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ByteDance Lays Off Hundreds of TikTok Employees Amid AI Shift

ByteDance Lays Off Hundreds of TikTok Employees Amid AI Shift

ByteDance has announced layoffs affecting less than 500 TikTok employees, primarily in Malaysia, as the company transitions to AI-driven content moderation. This move aims to enhance TikTok's global content moderation framework, which currently balances automated systems and human reviewers. The layoffs follow previous job cuts earlier this year, including over 250 positions in Ireland and around 1,000 in operations and marketing. TikTok has not responded to requests for further details on the layoffs.

Created at: October 11, 2024 2:00pm

Tesla Unveils Robovan: A Fully Autonomous Electric Van for 20 Passengers

Tesla Unveils Robovan: A Fully Autonomous Electric Van for 20 Passengers

At the recent 'We, Robot' event, Elon Musk introduced Tesla's new Robovan, an electric and fully autonomous van designed to accommodate up to 20 passengers. This spacious vehicle, which boasts a unique art deco design, aims to revolutionize transportation by eliminating the need for a driver. Musk emphasized its versatility, allowing it to transform into various configurations such as a cargo van or RV. The Robovan signifies Tesla's commitment to creating a fleet of vehicles that operate without traditional controls, marking a significant step forward in autonomous driving technology.

Created at: October 11, 2024 1:30pm

Microsoft's Xbox Games Coming to Android Following Google Antitrust Ruling

Microsoft's Xbox Games Coming to Android Following Google Antitrust Ruling

In a significant move post-Google's antitrust ruling, Microsoft is set to enhance its Xbox mobile app for Android users in the U.S., allowing direct game purchases starting next month. This ruling compels Google to open its Play Store, fostering competition and eliminating its previously mandated billing system. The update aims to streamline game purchases and enable Xbox Cloud Gaming on mobile devices. Microsoft also plans to launch a browser-based Xbox mobile store, focusing on first-party games and promotional offerings. This shift marks a pivotal change in mobile gaming accessibility and monetization strategies.

Created at: October 11, 2024 1:30pm

Google Messages Beta Bug: Old Text Field Design Makes a Surprise Comeback

Google Messages Beta Bug: Old Text Field Design Makes a Surprise Comeback

In the latest beta version of Google Messages, some users have reported the unexpected return of an old text field design, sparking speculation about whether it is a bug or a deliberate change. The older layout features a 'plus' menu and a Magic Compose button, causing confusion among users accustomed to the new format. Feedback indicates a mix of preferences regarding text alignment, with right-aligned bubbles appealing to some, while others favor the left-aligned design. As beta testing continues, users are eager for clarity on the future of the messaging interface.

Created at: October 11, 2024 1:00pm

Elon Musk Unveils Tesla Optimus: A Humanoid Robot That Can Do 'Anything You Want'

Elon Musk Unveils Tesla Optimus: A Humanoid Robot That Can Do 'Anything You Want'

At the recent 'We, Robot' event, Elon Musk showcased Tesla's Optimus humanoid robot, claiming it can perform virtually any task requested by users. The event featured Optimus walking among the audience and demonstrating its abilities through household activities like watering plants and bartending. Priced between $20,000 to $30,000, Optimus is marketed as an 'Autonomous Assistant, Humanoid Friend,' aimed to aid in daily chores rather than replace humans. This development marks a significant step toward Tesla's vision of integrating robots into everyday life, despite previous delays in availability.

Created at: October 11, 2024 1:00pm

Trump Campaign Boosts Security with Encrypted Devices Amid Iranian Cyber Threats

Trump Campaign Boosts Security with Encrypted Devices Amid Iranian Cyber Threats

In response to recent cyberattacks attributed to Iranian hackers, Donald Trump's presidential campaign has fortified its security measures by acquiring advanced encrypted devices. The campaign has partnered with Green Hills Software to implement customized Android phones and laptops, designed to limit functionalities while enhancing security. These devices utilize a proprietary operating system, end-to-end encryption, and two-factor authentication to thwart potential breaches. Campaign officials recognize the urgent need for robust security in light of escalating cyber threats, ensuring that staff communications remain safeguarded from surveillance. This move highlights a growing awareness of cybersecurity's importance in political campaigns.

Created at: October 11, 2024 1:00pm

Apple's AI Features Unexpectedly Summarize Breakup Texts

Apple's AI Features Unexpectedly Summarize Breakup Texts

In a surprising turn of events, a beta tester of iOS 18.1 received an AI-generated summary of a breakup text, highlighting the potential for Apple Intelligence features. The summary succinctly conveyed the message from his ex-girlfriend, prompting discussions about the emotional sensitivity of such technology. While Apple aims to enhance productivity with features like text summaries, the incident raises concerns about the appropriateness of AI interpretations in personal matters. Users hope for improvements in the emotional intelligence of these AI tools to avoid similar awkward situations in the future.

Created at: October 11, 2024 11:30am

Wikipedia Editors Face Rising Challenge from AI-Generated Content

Wikipedia Editors Face Rising Challenge from AI-Generated Content

As the prevalence of AI-generated content increases, Wikipedia editors are struggling to manage the influx of low-quality contributions. Large language models, like OpenAI's GPT, are creating text that is often improperly sourced, leading to a rise in fake entries. Ilyas Lebleu, a Wikipedia editor, is spearheading the 'WikiProject AI Cleanup' to establish best practices for identifying machine-generated content. This project aims to help editors distinguish between genuine and AI-created edits, which are becoming a significant burden on their time and resources.

Created at: October 11, 2024 11:30am

UK Neobank Monzo Achieves $5.9B Valuation Through Secondary Market Sale

UK Neobank Monzo Achieves $5.9B Valuation Through Secondary Market Sale

Monzo, the U.K.-based neobank, has reached a valuation of $5.9 billion following a successful secondary market sale aimed at providing liquidity for its employees. The sale involved existing investors like Singapore’s GIC and StepStone Group acquiring additional shares. This year has been pivotal for Monzo, having raised $190 million in May and reporting its first full-year pre-tax profit. With plans for European expansion and a push into the U.S. market, Monzo continues to attract significant investor interest, reflecting its growth trajectory in the competitive fintech landscape.

Created at: October 11, 2024 9:30am

Elon Musk Unveils Tesla's Robovan Prototype at We, Robot Event

Elon Musk Unveils Tesla's Robovan Prototype at We, Robot Event

During Tesla's We, Robot event in Los Angeles, Elon Musk introduced a prototype of the Robovan, an electric autonomous vehicle designed to transport up to 20 people and goods in high-density areas. The Robovan, which features a retro-futuristic design without a steering wheel, showcases Tesla's vision for the future of transportation. Musk did not disclose production details, costs, or timelines for its release. This prototype reflects Tesla's ambition to innovate urban mobility, paralleling other robotaxi designs but on a larger scale. The Robovan aims to redefine the aesthetics of road vehicles.

Created at: October 11, 2024 4:30am

Tesla Unveils 20 Cybercabs at We, Robot Event with Price Below $30,000

Tesla Unveils 20 Cybercabs at We, Robot Event with Price Below $30,000

At the recent 'We, Robot' event in Hollywood, Tesla CEO Elon Musk introduced 20 prototypes of the Cybercab, a compact version of the Cybertruck. Musk announced that consumers could purchase the Cybercab for under $30,000, with an estimated operating cost of just $0.20 per mile. Tesla aims to start unsupervised Full Self-Driving operations in Texas and California next year, while production for the Cybercab is expected by 2026. The vehicle features inductive charging and lacks steering wheels and pedals, raising regulatory questions about compliance.

Created at: October 11, 2024 3:30am

Babbel Co-Founder Markus Witte Returns as Executive Chairman Following CEO Arne Schepker's Departure

Babbel Co-Founder Markus Witte Returns as Executive Chairman Following CEO Arne Schepker's Departure

Arne Schepker has stepped down as CEO of Babbel, with co-founder Markus Witte returning to lead the company as Executive Chairman and Managing Director. Schepker, who served nearly five years as CEO, cited a lack of sufficient commitment for his departure. Babbel's revenue grew sixfold during his tenure, reaching approximately $300 million. Witte aims to leverage AI to enhance language learning, focusing on creating personalized experiences for users. He believes the integration of advanced technology and Babbel's expertise can revolutionize language education. Witte also plans to foster positive experiences for employees and users alike.

Created at: October 11, 2024 2:30am

Amazon's Just Walk Out Team Faces Major Executive Changes

Amazon's Just Walk Out Team Faces Major Executive Changes

Three key executives responsible for Amazon's Just Walk Out technology have departed, signaling a shift in the company's checkout technology strategy. Jon Jenkins, Sanjay Dash, and Dilip Kumar have left their roles, with Kumar moving to oversee Amazon's AI chatbot initiative. Colleen Aubrey has been appointed as the new head of Just Walk Out under her expanded role in AWS solutions. Despite the leadership changes, Amazon maintains confidence in its checkout innovations, aiming to expand Just Walk Out to third-party stores next year after scaling back its physical store presence.

Created at: October 10, 2024 10:30pm

FTX's Ryan Salame Finds Humor in Dark Times as He Begins Prison Sentence

FTX's Ryan Salame Finds Humor in Dark Times as He Begins Prison Sentence

Ryan Salame, the former co-CEO of FTX Digital Markets, has commenced his seven-and-a-half-year prison sentence for fraud. Prior to his incarceration, Salame took to LinkedIn to share a humorous post announcing his new role as an 'Inmate at FCI Cumberland.' His post included a whimsical cartoon of people dancing around a cupcake, showcasing an absurd attempt to cope with his situation through humor. This comes amid ongoing legal troubles for several FTX executives following the company's collapse.

Created at: October 10, 2024 8:30pm

SpaceX Alums Launch $550M Deep Tech Fund to Back Innovative Startups

SpaceX Alums Launch $550M Deep Tech Fund to Back Innovative Startups

Interlagos, a venture capital firm founded by former SpaceX leaders, aims to raise $550 million for its inaugural fund focused on deep tech startups. The firm plans to invest in 26-32 companies, providing capital from inception to Series B stages. Founders Achal Upadhyaya and Tom Ochinero, both with extensive SpaceX experience, emphasize their commitment with a personal investment pledge. The fund targets sectors like AI, robotics, and biotech, amid a challenging VC landscape. If successful, Interlagos will compete with major players like Founders Fund and Andreessen Horowitz.

Created at: October 10, 2024 7:30pm

Tesla's Robotaxi Reveal Sparks Anticipation Amidst Industry Shifts

Tesla's Robotaxi Reveal Sparks Anticipation Amidst Industry Shifts

Tesla prepares to unveil its highly anticipated Robotaxi, with expectations of a detailed product roadmap and commercialization strategies. Elon Musk's vision aims to elevate Tesla's valuation from $750 billion to $5 trillion. Investors are keen to see a working prototype amid concerns over production hurdles, including federal safety regulations. Meanwhile, Lithios has secured $10 million in seed funding to extract lithium from underground reservoirs, addressing the rising demand for EV batteries. Additionally, Baidu plans to expand its ride-hailing service Apollo Go beyond China, targeting global markets.

Created at: October 10, 2024 5:30pm

Bluesky Leverages Meta’s Moderation Woes to Attract Threads Users

Bluesky Leverages Meta’s Moderation Woes to Attract Threads Users

Social networking startup Bluesky has launched an account on Threads to attract users frustrated by Meta's ongoing moderation issues. Amid complaints of content downranking and false account flagging, Bluesky aims to differentiate itself by emphasizing its community-guided moderation policies. Unlike Meta, Bluesky will not de-rank political content, tapping into user dissatisfaction with Threads. The platform promotes transparency and user choice, inviting users to explore its features. Despite its smaller user base, Bluesky is actively engaging with Threads users to gather feedback and improve its offerings.

Created at: October 10, 2024 5:30pm

Startup Exit Market Stagnation: Pitchbook Reports Record Backlog

Startup Exit Market Stagnation: Pitchbook Reports Record Backlog

A new report from Pitchbook reveals significant stagnation in the startup exit market, indicating a challenging landscape for investors. The report highlights that cash returns to limited partners have plummeted to levels reminiscent of the global financial crisis, with only 45.5% of VCs and angel investors actively funding startups in early 2024. Pitchbook notes a backlog of 57,674 companies awaiting exits, a record high, with late-stage firms making up 32.4% of this total. The situation has put pressure on VCs who hold $2.5 trillion in unicorn valuations, many of which have been dormant for nearly a decade.

Created at: October 10, 2024 5:00pm

LinkedIn: 10 Million Freelancers Join Services Marketplace Amid Tech Layoffs

LinkedIn: 10 Million Freelancers Join Services Marketplace Amid Tech Layoffs

LinkedIn has announced that 10 million users have signed up on its Services Marketplace, reflecting a 48% increase over the past year. This surge comes as over 100,000 tech workers were laid off in 2024, leading many to explore freelance opportunities. Service requests on the platform are also up by 65% year-over-year. Despite these gains, LinkedIn has not disclosed sales figures or pricing trends. The company aims to boost engagement and premium subscriptions, which have risen by 51%, contributing to $1.7 billion in revenue this fiscal year.

Created at: October 10, 2024 5:00pm

Numeric Secures $28M Series A to Revolutionize Accounting with AI

Numeric Secures $28M Series A to Revolutionize Accounting with AI

Numeric, an innovative accounting software startup, has raised $28 million in a Series A funding round led by Menlo Ventures, following a $10 million seed round just five months prior. Founded by Parker Gilbert, Numeric automates the book-closing process, significantly reducing the time accountants spend on month-end tasks. The software integrates AI to analyze financial data, providing explanations for variances and improving accuracy. With a four-fold revenue increase over the last year, Numeric is set to disrupt the accounting software market dominated by established players. Investors see a strong potential for future product expansions.

Created at: October 10, 2024 4:30pm

US and UK Launch Joint Initiative for Children’s Online Safety

US and UK Launch Joint Initiative for Children’s Online Safety

The U.S. and U.K. governments have established a joint working group aimed at enhancing online safety for children. Announced by U.S. Commerce Secretary Gina Raimondo and U.K. Technology Secretary Peter Kyle, the initiative seeks to develop common solutions to child safety challenges in the digital space. Lawmakers are increasingly concerned about social media's impact on minors, prompting this collaborative effort. The group will focus on transparency from tech platforms and aims to bolster the safety tech sector, which is projected to grow significantly in the coming years.

Created at: October 10, 2024 4:30pm

China Detains Foxconn Workers Amid Rising Tensions with Taiwan

China Detains Foxconn Workers Amid Rising Tensions with Taiwan

In a surprising turn of events, China has detained four Taiwanese employees at Foxconn's Zhengzhou plant, a key supplier for Apple's iPhone production. The Taiwanese government expressed concerns over the detentions, which are suspected to be politically motivated amid escalating tensions between China and Taiwan. Local authorities have not disclosed specific reasons for the detentions, leading to fears among investors regarding the safety of operations in China. The situation has prompted Taiwanese nationals to avoid non-essential travel to China and has raised alarms about the potential impact on Apple's reliance on Chinese manufacturing.

Created at: October 10, 2024 4:00pm

Massive Cyber Heist: 31 Million Passwords Stolen from Internet Archive

Massive Cyber Heist: 31 Million Passwords Stolen from Internet Archive

The Internet Archive has suffered a significant security breach, with 31 million passwords reportedly stolen by hackers. The attack led to a massive DDoS assault, leaving the organization and its users in disarray. Security experts noted that a database containing email addresses and usernames was exfiltrated, raising concerns over the organization's back-end security. Internet Archive's Brewster Kahle confirmed the breach and outlined steps taken to enhance security. The motives behind the attack remain unclear, though political motivations have been suggested. Users are urged to change their passwords immediately.

Created at: October 10, 2024 4:00pm

Nintendo Unveils Alarmo: A $100 Alarm Clock Inspired by Iconic Games

Nintendo Unveils Alarmo: A $100 Alarm Clock Inspired by Iconic Games

Nintendo has launched Alarmo, a $99.99 alarm clock that transports users into playful worlds from beloved games like Super Mario Odyssey and The Legend of Zelda. This unexpected product replaces the anticipated Switch 2, surprising fans with its innovative features, including motion-sensing technology and a relaxed wake mode. Alarmo received its first update shortly after release, introducing new functionalities like movement tracking and customizable sensor settings. Nintendo aims to enhance the device's game-like attributes, ensuring that Alarmo becomes a unique addition to households, especially for dedicated fans.

Created at: October 10, 2024 3:31pm

Zurich Surgeons Revolutionize Remote Surgery Using PS5's DualSense Controller

Zurich Surgeons Revolutionize Remote Surgery Using PS5's DualSense Controller

In an innovative study, Zurich surgeons successfully performed a remote operation on a pig 5,780 miles away in Hong Kong using the PlayStation 5's DualSense controller. The surgeons praised the controller's precision, which facilitated a remote endoscopy while maintaining latency below 300 milliseconds for real-time control. This groundbreaking experiment aims to enhance remote surgical capabilities, especially in regions lacking medical expertise. The study builds on previous experiments utilizing older PlayStation controllers, showcasing the potential of gaming technology in the medical field.

Created at: October 10, 2024 3:31pm

Android 16 to Revolutionize Multitasking with Expanded Bubbles API

Android 16 to Revolutionize Multitasking with Expanded Bubbles API

Google is set to enhance the Bubbles API feature in the upcoming Android 16, allowing users to place any application in a floating bubble. Currently limited to messaging apps, this new functionality aims to streamline multitasking across all applications. The feature was hinted at during the Android 15 beta testing phase and promises to make switching between tasks more efficient. Additionally, a new 'bubble bar' may be introduced to further improve the multitasking experience, particularly on larger devices like tablets. However, the final inclusion of these features remains uncertain.

Created at: October 10, 2024 3:31pm

Last Call for Student Pass Discounts at TechCrunch Disrupt 2024

Last Call for Student Pass Discounts at TechCrunch Disrupt 2024

TechCrunch Disrupt 2024 is set to take place from October 28-30 at Moscone West in San Francisco, offering students and recent graduates a chance to secure discounted Student Passes. Attendees will have full access to the Expo Hall, six industry stages, and 250 deep-dive sessions focused on various tech topics. The event will feature notable speakers and intense competitions, including the Startup Battlefield 200. Students are encouraged to grab their passes soon as prices will rise at the door, ensuring they don’t miss out on networking with industry leaders and innovators.

Created at: October 10, 2024 3:31pm

Germany Concludes Antitrust Case Against Meta, Enforces Data Limitations

Germany Concludes Antitrust Case Against Meta, Enforces Data Limitations

Germany's antitrust authority has finalized its challenge against Meta's 'superprofiling' practices, marking a significant victory for privacy rights. The Bundeskartellamt announced that Meta has dropped its appeal and agreed to implement measures limiting data collection across its platforms. Key changes include a new Accounts Center for users to manage data sharing and clearer options for data consent. While some changes are already in effect, others will roll out soon. This outcome highlights ongoing regulatory scrutiny of Meta's data practices and sets a precedent for future privacy protections across Europe.

Created at: October 10, 2024 3:30pm

Swsh Launches Gen Z-Focused Photo Sharing App with Unique Features

Swsh Launches Gen Z-Focused Photo Sharing App with Unique Features

Swsh has relaunched its photo-sharing app aimed at Gen Z, initially starting as a polling game. The app now allows users to filter out alcoholic drinks and hide unwanted photos, catering to a younger demographic. An AI facial recognition tool helps users search for personal images, while a tagging feature simplifies reconnecting with friends. With a focus on college events, Swsh aims to streamline photo sharing for fraternities and sororities. Despite modest initial downloads, the app has received $700,000 in new funding, raising its total to $2.4 million, reflecting investor confidence in its potential.

Created at: October 10, 2024 3:30pm

Telegram Launches Cost-Effective Phone Number Verification Service for Businesses

Telegram Launches Cost-Effective Phone Number Verification Service for Businesses

Telegram has introduced a new phone number verification service aimed at businesses, allowing them to replace traditional SMS methods. This service, known as the 'Verification Platform,' offers a more secure and cost-effective solution at just $0.01 per verification code. As companies are encouraged to utilize Telegram for two-factor authentication, users will receive codes in a special chat labeled 'Verification Codes.' Telegram's service promises enhanced convenience and security, positioning itself as a modern alternative in the evolving tech security landscape.

Created at: October 10, 2024 3:00pm

Samsung Galaxy A16: A Game Changer with Six Years of Updates

Samsung Galaxy A16: A Game Changer with Six Years of Updates

Samsung has unveiled the Galaxy A16, marking it as the first non-flagship smartphone to receive six years of software updates. Priced at €230, it aims to attract budget-conscious consumers globally. The A16 features a larger 6.7-inch Super AMOLED display and a more powerful processor than its predecessor, the Galaxy A15. It maintains a triple camera setup and boasts a robust 5,000mAh battery with fast charging. Additional features include IP54 water resistance and expandable storage up to 1TB. This long-term support positions the Galaxy A16 as a strong contender in the mid-range market.

Created at: October 10, 2024 3:00pm

Tesla's 'We, Robot' Event Set to Unveil Self-Driving Robotaxi and Optimus Insights

Tesla's 'We, Robot' Event Set to Unveil Self-Driving Robotaxi and Optimus Insights

Tesla is gearing up for its highly anticipated 'We, Robot' event on October 10, where it will reveal its first self-driving robotaxi, designed specifically for a new ride-hailing service. Following previous delays, CEO Elon Musk promises a showcase of the unique vehicle alongside updates on the Optimus robot. The event will also highlight the Tesla Network, enabling EV owners to participate in the robotaxi fleet. Live streaming will commence at 7 PM Pacific time, with expectations for significant announcements impacting the future of autonomous transportation.

Created at: October 10, 2024 3:00pm

Apple TV+ Now Available as an Add-On to Amazon Prime Video

Apple TV+ Now Available as an Add-On to Amazon Prime Video

In a groundbreaking partnership, Apple TV+ will soon be available as an add-on to Amazon Prime Video subscriptions. This collaboration enables users to access Apple’s award-winning content directly through the Prime Video platform, expanding its reach to Android users as well. The add-on will cost an additional $9.99 per month, enhancing Prime Video's offerings. While both companies have yet to announce a specific launch date, they aim to provide a seamless streaming experience. This move reflects a growing trend of partnerships within the streaming industry to offer more comprehensive content options to viewers.

Created at: October 10, 2024 2:30pm

Reporter Uses AI to Spam 2,843 Job Applications in One Hour

Reporter Uses AI to Spam 2,843 Job Applications in One Hour

In a remarkable experiment, reporter Jason Koebler applied to 2,843 jobs using the AI tool AI Hawk while working a restaurant shift. The tool automated tasks such as entering personal information, generating resumes, and writing customized cover letters. This phenomenon highlights a growing trend where AI is increasingly replacing human involvement in job applications and hiring processes. A 2023 survey revealed that 42% of companies utilize AI screening tools. The long-term effects on traditional applicants remain uncertain as the job market evolves.

Created at: October 10, 2024 2:30pm

Opera Unveils AI-Powered Tab Management with Natural Language Commands

Opera Unveils AI-Powered Tab Management with Natural Language Commands

Opera has launched an innovative feature that allows users to control their browser tabs using natural language commands. Users can group, pin, bookmark, or close tabs simply by typing requests into the Aria command bar. This client-side processing ensures user data remains private, as no information is sent externally. The new feature is especially beneficial for those managing numerous tabs, enhancing organization and efficiency. Currently available in the developer version, Opera aims to incorporate this tool into its general release. This move marks a significant step in integrating AI into user-friendly browser functionalities.

Created at: October 10, 2024 2:00pm

Scope3 Launches Initiative to Track AI's Carbon Footprint

Scope3 Launches Initiative to Track AI's Carbon Footprint

Scope3, founded by Brian O’Kelley, has begun tracking the carbon footprint of AI in digital advertising. This initiative follows O’Kelley’s realization during an MIT course that the significant carbon emissions from metals come from mining, prompting him to pivot to digital ads. With a new funding round led by GV, raising $25 million, Scope3 aims to reduce waste in programmatic advertising while addressing environmental concerns. The startup's approach combines economic efficiency with sustainability, leveraging AI to enhance its data models and client offerings.

Created at: October 10, 2024 1:00pm

Relyance Secures $32M to Enhance AI Data Compliance Solutions

Relyance Secures $32M to Enhance AI Data Compliance Solutions

Relyance AI has raised $32 million in a Series B funding round, bringing its total funding to $59 million. Founded by Abhi Sharma and Leila Golchehreh, the startup aims to assist companies in navigating complex data regulations as AI adoption rises. The platform analyzes data sources to ensure compliance with governance policies and privacy laws. With a growing client base, including Coinbase and Snowflake, Relyance plans to expand its team to 90 employees by year-end. The funding will focus on enhancing engineering capabilities and market outreach to meet increasing demand for data security solutions in AI.

Created at: October 10, 2024 12:30pm

Diagram Expands into Climate Tech with $80 Million CAD Fund

Diagram Expands into Climate Tech with $80 Million CAD Fund

Montreal-based venture studio Diagram has announced the launch of its ClimateTech Fund, raising $80 million CAD, surpassing its initial target of $60 million CAD. This marks Diagram's first fund focused on climate technology, aiming to support startups in the climate sector. The firm plans to provide capital, customer connections, and product development frameworks to help early-stage companies succeed. Diagram is already developing two startups under this fund, including Relion, which focuses on EV charging infrastructure, and Lyteflo, an EV sales enablement solution. Interest in climate-focused investments remains robust despite broader fundraising challenges.

Created at: October 10, 2024 12:00pm

Fidelity Reports Data Breach Affecting 77,000 Customers' Personal Information

Fidelity Reports Data Breach Affecting 77,000 Customers' Personal Information

Fidelity Investments has confirmed a data breach that compromised the personal information of 77,000 customers. The breach occurred between August 17 and August 19, when an unnamed third party accessed information using two newly established customer accounts. Fidelity detected the unauthorized access on August 19 and promptly terminated it, stating that customer accounts were not accessed. The exact types of compromised data remain unclear, and Fidelity has not provided additional details on its website. The firm currently serves over 51 million individual investors, managing approximately $14.1 trillion in total customer assets.

Created at: October 10, 2024 12:00pm

MiLaboratories Secures $10M Funding to Revolutionize Genomic Research

MiLaboratories Secures $10M Funding to Revolutionize Genomic Research

San Francisco-based MiLaboratories has raised $10 million in Series A funding to enhance its computational biology platform designed for genomic research. The platform simplifies the analysis of vast genomic data, integrating features like data visualization and generative AI. MiLaboratories aims to empower bioinformaticians, allowing them to focus on complex tasks rather than routine data processing. Currently in use by around 300 labs, the platform also facilitates third-party app development. With major pharma companies as clients, the startup is poised to make significant advancements in vaccine and cancer treatment research.

Created at: October 10, 2024 8:00am