Tech Funding Recap for April 12, 2021

There is no doubt that the tech space is booming. Companies on the cutting edge are keeping up by raising funds and making acquisitions to improve and develop their products on an ongoing basis. Graphcore and Honeywell are two companies that have been upping their game in the past few months. Read on to find out more about their funding efforts and what they are bringing to the table.

Graphcore

When it comes to tech, AI is what drives it all. These intuitive systems are programmed to think like humans and play an integral role in machine learning and problem solving.

Graphcore brings new AI developments to the table with Intelligence Processing Units (IPUs) that are effective in speeding up AI applications. They are most focused on natural networks, deep learning, and machine learning. Their multicore design targets low precision arithmetic or in-memory computing, both of which enhance AI algorithm performance, resulting in improved natural language processing and computer vision, as well as boosts in other domains.

The company is a Bristol, UK-based startup that was founded in 2016. Its first commercial release was a 16-nanometer PCI express card known as C2. The card became available in 2018 and launched on Microsoft Azure in 2019 for the consumer market. It was responsible for breakthroughs in natural learning and machine intelligence.

Earlier this year, the company partnered with Dell to launch Cirrascale IPU Bare Metal Cloud, an IPU managed service from the Cirrascale Cloud provider. It also open sourced its libraries for building and executing apps on IPUs.

Graphcore recently announced that it raised $222 million in a series E funding led by the Ontario Teachers’ Pension Plan Board. The money will be used to support the company’s global expansion and continue to accelerate silicon systems and software development in the future.

Honeywell

Honeywell is another company active in the AI space. It announced that it will acquire Sparta Systems for $1.3 billion. This will allow it to gain control of quality management software (QMS) that will bring improvements to machine learning algorithms and other Ai capabilities. It will make the next phase of their development process possible.

The Honeywell company focuses on the life sciences sector and is making moves to integrate TrackWise digital QMS software from Sparta with internet of things (IoT) platforms. The goal of the project is to augment human decision making AI technology. The resulting algorithms should put a system into motion that analyzes data in real time and executes the processes in a measure of time that is mere milliseconds or even microseconds.

The merging of machine learning and application infused logic represents the next wave of IT. It presents an alternative to processing data through legacy batch mode processes that require data to be transferred to the cloud or a local datacenter. Instead, it allows data to be processed in real time speeding things up considerably.

Once data is processed, it can be shared with other applications. This will enable organizations to manage industrial IoT processes on a larger scale making workflows more manageable.

Tech Funding Recap for April 5, 2021

Technology is booming. Companies that are on the cutting edge are destined to shine in bringing innovative products to the world. They are working on funding campaigns that will help them keep up with the demand so they can continue churning out the products that are becoming vital to our lives.

AMP Robotics and Ducky Channel are two companies that have successfully recently completed their funding rounds. Read on to find out how the funds will be applied and to learn about the new developments they have coming.

AMP Robotics

According to the Environmental Protection Agency’s data the United States generated about 262 million tons of municipal waste in 2015. 91 tons of that waste was recycled and composted. However, the pandemic has caused many businesses to suspend recycling operations bringing down the amount of waste that is properly disposed of.

AMP Robotics presents a solution in the form of robotic systems that sorts recyclable material. The Denver-based company offers a platform that delivers pick up rates that are 80 items per minute higher than manual processes.

Its modular design allows facility managers to adapt it to existing workflows, and it can be tailored to individual brands and the SKU’s of the products being recycled. The AMP Robotic system can sort items like metals, batteries, capacitors, mixed plastics concrete, mixed wood, aluminum, thin film by color… and the list goes on.

The waste sorting robotics market is set to reach $12.6 billion dollars by 2024, yielding an annual growth rate of 16.52%. to keep up. AMP has recently closed a $55 million series B funding round. The funds will be used to scale business operations and develop AI applications that work with material recovery facilities to increase recycling rates.

Ducky Channel

Hypercasual games are simple games that are commonly played on mobile devices and they can be made almost anywhere in the world. Ducky Channel is a company based out of Russia that is responsible for games that have been played 145 million times and have generated $1 million in monthly revenue.

Hypercasual games are low commitment and, therefore, they can be played almost anywhere. You can play them during breaks at work, while waiting in line at the store, or even in the bathroom. They appeal to busy people with short attention spans and are a hit with both young and older generations. Their popularity has caused them to rank on top 100 lists and generate billions of dollars, with 95% of the revenue coming from ad sales.

Ducky’s games have been downloaded at least 25 million times and are accessed by users all over the world. Their games have been played in the United States, China, the United Kingdom, and Japan. The company tests their games and acquires feedback at rapid speed. The feedback is then passed on to developers. They take 50-50 splits of profit sharing and invest in hits as they are generated.

Ducky’s teams have developers all over the world. Their profitability has allowed them to raise $1 million in funding which will be used to continue their rapid developing and testing process.

Tech Funding Recap for March 15, 2021

Technology is growing in leaps and bounds. There is a constant need for developments that add convenience to our lives, and companies are answering the call, raising funds to contribute to innovative products and services.

Beyond Minds are Afresh are two companies that have reached their financial goals for March 2021. This article will outline their recent efforts and how the funding will be put to use.

Beyond Minds

AI is an integral part of tech. Research shows that business use of AI has increased by 270% in the last four years alone.

Beyond Minds offers a modular AI technology stack that is used in the development of enterprise products. The company provides innovative datasets and representations that are key in training computer vision, natural language, text to speech, and time series models scaled down to run in small computer environments.

The organization consults with companies to assess their AI needs to create and deploy suitable customized products. Then they continue to monitor and improve their products using live data and feedback to optimize their effectiveness in the given application.

Their efforts are not entirely new to the tech space. Similarities have been drawn to Data Robot’s AI platform. However, Beyond Minds takes it a step further by stabilizing machine learning solutions bringing trust, monitoring and feedback to an otherwise “dynamic and noisy” tech space.

The company serves a variety of industries including finance and government. They have worked with notable corporations, such as Samsung, KPMG, Microsoft and leading defense companies and financial institutions. Their product line includes fraud detection, defect detection, predictive maintenance, risk assessment, underwriting, and claim automation.

Beyond Minds has recently announced the completion of a $15 million funding round. The majority of the funds will be devoted to sales and R&D.

Afresh

The Afresh company brings convenient technology to the agricultural space by introducing a fresh food optimization platform for grocers. It is aimed to improve freshness, sales, and profitability. Based on the latest research, the product has yielded a 25% decrease in food waste and a 2-4% revenue growth overall, with a 40% or more increase in the produce operating margin.

Additionally, employees who use Afresh find it to be a time saving tool and are now able to devote more hours to helping customers and merchandising fresh produce. The platform has been valuable during the pandemic, as it helped fresh departments adapt during unpredictable times.

The demand for fresh produce has increased over the past year, and Afresh has been boosting their resources to keep up. They have doubled in size from 2019 to 2020 and are expected to double again in 2021. Their expansion efforts are also set to support critical functions across supply chain, store operations, and merchandising for all fresh categories in the coming months.

The $13 million they have raised in funding will support their growth efforts. They also recently added grocery industry veteran James McCann, CEO of Food Retail Ventures, and former CEO of Ahold USA, to their board of directors.

Tech Funding Recap for March 8, 2021

Technology is an industry that just keeps on growing. Tech companies are constantly improving and updating to make people’s lives more convenient. Read on to find out about three companies who recently raised funds to grow their businesses and create products that move the world forward.

Verbit

Verbit is a voice and speech recognition tech company that focuses on the banking, health care, and automotive industries. The Tel Aviv and New York based startup will be contributing to the voice transcription services in speech recognition tech. The company will be offering adaptive speech recognition that can generate detailed transcriptions that are over 99.9% accurate.

Verbit sets itself apart from other companies due to its reliance on advances in machine learning and natural language understanding. It relies on acoustic, linguistic and contextual algorithms that filters out background noise and identifies speakers regardless of accent while recognizing domain specific terms and incorporating current events and updates.

It works by taking audio and video files to a cloud dashboard where a team of more than 22,000 freelancers in over 120 countries edit and review the material according to customer supplied guidelines.

The company recently announced the close of a $60 million series C round that they will be using to boost R & D.

Zapata

Zapata is a company that’s mission is, “Delivering quantum advantage for customers through real business use cases.”

Quantum computing relies on qubits (bits that can be in a state of 0 or 1 as opposed to other bits that can only be in one state or the other) to perform computations that are beyond most computers’ capabilities. Zapata focuses on algorithms and software that sit on top of the hardware.

Its sole product is a hardware agnostic Orquestra quantum computing platform that can be used by businesses to figure out the best applications for quantum computing without requiring a lot of prior technical knowledge.

Zapata recently raised $38 million for its quantum computing enterprise software program. It plans to continue its work on the optimization and simulation of the product and says that it is currently best optimized for machine learning.

Gunzilla

Gunzilla is a gaming company that is working on a new generation of shooters. Its goal is to relate an engaging story without sacrificing game play.

The game currently being developed is based on a story written by Richard K. Morgan (Altered Carbon and The Steel Remains) and long time video game writer Oliver Henriot (Assassin’s Creed, The Division, Far Cry). The game is targeted for Sony PlayStation 5 and the Microsoft Xbox Series X.  

The company recently raised $25 million to make triple A projects. They are hoping to grow their team to more than 200 employees by the end of the year and implement new approaches to make their next game a rousing success.

The steps these companies are taking will serve to make life more exciting, more convenient and more enjoyable overall. The funds they have raised will help them further develop their products and their companies. It will be interesting to see what they come up with in the coming years.

Tech Funding Recap for March

With spring right around the corner, you can bet there are plenty of companies ready to launch and update their tech products, and they are getting the funding they need to do so. Recently, companies like Forter, Aclima, and Pllay are expected to move the world of tech forward in innovative ways. Here is a recap of what you should be looking out for in the coming season.

Forter

The pandemic saw an unprecedented rise in the ecommerce industry, and plenty of incidents of fraud came along with it. Forter is a fraud detection platform meeting the demands in keeping people’s personal information safe.

Forter works with banks, online payment platforms and merchants to detect and prevent fraudulent transactions including identity theft, account takeover, credit card fraud. When a customer arrives on a website, the company tracks their behavior and uses an analytics engine to determine their intent when making a purchase. Then the system decides whether to flag the behavior as potentially fraudulent.

The increase in ecommerce along with the need for fraud detection has caused Forter’s revenue to double in the past year. As a result, they also doubled their employee count and now hire 225 employees across eight offices. They recently raised $125 million in a series E round that values the company at over $1.3 billion.

Aclima

Pollution and the damage it causes our environment has been a major concern for many years. Aclima is doing their part introducing systems that measure pollution on a block by block level and using that data to combat climate change.

Aclima, one of the few tech companies owned by a woman of color, measures pollution on a hyperlocal level in an effort to reduce emissions. They work with Google StreetView putting sensors on StreetView electric cars as they drive around cities to get a block view of pollution levels. This enables them to reach people in a variety of areas implementing a low friction approach.

The company has been successful in determining the extent of air damage the recent wildfires in the Bay Area caused to provide the government with hot spots and sources. When airs cleared in San Diego during the pandemic, they were able to measure pollution which was still concentrated in lower income neighborhoods. Aclima recently raised $40 million to further this technology.

Pllay

The gaming industry seems to get bigger every year. Pllay is at the forefront introducing a skill-based video game wagering platform that enables gamers to wage 1-on-1 duels in their favorite games.

The peer-to-peer wagering platform is designed for mobile phones and allows players to wager on matches played on other platforms. It is not considered gambling because it does not have purely random results and it is now legal in 39 states. The platform targets people who are 18 and over and runs checks on people before they put money in the system.

One challenge the company faced is figuring out how to verify who won in a 1-on-1 duel. They found a solution involving monitoring matches on Twitch with AI. After the money is held in escrow, it is paid out as soon as verification is complete.

Pllay recently raised $3 million in funding which will be used to hire new employees, develop tech, improve the user experience and increase user acquisition.

Tech Funding Recap for Feb. 15, 2021

Technology has changed our world for the better. It has made life more convenient and introduced time and money saving methods that make businesses run more efficiently.

In the past year, there have been several tech companies that have been redoubling their efforts to continue presenting innovative products and ideas. Here are three companies expected to shine in 2021

Shotcall

Shotcall is a company that is introducing a new way of gaming. Their technology allows people to create communities around games like League of Legends, Fortnite, Call of Duty, Warzone, and more.

Company founders felt fan communities should evolve beyond live streaming platforms that simply allow fans to watch their favorite players and communicate through message boards and online media.

Instead, Shotcall introduced a marketplace/platform hybrid where fans can play games with their favorite gamers. It is for gamers who have a fan base and it also works for content creators, streamers, pro gamers, celebrity artists, and athletes looking to connect with their fans through gaming.

Shotcall has recently raised $2.2 million in seed funding to build their platform.

Human API

Human API is a San Mateo, CA based company that is developing an AI pipeline to structure health data into a standardized format. The new tech is an answer to the 21st Century Cures Act that was signed into law in December of 2016.

The legislation requires that patients be provided access to their health information. However, experts estimate that as many as half of the records are mismatched when the data is transferred between systems.

Human API’s platform provides a means of accessing and sharing records between physicians, startups, and insurers and normalizes and structures the data as it comes in. It uses an industry standard coding system to convert unstructured data into a consistent format that is more accurate.

The company recently raised over $20 million which will be used to support product design, clinical research, population health management, chronic disease management, patient monitoring, and risk stratification.

Exer Labs

Exer Labs is a Denver based tech company that recently unveiled its Exer Studio App for Mac. The app uses your laptop’s computer to capture movement, evaluate form and offer coaching advice. Results can be shared with friends and fitness coaches. It also features a Peloton Style leaderboard that encourages you to up your fitness game.

The app relies on your smartphone and computer AI to power its platform. It offers real time audio and visual feedback on any type of human motion. Its overall mission is to help people train and perform better.

The platform can also be used by coaches conducting virtual classes. It gives them a better idea of which of the participants need help with their training.

Exer Labs recently raised $2 million dollars in funding towards releasing the app.

Tech is moving forward in leaps and bounds. These are just a few of the noteworthy companies advancing in the coming year. It is amazing to see what they are doing to make the world move faster and better.

Tech Funding Recap for Feb. 8, 2021

There’s no doubt that technology is ruling the world. It seems like every time we turn around, there’s a product coming out that makes our lives more efficient.

And behind each of these products is a great company with leaders that have innovative ideas that are changing the world.

The online publication Venture Beat salutes the companies that are hitting it out of the park. Here are three businesses worthy of a shout out.

Arable

The agriculture industry is growing in leaps and bounds but climate change is making it difficult to keep up.

According to a 2018 study in Agriculture and Food Security, 95% of smallholder farmers in Central America have experienced the impact of climate change in the form of rising temperature, unpredictable rainfall, and extreme weather events. Meanwhile, United Nations projects that an increase in population will cause a 69% rise in the agricultural industry between 2010 and 2050.

Arable has introduced a tool to help farmers keep up.

The Arable Mark is an irrigation management tool that connects via LTE-M, 2G and 3G and synthesizes climate, plant, and soil data to produce visualizations. The visualizations are delivered via web dashboard and smartphone app and provide information on precipitation, crop water deficit, soil moisture, and temperature patterns.

The company has recently raised $20 million, which will be used to accelerate growth and help farmers keep up with modern demands.

CodeSandbox

CodeSandbox is a company that focuses on simplifying code to make it more accessible. Commonly referred to as low code or no code, the company created a browser based service that bridges collaboration and low code elements.

While CodeSandbox is far from the only company working to simplify coding, their product stands out, because, unlike other companies that have created web-based tools for individual coders in the past, CodeSandbox’s product will be designed for teams.

The CodeSandbox product also allows product designers who don’t have coding skills to make and accept changes. This saves time spent making suggestions to coders, waiting for changes to be made and reviewing them before moving on.

CodeSandbox recently raised $12.7 million towards their endeavors, which will be used to move their project forward.

Onfleet

The pandemic has sent eCommerce through the roof. Onfleet is helping retailers meet the demands by providing a delivery management tool that will simplify processes.

Onfleet has created a dispatch platform that manages the delivery process from beginning to end. The web-based dashboard provides access to the auto-dispatch engine that assigns jobs to drivers based on their availability and proximity taking location, capacity and traffic conditions into account.

The tool also has an integrated chat platform that allows dispatchers and drivers to communicate directly through the dashboard eliminating the need to use other apps. It has real time alerts and ETAs, allowing companies to keep their customers updated.

Onfleet has recently raised $14 million in funding that will help them make their product available for the companies that so desperately need it.

These tech companies are paving the way for our brave new world. We can only wait to find out how the transformations they make will continue to improve our lives.

Tech Funding Recap for Feb. 2, 2021

Technology is growing in leaps and bounds, and there are several startups meeting the demands of our brave new world. These companies are providing services to make doing business, and life in general, more convenient.

Venture Beat is an online publication that salutes tech companies that are on the cutting edge and raising funds to break ground. Here are some they are including in their round up.

Ushur

There is no doubt that the work from home revolution is taking over. As the pandemic and other factors create more of a need for telecommunication, there is an increased demand for process discovery and automation in our technological systems.

Ushur is meeting that demand by providing products that engage customers via email, apps, text and direct messaging. Features include a visual builder, tools for data extraction and integration with backend systems like Salesforce, ServiceNow, and various legacy systems.

Their software measures outcomes of engagement that can be valuable in auditing campaign results. They also provide translation services that can allow businesses to increase their global reach.

The company has recently raised $25 million, which will be used towards boosting their sales and marketing efforts.

Ayar Labs

Transistors are tiny on off switches that live inside silicon chips. Over time, technology has developed making these switches smaller and smaller, allowing the computer and electronics industry to flourish.

But one major impediment is the copper interconnections between transistors. The resistive capacitive delay (RC delay) within the interconnects prevent the transistors from becoming faster when they shrink due to the copper remaining unreliable at a smaller size.

Ayar Labs is involved in an effort to move data from chip to chip using light instead of electricity. The company predicts that this solution will overcome the scaling challenges involved with the semiconductors while interconnecting bandwidth obstacles between devices.

The company recently raised $35 million for the product development of it’s optical interconnect chip, which is very good news for the tech industry.

Provizio

Provizio aims to make the road safer by introducing advanced Accident Prevention Technology for automobiles.

In the past, the company has developed technologies for AI operating as well as radar technology to provide drivers with information from beyond their line of site alerting them of potential problems.

They are integrating their developments with other safety technologies to provide vision and radar sensors that will increase reaction times from one second to ten. This kind of technology will provide accident prevention in the short term as opposed to current systems that are involved in extensive testing that can delay the process for several years.

Provizio recently announced it raised $6.2 million, which will be used to accelerate development of its Accident Prevention Technology making the world a safer place all around.

These three companies are doing their part in introducing groundbreaking tech that will make life more convenient. It will be exciting to see how their endeavors pay off in changing our future for the better.

Tech Funding Recap for Jan. 18, 2021

Technology is growing in leaps and bounds. Tech companies are constantly raising funds to increase their resources for developing new products and services to provide added conveniences in the B2B and B2C world.

Recently, the online publication VentureBeat has noted companies like Passive Logic, Qatalog, and Augury for their fundraising efforts and the new offerings they are unleashing. Here is a review of what’s to come.

Passive Logic

Passive Logic is a startup that specializes in building controls platforms that focus on human comfort. They recently raised $16 million which will be dedicated to increasing their workforce and accelerating research and development.

Hardware engineering specialists Troy Harvey and Jeremy Fillingim founded Passive Logic in 2016 in an effort to simplify commercial building systems by providing autonomous controls to the building construction market. Their Autonomy Studio’s platform allows customers to develop systems for building and projects with streamlined automation including self adjusting controls. The innovation is in the fact that the system is based on the law of physics rather than the set points and controls manual building systems have relied on in the past.

The newer systems have the ability to control sequences in real time based on the building changing dynamics. The engine employed analyzes the implications of its actions before putting them into effect and selects the best controls under the current conditions.

Qatalog

Qatalog is a London-based start up with the goal of streamlining the way companies do business by eliminating the close to 200 apps they use each day by providing unified tools and products. This will make it easier for workers to find the data they need and cut down on the wasted time and frustration that comes from finding and switching between multiple apps.

The startup has announced raising $15million from an A round series led by Atomico as well as a $3.5 million seed round led by Mosaic Ventures, which completed last October.

The company was founded in 2019 by Tariq Rauf, a former global leader at Amazon. The aim of the startup is to connect the dots between major company directories, documents, communications, and workflows.

At launch, they had already integrated with major players like Slack, Google Workspace, Zoom, Trello, Dropbox and more, and they are adding more integrations each week. This allows users to easily find any person, team or project in their company while displaying the connections between contacts as far as what they’ve been working on to present day.  

Augury

Self described “machine health” AI solutions provider Augury has recently announced the closing of a funding round for $55 million. The money will be used to increase hires, research and development, and customer acquisition.

The startup refers to itself as the “Shazam for machines.” Its sensors record readings from motors, compressors and pumps, and process factors like vibration, temperature, and magnetism metrics. The data is then uploaded to the cloud where it is analyzed by AI algorithms to provide predictions regarding the machine’s health.

Augury already has an impressive list of clients, but it is working on expanding and building a network of delivery partners to increase installations of its equipment. It also has plans to provide new language support for its product suite and key alerts for customers. It will boost its range of country specific certification to allow for a greater worldwide reach.

Congratulations to these companies on reaching their fundraising goals. We look forward to seeing how they increase convenience in today’s growing world of technology.