Friday, June 14, 2024

Sources: Shein tries to suppress its chair's claim that the retailer is American, amid fears it could annoy China, which needs to approve Shein's London IPO (Financial Times)

Financial Times:
Sources: Shein tries to suppress its chair's claim that the retailer is American, amid fears it could annoy China, which needs to approve Shein's London IPO  —  Donald Tang's remarks are said to have annoyed Chinese officials who need to approve London IPO  —  Online fast-fashion retailer Shein …



The crypto industry has amassed a $160M war chest to bolster pro-crypto US candidates, which could be pivotal in handing the Senate majority to GOP in November (Steven T. Dennis/Bloomberg)

Steven T. Dennis / Bloomberg:
The crypto industry has amassed a $160M war chest to bolster pro-crypto US candidates, which could be pivotal in handing the Senate majority to GOP in November  —  - Industry seeks regulatory changes to blunt SEC influence  — Democrats Sherrod Brown and Jon Tester targeted by crypto



Sources: Lightspeed wants to become a registered investment adviser, letting it use more than 20% of its funds, the cap for VC firms, to trade secondary markets (Tabby Kinder/Financial Times)

Tabby Kinder / Financial Times:
Sources: Lightspeed wants to become a registered investment adviser, letting it use more than 20% of its funds, the cap for VC firms, to trade secondary markets  —  Move is a sign of how traditional investment models are under threat by a challenging VC environment



Boulder, Colorado-based Enveda, which combines AI with ancient remedies for drug discovery, raised a $55M Series B extension from investors including Microsoft (Marina Temkin/TechCrunch)

Marina Temkin / TechCrunch:
Boulder, Colorado-based Enveda, which combines AI with ancient remedies for drug discovery, raised a $55M Series B extension from investors including Microsoft  —  For centuries, people chewed willow tree bark to relieve pain, but scientists at chemical firm Bayer didn't isolate its active ingredient until the 1800s



Thursday, June 13, 2024

Amazon and telecom Vrio plan to launch a satellite internet service in Argentina, Brazil, Chile, Uruguay, Peru, Ecuador, and Colombia, coming online in mid-2025 (Eliana Raszewski/Reuters)

Eliana Raszewski / Reuters:
Amazon and telecom Vrio plan to launch a satellite internet service in Argentina, Brazil, Chile, Uruguay, Peru, Ecuador, and Colombia, coming online in mid-2025  —  Amazon (AMZN.O) and telecommunications firm Vrio will jointly launch a satellite internet service in seven South American countries …



Dublin-based AccountsIQ, which offers AI-powered bookkeeping, raised €60M, after raising just €12.7M in its nearly 20 year history, and reports 1,000 clients (Ingrid Lunden/TechCrunch)

Ingrid Lunden / TechCrunch:
Dublin-based AccountsIQ, which offers AI-powered bookkeeping, raised €60M, after raising just €12.7M in its nearly 20 year history, and reports 1,000 clients  —  The European economy is on shaky ground, but there is a silver lining for enterprise startups: Those building tools …



Ant Group spent a record ~$2.9B on research in 2023, as the Alibaba affiliate develops its BaiLing LLM; Ant and affiliate MYbank served 87M businesses by 2023 (Xinyi Luo/Bloomberg)

Xinyi Luo / Bloomberg:
Ant Group spent a record ~$2.9B on research in 2023, as the Alibaba affiliate develops its BaiLing LLM; Ant and affiliate MYbank served 87M businesses by 2023  —  Founded by Jack Ma, Ant has been developing technology including its large language model BaiLing, which won approval …



Tuesday, June 11, 2024

UAE-based Tenderd, which uses AI to help reduce emissions, raised $30M led by Danish firm A.P. Moller, following a Peter Thiel-backed $5.8M seed in 2019 (Fahad Abuljadayel/Bloomberg)

Fahad Abuljadayel / Bloomberg:
UAE-based Tenderd, which uses AI to help reduce emissions, raised $30M led by Danish firm A.P. Moller, following a Peter Thiel-backed $5.8M seed in 2019  —  - Oil giant set up Wa'ed Ventures to invest in tech startups  — Tenderd says Aramco, Maersk are potential new customers



Apple's OpenAI partnership took up just two minutes of its one hour and 45 minute WWDC keynote, as the company focused on its own Apple Intelligence products (Nick Turner/Bloomberg)

Nick Turner / Bloomberg:
Apple's OpenAI partnership took up just two minutes of its one hour and 45 minute WWDC keynote, as the company focused on its own Apple Intelligence products  —  Apple's keynote presentation at its Worldwide Developers Conference lasted more than an hour and 45 minutes, but only about two minutes were devoted to OpenAI's ChatGPT.



Raspberry Pi jumps by up to 39% on its London trading debut, hitting a £542M market cap, after pricing shares at £2.80, and expects to ship 8.4M PCs in 2024 (Stephanie Stacey/Financial Times)

Stephanie Stacey / Financial Times:
Raspberry Pi jumps by up to 39% on its London trading debut, hitting a £542M market cap, after pricing shares at £2.80, and expects to ship 8.4M PCs in 2024  —  Listing set to give creator of low-cost computers a market valuation above £542mn



Russia's finance minister says Russian companies have begun using bitcoin and other digital currencies in international payments to counter Western sanctions (Gleb Bryanski/Reuters)

Gleb Bryanski / Reuters : Russia's finance minister says Russian companies have begun using bitcoin and other digital currencies in i...