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France leads in financing generative artificial intelligence in Europe, London has 3 times as many GenAI startups

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I like or I hate thisartificial intelligence – especially generative AI – is the technology story of 2024.

OpenAI, because of the implementation of viral services such as ChatGPT and multi-billion-dollar funding, has been in a position to absorb the lion’s share of attention and money up to now. But based on a brand new report from leading VC Accel and analysts at Dealroom, there may be now a wave of up-and-coming players poised to make their mark in Europe and Israel.

Europe and Israel typically together account for around 45% of all enterprise funding annually, but for those who translate this into the particular sphere of AI, the share drops to lower than half that quantity (and generative AI even less). This might be considered a signal that Europe and Israel are lagging behind in the market. On a more optimistic note, this implies we’ll see quite a lot of interesting developments in the approaching months and years as the region catches up.

Investors are currently trying to find the following big thing, potentially at prices less inflated than in the US. Interestingly, Accel partner Harry Nelis told me that considered one of the explanations this report was produced in any respect was because his firm was working hard to guage all of the generative AI startups emerging across the region, to search out out what to speculate in. So watch this space.

Meanwhile, listed below are a few of the most interesting data from the report:

London is the town that “generated” essentially the most GenAI startups.

Of the 221 Dealroom and Accel startups analyzed, around 27%, or almost a 3rd of the group, were founded in London. Tel Aviv got here second with 13%; Berlin 12%; and Amsterdam 5%. Interestingly, although Paris is a city that everybody has been talking about for a while as a hotbed for the event of artificial intelligence, it was very much in the center of the town rankings, with a rating of 10%.

Image credits: Showroom/Accel (opens in a brand new window) under license.

But these startups have power.

French startups GenAI earn essentially the most money

In total, French startups that describe themselves as working in the sector of generative artificial intelligence have raised $2.29 billion up to now, essentially the most of any country in Europe and greater than Israel. Recent rounds have included Mistral AI raising $640 million earlier this month (on top of about $500 million earlier), “H” raised $220 million in a SEED round a couple of weeks ago, and Poolside can also be reportedly in the means of raising a large round.

Other notable AI startups in Paris include Hugging Face, an open-source repository for machine learning models that raised $235 million in August 2023; and a brand new research organization called Kyutai, which itself is armed with tons of of hundreds of thousands of euros to make waves in open-source AI models.

Why is it that some places achieve this significantly better than others?

Nelis believes the predominant reason is an ideal storm of strong educational institutions that aren’t only educating loads of tech talent, but in addition attracting large tech corporations to develop their very own operations to leverage that talent.

(*3*) Nelis said. “The same applies to feeding in London by schools such as Cambridge, Oxford and UCL.” However, the step between universities and their founders just isn’t immediate: the center stage for many was working at large technology corporations which have created a platform to streamline recruitment.

“Universities are clearly very important in attracting hyperscale people,” Nelis said, citing the proven fact that Facebook/Meta established their research labs in Paris early on, as well as Google, which eventually arrange an analogous structure there after already partnering with DeepMind each in London and Paris.

“Founder factories” – hyperscale technology corporations – play a giant a part of this story

Indeed, while startups may appear to be the crucible of AI development, big tech corporations have a very important role to play in fanning those flames. Looking on the long tail of GenAI startups, about 25% of them have founders who previously worked at Alphabet (DeepMind or Google), Apple, Amazon, Meta or Microsoft (let’s call them MAAMA). The higher you go, the more clubbing it gets. Among the highest 10 startups, as many as 60% of the founders come from considered one of MAAMA.

In fact, one company in particular stands out as a transparent supplier of AI founders:

Image credits: Showroom (opens in a brand new window) under license.

This is not great news for those outside this group, although that too will likely evolve and expand as the sector matures and grows.

This article was originally published on : techcrunch.com
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MIT Develops Recyclable 3D-Printed Glass Blocks for Construction Applications

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MIT develops recyclable 3D-printed glass blocks for construction

The use of 3D printing has been praised as an alternative choice to traditional construction, promising faster construction times, creative design and fewer construction errors, all while reducing the carbon footprint. New research from MIT points to an interesting latest approach to the concept, involving the usage of 3D-printed glass blocks in the form of a figure eight, which may be connected together like Lego bricks.

The team points to glass’s optical properties and “infinite recyclability” as reasons to pursue the fabric. “As long as it’s not contaminated, you can recycle glass almost infinitely,” says assistant professor of mechanical engineering Kaitlyn Becker.

The team relied on 3D printers designed by Straight line — is itself a spin-off of MIT.

This article was originally published on : techcrunch.com
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Introducing the Next Wave of Startup Battlefield Judges at TechCrunch Disrupt 2024

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Announcing our next wave of Startup Battlefield judges at TechCrunch Disrupt 2024

Startup Battlefield 200 is the highlight of every Disrupt, and we will’t wait to search out out which of the 1000’s of startups which have invited us to collaborate can have the probability to pitch to top enterprise capitalists at TechCrunch Disrupt 2024. Join us at Moscone West in San Francisco October 28–30 for an epic showdown where everyone can have the probability to make a major impact.

Get insight into what the judges are in search of in a profitable company as they supply detailed feedback on the evaluation criteria. Don’t miss the opportunity to learn from their expert insights and discover the key characteristics that result in startup success, only at Disrupt 2024.

We’re excited to introduce our next group of investors who will evaluate startups and dive into each pitch in an in-depth and insightful Q&A session. Stay tuned for more big names coming soon!

Alice Brooks, Partner, Khosla Ventures

Alicja is a partner in Khosla’s ventures interests in sustainability, food, agriculture, and manufacturing/supply chain. She has worked with multiple startups in robotics, IoT, retail, consumer goods, and STEM education, and led mechanical, electrical, and application development teams in the US and Asia. She also founded and managed manufacturing operations in factories in China and Taiwan. Prior to KV, Alice was the founder and CEO of Roominate, a STEM education company that helps girls learn engineering concepts through play.

Mark Crane, Partner, General Catalyst

Mark Crane is a partner at General Catalysta enterprise capital firm that works with founders from seed to endurance to assist them construct corporations that may stand the test of time. Focused on acquiring and investing in later-stage investment opportunities equivalent to AuthZed, Bugcrowd, Resilience, and TravelPerk. Prior to joining General Catalyst, Mark was a vice chairman at Cove Hill Partners in Massachusetts. Prior to that, he was a senior associate at JMI Equity and an associate at North Bridge Growth Equity.

Sofia Dolfe, Partner, Index Ventures

Sofia partners with founders who use their unique perspective and private understanding of the problem to construct corporations that drive behavioral change, powerful network effects, and transform entire industries, from grocery and e-commerce to financial services and healthcare. Sofia can also be one of Index projects‘ gaming leads, working with some of the best gaming corporations in Europe, making a recent generation of iconic gaming titles. He spends most of his time in the Nordics, but works with entrepreneurs across the continent.

Christine Esserman, Partner, Accel

Christine Esserman joined Acceleration in 2017 and focuses on software, web, and mobile technology corporations. Since joining Accel, Christine has helped lead Accel’s investments in Blackpoint Cyber, Linear, Merge, ThreeFlow, Bumble, Remote, Dovetail, Ethos, Guru, and Headway. Prior to joining Accel, Christine worked in product and operations roles at multiple startups. A native of the Bay Area, Christine graduated from the Wharton School at the University of Pennsylvania with a level in Finance and Operations.

Haomiao Huang, Founding Partner, Matter Venture Partners

Haomiao from Venture Matter Partners is a robotics researcher turned founder turned investor. He is especially obsessed with corporations that bring digital innovation to physical economy enterprises, with a give attention to sectors equivalent to logistics, manufacturing and transportation, and advanced technologies equivalent to robotics and AI. Haomiao spent 4 years investing in hard tech with Wen Hsieh at Kleiner Perkins. He previously founded smart home security startup Kuna, built autonomous cars at Caltech and, as part of his PhD research at Stanford, pioneered the aerodynamics and control of multi-rotor unmanned aerial vehicles. Kuna was part of the Y Combinator Winter 14 cohort.

Don’t miss it!

The Startup Battlefield winner, who will walk away with a $100,000 money prize, can be announced at Disrupt 2024—the epicenter of startups. Join 10,000 attendees to witness this breakthrough moment and see the next wave of tech innovation.

Register here and secure your spot to witness this epic battle of startups.

This article was originally published on : techcrunch.com
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India Considers Easing Market Share Caps for UPI Payments Operators

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phonepe UPI being used to accept payments at a road-side sunglasses stall.

The regulator that oversees India’s popular UPI rail payments is considering relaxing a proposed market share cap for operators like Google Pay, PhonePe and Paytm because it grapples with enforcing the restrictions, two people accustomed to the matter told TechCrunch.

The National Payments Corporation of India (NPCI), which is regulated by the Indian central bank, is considering increasing the market share that UPI operators can hold to greater than 40%, said two of the people, requesting anonymity because the knowledge is confidential. The regulator had earlier proposed a 30% market share limit to encourage competition within the space.

UPI has change into the most well-liked option to send and receive money in India, with the mechanism processing over 12 billion transactions monthly. Walmart-backed PhonePe has about 48% market share by volume and 50% by value, while Google Pay has 37.3% share by volume.

Once an industry heavyweight, Paytm’s market share has fallen to 7.2% from 11% late last yr amid regulatory challenges.

According to several industry executives, the NPCI’s increase in market share limits is more likely to be a controversial move as many UPI providers were counting on regulatory motion to curb the dominance of PhonePe and Google Pay.

NPCI, which has previously declined to comment on market share, didn’t reply to a request for comment on Thursday.

The regulator originally planned to implement the market share caps in January 2021 but prolonged the deadline to January 1, 2025. The regulator has struggled to seek out a workable option to implement its proposed market share caps.

The stakes are high, especially for PhonePe, India’s Most worthy fintech startup, valued at $12 billion.

Sameer Nigam, co-founder and CEO of PhonePe, said last month that the startup cannot go public “if there is uncertainty on regulatory issues.”

“If you buy a share at Rs 100 and value it assuming we have 48-49% market share, there is uncertainty whether it will come down to 30% and when,” Nigam told a fintech conference last month. “We are reaching out to them (the regulator) whether they can find another way to at least address any concerns they have or tell us what the list of concerns is,” he added.

This article was originally published on : techcrunch.com
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