App Annie and co-founder charged with securities fraud, will pay $10M+ settlement

The U.S. Securities and Exchange Commission (SEC) has charged App Annie, a leading mobile data and analytics firm, as well as its co-founder and former CEO and Chairman Bertrand Schmitt, with securities fraud. App Annie and Schmitt have agreed to pay over $10 million to settle the fraud charges which are related to “deceptive practices and making material misrepresentations about how App Annie’s alternative data was derived,” the SEC said.

App Annie is one of the largest sellers of mobile app performance data, offering details that are useful to developers, publishers, advertisers, and marketers — like how many times an app is downloaded, how often it’s used, the revenue it generates, and other competitive analysis and insights. This is what trading firms call “alternative data,” because it’s not detailed in their financial statements or other traditional data sources, the SEC explains. App Annie told app makers it would not disclose their data to third parties directly, but would rather use the data in an aggregated and anonymized way to provide app insights. Specifically, companies were told the data would be used to build a statistical model to generate estimates of app performance.

However, the SEC says from late 2014 through mid-2018, App Annie used non-aggregated and non-anonymized data to alter its model-generated estimates in order to make them more valuable to sell to trading firms. It also says that the company and Schmitt then misrepresented to its customers how it was able to generate the data, saying it did so with the appropriate consent from customers, and that it had effective internal controls to prevent the misuse of confidential data, ensuring it was in compliance with federal securities laws. Trading firms were making investment decisions based on this data and App Annie had even shared ideas as to how they could use the estimates to trading ahead of earnings announcements.

In the full complaint, the SEC further explains Schmitt had agreed to an internal policy where certain public company “Connect Data” — “Connect” being App Annies’ analytics product — would be excluded from its statistical model in late 2014. But he didn’t actually direct anyone at App Annie to document this policy until April 2017. And then when it was documented, it only said to exclude app revenue data from public companies whose app revenue exceeded 5% of the company’s total revenue. It never said to exclude app download or usage data.

The SEC says the documented policy was never properly enforced. It wasn’t until after App Annie learned of the SEC investigation in June 2018 that it amended the policy to exclude public company Connect Data from its estimate generation process, and began to fully implement the policy.

The investigation also discovered that App Annie engineers in Beijing, China were directed by Schmitt to manually alter estimates that would be of most interest to the company’s highest-paying customers. It did so by looking at the confidential Connect Data, which is one of the ways its estimates were able to be more accurate than rivals.

“The federal securities laws prohibit deceptive conduct and material misrepresentations in connection with the purchase or sale of securities,” said Gurbir S. Grewal, Director of the SEC’s Enforcement Division, in a statement. “Here, App Annie and Schmitt lied to companies about how their confidential data was being used and then not only sold the manipulated estimates to their trading firm customers, but also encouraged them to trade on those estimates—often touting how closely they correlated with the companies’ true performance and stock prices,” Grewal added.

The SEC says App Annie and Schmitt violated the anti-fraud provisions of Section 10(b) of the Exchange Act and Rule 10b-5. App Annie, without either admitting or denying the findings, consented to a cease-and-desist order and is paying a penalty. App Annie agreed to pay a penalty of $10 million. Meanwhile, Schmitt is ordered to pay a penalty of $300,000 and is prohibited from serving as an officer or director of a public company for three years.

Reached for comment, App Annie’s current CEO provided a statement:

“Since I have taken over as CEO, we have established a new standard of trust and transparency for the newly created alternative data market. App Annie is uniquely positioned to be the first to deliver on a unified data AI vision,” said Theodore Krantz, CEO at App Annie. “Many businesses may be unknowingly leveraging data reliant on confidential public company information without explicit consent which we believe puts companies using digital/mobile market data at significant risk. It is our opinion that the entire alternative data space needs to be regulated.”

In a newsroom post, the company also pointed out that the SEC investigation does not relate to its “current products,” nor did it relate to “our current relationships with customers.” And it says in the three years since the violating practices, it has appointed a new CEO and executive team, changed how it built its data estimates, and established a company-wide “culture of compliance,” which included the appointment of a Head of Global Compliance. It also documented its procedures for ensuring confidential data is excluded from its process of generating market estimates.

App Annie’s mobile market data solution was one of the first to serve the growing app ecosystem when it launched in 2010. Today, its firm counts more than 1,100 enterprise clients and over a million registered users, according to its corporate website.

The details of the complaint and settlement are below.

This story is breaking and may be updated. 

 

#app-annie, #app-store, #apps, #beijing, #ceo, #china, #co-founder, #computing, #director, #mobile-app, #officer, #software, #u-s-securities-and-exchange-commission

Square to buy ‘buy now, pay later’ giant Afterpay in $29B deal

In a blockbuster deal that rocks the fintech world, Square announced today that it is acquiring Australian buy now, pay later giant Afterpay in a $29 billion all-stock deal.

The purchase price is based on the closing price of Square common stock on July 30, which was $247.26. The transaction is expected to close in the first quarter of 2022, contingent upon certain closing conditions. It values Afterpay at more than 30% premium to its latest closing price of A$96.66.

Square co-founder and CEO Jack Dorsey said in a statement that the two fintech behemoths “have a shared purpose.”

“We built our business to make the financial system more fair, accessible, and inclusive, and Afterpay has built a trusted brand aligned with those principles,” he said in the statement. “Together, we can better connect our Cash App and Seller ecosystems to deliver even more compelling products and services for merchants and consumers, putting the power back in their hands.”

The combination of the two companies would create a payments giant unlike any other. Over the past 18 months, the buy now, pay later space has essentially exploded, appealing especially to younger generations drawn to the idea of not using credit cards or paying interest and instead opting for the installment loans, which have become ubiquitous online and in retail stores.

As of June 30, Afterpay served more than 16 million consumers and nearly 100,000 merchants globally, including major retailers across industries such as fashion, homewares, beauty and sporting goods, among others.

The addition of Afterpay, the companies’ statement said, will “accelerate Square’s strategic priorities” for its Seller and Cash App ecosystems. Square plans to integrate Afterpay into its existing Seller and Cash App business units, so that even “the smallest of merchants” can offer buy now, pay later at checkout. The integration will also give Afterpay consumers the ability to manage their installment payments directly in Cash App. Cash App customers will be able to find merchants and buy now, pay later (BNPL) offers directly within the app.

Afterpay’s co-founders and co-CEOs Anthony Eisen and Nick Molnar will join Square upon closure of the deal and help lead Afterpay’s respective merchant and consumer businesses. Square said it will appoint one Afterpay director to its board.

Shareholders of Afterpay will get 0.375 shares of Square Class A stock for every share they own. This implies a price of about A$126.21 per share based on Square’s Friday close, according to the companies.

Will there be more consolidation in the space? That remains to be seen, and Twitter is all certainly abuzz about what deals could be next. Here in the U.S., rival Affirm went public earlier this year. On July 30, shares closed at $56.32, significantly lower than its opening price and 52-week-high of $146.90. Meanwhile, European competitor Klarna — which is growing rapidly in the U.S. — in June raised another $639 million at a staggering post-money valuation of $45.6 billion.

No doubt the BNPL fight for the U.S. consumer is only heating up with this deal.

#afterpay, #apps, #buy-now, #cash-app, #credit-card, #director, #finance, #financial-services, #fintech, #jack-dorsey, #klarna, #online-payments, #online-shopping, #pay-later, #payments, #square, #tc, #twitter, #united-states, #up

DNSFilter secures $30M Series A to step up fight against DNS-based threats

DNSFilter, an artificial intelligence startup that provides DNS protection to enterprises, has secured $30 million in Series A funding from Insight Partners.

DNSFilter, as its name suggests, offers DNS-based web content filtering and threat protection. Unlike the majority of its competitors, which includes the likes of Palo Alto Networks and Webroot, the startup uses proprietary AI technology to continuously scan billions of domains daily, identifying anomalies and potential vectors for malware, ransomware, phishing, and fraud. 

“Most of our competitors either rent or lease a database from some third party,” Ken Carnesi, co-founder and CEO of DNSFilter tells TechCrunch. “We do that in-house, and it’s through artificial intelligence that’s scanning these pages in real-time.” 

The company, which counts the likes of Lenovo, Newegg, and Nvidia among its 14,000 customers, claims this industry-first technology catches threats an average of five days before competitors and is capable of identifying 76% of domain-based threats. By the end of 2021, DNSFilter says it will block more than 1.1 million threats daily.

DNSFilter has seen rapid growth over the past 12 months as a result of the mass shift to remote working and the increase in cyber threats and ransomware attacks that followed. The startup saw eightfold growth in customer activity, doubled its global headcount to just over 50 employees, and partnered with Canadian software house N-Able to push into the lucrative channel market.  

“DNSFilter’s rapid growth and efficient customer acquisition are a testament to the benefits and ease of use compared to incumbents,” Thomas Krane, principal at Insight Partners, who has been appointed as a director on DNSFilter’s board. “The traditional model of top-down, hardware-centric network security is disappearing in favor of solutions that readily plug in at the device level and can cater to highly distributed workforces”

Prior to this latest funding round, which was also backed by Arthur Ventures (the lead investor in DNSFilter’s seed round), CrowdStrike co-founder and former chief technology officer  Dmitri Alperovitch also joined DNSFilter’s board of directors. 

Carnesi said the addition of Alperovitch to the board will help the company get its technology into the hands of enterprise customers. “He’s helping us to shape the product to be a good fit for enterprise organizations, which is something that we’re doing as part of this round — shifting focus to be primarily mid-market and enterprise,” he said.

The company also recently added former CrowdStrike vice president Jen Ayers as its chief operating officer. “She used to manage their entire managed threat hunting team, so she’s definitely coming on for the security side of things as we build out our domain intelligence team further,” Carnesi said.

With its newly-raised funds, DNSFilter will further expand its headcount, with plans to add more than 80 new employees globally over the next 12 months.

“There’s a lot more that we can do for security via DNS, and we haven’t really started on that yet,” Carnesi said. “We plan to do things that people won’t believe were possible via DNS.”

The company, which acquired Web Shrinker in 2018, also expects there to be more acquisitions on the cards going forward. “There are some potential companies that we’d be looking to acquire to speed up our advancement in certain areas,” Carnesi said.

#arthur-ventures, #artificial-intelligence, #co-founder, #computing, #coo, #crowdstrike, #cto, #cyberwarfare, #director, #dns, #funding, #information-technology, #insight-partners, #lenovo, #newegg, #nvidia, #palo-alto-networks, #ransomware, #security, #startup-company, #techcrunch, #vp, #webroot

Opioid addiction treatment apps found sharing sensitive data with third parties

Several widely used opioid treatment recovery apps are accessing and sharing sensitive user data with third parties, a new investigation has found.

As a result of the COVID-19 pandemic and efforts to reduce transmission in the U.S, telehealth services and apps offering opioid addiction treatment have surged in popularity. This rise of app-based services comes as addiction treatment facilities face budget cuts and closures, which has seen both investor and government interest turn to telehealth as a tool to combat the growing addiction crisis.

While people accessing these services may have a reasonable expectation of privacy of their healthcare data, a new report from ExpressVPN’s Digital Security Lab, compiled in conjunction with the Opioid Policy Institute and the Defensive Lab Agency, found that some of these apps collect and share sensitive information with third parties, raising questions about their privacy and security practices.

The report studied 10 opioid treatment apps available on Android: Bicycle Health, Boulder Care, Confidant Health. DynamiCare Health, Kaden Health, Loosid, Pear Reset-O, PursueCare, Sober Grid, and Workit Health. These apps have been installed at least 180,000 times, and have received more than $300 million in funding from investment groups and the federal government.

Despite the vast reach and sensitive nature of these services, the research found that the majority of the apps accessed unique identifiers about the user’s device and, in some cases, shared that data with third parties.

Of the 10 apps studied, seven access the Android Advertising ID (AAID), a user-generated identifier that can be linked to other information to provide insights into identifiable individuals. Five of the apps also access the devices’ phone number; three access the device’s unique IMEI and IMSI numbers, which can also be used to uniquely identify a person’s device; and two access a users’ list of installed apps, which the researchers say can be used to build a “fingerprint” of a user to track their activities.

Many of the apps examined are also obtaining location information in some form, which when correlated with these unique identifiers, strengthens the capability for surveilling an individual person, as well as their daily habits, behaviors, and who they interact with. One of the methods the apps are doing this is through Bluetooth; seven of the apps request permission to make Bluetooth connections, which the researchers say is particularly worrying due to the fact this can be used to track users in real-world locations.

“Bluetooth can do what I call proximity tracking, so if you’re in the grocery store, it knows how long you’re in a certain aisle, or how close you are to someone else,” Sean O’Brien, principal researcher at ExpressVPN’s Digital Security Lab who led the investigation, told TechCrunch. “Bluetooth is an area that I’m pretty concerned about.”

Another major area of concern is the use of tracker SDKs in these apps, which O’Brien previously warned about in a recent investigation that revealed that hundreds of Android apps were sending granular user location data to X-Mode, a data broker known to sell location data to U.S. military contractors, and now banned from both Apple and Google’s app stores. SDKs, or software development kits, are bundles of code that are included with apps to make them work properly, such as collecting location data. Often, SDKs are provided for free in exchange for sending back the data that the apps collect.

“Confidentiality continues to be one of the major concerns that people cite for not entering treatment… existing privacy laws are totally not up to speed.” Jacqueline Seitz, Legal Action Center

While the researchers keen to point out that it does not categorize all usage of trackers as malicious, particularly as many developers may not even be aware of their existence within their apps, they discovered a high prevalence of tracker SDKs in seven out of the 10 apps that revealed potential data-sharing activity. Some SDKs are designed specifically to collect and aggregate user data; this is true even where the SDK’s core functionality is concerned.

But the researchers explain that an app, which provides navigation to a recovery center, for example, may also be tracking a user’s movements throughout the day and sending that data back to the app’s developers and third parties.

In the case of Kaden Health, Stripe — which is used for payment services within the app — can read the list of installed apps on a user’s phone, their location, phone number, and carrier name, as well as their AAID, IP address, IMEI, IMSI, and SIM serial number.

“An entity as large as Stripe having an app share that information directly is pretty alarming. It’s worrisome to me because I know that information could be very useful for law enforcement,” O’Brien tells TechCrunch. “I also worry that people having information about who has been in treatment will eventually make its way into decisions about health insurance and people getting jobs.”

The data-sharing practices of these apps are likely a consequence of these services being developed in an environment of unclear U.S. federal guidance regarding the handling and disclosure of patient information, the researchers say, though O’Brien tells TechCrunch that the actions could be in breach of 42 CFR Part 2, a law that outlines strong controls over disclosure of patient information related to treatment for addiction.

Jacqueline Seitz, a senior staff attorney for health privacy at Legal Action Center, however, said this 40-year-old law hasn’t yet been updated to recognize apps.

“Confidentiality continues to be one of the major concerns that people cite for not entering treatment,” Seitz told TechCrunch. “While 42 CFR Part 2 recognizes the very sensitive nature of substance use disorder treatment, it doesn’t mention apps at all. Existing privacy laws are totally not up to speed.

“It would be great to see some leadership from the tech community to establish some basic standards and recognize that they’re collecting super-sensitive information so that patients aren’t left in the middle of a health crisis trying to navigate privacy policies,” said Seitz.

Another likely reason for these practices is a lack of security and data privacy staff, according to Jonathan Stoltman, director at Opioid Policy Institute, which contributed to the research. “If you look at a hospital’s website, you’ll see a chief information officer, a chief privacy officer, or a chief security officer that’s in charge of physical security and data security,” he tells TechCrunch. “None of these startups have that.”

“There’s no way you’re thinking about privacy if you’re collecting the AAID, and almost all of these apps are doing that from the get-go,” Stoltman added.

Google is aware of ExpressVPN’s findings but has yet to comment. However, the report has been released as the tech giant prepares to start limiting developer access to the Android Advertising ID, mirroring Apple’s recent efforts to enable users to opt out of ad tracking.

While ExpressVPN is keen to make patients aware that these apps may violate expectations of privacy, it also stresses the central role that addiction treatment and recovery apps may play in the lives of those with opioid addiction. It recommends that if you or a family member used one of these services and find the disclosure of this data to be problematic, contact the Office of Civil Rights through Health and Human Services to file a formal complaint.

“The bottom line is this is a general problem with the app economy, and we’re watching telehealth become part of that, so we need to be very careful and cautious,” said O’Brien. “There needs to be disclosure, users need to be aware, and they need to demand better.”

Recovery from addiction is possible. For help, please call the free and confidential treatment referral hotline (1-800-662-HELP) or visit findtreatment.gov.

Read more:

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Apple and Snap partner JigSpace, the ‘Canva for 3D,’ raises a $4.7M Series A

When former Art Director Zac Duff started teaching a game development course online in 2015, he faced the same challenges that teachers around the globe have become all too familiar with after a pandemic-induced lockdown. So, he used his experience in 3D design to build a virtual reality classroom to make remote learning more engaging for his students. Instead of entering yet another Zoom lecture, the school gave students VR headsets to transport themselves to the Ancient Greek-inspired classroom that Duff built.

Still, Duff knew that this learning model couldn’t be easily scaled — most schools don’t have VR headsets to send out, and most teachers don’t have over a decade of game design experience to whip up a classroom with green fields and butterflies (yes, Duff made that). But he saw that there was potential for a user-friendly program that lets anyone create 3D presentations and share information in AR.

“Right at the center of it is knowledge transfer. It’s about one person giving knowledge to another person in a really effective way,” Duff told TechCrunch. He referenced products like Microsoft Powerpoint and Canva, which make it easy for the average user to create presentations and graphics that communicate their ideas. “We have those systems in 2D, but in 3D, we just didn’t have it, and it was a really complex, expensive technical process that you had to go through to build anything, and that stuck with me.”

Image Credits: JigSpace

Soon after, Duff took a Friday off from work to outline the company that would become JigSpace, which is poised to set the standard for knowledge-sharing in 3D. After launching in 2017, the JigSpace platform now has over 4 million users with a 4.8 average rating on the App Store. When you download the JigSpace app, you can interact in AR with 3D models that show how to fix a leaky sink, repair a dry wall, or even build a Lego Star Wars spacecraft. There are also educational models, or Jigs, that show how a piano works, the anatomy of the human eye, and even how the coronavirus spreads. The potential use cases for JigSpace are expansive — Duff says he hopes to work with manufacturing companies to have them make Jigs of their products. That way, let’s say you want to replace your AC filter, you can look at a 3D model in AR, rather than a black and white 2D drawing in an instruction booklet.

Today, JigSpace announced that it raised $4.7 million in Series A funding led by Rampersand, with Investible and new investors including Vulpes, and Roger Allen AM, also participating. The JigSpace app is free to use, and anyone can combine presets and templates of 3D modeled objects to create their own Jigs — the more tech savvy among us can upload up to 30 MB of files to make more customized Jigs on the free version. But the money-maker for Jigspace is its Jig Pro platform, which is designed for commercial businesses and manufacturers. Jig Pro‘s subscription for individuals is $49 per month, while the price of the enterprise offering isn’t listed online.

Image Credits: JigSpace

“The best area for us has been in durable manufacturing, because almost all manufacturing products have CAD files, so the 3D already exists,” said Duff. “Then, we’re able to work with those companies to give them the tools to create knowledge material around their products.”

Right after JigSpace launched its Pro version, it was featured in Apple’s iPhone 12 Keynote, demonstrating how the iPhone 12’s LiDAR scanner and 5G capabilities could be used to save time and money in manufacturing. JigSpace also partnered with Snapchat to create a Lens that allows you to scan kitchen items to reveal 3D Jigs that show how stuff works, from your microwave to your coffee maker.

Jig Pro’s customer base has grown 40% month-on-month since it launched in mid-2020, with the average user logging into the app at least once per day. Companies like Verizon, Volkswagen, Medtronic, and Thermo Fisher Scientific use JigSpace to develop 3D models to present to stakeholders, customers, and remote colleagues. Especially as products like Apple’s Capture emerge, it will become even easier for people to import their own 3D models into JigSpace.

Despite its commercial potential, it’s important to Duff that JigSpace always retains a free version that makes learning through AR easy.

“We want to make sure that all of the people with information they want to share, those are the people we serve, not just the technical people at the top,” Duff says. “From the beginning, my co-founder Numa Bertron and I always wanted to have a free version. Knowledge should be accessible to people in the best way possible, and there’s no reason why it shouldn’t be.”

#3d-imaging, #3d-modeling, #app-store, #apple-inc, #apps, #arkansas, #augmented-reality, #cad, #canva, #co-founder, #coffee-maker, #computing, #director, #funding, #iphone, #itunes, #jig, #manufacturing, #medtronic, #microwave, #smartphones, #snapchat, #technology, #thermo-fisher-scientific, #tools, #verizon, #virtual-reality, #volkswagen

Atomic-backed Jumpcut uses data to advance diversity in film

Jumpcut founder Kartik Hosanagar is a professor at the Wharton School, but about ten years ago, he spent his summer in an unlikely way: he wrote a screenplay. Set in India, his script garnered some interest from producers, but no one took the plunge to fund a film by a first-time Indian director.

Now, films featuring diverse casts are gaining traction – this year, Chloé Zhao became the first woman of color, and only the second woman ever, to win the Academy Award for Best Director. At the previous ceremony, Bong Joon-ho’s “Parasite” became the first non-English language film to win the Academy Award for Best Picture. Still, according to a recent report from McKinsey & Company, Hollywood leaves $10 billion on the table each year due to the industry’s lack of diversity.

“How do you make a bet on underrepresented voices or underrepresented stories?” asked Hosanagar. “While there’s awareness, there’s no action, because nobody knows how to do it. So that’s what got me into Jumpcut. It’s this rare company where 20 years of my work on data science and entrepreneurship meets with who I am outside of my work.”

At Wharton, Hosanagar is the Faculty Lead for the AI for Business program. He was a founder of Yodle, which was acquired by web.com for $340 million in 2016. But for this next venture, he wanted to tackle Hollywood’s homogeneity hands-on by using his experience with data science to de-risk media projects from underrepresented creators.

“The vision is to create a more inclusive era of global content creation,” he said to TechCrunch.

Hosanagar started working on Jumpcut in 2019, but today, the Atomic-backed company launches out of stealth as the first data science-driven studio working to elevate underrepresented voices in film. Already the studio has 12 TV and film projects in the works with partners like 36-time Academy Award nominee Lawrence Bender (“Pulp Fiction,” “Good Will Hunting”), Emmy Award-winning producer Shelby Stone (“Bessie,” “The Chi”), and showrunner Scott Rosenbaum (“Chuck,” “The Shield”).

Jumpcut models itself after Y-Combinator in its approach, pairing emerging talent with buyers and producers. First, Jumpcut uses an algorithm to scan hundreds of thousands of videos from platforms like YouTube, Reddit, and Wattpad to find promising talent. The algorithm narrows down the extensive field to locate creators who are consistently finding new audiences and increasing their engagement. Then, the Jumpcut team – including advisors and veterans from Netflix, Buzzfeed, CBS, Sony, and WarnerMedia – identifies who to connect with.

In one example of the algorithm’s success, Hosanagar pointed to Anna Hopkins, an actress who has appeared on shows like “The Expanse” and “Shadowhunters.” Though Hopkins has found some success in front of the camera, she also wants to write.

“We discovered some of her short films, and the algorithm identified it because people had strong emotional reactions in the comments, like, ‘heartwarming but in a positive way,’ or ‘give me a tissue,’” Hosanagar explained. Since Hopkins isn’t publicly known as a writer, she assumed that Jumpcut found her through a television network she had pitched a script to, but that wasn’t the case. “We said, ‘no, our algorithms found you.’”

Once a creator is identified by Jumpcut, they can A/B test their ideas with audiences of over 100,000 potential viewers, which helps the company prove to funders through data science that these ideas can sell.

“The idea there is that we don’t wait for creators to get discovered by the traditional Hollywood agencies, because that requires the creators to have access to the top agents, and that again brings you back to the old boys club,” Hosanagar said. “We’re automating a lot of that process and discovering these people who are creating great stories that are resonating with audiences, not waiting for some Hollywood agency to discover them.”

Once the creators have an idea that tests well with a wide audience, they’re invited to Jumpcut Collective, an incubator program that helps artists develop an idea from a concept to a pitch in 6 weeks. Then, Jumpcut helps match projects with producing partners and buyers.

So far, Jumpcut has hosted three incubator programs. Out of the twelve Jumpcut projects currently underway, Hosanagar says that nine or ten of them came out of the incubator. One project, for example, is now being developed in partnership with Disney’s Asia Pacific Division.

Jumpcut isn’t disclosing the amount raised in this round of seed funding, but confirms that Atomic is the only investor in their seed round.

Hosanagar is joined on the project by Dilip Rajan, his former student and a former product manager at BuzzFeed, and Winnie Kemp, a former SVP of Originals at Super Deluxe and CBS. There, she developed and executive produced “Chambers,” the first show with a Native American lead, and “This Close,” the first show with deaf creators and cast. Most of their funding will go toward payroll, which includes engineers, data scientists, and product managers on the product side of the company, as well as development executives on the creative side, who run the incubator.

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Croatia’s Gideon Brothers raises $31M for its 
3D vision-enabled autonomous warehouse robots

Proving that Central and Eastern Europe remains a powerhouse of hardware engineering matched with software, Gideon Brothers (GB), a Zagreb, Croatia-based robotics and AI startup, has raised a $31 million Series A round led by Koch Disruptive Technologies (KDT), the venture and growth arm of Koch Industries Inc., with participation from DB Schenker, Prologis Ventures, and Rite-Hite.

The round also includes participation from several of Gideon Brothers’ existing backers: Taavet Hinrikus (co-founder of TransferWise), Pentland Ventures, Peaksjah, HCVC (Hardware Club), Ivan Topčić, Nenad Bakić, and Luca Ascani.

The investment will be used to accelerate the development and commercialization of GB’s AI and 3D vision-based ‘autonomous mobile robots’ or ‘AMRs’. These perform simple tasks such as transporting, picking up, and dropping off products in order to free up humans to perform more valuable tasks.

The company will also expand its operations in the EU and US by opening offices in Munich, Germany and Boston, Massachusetts, respectively.

Gideon Brothers founders

Gideon Brothers founders

Gideon Brothers make robots and the accompanying software platform that specializes in horizontal and vertical handling processes for logistics, warehousing, manufacturing, and retail businesses. For obvious reasons, the need to roboticize supply chains has exploded during the pandemic.

Matija Kopić, CEO of Gideon Brothers, said: “The pandemic has greatly accelerated the adoption of smart automation, and we are ready to meet the unprecedented market demand. The best way to do it is by marrying our proprietary solutions with the largest, most demanding customers out there. Our strategic partners have real challenges that our robots are already solving, and, with us, they’re seizing the incredible opportunity right now to effect robotic-powered change to some of the world’s most innovative organizations.”

He added: “Partnering with these forward-thinking industry leaders will help us expand our global footprint, but we will always stay true to our Croatian roots. That is our superpower. The Croatian start-up scene is growing exponentially and we want to unlock further opportunities for our country to become a robotics & AI powerhouse.”

Annant Patel, Director at Koch Disruptive Technologies said: “With more than 300 Koch operations and production units globally, KDT recognizes the unique capabilities of and potential for Gideon Brothers’ technology to substantially transform how businesses can approach warehouse and manufacturing processes through cutting edge AI and 3D AMR technology.”

Xavier Garijo, Member of the Board of Management for Contract Logistics, DB Schenker added: “Our partnership with Gideon Brothers secures our access to best in class robotics and intelligent material handling solutions to serve our customers in the most efficient way.”

GB’s competitors include Seegrid, Teradyne (MiR), Vecna Robotics, Fetch Robotics, AutoGuide Mobile Robots, Geek+ and Otto Motors.

#articles, #artificial-intelligence, #boston, #central-europe, #ceo, #co-founder, #croatia, #db-schenker, #director, #eastern-europe, #europe, #european-union, #fetch-robotics, #geek, #germany, #gideon-brothers, #hardware-club, #koch-disruptive-technologies, #manufacturing, #massachusetts, #munich, #otto-motors, #robot, #robotics, #science-and-technology, #software-platform, #taavet-hinrikus, #tc, #teradyne, #transferwise, #united-states, #zagreb

Experts from Toyota, Ford and Hyundai will discuss automotive robotics at TC Sessions: Mobility

The events of the past year have only served to accelerate interest in all things robotics and automation. It’s a phenomenon we’ve seen across a broad range of categories, and automotive is certainly no different.

Of course, carmakers are no strangers to the world of robotics. Automation has long played a key role in manufacturing, and more recently, robotics have played another central role in the form of self-driving vehicles. For this panel, however, we’re going to look past those much-discussed categories. Of late, carmakers have been investing heavily to further fuel innovation in the category.

It’s a fascinating space – and one that covers a broad range of cross-sections, from TRI’s (Toyota) Woven City project to Ford’s recent creation of a research facility at U of M to Hyundai’s concept cars and acquisition of Boston Dynamics. At TC Sessions: Mobility on June 9, we will be joined by a trio of experts from those companies for what’s sure to be a lively discussion on the topic.

Max Bajracharya is Vice President of Robotics at Toyota Research Institute. Previously serving as its Director of Robotics, he leads TRI’s work in robotics. He previously served at Alphabet’s X, as part of the Google Robotics team.

Mario Santillo is a Technical Expert at Ford. Previously serving as a Research Engineer for the company, he’s charged with helping lead the company’s efforts at a recently announced $75 million research facility at the University of Michigan, Ann Arbor. The work includes both Ford’s own robotics work, as well as partnerships with startups like Agility.

Ernestine Fu is a director at Hyundai Motor Group. She heads development at the newly announced New Horizons Studio, a group tasked with creating Ultimate Mobility Vehicles (UMVs). She also serves as an adjunct professor at Stanford University, where she received a BS, MS, MBA and PhD.

Get ready to talk robots at TC Sessions: Mobility. Grab your passes right now for $125 and hear from today’s biggest mobility leaders before our prices go up at the door.

 

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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.

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Erase All Kittens raises $1M Seed round for Mario-style game which teaches girls to code

Erase All Kittens (EAK) is an EdTech startup that created a ‘Mario-style’ web-based game designed for kids aged 8-12. However, the game has a twist: it places an emphasis on inspiring girls to code (since let’s face it, most coding tools are created by men). After reaching 160,000 players in over 100 countries, it’s now raised a $1M Seed funding led by Twinkl Educational Publishing, with participation from first investor Christian Reyntjens of the A Black Square family office, alongside angel investors, including one of the founders of Shazam.

While the existing EAK game is free, a new game launched in July will be paid for, further boosting the product’s business model.

EAK says its research shows that some 55% of its players are girls, and 95% want to learn more about coding after playing its game. EAK is currently being used in over 3,000 schools, mostly in the UK and US, and its traction increased by 500% during the lockdowns associated with the pandemic.

It’s Erase All Kittens’ contention that coding education tools for children have been largely built by men and so naturally appeal more to boys. With most teaching repetitive coding, in a very rigid, instructional way, it tends to appeal more to boys than girls, says EAK.

The female-founded team has a platform for changing the perception that kids, especially girls, have of coding. After R&D of two years, it came up with a game designed to teach kids and girls as young as 8 skills such as HTML, CSS, and Javascript through highly gamified, story-driven gameplay. Kids get to chat with characters on their journey, for example, a serial entrepreneur unicorn mermaid called Tarquin Glitterquiff.

“Players edit the code that governs the game environment, building and fixing levels as they play in order to save kittens in a fantasy internet universe,” said cofounder Dee Saigal, co-founder, CEO and creative director. Saigal is joined by co-founder Leonie Van Der Linde; CTO Rex Van Der Spuy; Senior Games Developer Jeremy Keen; and 2D Games Artist Mikhail Malkin.

Erase All Kittens game

Erase All Kittens game

The existing game teaches HTML skills and how to create URLs, and the new game (released in July this year) will teach HTML, CSS, and Javascript skills – bridging the huge gap between kids learning the concepts and being able to create on the web like developers.

Said Saigal: “We’re designing a coding game that girls genuinely love – one that places a huge emphasis on creativity. Girls can see instant results as they code, there are different ways to progress through the game, and learning is seamlessly blended with storytelling.”

Saigal said: “When I was younger I wanted to be a games designer. I loved coming up with ideas for games but coding had always seemed like an impossible task. We weren’t taught coding at school, and I couldn’t see anyone who looked like me making games, so I didn’t think it was something I could do.”

“Whilst researching our target audience, we found that one of the biggest obstacles for girls still begins with gender stereotypes from an early age. By the time girls reach school, this snowballs into a lack of confidence in STEM skills and lower expectations from teachers, which in turn can lead to lower performance—a gap that only widens as girls get older.”

EAK’s competitors include Code Kingdoms, Swift Playgrounds and CodeCombat. But Saigal says these games tend to appeal far more to boys than to girls.

The new game (see below) will be sold to schools and parents, globally. EAK will also be carrying out a one-for-one scheme, where for every school account purchased, one will be donated to underserved schools via partnerships with tech companies, educational organizations, and NGOs.

Jonathan Seaton, Co-founder and CEO at Twinkl and Director of TwinklHive, said: “We’re really excited to partner with Erase All Kittens, as a digital company Twinkl recognizes the importance of preparing children to succeed in the digital age and we believe through this partnership we can really make a difference.”

“The team is particularly excited about helping further Erase All Kitten’s mission to empower girls and give them the same opportunities to learn to code and build their own digital creations. Ensuring that all children have equal access to opportunities to learn is at the heart of Twinkl’s vision and a key motivation in the development of this partnership for both organizations.”

Erase All Kittens

Erase All Kittens

Erase All Kittens says it is addressing the global skills gap, where the gender gap is increasingly widening. According to PWC, just 24% of the tech workforce is female and women make up just 12% of all engineers, while only 3% of female students in the UK list tech as their first career choice.

Research by Childwise found that 90% of girls give up on coding after first trying it, and if they lose interest in STEM subject by the age of 11, they never recover from that. This is a huge and growing problem for the tech industry and for investors.

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This Y Combinator startup is taking lab grown meat upscale with elk, lamb, and wagyu beef cell lines

Last week a select group of 20 employees and guests gathered at an event space on the San Francisco Bay, and, while looking out at the Bay Bridge dined on a selection of choice elk sausages, wagyu meatloaf, and lamb burgers — all of which were grown from a petrie dish.

The dinner was a coming out party for Orbillion Bio, a new startup pitching today in Y Combinator’s latest demo day, that’s looking to take lab-grown meats from the supermarket to high end, bespoke butcher shops.

Instead of focusing on pork, chicken and beef, Orbillion is going after so-called heritage meats — the aforementioned elk, lamb, and wagyu beef to start.

By focusing on more expensive end products, Orbillion doesn’t have as much pressure to slash costs as dramatically as other companies in the cellular meat market, the thinking goes.

But there’s more to the technology than its bourgie beef, elite elk, and luscious lamb meat.

“Orbillion uses a unique accelerated development process producing thousands of tiny tissue samples, constantly iterating to find the best tissue and media combinations,” according to Holly Jacobus, whose firm, Joyance Partners, is an early investor in Orbillion. “This is much less expensive and more efficient than traditional methods and will enable them to respond quickly to the impressive demand they’re already experiencing.”

The company runs its multiple cell lines through a system of small bioreactors. Orbillion couples that with a high throughput screening and machine learning software system to build out a database of optimized tissue and media combinations. “The key to making lab grown meat work scalably is choosing the right cells cultured in the most efficient way possible,” Jacobus wrote.

Co-founded by a deeply technical and highly experienced team of executives that’s led by Patricia Bubner, a former researcher at the German pharmaceutical giant Boehringer Ingelheim. Joining Bubner is Gabriel Levesque-Tremblay, a former director of the American Institute of Chemical Engineers, who was a post-doc at Berkeley with Bubner and serves as the company’s chief technology officer. Rounding out the senior leadership is Samet Yildirim, the chief operating officer at Orbillion and a veteran executive of Boehringer Ingelheim (he actually served as Bubner’s boss).

Orbillion Bio co-founders Gabriel Levesque-Tremblay, CTO, Patricia Bubner, CEO, and Samet Yildirim, COO. Image Credit: Orbillion Bio

For Bubner, the focus on heritage meats is as much a function of her background growing up in rural Austria as it is about economics. A longtime, self-described foodie and a nerd, Bubner went into chemistry because she ultimately wanted to apply science to the food business. And she wants Orbillion to make not just meat, but the most delicious meats.

It’s an aim that fits with how many other companies have approached the market when they’re looking to commercialize a novel technology. Higher end products, or products with unique flavor profiles that are unique to the production technologies available are more likely to be commercially viable sooner than those competing with commodity products. Why focus on angus beef when you focus on a much more delicious breed of animal?

For Bubner, it’s not just about making a pork replacement, it’s about making the tastiest pork replacement.

“I’m just fascinated and can see the future in us being able to further change the way we produce food to be more efficient,” she said. “We’re at this inflection point. I’m a nerd, i’m a foodie and I really wanted to use my skills to make a change. I wanted to be part of that group of people that can really have an impact on the way we eat. For me there’s no doubt that a large percentage of our food will be from alternative proteins — plant based, fermentation, and lab-grown meat.”

Joining Boehringer Ingelheim was a way for Bubner to become grounded in the world of big bioprocessing. It was preparation for her foray into lab grown meat, she said.

“We are a product company. Our goal is to make the most flavorful steaks. Our first product will not be whole cuts of steak. The first product is going to be a Wagyu beef product that we plan on putting out in 2023,” Bubner said. “It’s a product that’s going to be based on more of a minced product. Think Wagyu sashimi.”

To get to market, Bubner sees the need not just for a new approach to cultivating choice meats, but a new way of growing other inputs as well, from the tissue scaffolding needed to make larger cuts that resemble traditional cuts of meat, or the fats that will need to be combined with the meat cells to give flavor.

That means there are still opportunities for companies like Future Fields, Matrix Meats, and Turtle Tree Scientific to provide inputs that are integrated into the final, branded product.

Bubner’s also thinking about the supply chain beyond her immediate potential partners in the manufacturing process. “Part of my family were farmers and construction workers and the others were civil engineers and architects. I hold farmers in high respect… and think the people who grow the food and breed the animals don’t get recognition for the work that they do.”

She envisions working in concert with farmers and breeders in a kind of licensing arrangement, potentially, where the owners of the animals that produce the cell lines can share in the rewards of their popularization and wider commercial production.

That also helps in the mission of curbing the emissions associated with big agribusiness and breeding and raising livestock on a massive scale. If you only need a few animals to make the meat, you don’t have the same environmental footprint for the farms.

“We need to make sure that we don’t make the mistakes that we did in the past that we only breed animals for yield and not for flavor,” said Bubner. 

Even though the company is still in its earliest days, it already has one letter of intent, with one of San Francisco’s most famous butchers. Guy Crims, also known as “Guy the Butcher” has signed a letter of intent to stock Orbillion Bio’s lab grown Wagyu in his butcher shop, Bubner said. “He’s very much a proponent of lab-grown meat.”

Now that the company has its initial technology proven, Orbillion is looking to scale rapidly. It will take roughly $3.5 million for the company to get a pilot plant up and running by the end of 2022 and that’s in addition to the small $1.4 million seed round the company has raised from Joyant and firms like VentureSoukh.

“The way i see an integrated model working later on is to have the farmers be the breeders of animals for cultivated meat. That can reduce the number of cows on the planet to a couple of hundred thousand,” Bubner said of her ultimate goal. “There’s a lot of talking about if you do lab grown meat you want to put me out of business. It’s not like we’re going to abolish animal agriculture tomorrow.”

Image Credit: Getty Images

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TC Sessions: Mobility 2021 is coming, save the date!

Buckle up, startup and tech fans. Save the date and get ready to rub virtual elbows with mobility’s best and brightest minds — the movers, shakers and policy makers that are shaping the future of transportation.

TC Sessions: Mobility returns for its third year on June 9, 2021. Can you say mobility three-peat? Yes, you can!

We’re excited to host another day dedicated to the people — and the technology they’re developing — that’s changing transportation. TC Sessions: Mobility 2021 goes beyond hunting for the next unicorn or showcasing the gee-whiz distraction of the moment. We’ll explore the latest trends, discuss regulatory, technical and ethical challenges and look at the costs and long-term effects on towns and cities.

Pro tip: Early bird pricing is now in play on all pass levels and June will be here before you know it. Keep your hard-earned money in your pocket. Buy your passes now and save 35% before the prices increase.

We’re building out the day’s agenda, and we’ll pack it with presentations, interviews and Q&As with founders, investors and inventors. Enjoy breakout sessions, dozens of exhibiting startups and plenty of time to network and recruit — with attendees from around the world.

Take a look at some of the mobility mavens and transportation titans who joined us on the virtual stage at last year’s event to get a sense of the quality programming you should expect on June 9.

  • JB Straubel, co-founder, CEO of Redwood Materials, co-founder and former Tesla CTO
  • Tekedra Mawakana, COO, Waymo
  • Matthew Johnson-Roberson, co-founder, Refraction AI
  • Nancy Sun, co-founder and chief engineer, Ike
  • Shin-pei Tsay, director of policy, cities and transportation, Uber
  • Peter Rawlinson, CTO and CEO, Lucid Motors
  • Margaret Stewart Nagle, head of policy and government affairs, Wing
  • Paul Ajegba, director, Michigan Department of Transportation
  • Celina Mikolajczak, vice president, battery technology, Panasonic Energy of North America, Panasonic
  • Reilly Brennan, founding general partner, Trucks Venture Capital

Will you benefit from attending TC Sessions: Mobility 2021? Take it from Rachael Wilcox, creative producer at Volvo Cars, who completed a TechCrunch hat trick in 2020 by attending Disrupt, TC Sessions: Robotics/AI and TC Sessions: Mobility.

Going to TechCrunch events, whether it’s Disrupt or TC Sessions, helps me stay ahead of emerging trends, technologies and startups that affect the future of mobility.”

TC Sessions: Mobility 2021 takes place on June 9, 2021. Learn from and engage with the industry’s mightiest minds, makers, innovators and investors. Buy your early bird pass, connect with your world-wide community and help build a new age of transportation.

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

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SolarWinds hackers targeted NASA, Federal Aviation Administration networks

Hackers are said to have broken into the networks of U.S. space agency NASA and the Federal Aviation Administration as part of a wider espionage campaign targeting U.S. government agencies and private companies.

The two agencies were named by the Washington Post on Tuesday, hours ahead of a Senate Intelligence Committee hearing tasked with investigating the widespread cyberattack, which the previous Trump administration said was “likely Russian in origin.”

Spokespeople for the agencies did not immediately respond to a request for comment, but did not deny the breach in remarks to the Post.

It’s believed NASA and the FAA are the two remaining unnamed agencies of the nine government agencies confirmed to have been breached by the attack. The other seven include the Departments of Commerce, Energy, Homeland Security, Justice, and State, the Treasury, and the National Institutes of Health, though it’s not believed the attackers breached their classified networks.

FireEye, Microsoft, and Malwarebytes were among a number of cybersecurity companies also breached as part of the attacks.

The Biden administration is reportedly preparing sanctions against Russia, in large part because of the hacking campaign, the Post also reported.

The attacks were discovered last year after FireEye raised the alarm about the hacking campaign after its own network was breached. Each victim was a customer of the U.S. software firm SolarWinds, whose network management tools are used across the federal government and Fortune 500 companies. The hackers broke into SolarWinds’ network, planted a backdoor in its software, and pushed the backdoor to customer networks with a tainted software update.

It wasn’t the only way in. The hackers are also said to have targeted other companies by breaking into other devices and appliances on their victims’ networks, as well as targeting Microsoft vendors to breach other customers’ networks.

Last week, Anne Neuberger, the former NSA cybersecurity director who last month was elevated to the White House’s National Security Council to serve as the deputy national security adviser for cyber and emerging technology, said that the attack took “months to plan and execute,” and will “take us some time to uncover this layer by layer.”

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Bringing jobs and health benefits, BlocPower unlocks energy efficiency retrofits for low income communities

Retrofitting buildings to make them more energy efficient and better at withstanding climate change induced extreme weather is going to be a big, multi-billion dollar business. But it’s one that’s been hard for low-income communities to tap, thanks to obstacles ranging faulty incentive structures to an inability to adequately plan for which upgrades will be most effective in which buildings.

Enter BlocPower, a New York-based startup founded by a longtime advocate for energy efficiency and the job creation that comes with it, which has a novel solution for identifying, developing and profiting off of building upgrades in low income communities — all while supporting high-paying jobs for workers in the communities the company hopes to serve.

The company also has managed to raise $63 million in equity and debt financing to support its mission. That money is split between an $8 million investment from some of the country’s top venture firms and a $55 million debt facility structured in part by Goldman Sachs to finance the redevelopment projects that BlocPower is creating.

These capital commitments aren’t charity. Government dollars are coming for the industry and private companies from healthcare providers, to utility companies, to real estate developers and property managers all have a vested interest in seeing this market succeed.

There’s going to be over $1 billion carved out for weatherization and building upgrades in the stimulus package that’s still making its way through Congress

For BlocPower’s founder, Donnel Baird, the issue of seeing buildings revitalized and good high-paying jobs coming into local communities isn’t academic. Baird was born in Brooklyn’s Bedford Stuyvesant neighborhood and witnessed firsthand the violence and joblessness that was ripping the fabric of that rich and vibrant community apart during the crack epidemic and economic decline of the 1980s and early 90s.

Seeing that violence firsthand, including a shooting on his way to school, instilled in Baird a desire to “create jobs for disconnected Black and brown people” so they would never feel the hopelessness and lack of opportunity that fosters cycles of violence.

Some time after the shooting, Baird’s family relocated from Brooklyn to Stone Mountain, Georgia, and after graduating from Duke University, Baird became a climate activist and community organizer, with a focus on green jobs. That led to a role in the presidential campaign for Barack Obama and an offer to work in Washington on Obama’s staff.

Baird declined the opportunity, but did take on a role reaching out to communities and unions to help implement the first stimulus package that Obama and Biden put together to promote green jobs.

And it was while watching the benefits of that stimulus collapse under the weight of a fragmented building industry that Baird came up with the idea for BlocPower.

“It was all about the implementation challenges that we ran into,” Baird said. “If you have ten buildings on a block in Oakland and they were all built by the same developer at the same time. If you rebuild those buildings and you retrofit all of those buildings, in five of those buildings you’re going to trap carbon monoxide in and kill everybody and in the other five buildings you’re going to have a reduction in emissions and energy savings.”

Before conducting any retrofits to capture energy savings (and health savings, but more on that later), Baird says developers need to figure out the potential for asbestos contamination in the building; understand the current heating, ventilation, and cooling systems that the building uses; and get an assessment of what actually needs to be done.

That’s the core problem that Baird says BlocPower solves. The company has developed software to analyze a building’s construction by creating a virtual twin based on blueprints and public records. Using that digital twin the company can identify what upgrades a building needs. Then the company taps lines of credit to work with building owners to manage the retrofits and capture the value of the energy savings and carbon offsets associated with the building upgrades.

For BlocPower to work, the financing piece is just as important as the software. Without getting banks to sign off on loans to make the upgrades, all of those dollars from the federal government remain locked up. “That’s why the $7 billion earmarked for investment in green buildings did not work,” Baird said. “At BlocPower our view is that we could build software to simulate using government records… we could simulate enough about the mechanicals, electrical, and plumbing across buildings in NYC so that we could avoid that cost.”

Along with co-founder Morris Cox, Baird built BlocPower while at Columbia University’s business school so that he could solve the technical problems and overcome the hurdles for community financing of renewable retrofit projects.

Right before his graduation, in 2014, the company had applied for a contract to do energy efficiency retrofits and was set to receive financing from the Department of Energy. The finalists had to go down to the White House and pitch the President. That pitch was scheduled for the same day as a key final exam for one of Baird’s Columbia classes, which the professor said was mandatory. Baird skipped the test and won the pitch, but failed the class.

After that it was off to Silicon Valley to pitch the business. Baird met with 200 or more investors who rejected his pitch. Many of these investors had been burned in the first cleantech bubble or had witnessed the fiery conflagrations that engulfed firms that did back cleantech businesses and swore they’d never make the same mistakes.

That was the initial position at Andreessen Horowitz when Baird pitched them, he said. “When I went to Andreessen Horowitz, they said ‘Our policy is no cleantech whatsoever. You need to figure out how software is going to eat up this energy efficiency market’,” Baird recalled.

Working with Mitch Kapor, an investor and advisor, Baird worked on the pitch and got Kapor to talk to Ben Horowitz. Both men agreed to invest and BlocPower was off to the races.

The company has completed retrofits in over 1,000 buildings since its launch, Baird said, mainly to prove out its thesis. Now, with the revolving credit facility in hand, BlocPower can take bigger bites out of the market. That includes a contract with utility companies in New York that will pay $30 million if the company can complete its retrofits and verify the energy savings from that work.

There are also early projects underway in Oakland and Chicago, Baird said.

Building retrofits do more than just provide energy savings, as Goldman Sachs managing director Margaret Anadu noted in a statement.

“BlocPower is proving that it is possible to have commercial solutions that improve public health in underserved communities, create quality jobs and lower carbon emissions,” Anadu said. “We are so proud to have supported Donnel and his team…through both equity and debt capital to further expand their reach.”

These benefits also have potential additional revenue streams associated with them that BlocPower can also capture, according to investor and director, Mitch Kapor.

“There are significant linkages that are known between buildings and pollution that are a public health issue. In a number of geographies community hospitals are under a mandate to improve health outcomes and BlocPower can get paid from health outcomes associated with the reduction in carbon. That could be a new revenue stream and a financing mechanism,” Kapor said. “There’s a lot of work to be done in essentially taking the value creation engine they have and figuring out where to bring it and which other engines they need to have to have the maximum social impact.”

Social impact is something that both Kapor and Baird talk about extensively and Baird sees the creation of green jobs as an engine for social justice — and one that can reunite a lot of working class voters whose alliances were fractured by the previous administration. Baird also believes that putting people to work is the best argument for climate change policies that have met with resistance among many union workers.

“We will not be able to pass shit unless workers and people of color are on board to force the U.S. senate to pass climate change policy,” Baird said. “We have to pass the legislation that’s going to facilitate green infrastructure in a massive way.”

He pointed to the project in Oakland as an example of how climate policies can create jobs and incentivize political action.

“In Oakland we’re doing a pilot project in 12 low income buildings in oakland. I sent them $20K to train these workers from local people of color in Oakland… they are being put to work in Oakland,” Baird said. “That’s the model for how this gets built. So now we need them to call Chuck Shumer to push him to the left on green building legislation.” 

 

#advisor, #andreessen-horowitz, #articles, #barack-obama, #ben-horowitz, #biden, #brooklyn, #chicago, #co-founder, #columbia, #columbia-university, #construction, #department-of-energy, #director, #duke-university, #energy, #energy-conservation, #energy-efficiency, #federal-government, #georgia, #goldman-sachs, #mitch-kapor, #new-york, #oakland, #president, #tc, #u-s-senate, #united-states, #washington, #white-house

Atlanta area gets a 5G incubator courtesy of T-Mobile and Georgia Tech

The Atlanta area is getting a new incubator for startups working with 5G technology courtesy of T-Mobile and Georgia Tech’s Advanced Technology Development Center, the companies announced today.

It’s an expansion of the T-Mobile Accelerator program and part of the big carrier’s efforts to boost 5G innovation.

Located in the Atlanta adjacent exurb of Peachtree Corners’ technology development park, which is already equipped with T-Mobile’s 5G services, the incubator will help developers build and test 5G use cases including autonomous vehicles, robotics, industrial drone applications, mixed reality training and entertainment, remote medical care and personal health, the company said.

Startups working with the 5G Connected Future program will work directly with folks at T-Mobile’s accelerator, Georgia Tech, and Curiosity Lab, an initiative in the Peachtree Corners campus.

“In addition to the normal startup concerns, entrepreneurs in the 5G space face a unique set of challenges such as regulatory issues at the state and local levels, network security, and integration testing,” said ATDC Director John Avery.

Peachtree Corners’ setup may help folks navigate that roll out. As part of its involvement ATDC will offer programing, recruit and evaluate startups, and hire staff to manage the vertical in Peachtree Corners, the organization said.

“This collaboration is a great opportunity for ATDC and Georgia Tech, the city of Peachtree Corners and Curiosity Lab, and T-Mobile, a Fortune 50 company, to create a unique collection to work with these companies, refine their ideas into scalable companies, and bring these solutions to market more quickly,” Avery said.

 

Such a partnership underscores “Georgia Tech’s commitment to enabling tomorrow’s technology leaders, which remains as strong as when ATDC was founded 41 years ago,” said Chaouki T. Abdallah, Georgia Tech’s executive vice president for research. “Innovation cannot take place in a vacuum, which is why entrepreneurs and startups require the knowledge and resources provided through partnerships such as ours.”

#5g, #atlanta, #director, #georgia-tech, #science-and-technology, #startup-company, #t-mobile, #tc, #technology, #telecommunications

Voice recognition features return to TiVo through a partnership with Atlanta-based Pindrop

TiVo devices are getting new voice recognition capabilities thanks to a partnership with the Atlanta-based startup Pindrop, which is now offering its voice recognition and personalization technologies for consumer devices.

The new voice recognition capabilities replace TiVo’s discontinued use of the Alexa voice recognition service, which happened with little fanfare last year.

TiVo made a big push with its Alexa integration a little over two years ago, but the switch to Pindrop’s services shows that there’s a robust market for voice-enabled services and providers are moving from different markets to compete on Amazon and Google’s home turf.

Through the integration with Pindrop’s services, TiVo homeowners will now be able to search for shows and control their devices using their voice. But Pindrop’s tech, which was developed initially as an anti-fraud technology for financial services firms and big business customers, goes beyond basic voice recognition.

Pindrop’s tech can tell the difference between different speakers, setting up opportunities for the personalization of programming with each user being able to call up their individual account for Netflix, Amazon or other services with simple voice commands.

“Beyond just understanding what was said, we want to understand the context of the situation to drive intelligent system behavior in the moment,” said Jon Heim, Senior Director of Product & Conversation Services at TiVo. “The ability to distinguish between different members of a household based on their voice is an example of this contextual awareness, enabling us to provide an unprecedented level of personalization through an experience tailored to that specific person.”

It’s cool.

When different users say the “What should I watch?” prompt, TiVo devices can now pull up personalized content they are most likely to want to watch. If another member of the household says the same command, the device will display different results.

The technology requires user opt-in, and while Pindrop’s tech can differentiate between speakers, the identity of the speaker is anonymized. 

It’s a service that Pindrop has already rolled out to eight of the ten largest banks in the U.S., according to Pindrop co-founder and chief executive Vijay Balasubramanian. And the foray into consumer devices through the TiVo partnership is just the beginning.

The company has also integrated with SEI Robotics devices, the white label manufacturer of Android devices.

Pindrop has plenty of cash in the bank to finance its push into the world of consumer devices. The company’s profitable and is looking at an annual run rate just shy of $100 million, according to Balasubramanian.

For its next trick, the company intends to roll out its voice recognition service in cars and other networked consumer devices, according to Balasubramanian.

“[We’re] working with OEMS for auto… they’re in the proof of concept phase,” he said. 

#amazon, #android, #atlanta, #bank, #computing, #digital-video-recorders, #director, #netflix, #operating-systems, #personalization, #pindrop, #pindrop-security, #speaker, #tc, #tivo, #united-states, #voice-recognition

The biggest step the Biden administration took on climate yesterday wasn’t rejoining the Paris Agreement

While the Biden Administration is being celebrated for its decision to rejoin the Paris Agreement in one of its first executive orders after President Joe Biden was sworn in, it wasn’t the biggest step the administration took to advance its climate agenda.

Instead it was a move to get to the basics of monitoring and accounting, of metrics and dashboards. While companies track their revenues and expenses and monitor for all sorts of risks, impacts from climate change and emissions aren’t tracked in the same way. Now, in the same way there are general principals for accounting for finance, there will be principals for accounting for the impact of climate through what’s called the social cost of carbon.

Among the flurry of paperwork coming from Biden’s desk were Executive Orders calling for a review of Trump era rule-making around the environment and the reinstitution of strict standards for fuel economy, methane emissions, appliance and building efficiency, and overall emissions. But even these steps are likely to pale in significance to the fifth section of the ninth executive order to be announced by the new White House.

That’s the section addressing the accounting for the benefits of reducing climate pollution. Until now, the U.S. government hasn’t had a framework for accounting for what it calls the “full costs of greenhouse gas emissions” by taking “global damages into account”.

All of this is part of a broad commitment to let data and science inform policymaking across government, according to the Biden Administration.

Biden writes:

“It is, therefore, the policy of my Administration to listen to the science; to improve public health and protect our environment; to ensure access to clean air and water; to limit exposure to dangerous chemicals and pesticides; to hold polluters accountable, including those who disproportionately harm communities of color and low-income communities; to reduce greenhouse gas emissions; to bolster resilience to the impacts of climate change; to restore and expand our national treasures and monuments; and to prioritize both environmental justice and the creation of the well-paying union jobs necessary to deliver on these goals.”

The specific section of the order addressing accounting and accountability calls for a working group to come up with three metrics: the social cost of carbon (SCC), the social cost of nitrous oxide (SCN) and the social cost of methane (SCM) that will be used to estimate the monetized damages associated with increases in greenhouse gas emissions.

As the executive order notes, “[an] accurate social cost is essential for agencies to accurately determine the social benefits of reducing greenhouse gas emissions when conducting cost-benefit analyses of regulatory and other actions.” What the Administration is doing is attempting to provide a financial figure for the damages wrought by greenhouse gas emissions in terms of rising interest rates, and the destroyed farmland and infrastructure caused by natural disasters linked to global climate change.

These kinds of benchmarks aren’t flashy, but they are concrete ways to determine accountability. That accountability will become critical as the country takes steps to meet the targets set in the Paris Agreement. It also gives companies looking to address their emissions footprints an economic framework to point to as they talk to their investors and the public.

The initiative will include top leadership like the Chair of the Council of Economic Advisers, the director of the Office of Management and Budget and the Director of the Office of Science and Technology Policy (a position that Biden elevated to a cabinet level post).

Representatives from each of the major federal agencies overseeing the economy, national health, and the environment will be members of the working group along with the representatives or the National Climate Advisor and the Director of the National Economic Council.

While the rule-making is proceeding at the federal level, some startups are already developing services to help businesses monitor their emissions output.

These are companies like CarbonChainPersefoni, and SINAI Technologies. And their work compliments non-profits like CDP, which works with companies to assess carbon emissions.

Biden’s plan will have the various agencies and departments working quickly. The administration expects an interim SCC, SCN, and SCM within the next 30 days, which agencies will use when monetizing the value of changes in greenhouse gas emissions resulting from regulations and agency actions. The President wants final metrics will be published by January of next year.

The executive order also restored protections to national parks and lands that had been opened to oil and gas exploration and commercial activity under the Trump Administration and blocked the development of the Keystone Pipeline, which would have brought oil from Canadian tar sands into and through the U.S.

“The Keystone XL pipeline disserves the U.S. national interest. The United States and the world face a climate crisis. That crisis must be met with action on a scale and at a speed commensurate with the need to avoid setting the world on a dangerous, potentially catastrophic, climate trajectory. At home, we will combat the crisis with an ambitious plan to build back better, designed to both reduce harmful emissions and create good clean-energy jobs,” according to the text of the Executive Order. “The United States must be in a position to exercise vigorous climate leadership in order to achieve a significant increase in global climate action and put the world on a sustainable climate pathway. Leaving the Key`12stone XL pipeline permit in place would not be consistent with my Administration’s economic and climate imperatives.”

#articles, #biden-administration, #carbonchain, #chair, #director, #executive, #greenhouse-gas, #greenhouse-gas-emissions, #joe-biden, #office-of-management-and-budget, #oil, #persefoni, #president, #sinai-technologies, #tc, #trump, #trump-administration, #u-s-government, #united-states, #white-house

2020 was one of the warmest years in history and indicates mounting risks of climate change

It’s official. 2020 was one of the warmest years on record either edging out or coming in just behind 2016 for the warmest year in recorded history according to data from US government agencies.

The National Aeronautics and Space Administration had the year just tied with 2016, while the National Oceanic and Atmospheric Administration put the figure just behind 2016’s totals.

No matter the ranking, the big picture for the climate isn’t pretty according to scientists from NASA’s Goddard Institute for Space Studies (GISS) in New York and the Washington, DC-based NOAA.

“The last seven years have been the warmest seven years on record, typifying the ongoing and dramatic warming trend,” said GISS Director Gavin Schmidt, in a statement. “Whether one year is a record or not is not really that important – the important things are long-term trends. With these trends, and as the human impact on the climate increases, we have to expect that records will continue to be broken.”

That’s a dire message for the nation considering the cost of last year’s record-breaking 22 weather and climate disasters. At least 262 people died and scores more were injured by climate-related disasters, according to the NOAA.

And the combination of wildfires, droughts, heatwaves, tornados, tropical cyclones, and severe weather events like hail storms in Texas and the derecho that wrecked the Midwest cost the nation $95 billion.

Homes are engulfed in flames in Vacaville, California during the LNU Lightning Complex fire on August 19, 2020.

Homes are engulfed in flames in Vacaville, California during the LNU Lightning Complex fire on August 19, 2020. – As of the late hours of August 18,2020 the Hennessey fire has merged with at least 7 fires and is now called the LNU Lightning Complex fires. Dozens of fires are burning out of control throughout Northern California as fire resources are spread thin. (Photo by JOSH EDELSON/AFP via Getty Images)

Both organizations track temperature trends to get some sort of picture of the impact that human activities — specifically greenhouse gas emissions — have on the planet. The image that comes into focus is that human activity has already contributed to increasing Earth’s average temperature by more than 2 degrees Fahrenheit since the industrial age took hold in the late 19th century.

Most troubling to scientists is that this year’s near record-setting temperatures happened without a boost from the climatic weather phenomenon known as El Niño, which is a large-scale ocean-atmosphere climate interaction linked to a periodic warming.

“The previous record warm year, 2016, received a significant boost from a strong El Niño. The lack of a similar assist from El Niño this year is evidence that the background climate continues to warm due to greenhouse gases,” Schmidt said, in a statement.

The warming trends the word is experiencing are most pronounced in the Arctic, according to NASA. There, temperatures have warmed three times as a fast as the rest of the globe over the past 30 years, Schmidt said. The loss of Arctic sea ice — whose annual minimum area is declining by about 13 percent per decade — makes the region less reflective, which means more sunlight is being absorbed by oceans, causing temperatures to climb even more.

These accelerating effects of climate change could be perilous for the world at large, Katharine Hayhoe, a professor at Texas Tech University wrote in an email to The Washington Post.

“What keeps us climate scientists up in the dead of night is wondering what we don’t know about the self-reinforcing or vicious cycles in the Earth’s climate system,” Hayhoe wrote. “The further and faster we push it beyond anything experienced in the history of human civilization on this planet, the greater the risk of serious and even dangerous consequences. And this year, we’ve seen that in spades… It’s no longer a question of when the impacts of climate change will manifest themselves: They are already here and now. The only question remaining is how much worse it will get.”

#articles, #climate, #climate-change, #director, #greenhouse-gas-emissions, #katharine-hayhoe, #national-oceanic-and-atmospheric-administration, #new-york, #tc, #texas, #the-washington-post, #united-states, #us-government, #washington-dc

With $5 million in hand, The Routing Company is giving public transit authorities a ride-sharing service

James Cox spent much of his professional career at Uber trying to crack the problem of how to reduce congestion through ride-sharing.

As one of the architects of the Uber Pool service and a longtime proponent of ride-sharing as a means to slash vehicle emissions, Cox leapt at the chance to harness technology developed at MIT that purported to perfect a dynamic routing and vehicle management system for transit authorities.

That technology is at the heart of The Routing Company, the startup that Cox now leads. It’s based on sofrware developed by Routing Company co-founder and chief technology officer, Alex Wallar, when he was a doctoral student at MIT focused on optimizing vehicle distributions. Working with collaborators including Daniela Rus, the director of MIT’s Computer Science and Artificial Intelligence Laboratory and post-doc researcher Javier Alonso Mora, Wallar developed a platform that could apply real-time optimization to public transit.

In April, Wallar took the research to Menno van der Zee, and the two men developed the underlying platform that would become The Routing Company.

Cox came on board as an advisor to the company initially, but decided to join the ride full-time after seeing the technology that Wallar and van der Zee had developed.

Now, with $5 million in new financing led by the MIT deeptech investment fund, The Engine, and $6.5 million in total financing, the company is taking its tech to transit authorities around the world.

“We are thrilled to support The Routing Company. They have cracked the code for dynamic shared rides at scale.” said Reed Sturtevant, general partner of The Engine. “Smart ride sharing solutions for cities will have a ripple effect. Innovation in transit could quickly reduce congestion, shorten commute times for those who can’t afford to live in the city where they work, and help the environment.”

The idea is to take the services that private companies had been trying to offer to consumers, and bring the benefits to everyone.

The startup landscape is littered with failed private commuter services, and The Routing Company hopes to circumvent the issues they faced by working with, instead of competing against, public urban transit.

In the US alone, public transportation is a $74 billion business… and during the COVID-19 pandemic it’s a business that’s suffering greatly.

“When we and all the other ridesharing companies were building shared rides algorithms in the past.. The complexity in solving the shared rides problem had not been solved in real time,” said Cox of his time at Uber. “My understanding was that it was not possible to solve it in real time. We are really making transit a customer. If you look at transit they are very good at working with high capacity routes and demand. Where they’re weaker is in low and medium density areas. This is where there’s really an opportunity to help them.”

Cox sees his new company as solving a problem that specifically impacts low-income, low density communities. These areas typically aren’t serviced as well or as frequently by traditional public transit, and the tools on offer from the Routing Company give transit authorities a way to spin up a new fleet to service those areas.

The Routing Company sells a package that includes an app for riders, an app for drivers, and a fleet management platform for the transit agency. While it experiments with different pricing options, Cox declined to disclose how much the company is charging its initial customers, but the revenue model is based on either a per vehicle, per-month fee or on a percentage of the revenue generated per vehicle, he said.

Each driver receives a link to download an app. The riders are capable of accessing the app in a push a button shuttle way. We have built tools to allow people to make a phone call and make an appointment with an operator,” he said. 

The algorithms that had been developed for ride sharing in the past used an individual’s geolocation and destination to set the parameters of who would pick them up. The Routing Company flips that model by focusing on the position of an entire fleet of vehicles first and their already established routes to determine which vehicle is the best suited to pick up a passenger for a ride.

Wait times depend on the city and the number of vehicles deployed through The Routing Company, but Cox said the goal was to have passengers wait no more than 10 minutes for a pick up.  Already, one city in Scotland is using the service and The Routing Company has signed contracts with four undisclosed cities in the US an done in Australia.

“Plenty of people who have tried to make shuttle startups. The issue with a number of those is that the unit economics don’t work. Our approach definitely has the right technology and if we can augment public transit rather than compete with it,” Cox said. 

#advisor, #australia, #computing, #cox, #crowdsourcing, #daniela-rus, #director, #driver, #mit, #public-transport, #public-transportation, #routing, #scotland, #software, #tc, #transit, #transport, #uber, #united-states

Two key UK military non-profits join forces to boost veteran training in cyber and tech

Advancements in the tech and the cyber threat landscape are creating vast job opportunities. The global cyber security market is projected to reach £210 billion by 2026. But in the UK, out of 952,000 working aged (16-64) UK military veterans and 15,000 service leavers a year, only 4% of them are working in tech and cyber. This is 20% lower than the non-veteran population. The cost to the UK economy of underemployed or unemployed veterans has been estimated at £1.5 billion over 5 years. This means all this talent – talent which has literally been trained to adapt to fast-moving situations like the one the world finds itself in now – is going to waste, just when the era of massive digitization of business and society is upon us.

So it’s significant that the UK’s RFEA, the Forces Employment charity, is launching a new partnership with TechVets, the non-profit set up to build a bridge for veterans into cyber security and the technology sector.

With the RFEA’s support, TechVets will create extensive new free upskilling and job opportunities for ‘tech-curious’ service leavers and veterans, through its offering of networking, mentoring, signposting and training services, via its new TechVets Academy.

The initiative is timely. It’s estimated that over 173,000 UK military veterans are at risk due to the economic impact of COVID and the ending of the government’s furlough scheme in March 2021.

Since its launch in 2018, TechVets has grown to a community of over 6,000 members and several ‘chapters’ around the UK.

TechVets uses a blend of open-source resources, partner training, and community support, to empower those new to cyber/tech to choose the pathway that is best for them. And it’s all free to veterans and service leavers.

TechVets Programme Director, James Murphy (pictured), is an Army Veteran of 19 years. He joined the 1st Battalion Royal Anglian Regiment in 2000, before transferring to the Intelligence Corps in 2013 after sustaining life-long injuries in Helmand Province, Afghanistan.

In a statement, he said: “Anyone who has held a role in the Forces comes armed with an understanding of the sensitivities of working in security. Ex-Services also possess an innate ability to learn new skills and are natural problem solvers, who can work quickly and fit into a team with ease. Ex-military personnel are also the kind of people who thrive in pressurized, or time-sensitive, situations. These soft skills are incredible assets in the security and technology industries, which can be used to fill the current skills shortage in this area.”

RFEA’s Chief Executive Officer, Alistair Halliday, added: “The TechVets Programme is a fantastic new addition to RFEA’s services that will, no doubt, encourage talented veterans to consider tech and security-based roles that may have otherwise overlooked. It will also help veterans to upskill digitally to help them get into wider roles too.”

TechVets member Gareth Paterson, joined the Army in 1994. He started out as a Tank crewman and then transferred to the Royal Electrical and Mechanical Engineers as an instructor in 2001. He left in 2018, having completed operational tours of Northern Ireland, Former Yugoslavia and Afghanistan. He says his life has been changed by TechVets: “I left the Army as I was at the end of my 24-year career… I did not have a clue what career to move into, then I was introduced to offensive cybersecurity and penetration testing. I joined TechVets and it gave me my first insight into the tools and techniques of penetration testing. After that, I was hooked! The support of everyone at TechVets, and its community, has helped me to gain confidence and push harder. I was able to gain qualifications in penetration testing which improved my job prospects in the sector. By November 2018 I started working as a cybersecurity consultant.”

#afghanistan, #army, #chief-executive-officer, #computer-security, #cyberattack, #cybercrime, #cyberwarfare, #data-security, #director, #europe, #military, #northern-ireland, #tc, #united-kingdom

Approaching commercialization for its autonomous radar nav system, Lunewave raises $7 million

Lunewave, the Arizona-based startup developing a novel technology for radars for autonomous vehicles, has raised $7 million in financing as it gets ready for the commercial rollout of its systems.

The company’s latest financing came from Proeza entures, Blue 9 Capital, Tsingyuan Ventures and Intact Ventures, the company said.

With the latest funding Lunewave will continue to work with Tier 1 suppliers to establish strategic partnerships and jointly manufacture the company’s radar sensor, according to chief executive and co-founder John Xin.

The 3D printed Luneburg lens pitches features like broad bandwidth, high gain, and a capacity for forming multiple high-quality beams in all directions. The company said two of its sensors could replace 20 radar sensros used today.

The Lunewave radar has already gone through several pre-development projects with original equipment manufacturers and with ride hailing companies. “We’re very close to establishing a formal contractual partnership to commercialize our product,” said Xin. “By the end of the first quarter we will be able to announce a strategic partnership with a global tier 1 supplier.”

For Xin, the big pillars within sensors are cameras, lidar and radar, and he says that radar is the only one that works well in inclement weather conditions. “In the industry these days it’s becoming a philosophical discussion,” said Xin. “But we believe in sensor fusion. The more safety the better. Our job is to be the vendor choice for radar solutions.”

Xin said the new financing would go to staff up the company’s product development and sales teams as it looks to continue to refine its technology. The company’s product development currently operates on two tracks. One is a pure “a-dash” system and the other is geared toward level three, four, and five autonomy in vehicles.

The company is also hoping to continue its penetration of the industrial vehicle market — another area where Xin says the Lunewave is beginning to see real traction.

“We believe that ADAS and AV systems will continue to make their way into vehicles, leading to a strong growth in radars as they are a core component of both systems,” said Rodolfo Elias Dieck, managing director, Proeza Ventures. 

The company boasts that its technology offers 180-degree field of view in the horizontal plane and can detect objects surrounding a car with 6 times the resolution available today — even at long range and in poor weather.

As part of the funding, former BMW director Peter Schwarzenbacher and former Delphi executive James Zizelman will be taking seats on the company’s board of directors. Zizelman, who currently serves as the president of Stoneridge Contro Devices, was previous the vice president of engineering for Aptiv and an exec at Delphi Automotive.

“The technology that Lunewave is bringing to market provides the ultimate in value proposition,” said Zizelman. “Not only does this innovation bring truly superior technical capability in field of view, resolution, and other attributes, it also offers the opportunity to replace multiple radar units with a single Lunewave device—better and more cost effective.”

 

#air-traffic-control, #aptiv, #arizona, #av, #delphi, #director, #executive, #president, #proeza-ventures, #radar, #self-driving-car, #targeting, #tc, #technology, #wireless

Resilience raises over $800 million to transform pharmaceutical manufacturing in response to COVID-19

Resilience, a new biopharmaceutical company backed by $800 million in financing from investors including ARCH Venture Partners and 8VC, has emerged from stealth to transform the way that drugs and therapies are manufactured in the U.S.

Founded by ARCH Venture Partners investor Robert Nelsen, National Resilience Inc., which does business as Resilience was born out of Nelsen’s frustrations with the inept American response to the COVID-19 pandemic.

According to a statement the company will invest heavily in developing new manufacturing technologies across cell and gene therapies, viral vectors, vaccines and proteins.

Resilience’s founders identified problems in the therapeutic manufacturing process as one of the key problems that the industry faces in bringing new treatments to market — and that hurdle is exactly what the company was founded to overcome.

“COVID-19 has exposed critical vulnerabilities in medical supply chains, and today’s manufacturing can’t keep up with scientific innovation, medical discovery, and the need to rapidly produce and distribute critically important drugs at scale. We are committed to tackling these huge problems with a whole new business model,” said Nelsen in a statement.

The company brings together some of the leading investment firms in healthcare and biosciences including operating partners from Flagship Pioneering like Rahul Singhvi, who will serve as the company’s chief executive’ former Food and Drug Administration commissioner Scott Gottlieb, a partner at New Enterprise Associates and director on the Resilience board; and Patrick Yang, the former executive vice president and global head of technical operations at Roche/Genentech .

“It is critical that we adopt solutions that will protect the manufacturing supply chain, and provide more certainty around drug development and the ability to scale up the manufacturing of safe, effective but also more complex products that science is making possible,” said Dr. Gottlieb, in a statement. “RESILIENCE will enable these solutions by combining cutting edge technology, an unrivaled pool of talent, and the industry’s first shared service business model. Similar to Amazon Web Services, RESILIENCE will empower drug developers with the tools to more fully align discovery, development, and manufacturing; while offering new opportunities to invest in downstream innovations in formulation and manufacturing earlier, while products are still being conceived and developed.”

Other heavy hitters in the world of medicine and biotechnology who are working with the company include Frances Arnold, the Nobel Prize-winning professor from the California Institute of Technology; George Barrett, the former chief executive of Cardinal Health; Susan Desmond-Hellmann, the former president of product development at Genentech; Kaye Foster, the former vice president of human resources at Johnson and Johnson; and Denice Torres, the former President of Johnson & Johnson Pharmaceutical and Consumer Companies.

#amazon-web-services, #arch-venture-partners, #biotechnology, #companies, #contents, #director, #drug-development, #food-and-drug-administration, #genentech, #healthcare, #johnson, #johnson-johnson, #life-sciences, #manufacturing, #new-enterprise-associates, #partner, #president, #resilience, #roche, #scott-gottlieb, #tc, #web-services

Investors including Microsoft’s climate fund back hyperlocal environmental monitoring tech developer Aclima

Mitigating the effects of climate change and pollution is a global problem, but it’s one that requires local solutions.

While that seems like common sense, most communities around the world don’t have tools that can monitor emissions and pollutants at the granular levels they need to develop plans that can address these pollutants.

Aclima, a decade-old startup founded by Davida Herzl, is looking to solve that problem and has raised $40 million in new funding from strategic and institutional venture capital investors to accelerate its growth.

“We’ve built a platform that enables hyperlocal measurement. We measure all the greenhouse gases as well as regulated air pollutants. We deploy sensor networks that combine mobile sensing where we use fleets of vehicles as a roving network. And we bring that all together and bring that into a back end,” Herzl said. 

The networks of air quality monitoring technology that exists — and is subsidized by the government — is costly and lacking in the kinds of minute details on a neighborhood by neighborhood basis that communities can use to effectively address pollution problems.

“A typical air quality monitoring station would cost somewhere between $1 million to $2 million. Here in the Bay Area, the regulator is paying less than $3 million for access to all of this for the entire Bay Area,” Herzl said. 

Aclima’s technologies are already being deployed across California, and some of the company’s largest customers are municipalities in the Bay Area and down south in San Diego. 

GettyImages 1155300963

Image Credits: Getty Images under a license.

The company has two main offerings: an enterprise professional software product that’s geared toward regulators, experts, and businesses that want to get a handle on their greenhouse gas emissions and environmentally polluting operations and a free tool that’s available to the public.

A third revenue stream is through partnerships with companies like Google, which have attached Aclima’s sensors to its roving mapping vehicles to capture climate and environmental quality data alongside geographic information.

“You’re seeing a lot of large companies in traditionally who are now investing significant amount into really trying to understand their emissions profile and prioritize emission reductions in a data driven way,” Herzl said.

The company’s data is also providing real world tools to communities that are looking to address systemic inequalities in locations that have been hardest hit by industrial pollution.

West Oakland, for instance, has used Aclima’s data to develop community intervention plans to reduce pollution in the communities that have been most impacted by the regions industrial economy.

“The interconnected crises of climate change, public health and environmental justice urgently require lasting solutions,” said Herzl, in a statement. “Measurement will play a key role in shaping solutions and tracking progress. With this coalition of investors, we’re expanding our capacity to support new and existing customers and partners taking bold climate action.”

As a result of the new round of funding, led by Clearvision Ventures, the fund’s founder and managing partner, Dan Ahn will take a seat on the board of directors.

Photo: Greg Epperson/Getty Images

“They are the clear category leader in an important and emerging field of data and standards at the intersection of climate, public health and the economy,” Ahn said in a statement. “Both governments and industry will need Aclima’s critical data and analytics to benchmark and accelerate progress to reduce emissions.”

Other investors in Aclima’s latest round include the corporate investment arm of the sensor manufacturer Robert Bosch, which views the company as a strategic component of its efforts to use sensor data to combat climate change. 

“Aclima has built an expansive mobile and stationary sensor network that generates billions of measurements about our most critical resources every week,” says Dr. Ingo Ramesohl, Managing Director of RBVC, in a statement. “Bosch invents and delivers connected solutions for a smarter future across transportation, home, industrial, and many other fields. What Aclima has achieved in connected environmental sensing is an impressive feat. Together, we can accelerate Aclima’s ability to support customers in taking decisive and data-driven climate action.”

Another key investor is Microsoft, which has backed the company through one of the first direct investments from the Microsoft Climate Innovation Fund. 

“We established our Climate Innovation Fund earlier this year to accelerate the development of environmental sustainability solutions based on the best available science,” said Brandon Middaugh, Director, Climate Innovation Fund, Microsoft, in a statement. “We’re encouraged by Aclima’s pioneering approach to mapping air pollution sources and exposures at a hyperlocal level and the implications this technology can have for making data-driven environmental decisions with consideration for climate equity.”

Other investors also adding Aclima to their portfolios in this round include Splunk Inc. GingerBread Capital, KTB Network, ACVC Partners, and the Womens VC Fund II. Existing shareholders participating in the round include Social Capital, Rethink Impact, Kapor Capital, and the Schmidt Family Foundation, the company said in a statement.

 

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Trump fires US cybersecurity official Chris Krebs for debunking false election claims

Chris Krebs, one of the most senior cybersecurity officials in the U.S. government, has been fired.

Krebs served as the director of the Cybersecurity and Infrastructure Security Agency (CISA) since its founding in November 2018 until he was removed from his position on Tuesday. It’s not immediately clear who is currently heading the agency. A spokesperson for CISA did not immediately comment.

President Trump fired Krebs in a tweet late on Tuesday, citing a statement published by CISA last week, which found there was “no evidence that any voting system deleted or lost votes, changed votes, or was in any way compromised.” Trump, who has repeatedly made claims of voter fraud without providing evidence, alleged that CISA’s statement was “highly inaccurate.”

Shortly after, Twitter labeled Trump’s tweet for making a “disputed” claim about election fraud.

Reuters first reported the news of Krebs’ potential firing last week.

Krebs was appointed by President Trump to head the newly created cybersecurity agency in November 2018, just days after the conclusion of the midterm elections. He previously served as an under secretary for CISA’s predecessor, the National Protection and Programs Directorate, and also held cybersecurity policy roles at Microsoft.

During his time in government, Krebs became one of the most vocal voices in election security, taking the lead during 2018 and in 2020, which largely escaped from disruptive cyberattacks, thanks to efforts to prepare for cyberattacks and misinformation that plagued the 2016 presidential election.

He was “one of the few people in this administration respected by everyone on both sides of the aisle,” said Sen. Mark Warner, a member of the Senate Intelligence Committee, in a tweet.

Krebs is the latest official to leave CISA in the past year. Brian Harrell, who oversaw infrastructure protection at the agency, resigned in August after less than a year on the job, and Jeanette Manfra, who left for a role at Google at the end of last year. Cyberscoop reported Thursday that Bryan Ware, CISA’s assistant director for cybersecurity, resigned for a position in the private sector.

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