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AI dominated both YC Demo Day and startup news

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AI dominated both YC Demo Day and startup news

This week has been a busy one for the startup and VC world, with a variety of funding news and, in fact, the most recent edition of YC Demo Day.

The most interesting startup stories of the week

Image credits: OpenAI

Yes, AI, AI, AI. But there’s more happening here than meets the attention.

Departures: Several key individuals are leaving OpenAI — CTO Mira Murati, in addition to the corporate’s chief research officer and vp of research. There’s more context than we will summarize here, so should you’re so inclined, read on.

I keep that in mind: : Now it has been confirmed that former Apple designer Jony Ive is working on launching the AI ​​device with OpenAI and its CEO Sam Altman. The unnamed enterprise could seek to boost as much as $1 billion by the tip of the 12 months.

AltGPT: Letta, the substitute intelligence startup founded by the researchers behind MemGPT and positioning itself as an “open alternative to OpenAI”, has come out of hiding and raised a variety of expectations.

Pipelines: Data Launch Airbyte launched Airbyte 1.0 with a concentrate on AI use cases. It has also provided a universally managed service for enterprises.

The most interesting collections this week

Two people talking among Egym equipment (Image source: EGYM)
Image credits: SINGLE

COVID-19 almost killed some businesses and strengthened others. Now firms from both groups are finding their place and further trends are being confirmed.

Exercises: German fitness startup EGYM has closed a $200 million Series G funding round, confirming investor interest within the broader preventive health trend.

Digital transformation: Whatfix, a San Jose-based company whose platform demonstrates the way to use third-party software, raised $125 million in a Series E round led by Warburg Pincus.

The power of artificial intelligence: Open source development platform Supabase raised an $80 million Series C round. The company currently positions itself as Postgres-focused and takes advantage of artificial intelligence developments; 10% lively databases for AI use cases in Power Power Services.

Beaming: Marvel Fusion raised €62.8 million in a Series B round to work towards making business fusion power with lasers a reality.

In the highlight: British startup Raycast has raised $30 million to make its Mac productivity app available on Windows and iOS, with a concentrate on “prosumer” users.

The most interesting VC and funding news this week

Acurio Ventures team
Image credits: Acurio ventures

Exit time: Peak XV Partners, the biggest VC fund focused on India and Southeast Asia, has accomplished roughly $1.2 billion in exits since separating from Sequoia last 12 months, TechCrunch has learned from sources.

Rapid growth: European defense technologies will attract $1 billion in VC funding this 12 months, in response to a brand new report from Dealroom. This significant increase in comparison with previous years can also be related to the increased interest in dual-use technologies.

Sailing: Spanish VC firm All Iron Ventures has modified its name to Acurio Ventures and closed its third fund value $166 million, which can only make further investments.

No less vital

Lisbon, Portugal – November 2, 2022; Garry Tan, Associated Capital, on the Venture stage during the first day of Web Summit 2022 at the Altice Arena in Lisbon, Portugal. (Photo by Harry Murphy/Sportsfile for Web Summit via Getty Images)
Image credits: Harry Murphy/Sportsfile for Web Summit/Getty Images

Taking place on September 25 and 26, Y Combinator’s online demo day for its summer 2024 batch was once more dominated by AI use cases, a few of which were particularly exciting. The format itself is changing: in the long run, there can be 4 Demo Days a 12 months, and YC CEO Garry Tan said the following one, which can be held on December 4, will include an in-person element.

This article was originally published on : techcrunch.com
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The UK’s data watchdog confirms it is investigating the MoneyGram data breach

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UK data watchdog confirms it’s investigating MoneyGram data breach

The UK’s data protection regulator has confirmed it is investigating MoneyGram after receiving a data breach report from the US money transfer giant.

The UK’s Information Commissioner’s Office, which requires organizations to report data breaches inside 72 hours of detecting an incident, confirmed to TechCrunch on Friday that the regulator had received a report from MoneyGram in reference to a cybersecurity incident at the company.

“We have received the report from MoneyGram and will be seeking information,” ICO spokeswoman Lucy Milburn told TechCrunch.

The scale of the potential data breach at MoneyGram stays unknown. MoneyGram, the world’s second largest money transfer provider, serves greater than 50 million people yearly in over 200 countries and territories.

MoneyGram has been largely silent on the cybersecurity incident, except for a number of updates posted to its X account.

The company’s website, which has relaunched after almost per week of absence, accommodates no mention of the cybersecurity incident, and MoneyGram didn’t reply to TechCrunch’s repeated requests for comment.

MoneyGram first confirmed the cybersecurity incident on Monday after three days of operational downtime, stating that it had “identified a cybersecurity issue impacting some of our (sic) systems” and disabled some systems to contain the incident.

The outage took each the company’s website and app offline, stopping customers from making payments in person or online. The outage also affected MoneyGram’s partners, including Bank of Jamaica and British Post Office.

Latest update from MoneyGram, published in X on Thursdaysays customers can now “send and receive money through both our digital platforms and partners,” but adds that the company is still working to meet pending transactions.

The company says its app is now lively and available. When TechCrunch checked on Friday, the MoneyGram app remained offline.


This article was originally published on : techcrunch.com
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Technology

The UK’s data watchdog confirms it is investigating the MoneyGram data breach

Published

on

By

UK data watchdog confirms it’s investigating MoneyGram data breach

The UK’s data protection regulator has confirmed it is investigating MoneyGram after receiving a data breach report from the US money transfer giant.

The UK’s Information Commissioner’s Office, which requires organizations to report data breaches inside 72 hours of detecting an incident, confirmed to TechCrunch on Friday that the regulator had received a report from MoneyGram in reference to a cybersecurity incident at the company.

“We have received the report from MoneyGram and will be making inquiries,” ICO spokeswoman Lucy Milburn told TechCrunch.

The scale of the potential data breach at MoneyGram stays unknown. MoneyGram, the world’s second largest money transfer provider, serves greater than 50 million people yearly in over 200 countries and territories.

MoneyGram has been largely silent on the cybersecurity incident, apart from a couple of updates posted to its X account.

The company’s website, which has relaunched after almost every week of absence, comprises no mention of the cybersecurity incident, and MoneyGram didn’t reply to TechCrunch’s repeated requests for comment.

MoneyGram first confirmed the cybersecurity incident on Monday after three days of operational downtime, stating that it had “identified a cybersecurity issue impacting some of our (sic) systems” and disabled some systems to contain the incident.

The outage took each the company’s website and app offline, stopping customers from making payments in person or online. The outage also affected MoneyGram’s partners, including Bank of Jamaica and British Post Office.

Latest update from MoneyGram, published in X on Thursdaysays customers can now “send and receive money through both our digital platforms and partners,” but adds that the company is still working to satisfy pending transactions.

The company says its app is now lively and available. When TechCrunch checked on Friday, the MoneyGram app remained offline.


This article was originally published on : techcrunch.com
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Starlink has 4 million subscribers

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Starlink hits 4 million subscribers

SpaceX Satellite web network Starlink is predicted to hit a brand new customer milestone this week, company CEO Gwynne Shotwell told Texas lawmakers on Tuesday.

“By the way, we’re going to hit 4 million Starlink customers this week, which is pretty exciting,” she said while testifying before a House Appropriations Committee hearing. (The milestone was confirmed by SpaceX on Thursday.)

The milestone would mean that SpaceX has added one million latest customers because the end of May alone. This outpaces the corporate’s already impressive growth rate: Starlink began providing beta service for its product in October 2020; reached 1 million subscribers in December 2022, 2 million subscribers in September 2023 and three million in May. The constellation currently consists of virtually 6,000 satellites, and services can be found in almost 100 countries to individual users in addition to large corporate customers corresponding to major airlines and cruise lines.

The website is on the best track it should generate $6.6 billion in revenue this 12 months – up from about $1.4 billion just two years earlier, in line with research and consulting firm Quilty Space.

Starlink is critical to SpaceX’s overall plan to commercialize and ultimately explore space. While the corporate continued to lift money from investors, CEO Elon Musk he has been saying for years that revenues from broadband web service would help fund further development of the huge reusable rocket, Starship. In turn, bringing Starship online will help the corporate launch much more Starlink satellites at the next frequency.

Starlink has grow to be the undisputed giant of satellite Internet. Since the launch of the service, it has gained market share from incumbents corresponding to Viasat and SES, which operate large satellites in higher geostationary orbit. Several other constellations are currently in development, most notably Amazon’s Kuiper project, but haven’t yet entered business service.

This article was originally published on : techcrunch.com
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