Latent AI, which says it can compress common AI models by 10x, lands some key backing

Roughly a year ago, Latent AI, a now three-year-old, Menlo Park, Ca.-based startup, pitched a handful of investors during TechCrunch’s Battlefield competition. It didn’t win that contest, but that hasn’t kept it from winning the interest of investors elsewhere. It just closed on $19 million in Series A funding in a round co-led by Future Ventures and Blackhorn Ventures, with participation from Booz Allen, Lockheed Martin, 40 North Ventures, and Autotech Ventures. The company has now raised $22.5 million altogether.

What are these backers funding exactly? The company says that its software tools allow AI models to run anywhere, irrespective of hardware constraints, and that includes on the inexpensive chips that are typically found in edge devices. It also says it can compress common AI models by ten times without a noticeable change in accuracy, partly through an “attention mechanism” that enables it to save power and run only what is needed, and partly because it can self-adjust its workload based on environment and operational context.

That means — according to Latent AI — that its tools can help developers deliver AI models that are optimized for compute; that they can overcome memory and power constraints; and that there’s almost no latency (thus the company name).

Steve Jurvetson, the veteran investor and cofounder of Future Ventures, says to “think of face-detection algorithms running locally within security cameras or appliances, or Siri-like voice interfaces working instantly, even when there’s no network connectivity.”

Certainly, there’s a huge market for the kind of tech that Latent AI is developing. Indeed, though in an interview earlier today, cofounder and CEO Jags Kandasamy declined to delve into specifics, he suggested that the U.S. government is already a customer, thanks in part to strategic investors like Booz Allen. (In a press release last month about Booz Allen’s investment in Latent AI, Steve Escaravage, an SVP at the government services agency, noted that the “ability to collect, analyze and quickly act on data is at the core” of the U.S.’s national defense strategy.)

Another strategic investor, Lockheed Martin, is very focused on finding ways that AI technologies can help the U.S. military improve on situational awareness across land, sea, air, space, cyber and electromagnetic spectrum domains, so it’s easy to appreciate its attraction to the startup.

Kandasamy also talked this afternoon about an unnamed ski manufacturer that it is using Latent AI’s tech in its Google Glass-like augmented reality goggles,  and he suggested that Latent AI sees a world of opportunities in the commercial market, too.

Of course, given that the world is now rife with data-collecting-devices and that there’s an enormous interest in making that data actionable without having to send it back and forth to a distant cloud, there are many other companies and projects with the same objective as Latent AI. Among them are open source tools like TensorFlow, hardware vendors like Xilinx, and rival startups like OctoML and Deeplite.

Kandasamy insists that all fall short in some way. Of TensorFlow, he says that developers have only community support when it comes to production deployment. Of the chipmakers of the world, they’re focused on their own hardware and not vertically integrated. And what of those rivals? They’re either focused on compression or compiling and not both, says Kandasamy.

Either way, Latent AI has the kind of backstory that investors like. After Kandasamy, a serial entrepreneur, sold his last startup to Analog Devices, he headed to SRI International in 2018 as an entrepreneur-in-residence. There, he was quickly wowed by tech being developed by Sek Chai, who was the research institution’s technical director for nearly a decade, and who specialized in low-power high performance computing, computer vision, and machine learning. Indeed, soon after, Kandasamy had Chai had formed Latent AI and begun smoothing out some of the kinks.

Now, with fresh funding and a small but growing customer base that pays Latent AI on a subscription basis to access to its tools (then deploy them on premise), the question is whether the 15-person outfit is coming along far enough, fast enough, to get ahead of its current and future rivals.

Jurvetson plainly thinks it’s well-positioned. He says he has been an advisory board member for SRI International for more than a decade and seen a good many technologies like Siri develop and then spin out of the organization.

“This is the only one I have invested in,” he says.

#autotech-ventures, #blackhorn-ventures, #future-ventures, #latent-ai, #lockheed-martin, #recent-funding, #series-a, #startups, #tc, #venture-capital

Micromobility operator Veo raises $16M to fund U.S. expansion

Shared micromobility operator Veo has raised $16 million in new funding as the company ramps up its expansion plans in the United States. The Series A funding round, which follows permit awards in Santa Monica, San Diego and New York, will be used to expand Veo’s fleet and focus on developing city and community partnerships.

Veo, which was founded in 2017, has sought venture funding a bit later in the game than other micromobility companies. Veo’s co-founder and CEO Candice Xie has been vocal about creating a sustainable business model that’s profitable on its own before seeking external funding, which the company says it’s done. But as Veo expands its footprint, it needs the additional funds to purchase the vehicles necessary to deploy in new markets, according to the company. 

“We want to make sure we have very high-quality vehicles as well because vehicle depreciation cost is a huge factor in unit economics, and we have a very good control of that,” Edwin Tan, co-founder and president of Veo, told TechCrunch. “By leveraging our design and supply chain, we want to show that we can continue to develop high quality, long-lasting vehicles.”

The company, which has always designed and manufactured its own electric scooters and bikes rather than partnering with a manufacturer, recently rolled out its newest Astro 4, which Tan said can last about three years. Veo’s previous vehicle generation can last two years.

New features on the vehicle can help greatly reduce operational costs and help users get more for their money, said Tan. The Astro 4 is the first shared e-scooter with turn signals, according to Veo. It will also feature a new lighting feature that asks passerby to “Please pick me up” on the bottom of the board if knocked over — an effort to alert people with disabilities to the presence of the scooter while solving the public nuisance problem. A brighter headlight, decklight and taillight have also been added along with and other features like improved suspension and IoT will be helpful in keeping costs down, Tan said.

“We are expanding out R&D budget,” said Tan. “We want to make sure we can create new technology or a new product that can solve for new form factors. We believe this industry is still very early, and think we can create more form factors and really change how people move around with different vehicles. That unmet demand is really important for us.”

Veo averages one new vehicle each year, according to Tan. The company plans to launch a new vehicle in the first quarter of 2022 that will solve for the “winter problem” and overcome the seasonality of rides. The company said it already has a solution for that but isn’t ready to share more details. 

Veo also wants to address the needs of people who don’t feel safe or comfortable riding a stand-up kick scooter or a bike. Veo’s Cosmo model, which is a sit-down scooter design, is an example of the company’s attempt to meet that demand. Veo plans to offer additional models that are accessible to a wider range of people, a move that aligns with requests from cities. 

The funding round was led by Autotech Ventures, with participation from UP Partners, FJ Labs and Interplay Ventures.

#autotech-ventures, #e-bike, #e-scooter, #recent-funding, #scooter-sharing, #series-a, #startups, #transportation, #venture-capital, #veo

Tezlab CEO Ben Schippers to discuss the Tesla effect and the next wave of EV startups at TC Sessions: Mobility 2021

As Tesla sales have risen, interest in the company has exploded, prompting investment and interest in the automotive industry, as well as the startup world.

Tezlab, a free app that’s like a Fitbit for a Tesla vehicle, is just one example of the numerous startups that have sprung up in the past few years as electric vehicles have started to make the tiniest of dents in global sales. Now, as Ford, GM, Volvo, Hyundai along with newcomers Rivian, Fisker and others launch electric vehicles into the marketplace, more startups are sure to follow.

Ben Schippers, the co-founder and CEO of Tezlab, is one of two early-stage founders who will join us at TC Sessions: Mobility 2021 to talk about their startups and the opportunities cropping up in this emerging age of EVs. The six-person team behind TezLab was born out of HappyFunCorp, a software engineering shop that builds apps for mobile, web, wearables and Internet of Things devices for clients that include Amazon, Facebook and Twitter, as well as an array of startups.

HFC’s engineers, including Schippers, who also co-founded HFC, were attracted to Tesla  because of its techcentric approach and one important detail: the Tesla API endpoints are accessible to outsiders. The Tesla API is technically private. But it exists allowing the Tesla’s app to communicate with the cars to do things like read battery charge status and lock doors. When reverse-engineered, it’s possible for a third-party app to communicate directly with the API.

Schippers’ experience extends beyond scaling up Tezlab. Schippers consults and works with companies focused on technology and human interaction, with a sub-focus in EV.

The list of speakers at our 2021 event is growing by the day and includes Motional’s president and CEO Karl Iagnemma and Aurora co-founder and CEO Chris Urmson, who will discuss the past, present and future of AVs. On the electric front is Mate Rimac, the founder of Rimac Automobili, who will talk about scaling his startup from a one-man enterprise in a garage to more than 1,000 people and contracts with major automakers.

We also recently announced a panel dedicated to China’s robotaxi industry, featuring three female leaders from Chinese AV startups: AutoX’s COO Jewel Li, Huan Sun, general manager of Momenta Europe with Momenta, and WeRide’s VP of Finance Jennifer Li.

Other guests include, GM’s VP of Global Innovation Pam Fletcher, Scale AI CEO Alexandr Wang, Joby Aviation founder and CEO JoeBen Bevirt, investor and LinkedIn founder Reid Hoffman (whose special purpose acquisition company just merged with Joby), investors Clara Brenner of Urban Innovation Fund, Quin Garcia of Autotech Ventures and Rachel Holt of Construct Capital, and Zoox co-founder and CTO Jesse Levinson.

And we may even have one more surprise — a classic TechCrunch stealth company reveal to close the show.

Don’t wait to book your tickets to TC Sessions: Mobility as prices go up at our virtual door.

#alexandr-wang, #amazon, #api, #articles, #aurora, #automation, #autotech-ventures, #autox, #av, #ben-schippers, #ceo, #china, #chris-urmson, #clara-brenner, #construct-capital, #coo, #facebook, #fitbit, #founder, #happyfuncorp, #hyundai, #jesse-levinson, #jewel-li, #joby, #joby-aviation, #joeben-bevirt, #karl-iagnemma, #linkedin, #major, #mate-rimac, #momenta, #motional, #pam-fletcher, #quin-garcia, #rachel-holt, #reid-hoffman, #rimac-automobili, #rivian, #robotaxi, #robotics, #scale-ai, #science-and-technology, #self-driving-cars, #startup-company, #tc, #technology, #tesla, #tezlab, #urban-innovation-fund, #volvo, #weride, #zoox

ChargerHelp co-founder, CEO Kameale C. Terry is heading to TC Sessions: Mobility 2021

Thousands of electric vehicle charging stations will be built around the country over the next decade. ChargerHelp!, founded in January 2020 by Kameale C. Terry and Evette Ellis, wants to make sure they stay up and running.

The idea for the on-demand repair app for EV charging stations came to Terry when she was working at EV Connect, where she held a number of roles including director of programs and head of customer experience. She noticed long wait times to fix non-electrical issues at charging stations due to the industry practice to use electrical contractors.

“When the stations went down we really couldn’t get anyone on site because most of the issues were communication issues, vandalism, firmware updates or swapping out a part — all things that were not electrical,” Terry said in an interview with TechCrunch earlier this year.

After Terry quit her job to start ChargerHelp!, she joined the Los Angeles Cleantech Incubator, where she developed a first-of-its-kind EV Network Technician Training Curriculum. Shortly after, Terry and Ellis were accepted into Elemental Excelerator’s startup incubator and have landed contracts with major EV charging network providers like EV Connect and SparkCharge.

The company uses a workforce-development approach to hiring, meaning that they only hire in cohorts. Workers receive full training, earn two safety licenses, are guaranteed a wage of $30 an hour and receive shares in the startup, Terry said.

We’re excited to announce that Kameale Terry will be joining us at TC Sessions: Mobility 2021, a one-day virtual event that is scheduled June 9. We’ll be covering a lot of ground with Terry, from how she developed her EV repair curriculum to what she sees in the company’s future.

Each year TechCrunch brings together founders, investors, CEOs and engineers who are working on all things transportation and mobility. If it moves people and packages from Point A to Point B, we cover it. This year’s agenda is filled with leaders in the mobility space who are shaping the future of transportation, from EV charging to autonomous vehicles to urban air taxis.

Among the growing list of speakers are Rimac Automobili founder Mate RimacRevel Transit CEO Frank Reig, community organizer, transportation consultant and lawyer Tamika L. Butler and Remix/Via co-founder and CEO Tiffany Chu, who will come together to discuss how (and if) urban mobility can increase equity while still remaining a viable business.

Other guests include Motional’s President and CEO Karl Iagnemma, Aurora co-founder and CEO Chris Urmson, GM‘s VP of Global Innovation Pam FletcherScale AI CEO Alexandr WangJoby Aviation founder and CEO JoeBen Bevirt, investor and LinkedIn founder Reid Hoffman (whose special purpose acquisition company just merged with Joby), investors Clara Brenner of Urban Innovation FundQuin Garcia of Autotech Ventures and Rachel Holt of Construct CapitalZoox co-founder and CTO Jesse Levinson.

We also recently announced a panel dedicated to China’s robotaxi industry, featuring three female leaders from Chinese AV startups: AutoX’s COO Jewel LiHuan Sun, general manager of Momenta Europe with Momenta, and WeRide’s VP of Finance Jennifer Li.

Don’t wait to book your tickets to TC Sessions: Mobility as prices go up at the door. Grab your passes right now and hear from today’s biggest mobility leaders.

#alexandr-wang, #aurora, #automation, #automotive, #autotech-ventures, #autox, #av, #ceo, #chargerhelp, #charging-station, #china, #chris-urmson, #clara-brenner, #construct-capital, #coo, #electric-vehicle, #electric-vehicle-charging-station, #electric-vehicles, #ev-connect, #events, #frank-reig, #jesse-levinson, #jewel-li, #joby, #joby-aviation, #joeben-bevirt, #karl-iagnemma, #linkedin, #mate-rimac, #momenta, #motional, #pam-fletcher, #quin-garcia, #rachel-holt, #reid-hoffman, #revel-transit, #rimac-automobili, #robotaxi, #robotics, #scale-ai, #science-and-technology, #sparkcharge, #startups, #tamika-l-butler, #tc, #tc-sessions-mobility-2021, #technology, #tiffany-chu, #transport, #transportation, #urban-innovation-fund, #weride, #zoox

China’s autonomous vehicle startups AutoX, Momenta and WeRide are coming to TC Sessions: Mobility 2021

As the autonomous vehicle industry in the United States marches towards consolidation, a funding spree continues to exhilarate China’s robotaxi industry. Momenta, Pony.ai, WeRide, and Didi’s autonomous vehicle arm have all raised hundreds of millions of dollars over the past year. 21-year-old search engine giant Baidu competes alongside the startups with a $1.5 billion fund launched in 2017 to help cars go driverless.

Their strategies are similar in some regards and diverge elsewhere. The biggest players have deployed small fleets of robotaxis, manned with safety drivers, onto certain urban roads and are diligently testing driverless vehicles inside pilot zones. Some companies embrace lidars to detect the cars’ surroundings while others agree with Elon Musk on a vision-only future.

The industry is still years from being truly driverless and operational at scale, so some contestants are seeking easier cases to tackle and monetize first, putting self-driving software inside buses, trucks and tractors that roam inside industrial parks.

Will investors continue to back the lofty dreams and skyrocketing valuations of China’s robotaxi leaders? And how is China’s autonomous driving race playing out differently from that in the U.S.?

We hope to find out at the upcoming TC Sessions: Mobility 2021, where we speak to three female leaders from Chinese autonomous vehicle startups that have an overseas footprint: Jewel Li from AutoX, which is backed by Chinese state-owned automakers Dongfeng Motor and SAIC Motor; Huan Sun from Momenta, which attracted Bosch, Daimler and Toyota in its $500 million round closed in March; and Jennifer Li from WeRide, of which valuation jumped to $3 billion after a financing round in May.

We can’t wait to hear from this panel! Among the growing list of speakers at this year’s event are GM’s VP of Global Innovation Pam Fletcher, Scale AI CEO Alexandr Wang, Joby Aviation founder and CEO JoeBen Bevirt, investor and LinkedIn founder Reid Hoffman (whose special purpose acquisition company just merged with Joby), investors Clara Brenner of Urban Innovation Fund, Quin Garcia of Autotech Ventures and Rachel Holt of Construct Capital, Starship Technologies co-founder and CEO/CTO Ahti Heinla, Zoox co-founder and CTO Jesse Levinson, community organizer, transportation consultant and lawyer Tamika L. Butler, Remix co-founder and CEO Tiffany Chu and Revel co-founder and CEO Frank Reig.

Stay tuned for more announcements in these final weeks. Book your general admission pass for $125 today and join this year’s deep dive into the world of all things transportation at TC Sessions: Mobility.

#alexandr-wang, #articles, #automation, #automotive, #autotech-ventures, #baidu, #bosch, #ceo, #china, #clara-brenner, #construct-capital, #daimler, #dongfeng-motor, #driverless, #frank-reig, #jesse-levinson, #joby, #joby-aviation, #joeben-bevirt, #linkedin, #momenta, #musk, #pam-fletcher, #pony, #quin-garcia, #rachel-holt, #reid-hoffman, #robotaxi, #robotics, #saic-motor, #scale-ai, #science-and-technology, #search-engine, #self-driving-cars, #starship-technologies, #tamika-l-butler, #tc, #technology, #tiffany-chu, #toyota, #united-states, #urban-innovation-fund, #zoox

Autonomous vehicle pioneers Karl Iagnemma and Chris Urmson are coming to TC Sessions: Mobility 2021

Long before the multi-million-dollar acquisitions and funding rounds pushed autonomous vehicles to the top of the hype cycle, Karl Iagnemma and Chris Urmson were researching and, later, developing the foundations of the technology.

These pioneers, Iagnemma coming from MIT, Urmson from Carnegie Mellon University — would eventually go on to launch their own autonomous vehicle startups in an aim to finally bring years of R&D to the public.

That task isn’t over quite yet. Urmson, who is co-founder and CEO of Aurora, and Iagnemma, who is president and CEO of Motional, are still working on unlocking the technical and business problems that stand in the way of commercialization.

TechCrunch is excited to announce that Urmson and Iagnemma will be joining us on the virtual stage of TC Sessions: Mobility 2021. The one-day event, scheduled for June 9, is bringing together engineers and founders, investors and CEOs who are working on all the present and future ways people and packages will get from Point A to Point B. Iagnemma and Urmson will come to discuss the past, the present challenges and what both aim to do in the future. We’ll tackle questions about the technical problems that remain to be solved, the war over talent, the best business models and applications of autonomous vehicles and maybe even hear a few stories from the early days of testing and launching a startup.

Both guests have a long list of accolades and accomplishments — and too many, to cover them all here.

Urmson has been working on AVs for more than 15 years. He earned his Ph.D. in Robotics from Carnegie Mellon University and his BSc in computer engineering from the University of Manitoba in 1998. He was a faculty member of the Robotics Institute at Carnegie Mellon University where he worked with house-sized trucks, drove robots in the desert, and was the technical director of the DARPA Urban and Grand Challenge teams. Urmson has authored more than 60 patents and 50 publications.

He left CMU and was one of the founding members of Google’s self-driving program, serving as its CTO. In 2017, Urmson co-founded Aurora with Sterling Anderson and Drew Bagnell.

Iagnemma is also considered an authority on robotics and driverless vehicles. He was the director of the Robotic Mobility Group at the Massachusetts Institute of Technology (MIT), where his research resulted in more than 150 technical publications, 50 issued or filed patents, and numerous edited volumes, including books on the DARPA Grand Challenge and Urban Challenge autonomous vehicle competitions. He holds MS and PhD degrees from MIT, where he was a National Science Foundation fellow, and a BS from the University of Michigan, where he graduated first in his class.

In 2013, Iagnemma co-founded autonomous vehicle startup nuTonomy, one of the first to launch ride-hailing pilots. The company was acquired by Aptiv in late 2017. Aptiv and Hyundai formed the joint venture, which he now heads, in 2020. 

Iagnemma and Urmson are two of the many of the best and brightest minds in transportation who will be joining us on our virtual stage in June. Among the growing list of speakers is GM’s vp of global innovation Pam Fletcher, Scale AI CEO Alexandr Wang, Joby Aviation founder and CEO JoeBen Bevirt, investor and LinkedIn founder Reid Hoffman, whose special purpose acquisition company just merged with Joby, investors Clara Brenner of Urban Innovation Fund, Quin Garcia of Autotech Ventures and Rachel Holt of Construct Capital, Starship Technologies co-founder and CEO/CTO Ahti Heinla, Zoox co-founder and CTO Jesse Levinson, community organizer, transportation consultant and lawyer Tamika L. Butler, Remix co-founder and CEO Tiffany Chu and Revel co-founder and CEO Frank Reig.

Stay tuned for more announcements in the weeks leading up to the event. Early Bird sales ends tonight, May 7 at 11:59 pm PT. Be sure to book your tickets ASAP and save $100.

#alexandr-wang, #aptiv, #aurora, #automotive, #autonomous-vehicles, #autotech-ventures, #b, #carnegie-mellon-university, #ceo, #chris-urmson, #clara-brenner, #construct-capital, #cto, #director, #electric-vehicles, #frank-reig, #grand-challenge, #hyundai, #jesse-levinson, #joeben-bevirt, #karl-iagnemma, #linkedin, #massachusetts-institute-of-technology, #michigan, #mit, #mobility, #motional, #national-science-foundation, #nutonomy, #pam-fletcher, #quin-garcia, #rachel-holt, #reid-hoffman, #revel, #robotics-institute, #scale-ai, #science-and-technology, #self-driving-cars, #starship-technologies, #sterling-anderson, #tamika-l-butler, #technology, #tiffany-chu, #transportation, #uber-atg, #university-of-michigan, #urban-innovation-fund, #zoox

Less than 24 hours to save $100 to TC Sessions: Mobility 2021

Calling all frazzled procrastinators, feet-draggers, lollygaggers and last-minute decision makers. The best price on passes to TC Sessions: Mobility 2021, which takes place on June 9, disappears in mere hours.

It’s now o’clock, baby. Shift your EV into gear, hail a robotaxi or tell Mr. Scott to beam you up — whatever it takes to buy your pass before the early bird deadline expires tonight, May 6, at 11:59 pm (PT).

TC Sessions: Mobility 2021 gathers the very best people in the mobility startup ecosystem to discuss the rapidly evolving trends, opportunities and challenges that come from inventing new ways to move populations — and all their stuff — around the planet and beyond.

This one-day deep dive will help you drive your startup forward, understand emerging trends and gain insight on what investors want and where they’re placing bets. Engage in hyper-focused networking and discover opportunities anywhere in the world.

We have a great line up, and here are just a few examples of the interviews, inter-active panel discussions and breakout sessions waiting for you. Don’t forget to check out the event agenda here.

Mobility’s Robotic Future: Automotive manufacturers are looking to robotics as the future of mobility, from manufacturing to autonomy and beyond. We’ll be speaking with James Kuffner, CEO, Toyota Research Institute – Advanced Development, the head of robotics initiatives at one of the world’s largest automakers, to find out how the technology is set to transform the industry.

The Rise of Robotaxis in China: Silicon Valley has long been viewed as a hub for autonomous vehicle development. But another country is also leading the charge. Executives from three leading Chinese robotaxi companies (that also have operations in Europe or the U.S.) will join us to provide insight into the unique challenges of developing and deploying the technology in China and how it compares to other countries.

Will Venture Capital Drive the Future of Mobility? Clara Brenner (Urban Innovation Fund), Quin Garcia (Autotech Ventures) and Rachel Holt (Construct Capital) will discuss how the pandemic changed their investment strategies, the hottest sectors within the mobility industry, the rise of SPACs as a financial instrument and where they plan to put their capital in 2021 and beyond.

What are you waiting for? It’s now o’clock and time to save $100 — but only if you purchase your pass to Mobility 2021 before the price increase goes into effect tonight, May 6 at 11:59 pm (PT). Let the learning, networking and scaling begin!

Is your company interested in sponsoring or exhibiting at TC Sessions: Mobility 2021? Contact our sponsorship sales team by filling out this form.

#automation, #automotive, #autotech-ventures, #ceo, #china, #clara-brenner, #europe, #james-kuffner, #motorola, #quin-garcia, #rachel-holt, #robotaxi, #robotics, #science-and-technology, #self-driving-car, #tc, #tc-sessions-mobility-2021, #technology, #toyota, #toyota-research-institute, #united-states, #urban-innovation-fund

Announcing the Agenda for TC Sessions: Mobility 2021

TC Sessions: Mobility is back and we’re excited to give you the first look at who is coming to the main stage and what we plan to talk about. The event will be virtual, but never fear, we will bring you the same informative panels and provocative one-on-one interviews and networking you’re used to.

The new format has provided one massive benefit: democratizing access. If you’re a startup or investor, you can listen in, network and connect with other participants here in Silicon Valley. Plus, you’ll be able to meet all of the attendees through our matchmaking platform, CrunchMatch.

You’ll need to make sure you have your ticket to join us at the event online. Our Early Bird savings end in just a couple of days, so make sure to book your $95 pass now, and save $100 before prices go up.

TechCrunch reporters and editors will interview some of the top leaders in transportation to tackle topics such as scaling up an electric vehicle company, the future of automated vehicle technology, building an AV startup and investing in the industry. Our guests include Scale AI founder Alexandr Wang, Zoox co-founder and CTO Jesse Levinson, Amy Jones Satrom of Nuro, famed investor Reid Hoffman, Joby Aviation founder JoeBen Bevirt, GM’s vice president of innovation Pamela Fletcher, Karl Iagnemma of Motional and Aurora co-founder and CEO Chris Urmson, to name a few.

Don’t forget, Early Bird Passes (including $100 savings) are currently available for a limited time; grab your tickets here before prices increase.

AGENDA

Self-Driving Deliveries with Ahti Heinla (Starship), Amy Jones Satrom (Nuro) and Apeksha Kumavat (Gatik)

Autonomous vehicles and robotics were well on their way transforming deliveries before the pandemic struck. In the past year, these technologies have moved from novel applications to essential innovations. We’re joined by a trio of companies — each with individual approaches that span the critical middle and last mile of delivery.

Supercharging Self-Driving Super Vision with Alexandr Wang (Scale AI)

Few startups were as prescient as Scale AI when it came to anticipating the need for massive sets of tagged data for use in AI. Co-founder and CEO Alex Wang also made a great bet on addressing the needs of lidar sensing companies early on, which has made the company instrumental in deploying AV networks. We’ll hear about what it takes to make sense of sensor data in driverless cars and look at where the industry is headed.

Will Venture Capital Drive the Future of Mobility? with Clara Brenner (Urban Innovation Fund), Quin Garcia (Autotech Ventures) and Rachel Holt (Construct Capital)

Clara Brenner, Quin Garcia and Rachel Holt will discuss how the pandemic changed their investment strategies, the hottest sectors within the mobility industry, the rise of SPACs as a financial instrument and where they plan to put their capital in 2021 and beyond.

From Concept to Commuter Car — and Beyond with Jesse Levinson (Zoox)

Zoox unveiled the design of its fit-for-purpose autonomous vehicle for the first time, after years of development and much anticipation. Meanwhile, the company was also acquired by Amazon in a high-profile deal that looks to give the company ample runway, while keeping its operations independent. We’ll hear from co-founder and CTO Jesse Levinson about what it’s like building an autonomous car company in the shadows of a commerce giant.

EV Founders in Focus with Ben Schippers (TezLab)

We sit down with the founders poised to take advantage of the rise in electric vehicle sales. We’ll chat with Ben Schippers, co-founder and CEO of TezLab, an app that operates like a Fitbit for Tesla vehicles (and soon other EVs) and allows drivers to go deep into their driving data. The app also breaks down the exact types and percentages of fossil fuels and renewable energy coming from charging locations.

The Future of Flight with JoeBen Bevirt (Joby Aviation) and Reid Hoffman (Reinvent Technology Partners)

Joby Aviation founder JoeBen Bevirt spent more than a decade quietly developing an all-electric, vertical take-off and landing passenger aircraft. Now he is preparing for a new phase of growth as Joby Aviation merges with the special purpose acquisition company formed by famed investor and Linked co-founder Reid Hoffman. Bevirt and Hoffman will come to our virtual stage to talk about the how build a startup (and keep it secret while raising funds), the future of flight and, of course, SPACs.

Equity, Accessibility and Cities with Tamika L. Butler (Tamika L. Butler Consulting), Tiffany Chu (Remix) and Frank Reig (Revel)

Can mobility be accessible, equitable and remain profitable? We have brought together community organizer, transportation consultant and lawyer Tamika L. Butler; Remix co-founder and CEO Tiffany Chu and Revel co-founder and CEO Frank Reig to discuss how (and if) shared mobility can provide equity in cities, while still remaining a viable and even profitable business. The trio will also dig into the challenges facing cities and how policy may affect startups.

The Rise of Robotaxis in China with Tony Han (WeRide), Jewel Li (AutoX) and Huan Sun (Momenta Europe)

Silicon Valley has long been viewed as a hub for autonomous vehicle development. But another country is also leading the charge. Executives from three leading Chinese robotaxi companies (that also have operations in Europe or the U.S.) will join us to provide insight into the unique challenges of developing and deploying the technology in China and how it compares to other countries.

Sponsored by Plus: Delivering Supervised Autonomous Trucks Globally with Shawn Kerrigan (Plus)

Plus is applying autonomous driving technology to launch supervised autonomous trucks today in order to dramatically improve safety, efficiency and driver comfort, while addressing critical challenges in long-haul trucking — driver shortage and high turnover, rising fuel costs, and reaching sustainability goals. Mass production of our supervised autonomous driving solution, PlusDrive, starts this summer. In the next few years, tens of thousands of heavy trucks powered by PlusDrive will be on the road. Plus’s COO and Co-Founder Shawn Kerrigan will introduce PlusDrive and our progress of deploying this driver-in solution globally. He will also share our learnings from working together with world-leading OEMs and fleet partners to develop and deploy autonomous trucks at scale.

Driving Innovation at General Motors with Pam Fletcher (GM)

GM is in the midst of sweeping changes that will eventually turn it into an EV-only producer of cars, trucks and SUVs. But the auto giant’s push to electrify passenger vehicles is just one of many efforts to be a leader in innovation and the future of transportation. We’ll talk with Pam Fletcher, vice president of innovation at GM, one of the key people behind the 113-year-old automaker’s push to become a nimble, tech-centric company.

AVs: Past, Present and Future with Karl Iagnemma (Motional) and Chris Urmson (Aurora)

TechCrunch Mobility will talk to two pioneers, and competitors, who are leading the charge to commercialize autonomous vehicles. Karl Iagnemma, president of the $4 billion Hyundai-Aptiv joint venture known as Motional, and Chris Urmson, the co-founder and CEO of Aurora, will discuss — and maybe even debate — the best approach to AV development and deployment, swap stories of the earliest days of the industry and provide a few forecasts of what’s to come.

EV Founders in Focus

We sit down with the founders poised to take advantage of the rise in electric vehicle sales. This time, we will chat with Kameale Terry, co-founder and CEO of ChargerHelp! a startup that enables on-demand repair of electric vehicle charging stations.

Sponsored by: Wejo: Making Mobility Data Accessible to Governmental Agencies to Meet New Transportation Demands with Bret Scott (Wejo)

Wejo provides accurate and unbiased unique journey data, curated from millions of connected cars, to help local, state, province and federal government agencies visualize traffic and congestion conditions. Unlock a deeper understanding of mobility trends, to make better decisions, support policy development and solve problems more effectively for your towns and cities.

Mobility’s Robotic Future with James Kuffner (Toyota Research Institute)

More than ever, automotive manufacturers are looking to robotics as the future of mobility, from manufacturing to autonomy and beyond. We’ll be speaking to the head of robotics initiatives at one of the world’s largest automakers  to find out how the technology is set to transform the industry.

TICKETS

As a special “Easter egg” thank you for making it to the end of the article, you can save an additional 15% on tickets with promo code “agenda2021“. Put it in the ticket widget below, and save! Early Bird pricing ends in a couple of days so be sure to book your passes today for maximum savings.

 

#africa, #alex-wang, #alexandr-wang, #amazon, #articles, #artificial-intelligence, #asia, #australia, #automotive, #autonomous-car, #autotech-ventures, #av, #ben-schippers, #ceo, #chargerhelp, #chris-urmson, #clara-brenner, #crunchmatch, #driver, #europe, #frank-reig, #gm, #james-kuffner, #jesse-levinson, #jewel-li, #joeben-bevirt, #karl-iagnemma, #motional, #nuro, #plus, #quin-garcia, #rachel-holt, #reid-hoffman, #reinvent-technology-partners, #robot, #science-and-technology, #self-driving-cars, #self-driving-truck, #south-america, #tc, #tc-sessions-mobility-2021, #technology, #tesla, #tezlab, #tiffany-chu, #toyota-research-institute, #united-states, #urban-innovation-fund, #zoox

Scale AI founder and CEO Alexandr Wang will join us at TC Sessions: Mobility on June 9

Last week, Scale AI announced a massive $325 million Series E. Led by Dragoneer, Greenoaks Capital and Tiger Global, the raise gives the San Francisco data labeling startup a $7 billion valuation.

Alexandr Wang founded the company back in 2016, while still at MIT. A veteran of Quora and Addepar, Wang built the startup to curate information for AI applications. The company is now a break-even business, with a wide range of top-notch clients, including General Motors, NVIDIA, Nuro and Zoox.

Backed by a ton of venture capital, the company plans a large-scale increase in its headcount, as it builds out new products and expands into additional markets. “One thing that we saw, especially in the course of the past year, was that AI is going to be used for so many different things,” Wang told TechCrunch in a recent interview. “It’s like we’re just sort of really at the beginning of this and we want to be prepared for that as it happens.”

The executive will join us on stage at TC Sessions: Mobility on June 9 to discuss how the company has made a major impact on the industry in its short four years of existence, the role AI is playing in the world of transportation and what the future looks like for Scale AI.

In addition to Wang, TC Sessions: Mobility 2021 will feature an incredible lineup of speakers, presentations, fireside chats and breakouts all focused on the current and future state of mobility — like EVs, micromobility and smart cities for starters — and the investment trends that influence them all.

Investors like Clara Brenner (Urban Innovation Fund), Quin Garcia (Autotech Ventures) and Rachel Holt (Construct Capital) — all of whom will grace our virtual stage. They’ll have plenty of insight and advice to share, including the challenges that startup founders will face as they break into the transportation arena.

You’ll hear from CEOs like Starship Technologies’ Ahti Heinla. The company’s been busy testing delivery robots in real-world markets. Don’t miss his discussion touching on challenges ranging from technology to red tape and what it might take to make last-mile robotic delivery a mainstream reality.

Grab your early bird pass today and save $100 on tickets before prices go up in less than a month.

#addepar, #alexandr-wang, #articles, #artificial-intelligence, #autotech-ventures, #clara-brenner, #deliv, #economy, #entrepreneurship, #executive, #general-motors, #greenoaks-capital, #micromobility, #mit, #nuro, #nvidia, #quora, #rachel-holt, #san-francisco, #scale-ai, #starship-technologies, #startup-company, #tc-sessions-mobility, #technology, #tiger-global, #transportation, #urban-innovation-fund, #venture-capital, #wang

Tamika Butler, Remix’s Tiffany Chu and Revel’s Frank Reig to discuss how to balance equitability and profitability at TC Sessions Mobility

The race among mobility startups to become profitable by controlling market share has produced a string of bad results for cities and the people living in the them.

City officials and agencies learned from those early deployments of ride-hailing and shared scooter services and have since pushed back with new rules and tighter control over which companies can operate. This correction has prompted established companies to change how they do business and fueled a new crop of startups, all promising a different approach.

But can mobility be accessible, equitable and profitable? And how?

TC Sessions: Mobility 2021, a virtual event scheduled for June 9, aims to dig into those questions. Luckily, we have three guests who are at the center of cities, equity and shared mobility: community organizer, transportation consultant and lawyer Tamika L. Butler, Remix co-founder and CEO Tiffany Chu and Revel co-founder and CEO Frank Reig.

Butler, a lawyer and founder and principal of her own consulting company, is well known for work in diversity and inclusion, equity, the built environment, community organizing and leading nonprofits. She was most recently the director of planning in California and the director of equity and inclusion at Toole Design. She previously served as the executive director of the Los Angeles Neighborhood Land Trust and was the executive director of the Los Angeles County Bicycle Coalition. Butler also sits on the board of Lacuna Technologies.

Chu is the CEO and co-founder of Remix, a startup that developed mapping software used by cities for transportation planning and street design. Remix was recently acquired by Via for $100 million and will continue to operate as a subsidiary of the company. Remix, which was backed by Sequoia Capital, Energy Impact Partners, Y Combinator, and Elemental Excelerator has been recognized as both a 2020 World Economic Forum Tech Pioneer and BloombergNEF Pioneer for its work in empowering cities to make transportation decisions with sustainability and equity at the forefront. Chu currently serves as Commissioner of the San Francisco Department of the Environment, and sits on the city’s Congestion Pricing Policy Advisory Committee. Previously, Tiffany was a Fellow at Code for America, the first UX hire at Zipcar and is an alum of Y Combinator. Tiffany has a background in architecture and urban planning from MIT.

Early Bird tickets to the show are now available — book today and save $100 before prices go up.

Reig is the co-founder and CEO of Revel, a transportation company that got its start launching a shared electric moped service in Brooklyn. The company, which launched in 2018, has since expanded its moped service to Queens, Manhattan, the Bronx, Washington, D.C., Miami, Oakland, Berkeley, and San Francisco. The company has since expanded its focus beyond moped and has started to build fast-charging EV Superhubs across New York City and launched an eBike subscription service in four NYC boroughs. Prior to Revel, Reig held senior roles in the energy and corporate sustainability sectors.

The trio will join other speakers TechCrunch has announced, a list that so far includes Joby Aviation founder and CEO JonBen Bevirt, investor and Linked founder Reid Hoffman, whose special purpose acquisition company just merged with Joby, as well as investors Clara Brenner of Urban Innovation Fund, Quin Garcia of Autotech Ventures and Rachel Holt of Construct Capital and Starship Technologies co-founder and CEO/CTO Ahti Heinla. Stay tuned for more announcements in the weeks leading up to the event.

#america, #automotive, #autotech-ventures, #brands, #butler, #california, #ceo, #cities, #clara-brenner, #companies, #construct-capital, #energy, #energy-impact-partners, #frank-reig, #joby-aviation, #miami, #mit, #new-york-city, #oakland, #quin-garcia, #rachel-holt, #reid-hoffman, #remix, #revel, #san-francisco, #sequoia-capital, #starship-technologies, #startup-company, #tamika-l-butler, #tc, #tc-sessions-mobility, #techcrunch, #tiffany-chu, #transportation, #urban-innovation-fund, #washington-d-c, #world-economic-forum, #y-combinator, #zipcar

Grab a group discount and take your team to TC Sessions: Mobility 2021

Mobility mavens, June 9 will be here before you know it, and that means it’s time to get your strategy ducks in a row for TC Sessions: Mobility 2021. You want to make the most of your time at this one-day virtual intensive featuring interactive presentations with the mobility industry’s top movers, shakers and startup dream makers, amirite?

Take your team to increase your ROI. Right now, you can grab a group discount — at the early bird price — when you buy a block of four or more tickets to TC Sessions: Mobility. Don’t procrastinate. At $70 per pass, you’ll save a couple hundred bucks — but only if you make your purchase by May 5, at 11:59 pm (PT).

Like the old expression says, if you want to go fast, go alone. If you want to go far, go together. You’ll cover more ground and discover more opportunities with your whole team at your side.

TC Sessions: Mobility 2021 will feature an incredible lineup of speakers, presentations, fireside chats and breakouts all focused on the current and future state of mobility — like EVs, micromobility and smart cities for starters — and the investment trends that influence them all.

Investors like Clara Brenner (Urban Innovation Fund), Quin Garcia (Autotech Ventures) and Rachel Holt (Construct Capital) — all of whom will grace our virtual stage. They’ll have plenty of insight and advice to share, including the challenges that startup founders will face as they break into the transportation arena.

You’ll hear from CEOs like Starship Technologies’ Ahti Heinla. The company’s been busy testing delivery robots in real-world markets. Don’t miss his discussion touching on challenges ranging from technology to red tape and what it might take to make last-mile robotic delivery a mainstream reality.

Taking your team also makes you a highly efficient networking unit. Find ad hoc opportunities in the virtual platform’s chat feature or use CrunchMatch, our AI-powered platform to zero in on the people best aligned with your business goals. Schedule virtual product demos, pitch investors or recruit new talent.

Here’s what Rachael Wilcox, a creative producer at Volvo Cars, told us about her networking experience at TC Sessions: Mobility 2020.

“I didn’t think I’d network on a virtual platform but, it turns out, it’s a lot easier to network with more people. Folks just felt more comfortable reaching out. I had conversations with people I probably wouldn’t have met otherwise, and that was an unexpected benefit.”

TC Sessions: Mobility 2021 take place on June 9, but if you want to take your team — and save 25% in the process — it’s now o’clock. Buy your group discount passes before the early bird price disappears on May 5 at 11:59 pm (PT). Grab your cohort and go!

Is your company interested in sponsoring or exhibiting at TC Sessions: Mobility 2021? Contact our sponsorship sales team by filling out this form.

#artificial-intelligence, #automotive, #autotech-ventures, #bicycle-sharing, #clara-brenner, #crunchmatch, #micromobility, #quin-garcia, #rachel-holt, #scooter-sharing, #sharing-economy, #starship-technologies, #startups, #tc-sessions-mobility-2021, #transportation, #urban-innovation-fund

Investors Clara Brenner, Quin Garcia and Rachel Holt are coming to TC Sessions: Mobility 2021

The transportation industry is abuzz with upstarts, legacy automakers, suppliers and tech companies working on automated vehicle technology, digital platforms, electrification and robotics. Then there are shared mobility companies from cars to scooters and mopeds to ebikes. And who can forget the emerging air taxi companies?

At the center of this evolving industry are the investors. Simply put: TechCrunch can’t hold an event on mobility without hearing from the people who are hunting for the best opportunities in the industry and tracking all of its changes. That’s why we’re happy to announce investors Clara Brenner of Urban Innovation Fund, Quin Garcia of Autotech Ventures and Rachel Holt of Construct Capital will join us on our virtual stage at TC Sessions: Mobility 2021. The virtual event, which features the best and brightest minds in the world of mobility, will be held on June 9.

p.s. Early Bird tickets to the show are now available – book today and save 35% before prices go up.

Brenner, Garcia and Holt will come on stage to discuss their near and long-term investment strategies, overlooked opportunities, and challenges that face startups trying to break into the transportation sector. They’ll lean on their considerable experience to provide the advice and insight that will help attendees understand the state of the industry and where it is headed.

Brenner is a serial co-founder. She is co-founder and managing partner of the Urban Innovation Fund, a venture capital firm that provides seed capital and regulatory support to entrepreneurs solving urban challenges. Urban Innovation Fund has backed curbflow, Electriphi and Kyte among others. She also co-founded Tumml, a startup hub for urban tech that provided 38 startups with seed funding and mentorship, and hosts events around urban innovation. In 2014, Forbes listed her as one of its “30 Under 30” for Social Entrepreneurship.

Garcia, a lifelong ‘car guy’ with an MS degree in management science and automotive engineering from Stanford University, is managing director at Autotech Ventures. He’s also a board director, board observer and advisory board member to a number of mobility companies including Lyft, Peloton Technology, and Connected Signals.

Garcia has been on the ground floor of startups, notably as part of the initial team at the electric vehicle infrastructure startup Better Place, where he was responsible for partnerships with automakers and parts suppliers while living in Israel, Japan and China.

Holt is co-founder and Managing Partner of early-stage venture firm Construct Capital, which is focused on finding founders that are trying to change foundational industries such as manufacturing and supply chain, logistics and transportation. The company’s transportation-focused investments include ChargeLab. Holt also sits on the board of MotoRefi.

Prior to Construct, Holt was at Uber, where she was one of the company’s first 30 employees. During her 8.5-year stint at Uber, Holt rose through the ranks of the company, including roles running the U.S.  and Canada “Rides” business as well as global marketing and customer support. She was a longtime member of the company’s executive leadership team. Her last position at Uber was leading the company’s new mobility organization, which focused on its e-bike and scooter businesses as well as running its incubator, which funded and developed new products and services.

Rachel began her career at Bain & Company, advising companies in the private equity, financial services and healthcare industries. She was ranked No. 9 on Fortune’s 40 under 40 and was named by Fast Company as One of the Most Creative People in Business.

We can’t wait to hear from this investor panel at TC Sessions: Mobility on June 9. Make sure to grab your Early Bird pass before May 6 to save 35% on tickets and join the fun!

#articles, #automotive, #autotech-ventures, #better-place, #board-member, #business, #canada, #china, #clara-brenner, #construct-capital, #e-bike, #economy, #entrepreneurship, #events, #executive, #fast-company, #financial-services, #forbes, #innovation, #israel, #japan, #lyft, #manufacturing, #motorefi, #peloton-technology, #private-equity, #quin-garcia, #rachel-holt, #stanford-university, #startup-company, #supply-chain, #tc, #tc-sessions-mobility, #techcrunch, #transportation, #uber, #united-states, #urban-innovation-fund, #venture-capital

Logistics and truck rental giant Ryder joins the businesses making the jump into venture capital in 2020

While the launch of a $50 million venture capital fund by the shipping, logistics, and truck rental company Ryder System may have seemed like an odd strategic move, it’s actually the culmination of roughly three years of investment activity from the Florida-based company.

Ryder’s push to create its own venture fund is actually part of a broader trend among corporations who have used the COVID-19 epidemic in the US as an opportunity to start investing in startups — even as a large portion of the population struggles to find work.

And it’s one that is vital for a company like Ryder, which has seen investments into new technology in its once sleepy little industry top $6 billion, according to company executives. That’s a massive figure promoting new tech development in a business where Excel spreadsheets used to be considered state of the art.

Ryder’s not alone in recognizing the need to get in front of technological innovations before an upstart comes along and puts well-established businesses in the rearview mirror.

Over the first half of 2020, 368 corporations made their first investments into startup companies, according to data from the industry analytics provider, Global Corporate Venturing. It’s a broad shift from the last corporate investment boom and bust period twenty years ago where large corporations were some of the last investors in the tech industry and the first to pull their capital out.

And the amount of first time investors into corporate venturing is nearly double the previous surge in corporate backing in the third quarter of 2019, when 177 new companies made their first investments in venture capital.

Ryder has worked with the venture firms Autotech Ventures and the corporate innovation and accelerator Plug and Play as a limited partner, but the new $50 million fund is its first direct investment vehicle for venture.

“We had a strategic directive from our board of directors and our CEO to begin to look at the disruption confronting our industry and to understand better how to navigate those waters,” said Karen Jones, the executive vice president and head of new product development at the logistics company. “Everybody was reading all about blockchain and automation and electric vehicles ad autonomous vehicles and asset sharing.” 

Transportation and logistics historically didn’t cross paths much with the tech industry — but the advent of globally connected mobile devices; improved, miniaturized sensing technologies; increasing vehicular automation; and accelerating delivery demands from customers have pushed the “sleepy little industry” as Jones called into a period of hyper-adoption.

“There’s just been a ripe opportunity in our particular industry to disrupt it with the technology that’s available,” said Jones. “[And] if we’re going to be disrupted let’s get in front of it and turn it into an opportunity instead of a threat.”

At Ryder, the emphasis seems to be on creating an investment structure with as much flexibility as possible.

The venture firm doesn’t have a cap on its commitments to deals. The only real solid commitment is that it’s looking to spend $50 million over the next five years.

The company will likely invest in technologies like: last-mile deliveries, asset sharing, electric vehicles, autonomous vehicles, and next generation data, analytics, and machine learning technologies, Jones said. But even there, Ryder doesn’t want to limit itself.

We want to entertain other thoughts. Maybe we haven’t thought of everything,” Jones said. 

There are four people on the company’s investment team working alongside Jones: Rich Mohr, the chief technology officer for fleet management; Kendra Philips, the chief technology officer for the company’s supply chain business; Bob Brunn, the vice president of investor relations and corporate strategy; and Mike Plasencia, the director of finance for the company.

They’ll report up to the CEO and CFO and confer with presidents of different business units on potential portfolio investments, Jones said.

Companies in the portfolio will be judged both on their potential strategic value to the company and on their potential for economic returns, said Jones.

For startups, that potentially means access to Ryder’s 50,000 customers. “The ability to help a startup test out and prove their technology and help us improve efficiencies is a great benefit to both sides,” Jones said. 

 

#autotech-ventures, #corporate-venture-capital, #fleet-management, #investment-fund, #plug-and-play, #tc, #venture-capital

Latent AI makes edge AI workloads more efficient

Latent AI, a startup that was spun out of SRI International, makes it easier to run AI workloads at the edge by dynamically managing workloads as necessary.

Using its proprietary compression and compilation process, Latent AI promises to compress library files by 10x and run them with 5x lower latency than other systems, all while using less power thanks to its new adaptive AI technology, which the company is launching as part of its appearance in the TechCrunch Disrupt Battlefield competition today.

Founded by CEO Jags Kandasamy and CTO Sek Chai, the company has already raised a $6.5 million seed round led by Steve Jurvetson of Future Ventures and followed by Autotech Ventures .

Before starting Latent AI, Kandasamy sold his previous startup OtoSense to Analog Devices (in addition to managing HPE Mid-Market Security business before that). OtoSense used data from sound and vibration sensors for predictive maintenance use cases. Before its sale, the company worked with the likes of Delta Airlines and Airbus.

Image Credits: Latent AI

In some ways, Latent AI picks up some of this work and marries it with IP from SRI International .

“With OtoSense, I had already done some edge work,” Kandasamy said. “We had moved the audio recognition part out of the cloud. We did the learning in the cloud, but the recognition was done in the edge device and we had to convert quickly and get it down. Our bill in the first few months made us move that way. You couldn’t be streaming data over LTE or 3G for too long.”

At SRI, Chai worked on a project that looked at how to best manage power for flying objects where, if you have a single source of power, the system could intelligently allocate resources for either powering the flight or running the onboard compute workloads, mostly for surveillance, and then switch between them as needed. Most of the time, in a surveillance use case, nothing happens. And while that’s the case, you don’t need to compute every frame you see.

“We took that and we made it into a tool and a platform so that you can apply it to all sorts of use cases, from voice to vision to segmentation to time series stuff,” Kandasamy explained.

What’s important to note here is that the company offers the various components of what it calls the Latent AI Efficient Inference Platform (LEIP) as standalone modules or as a fully integrated system. The compressor and compiler are the first two of these and what the company is launching today is LEIP Adapt, the part of the system that manages the dynamic AI workloads Kandasamy described above.

Image Credits: Latent AI

In practical terms, the use case for LEIP Adapt is that your battery-powered smart doorbell, for example, can run in a low-powered mode for a long time, waiting for something to happen. Then, when somebody arrives at your door, the camera wakes up to run a larger model — maybe even on the doorbell’s base station that is plugged into power — to do image recognition. And if a whole group of people arrives at ones (which isn’t likely right now, but maybe next year, after the pandemic is under control), the system can offload the workload to the cloud as needed.

Kandasamy tells me that the interest in the technology has been “tremendous.” Given his previous experience and the network of SRI International, it’s maybe no surprise that Latent AI is getting a lot of interest from the automotive industry, but Kandasamy also noted that the company is working with consumer companies, including a camera and a hearing aid maker.

The company is also working with a major telco company that is looking at Latent AI as part of its AI orchestration platform and a large CDN provider to help them run AI workloads on a JavaScript backend.

#5g, #airbus, #analog-devices, #articles, #artificial-intelligence, #autotech-ventures, #battlefield, #cloud-computing, #cto, #delta-airlines, #disrupt-2020, #edge-computing, #enterprise, #future-ventures, #javascript, #sri-international, #startups, #steve-jurvetson, #tc

Location data startup Bluedot raises $9.1M

Bluedot, a geofencing and location data startup used by companies like Dunkin’, KFC and McDonald’s, is announcing that it has raised $9.1 million in Series B funding.

The San Francisco-headquartered company claims that its technology its 20 times more accurate than competing solutions — something that CEO Emil Davityan attributed to its roots in the toll road industry, where it needed to deliver “lane-level” accuracy.

“Since then, we’ve delivered location-based solutions for retail, restaurants and other verticals,” Davityan told me via email. “The focus is on valuable, contactless experiences that prioritize the consumer’s needs.”

The company is extending its capabilities with the launch of a new product called Tempo, which is supposed to incorporate data like traffic patterns — and even the time it takes to get in and out of a car — to deliver real-time alerts when a customer is approaching.

That sounds particularly desirable in the middle of a pandemic, when businesses are increasingly interacting with customers via curbside pickup and drive-through — and presumably want to minimize contact even when the customers are inside the store. It also sounds a little creepy, but Davityan emphasized that the data is encrypted and anonymized.

“We don’t collect personal data, or track, share, or sell location data,” he said. “It’s easy to make claims about being ‘privacy friendly.’ The real challenge is to live and breathe it, to make it central to your business.”

Bluedot says its footprint — as measured by unique monthly users — has increased 2,471% over the past year, and that it’s now powering more than 121 million location events each month.

The startup has now raised a total of $21.9 million. The new funding was led by Autotech Ventures, with participation from previous backer Transurban and new investors Forefront Ventures, IAG Firemark Ventures and Mighty Capital. Autotech’s Alexei Andreev is joining the Bluedot board, with Mighty Capital’s Jennifer Azapian joining as board observer.

“Software that can enable businesses to minimize contact is vital,” Andreev said in a statement. “Moving forward, we see the market favoring contactless solutions and Bluedot is poised to meet this demand. Bluedot’s differentiated offering, focus on consumer experience, and scalability are key factors for any business’s future success, especially as we all rethink mobility and brand interactions.”

#advertising-tech, #autotech-ventures, #bluedot, #funding, #fundings-exits, #mobile, #startups

Autotech Ventures raises more than $150 million with an eye on ground transportation startups

Autotech Ventures popped on the scene three years ago with a $120 million debut fund and a plan to invest in early-stage ground transportation startups. Now, with investments in 26 startups and a handful of exits, including Xnor.ai, DeepScale and Frontier Car Group, the venture firm is back with a new, bigger fund and the same strategy.

Autotech Ventures has raised more than $150 million in its second fund with capital commitments from both financial and corporate investors, including Volvo Group Venture Capital AB, Lear, Bridgestone and Stoneridge, as well as other vehicle manufacturers, parts suppliers, repair shop chains, leasing corporations, dealership groups and trucking firms.

The new fund brings the firm to more than $270 million under management to date.

While Autotech’s funds include institutional financial investors, it has largely focused on corporation.

“The corporate LP base is a key part of our strategy as a firm and a key differentiator for us,” Daniel Hoffer, managing director at Autotech, said in a recent interview with TechCrunch. “At a high level we provide capital, transportation market intelligence and access to large corporations in the industry, including our LPs. Startups really value those connections because we can accelerate their go-to market and their distribution channels in addition to providing greater access to other forms of business development and even M&A opportunities.”

The firm typically aims for the seed and Series A sweet spot. But it occasionally will participate in Series B and later-stage funding rounds, Hoffer said. Its new $150 million-plus fund will target early-stage startups in several sectors that fall under the “ground transportation and mobility” umbrella, including connectivity, autonomy, shared-use mobility, electrification and digital enterprise applications.

Autotech Ventures does invest globally, although the majority of its investments are in the U.S. Outside of North America, the firm has a proportionate interest in Europe and Israel, according to Hoffer.

Some of its notable investments include computer vision startup DeepScale (which was snapped up by Tesla last year), Lyft, used vehicle marketplace operator Frontier Car Group, Outdoorsy, Swvl, parking app SpotHero, Volta Charging and Xnor.ai, which Apple acquired in January.

Hoffer said the firm is sensitive to the well-hyped trends, such as autonomous vehicle technology, that everybody is chasing, but it also is interested in the more niche opportunities that people might be less aware of.

The COVID-19 pandemic, which has upended the shared mobility sector, ride-hailing and public transportation, has Hoffer and his fellow Autotech venture capitalists focused on logistics and supply chain visibility — two areas that have promise in this “COVID-oriented world.”

Autotech is also interested in overlooked opportunities, such as software that enables the industry to execute recalls, and even visibility into junkyard inventory, Hoffer added. The company also sees investment opportunities in “off highway” autonomous vehicle technology ventures, such as in mining and construction.

#accel, #apple, #automotive, #autotech-ventures, #bridgestone, #corporate-finance, #deepscale, #finance, #frontier-car-group, #funding, #investment, #lyft, #money, #spothero, #tc, #tesla, #transportation, #united-states, #venture-capital

The Station: Audi punts on Level 3, Lyft layoffs and Nio’s $1 billion deal

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every Saturday in your inbox.

Hi readers. Welcome back to The Station, a weekly newsletter dedicated to the future (and present) of transportation. I’m your host Kirsten Korosec, senior transportation reporter at TechCrunch .

While COVID-related stay-at-home orders have been extended in places like the San Francisco Bay area, officials in other counties and states in the U.S. have decided to open up for business. The rest of us are watching and waiting to see how these two experiments play out.

These opposing approaches have managed to create even more tension in the United States. If politics didn’t divide us before, how and when to open amid a health pandemic is proving to be an effective wedge.

The “how” is as important, or even more so, than the “when.” What will life and business look like? Wuhan, China, a transportation and manufacturing metropolis of 11 million people and where COVID-19 started, offers a view into one approach. (The photo below shows a worker disinfecting a bus in Wuhan on April 30.)

China-wuhan-bus-covid

A staff member sprays disinfectant on a bus at a long-distance bus station in Wuhan in China’s central Hubei province on April 30, 2020, ahead of the Labor Day holiday which started May 1.

When those stay-at-home orders are finally lifted, returning to work won’t be quick or easy. Wuhan was placed on lockdown January 23. Wuhan officials eased outgoing travel restrictions April 8. While the strictest component of that lockdown has been lifted, many businesses remain closed. Didi didn’t reopened its ride-hailing services in the city until April 30.

In short, it’s going to be complex. Ford’s back-to-work playbook is a case in point. The plan includes a number of daily measures such as online health self-certifications completed before work every day, face masks and no-touch temperature scans upon arrival. But that’s just a sliver of what it will take. Check it out their complete playbook.

Here’s a friendly reminder to reach out and email me at kirsten.korosec@techcrunch.com to share thoughts, opinions or tips or send a direct message to @kirstenkorosec.

I’ll alrighty folks, shall we dig in? Vamos. 

Micromobbin’

the station scooter1a

It was a rough week for micromobility. Over at Lyft, the company laid off 982 employees and furloughed 288 amid the COVID-19 pandemic. Lyft also permanently ceased scooter operations in Oakland, San Jose and Austin.

“We’re focusing our resources where we can have the biggest impact and best serve cities and riders,” a Lyft spokesperson said in a statement to TechCrunch. “We’re continuing to invest in our bike and scooter business, but have made the tough decision to shift resources away from three scooter markets and toward opportunities where we are set up for longer-term success.”

At Lime, the startup let go 13% of its staff while the very next day relaunching its electric scooters in Baltimore and Ogden, Utah.

“Almost overnight, our company went from being on the eve of accomplishing an unprecedented milestone — the first next-generation micromobility company to reach profitability — to one where we had to pause operations in 99% of our markets worldwide to support cities’ efforts at social distancing,” Lime CEO Brad Bao wrote in a note to employees.

Just one day after those layoffs, the company relaunched scooters in Baltimore to help support essential medical workers as well as in Ogden.

Uber is weighing its own layoffs. The Information reported that the company could cut up to 20% of its staff. That translates to more than 5,000 jobs. Those cuts could be announced in stages over the next several weeks. Meanwhile, Thuan Pham, who was hired as Uber’s chief technology officer by former CEO Travis Kalanick back in 2013, is leaving the company in three weeks, the ride-share giant revealed in an SEC filing.

— Megan Rose Dickey

Deal of the week

money the station

Chinese electric vehicle startup Nio secured a $1 billion investment from several state-owned companies in Hefei in return for agreeing to establish headquarters in the city’s economic development hotspot and giving up a stake in one of its business units.

The injection of capital comes from several investors, including Hefei City Construction and Investment Holding Group, CMG-SDIC Capital and Anhui Provincial Emerging Industry Investment Co.

Why deal of the week? The deal alleviates some concerns about Nio’s liquidity. It also marks the latest Chinese EV startup to turn to the state as private capital has shrunk.

There is no free lunch, however. The deal itself is complex and involves some asset shuffling. Nio is transferring its core businesses in China into a new company called Nio China. The investors will get a 24.1% stake in Nio China. The shareholding structure of the parent company is unchanged.

Other deals announced this week are below. Keep in mind that just because a deal is announced that doesn’t mean it closed amid the COVID-19 pandemic. Fundraising rounds often close weeks and even months before they’re announced.

Otonomo, an automotive data services startup based in Israel, raised $46 million in a Series C funding round that included investments from SK Holdings, Avis Budget Group and Alliance Ventures. Existing investors Bessemer Venture Partners also participated. Otonomo has raised $82 million, to date.

The company has a software platform that captures and anonymizes vehicle data so it can then be used to create apps to provide services such as electric vehicle management, subscription-based fueling, parking, mapping, usage-based insurance and emergency service.

KlearNow, a startup that has built a software platform to automate the customs clearance process, raised $16 million in a Series A funding round led by GreatPoint Ventures, with additional participation from Autotech Ventures, Argean Capital and Monta Vista Capital. Ashok Krishnamurthi, managing partner at GreatPoint Ventures, will join KlearNow’s board. Daniel Hoffer from Autotech Ventures is joining as a board observer.

Skycell, a Switzerland-based startup that builds hardware and operates a logistics network designed to transport pharmaceuticals has raised $62 million.

A merger between UK’s JustEat and the Netherlands’ Takeaway.com has been approved by regulators. The merged company announced that it had raised €700 million ($756 million) in new outside funding in the form of new shares and convertible bonds.

Cheetah, a San Francisco-based startup that provided a wholesale delivery service and has pivoted to selling to consumers during COVID-19, raised $36 million in Series B funding.

Innovation of the week

Computer vision company Eyesight Technologies has tweaked its driver monitoring system so it can detect driver distraction and drowsiness even while wearing a medical face mask.

This “innovation of the week” gets back to my opening remarks about “how” we get back to work. Face masks will likely be a part of our world for some time.

Driver monitoring systems, which are increasingly being used by commercial fleets, are trained to detect and monitor facial features of the driver. The system will take in data points like head pose, mouth, eyes and eyelids and use the gathered visual data to detect signs of drowsiness and distraction. If the sensor can’t read one or more of these features the system could fail to detect a drowsy truck driver or inattentive transit worker.

Driver Monitoring with mask

Eyesight Technologies

Eyesight Technologies says that its computer vision and AI algorithms have been trained to detect distraction and drowsiness even if a driver is wearing a mask and glasses.

“We are living in unprecedented times,” Eyesight Technologies CEO David Tolub said. “Without a concrete end date to the current situation, wearing medical masks may be a reality for the foreseeable future. Eyesight Technologies is forging ahead and adapting to provide a reliable solution to help guarantee safety even under less than ideal circumstances.”

Audi punts on Level 3

Audi has scrapped plans to roll out a Level 3 automated driving system in its A8 flagship sedan. Automotive News Europe broke the story.

The feature, which is branded Traffic Jam Pilot, theoretically allows the vehicle to operate on its own without the human driver keeping their eyes on the road. But it’s never been commercially deployed.

Traffic Jam Pilot was supposed to be in the latest-generation A8 that debuted in 2017. It’s now 2020. What happened? Regulations, or lack of them, have been the primary scapegoat. But it’s not quite the whole story.

TechCrunch reached out to Audi to dig into why? In short, the company told us, that it’s complicated. The lack of a legal framework has raised concerns about liability. To further complicate the problem, the A8 is now progressing through its generational life cycle. And Audi was faced with continuing to pour money into the feature to adapt it without promise of framework progressing.

Here’s a few tidbits from the folks at Audi.

On the legal framework:

As of now, there is no legal framework for Level 3 automated driving. Consistently it is not possible to homologate such function anywhere in the world in a series production car. It is still very challenging to plan the exact introduction scenarios for level 3 systems, as we continuously moving in an intensive interplay between the findings from ongoing testing and the requirements that legislators and approval authorities are now defining for conditional automated driving.

On development costs:

As these clarifications and safeguards continue to take time, we also monitor economic aspects in addition. This includes development costs, which are summing up continuously. Secondly, the remaining life of the determined target model A8 combined with the forecasted installation rate and the expected market greediness in the individual countries are playing an important role.

This has brought us to the following decision: We will not see the traffic jam pilot on the road with its originally planned level 3 series function in the current model generation of the Audi A8 because our luxury sedan has already gone through a substantial part of its model life cycle.

Audi’s belief in automated driving:

We still believe in the technology of automated driving and today we know better than almost anyone when it comes to the decisive technological key factors. During the development phase we continuously learned more and more technical “unknown unknowns” and developed approaches how to handle the fact, that there will appear more.

Together with the above mentioned dependencies concerning legislation and type approval, we believe that actually it is not the right moment to deliver the function to the customer. This is our attitude of responsibility.

How Audi is moving forward:

An important part of the truth, which the industry is now facing: development of automated driving is extremely complex and cost-intensive. Our aim more than ever before is to generate the greatest possible synergies.

Within the VW group we therefore have the best preconditions. We have consolidated our efforts to further develop level 3 automated driving in the Car.Software organization. This is a new organization within the Volkswagen Group .

Former Audi managers will be head of two out of the five domains within this new organization: Thomas Müller will manage the automated driving area, and Dr. Klaus Büttner will manage the Intelligent Body&Cockpit area. Together with the specialists coming from Audi, Volkswagen and Porsche, this ensures that the current expertise in this cross-brand organization is available for the greatest possible benefit to everyone in the Volkswagen Group.

#audi, #audi-a8, #austin, #automation, #automotive, #autotech-ventures, #baltimore, #bessemer-venture-partners, #cars, #chief-technology-officer, #china, #covid-19, #driver, #ford, #greatpoint-ventures, #here, #israel, #kirsten-korosec, #klearnow, #labor-day, #lyft, #monta-vista-capital, #netherlands, #oakland, #otonomo, #pharmaceuticals, #pilot, #porsche, #san-francisco, #san-jose, #sedans, #skycell, #software-platform, #takeaway-com, #techcrunch, #thuan-pham, #transportation, #travis-kalanick, #u-s-securities-and-exchange-commission, #uber, #united-kingdom, #united-states, #utah, #volkswagen, #volkswagen-group, #vw-group

KlearNow raises $16 million to bring customs clearance industry into the digital age

Customs is the sieve of international supply chains. And yet despite its critical role, clearing customs for freight brokers can be a slow and opaque process reliant on manual data entry and prone to errors.

Silicon Valley-based KlearNow has developed a platform that aims to bring customs clearance into the digital age. Now, with $16 million new funding, KlearNow aims to expand its geographic reach and to improve its product to cover increasingly complex export-import verticals and time-sensitive shipments.

The company has certification to handle any import into the U.S., no matter what the commodity is. KlearNow is close to getting certified in Canada and UK, and plans to expand to Netherlands, Belgium, Spain and Germany. KlearNow has about two dozen customers.

The Series A funding round was led by GreatPoint Ventures with additional participation from Autotech Ventures, Argean Capital and Monta Vista Capital . Ashok Krishnamurthi, managing partner at GreatPoint Ventures, will join KlearNow’s board. Daniel Hoffer from Autotech Ventures joining as a board observer.

“This is a significant opportunity to transform an archaic industry that is key to global commerce,” Krishnamurthi said in a statement.

The freight ecosystem is filled with different players from the factories and port authorities to the ship liners and the last-mile delivery companies. Each of them have their own systems.

“There’s no one system that you can transmit the data to,” KlearNow founder and CEO Sam Tyagi said in a recent interview. “So everybody dumps technology down to a PDF or a PNG or some sort of format that everybody can read. The broker gets those documents, and then they print it out — so now they become non-digital.”

If you go to any customs brokers office they look like the old doctor’s office where all those folders are there with nicely arranged, really organized but very manual process,” he added. From here, Tyagi said, a broker will read off from those printed out documents and type the information into another system that is communicated to Customs and Border Patrol’s system.

“It is very manual, it’s very small, and they work in a siloed system,” Tyagi said. “There is no visibility for the customer, or the importer and it’s very costly because of the manual intervention.”

KlearNow developed a digital customs clearance platform that aims to be agnostic. This allows importers, customs brokers and freight forwarders to integrate with local customs authorities and conduct business on a single digital platform remotely and in real time. The platform automates this process to eliminate errors and reduces the time to clear customs. KlearNow says it can slash customs clearance times from hours to minutes.

The startup is also betting that its platform will find new customers in this remote work era that was caused by the COVID-19 pandemic. Custom brokers, who might normally travel into central offices and manage physical paperwork, are now faced with completing that task from home.

“Remote work is impossible for these people,” because they often need to access large format printers, Tyagi said. 

The company said its digital platform can funnel new clients, like these newly remote workers, directly to brokers for global customs clearance.

Tyagi said the company has also added new capabilities in response to COVId-19, such as expediting their FDA module to clear much-needed medical supplies and is temporarily offering free clearance for non-profit organizations that are importing masks, hand sanitizers, and ventilators.

#autotech-ventures, #belgium, #broker, #canada, #ceo, #customs, #economy, #fda, #germany, #greatpoint-ventures, #logistics, #monta-vista-capital, #netherlands, #silicon-valley, #spain, #tc, #transportation, #united-kingdom, #united-states