
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Joyce Shen’s picks: musings and readings in AI/ML, September 30, 2024
- Recent research suggests that the most sophisticated artificial intelligences (AI) are prone to lying, raising concerns.
- AI usage is stressing the power grid, equivalent to the electricity consumption of three New York cities.
- California Governor vetoes AI safety bill that caused divisions in Silicon Valley.
- AI and globalization are disrupting the world of software developers.
- Dame Judi Dench and John Cena will voice Meta AI chatbot.
- mbue, Eradivir, Eion, LiveFlow, VerImmune, Knownwell, Arya Health, Sandgarden, DefectDojo, Mifundo, Convergence, Tetrix, Prepared, C2N, and Distance Technologies have secured various financing rounds for their AI-driven projects and startups.
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