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Audi spinoff holoride collects $12m in Series A led by Terranet AB

By Rebecca Bellan

Holoride, the company that’s building an immersive XR in-vehicle media platform, today announced it raised €10 million (approximately $12 million) in its Series A investing round, earning the company a €30 million ($36 million) valuation. 

The Swedish ADAS software development company Terranet led the round with €3.2 million (~$3.9 million), followed by a group of Chinese financial and automotive technology investors, organized by investment professional Jingjing Xu, and educational and entertainment game development company Schell Games, which has partnered with holoride in the past to create content. 

Holoride will use the fresh funds to search for new developers and other talent both as it prepares to expand into global markets like Europe, the United States and Asia, and in advance of its summer 2022 launch for private passenger cars. 

“This goes hand-in-hand with putting more emphasis on the content creator community, and as of summer this year, releasing a lot of tools to help them build content for cars on our platform,” Nils Wollny, holoride’s CEO and founder, told TechCrunch. 

The Munich-based company launched at CES in 2019. TechCrunch got to test out its in-car virtual reality system. Our team was surprised, and delighted, to find that holoride had figured out how to quell the motion sickness caused both by being a passenger in a vehicle, and by using a VR headset. The key? Matching the experience users have within the headset to the movement of the vehicle. Once holoride launches, users will be able to download the holoride app to their phones or other personal devices like VR headsets, which will connect wirelessly to the car itself, and extend their reality.  

“Our technology has two sides,” said Wollny. “One is the localization, or positioning software, that takes data points from the car and performs real time synchronization. The other part is what we call our Elastic Software Development Kit. Content creators can build elastic content, which adapts to your travel time and routes. The collaboration with Terranet means their sensors and software stack that allow for a more precise capture and interpretation of the environment at an even faster speed with higher accuracy will enable us in the future for even more possibilities.”

Terranet’s VoxelFlow™ software, which was originally designed for ADAS applications, will help holoride advance its real time, in-vehicle XR entertainment. Terranet’s CEO Par-olof Johannesson, describes VoxelFlow™ as a new paradigm within computer vision and object identification, wherein a combination of sensors, event cameras and a laser scanner are integrated into a car’s windshield and headlamps in order to calculate the distance, direction and speed of an object.

Terranet’s VoxelFlow™ uses computer vision and object identification via a combination of sensors, event cameras and a laser scanner, which are integrated into a car’s windshield and headlamps, in order to calculate the distance, direction and speed of an object.

Holoride, which is manufacturer-agnostic, will be able to use the data points calculated by VoxelFlow™ in real time if holoride were being used in a vehicle that was built integrated with Terranet’s software. But more important is the ability for holoride to reuse 3D event data for XR applications, giving it to creators so they can create the most interactive experience. Terranet is also looking forward to opening up a new vertical for VoxelFlow™

“We are of course very eager to access holoride’s wide pipeline, as well,” said Johannesson. “This deal is very much about expanding the addressable market and tapping into the heart of the automotive industry, where lead times and turnaround times are usually pretty long.”

Holoride is on a mission to revolutionize the passenger experience by turning dead car time into interactive experiences that can run the gamut of gaming, education, productivity, mindfulness and more. For example, around Halloween 2019, holoride teamed up with Ford and Universal Pictures to immerse riders into the frightening world of the Bride of Frankenstein, replete with monsters jumping out and tasks for riders to perform. 

Wollny said holoride always has an eye towards the next step, even though its first product hasn’t gone to market yet. He understands that the future is in autonomous vehicles, and wants to build an essential element of the future tech stack of future cars, cars in which everyone is a passenger. 

“Car manufacturers always focus on the buyer of the car or the driver, but not so much on the passenger,” said Wollny. “The passenger is who holoride really focuses on. We want to turn every vehicle into a moving theme park.”

Applied XL raises $1.5M to build ‘editorial algorithms’ that track real-time data

By Anthony Ha

AppliedXL, a startup creating machine learning tools with what it describes as a journalistic lens, is announcing that it has raised $1.5 million in seed funding.

Emerging from the Newlab Venture Studio last year, the company is led by CEO Francesco Marconi (previously R&D chief at The Wall Street Journal) and CTO Erin Riglin (former WSJ automation editor). Marconi told me that AppliedXL started out by working on a number of different data and machine learning projects as it looked for product-market fit — but it’s now ready to focus on its first major industry, life sciences, with a product launching broadly this summer.

He said that AppliedXL’s technology consists of “essentially a swarm of editorial algorithms developed by computational journalists.” These algorithms benefit from “the point of view and expertise of journalists, as well as taking into account things like transparency and bias and other issues that derive from straightforward machine learning development.”

Marconi compared the startup to Bloomberg and Dow Jones, suggesting that just as those companies were able to collect and standardize financial data, AppliedXL will do the same in a variety of other industries.

He suggested that it makes sense to start with life sciences because there’s both a clear need and high demand. Customers might include competitive intelligence teams as pharmaceutical companies and life sciences funds, which might normally try to track this data by searching large databases and receiving “data vomit” in response.

“Our solution for scaling [the ability to spot] newsworthy events is to design the algorithms with the same principles that a journalist would approach a story or an investigation,” Marconi said. “It might be related to the size of the study and the number of patients, it might be related to a drug that is receiving a lot of attention in terms of R&D investment. All of these criteria that science journalist would bring to clinical trials, we’re encoding that into algorithms.”

Eventually, Marconi said the startup could expand into other categories, building industry-“micro models.” Broadly speaking, he suggested that the company’s mission is “measuring the health of people, places and the planet.”

The seed funding was led by Tuesday Capital, with participation from Frog Ventures, Team Europe and Correlation Ventures.

“With industry leading real-time data pipelining, Applied XL is building the tools and platform for the next generation of data-based decision making that business leaders will rely on for decades,” said Tuesday Capital Partner Prashant Fonseka in a statement. “Data is the new oil and the team at Applied XL have figured out how to identify, extract and leverage one of the most valuable commodities in the world.”

 

Kandji nabs $60M Series B as Apple device management platform continues to thrive

By Ron Miller

During the pandemic, having an automated solution for onboarding and updating Apple devices remotely has been essential, and today Kandji, a startup that helps IT do just that, announced a hefty $60 million Series B investment.

Felicis Ventures led the round with participation from SVB Capital, Greycroft, Okta Ventures and The Spruce House Partnership. Today’s round comes just 7 months after a $21 million Series A, bringing the total raised across three rounds to $88.5 million, according to the company.

CEO Adam Pettit says that the company has been growing in leaps in bounds since the funding round last October.

“We’ve seen a lot more traction than even originally anticipated. I think every time we’ve put targets up onto the board of how quickly we would grow, we’ve accelerated past them,” he said. He said that one of the primary reasons for this growth has been the rapid move to work from home during the pandemic.

“We’re working with customers across 40+ industries now, and we’re even seeing international customers come in and purchase so everyone now is just looking to support remote workforces and we provide a really elegant way for them to do that,” he said.

While Pettit didn’t want to discuss exact revenue numbers, he did say that it has tripled since the Series A announcement. That is being fueled in part he says by attracting larger companies, and he says they have been seeing more and more of them become customers this year.

As they’ve grown revenue and added customers, they’ve also brought on new employees, growing from 40 to 100 since October. Pettit says that the startup is committed to building a diverse and inclusive culture at the company and a big part of that is making sure you have a diverse pool of candidates to choose from.

“It comes down to at the onset just making the decision that it’s important to you and it’s important to the company, which we’ve done. Then you take it step by step all the way through, and we start at the back into the funnel where are candidates are coming from.”

That means clearly telling their recruiting partners that they want a diverse candidate pool. One way to do that is being remote and having a broader talent pool to work with. “We realized that in order to hold true to [our commitment], it was going to be really hard to do that just sticking to the core market of San Diego or San Francisco, and so now we’ve expand expanded nationally and this has opened up a lot of [new] pools of top tech talent,” he said.

Pettit is thinking hard right now about how the startup will run its offices whenever they allowed back, especially with some employees living outside major tech hubs. Clearly it will have some remote component, but he says that the tricky part of that will be making sure that the folks who aren’t coming into the office still feel fully engaged and part of the team.

Window Snyder’s new startup Thistle Technologies raises $2.5M seed to secure IoT devices

By Zack Whittaker

The Internet of Things has a security problem. The past decade has seen wave after wave of new internet-connected devices, from sensors through to webcams and smart home tech, often manufactured in bulk but with little — if any — consideration to security. Worse, many device manufacturers make no effort to fix security flaws, while others simply leave out the software update mechanisms needed to deliver patches altogether.

That sets up an entire swath of insecure and unpatchable devices to fail, and destined to be thrown out when they break down or are invariably hacked.

Security veteran Window Snyder thinks there is a better way. Her new startup, Thistle Technologies, is backed with $2.5 million in seed funding from True Ventures with the goal of helping IoT manufacturers reliably and securely deliver software updates to their devices.

Snyder founded Thistle last year, and named it after the flowering plant with sharp prickles designed to deter animals from eating them. “It’s a defense mechanism,” Snyder told TechCrunch, a name that’s fitting for a defensive technology company. The startup aims to help device manufacturers without the personnel or resources to integrate update mechanisms into their device’s software in order to receive security updates and better defend against security threats.

“We’re building the means so that they don’t have to do it themselves. They want to spend the time building customer-facing features anyway,” said Snyder. Prior to founding Thistle, Snyder worked in senior cybersecurity positions at Apple, Intel, and Microsoft, and also served as chief security officer at Mozilla, Square, and Fastly.

Thistle lands on the security scene at a time when IoT needs it most. Botnet operators are known to scan the internet for devices with weak default passwords and hijack their internet connections to pummel victims with floods of internet traffic, knocking entire websites and networks offline. In 2016, a record-breaking distributed denial-of-service attack launched by the Mirai botnet on internet infrastructure giant Dyn knocked some of the biggest websites — Shopify, SoundCloud, Spotify, Twitter — offline for hours. Mirai had ensnared thousands of IoT devices into its network at the time of the attack.

Other malicious hackers target IoT devices as a way to get a foot into a victim’s network, allowing them to launch attacks or plant malware from the inside.

Since device manufacturers have done little to solve their security problems among themselves, lawmakers are looking at legislating to curb some of the more egregious security mistakes made by default manufacturers, like using default — and often unchangeable — passwords and selling devices with no way to deliver security updates.

California paved the way after passing an IoT security law in 2018, with the U.K. following shortly after in 2019. The U.S. has no federal law governing basic IoT security standards.

Snyder said the push to introduce IoT cybersecurity laws could be “an easy way for folks to get into compliance” without having to hire fleets of security engineers. Having an update mechanism in place also helps to keeps the IoT devices around for longer — potentially for years longer — simply by being able to push fixes and new features.

“To build the infrastructure that’s going to allow you to continue to make those devices resilient and deliver new functionality through software, that’s an incredible opportunity for these device manufacturers. And so I’m building a security infrastructure company to support that security needs,” she said.

With the seed round in the bank, Snyder said the company is focused on hiring device and back-end engineers, product managers, and building new partnerships with device manufacturers.

Phil Black, co-founder of True Ventures — Thistle’s seed round investor — described the company as “an astute and natural next step in security technologies.” He added: “Window has so many of the qualities we look for in founders. She has deep domain expertise, is highly respected within the security community, and she’s driven by a deep passion to evolve her industry.”

MasterClass co-founder’s Outlier.org raises $30M for affordable, virtual college courses

By Anthony Ha

Outlier.org — a startup offering intro-level college courses online and at a relatively affordable price — is announcing that it has raised $30 million in Series B funding.

The startup was founded by CEO Aaron Rasmussen, previously co-founder at MasterClass (which Axios reports is raising new funding at a $2.5 billion valuation). Like Rasmussen’s old company, Outlier offers beautifully shot online courses; unlike MasterClass, students can actually earn college credit.

When Outlier launched in the fall of 2019, Rasmussen said his goal was to make a college education more affordable and accessible — though he also told me that Outlier is only focused on bringing intro-level classes online, not the entire curriculum.

This idea seems even more appealing during a pandemic, when a completely “normal” college experience isn’t really available to anyone. In fact, Rasmussen said there’s been a surge in interest from universities that want to partner with Outlier, especially since some colleges are struggling to attract students — so with difficult financial choices ahead, they can use Outlier to supplement their offerings.

“We’ve learned that many universities love the idea of high-quality intro classes for students,” he said. “That was a question mark for us, [but] many say, ‘We want to focus on upper level courses, so this a great way to keep people on track.'”

To that end, Outlier has hired Anjuli Gupta as its head of partnerships. Gupta previously led university partnerships at Coursera, and Rasmussen suggested the company could work with high schools and employers, not just universities.

Of course, the pandemic has created some challenges for Outlier as well. Initially, in order to produce its classes, Rasmussen said the company was shipping its instructors “literally 500 pounds of cinematography equipment.” Now it has developed a production method where a small crew sets everything up, then the instructor teaches on the set alone.

“It’s just you, a motion-controlled dolly and little pieces of tape telling you where to push all the buttons,” he said. “Then [the crew] remotely runs the cameras, you’re hitting record and they can see everything coming in through the feeds, so you’re remotely directed.”

Outlier currently offers six classes, including Calculus I, Microeconomics, Astronomy and Philosophy, with a goal of expanding to 14 by the end of 2022. Rasmussen said the company is now allowing students to join courses in new cohorts every two weeks — so even though the lectures are pre-recorded, you’re still moving through the class with a group of fellow students. And Outlier has built a variety of custom student support tools — for example, the company can identify when a student is “falling behind” and reach out.

The startup has also expanded its partnership with the University of Pittsburgh into a five-year agreement, with students receiving credit from the school and faculty at the University of Pittsburgh at Johnstown providing academic oversight. (Though it seems that some faculty members are unhappy about the arrangement.) They’ve also partnered to offer $3.8 million worth of scholarships to 1,000 frontline workers.

Each Outlier course costs $400, which the company says is approximately one-sixth the cost of a traditional college class. Still, Rasmussen said, “I couldn’t have afforded it when I was growing up,” so he’s trying to find ways to make the program even more affordable — hence the scholarships, as well as monthly payment plans with Klarna (Outlier covers the interest on student payments).

The new funding was led by GV (formerly known Google Ventures), with participation from Unusual Ventures, GSV, Harrison Metal and Gaingels, bringing Outlier’s total funding to $46 million.

“We’re inspired by Outlier.org’s mission to increase educational access and equity, and to reduce student debt,” said GV’s John Lyman in a statement. “We strongly believe in Aaron Rasmussen and the founding team’s vision to provide better access to more affordable education for hundreds of millions of students around the globe.”

RapidSOS and Axon ink deal to give better real-time information to emergency responders

By Danny Crichton

Every time an emergency responder or police officer responds to a 911 dispatch, they enter an unknown terrain. What’s the incident? Who’s involved? Is anyone dangerous or holding a weapon? Is someone injured and perhaps has an underlying health condition that the responders need to know about? As prominent news stories this week and over the last few years constantly remind us, having the right context while responding can turn a potential tragedy into a much more positive story.

RapidSOS is a startup I’ve been watching for years. The company raised an $85 million Series C round this February to bring real-time location information from all sorts of devices — from Apple and Android smartphones to Sirius XM satellite radios — into the hands of 911 call centers when users make an emergency call. Accurate location can help dispatchers send responders to exactly the right place, offering faster assistance and therefore saving lives.

The company announced this morning a new partnership with Axon, the company behind Taser, the electroshock weapon designed as a non-lethal alternative to traditional firearms, and a variety of body cams and other technologies for public safety officials. In recent years, Axon has increasingly emphasized a suite of cloud offerings that can fuse data from its devices with software to creates operations systems for public safety agencies.

Through the partnership, Axon will integrate the data that its devices generate such as body cam footage and Taser discharge alerts into RapidSOS’s Jurisdiction Review, which is used by dispatchers to place a location and relevant information from a caller a visual map. For instance, a dispatcher might now know the location of police or medical responders, and be able to update a 911 caller on the estimated time of arrival or whether they need help getting access to a location.

Likewise, RapidSOS’s location, medical, and other information that it pulls in from user devices during an emergency call will be sent to Axon Respond devices. Frontline responders will therefore have direct access to a 911 caller’s location information or medical information if they have a profile setup, without having to wait for a dispatcher to route those facts to them.

Josh Pepper, VP of product management at Axon, said “What we’re always trying to do is how can we get [first responders] the right information about the incident, the right information about the people involved, the right information about the location and all of the disposition of the units involved, as fast and as accurately as we can … so that they can have situational awareness of what’s happening.” RapidSOS’s data will augment other information streams, helping first responders make those critical split-second decisions.

Michael Martin, CEO and co-foudner of RapidSOS, said “for the first time now, your smartphone, your 911 responder and the police officer in the field can all simultaneously and transparently share data with each other.”

In tech, we are used to having comprehensive information about our products through data analytics. In the emergency space — even today — first responders can lack even the most rudimentary information like location when responding to a call. RapidSOS, Axon and a slew of other companies are trying to bridge that digital divide.

A UI mockup of how Axon’s information will display within RapidSOS’s Jurisdiction View. Image Credits: RapidSOS

This is the Jurisdiction View from RapidSOS’s platform, with a few elements added to mockup how Axon’s information will be integrated into the product. The two starred badges represent the locations of responding police officers in the field, converging on the location (green pin) of a 911 caller. In the bottom-right corner, a live body cam feed from a police officer can be routed straight to a 911 dispatcher, giving them a real-time look at what is transpiring on the ground. Meanwhile in the info box to the left, we can see that a Taser weapon was fired (noted under “Device Alerts”) and the 911 dispatcher can text to the responding officer directly through the platform.

The companies said the partnership will bear fruit this year as both platforms integrate the data streams into their respective products.

Medchart raises $17M to help businesses more easily access patient-authorized health data

By Darrell Etherington

Electronic health records (EHR) have long held promise as a means of unlocking new superpowers for caregiving and patients in the medical industry, but while they’ve been a thing for a long time, actually accessing and using them hasn’t been as quick to become a reality. That’s where Medchart comes in, providing access to health information between businesses, complete with informed patient consent, for using said data at scale. The startup just raised $17 million across Series A and seed rounds, led by Crosslink Capital and Golden Ventures, and including funding from Stanford Law School, rapper Nas and others.

Medchart originally started out as more of a DTC play for healthcare data, providing access and portability to digital health information directly to patients. It sprung from the personal experience of co-founders James Bateman and Derrick Chow, who both faced personal challenges accessing and transferring health record information for relatives and loved ones during crucial healthcare crisis moments. Bateman, Medchart’s CEO, explained that their experience early on revealed that what was actually needed for the model to scale and work effectively was more of a B2B approach, with informed patient consent as the crucial component.

“We’re really focused on that patient consent and authorization component of letting you allow your data to be used and shared for various purposes,” Bateman said in an interview. “And then building that platform that lets you take that data and then put it to use for those businesses and services, that we’re classifying as ‘beyond care.’ Whether those are our core areas, which would be with your, your lawyer, or with an insurance provider, or clinical researcher — or beyond that, looking at a future vision of this really being a platform to power innovation, and all sorts of different apps and services that you could imagine that are typically outside that realm of direct care and treatment.”

Bateman explained that one of the main challenges in making patient health data actually work for these businesses that surround, but aren’t necessarily a core part of a care paradigm, is delivering data in a way that it’s actually useful to the receiving party. Traditionally, this has required a lot of painstaking manual work, like paralegals poring over paper documents to find information that isn’t necessarily consistently formatted or located.

“One of the things that we’ve been really focused on is understanding those business processes,” Bateman said. “That way, when we work with these businesses that are using this data — all permissioned by the patient — that we’re delivering what we call ‘the information,’ and not just the data. So what are the business decision points that you’re trying to make with this data?”

To accomplish this, Medchart makes use of AI and machine learning to create a deeper understanding of the data set in order to be able to intelligently answer the specific questions that data requesters have of the information. Therein lies their longterm value, since once that understanding is established, they can query the data much more easily to answer different questions depending on different business needs, without needing to re-parse the data every single time.

“Where we’re building these systems of intelligence on top of aggregate data, they are fully transferable to making decisions around policies for, for example, life insurance underwriting, or with pharmaceutical companies on real world evidence for their phase three, phase four clinical trials, and helping those teams to understand, you know, the the overall indicators and the preexisting conditions and what the outcomes are of the drugs under development or whatever they’re measuring in their study,” Bateman said.”

According to Ameet Shah, Partner at co-lead investor for the Series A Golden Ventures, this is the key ingredient in what Medchart is offering that makes the company’s offering so attractive in terms of long-term potential.

“What you want is you both depth and breadth, and you need predictability — you need to know that you’re actually getting like the full data set back,” Shah said in an interview. “There’s all these point solutions, depending on the type of clinic you’re looking at, and the type of record you’re accessing, and that’s not helpful to the requester. Right now, you’re putting the burden on them, and when we looked at it, we were just like ‘Oh, this is just a whole bunch of undifferentiated heavy lifting that the entire health tech ecosystem is trying to like solve for. So if [Medchart] can just commoditize that and drive the cost down as low as possible, you can unlock all these other new use cases that never could have been done before.”

One recent development that positions Medchart to facilitate even more novel use cases of patient data is the 21st Century Cures Act, which just went into effect on April 5, provides patients with immediate access, without charge, to all the health information in their electronic medical records. That sets up a huge potential opportunity in terms of portability, with informed consent, of patient data, and Bateman suggests it will greatly speed up innovation built upon the type of information access Medchart enables.

“I think there’s just going to be an absolute explosion in this space over the next two to three years,” Bateman said. “And at Medchart, we’ve already built all the infrastructure with connections to these large information systems. We’re already plugged in and providing the data and the value to the end users and the customers, and I think now you’re going to see this acceleration and adoption and growth in this area that we’re super well-positioned to be able to deliver on.”

Forget the piggy bank, Till Financial’s kids’ spend management app gets Gates’ backing

By Mary Ann Azevedo

Today’s children and teens want more power and control over their spending.

And while there are a number of financial services and apps out there aimed at helping this demographic save and invest money (Greenlight being among the most popular and well-known), one startup is coming at the space from another angle: helping younger people also better manage their spend.

Till Financial describes itself as a collaborative family financial tool that aims to empower kids to become smarter spenders. The New York-based company’s banking platform is designed to encourage “open and honest” discussions between parents and their kids. And it has just raised $5 million to help it advance on that goal.

A slew of investors put money in the round, including Elysian Park Ventures, Melinda Gates’ venture fund Pivotal Ventures with Magnify Ventures, Afore Capital, Luge Capital, Alpine Meridian Ventures, The Gramercy Fund, SM Ventures (the family office of the founders/CEOs of Stadium Goods) and Lightspeed Venture Partners’ Scout Fund. Also participating were angel investors such as the founders of fintech Petal, the founders of alcohol marketplace Drizly, the president of Transactis, and the president of 1800Flowers.

Part of Till’s goal is to help kids “learn by doing” and gain confidence in spending decisions. It arms them with a bank account, digital and physical debit card and goal-based savings. For example, say a teen wants to buy an iPad, they can set up an account that they can save toward that iPad and give family members (such as grandparents, for example) the opportunity to pitch in the same amount, or more. They can also set up recurring payments for things like Netflix or Spotify subscriptions so they can get a taste of what it’s like to pay regular bills.

“Parents and the current banking options miss the point when they just focus on savings. We need to first prepare kids to be Smarter Spenders, supported by savings and investing,” said Taylor Burton, who founded the company with Tom Pincince. “On Till, kids learn to spend with intention and purpose, while parents gain confidence and trust based on transparency and accountability.”

To Pincince, the market is clearly underserved.

“The legacy banks really don’t care about this young person and the early digital players are really missing the mark,” he said. 

And despite the plethora of apps targeting the demographic, Pincince believes there’s plenty of room for the right players.

“The reality is you’re talking about a swath of kids under the age of 18 and over the age of eight that is the single largest unbanked population,” he said. “We’re not fighting to be the top of your son’s wallet. We’re fighting to be the first product into that wallet.”

Indeed, it’s a big market — the average middle-class family in the U.S. spends $284,570 per child by the time they turn 18.

The platform is free to all families and, early on, attracted the attention of Peggy Mangot, operating partner/COO of PayPal Ventures. She invested personally in Till in its pre-seed rounds. Prior to PayPal, Mangot ran development of Greenhouse, Well Fargo’s fee-free mobile banking app that aimed to help younger users build responsible spending habits.

Mangot has three kids and recalls that when they were shopping online, she’d give them her credit card. Or, if they were going to the corner store or meeting with friends, she’d give them cash.

“But that way, the money is meaningless to them. They didn’t really know how to understand what things cost and there was no sense of ownership,” she said. “It was just me handing over cash or a card.”

What attracted her the most about Till, Mangot said, was the team’s approach to treat younger people “with respect and agency.”

She also believes that by helping children and teens understand important financial lessons at a younger age, the world will ultimately be full of more responsible adults.

“By putting these tools in the hands of these young people early, they’ll have years and years of experience before they’re more independent and have to manage their paycheck and bills,” Mangot told TechCrunch. “Once you have mass adoption, it’s going to create a much more financially literate, confident and in control set of young adults than we’ve ever had.”

Besides making money on interchange fees, Till aims to earn revenue by partnering with merchants to offer rewards to users. It also plans to earn referral fees by referring the teens to other financial institutions when they get older and have different needs.

“It’s not our intention to be your son or daughter’s forever bank. It’s our intention to be the first bank,” Pincince said. “So, they hit the age of maturity, we’re actually giving them a high-five off of our platform and introducing them to maybe their first college loan or their first credit card.”

Will Budweiser brew eggs and will Post cereal make meat?

By Jonathan Shieber

Corporations are quickly waking up to the market potential of alternative proteins with the nation’s biggest consumer brands continuing to make investments and create partnerships with startup companies helping consumers transition to healthier and more environmentally sustainable diets.

As Earth Week draws to a close (thankfully) new partnerships announced over the past week show the potential for new technologies to transform old businesses.

Yesterday the New York-based ZX Ventures, the investment and innovation arm of AB InBev, said that it would be partnering with Clara Foods, a developer of protein production technologies including (but not limited to), brewing egg substitutes. That’s right, the makers of Budweiser are hatching a scheme to make other kinds of liquids that are less potable and more poachable.

In that case, the yolk would definitely be on you, future consumer.

“Since day one, Clara has been on a mission to accelerate the world’s transition to animal-free protein, starting with the egg. More than one trillion eggs are consumed globally every year and corporate commitments for cage-free aren’t enough,” said Arturo Elizondo, the chief executive and co-founder of Clara Foods. “We’re thrilled to be partnering with the world’s largest fermentation company to work together to enable a kinder, greener, and more delicious future. This partnership is a major step towards realizing our vision.”

Graph showing the increasing size of investments into alternative proteins in 2020. From 2019 to 2020 investments in alternative proteins soared from just over $1 billion to $3 billion led by investments in plant protein products. Image Credit: Good Food Institute

There are market-driven reasons for the partnership. Demand for high quality proteins is expected to jump up to 98% by 2050, according to research cited by the two companies.

“Meeting the increased demand for food requires breakthrough solutions built on collaboration and innovation that spans several industry domains – both old and new. The ancient and natural process of fermentation can be further harnessed to help meet future demands in our global food system,” said Patrick O’Riordan, founder & CEO at BioBrew, ZX Ventures’ new business line trying to apply large-scale fermentation and downstream processing expertise beyond beer. “We look forward to exploring the development of highly-functional, animal-free egg proteins with Clara Foods in a scalable, sustainable and economically viable manner.”

Meanwhile, there’s a meeting of the minds happening in St. Louis where cereal giant Post is investing in Hungry Planet, a startup making meat a range of meat replacements.

Formed from the same Seventh Day Adventist focus on plant-based diet and health as a core of spirituality that launched the Kellogg’s cereal empire, Post has long been a rival to the corn flake king with its grape nuts cereal and other grain-based breakfast offerings.

Now the company has led a $25 million investment in Hungry Planet, which aims to provide meat-based replacements for crab cakes, lamb burgers, chicken, pork, and beef. Additional investors included the Singapore-based environmentally sustainable holding company, Trirec.

Alternative proteins are a big business. Last year, companies developing technologies and businesses to commercialize alternative sources of protein raised over $3 billion, according to the industry tracker, the Good Food Institute.

“Over the past year, the alternative protein industry has demonstrated not only resilience but acceleration, raising significantly more investment capital in 2020 than in prior years,” said GFI director of corporate engagement Caroline Bushnell, in a statement. “These capital infusions and the funding still to come will facilitate much-needed R&D and capacity building to enable these companies to scale and reach more consumers with delicious, affordable, and accessible alternative protein products.”

It’s all part of a push to provide more plant-based alternatives to animal proteins in a bid to halt planetary deforestation and reduce the greenhouse gas emissions associated with animal husbandry.

“Humanity needs solutions that match the scale and urgency of our problems,” said Elizondo. “

Satellite Vu’s $5M seed round will fuel the launch of its thermal imaging satellites

By Devin Coldewey

Earth imaging is an increasingly crowded space, but Satellite Vu is taking a different approach by focusing on infrared and heat emissions, which are crucial for industry and climate change monitoring. Fresh from TechCrunch’s Startup Battlefield, the company has raised a £3.6M ($5M) seed round and is on its way to launching its first satellite in 2022.

The nuts and bolts of Satellite Vu’s tech and master plan are described in our original profile of the company, but the gist is this: while companies like Planet have made near-real-time views of the Earth’s surface into a thriving business, other niches are relatively unexplored — like thermal imaging.

The heat coming off a building, geological feature, or even a crowd of people is an enormously interesting data point. It can tell you whether an office building or warehouse is in use or empty, and whether it’s heated or cooled, and how efficient that process is. It can find warmer or cooler areas that suggest underground water, power lines, or other heat-affecting objects. It could even make a fair guess at how many people attended a concert, or perhaps an inauguration. And of course it works at night.

An aerial image side by side with a thermal image of the same area.

You could verify, for instance, which parts of a power plant are active, when.

Pollution and other emissions are also easily spotted and tracked, making infrared observation of the planet an important part of any plan to monitor industry in the context of climate change. That’s what attracted Satellite Vu’s first big piece of cash, a grant from the U.K. government for £1.4M, part of a £500M infrastructure fund.

CEO and founder Anthony Baker said that they began construction of their first satellite with that money, “so we knew we got our sums right,” he said, then began the process of closing additional capital.

Seraphim Capital, a space-focused VC firm whose most relevant venture is probably synthetic aperture satellite startup Iceye, matched the grant funds, and with subsequent grant the total money raised is in excess of the $5M target (the extra is set aside in a convertible note).

“What attracted us to Satellite Vu is several things. We published some research about this last year: there are more than 180 companies with plans to launch smallsat constellations,” said Seraphim managing partner James Bruegger. But very few, they noted, were looking at the infrared or thermal space. “That intrigued us, because we always thought infrared had a lot of potential. And we already knew Anthony and Satellite Vu from having put them through our space accelerator in 2019.”

They’re going to need every penny. Though the satellites themselves are looking to be remarkably cheap, as satellites go — $14-15M all told — and only seven will be needed to provide global coverage, that still adds up to over $100M over the next couple years.

Simulated image of a Satellite Vu imaging satellite.

Image Credits: Satellite Vu

Seraphim isn’t daunted, however: “As a specialist space investor, we understand the value of patience,” said Bruegger. Satellite Vu, he added, is a “poster child” for their approach, which is to shuttle early stage companies through their accelerator and then support them to an exit.

It helps that Baker has lined up about as much potential income from interested customers as they’ll need to finance the whole thing, soup to nuts. “Commercial traction has improved since we last spoke,” said Baker, which was just before he presented at TechCrunch’s Disrupt 2020 Startup Battlefield:

The company now has 26 letters of intent and other leads that amount to, in his estimation, about a hundred million dollars worth of business — if he can provide the services they’re asking for, of course. To that end the company has been flying its future orbital cameras on ordinary planes and modifying the output to resemble what they expect from the satellite network.

Companies interested in the latter can buy into the former for now, and the transition to the “real” product should be relatively painless. It also helps create a pipeline on Satellite Vu’s side, so there’s no need for a test satellite and service.

An aerial image side by side with a thermal image of the same area.

Another example of the simulated satellite imagery – same camera as will be in orbit, but degraded to resemble shots from that far up.

“We call it pseudo-satellite data — it’s almost a minimum viable product.We work with the companies about the formats and stuff they need,” Baker said. “The next stage is, we’re planning on taking a whole city, like Glasgow, and mapping the whole city in thermal. We think there will be many parties interested in that.”

With investment, tentative income, and potential customers lining up, Satellite Vu seems poised to make a splash, though its operations and launches are small compared with those of Planet, Starlink, and very soon Amazon’s Kuiper. After the first launch, tentatively scheduled for 2022, Baker said the company would only need two more to put the remaining six satellites in orbit, three at a time on a rideshare launch vehicle.

Before that, though, we can expect further fundraising, perhaps as soon as a few months from now — after all, however thrifty the company is, tens of millions in cash will still be needed to get off the ground.

Ornikar raises $120M as its driving school marketplace goes up a gear with car insurance

By Ingrid Lunden

A French startup that set out to bring a new approach to driver education and road safety, and then used that foothold to expand into the related area of car insurance, is today announcing a big round of funding to continue building its service across Europe.

Ornikar, which prepares people for driving tests by providing online drivers education courses, lets those users organize in-person lessons with driving instructors, provides a booking system for taking their written and practical examinations, and finally provides them with competitive rates for getting car insurance as new drivers, has raised €100 million ($120 million).

The company intends to use the funding to expand its business. Drivers education services are live today in France and Spain, while insurance is offered today only in France: the plan will be to expand both of those to more markets.

The Series C is being led by KKR, with previous investors Idinvest, BPI, Elaia, Brighteye, and H14 also participating. Benjamin Gaignault, Ornikar’s CEO who co-founded the company with Flavien LeRendu (who also jointly holds the title of CEO), said the startup is not disclosing its valuation, but we understand from a source that it is around $750 million. The company has raised $175 million to date.

Ornikar has been around since 2013 and was founded, in Gaignault’s words, “to disrupt driving education.”

Coming into the market at a time when most of the process of organizing, learning and booking your driving education was not only very fragmented but completely offline, Ornikar’s internet-based offering represented a step change in how French people learned to drive: the process not only became easier, but on average about 40% cheaper to arrange.

Ornikar’s driving education business today includes not just online course materials and booking services, but a network of instructors across 1,000 towns and cities in France, and a business that launched last year in Spain, under the Onroad brand. Some 1.5 million people have taken Ornikar’s driving education courses to date, with another 2 million using its driving school, with growth accelerating: 420,000 new customers signed up with Ornikar in the last year alone.

Last year was a tricky one for companies in the business of transportation. People were generally staying put and not traveling anywhere, but when they were getting around, they wanted plenty of their own space to do so.

Translating that to markets like France and Spain where many towns will have solid public transportation and taxi services, people might have opted to use these less, looking instead to private vehicles in their place. And translating that to Ornikar, Gaignault said that people being at home more, and looking to use the time productively with a view to driving more in the future, the startup saw business growing by 30% each month last year.

Interestingly, it was in the middle of the pandemic that Ornikar launched its car insurance product, which came out of the same impetus as the driver education services: it was built to fill a hole in the market rethought with Ornikar’s users in mind.

Car insurance in France — a €17 billion ($20 billion) market annually — is dominated by big players, and when it comes to first-time drivers and looking for competitive rates, “the bigger companies are not comfortable with user experience,” said Gaignault. “It’s pretty poor and not aligned with expectations of the customers.”

The car insurance product — sold as Ornikar Assurance — is now on track to hit some 20,000 users by August (when it will have been in the market for a year).

While it accounts today for a small fraction of Ornikar’s revenues compared to its driver education platform, that take up — not just from alums of Ornikar’s drivers ed, but from those who had never used an Ornikar service before — is a good sign that it’s on to something big, Gaignault said.

“In October we noticed that 80% of our new insurance customers were not coming from Ornikar but from social media, Google ads and other outside sources,” he said. “That’s why we decided to create a new business unit and explore a business as an insuretech.”

But, he added, that will not be at the expense of the driving education: the two go hand in hand for a common goal of improving how people drive and improving road safety. Indeed, Gaignault said he envisions a time when one will feed into the other: not only will the driving school serve as a way of bringing in new insurance customers, but insurance rates can be impacted by how many driving courses a person takes to keep their knowledge of the driving code and best practices fresh.

“Ornikar has done a tremendous job creating a great experience for students and driving instructors through engaging online education courses and a well-designed marketplace,” said Patrick Devine, director at KKR and member of the Next Generation Technology Growth investment team. “We are thrilled to invest behind Benjamin, Flavien, and their talented team as they expand internationally and accelerate their insurance offering following the successful launches of Onroad in Spain and Ornikar Assurance.”

Lina Khan’s timely tech skepticism makes for a refreshingly friendly FTC confirmation hearing

By Devin Coldewey

One never knows how a confirmation hearing will go these days, especially one for a young outsider nominated to an important position despite challenging the status quo and big business. Lina Khan, just such a person up for the position of FTC Commissioner, had a surprisingly pleasant time of it during today’s Senate Commerce Committee confirmation hearing — possibly because her iconoclastic approach to antitrust makes for good politics these days.

Khan, an associate professor of law at Columbia, is best known in the tech community for her incisive essay “Amazon Antitrust’s Paradox,” which laid out the failings of regulatory doctrine that have allowed the retail giant to progressively dominate more and more markets. (She also recently contributed to a House report on tech policy.)

When it was published, in 2018, the feeling that Amazon had begun to abuse its position was, though commonplace in some circles, not really popular in the Capitol. But the growing sense that laissez-faire or insufficient regulations have created monsters in Amazon, Google, and Facebook (to start) has led to a rare bipartisan agreement that we must find some way, any way will do, of putting these upstart corporations back in their place.

This in turn led to a sense of shared purpose and camaraderie in the confirmation hearing, which was a triple header: Khan joined Bill Nelson, nominated to lead NASA, and Leslie Kiernan, who would join the Commerce Department as General Counsel, for a really nice little three-hour chat.

Khan is one of several in the Biden administration who signal a new approach to taking on Big Tech and other businesses that have gotten out of hand, and the questions posed to her by Senators from both sides of the aisle seemed genuine and got genuinely satisfactory answers from a confident Khan.

She deftly avoided a few attempts to bait her — including one involving Section 230; wrong Commission, Senator — and her answers primarily reaffirmed her professional opinion that the FTC should be better informed and more preemptive in its approach to regulating these secretive, powerful corporations.

Here are a few snippets representative of the questioning and indicative of her positions on a few major issues (answers lightly edited for clarity):

On the FTC getting involved in the fight between Google, Facebook, and news providers:

“Everything needs to be on the table. Obviously local journalism is in crisis, and i think the current COVID moment has really underscored the deep democratic emergency that is resulting when we don’t have reliable sources of local news.”

She also cited the increasing concentration of ad markets and the arbitrary nature of, for example, algorithm changes that can have wide-ranging effects on entire industries.

Lina Khan, commissioner of the Federal Trade Commission (FTC) nominee for U.S. President Joe Biden, speaks during a Senate Commerce, Science and Transportation Committee confirmation hearing in Washington, D.C.

Image Credits: Graeme Jennings/Washington Examiner/Bloomberg / Getty Images

On Clarence Thomas’s troubling suggestion that social media companies should be considered “common carriers”:

“I think it prompted a lot of interesting discussion,” she said, very diplomatically. “In the Amazon article, I identified two potential pathways forward when thinking about these dominant digital platforms. One is enforcing competition laws and ensuring that these markets are competitive.” (i.e. using antitrust rules)

“The other is, if we instead recognize that perhaps there are certain economies of scale, network externalities that will lead these markets to stay dominated by a very few number of companies, then we need to apply a different set of rules. We have a long legal tradition of thinking about what types of checks can be applied when there’s a lot of concentration and common carriage is one of those tools.”

“I should clarify that some of these firms are now integrated in so many markets that you may reach for a different set of tools depending on which specific market you’re looking at.”

 

(This was a very polite way of saying common carriage and existing antitrust rules are totally unsuitable for the job.)

On potentially reviewing past mergers the FTC approved:

“The resources of the commission have not really kept pace with the increasing size of the economy, as well as the increasing size and complexity of the deals the commission is reviewing.”

“There was an assumption that digital markets in particular are fast moving so we don’t need to be concerned about potential concentration in the markets, because any exercise of power will get disciplined by entry and new competition. Now of course we know that in the markets you actually have significant network externalities in ways that make them more sticky. In hindsight there’s a growing sense that those merger reviews were a missed opportunity.”

(Here Senator Blackburn (R-TN) in one of the few negative moments fretted about Khan’s “lack of experience in coming to that position” before asking about a spectrum plan — wrong Commission, Senator.)

On the difficulty of enforcing something like an order against Facebook:

“One of the challenges is the deep information asymmetry that exists between some of these firms and enforcers and regulators. I think it’s clear that in some instances the agencies have been a little slow to catch up to the underlying business realities and the empirical realities of how these markets work. So at the very least ensuring the agencies are doing everything they can to keep pace is gonna be important.”

“In social media we have these black box algorithms, proprietary algorithms that can sometimes make it difficult to know what’s really going on. The FTC needs to be using its information gathering capacities to mitigate some of these gaps.”

On extending protections for children and other vulnerable groups online:

Some of these dangers are heightened given some of the ways in which the pandemic has rendered families and children especially dependent on some of these [education] technologies. So I think we need to be especially vigilant here. The previous rules should be the floor, not the ceiling.


Overall there was little partisan bickering and a lot of feeling from both sides that Khan was, if not technically experienced at the job (not rare with a coveted position like FTC Commissioner), about as competent a nominee as anyone could ask for. Not only that but her highly considered and fairly assertive positions on matters of antitrust and competition could help put Amazon and Google, already in the regulatory doghouse, on the defensive for once.

As UiPath closes above its final private valuation, CFO Ashim Gupta discusses his company’s path to market

By Alex Wilhelm

After an upward revision, UiPath priced its IPO last night at $56 per share, a few dollars above its raised target range. The above-range price meant that the unicorn put more capital into its books through its public offering.

For a company in a market as competitive as robotic process automation (RPA), the funds are welcome. In fact, RPA has been top of mind for startups and established companies alike over the last year or so. In that time frame, enterprise stalwarts like SAP, Microsoft, IBM and ServiceNow have been buying smaller RPA startups and building their own, all in an effort to muscle into an increasingly lucrative market.

In June 2019, Gartner reported that RPA was the fastest-growing area in enterprise software, and while the growth has slowed down since, the sector is still attracting attention. UIPath, which Gartner found was the market leader, has been riding that wave, and today’s capital influx should help the company maintain its market position.

It’s worth noting that when the company had its last private funding round in February, it brought home $750 million at an impressive valuation of $35 billion. But as TechCrunch noted over the course of its pivot to the public markets, that round valued the company above its final IPO price. As a result, this week’s $56-per-share public offer wound up being something of a modest down-round IPO to UiPath’s final private valuation.

Then, a broader set of public traders got hold of its stock and bid its shares higher. The former unicorn’s shares closed their first day’s trading at precisely $69, above the per-share price at which the company closed its final private round.

So despite a somewhat circuitous route, UiPath closed its first day as a public company worth more than it was in its Series F round — when it sold 12,043,202 shares sold at $62.27576 apiece, per SEC filings. More simply, UiPath closed today worth more per-share than it was in February.

How you might value the company, whether you prefer a simple or fully-diluted share count, is somewhat immaterial at this juncture. UiPath had a good day.

While it’s hard to know what the company might do with the proceeds, chances are it will continue to try to expand its platform beyond pure RPA, which could become market-limited over time as companies look at other, more modern approaches to automation. By adding additional automation capabilities — organically or via acquisitions — the company can begin covering broader parts of its market.

TechCrunch spoke with UiPath CFO Ashim Gupta today, curious about the company’s choice of a traditional IPO, its general avoidance of adjusted metrics in its SEC filings, and the IPO market’s current temperature. The final question was on our minds, as some companies have pulled their public listings in the wake of a market described as “challenging”.

Why did UiPath not direct list after its huge February raise?

Apple and Google pressed in antitrust hearing on whether app stores share data with product development teams

By Sarah Perez

In today’s antitrust hearing in the U.S. Senate, Apple and Google representatives were questioned on whether they have a “strict firewall” or other internal policies in place that prevent them from leveraging the data from third-party businesses operating on their app stores to inform the development of their own competitive products. Apple, in particular, was called out for the practice of copying other apps by Senator Richard Blumenthal (D-CT), who said the practice had become so common that it earned a nickname with Apple’s developer community: “sherlocking.”

Sherlock, which has its own Wikipedia entry under software, comes from Apple’s search tool in the early 2000s called Sherlock. A third-party developer, Karelia Software, created an alternative tool called Watson. Following the success of Karelia’s product, Apple added Watson’s same functionality into its own search tool, and Watson was effectively put out of business. The nickname “Sherlock” later became shorthand for any time Apple copies an idea from a third-party developer that threatens to or even destroys their business.

Over the years, developers claimed Apple has “sherlocked” a number of apps, including Konfabulator (desktop widgets), iPodderX (podcast manager), Sandvox (app for building websites) and Growl (a notification system for Mac OS X) and, in more recent years, F.lux (blue light reduction tool for screens) Duet and Luna (apps that makes iPad a secondary display), as well as various screen-time-management tools. Now Tile claims Apple has also unfairly entered its market with AirTag.

During his questioning, Blumenthal asked Apple and Google’s representatives at the hearing — Kyle Andeer, Apple’s chief compliance officer and Wilson White, Google’s senior director of Public Policy & Government Relations, respectively — if they employed any sort of “firewall” in between their app stores and their business strategy.

Andeer somewhat dodged the question, saying, “Senator, if I understand the question correctly, we have separate teams that manage the App Store and that are engaged in product development strategy here at Apple.”

Blumenthal then clarified what he meant by “firewall.” He explained that it doesn’t mean whether or not there are separate teams in place, but whether there’s an internal prohibition on sharing data between the App Store and the people who run Apple’s other businesses.

Andeer then answered, “Senator, we have controls in place.”

He went on to note that over the past 12 years, Apple has only introduced “a handful of applications and services,” and in every instance, there are “dozens of alternatives” on the App Store. And, sometimes, the alternatives are more popular than Apple’s own product, he noted.

“We don’t copy. We don’t kill. What we do is offer up a new choice and a new innovation,” Andeer stated.

His argument may hold true when there are strong rivalries, like Spotify versus Apple Music, or Netflix versus Apple TV+, or Kindle versus Apple Books. But it’s harder to stretch it to areas where Apple makes smaller enhancements — like when Apple introduced Sidecar, a feature that allowed users to make their iPad a secondary display. Sidecar ended the need for a third-party app, after apps like Duet and Luna first proved the market.

Another example was when Apple built screen-time controls into its iOS software, but didn’t provide the makers of third-party screen-time apps with an API so consumers could use their preferred apps to configure Apple’s Screen Time settings via the third-party’s specialized interface or take advantage of other unique features.

Blumenthal said he interpreted Andeer’s response as to whether Apple has a “data firewall” as a “no.”

Posed the same question, Google’s representative, White, said his understanding was that Google had “data access controls in place that govern how data from our third-party services are used.”

Blumenthal pressed him to clarify if this was a “firewall,” meaning, he clarified again, “do you have a prohibition against access?”

“We have a prohibition against using our third-party services to compete directly with our first-party services,” White said, adding that Google has “internal policies that govern that.”

The senator said he would follow up on this matter with written questions, as his time expired.

Micromobility’s next big business is software, not vehicles

By Rebecca Bellan

The days of the shared, dockless micromobility model are numbered. That’s essentially the conclusion reached by Puneeth Meruva, an associate at Trucks Venture Capital who recently authored a detailed research brief on micromobility. Meruva is of the opinion that the standard for permit-capped, dockless scooter-sharing is not sustainable — the overhead is too costly, the returns too low — and that the industry could splinter.

Most companies playing to win have begun to vertically integrate their tech stacks by developing or acquiring new technology.

“Because shared services have started a cultural transition, people are more open to buying their own e-bike or e-scooter,” Meruva told TechCrunch. “Fundamentally because of how much city regulation is involved in each of these trips, it could reasonably become a transportation utility that is very useful for the end consumer, but it just hasn’t proven itself to be a profitable line of business.”

As dockless e-scooters, e-bikes and e-mopeds expand their footprint while consolidating under a few umbrella corporations, companies might develop or acquire the technology to streamline and reduce operational costs enough to achieve unit economics. One overlooked but massive factor in the micromobility space is the software that powers the vehicles — who owns it, if it’s made in-house and how well it integrates with the rest of the tech stack.

It’s the software that can determine if a company breaks out of the rideshare model into the sales or subscription model, or becomes subsidized by or absorbed into public transit, Meruva predicts.

Vehicle operating systems haven’t been top of mind for most companies in the short history of micromobility. The initial goal was making sure the hardware didn’t break down or burst into flames. When e-scooters came on the scene, they caused a ruckus. Riders without helmets zipped through city streets and many vehicles ended up in ditches or blocking sidewalk accessibility.

City officials were angry, to say the least, and branded dockless modes of transport a public nuisance. However, micromobility companies had to answer to their overeager investors — the ones who missed out on the Uber and Lyft craze and threw millions at electric mobility, hoping for swift returns. What was a Bird or a Lime to do? The only thing to do: Get back on that electric two-wheeler and start schmoozing cities.

How the fight for cities indirectly improved vehicle software

Shared, dockless operators are currently in a war of attrition, fighting to get the last remaining city permits. But as the industry seeks a business to government (B2G) model that morphs into what companies think cities want, some are inadvertently producing vehicles that will evolve beyond functional toys and into more viable transportation alternatives.

The second wave of micromobility was marked by newer companies like Superpedestrian and Voi Technology. They learned from past industry mistakes and developed business strategies that include building onboard operating systems in-house. The goal? More control over rider behavior and better compliance with city regulations.

Most companies playing to win have begun to vertically integrate their tech stacks by developing or acquiring new technology. Lime, Bird, Superpedestrian, Spin and Voi all design their own vehicles and write their own fleet management software or other operational tools. Lime writes its own firmware, which sits directly on top of the vehicle hardware primitives and helps control things like motor controllers, batteries and connected lights and locks.

This is your brain on Zoom

By Devin Coldewey

We all know these constant video calls are doing something to our brains. How else could we get tired and frazzled from sitting around in our own home all day? Well, now Microsoft has done a little brain science and found out that yeah, constant video calls do increase your stress and brain noise. Tell your boss!

The study had 14 people participate in eight half-hour video calls, divided into four a day — one day with 10-minute breaks between, and the other all in one block. The participants wore EEG caps: brain-monitoring gear that gives a general idea of types of activity in the old grey matter.

What they found is not particularly surprising, since we all have lived it for the last year (or more for already remote workers), but still important to show in testing. During the meeting block with no breaks, people showed higher levels of beta waves, which are associated with stress, anxiety and concentration. There were higher peaks and a higher average stress level, plus it increased slowly as time went on.

Taking 10-minute breaks kept stress readings lower on average and prevented them from rising. And they increased other measurements of positive engagement.

Graph showing how breaks keep stress low during video calls.

Image Credits: Microsoft/Valerio Pellegrini

It’s certainly validating even if it seems obvious. And while EEG readings aren’t the most exact measurement of stress, they’re fairly reliable and better than a retrospective self-evaluation along the lines of “How stressed were you after the second meeting on a scale of 1-5?” And of course it wouldn’t be safe to take your laptop into an MRI machine. So while this evidence is helpful, we should be careful not to exaggerate it, or forget that the stress takes place in a complex and sometimes inequitable work environment.

For instance: A recent study published by Stanford shows that “Zoom Fatigue,” as they call it (a mixed blessing for Zoom), is disproportionately suffered by women. More than twice as many women as men reported serious post-call exhaustion — perhaps because women’s meetings tend to run longer and they are less likely to take breaks between them. Add to that the increased focus on women’s appearance and it’s clear this is not a simple “no one likes video calls” situation.

Microsoft, naturally, has tech solutions to the problems in its Teams product, such as adding buffer time to make sure meetings don’t run right into each other, or the slightly weird “together mode” that puts everyone’s heads in a sort of lecture hall (the idea being it feels more natural).

Stanford has a few recommendations, such as giving yourself permission to do audio only for a while each day, position the camera far away and pace around (make sure you’re dressed), or just turn off the self-view.

Ultimately the solutions can’t be entirely individual, though — they need to be structural, and though we may be leaving the year of virtual meetings behind, there can be no doubt there will be more of them going forward. So employers and organizers need to be cognizant of these risks and create policies that mitigate them — don’t just add to employee responsibilities. If anyone asks, tell them science said so.

IKEA's Revamped AR App Lets You Design Entire Rooms

By Jeremy White, Wired UK
The furniture company is going beyond its Place app with IKEA Studio, a much-needed overhaul of its augmented reality offering.

Watch Today’s Apple Event Right Here

By Gear Team
The company is expected to unveil some new hardware Tuesday morning. Stream the big show with us.
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