Author: azeeadmin

04 Feb 2021

Metalenz reimagines the camera in 2D and raises $10M to ship it

As impressive as the cameras in our smartphones are, they’re fundamentally limited by the physical necessities of lenses and sensors. Metalenz skips over that part with a camera made of a single “metasurface” that could save precious space and battery life in phones and other devices… and they’re about to ship it.

The concept is similar to, but not descended from, the “metamaterials” that gave rise to flat beam-forming radar and lidar of Lumotive and Echodyne. The idea is to take a complex 3D structure and accomplish what it does using a precisely engineered “2D” surface — not actually two-dimensional, of course, but usually a plane with features measured in microns.

In the case of a camera, the main components are of course a lens (these days it’s usually several stacked), which corrals the light, and an image sensor, which senses and measures that light. The problem faced by cameras now, particularly in smartphones, is that the lenses can’t be made much smaller without seriously affecting the clarity of the image. Likewise sensors are nearly at the limit of how much light they can work with. Consequently most of the photography advancements of the last few years have been done on the computational side.

Using an engineered surface that does away with the need for complex optics and other camera systems has been a goal for years. Back in 2016 I wrote about a NASA project that took inspiration from moth eyes to create a 2D camera of sorts. It’s harder than it sounds, though — usable imagery has been generated in labs, but it’s not the kind of thing that you take to Apple or Samsung.

Metalenz aims to change that. The company’s tech is built on the work of Harvard’s Frederico Capasso, who has been publishing on the science behind metasurfaces for years. He and Rob Devlin, who did his doctorate work in Capasso’s lab, co-founded the company to commercialize their efforts.

“Early demos were extremely inefficient,” said Devlin of the field’s first entrants. “You had light scattering all over the place, the materials and processes were non-standard, the designs weren’t able to handle the demands that a real world throws at you. Making one that works and publishing a paper on it is one thing, making 10 million and making sure they all do the same thing is another.”

Their breakthrough — if years of hard work and research can be called that — is the ability not just to make a metasurface camera that produces decent images, but to do it without exotic components or manufacturing processes.

“We’re really using all standard semiconductor processes and materials here, the exact same equipment — but with lenses instead of electronics,” said Devlin. “We can already make a million lenses a day with our foundry partners.”

Diagram comparing the multi-lens barrel of a conventional phone camera, and their simpler "meta-optic"

The thing at the bottom is the chip where the image processor and logic would be, but the meta-optic could also integrate with that. the top is a pinhole.

The first challenge is more or less contained in the fact that incoming light, without lenses to bend and direct it, hits the metasurface in a much more chaotic way. Devlin’s own PhD work was concerned with taming this chaos.

“Light on a macro [i.e. conventional scale, not close-focusing] lens is controlled on the macro scale, you’re relying on the curvature to bend the light. There’s only so much you can do with it,” he explained. “But here you have features a thousand times smaller than a human hair, which gives us very fine control over the light that hits the lens.”

Those features, as you can see in this extreme close-up of the metasurface, are precisely tuned cylinders, “almost like little nano-scale Coke cans,” Devlin suggested. Like other metamaterials, these structures, far smaller than a visible or near-infrared light ray’s wavelength, manipulate the radiation by means that take a few years of study to understand.

Diagram showing chips being manufactured, then an extreme close up showing nano-scale features.The result is a camera with extremely small proportions and vastly less complexity than the compact camera stacks found in consumer and industrial devices. To be clear, Metalenz isn’t looking to replace the main camera on your iPhone — for conventional photography purposes the conventional lens and sensor are still the way to go. But there are other applications that play to the chip-style lens’s strengths.

Something like the FaceID assembly, for instance, presents an opportunity. “That module is a very complex one for the cell phone world — it’s almost like a Rube Goldberg machine,” said Devlin. Likewise the miniature lidar sensor.

At this scale, the priorities are different, and by subtracting the lens from the equation the amount of light that reaches the sensor is significantly increased. That means it can potentially be smaller in every dimension while performing better and drawing less power.

Image (of a very small test board) from a traditional camera, left, and metasurface camera, right. Beyond the vignetting it’s not really easy to tell what’s different, which is kind of the point.

Lest you think this is still a lab-bound “wouldn’t it be nice if” type device, Metalenz is well on its way to commercial availability. The $10M round A they just raised was led by 3M Ventures, Applied Ventures LLC, Intel Capital, M Ventures and TDK Ventures, along with Tsingyuan Ventures and Braemar Energy Ventures — a lot of suppliers in there.

Unlike many other hardware startups, Metalenz isn’t starting with a short run of boutique demo devices but going big out of the gate.

“Because we’re using traditional fabrication techniques, it allows us to scale really quickly. We’re not building factories or foundries, we don’t have to raise hundreds of mils; we can use whats already there,” said Devlin. “But it means we have to look at applications that are high volume. We need the units to be in that tens of millions range for our foundry partners to see it making sense.”

Although Devlin declined to get specific, he did say that their first partner is “active in 3D sensing” and that a consumer device, though not a phone, would be shipping with Metalenz cameras in early 2022 — and later in 2022 will see a phone-based solution shipping as well.

In other words, while Metalenz is indeed a startup just coming out of stealth and raising its A round… it already has shipments planned on the order of tens of millions. The $10M isn’t a bridge to commercial viability but short term cash to hire and cover up-front costs associated with such a serious endeavor. It’s doubtful anyone on that list of investors harbors any serious doubts on ROI.

The 3D sensing thing is Metalenz’s first major application, but the company is already working on others. The potential to reduce complex lab equipment to handheld electronics that can be fielded easily is one, and improving the benchtop versions of tools with more light-gathering ability or quicker operation is another.

Though a device you use may in a few years have a Metalenz component in it, it’s likely you won’t know — the phone manufacturer will probably take all the credit for the improved performance or slimmer form factor. Nevertheless, it may show up in teardowns and bills of material, at which point you’ll know this particular university spin-out has made it to the big leagues.

04 Feb 2021

Andreessen Horowitz could make the carbon offset API Patch its latest climate bet

The early-stage carbon offset API developer, Patch, could be another one of Andreessen Horowitz’s early bets on climate tech.

According to several people with knowledge of the investment round, former OpenTable chief executive and current Andreessen Horowitz partner Jeff Jordan is looking at leading the young company’s latest financing.

Such an investment would be a win for Patch, which could benefit from Andreessen Horowitz’s marketing muscle in a space that’s becoming increasingly crowded. And, if the deal goes through, it could be an indicator of more to come from one of the venture industry’s most (socially) active investors.

Companies like Pachama, Cloverly, Carbon Interface, and Cooler.dev all have similar API offerings, but the market for these types of services will likely expand as more companies try to do the least amount of work possible to become carbon neutral through offsetting. A growing market could generate space for more than one venture-backed winner.

Neither Patch’s co-founders nor Andreessen Horowitz responded to a request for comment about the funding.

One concern with services like Patch is that its customers will look at offsetting as their final destination instead of a step on the road to removing carbon emissions from business operations. To fix our climate crisis will take more work.

Founded by Brennan Spellacy and Aaron Grunfeld, two former employees at the apartment rental service Sonder, Patch raised its initial financing from VersionOne Ventures back in September.

Around 15 to twenty companies that are using the service now, according to people familiar with the company’s operations.

The company has an API that can calculate a company’s emissions footprint based on an integration with their ERP system and then invests money into offset projects that are designed to remove an equivalent amount of carbon dioxide.

While services like Pachama privilege lower-cost sequestration solutions like reforestation and forest management, Patch offers an array of potential investment opportunities for offsets. And the company tries to nudge its customers to some of the more expensive, high technology options in an effort to bring down costs for emerging technologies, said one person familiar with the company’s plans.

Like other services automating offsetting, Patch evaluates projects based on their additionality (how much additional carbon they’re removing over an already established baseline), permanence (how long the carbon emissions will be sequestered) and verifiability.

And, as the company’s founders note in their own statement about the company’s service, it’s not intended to be the only solution that customers deploy.

“The majority of climate models indicate that we need to reduce our emissions globally, while also removing carbon dioxide from the atmosphere,” the founders wrote in a Medium post. “We take care of a company’s carbon removal goals, while they focus their efforts on reducing emissions, a more proprietary task that requires intimate operational knowledge. Patch complements this behavioral shift and gives us a real chance to mitigate climate change.”

VersionOne’s Angela Tran addressed any concerns about the defensibility of Patch’s technology in her own September announcement.

“We also believe that defensibility comes with the aggregation and “digitization” of quality supply. When we view Patch as a marketplace, we believe that businesses (demand) care about the type of projects (supply) they purchase to neutralize their emissions,” Tran wrote. “For example, a company might choose their sustainability legacy to be linked with forestry or mineralization projects. Patch is partnering with the best carbon removal developers and the latest negative emission technologies to build a network of low-cost, impactful projects.”

While Patch is explicitly focused on climate change, Andreessen has made a few early investments in a broad sustainability thesis. The firm led a $9 million investment into Silo last year and backed KoBold Metals back in 2019.

Silo has developed an enterprise resource planning tool for perishable food supply chains. Currently focused on wholesale produce, Silo said in a statement last year that it would be extending its services to meat, dairy and pantry items over the next year.

“The market potential for an innovator like Silo to reduce waste and improve margins is enormous and we’re excited to support its efforts as the system of record for food distribution in the United States,” said Anish Acharya, General Partner at Andreessen Horowitz, in a statement at the time. “Silo is well-positioned to scale beyond the west coast to help more customers modernize and transition their operations from pen and paper to software.”

Meanwhile, KoBold is a software developer that uses machine learning and big data processing technologies to find new prospects for the precious metals that companies need to make new batteries and renewable energy generation technologies.

“By building a digital prospecting engine — full stack, from scratch — using computer vision, machine learning, and sophisticated data analysis not currently available to the industry, KoBold’s software combines previously unavailable, dark data with conventional geochemical, geophysical, and geological data to identify prospects in models that can only get better over time, as with other data network effects,” wrote Connie Chan in a blog post at the time.

Taken together, these investments coalesce into a picture of how Andreessen Horowitz and its pool of $16.5 billion in assets under management may approach the renewables industry.

04 Feb 2021

Andreessen Horowitz could make the carbon offset API Patch its latest climate bet

The early-stage carbon offset API developer, Patch, could be another one of Andreessen Horowitz’s early bets on climate tech.

According to several people with knowledge of the investment round, former OpenTable chief executive and current Andreessen Horowitz partner Jeff Jordan is looking at leading the young company’s latest financing.

Such an investment would be a win for Patch, which could benefit from Andreessen Horowitz’s marketing muscle in a space that’s becoming increasingly crowded. And, if the deal goes through, it could be an indicator of more to come from one of the venture industry’s most (socially) active investors.

Companies like Pachama, Cloverly, Carbon Interface, and Cooler.dev all have similar API offerings, but the market for these types of services will likely expand as more companies try to do the least amount of work possible to become carbon neutral through offsetting. A growing market could generate space for more than one venture-backed winner.

Neither Patch’s co-founders nor Andreessen Horowitz responded to a request for comment about the funding.

One concern with services like Patch is that its customers will look at offsetting as their final destination instead of a step on the road to removing carbon emissions from business operations. To fix our climate crisis will take more work.

Founded by Brennan Spellacy and Aaron Grunfeld, two former employees at the apartment rental service Sonder, Patch raised its initial financing from VersionOne Ventures back in September.

Around 15 to twenty companies that are using the service now, according to people familiar with the company’s operations.

The company has an API that can calculate a company’s emissions footprint based on an integration with their ERP system and then invests money into offset projects that are designed to remove an equivalent amount of carbon dioxide.

While services like Pachama privilege lower-cost sequestration solutions like reforestation and forest management, Patch offers an array of potential investment opportunities for offsets. And the company tries to nudge its customers to some of the more expensive, high technology options in an effort to bring down costs for emerging technologies, said one person familiar with the company’s plans.

Like other services automating offsetting, Patch evaluates projects based on their additionality (how much additional carbon they’re removing over an already established baseline), permanence (how long the carbon emissions will be sequestered) and verifiability.

And, as the company’s founders note in their own statement about the company’s service, it’s not intended to be the only solution that customers deploy.

“The majority of climate models indicate that we need to reduce our emissions globally, while also removing carbon dioxide from the atmosphere,” the founders wrote in a Medium post. “We take care of a company’s carbon removal goals, while they focus their efforts on reducing emissions, a more proprietary task that requires intimate operational knowledge. Patch complements this behavioral shift and gives us a real chance to mitigate climate change.”

VersionOne’s Angela Tran addressed any concerns about the defensibility of Patch’s technology in her own September announcement.

“We also believe that defensibility comes with the aggregation and “digitization” of quality supply. When we view Patch as a marketplace, we believe that businesses (demand) care about the type of projects (supply) they purchase to neutralize their emissions,” Tran wrote. “For example, a company might choose their sustainability legacy to be linked with forestry or mineralization projects. Patch is partnering with the best carbon removal developers and the latest negative emission technologies to build a network of low-cost, impactful projects.”

While Patch is explicitly focused on climate change, Andreessen has made a few early investments in a broad sustainability thesis. The firm led a $9 million investment into Silo last year and backed KoBold Metals back in 2019.

Silo has developed an enterprise resource planning tool for perishable food supply chains. Currently focused on wholesale produce, Silo said in a statement last year that it would be extending its services to meat, dairy and pantry items over the next year.

“The market potential for an innovator like Silo to reduce waste and improve margins is enormous and we’re excited to support its efforts as the system of record for food distribution in the United States,” said Anish Acharya, General Partner at Andreessen Horowitz, in a statement at the time. “Silo is well-positioned to scale beyond the west coast to help more customers modernize and transition their operations from pen and paper to software.”

Meanwhile, KoBold is a software developer that uses machine learning and big data processing technologies to find new prospects for the precious metals that companies need to make new batteries and renewable energy generation technologies.

“By building a digital prospecting engine — full stack, from scratch — using computer vision, machine learning, and sophisticated data analysis not currently available to the industry, KoBold’s software combines previously unavailable, dark data with conventional geochemical, geophysical, and geological data to identify prospects in models that can only get better over time, as with other data network effects,” wrote Connie Chan in a blog post at the time.

Taken together, these investments coalesce into a picture of how Andreessen Horowitz and its pool of $16.5 billion in assets under management may approach the renewables industry.

04 Feb 2021

Google Cloud launches Apigee X, the next generation of its API management platform

Google today announced the launch of Apigee X, the next major release of the Apgiee API management platform it acquired back in 2016.

“If you look at what’s happening — especially after the pandemic started in March last year — the volume of digital activities has gone up in every kind of industry, all kinds of use cases are coming up. And one of the things we see is the need for a really high-performance, reliable, global digital transformation platform,” Amit Zavery, Google Cloud’s head of platform, told me.

He noted that the number of API calls has gone up 47 percent from last year and that the platform now handles about 2.2 trillion API calls per year.

At the core of the updates are deeper integrations with Google Cloud’s AI, security and networking tools. In practice, this means Apigee users can now deploy their APIs across 24 Google Cloud regions, for example, and use Google’s caching services in more than 100 edge locations.

Image Credits: Google

In addition, Apigee X now integrates with Google’s Cloud Armor firewall and its Cloud Identity Access Management platform. This also means that Apigee users won’t have to use third-party tools for their firewall and identity management needs.

“We do a lot of AI/ML-based anomaly detection and operations management,” Zavery explained. “We can predict any kind of malicious intent or any other things which might happen to those API calls or your traffic by embedding a lot of those insights into our API platform. I think [that] is a big improvement, as well as new features, especially in operations management, security management, vulnerability management and making those a core capability so that as a business, you don’t have to worry about all these things. It comes with the core capabilities and that is really where the front doors of digital front-ends can shine and customers can focus on that.”

The platform now also makes better use of Google’s AI capabilities to help users identify anomalies or predict traffic for peak seasons. The idea here is to help customers automate a lot of the standards automation tasks and, of course, improve security at the same time.

As Zavery stressed, API management is now about more than just managing traffic between applications. But more than just helping customers manage their digital transformation projects, the Apigee team is now thinking about what it calls ‘digital excellence.’ “That’s how we’re thinking of the journey for customers moving from not just ‘hey, I can have a front end,’ but what about all the excellent things you want to do and how we can do that,” Zavery said.

“During these uncertain times, organizations worldwide are doubling-down on their API strategies to operate anywhere, automate processes, and deliver new digital experiences quickly and securely,” said James Fairweather, Chief Innovation Officer at Pitney Bowes. “By powering APIs with new capabilities like reCAPTCHA Enterprise, Cloud Armor (WAF), and Cloud CDN, Apigee X makes it easy for enterprises like us to scale digital initiatives, and deliver innovative experiences to our customers, employees and partners.”

04 Feb 2021

HubSpot acquires media startup The Hustle

Marketing software company HubSpot is acquiring The Hustle, the business and tech media startup behind the popular newsletter of the same name

Axios broke the news of the deal and reported that it values the startup at around $27 million. HubSpot declined to comment on the deal price, and while tweeting about the acquisition, The Hustle CEO Sam Parr wrote, “Early in my career I was transparent with money. But I didn’t like the result of sharing that stuff. So we’re not disclosing the price and HubSpot has agreed. I’m taking it to the grave!”

In its press release about the acquisition, HubSpot noted that customers are finding its products through content like its YouTube videos and HubSpot Academy.

“By acquiring The Hustle, we’ll be able to better meet the needs of these scaling companies by delivering educational, business, and tech trend content in their preferred formats,” said HubSpot’s senior vice president of marketing Kieran Flanagan in a statement. “Sam and his team have a proven ability to create content that entrepreneurs, startups, and scaling companies are deeply passionate about, and I’m excited to bring them on board to take that work to the next level.”

HubSpot says The Hustle’s flagship newsletter has 1.5 million subscribers. It also has a subscription offering called Trends and a podcast called My First Million.

“The goal is to build the largest business content network in the world,” Parr tweeted. “Soon, we’ll expand to a variety of mediums on a bunch of different topics and will have really innovative products coming out. We’re also going to hire the best content creators in the world.”

04 Feb 2021

Accel backs Mexican startup Flink’s effort to bring consumer investing to Latin America

Here in the U.S., we take for granted the ability to invest and trade in the stock market. So while we can get in an uproar about the various ways Robinhood may or may not be acting responsibly, it can be easy to forget that not everyone in the world has the same access to potentially making — or losing — money via trading as we do.

For Mexico City-born Sergio Jiménez Amozurrutia, the fact that in his country of more than 120 million people, only a tiny fraction of the population have the ability to invest in the capital markets just didn’t seem right. To him, the lack of widespread participation in investing is an example of the rich getting richer as part of an infrastructure “that is built for the wealthy.” The result of the imbalance is that a lot of people are locked out of making potentially wealth-building investments.  

So after selling Easy Credit, a consumer lending platform he’d built with Rick Rafael Bueno (whom he met in 2015 at a hackathon at Tech de Monterrey), Amozurrutia set out to give Mexicans access to something he believed they’d never had access to: an app-based consumer trading platform.

That platform, called Flink, attracted the attention of Silicon Valley-based venture capital firm Accel, which just led a $12 million Series A for the company. Mexico’s ALLVP, Clocktower, Kevin Efrusy and Oskar Hjertonsson and existing backer Raptor Financial Group participated in the financing as well.

The demand for what Flink has to offer is clear. Since launching its first brokerage product in July of 2020, Flink has surpassed 1 million users and 800,000 active brokerage accounts. This makes Flink the largest retail brokerage service in Mexico, according to Amozurrutia. It averages 6,000 new customers a day, mostly due to word of mouth, the company said. And, the app was recently ranked in the top 10 of all apps downloaded in Mexico via Google Play, surpassing Spotify and Facebook app downloads, according to Amozurrutia.

“Most legacy Mexican banks cater to less than 1% of the population — meaning most Mexicans don’t have a bank account, let alone a brokerage account,” he said. “At Flink, we’re guided by the belief that Mexico’s financial system should work for everyone — not only a select few.”

The fact that Latin Americans are underbanked is not new news. In Mexico in particular, there are far fewer banks than the thousands the U.S. is home to. Those banks, Amozurrutia believes, make it challenging for most people to make investments by charging high fees, among other barriers to entry, such as large minimum deposits.

“Also, here in Mexico, the population is not that sophisticated like in the U.S. in terms of investing in the markets,” he told TechCrunch. “The banks and incumbents take advantage of that and make people feel like they’re not smart enough to manage their money. They say, ‘Give me your money and I’ll invest it and charge you fees.’ ”

Flink is out to not only give Mexicans a way to invest, but to help educate them as well. Ninety percent of its users are first-time investors, and many are millennials.

“When you compare this kind of product with Robinhood or Acorns for example, the difference with us is that we need to be even more responsible with the kind of information and access we are trying to provide,” Amozurrutia said. “We need to educate on a basic level.”

Image: Flink

Flink has also built a community around the product so that people can share ideas and try to help each other, including a Facebook group made up of more than 35,000 people.  

For Accel partner Andrew Braccia (who was also an early investor in Slack), the most interesting thing about Flink is that in many ways it is “creating a market,” rather than building an offering in an already large and sophisticated market.

“A high percentage of customers are a younger demographic that has never invested before, and never had the tools or opportunity to use a product like Flink,” Braccia said. “It’s a responsibility we take very seriously so we’re trying to make sure there’s a tremendous amount of education and transparency in the process.”

He also believes Flink’s story and the larger opportunity of what’s happening in Mexico “is one centered around accessibility and hope.”

Demand for Flink’s product is not only coming from Mexico, but from other Latin American countries such as Colombia, Chile, Peru and Argentina.

Flink can’t yet enter those markets due to regulatory constraints, but getting licenses to do business in Latin American countries is something the company plans to use some of its new capital to do.

“When you try to understand the deeper issues around financial services in Latin America,” Amozurrutia said, “you will see the status quo is really similar.”

Accel’s Braccia agrees.

Flink, he believes, has already created a level playing field for those who want to participate in investing in Mexico.

“The fact that the vast majority of their users are first-time participants in the stock market speaks to the significance of their vision of financial accessibility—a vision that we believe will continue to resonate with other markets throughout Latin America,” Braccia told TechCrunch.

Flink also plans to use its funding in part to continue improving the user experience and product offering, as well as to add to its current headcount of 60 to be able to meet rising demand.

“Our goal is to get to 4 million users by the end of 2021,” Amozurrutia said.

Meanwhile, backing Flink fits into Accel’s overall investment thesis. The firm has also put money in other fintechs globally, such as France’s Lydia, London-based Monzo and WorldRemit, Galileo and Braintree/Venmo, among others.

04 Feb 2021

Accel backs Mexican startup Flink’s effort to bring consumer investing to Latin America

Here in the U.S., we take for granted the ability to invest and trade in the stock market. So while we can get in an uproar about the various ways Robinhood may or may not be acting responsibly, it can be easy to forget that not everyone in the world has the same access to potentially making — or losing — money via trading as we do.

For Mexico City-born Sergio Jiménez Amozurrutia, the fact that in his country of more than 120 million people, only a tiny fraction of the population have the ability to invest in the capital markets just didn’t seem right. To him, the lack of widespread participation in investing is an example of the rich getting richer as part of an infrastructure “that is built for the wealthy.” The result of the imbalance is that a lot of people are locked out of making potentially wealth-building investments.  

So after selling Easy Credit, a consumer lending platform he’d built with Rick Rafael Bueno (whom he met in 2015 at a hackathon at Tech de Monterrey), Amozurrutia set out to give Mexicans access to something he believed they’d never had access to: an app-based consumer trading platform.

That platform, called Flink, attracted the attention of Silicon Valley-based venture capital firm Accel, which just led a $12 million Series A for the company. Mexico’s ALLVP, Clocktower, Kevin Efrusy and Oskar Hjertonsson and existing backer Raptor Financial Group participated in the financing as well.

The demand for what Flink has to offer is clear. Since launching its first brokerage product in July of 2020, Flink has surpassed 1 million users and 800,000 active brokerage accounts. This makes Flink the largest retail brokerage service in Mexico, according to Amozurrutia. It averages 6,000 new customers a day, mostly due to word of mouth, the company said. And, the app was recently ranked in the top 10 of all apps downloaded in Mexico via Google Play, surpassing Spotify and Facebook app downloads, according to Amozurrutia.

“Most legacy Mexican banks cater to less than 1% of the population — meaning most Mexicans don’t have a bank account, let alone a brokerage account,” he said. “At Flink, we’re guided by the belief that Mexico’s financial system should work for everyone — not only a select few.”

The fact that Latin Americans are underbanked is not new news. In Mexico in particular, there are far fewer banks than the thousands the U.S. is home to. Those banks, Amozurrutia believes, make it challenging for most people to make investments by charging high fees, among other barriers to entry, such as large minimum deposits.

“Also, here in Mexico, the population is not that sophisticated like in the U.S. in terms of investing in the markets,” he told TechCrunch. “The banks and incumbents take advantage of that and make people feel like they’re not smart enough to manage their money. They say, ‘Give me your money and I’ll invest it and charge you fees.’ ”

Flink is out to not only give Mexicans a way to invest, but to help educate them as well. Ninety percent of its users are first-time investors, and many are millennials.

“When you compare this kind of product with Robinhood or Acorns for example, the difference with us is that we need to be even more responsible with the kind of information and access we are trying to provide,” Amozurrutia said. “We need to educate on a basic level.”

Image: Flink

Flink has also built a community around the product so that people can share ideas and try to help each other, including a Facebook group made up of more than 35,000 people.  

For Accel partner Andrew Braccia (who was also an early investor in Slack), the most interesting thing about Flink is that in many ways it is “creating a market,” rather than building an offering in an already large and sophisticated market.

“A high percentage of customers are a younger demographic that has never invested before, and never had the tools or opportunity to use a product like Flink,” Braccia said. “It’s a responsibility we take very seriously so we’re trying to make sure there’s a tremendous amount of education and transparency in the process.”

He also believes Flink’s story and the larger opportunity of what’s happening in Mexico “is one centered around accessibility and hope.”

Demand for Flink’s product is not only coming from Mexico, but from other Latin American countries such as Colombia, Chile, Peru and Argentina.

Flink can’t yet enter those markets due to regulatory constraints, but getting licenses to do business in Latin American countries is something the company plans to use some of its new capital to do.

“When you try to understand the deeper issues around financial services in Latin America,” Amozurrutia said, “you will see the status quo is really similar.”

Accel’s Braccia agrees.

Flink, he believes, has already created a level playing field for those who want to participate in investing in Mexico.

“The fact that the vast majority of their users are first-time participants in the stock market speaks to the significance of their vision of financial accessibility—a vision that we believe will continue to resonate with other markets throughout Latin America,” Braccia told TechCrunch.

Flink also plans to use its funding in part to continue improving the user experience and product offering, as well as to add to its current headcount of 60 to be able to meet rising demand.

“Our goal is to get to 4 million users by the end of 2021,” Amozurrutia said.

Meanwhile, backing Flink fits into Accel’s overall investment thesis. The firm has also put money in other fintechs globally, such as France’s Lydia, London-based Monzo and WorldRemit, Galileo and Braintree/Venmo, among others.

04 Feb 2021

Google to offer heart and respiratory rate measurements using just your smartphone’s camera

Google is introducing features that will allow users to take vital health measurements using just the camera they already have on their smartphone, expanding health and fitness features typically only available on dedicated wearables to a whole new group of people. Beginning next month, and available initially on Google Pixel phones exclusively (but with plans to offer it for other Android devices in future), users will be able to measure both their heart rate and their respiratory rate using just their device’s camera.

Typically, taking these measurements has required specialized hardware, including red or green light-based heart rate monitors like those found on the Apple Watch or on fitness trackers like those made by Google-acquired Fitbit. Google’s hardware and software teams, including the Google Health unit led by Director of Health Technologies Shwetak Patel, have managed to develop computer vision-based methods for taking these measurements using only smartphone cameras, which it says can produce results that are comparable to clinical-grade measurement hardware (it has produced a study to validate these results, which it’s making available in pre-print format while it seeks peer review through an academic journal).

For respiratory rate, the technology relies on a technique known as ‘optical flow,’ which monitors movements in a person’s chest as they breathe and uses that to determine their breathing rate. In its clinical validation study, which covered both typical individuals in good health, and people with existing respiratory conditions, Google’s data indicates that it’s accurate to within 1 breath per minute across all participants.

For heart rate, Google is initially using the camera to detect “subtle color changes” in a user’s finger tip, which provide an indicator about when oxygenated blood flows from your heart through to the rest of your body. The company’s validation data (again, still subject to external review) has shown accuracy within 2% margin of error, on average, across people with a range of different skin types. Google is also working on making this same technology work using color changes in a person’s face, it says, though that work is still in the exploratory phase.

Google is going to make these measurement features available to users within the next month, it says, via the Google Fit app, and initially on currently available Pixel devices made by the company itself. The plan is then to expand the features to different Android devices running Android 6 or later, sometime “in the coming months.”

Image Credits: Google

“My team has been working on ways that we can unlock the potential of everyday smart devices,” Patel said in a press briefing regarding the new features. This would include smart devices in the home, or a mobile phone, and how we leverage the sensors that are starting to become more and more ubiquitous within those devices, to support health and wellness.”

Patel, who is also a computer science professor at the University of Washington and who has been recognized with an ACM Prize in Computing Award for his work in digital health, said that the availability of powerful sensors in ubiquitous consumer devices, combined with advances in AI, have meant that daily health monitoring can be much more accessible than ever before.

“I really think that’s going to be a really important area moving forward given that if you think about health care, the journey just doesn’t end at the hospital, the four walls of the hospital,” he said. “It’s really this continuous journey, as you’re living your daily life, and being able to give you feedback and be able to measure your general wellness is an important thing.”

It’s worth noting that Google is explicit about these features being intended for use in a person’s own tracking of their general wellbeing – meaning it’s not meant as a diagnostic or medical tool. That’s pretty standard for these kinds of features, since few of these companies want to take of the task of getting full FDA medical-grade device certification for tools that are meant for general consumer use. To that end, Google Fit also doesn’t provide any guidance or advise based on the results of these measurements; instead, the app provides a general disclaimer that the results aren’t intended for medical use, and also offers up some very high-level description of why you’d even want to track these stats at all.

Many of the existing dedicated wellness and health tracking products on the market, like the Oura ring, for instance, provide more guidance and actionable insight based on the measurements it takes. Google seems intent on steering well clear of that line with these features, instead leaving the use of this information fully within the hands of users. That said, it could be a valuable resource to share with your physician, particularly if you’re concerned about potential health issues already, in place of other less convenient and available continuous health monitoring.

Patel said that Google is interested in potentially exploring how sensor fusion could further enhance tracking capabilities on existing devices, and in response to a question about potentially offering this on iPhones, he said that while the focus is currently on Android, they ultimate goal is indeed to get it “to as many people as possible.”

04 Feb 2021

Google to offer heart and respiratory rate measurements using just your smartphone’s camera

Google is introducing features that will allow users to take vital health measurements using just the camera they already have on their smartphone, expanding health and fitness features typically only available on dedicated wearables to a whole new group of people. Beginning next month, and available initially on Google Pixel phones exclusively (but with plans to offer it for other Android devices in future), users will be able to measure both their heart rate and their respiratory rate using just their device’s camera.

Typically, taking these measurements has required specialized hardware, including red or green light-based heart rate monitors like those found on the Apple Watch or on fitness trackers like those made by Google-acquired Fitbit. Google’s hardware and software teams, including the Google Health unit led by Director of Health Technologies Shwetak Patel, have managed to develop computer vision-based methods for taking these measurements using only smartphone cameras, which it says can produce results that are comparable to clinical-grade measurement hardware (it has produced a study to validate these results, which it’s making available in pre-print format while it seeks peer review through an academic journal).

For respiratory rate, the technology relies on a technique known as ‘optical flow,’ which monitors movements in a person’s chest as they breathe and uses that to determine their breathing rate. In its clinical validation study, which covered both typical individuals in good health, and people with existing respiratory conditions, Google’s data indicates that it’s accurate to within 1 breath per minute across all participants.

For heart rate, Google is initially using the camera to detect “subtle color changes” in a user’s finger tip, which provide an indicator about when oxygenated blood flows from your heart through to the rest of your body. The company’s validation data (again, still subject to external review) has shown accuracy within 2% margin of error, on average, across people with a range of different skin types. Google is also working on making this same technology work using color changes in a person’s face, it says, though that work is still in the exploratory phase.

Google is going to make these measurement features available to users within the next month, it says, via the Google Fit app, and initially on currently available Pixel devices made by the company itself. The plan is then to expand the features to different Android devices running Android 6 or later, sometime “in the coming months.”

Image Credits: Google

“My team has been working on ways that we can unlock the potential of everyday smart devices,” Patel said in a press briefing regarding the new features. This would include smart devices in the home, or a mobile phone, and how we leverage the sensors that are starting to become more and more ubiquitous within those devices, to support health and wellness.”

Patel, who is also a computer science professor at the University of Washington and who has been recognized with an ACM Prize in Computing Award for his work in digital health, said that the availability of powerful sensors in ubiquitous consumer devices, combined with advances in AI, have meant that daily health monitoring can be much more accessible than ever before.

“I really think that’s going to be a really important area moving forward given that if you think about health care, the journey just doesn’t end at the hospital, the four walls of the hospital,” he said. “It’s really this continuous journey, as you’re living your daily life, and being able to give you feedback and be able to measure your general wellness is an important thing.”

It’s worth noting that Google is explicit about these features being intended for use in a person’s own tracking of their general wellbeing – meaning it’s not meant as a diagnostic or medical tool. That’s pretty standard for these kinds of features, since few of these companies want to take of the task of getting full FDA medical-grade device certification for tools that are meant for general consumer use. To that end, Google Fit also doesn’t provide any guidance or advise based on the results of these measurements; instead, the app provides a general disclaimer that the results aren’t intended for medical use, and also offers up some very high-level description of why you’d even want to track these stats at all.

Many of the existing dedicated wellness and health tracking products on the market, like the Oura ring, for instance, provide more guidance and actionable insight based on the measurements it takes. Google seems intent on steering well clear of that line with these features, instead leaving the use of this information fully within the hands of users. That said, it could be a valuable resource to share with your physician, particularly if you’re concerned about potential health issues already, in place of other less convenient and available continuous health monitoring.

Patel said that Google is interested in potentially exploring how sensor fusion could further enhance tracking capabilities on existing devices, and in response to a question about potentially offering this on iPhones, he said that while the focus is currently on Android, they ultimate goal is indeed to get it “to as many people as possible.”

04 Feb 2021

Class adds $30 million to its balance sheet for a Zoom-friendly edtech solution

Class, launched less than a year ago by Blackboard co-founder Michael Chasen, integrates exclusively with Zoom to offer a more customized classroom for students and teachers alike. The inaugural product, Class for Zoom, uses both management and instruction tools to bolster the video conferencing call experience.

Formerly named ClassEDU, the startup announced today that it has added $30 million to its balance sheet, upping its total funding secured to $46 million. Raising that much pre-launch gives the startup key wiggle room, but it also gives validation: a number of Zoom’s earliest investors, including Emergence Capital and Bill Tai, who wrote the first check into Zoom, have put money into Class.

The money will be used to grow Class’ 60-person team to 100, as well as meet international demand for its product. More than 6,000 institutions from the United States, Dubai, Japan and Europe are on Class’ waitlist.

On the instruction side, Class for Zoom helps teachers launch live assignments, quizzes and tests, which can be completed by students in real time. On the management side, tools range from attendance trackers to features that allow a teacher to see how much time a student is participating in activities. Currently, ClassEDU is in a private, paid beta with more than 60 customers.

Image Credits: Class

Right now, Class software is only usable on Macs, but its beta will be available on iPhone, Windows and Android in the near future. The public launch is at the end of the quarter.

The startup is built entirely atop the Zoom platform, but functions as a standalone business versus a third-party integration, like what one would find on Zoom apps. Class is using the Zoom SDK, which is free, to use its back-end audio and video capabilities but build front-end interface and experience. Like any early-stage startup that relies on another business to work, the platform risk is notable.

At the same time, the risk comes with reward: Zoom is a household name, which helps Class reduce significant friction when selling to schools, says Chasen. Instead of a school having to replace the technology they have been using for the last year, Chasen says that Class can simply make it better.

“We’re going for the broader, larger deployments that just need to know that they have the stability and the scalability of Zoom, with just teaching learning tools built on top of that,” Chasen said. Over 125,000 schools use Zoom already, he said, which is enough to build a big business. The startup has no current plans to integrate with Teams or WebEx.

The startup sees the changing tide in edtech boiling down to a difference in sales, similar to Udemy’s new president’s sentiment with enterprise sales earlier this week.

“At Blackboard, we had a six to nine month sales cycle, we’d have to explain that e-learning is a thing,” Chasen said, who was at the LMS business for 15 years. “[With Class] we don’t even have to pitch. It wraps up in a month, and our sales cycle is just showing people the product.

The big hurdle for Class, and any startup selling e-learning solutions to institutions, is post-pandemic utility. While institutions have traditionally been slow to adopt software due to red tape, Chasen says that both of Class’ customers, higher ed and K-12, are actively allocating budget for these tools. The price for Class ranges between $10,000 to $65,000 annually depending on the number of students in the classes.

“We have not run into a budgeting problem in a single school,” he said. “Higher ed has already been taking this step towards online learning, and they’re now taking the next step, whereas K-12, this is the first step they’re taking.”