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Amperesand Ramps Up Innovations for Data Center Power Solutions

Amperesand Ramps Up Innovations for Data Center Power Solutions

Amperesand is targeting data centers with its advanced solid-state transformers, designed to enhance efficiency as electricity demand surges. CEO Gary Lawrence highlighted a projected increase from 90 gigawatts to over 185 gigawatts in global data centers by 2028. The technology replaces traditional iron cores with silicon carbide, allowing for better voltage regulation and integration of various power sources. The startup is currently raising a Series A round after a successful $12.5 million seed round. Amperesand aims to establish a U.S. office to access local talent and market opportunities.

Created at: January 21, 2025 10:30pm

Scale AI's CEO Urges Trump Administration to Boost AI Investment

Scale AI's CEO Urges Trump Administration to Boost AI Investment

Alexandr Wang, CEO of Scale AI, has taken a bold step by publishing a full-page ad in The Washington Post, urging the Trump administration to enhance investments in artificial intelligence (AI). Wang emphasizes the necessity of strategic actions to maintain U.S. leadership in AI, particularly against China's rising capabilities. He proposes five recommendations, including increased funding for data and computing, and making federal agencies 'AI-ready' by 2027. While some express concerns over the war-like framing of AI competition, Wang insists on the urgency of these measures to secure the future of AI development in the U.S.

Created at: January 21, 2025 10:30pm

Startup Founders Network at Trump's Inauguration Parties

Startup Founders Network at Trump's Inauguration Parties

During President Trump's inauguration, startup founders flocked to various parties in Washington, D.C., seeking connections with the new administration. Many founders, like Isaiah Taylor of Valar Atomics, leveraged their industry insights to engage with political figures and discuss nuclear regulation changes. Events included a Crypto Ball and a Coronation Ball, showcasing a mix of tech and entertainment. Some founders expressed optimism that the government might soon be more accessible for tech startups. Others, like James Layfield of Samplify.ai, explored opportunities to pitch their innovations to the government.

Created at: January 21, 2025 10:00pm

Perplexity Unveils Sonar API for Enhanced AI Search Capabilities

Perplexity Unveils Sonar API for Enhanced AI Search Capabilities

Perplexity has launched Sonar, an API service enabling developers to integrate its generative AI search tools into their applications. The API offers two tiers: a basic version for faster, cheaper access, and a Pro version for complex queries with detailed answers. Already adopted by Zoom for real-time AI assistance, Sonar enhances user experience by providing citations without leaving the chat interface. With pricing structured for both versions, Perplexity aims to capitalize on the growing demand for affordable AI tools while increasing its revenue stream following a recent $73.6 million funding round.

Created at: January 21, 2025 9:00pm

Global Fintech Funding Declines at Slower Pace in 2024

Global Fintech Funding Declines at Slower Pace in 2024

Fintech startups worldwide raised $33.7 billion in 2024, marking a 20% decline from the previous year, according to CB Insights. Deal volume also fell by 17%, totaling 3,580 deals. However, the decrease in funding represents the smallest annual drop in three years, with a rebound of $8.5 billion in Q4 2024, an 11% increase from Q3. Notably, median deal sizes surged by 33% to $4 million. Despite challenges, companies like LemFi and Hyperline secured significant funding, while eToro has filed for a confidential U.S. IPO.

Created at: January 21, 2025 6:30pm

Stripe Cuts 300 Jobs While Planning to Expand Workforce in 2025

Stripe Cuts 300 Jobs While Planning to Expand Workforce in 2025

Fintech leader Stripe is set to lay off 300 employees primarily in product, engineering, and operations, as revealed in a leaked memo. Despite these cuts, Chief People Officer Rob McIntosh stated that Stripe aims to increase its workforce by 17% to approximately 10,000 by year-end. This move follows a previous layoff of 1,120 staff in November 2022. Stripe is adjusting its team structure to ensure efficiency and effectiveness in executing its growth plans. The company, valued at $70 billion, continues to explore funding avenues while delaying its IPO.

Created at: January 21, 2025 6:00pm

NodeBB Joins the Fediverse, Bringing Forums to the Decentralized Social Web

NodeBB Joins the Fediverse, Bringing Forums to the Decentralized Social Web

NodeBB, a leading forum software provider, has announced its integration with the fediverse, allowing forum operators to connect with decentralized social networks. This decision emerged from co-founder Julian Lam's vision to link NodeBB forums and was accelerated by funding from the NLNet Foundation. The integration utilizes the ActivityPub protocol, enabling new forums to automatically federate with the open social web. Existing users can also interact with other ActivityPub-compatible platforms like Mastodon. NodeBB aims to make federation a core feature, enhancing user engagement and privacy.

Created at: January 21, 2025 5:00pm

Sony Honda Mobility Launches Afeela 1: A Game-Changer in the EV Market

Sony Honda Mobility Launches Afeela 1: A Game-Changer in the EV Market

Sony Honda Mobility has officially entered the electric vehicle market with the introduction of Afeela 1, a high-performance EV launched at CES 2025. This vehicle, developed in collaboration with Honda, boasts a powerful 482-horsepower powertrain and offers an EPA-estimated range of 300 miles. Equipped with advanced driver assistance systems and 40 sensors, Afeela 1 promises enhanced safety and convenience. The luxurious cabin showcases sustainable materials and features a state-of-the-art in-car technology experience, including a dashboard-length display and immersive audio. Preorders are now open, starting at $89,900.

Created at: January 21, 2025 3:30pm

IMDb Founder Col Needham Steps Down as CEO After 35 Years

IMDb Founder Col Needham Steps Down as CEO After 35 Years

Col Needham, the founder of IMDb, has announced his resignation as CEO after 35 years, handing over the reins to Nikki Santoro, the former COO. Santoro, who joined IMDb in 2016, is the first woman to hold the CEO position. Needham will transition to executive chair, praising Santoro's strategic vision and track record in driving growth. Under her leadership, IMDb has expanded its database and improved membership offerings. Santoro previously held key roles at Amazon and Microsoft, positioning her well to lead the company into its next chapter.

Created at: January 21, 2025 3:30pm

Samsung Galaxy S25 Slim Variant Skips US Market, Available in 39 Countries Only

Samsung Galaxy S25 Slim Variant Skips US Market, Available in 39 Countries Only

Samsung's highly anticipated Galaxy S25 series faces disappointment for US users as the new Galaxy S25 Slim variant will not be released in the country. According to a report, the slimmer model will be available in only 39 countries globally. Despite its sleek 6.4mm thickness and advanced Snapdragon 8 Elite chipset, American consumers will have access only to the standard versions. The upcoming Unpacked event is set to showcase the Galaxy S25 series, generating excitement despite the limited availability of the Slim variant.

Created at: January 21, 2025 3:00pm

Mistral AI Eyes IPO, Expands Operations in Asia-Pacific

Mistral AI Eyes IPO, Expands Operations in Asia-Pacific

Mistral AI, the French artificial intelligence lab co-founded by Arthur Mensch, is planning an initial public offering, as announced during the World Economic Forum in Davos. Mensch emphasized that Mistral is not for sale and revealed plans to open an office in Singapore to enhance its presence in the Asia-Pacific region. The startup, which emerged in 2023 with former Google DeepMind and Meta researchers, has raised approximately $1.14 billion, achieving a valuation of around $6 billion. Mistral aims to compete directly with U.S. AI leaders like OpenAI through its innovative AI models and services.

Created at: January 21, 2025 3:00pm

Anthropic Unveils Innovative Two-Way Voice Mode for Claude Chatbot

Anthropic Unveils Innovative Two-Way Voice Mode for Claude Chatbot

Anthropic's CEO Dario Amodei announced plans to introduce a 'two-way' voice mode and enhanced memory features for its AI chatbot, Claude. Speaking at the World Economic Forum, he emphasized the company's struggle to meet the overwhelming demand for AI services, noting a significant surge in interest over the past year. Despite raising $13.7 billion, Anthropic faced substantial losses last year and is now negotiating to secure an additional $2 billion funding at a $60 billion valuation. The company aims to compete more effectively with industry leader OpenAI.

Created at: January 21, 2025 3:00pm

Qomodo Secures $13.9M to Boost BNPL Services for Italian Retailers

Qomodo Secures $13.9M to Boost BNPL Services for Italian Retailers

Milan-based Qomodo has successfully raised €13.5 million ($13.9 million) in Series A funding, co-led by RTP Global and LMDV Capital. This funding aims to expand its Buy Now Pay Later (BNPL) services for physical merchants across Italy. Founded in 2023, Qomodo has raised a total of €48 million ($49.6 million) to assist small businesses in enhancing cash flow through flexible, interest-free installment options. Currently serving 2,500 merchants, the startup plans to introduce additional banking products to support the physical retail sector, which has been underserved by fintech solutions.

Created at: January 21, 2025 1:30pm

MoneyHash Secures $5.2M to Revolutionize Payment Orchestration in MENA

MoneyHash Secures $5.2M to Revolutionize Payment Orchestration in MENA

Egypt's fintech startup MoneyHash has raised $5.2 million in pre-Series A funding, bringing its total funding to over $12 million since its inception in 2021. The company simplifies payment processes for merchants across the Middle East and Africa, targeting larger enterprises with its new suite launched in early 2024. MoneyHash's platform integrates multiple payment providers, addressing high failure rates and operational inefficiencies in the region. Investors include Flourish Ventures and Saudi’s Vision Ventures, highlighting growing interest in fintech solutions for emerging markets.

Created at: January 21, 2025 11:30am

Karmen Raises $9.4 Million to Enhance Instant Financing for SMEs

Karmen Raises $9.4 Million to Enhance Instant Financing for SMEs

French fintech startup Karmen has successfully raised $9.4 million in a funding round aimed at boosting its revenue-based financing products for small and medium enterprises (SMEs). The round, which includes equity and debt, was led by Seventure Partners and supported by Financière Arbevel and Bpifrance. Karmen, which has already assisted around 600 companies in managing their cashflow, offers loans ranging from €20,000 to €3 million. The company plans to enhance its data-driven approach and risk assessment technology using AI to better serve its clients and expand its customer base through embedded financing strategies.

Created at: January 21, 2025 5:30am

Friend Delays Shipments of AI Companion Pendant Until Q3

Friend Delays Shipments of AI Companion Pendant Until Q3

Friend, a startup offering a $99 AI-powered necklace intended as a digital companion, has postponed its shipments to pre-order customers until Q3. CEO Avi Schiffman cited the need for further refinements and manufacturing protocols as reasons for the delay. Initially set for Q1, the launch will now follow the completion of their prototype by the end of February. Schiffman also announced the winding down of their chatbot experience, emphasizing a focus on hardware development instead. The decision comes amid mixed reactions to their AI chatbots, which some users found unsettling.

Created at: January 20, 2025 10:30pm

RedNote Dominates App Store Amidst TikTok's Brief Ban

RedNote Dominates App Store Amidst TikTok's Brief Ban

RedNote, a Chinese app, surged to the top of the U.S. App Store as TikTok faced a temporary ban, attracting 700,000 new users. Clapper and Flip also gained significant traction, while TikTok's restoration did not reverse this trend. Despite TikTok's return, alternatives like RedNote and Likee have maintained high rankings in app stores. The TikTok ban prompted a notable increase in VPN app downloads as users sought ways to bypass restrictions. The shifting preferences highlight a competitive landscape in short video apps, reflecting user sentiment against Meta's Instagram Reels.

Created at: January 20, 2025 6:00pm

DeepSeek's R1 Model Claims to Outperform OpenAI's o1 on Key Benchmarks

DeepSeek's R1 Model Claims to Outperform OpenAI's o1 on Key Benchmarks

Chinese AI lab DeepSeek has launched an open-source reasoning model, DeepSeek-R1, claiming it matches or exceeds OpenAI's o1 on several benchmarks, including AIME and MATH-500. The model, available under an MIT license on Hugging Face, features 671 billion parameters, indicating advanced problem-solving capabilities. While R1 is noted for its self-fact-checking ability, it faces regulatory limitations on specific topics due to Chinese regulations. DeepSeek's offering is priced significantly lower than OpenAI's, promoting wider access to powerful AI reasoning tools.

Created at: January 20, 2025 6:00pm

Venture Capitalists Eye AI Startups for 2025 Investment

Venture Capitalists Eye AI Startups for 2025 Investment

A recent TechCrunch survey of 20 VCs reveals their growing interest in AI startups targeting specific enterprise functions for 2025. Investors like Mark Rostick from Intel Capital emphasize the importance of application-focused AI solutions that deliver transformative impacts. Mike Hayes of Insight Partners aims to support companies reducing business friction through innovative AI products. The emphasis is on backing startups with solid business models, steering clear of feature-based solutions. Reliability and AI infrastructure are also highlighted as key investment areas, indicating a robust future for enterprise-centric AI innovations.

Created at: January 20, 2025 3:00pm

Meta Launches 'Edits' App as a Response to TikTok's US Ban

Meta Launches 'Edits' App as a Response to TikTok's US Ban

Meta has announced the upcoming launch of 'Edits', a new video editing app from Instagram aimed to rival CapCut following TikTok's recent ban in the US. Instagram CEO Adam Mosseri shared details about the app, which will feature an inspiration tab, advanced editing tools, and easy content sharing to Instagram. While 'Edits' will be available for pre-order on iOS next month, no timeline has been provided for its Android release. This move comes as TikTok's ban affected 170 million users, leaving a gap in the market that Meta aims to fill.

Created at: January 20, 2025 1:00pm

Metropolis Acquires Oosto for $125M Amid AI Industry Turmoil

Metropolis Acquires Oosto for $125M Amid AI Industry Turmoil

In a significant move within the AI sector, Metropolis, an AI-driven parking platform, is set to acquire Oosto, the controversial computer vision company previously known as AnyVision, for $125 million. This acquisition reflects Oosto's struggles, having raised $380 million in the past but now facing challenges with under $10 million in annual revenue. The deal, involving shares, follows a period of layoffs and a rebranding effort by Oosto. Experts suggest the timing of the acquisition aligns with shifting geopolitical dynamics and the evolving landscape of AI technology.

Created at: January 20, 2025 12:30pm

Blinkit Faces Intensifying Competition in India's Quick Commerce Market

Blinkit Faces Intensifying Competition in India's Quick Commerce Market

Zomato's Blinkit is ramping up its expansion in India's quick commerce sector, targeting 2,000 dark stores by December 2025. The company reported significant losses of 103 crore rupees ($11.9 million) as it aggressively added store locations and warehousing space. Analysts suggest the industry is in a 'land grab mode,' with rivals like Zepto and Flipkart also expanding rapidly. Despite the competitive pressures, Blinkit expects its investments to pay off, predicting over 100% growth through FY25 and FY26 as customer demand for quick deliveries rises.

Created at: January 20, 2025 11:00am

Oui Capital Achieves Milestone with Moniepoint's Unicorn Exit

Oui Capital Achieves Milestone with Moniepoint's Unicorn Exit

Oui Capital, an early-stage African VC, successfully returned its $4 million debut fund following the sale of shares in the fintech unicorn Moniepoint. Initially investing $150,000, Oui Capital saw an impressive $8 million return after Moniepoint's valuation soared to $1 billion during its Series C funding. This achievement highlights the potential of early-stage investments in Africa's fintech sector. Oui Capital joins a select group of pan-African investors who have returned their first funds, illustrating the growing maturity and opportunities within the region's venture ecosystem.

Created at: January 20, 2025 8:00am

Failed Startups' Employees Face Rising Data Theft Risks

Failed Startups' Employees Face Rising Data Theft Risks

A recent security study reveals that employees of failed startups are increasingly vulnerable to data theft, particularly through old Google logins. Researcher Dylan Ayrey highlighted that hackers can exploit defunct domains to access sensitive information, including Social Security numbers. Ayrey demonstrated this vulnerability by purchasing a failed startup's domain, successfully logging into multiple cloud services. Despite Google implementing security measures, flaws in OAuth configurations may still expose former employees. Ayrey estimates tens of thousands may be at risk, urging better shutdown practices for startups.

Created at: January 19, 2025 4:00pm

Perplexity AI Bids to Merge with TikTok Amid Ban Threats

Perplexity AI Bids to Merge with TikTok Amid Ban Threats

Perplexity AI has submitted a bid to merge with TikTok US as a ban looms in the United States. The proposed merger aims to create a new entity that combines Perplexity, TikTok, and new equity partners, allowing investors in ByteDance to retain their equity. This move comes as a law requiring ByteDance to sell TikTok or face a ban takes effect. Meanwhile, President-elect Donald Trump hinted at a possible extension for TikTok. Despite several buyers showing interest, ByteDance has consistently stated it does not intend to sell.

Created at: January 18, 2025 9:30pm

U.S. Supreme Court Upholds TikTok Ban, Users Seek Alternatives

U.S. Supreme Court Upholds TikTok Ban, Users Seek Alternatives

The Supreme Court has upheld a law that will effectively ban TikTok in the U.S., forcing the app to shut down unless it divests its operations. Starting Sunday, distribution of TikTok will be illegal, prompting American users to migrate to the Chinese app RedNote, which has surged to the top of the U.S. App Store. In parallel, there's been a significant increase in U.S. users learning Mandarin on Duolingo, reflecting a 216% growth as they prepare for the transition. The future of TikTok remains uncertain as the ban approaches.

Created at: January 18, 2025 6:30pm

Struggles Mount for Proptech Startups Divvy Homes and EasyKnock

Struggles Mount for Proptech Startups Divvy Homes and EasyKnock

Divvy Homes and EasyKnock, once promising proptech startups, are facing significant challenges in the current high-interest-rate environment. Investment in U.S. real estate startups plummeted from $11.1 billion in 2021 to $3.7 billion last year. Divvy Homes is reportedly being acquired by Maymont Homes, while EasyKnock has abruptly shut down following multiple lawsuits. Both companies, which operated on similar rent-to-own models, struggled under the weight of rising interest rates and mounting debt. Analysts expect further difficulties for the real estate fintech sector in 2025.

Created at: January 18, 2025 4:30pm

Canoo Electric Vehicle Startup Files for Bankruptcy and Ceases Operations

Canoo Electric Vehicle Startup Files for Bankruptcy and Ceases Operations

Canoo, a seven-year-old electric vehicle startup, has filed for Chapter 7 bankruptcy and will cease operations immediately. The company is currently liquidating its assets in Delaware after unsuccessful funding discussions. Despite efforts to secure capital from foreign sources and the U.S. Department of Energy, Canoo struggled throughout 2024 to deliver its electric vans. The startup recently furloughed its employees and closed its Oklahoma factory amid significant financial challenges, reporting only $700,000 in the bank in mid-November. This story is still developing.

Created at: January 18, 2025 2:00am

Amazon Halts U.S. Drone Deliveries After Test Crashes

Amazon Halts U.S. Drone Deliveries After Test Crashes

Amazon has suspended its drone delivery operations in the U.S. following two crashes at a testing facility in Pendleton, Oregon. The incidents occurred in rainy weather, raising concerns about the reliability of the Prime Air program. The company is set to pause operations in Texas and Arizona until a software update is implemented on its drone fleet. Amazon's drone initiative has faced multiple challenges, including the departure of key executives and a previous halt of operations in California. Despite setbacks, Amazon aims to expand drone delivery tests internationally.

Created at: January 18, 2025 12:00am

Perplexity Acquires Read.cv, Enhancing AI-Powered Professional Networking

Perplexity Acquires Read.cv, Enhancing AI-Powered Professional Networking

Perplexity, an AI-powered search engine, has acquired Read.cv, a social media platform for professionals competing with LinkedIn. Following the acquisition, Read.cv will cease operations, allowing users to export their data until May 16. Perplexity aims to leverage Read.cv's design and engineering talent to improve its corporate-focused features. Founded in 2021 by a former Facebook designer, Read.cv offered tools for sharing resumes and job postings. This acquisition marks Perplexity's third, as it seeks to expand its product offerings and enhance user experiences.

Created at: January 17, 2025 8:30pm

Character AI Launches New Games to Boost User Engagement

Character AI Launches New Games to Boost User Engagement

Character AI, the innovative startup known for its AI-powered character chats, is testing new games to enhance user interaction on its platform. Available to paid subscribers and select free users, the initial games, Speakeasy and War of Words, aim to create a more entertaining experience. Users can interact with characters while playing these games, maintaining their previous chats. This move aligns with Character AI's vision of becoming a prominent entertainment platform, especially following recent leadership changes. The company emphasizes safety and engagement as it continues to evolve its offerings.

Created at: January 17, 2025 8:00pm

OpenAI Collaborates with Longevity Startup to Extend Human Lifespan

OpenAI Collaborates with Longevity Startup to Extend Human Lifespan

OpenAI has partnered with Retro Biosciences, a startup focused on longevity science, to develop a new AI model called GPT-4b micro. This model aims to re-engineer Yamanaka factors, proteins that can transform human skin cells into stem cells, potentially extending human life by 10 years. Backed by Sam Altman, Retro has been collaborating with OpenAI for about a year. Unlike Google's Alphafold, this model is specifically designed for biological research. Both companies plan to release findings on the model's capabilities soon.

Created at: January 17, 2025 7:00pm

Bumble Founder Whitney Wolfe Herd Returns as CEO Amidst Growth Challenges

Bumble Founder Whitney Wolfe Herd Returns as CEO Amidst Growth Challenges

Bumble announced that founder Whitney Wolfe Herd will reclaim her role as CEO in March, succeeding Lidiane Jones, who is stepping down for personal reasons. Wolfe Herd's return comes as Bumble faces declining revenue, with Q3 2024 results showing a drop to $274 million despite an increase in paying users to 4.3 million. The average revenue per paying user also fell, raising concerns among investors. As Bumble prepares to announce its fourth-quarter results, it expects app revenue to exceed previous forecasts, potentially restoring investor confidence.

Created at: January 17, 2025 5:00pm

Instabase Secures $100M in Series D Funding to Revolutionize Document Data Processing

Instabase Secures $100M in Series D Funding to Revolutionize Document Data Processing

Instabase has successfully raised $100 million in a Series D funding round, aimed at enhancing its software for processing unstructured document data. This funding comes as businesses face challenges managing vast amounts of unstructured data from various sources. The platform enables companies to extract, classify, and analyze data efficiently, utilizing generative AI for deeper insights. Notable clients include Uber and major U.S. banks. Founded in 2015, Instabase has previously raised $175 million, now valued at $2 billion. The Series D round was led by Qatar Investment Authority and includes prominent investors.

Created at: January 17, 2025 3:30pm

Nord Security Founders Launch Nexos.ai to Revolutionize AI Project Deployment

Nord Security Founders Launch Nexos.ai to Revolutionize AI Project Deployment

Nexos.ai, a new AI orchestration startup founded by Tomas Okmanas and Eimantas Sabaliauskas, aims to streamline the transition of AI projects from pilot to production for enterprises. Backed by $8 million in funding from prominent investors, including Index Ventures, the company focuses on enhancing visibility, security, and adaptability of large language models (LLMs). Nexos.ai addresses the challenges of deploying AI in production environments by offering a simple API that integrates over 200 AI models, ensuring cost efficiency and data security for enterprises. The platform is set to launch by March 2025.

Created at: January 17, 2025 10:00am

Apple Expands Retail Footprint in India with New Store App

Apple Expands Retail Footprint in India with New Store App

Apple has launched its dedicated Apple Store app in India to enhance its retail presence and cater to growing consumer demand. The app allows users to purchase Apple products directly and provides personalized shopping recommendations. Customers can customize their devices and choose delivery or pickup options. This initiative follows the opening of Apple’s physical stores in major cities and aims to deepen connections with Indian users. The app also offers post-purchase support, training sessions, and trade-in options, marking a significant step in Apple's expansion in the world's second largest smartphone market.

Created at: January 17, 2025 3:00am

FAA Diverts Flights After SpaceX Starship Explosion

FAA Diverts Flights After SpaceX Starship Explosion

The FAA confirmed it temporarily diverted air traffic after SpaceX's Starship exploded during a test flight near Puerto Rico. Multiple flights were forced into holding patterns or redirected as debris fell from the spacecraft. Miami International Airport reported 30-minute delays due to the incident, with Fort Lauderdale-Hollywood International Airport experiencing similar disruptions. The explosion occurred during SpaceX's seventh test flight, which aimed to evaluate new equipment. Videos of the explosion quickly gained traction on social media, with CEO Elon Musk commenting on the event's entertainment value.

Created at: January 17, 2025 1:30am

SpaceX Successfully Catches Starship Booster, But Upper Stage Suffers Anomaly

SpaceX Successfully Catches Starship Booster, But Upper Stage Suffers Anomaly

SpaceX successfully caught its Starship rocket’s Super Heavy booster for the second time during a recent test flight. However, shortly after the catch, the company lost contact with the ship, which experienced an anomaly during its ascent to orbit. The booster had successfully separated from the ship and ignited its engines before some failed. This flight featured upgraded heat tiles and enhanced radar sensors for catching the booster. The previous catch attempt was aborted due to communication issues. The situation is still developing as SpaceX investigates the anomaly.

Created at: January 16, 2025 11:30pm

VC Investment Soars to $75B in Q4, Yet Startups Struggle to Secure Funding

VC Investment Soars to $75B in Q4, Yet Startups Struggle to Secure Funding

Venture capital investments in U.S. startups surged to $74.6 billion in Q4 2024, a significant rise from the previous nine-quarter average of $42 billion. Despite this impressive figure, funding remains concentrated among a few major players, with 43.2% of the total going to just five companies including Databricks and OpenAI. Analysts suggest that without these large deals, overall investment levels would mirror past trends. The disparity highlights ongoing challenges for smaller startups in accessing capital, raising questions about the sustainability of this investment surge in 2025.

Created at: January 16, 2025 11:00pm

Failed Fintech Startup Bench Accumulates Over $65 Million in Debt Amid Bankruptcy

Failed Fintech Startup Bench Accumulates Over $65 Million in Debt Amid Bankruptcy

Bench, a fintech accounting startup, has revealed it filed for bankruptcy in Canada on January 7, 2025, with liabilities exceeding $65 million. The company, which raised $113 million since its founding in 2012, had only $2.8 million in cash at the time of filing. Most of its debt, $50 million, is owed to the National Bank of Canada, with over 85% being unsecured. The filings also disclose significant obligations to VC investors and former employees, totaling millions in severance and unpaid rent. Bench is currently undergoing acquisition by Employer.com amidst these financial challenges.

Created at: January 16, 2025 9:30pm