Author: azeeadmin

12 Apr 2021

Twitter to set up its first African presence in Ghana

Twitter CEO Jack Dorsey, via a tweet today, announced that the company would be setting up a presence in Africa. “Twitter is now present on the continent. Thank you, Ghana and Nana Akufo-Addo,” he said.

In a statement attached to the tweet, Twitter says it is now actively building a team in Ghana “to be more immersed in the rich and vibrant communities that drive the conversations taking place every day across the continent.”

Twitter indicated several roles from product and engineering to design, marketing, and communications for job openings in the company. However, individuals will fill these roles remotely as Twitter makes plans to establish an office in the country later.

Ghanaian President Nana Akufo-Addo, enthused about the news said “the choice of Ghana as HQ for Twitter’s Africa operations is excellent news. Government and Ghanaians welcome very much this announcement and the confidence reposed in our country.”

He also revealed that he held a virtual meeting with Dorsey on the 7th of April, where the two parties might have finalized the deal.

“As I indicated to Jack in our virtual meeting on 7th April 2021, this is the start of a beautiful partnership between Twitter and Ghana, which is critical for the development of Ghana’s hugely important tech sector. These are exciting times to be in and to do business in Ghana,” he added.

According to Twitter, the decision to kick off its African expansion with Ghana stems from the country’s dealings with AfCFTA and its openness towards the internet.

“As a champion for democracy, Ghana is a supporter of free speech, online freedom, and the Open Internet, of which Twitter is also an advocate. Furthermore, Ghana’s recent appointment to host The Secretariat of the African Continental Free Trade Area aligns with our overarching goal to establish a presence in the region that will support our efforts to improve and tailor our service across Africa,” the statement read.

12 Apr 2021

Cybersecurity training startup Hack The Box raises $10.6M Series A led by Paladin Capital

Cybersecurity training startup Hack The Box, which emerged originally from Greece, has raised a Series A investment round of $10.6 million, led by Paladin Capital Group and joined by Osage University Partners, Brighteye Ventures, and existing investors Marathon Venture Capital. It will use the funding to expand. Most recently it launched Hack The Box Academy.

Started in 2017, Hack The Box specializes in using ‘ethical hacking’ to train cybersecurity techniques. Users are given challenges to “attack” virtual vulnerable labs in a simulated, gamified, and test environment. This approach has garnered over 500,000 platform members, from beginners to experts, and brought in around 800 organizations (such as governments, Fortune 500 companies, and academic institutions) to improve their cyber-adversarial knowledge.

Haris Pylarinos, Hack The Box Co-Founder and CEO said: “Everything we do is geared around creating a safer Internet by empowering corporate teams and individuals to create unbreakable systems.”

Gibb Witham, Senior Vice President, Paladin Capital Group commented: “We’re excited to be backing Hack The Box at this inflection point in their growth as organizations recognize the increasing importance of an adversarial security practice to combat constantly evolving cyber attacks.”

Hack The Box competes with Offensive Security, Immersive Labs,   
INE, and eLearnSecurity (acquired by INE).

Hack The Box is using a SaaS business model. In the B2C market it provides monthly and annual subscriptions that provide unrestricted access to the training content and in the B2B market, it provides bi-annual and annual licenses which provide access to dedicated adversarial training environments with value-added admin capabilities.

12 Apr 2021

When wildfires rage close, Perimeter wants to tell you where to go

Out the window, a fire is raging — and it’s moving ever closer. Confusion. Fear. A run for the car. Roads open and then suddenly closed by authorities. Traffic jams. A fire break that stalls the flames and then suddenly the flames jump, changing direction. Everyone has a plan for what to do — a plan that gets ripped up the second someone leaves their home to evacuate.

In the heat of the moment, everyone needs to know exactly what to do and where to go. Unfortunately, that information is rarely available in the format they need.

Bailey Farren’s family has experienced this four times living in California north of San Francisco. The wildfires are more common than ever with the aridness of climate change, yet the evacuations remain a pandemonium. While a student at Berkeley, she started investigating what was happening, and why her family constantly lacked the information they needed to get out safely and swiftly. “I thought that first responders had everything they need,” she said.

They don’t. Firefighters on the frontlines often lack the technology needed to relay accurate information to operations centers, which can then guide citizens on how to evacuate. With the pressing need to keep citizens up-to-date, most authorities rely on simple text messages to just tell everyone in, say, an entire county to evacuate, with nary more detail.

The Camp Fire in California in 2018, the worst fire in California’s history, triggered her to go beyond interviewing public safety officers to building a solution. She graduated in spring 2019, and at the same time, founded Perimeter with fellow Berkeley grad Noah Wu.

Perimeter is an emergency response platform designed to “bridge the gap between agencies and citizens” in Farren’s words by offering better two-way communication centered on geospatial data.

The company announced today that it has raised a $1 million pre-seed round led by Parade Ventures with Dustin Dolginow, social-impact organization One World, and Alchemist Accelerator participating. Alchemist was the first money into the startup.

Using Perimeter, citizens can upload geospatial-tagged information such as a new fire outbreak or a tree that has fallen and is now blocking a road. “Sometimes citizens have the most accurate and real-time information, before first responders show up — we want citizens to share that with … government officials,” Farren said. That information is not immediately disseminated to the public though. Instead, first responders can vet the information, ensuring that citizens are always using accurate information in planning their actions. “We do not want it to be a social-media platform,” she explained.

In the other direction, operations centers can use Perimeter to send citizens accurate and detailed evacuation maps with routes on where to go. Unlike with just a text message, Perimeter will send both the message and a URL, which can then display maps and real-time information on how a disaster is progressing.

Right now, the platform is distributed as a web app, so that citizens don’t need to have it pre-installed when a disaster strikes. Farren noted that the company is working on native apps as well, particularly for first responders who need robust offline capabilities due to intermittent cell signals that are typical in disaster zones.

Farren and her team have interviewed emergency management agencies extensively, and she says that her first customer is Palo Alto’s Office of Emergency Services. Over the past two fire seasons, “we had an R&D focus in that we were building hand-in-hand with agencies … and we took two fire seasons to beta test our technology,” she said.

The company has four full-time employees working remotely, but all based in California.

12 Apr 2021

ntel’s Mobileye teams with Udelv to launch 35,000 driverless delivery vehicles by 2028

Intel subsidiary Mobileye is ratcheting up its autonomous vehicle ambitions and getting into delivery.

The company said Monday it struck a deal with Udelv to supply its self-driving system to thousands of purpose-built autonomous delivery vehicles. The companies said they plan to put more than 35,000 autonomous vehicles dubbed Transporters on city streets by 2028. Commercial operations are slated to begin in 2023.

Donlen, a U.S. commercial fleet leasing and management company, has made the first pre-order for 1,000 of these Udelv Transporters.

The announcement is notable for both companies. Udelv, which initially launched as an autonomous vehicle delivery startup, has opted to adopt Mobileye’s self-driving system and focus on “creating the hardware and software that allows for autonomous deliveries,” its CEO Daniel Laury said in an emailed statement to TechCrunch.

“This is a hardcore engineering problem to solve when one understands the multiplicity of goods to deliver, the variety of ways to do it, and some other intricately complex issues linked to the automation of last and middle mile deliveries,” Laury said. “By partnering with Mobileye, Udelv can focus 100% of its resources and efforts to perfecting the business application while Mobileye provides the tool to scale fast. It is a win-win situation.”

For Mobilieye it marks yet another expansion for a company that got its start as a developer of camera-based sensors, which are now used by most automakers to support advanced driver assistance systems. Today, more than 54 million vehicles have Mobileye technology.

“This is a great combination of the two partners together and we expect some great scale,” Jack Weast, a senior principal engineer at Intel and the Vice President of Automated Vehicle Standards at Mobileye, said in a recent interview. “And this does kind of mark, officially, the first proof point of Mobileye’s technology getting into goods delivery in addition to all the other spaces that we’ve already announced.”

The company, which was acquired by Intel for $15.3 billion in 2017, has widened its scope in recent years, moving beyond its advanced driver assistance technology and toward the development of a self-driving vehicle system. More than two years ago, Mobileye announced plans to launch a kit that includes visual perception, sensor fusion, its REM mapping system and software algorithms. And in 2018, the company made an unlikely turn and announced plans to become a robotaxi operator, not just a supplier. Mobileye also plans to deploy autonomous shuttles with Transdev ATS and Lohr Group beginning in Europe. Mobileye also plans to begin operating an autonomous ride-hailing service in Israel in early 2022.

This latest deal shows Mobileye’s ambition to see its self-driving systems used in other applications besides shuttling people.

The self-driving system, now branded as Mobilieye Drive, is made up of a system-on-chip based compute, redundant sensing subsystems based on camera, radar and lidar technology, its REM mapping system and a rules-based Responsibility-Sensitive Safety (RSS) driving policy. Mobileye’s REM mapping system essentially crowdsources data by tapping into more than 1 million vehicles equipped with its tech to build high-definition maps that can be used to support in ADAS and autonomous driving systems.

Udelv will work with Mobileye to integrate the self-driving technology with its own delivery management system. Mobileye will also provide over-the-air software support throughout the lifetime of the vehicles.

These purpose-built vehicles won’t have the typical mechanical features one might find in a human driven truck or delivery van. It will be designed to be capable of so-called Level 4 self-driving, a designation by SAE that means the vehicle can handle all operations without a human under certain conditions. It will also come with four-directional four-way steering, LED screens to great the people picking up the delivery and special compartments for goods.

There will be a teleoperations system that will allow for the maneuvering of the vehicles in parking lots, loading zones, apartment complexes and private roads, according to Udelv.

12 Apr 2021

Ride-hailing’s profitability promise is in its final countdown

After a short hiatus, The Exchange is back. We’ll spend part of this week digging into the global venture capital scene’s Q1 performance, but today, we’re kicking off with a quick dive into Uber, Lyft, Deliveroo and DoorDash — and the ability of on-demand companies of various stripes to generate profit.

Uber is our lodestone today because it dropped a new SEC filing that includes some notes on its recent performance. And, most critically, a piece of guidance for investors concerning its ability to make money this year.


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By “make money,” we don’t mean traditional net income on a GAAP — generally accepted accounting principles — basis. We mean Uber is providing its public investors with notes on its future adjusted profitability. Real profits are still somewhere out in the uncharted future.

So let’s parse Uber’s latest, vet its profit promise, consider its rivals and their performance, and then ask ourselves if the great ride-hailing and food-delivery booms will ever make back the money they cost to scale.

Uber’s planned profits

In 2019, Lyft told investors to expect positive adjusted EBITDA by the final quarter of 2021; at the time, Uber said it would generate full-year positive adjusted EBITDA. Those are slightly different (if related) promises. Later, Uber moved up its profitability promise to Q4 2020, but that was not to be.

After Uber changed up its profitability timeline, COVID-19 came. The pandemic forced the American ride-hailing company to revert to its previous adjusted profitability promises.

Uber and Lyft took huge revenue hits as their core ride-hailing businesses dried up faster than water on a Texas sidewalk after COVID-19 lockdowns took effect. In response, Uber fell back on its Uber Eats business, while Lyft had to get by without a second business line.

12 Apr 2021

EV automaker Rivian partners with Samsung SDI in battery cell supply deal

Rivian, the Amazon-backed EV manufacturer aiming to bring an electric pickup to market later this year, has partnered with Samsung SDI as its battery cell supplier, the company said Monday.

The two companies did not disclose the value of the deal or its term length, but in a statement released Monday Rivian said it had been working with Samsung SDI “throughout the vehicle development process.”

Rivian pointed out that its anticipated R1T pickup and R1S SUV, which Rivian calls “adventure vehicles,” require a battery module and pack that can handle extreme temperatures and durability use cases.

South Korea-based Samsung SDI already supplies battery cells to other automakers. In 2019, the company signed a $3.2 billion deal with BMW Group for a 10-year supply agreement.

“We’re excited about the performance and reliability of Samsung SDI battery cells combined with our energy-dense module and pack design,” Rivian CEO Rj Scaringe said in a statement. “Samsung SDI’s focus on innovation and responsible sourcing of battery materials aligns well with our vision.”

12 Apr 2021

Microsoft goes all in on healthcare with $19.7B Nuance acquisition

When Microsoft announced it was acquiring Nuance Communications this morning for $19.7 billion, you could be excused for doing a Monday morning double take at the hefty price tag.

That’s surely a lot of money for a company on a $1.4 billion run rate, but Microsoft, which has already partnered with the speech-to-text market leader on several products over the last couple of years, saw a company firmly embedded in healthcare and it decided to go all in.

And $20 billion is certainly all in, even for a company the size of Microsoft. But 2020 forced us to change the way we do business from restaurants to retailers to doctors. In fact, the pandemic in particular changed the way we interact with our medical providers. We learned very quickly that you don’t have to drive to an office, wait in waiting room, then in an exam room, all to see the doctor for a few minutes.

Instead, we can get on the line, have a quick chat and be on our way. It won’t work for every condition of course — there will always be times the physician needs to see you — but for many meetings such as reviewing test results or for talk therapy, telehealth could suffice.

Microsoft CEO Satya Nadella says that Nuance is at the center of this shift, especially with its use of cloud and artificial intelligence, and that’s why the company was willing to pay the amount it did to get it.

“AI is technology’s most important priority, and healthcare is its most urgent application. Together, with our partner ecosystem, we will put advanced AI solutions into the hands of professionals everywhere to drive better decision-making and create more meaningful connections, as we accelerate growth of Microsoft Cloud in Healthcare and Nuance,” Nadella said in a post announcing the deal.

Microsoft sees this deal doubling what was already a considerable total addressable market to nearly $500 billion. While TAMs always tend to run high, that is still a substantial number.

It also fits with Gartner data, which found that by 2022, 75% of healthcare organizations will have a formal cloud strategy in place. The AI component only adds to that number and Nuance brings 10,000 existing customers to Microsoft including some of the biggest healthcare organizations in the world.

Brent Leary, founder and principal analyst at CRM Essentials, says the deal could provide Microsoft with a ton of health data to help feed the underlying machine learning models and make them more accurate over time.

“There is going be a ton of health data being captured by the interactions coming through telemedicine interactions, and this could create a whole new level of health intelligence,” Leary told me.

That of course could drive a lot of privacy concerns where health data is involved, and it will be up to Microsoft, which just experienced a major breach on its Exchange email server products last month, to assure the public that their sensitive health data is being protected.

Leary says that ensuring data privacy is going to be absolutely key to the success of the deal. “The potential this move has is pretty powerful, but it will only be realized if the data and insights that could come from it are protected and secure — not only protected from hackers but also from unethical use. Either could derail what could be a game changing move,” he said.

Microsoft also seemed to recognize that when it wrote, “Nuance and Microsoft will deepen their existing commitments to the extended partner ecosystem, as well as the highest standards of data privacy, security and compliance.”

We are clearly on the edge of a sea change when it comes to how we interact with our medical providers in the future. COVID pushed medicine deeper into the digital realm in 2020 out of simple necessity. It wasn’t safe to go into the office unless absolutely necessary.

The Nuance acquisition, which is expected to close some time later this year, could help Microsoft shift deeper into the market. It could even bring Teams into it as a meeting tool, but it’s all going to depend on the trust level people have with this approach, and it will be up to the company to make sure that both healthcare providers and the people they serve have that.

12 Apr 2021

Equity Monday: Microsoft buys Nuance, Uber isn’t dead, and Austin has a new unicorn

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines.

This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. You can follow the show on Twitter here and myself here. It is good to be back!

There was a lot to get through, so, in order that we discussed the topics on the show, here’s our rundown:

Don’t forget that Coinbase is listing this week, yeah? Chat soon!

Equity drops every Monday at 7:00 a.m. PST, Wednesday, and Friday at 6:00 AM PST, so subscribe to us on Apple PodcastsOvercastSpotify and all the casts!

12 Apr 2021

Hardware is still hard in the Motor City

“It’s a little bit of a messy story,” Adam Leeb says with a laugh. The story that landed Astrohaus in Detroit on two separate occasions is a bit tangled, certainly. The hardwre startup’s cofounder and CEO isn’t the sort of hometown cheerleader you often encounter when speaking with executives who’ve opted to keep their organizations outside cities like San Francisco or New York.

Hailing from Detroit’s outer suburbs, Leeb cofounded the company in the Motor City in Fall 2014 with Patrick Paul. Astrohaus’s first – and best known – product was born as an attempt to offer users a “distraction-free writing experience.”

“I’m not even a writer,” Leeb says of the product’s inception. “What interests me about the product – what got me going – is yes, it’s about writing, but common among all of the things I’m interested in, is it’s more about process and productivity. That’s something I’m super passionate about. And making things easier that get out of your way and are really fun to use.”

Leeb, an MIT mechanical engineering graduate and Philips, a Michigan State graduate and software developer met through the Detroit startup community and got to work prototyping a word processing device that delivered the benefits of modern, without the sort of inherent distractions of computers and tablets that today’s writers know all too well.

The young company introduced itself to the world by way of Kickstarter, launching a campaign in 2014.

“The Hemingwrite combines the best features of all previous writing tools with the addition of modern technology,” the company wrote. “It is dedicated like a typewriter, has a better keyboard and battery life than your computer and is distraction free like a word processor. Finally, we sync your documents to the cloud in real-time so you never have to worry about saving, syncing or backing up your work.”

The product was greeted with excitement and some gentle-ribbing (and some not-so-gentle, including one review that called it “pretentious hipster nonsense”) over a $500 reinvention of the typewriter. The crowfunding community went wild, with nearly $350,000 raised. In June of 2015, the product was renamed.

“We are updating our brand with a more demonstrative name that also no longer ties us to the persona of a certain famous writer,” the company wrote in a June 2015 Kickstarter updated. Two months later, Astrohaus relocated to New York City.

“I was really itching to leave. I didn’t know how we were going to make it in Detroit,” Leeb says. “There’s not really a hardware scene and my connections were mostly in New York. I pushed Patrick – we had raised some money and gotten going, so I was like, ‘let’s move to New York.’ There’s definitely more of a hardware scene and we were definitely a part of it.”

Once again, life intervened. Philips left the company and Leeb married Kacee Must, a Detroit resident – and owner of local yoga chain, Citizen Yoga. In 2018, he found himself building Astrohaus up again in the city where it started life. Three years later, the team is still a fairly lean one, with five full time employees in Detroit and a more distributed team of contractors.

Leeb’s feelings about launching a hardware startup in Detroit are clearly mixed. He bemoans the difficult it recruiting and finding funding locally, while acknowledging a sense of local cheerleading one really finds in larger cities. “With these smaller ecosystems, you really get to know people everywhere,” he says. “Everyone is so accessible. As far as anywhere I’ve ever been, Detroit companies really cheer or each other. There’s so much Detroit pride.”

For all of the talk of returning manufacturing to Detroit, Leeb says he’s had little luck in his pursuit to get the Freewrite and subsequent products created in the U.S.

“There’s a whole other world of advanced manufacturing startups that definitely get a lot of benefits from being in a manufacturing hub,” he says. “I think for software companies and for us it’s not so beneficial. We make our goods in China, and I don’t see that changing any time soon. I have good relationships with our factories and I spend a lot of time in China. That’s what they’re geared toward. They make consumer electronics.”

Astrohaus' Freewrite Traveler on a table

Image Credits: Darrell Etherington

Leeb says he’s found the Andrew Yang-founded Venture for America nonprofit a useful source of hiring locally. In the years following Astrohaus’ launch, impressions of the city have changed radically from a depressed byproduct of rust belt boom and bust to a viable place to launch a business.

“The last 10 years, there’s a massive difference in the city,” Leeb says. “[Quicken Loans cofounder] Dan Gilbert almost single-handedly brought the city back. There are a lot of people who hate him, but the reality is that, while he wasn’t the billionaire in town, he’s the only one who heavily invested in Detroit. He consolidated all of his suburban offices and put them in downtown and he convinced all of these companies to do the same.”

The Covid-19 pandemic will no doubt continue to have repercussions, as remote work becomes the norm for many or most tech outlets. Though hardware startups will always have a compelling reason to keep things in close quarters, as companies develop and test products. For his part, Leeb says Astrohaus’ next device aims to address concerns about remote collaboration.

“I’m very aggressively starting to work on a new hardware product that is a collaboration and communication too,” he says. “It was a problem before, and now it’s such a widespread problem that I feel we’re lacking in certain communication. There’s a lot to be done there. I don’t feel as connected as we could be, even with the technology we have.”

12 Apr 2021

Dive into Detroit’s growing startup scene with TechCrunch’s Detroit City Spotlight and meetup

Don’t sleep on Detroit. The city that put America in motion is quickly growing into a startup hub with a wide variety of successes. From sneakers to mortgages to houseplants, companies are finding success in Southeast Michigan thanks to welcoming investors, access to amazing engineering talent, and a deep history of creating lasting businesses. Throughout the coming days, TechCrunch is going to publish additional stories from Detroit including interviews with local heros and promising startups.

StockX is leading the way as explained in this multi-part feature that explores the company’s founding, strategies, and future. Located in the heart of downtown Detroit, StockX is leaving a lasting mark on the city as the company marches towards an initial pubic offering.

The StockX EC-1 comprises four main articles numbering 11,700 words and a reading time of 47 minutes.

  • Part 1: Origin storyHow StockX became the stock market of hype” (2,500 words/10 minute reading time) — Investigates how StockX evolved from a basic aggregation of price data into the multibillion dollar juggernaut we see today.
  • Part 2: E-commerce authenticationAuthentication and StockX’s global arms race against fraudsters” (3,700 words/15 minute reading time) — A deeply nuanced analysis of StockX’s key product of authentication and the challenges of building a trusted market against an onslaught of scammers heavily incentivized to get a fake good sold.
  • Part 3: Competitive and consumer landscape Where StockX fits in the business of sneakers” (2,800 words/11 minute reading time) — Explores how the company connected buyers and sellers, as well as its long-term impact on both groups.
  • Part 4: Future and impact The consequences of scaling up sneaker culture” (2,700 words/11 minute reading time) — Looks at how StockX and the changes it has wrought have led to a massive change in the culture of sneakers and what that portends long term.

On Thursday, April 15, we’re hosting a small virtual meetup in Detroit featuring a pitch-off with local startups, interviews with local investors, and we’ll chat with the author of the StockX EC-1. This event is free. Register here. We hope you can join us to learn more about the modern Detroit

It’s important to note Detroit’s success trails a larger, more important ecosystem in Southeast Michigan. Ann Arbor is located 45 minutes away, and should not be pushed aside. This university town has long produced world-class companies and products. The majority of the VC funding in Michigan goes to Ann Arbor-based startups. There are advantages to both areas, though, and TechCrunch loves the cooperation between the two regions.