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Venture

Ex-Twitch CEO Emmett Shear Launches AI Startup Backed by a16z

Emmett Shear, former CEO of Twitch, is venturing into the world of artificial intelligence with a new stealth startup called Stem AI, reports TechCrunch. Public documents reveal that the company was incorporated in June 2023 and filed for a trademark in August of the same year. Shear is listed as

Ant Group Denies Imminent IPO Restart Despite Recent Speculation

Ant Group, the fintech affiliate of Alibaba, has poured cold water on speculation that it is preparing to relaunch its initial public offering (IPO), according to a statement released Thursday on its Weibo account. The company said it "currently has no plans to go public, and there are no

ASML, Dutch Tech Firms Pledge $230M for Eindhoven Infrastructure

A group of Dutch technology companies, including chip equipment maker ASML, will contribute approximately $230 million to a fund aimed at developing infrastructure in the Eindhoven region of the Netherlands, reports Reuters. This move aligns with "Operation Beethoven," a government initiative to invest €2.5 billion ($2.7

Databricks Raises $10 Billion in Biggest US Venture Deal of 2023

Databricks, the US-based data analytics and AI company, has secured $10 billion in funding, marking the largest venture capital deal of the year in the US and valuing the company at $62 billion, reports Reuters. The mega-round was led by some of the largest and most active technology investors in

Space One Rocket Aborts Flight During Second Launch Attempt

Japanese startup Space One has experienced a setback in its quest to become Japan's first private company to orbit a satellite, with its latest rocket launch ending in an abort, reports Nikkei Asia. The failure marks the second such incident for the company this year. The 18-meter long

Revolut Staff and Early Investors Cash In $1 Billion After Banking License Approval

Revolut staff and early investors have sold nearly $1 billion worth of stock since August, following the fintech company's long-awaited UK banking license, as reported by the Financial Times. This secondary share sale, which initially allowed only current employees to sell, has been extended twice to enable early

Japan's Unicorn Growth Stalls Despite Record Number of Potential Startups

Japan's pool of potential unicorns, startups valued at $1 billion or more, reached a record high of 14 in 2024, according to a new survey by Nikkei, but the growth of these companies remains sluggish. The annual survey, now in its eighth year and conducted in partnership with

Ecosia and Qwant Team Up to Challenge Google's Search Dominance

Two European search engines, Ecosia and Qwant, are joining forces to build a European search index and reduce their dependence on US tech giants like Google, reports CNBC. The companies have formed a joint venture, called the European Search Perspective (EUSP), with equal ownership. The venture, set to launch in

Microsoft-Backed Startup Fastino Debuts Task-Optimized Enterprise AI Models That Run on CPUs

Fastino, a San Francisco-based startup, has emerged from stealth mode with a $7 million pre-seed funding round led by Insight Partners and M12, Microsoft’s Venture Fund, reports VentureBeat. The company is developing task-optimized enterprise AI models that offer improved performance at a lower cost, running efficiently on CPUs instead

Open Source Projects Find Funding Lifeline as Corporates, Startups Step Up

A growing shortage of funding for crucial open source technologies is leading to a surge in support from startups, corporations, and even venture capital firms, reports TechCrunch. Recognizing the critical role open source plays in their success, companies are stepping up to support these projects. Bloomberg launched its FOSS (free