Connect with us

Uncategorized

Daily Crunch: Jack Dorsey and Jay Z invest in bitcoin development

Published

on

Jack Dorsey and Jay Z create a bitcoin endowment, Datadog acquires a Startup Battlefield company and BuzzFeed experiments with AI-generated quizzes. This is your Daily Crunch for February 12, 2021.

Oh, and before we get started: Consider applying to the Early Stage pitch off and submitting a pitch deck for feedback on Extra Crunch Live!

The big story: Jack Dorsey and Jay Z invest in bitcoin development

The Twitter founder and rapper/entrepreneur have put 500 bitcoin (currently worth more than $23 million) into an endowment called ₿trust, which Dorsey said is being set up as a blind trust.

He also said the endowment will focus initially on bitcoin development in Africa and India — India’s government has been reluctant to embrace cryptocurrencies thus far, while Africa (especially Nigeria) has had a surge in transactions.

A job description for ₿trust’s board members says that the organization’s mission is to “make bitcoin the internet’s currency.”

The tech giants

Datadog to acquire application security management platform Sqreen — Originally founded in France, Sqreen participated in TechCrunch’s Startup Battlefield in 2016.

BuzzFeed uses AI to create romantic partners in its latest quiz — Director of Product for Quizzes Chris Johanesen said he’s hoping this will be the first in a series of “stunt-y experiments.”

Startups, funding and venture capital

Online workspace startup Notion hit by outage, citing DNS issues — Notion’s service was not loading as of around 9 a.m. ET on Friday.

Ember names former Dyson head as consumer CEO, as the startup looks beyond the smart mug — Ember is best known for its smart, heated mugs.

Advice and analysis from Extra Crunch

2 years in, Extra Crunch is helping readers build and grow companies around the world — You don’t need a membership to read about what Extra Crunch has accomplished and what’s next.

Felicis’ Aydin Senkut and Guideline’s Kevin Busque on the value of simple pitch decks — Even though Busque is a co-founder of TaskRabbit, he didn’t get the response he was hoping for the first time he pitched Senkut.

Will ride-hailing profits ever come? — A detour into Uber and Lyft’s numbers.

(Extra Crunch is our membership program, which helps founders and startup teams get ahead. You can sign up here.)

Everything else

Minneapolis bans its police department from using facial recognition software — Thirteen members of the city council voted in favor of the ban, with no opposition.

Use today’s tech solutions to meet the climate crisis and do it profitably — As we enter the most crucial decade of climate action, we need to ensure that clean technologies become the only acceptable norm.

Sweden’s data watchdog slaps police for unlawful use of Clearview AI — Earlier this month Canadian privacy authorities found Clearview had breached local laws.

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 3pm Pacific, you can subscribe here.

Lyron Foster is a Hawaii based African American Musician, Author, Actor, Blogger, Filmmaker, Philanthropist and Multinational Serial Tech Entrepreneur.

Continue Reading
Comments

Uncategorized

Qualcomm veteran to replace Alain Crozier as Microsoft Greater China boss

Published

on

Microsoft gets a new leader for its Greater China business. Yang Hou, a former executive at Qualcomm, will take over Alain Crozier as the chairman and chief executive officer for Microsoft Greater China Region, according to a company announcement released Monday.

More to come…

Continue Reading

Uncategorized

Autonomous drone maker Skydio raises $170M led by Andreessen Horowitz

Published

on

Skydio has raised $170 million in a Series D funding round led by Andreessen Horowitz’s Growth Fund. That pushes it into unicorn territory, with $340 million in total funding and a post-money valuation north of $1 billion. Skydio’s fresh capital comes on the heels of its expansion last year into the enterprise market, and it intends to use the considerable pile of cash to help it expand globally and accelerate product development.

In July of last year, Skydio announced its $100 million Series C financing, and also debuted the X2, its first dedicated enterprise drone. The company also launched a suite of software for commercial and enterprise customers, its first departure from the consumer drone market where it had been focused prior to that raise since its founding in 2014.

Skydio’s debut drone, the R1, received a lot of accolades and praise for its autonomous capabilities. Unlike other consumer drones at the time, including from recreational drone maker DJI, the R1 could track a target and film them while avoiding obstacles without any human intervention required. Skydio then released the Skydio 2 in 2019, its second drone, cutting off more than half the price while improving on it its autonomous tracking and video capabilities.

Late last year, Skydio brought on additional senior talent to help it address enterprise and government customers, including a software development lead who had experience at Tesla and 3D printing company Carbon. Skydio also hired two Samsara executives at the same time to work on product and engineering. Samsara provides a platform for managing cloud-based fleet operations for large enterprises.

The applications of Skydio’s technology for commercial, public sector and enterprise organizations are many and varied. Already, the company works with public utilities, fire departments, construction firms and more to do work including remote inspection, emergency response, urban planning and more. Skydio’s U.S. pedigree also puts it in prime position to capitalize on the growing interest in applications from the defense sector.

a16z previously led Skydio’s Series A round. Other investors who participated in this Series D include Lines Capital, Next47, IVP and UP.Partners.

Continue Reading

Uncategorized

Space startup Gitai raises $17.1M to help build the robotic workforce of commercial space

Published

on

Japanese space startup Gitai has raised a $17.1 million funding round, a Series B financing for the robotics startup. This new funding will be used for hiring, as well as funding the development and execution of an on-orbit demonstration mission for the company’s robotic technology, which will show its efficacy in performing in-space satellite servicing work. That mission is currently set to take place in 2023.

Gitai will also be staffing up in the U.S., specifically, as it seeks to expand its stateside presence in a bid to attract more business from that market.

“We are proceeding well in the Japanese market, and we’ve already contracted missions from Japanese companies, but we haven’t expanded to the U.S. market yet,” explained Gitai founder and CEO Sho Nakanose in an interview. So we would like to get missions from U.S. commercial space companies, as a subcontractor first. We’re especially interested in on-orbit servicing, and we would like to provide general-purpose robotic solutions for an orbital service provider in the U.S.”

Nakanose told me that Gitai has plenty of experience under its belt developing robots which are specifically able to install hardware on satellites on-orbit, which could potentially be useful for upgrading existing satellites and constellations with new capabilities, for changing out batteries to keep satellites operational beyond their service life, or for repairing satellites if they should malfunction.

Gitai’s focus isn’t exclusively on extra-vehicular activity in the vacuum of space, however. It’s also performing a demonstration mission of its technical capabilities in partnership with Nanoracks using the Bishop Airlock, which is the first permanent commercial addition to the International Space Station. Gitai’s robot, codenamed S1, is an arm–style robot not unlike industrial robots here on Earth, and it’ll be showing off a number of its capabilities, including operating a control panel and changing out cables.

Long-term, Gitai’s goal is to create a robotic workforce that can assist with establishing bases and colonies on the Moon and Mars, as well as in orbit. With NASA’s plans to build a more permanent research presence on orbit at the Moon, as well as on the surface, with the eventual goal of reaching Mars, and private companies like SpaceX and Blue Origin looking ahead to more permanent colonies on Mars, as well as large in-space habitats hosting humans as well as commercial activity, Nakanose suggests that there’s going to be ample need for low-cost, efficient robotic labor – particularly in environments that are inhospitable to human life.

Nakanose told me that he actually got started with Gitai after the loss of his mother – an unfortunate passing he said he firmly believes could have been avoided with the aid of robotic intervention. He began developing robots that could expand and augment human capability, and then researched what was likely the most useful and needed application of this technology from a commercial perspective. That research led Nakanose to conclude that space was the best long-term opportunity for a new robotics startup, and Gitai was born.

This funding was led by SPARX Innovation for the Future Co. Ltd, and includes funding form DcI Venture Growth Fund, the Dai-ichi Life Insurance Company, and EP-GB (Epson’s venture investment arm).

Continue Reading

Trending