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Southeast Asia health tech platform Speedoc raises $28M • ZebethMedia

Speedoc, a health tech platform that brings hospital care to homes, has raised $28 million in pre-Series B funding. The round included Bertelsmann Investments, Shinhan Venture Investment and Mars Growth. Returning investor Vertex Ventures Southeast Asia and India, which led Speedoc’s $5 million Series A in 2020, also participated. Based in Singapore, Speedoc was founded in 2017 by Dr. Shravan Verma and Serene Cai. Its services include telemedicine consultations, on-site doctor and nurse visits, virtual hospital wards and ambulance hailing. Speedoc is available in a total of nine cities, including eight in Malaysia. Dr. Verma told ZebethMedia that he became interested in creating an app for on-demand medical services while he was a doctor in an emergency department, and saw how many patients had to wait hours for minor conditions. Cai, meanwhile, wanted to create an easier way for people to get medical help, especially in underserved communities, while her family was caring for her grandmother, who had severe dementia. Speedoc is currently participating in the Ministry of Health Office for Healthcare Transformation’s Mobile Inpatient Care@Home initiative, and its hospital partners include National University Health System (NUHS), the Singapore General Hospital (SGH) and Khoo Teck Puat Hospital. As part of the program, Speedoc plans to expand its virtual hospital program, which includes a 24/7 patient care team. H-Ward is one of the main ways Speedoc differentiates from other telemedicine platforms, Dr. Verma said, because it standardizes services like telemedicine, remote monitoring and home-based doctors and nurses for continuous care. Patients are able to receive frequent medical reviews, 24/7 nursing, intravenous therapies, blood tests and in-person visits. “Research and survey findings have shown that given the same medical care and treatment, patients could recover faster at home,” Dr. Sherma said. “We have also been encouraged by our patients advocating for home-based care, and preferences to be admitted at home. Most importantly, on the impact on the healthcare landscape, the thrust towards virtual hospitals will ensure more optimal utilization rates, and more capacity for medical personnel to attend to life-threatening conditions.” Speedoc will use its new funding to expand in Southeast Asia, especially in cities where there is a shortage of healthcare professionals. In a statement about the funding, Shinhan Venture Investment (Global Investment) director Jinsoo Lee said, “Healthcare provision and delivery in Southeast Asia is poised for tremendous change in the next decade. We believe the healthcare model Speedoc champions will see greater adoption in meeting the healthcare gap in the region.”

Former Tink employees launch Atlar, a payment automation startup • ZebethMedia

Stockholm-based startup Atlar raised a $5 million (€5 million) seed round led by Index Ventures. The company has been working on an application programming interface (API) that facilitates bank-to-bank payments for European businesses. In addtion to Index Ventures, La Famiglia VC, Cocoa and various business angels also participated in the round, such as Revolut CFO Mikko Salovaara, former EVP of global sales at Adyen Thijn Lamers and N26 CFO Jan Kemper. While European consumers are already quite familiar with open banking and payment initiation, a lot of B2B transfers are still processed manually. Business banking hasn’t experienced the same level of innovation when it comes to payments. And yet, corporate banks already offer ways to initiate payments without having to connect to a web portal and upload a spreadsheet. But banks don’t necessarily run modern REST APIs. They expect a text file formatted in a very specific way on an SFTP server. If you have a development team, they could build a custom integration. But many companies simply don’t have the resources to maintain these connections. They would rather pay a partner to handle all the technical details. Atlar provides a modern API that hides all the complexities involved with bank connections. Once a company uses Atlar, it can trigger transfers, reconcile transactions and process direct debits through Atlar’s API directly. In particular, Atlar can be used for payouts, insurance premiums, deposits and loan payouts. Companies that operate across multiple European countries likely have multiple bank accounts. That’s why automating payments could be a nice upgrade for those businesses. “Accepting payments as a business is pretty painless now, but initiating them with your bank is still agonisingly slow and manual,” Atlar co-founder and CEO Joel Nordström said in a statement. “This is why Atlar is on a journey to becoming the operating system for bank-based payments. By creating a new category, we hope to unleash a wave of innovation for our clients which will ultimately benefit European consumers and businesses.” In addition to Joel Nordström, Joel Wägmark and Johannes Elgh are the two other co-founders. They were all working at Tink, the open banking company that was acquired by Visa for $2.2 billion. Atlar competes with Numeral, a French startup that I covered earlier this year. So far, Atlar focuses on the Nordics, Germany, Austria and Switzerland. And today’s funding round will be helpful when it comes to European expansion.

the market is changing; YC’s terms are not • ZebethMedia

Last week at Web Summit, we were asked to interview outgoing Y Combinator President Geoff Ralston about the past, present, and future of the popular accelerator program. We covered a lot of ground during our 20-minute-long chat, including why Ralston — long a partner at YC —  decided to leave after assuming the role of president just three years ago (Garry Tan assumes the role in January). We also discussed where YC’s investing capital comes from and whether, given the market slowdown, YC will be changing its terms to reflect that slowdown. Here is much of that conversation, edited lightly for length and clarity. You can watch the longer conversation here, or just listen in. TC: Let’s start with the news [that] you are leaving Y Combinator. You were there for three years. It was a little bit of a surprise [that you are stepping away]. Why now? GR: I actually count my tenure at YC from just after 2006, when I left Yahoo [and]  started hanging out with Paul [Graham] and company, so really, almost 16 years. And I’ve been an employee at YC since 2011. So it’s been over a decade. And, you know, I felt inside me an urgency that it was time for a change. And I think you have to do that justice, when you feel that, even though I love YC. I love what I do. I think it’s important work. I think it matters. We’re very mission driven. We think entrepreneurship is important and makes a real positive difference in the world. And I love working with founders. It’s weird. I love it. But it was just time to do something different. So I’m moving on. TC: YC went from cohorts of 12 or 18 to roughly 400 founders last winter, before downsizing a bit. Tell me about this idea that launching startups is infinitely scalable. GR: I’ve made what some people consider outlandish claims for how many companies we could possibly fund. It’s never been infinite. It scales a lot. There is extraordinary opportunity for entrepreneurship and for founders to find success across the United States and across the world, in every demographic. In the beginning, we were just scratching the surface. One of the things that I think YC did that was really special was to democratize the idea of entrepreneurship, to open it up to different folks. Originally, the idea was to open it up to technologists, to hackers. That was really an opening of entrepreneurship to folks who really didn’t quite have the access. And we’ve continued that to this day. For that reason our batches have continued to grow. It’s supply and demand. There’s a demand for entrepreneurship. TC: Sam Altman, your predecessor as president, once said there are five ways that YC really innovated, including letting anybody in the world apply to the program, whereas with VCs, you had to get a warm introduction. GR: Yeah, totally, and to be fair, PG, Paul Graham, the founder of YC, started opening up the ideas behind entrepreneurship with his essays, which I’m sure a number of people in the audience have read. They were really a turning point for how people thought about entrepreneurship I honestly don’t know at this point how YC is really structured. You have the Continuity Fund [for later-stage investments]. Where is the money [for these new cohorts] coming from? Is YC a holding company where investors have stakes in a holding company? Or does it raise funds very, very quietly? We raise funds, and we do it rather quietly. It’s sort of our internal sausage making, and it’s not so relevant to talk. We’ve evolved over time. Originally, YC was funded exclusively by Paul and company. And later on, we took on, from a funding perspective, the nature of most VCs, where we have limited partners from whom we raise money on a relatively regular basis. And we have a number of funds in which those LPs place their money. We look like a standard VC from that perspective. Are these evergreen funds?  They’re not. I’m guessing that a lot of alums are also welcome to invest? Virtuous cycle and all? Yeah. I would like to point out that one of the innovations that Sam probably talked about when you talked about these five innovations was that we think of the folks who go through Y Combinator as our alumni and we’ve created this community of founders. If that tight community can actually reinvest the success they found back into YC, it ties us all more tightly together. With regard to that community, I’ve always wondered if there is a breaking point. I know a founder will roll out a product and a lot of YC alums will happily test it out or buy it, for example. But when you’re dealing with thousands of teams as you are at this point, I wonder how you keep your alums from getting overwhelmed. The best answer to that is we have really good software. We actually consider ourselves, more than anything else, a software platform. We’ve all been software engineers. Paul has a PhD in computer science. Sam was a software engineer. I’m a software engineer. My successor, Garry Tan, is a software engineer. So we take a software attitude toward scaling and toward creating tools that bring our companies and our founders together. In fact, Garry built the community software originally that we still use at YC. You did pare back your class size more recently. It’s a new world, right? It changed in two fundamental ways, which caused us to retrench a little bit on our batch size. One is that the pandemic sort of is coming to an end, and we’re much more in person, and it’s harder to scale in person than purely virtual, which we were from March 2020 until the winter of 2022. The second thing is the economy is doing somewhat different things than in 2021, so it’s

Say ‘fromage’! French startup PhotoRoom captures $19M Series A • ZebethMedia

To get a roundup of ZebethMedia’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Hello, dear crunchers! We hope you’ve had a peaceful weekend and that you were able to stay clear of social media for a few days. LOL Who are we kidding? We’ve all been glued to the slow-moving, painful, Elon-catalyzed bird crash over at Twitter. Now, if only Mastodon would call its posts something other than “toots,” we might be able to get behind those. In the meantime, come say hello to us on Mastodon! Much love from Christine (@ChristineHall@mastodon.social) and Haje (@Haje@mastodon.social). And, given that those social handles don’t exactly roll off the tongue, we’ll probably go back to linking to our Twitter accounts tomorrow. We are nothing if not creatures of habit, after all. The ZebethMedia Top 3 Get ready for your close-up: PhotoRoom, a photo-editing app for e-commerce sellers that enables users to remove the background behind objects, has attracted 40 million app downloads and now raised $19 million, Romain reports. Twitter wants you back: If you were recently laid off from Twitter, would you return? Ivan writes that after laying off half of its staff, the social media giant is reportedly compiling a list of people who could be asked to come back. Better read the fine print on that rehiring contract. Putting the “super” in super app: Organizing all the facets of your life in one app seems to be quite popular, and Yassir is proof of that. The Africa-based super app, offering ride-hailing, food and grocery delivery and payments, grabbed $150 million. Tage has more. Startups and VC Evidently, the downturn hasn’t soured investors on the travel industry. Travel booking startup Hopper today announced that it closed a $96 million follow-on investment from Capital One, bringing the company’s total raised to close to $730 million, Kyle reports. The fresh cash will be put toward several efforts, CEO and co-founder Frederic Lalonde said in a press release, including supporting Hopper’s new social commerce initiatives. Want to start a DAO? It’s not that hard. Want to join a DAO? It’s even easier, but there are several steps to get connected. Some of those steps are daunting. Matt is here to help, and he’s invited Alex Taub and one of his investors to learn more about how starting and onboarding for a DAO is about to become a lot easier, at least if they have something to do with it. Tune in to our next episode of ZebethMedia Live on Wednesday to hear from Alex and investor Karin Klein from Bloomberg Beta. A smattering more: Dear Sophie: How can I stay in the US if I’ve been laid off? Image Credits: Bryce Durbin/ZebethMedia Dear Sophie, I was laid off and I’m on an H-1B. I have enough savings to survive for a while. What should I do if I have been let go from my job? I am on an H-1B, have an approved I-140, and an I-797 that expires in March 2024. If I have to leave the U.S., can my current I-797 be transferred to my next employer? Are there any issues I should be aware of? — Upended & Unemployed Three more from the TC+ team: ZebethMedia+ is our membership program that helps founders and startup teams get ahead of the pack. You can sign up here. Use code “DC” for a 15% discount on an annual subscription! Big Tech Inc. Romain has your look at the Devialet Mania, a $790 high-end portable speaker. And he actually uses the term “portable” lightly because it weighs five pounds, so more like a speaker you can pick up and change rooms with, not one you carry around in a backpack. Business marriage is in the air, with Ouster and Velodyne agreeing to merge. Rebecca writes that this move “signals consolidation in the lidar industry” and also describes the background and what led up to this. Ready for five more? That’s a lot of cryptocurrency: The U.S. Department of Justice said it seized $3.36 billion in cryptocurrency from James Zhong, who Jacquelyn reports is accused of unlawfully obtaining that large chunk from the dark web. Game on: Paul updates us on the completion of the $4.4 billion merger of Unity and ironSource. Together, the companies are building a platform for the development and monetization of games. Flocking to something new: Boosted by all the Twitter drama over the past week, people have been on the lookout for another place to enjoy social media. Mastodon has been one of the benefactors, reaching 1 million active monthly users, Kyle reports. All the prices that are fit to post: Airbnb is tweaking its search so that it will soon show prices inclusive of all fees in search results, Ivan writes. Say farewell: Over the weekend, Lauren had a story about HBO canceling “Westworld.”

Harmonic helps investors query the startup searches of their wildest dreams • ZebethMedia

Siri, show me fintech companies, founded in the last two years, that haven’t raised over the past year but have grown headcount by 100% in the same time frame; and can it be founded by Stanford alumni whose Twitter traction has grown by at least 50% in the last six months? This is Harmonic’s vision; well, only if you swap out Siri for Harmonic’s text-based startup search query tool. The data platform, built by co-founders Bryan Casey and Max Ruderman, thinks it can help executives discover the next big startups without hundreds of hours of manual sourcing and research. Harmonic is a more specific version of its largest competitors, Crunchbase and Pitchbook, which aggregate and organize private startup data. “We go out and look at every nook and cranny of the web where there might be information about companies and we take that structured and unstructured data and figure out how to merge it all together into some canonical representation of a company,” Ruderman told ZebethMedia. Harmonic’s aggregation differentiation, per Ruderman, is the intelligence it uses to help recognize which public data is more accurate for certain feels, and then merge those sources to develop the “most accurate, fresh representation at any point in time.” Harmonic joins a flock of other startups trying to make venture more data-driven, transparent and equitable. In theory, algorithmic investing hedges against investors’ preconceived notions and pushes emotions to the side. Fintech unicorn Clearco and venture firm SignalFire have spent years implementing data-focused investment processes, joined by AngelList and Hum Capital. In a landscape where investors are re-learning discipline, data feels safe. But, as other solutions have matured, the cleanliness and reliability of said data has come into question. (One founder even played a prank once, listing that Andreessen Horowitz was an investor in his startup on Crunchbase; when other investors piled on looking to put money into his upstart, he explained it was a joke to show the poor quality of data on the platform, reports Bloomberg). Ruderman admitted that data reliability and consistency is one of the hardest problems to get right – and that their strategy is a big differentiator for them. “We’re able to keep data up-to-date at scale, and merge together fragmented bits of structured and unstructured data from all over the web with confidence,” Ruderman said, adding that its main measure of success is an internal score they use that captures freshness, inventory and taxonomy. When asked for more specifics on how they gain an upper edge on freshness, Ruderman didn’t share many specifics (and given that it’s a competitive moat, I’m not too surprised by this). He also said that pricing will evolve as the product evolves, but currently the startup charges licensing and API usage fees. Ruderman’s background adds some color to why he is confident in a better way to search. The co-founder was at Google for around 6 and a half years – with his last role being a senior software engineer on a team in Search that was all about building tools to help Google do UX research and design at scale. Before that, he spent time learning about behavioral economics in the people operations department, technical infrastructure on the business intelligence team, machine learning on the finance team, and ultimately Search. So far, his direction and the company behind him has landed Harmonic at least 150 customers, including SaaS startups such as Brex, Vouch, Notion and Carta, and venture firms such as Floodgate, A16z and Accel. Some of those early adopters have even turned into the startup’s largest investors. Harmonic announced today that it closed a $20 million Series A round led by Sozo Ventures, with participation from Craft Ventures, which led its $10 million seed round last year. Floodgate, another customer, was Harmonic’s first investor ever. “By creating a really powerful discovery tool in venture, it lets capital flow out to more innovation in a more efficient way…if we bring this to sales teams, it lets teams bring their service and push forward at the right time,” Ruderman said. “And then eventually, we want to make it the case that talent can find startups to match their talents, driving startups forward.”

Truveta’s big data healthcare project is pretty cool • ZebethMedia

A few weeks back, ZebethMedia caught up with Terry Myerson and others from the Truveta team to chat through an important product update from the company. This publication has covered Truveta for some time now, curious about its objectives as a business that has a strong public-health component, and because Myerson was a longtime Microsoft denizen that we were familiar with from covering Windows for years and years. Our interest was also piqued late last year when Truveta raised $100 million, slightly more than doubling its capital base. With around $200 million in backing, Truveta had a roster of folks with whom we were familiar, and enough cash to bring to bear whatever it was dreaming up. The Truveta concept is simple: Work with different healthcare groups to collect anonymized patient data, pool the information, and make it available to third parties so that they can see what’s actually going on in terms of patient outcomes in a more holistic sense. The potential public health and commercial applications are reasonably apparent, but what struck your scribe when chatting with Myerson and the team was that this sort of aggregated database of depersonalized information was not already in existence. While having a private-public healthcare system has some advantages, centralized data is seemingly not one of them. Back to the recent: Truveta has expanded the roster of health systems contributing to its dataset from a handful toward the end of 2021 to 25 today. More data is good when it comes to this sort of “healthcare analytics” work, so the additional 11 providers matter. But more notably, Truveta’s software product launched earlier this month. Back in 2021, the company made a bit of a splash when it rolled out a COVID-focused product. Now, Truveta Studio is out, and I got a tour. Something that Truveta has to handle is harmonizing information from disparate systems. This is something it’s tackling, allowing users to set up definitions in a computable format, and then collect results and graph them. The resulting wall of charts and graphs is exciting to look at if you, like myself, are a huge dork for data visualization. The service is not something, from my run-through of it, that anyone with a passing interest in healthcare outcomes could use. But for an expert, it could pay off — our tour guide explained that, in his prior research environment, he would spend weeks executing what he can do in minutes with Truveta. That’s more than an order of magnitude of time savings. Provided that the service is sufficiently user-friendly for professionals, the company could be onto something. The question now is how much people — customers — want to use it. Truveta’s early goals — getting its data ingestion set up, raising money, building a team, and then a product for regular use — have been met. Now we are down to the business brass-tacks of the effort. And there are nine figures of capital wagered that it will succeed. Given that healthcare in the United States is exorbitantly expensive, opaque, and full of inequitable outcomes, folks working to make it a bit less impossible to parse are fine by me.

How can I stay in the US if I’ve been laid off? • ZebethMedia

Sophie Alcorn Contributor Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” She connects people with the businesses and opportunities that expand their lives. More posts by this contributor Dear Sophie: How can students work or launch a startup while maintaining their immigration status? Dear Sophie: How can early-stage startups improve their chances of getting H-1Bs? Here’s another edition of “Dear Sophie,” the advice column that answers immigration-related questions about working at technology companies. “Your questions are vital to the spread of knowledge that allows people all over the world to rise above borders and pursue their dreams,” says Sophie Alcorn, a Silicon Valley immigration attorney. “Whether you’re in people ops, a founder or seeking a job in Silicon Valley, I would love to answer your questions in my next column.” ZebethMedia+ members receive access to weekly “Dear Sophie” columns; use promo code ALCORN to purchase a one- or two-year subscription for 50% off. Dear Sophie, I was laid off and I’m on an H-1B. I have enough savings to survive for a while. What should I do if I have been let go from my job? I am on an H-1B, have an approved I-140, and an I-797 that expires in March 2024. If I have to leave the U.S., can my current I-797 be transferred to my next employer? Are there any issues I should be aware of? — Upended & Unemployed Dear Upended, I’m so sorry to hear you’ve been laid off, and the stress this has no doubt added to your life! Your questions are top of mind in light of the thousands of others being laid off from Twitter, Facebook, Stripe, Brex, Lyft, and other tech companies. I realize this can be an incredibly stressful time. It is my personal life mission to help immigrants to have peace of mind, including being able to stay in the United States, keep their families safe, and build their dreams of making the world a better place. I am so happy to have the opportunity to share my advice through this column! The good news is U.S. Citizenship and Immigration Services (USCIS) allows a 60-day grace period to remain in the U.S. if you lose your job while on an E-1, E-2, E-3, H-1B, H-1B1, L-1, O-1, or TN visa. And we can turn your 60-day grace period into a total of eight months of immigration runway — it is possible to extend your time in the U.S. beyond 60 days by filing a change of status from H-1B to another category such as a visitor, student, or dependent spouse. When individuals who need visa sponsorship get laid off, we often hear their highest priority is to maintain their ability to stay in the United States beyond the 60-day grace period, especially if they own a home, have a spouse, or have dependent kids in school. Often people ask me what they need to do if they can’t get a job that offers visa sponsorship within the 60-day grace period or how they can finally follow their heart to explore their own startup ideas. Here are my recommendations for how to stay in the United States, as well as options and opportunities you should keep in mind. To work for another company, start interviewing NOW! Unfortunately, you cannot transfer your current I-797 to your next employer. However, you can transfer your H-1B to your new employer following the H-1B application process. If you are approved, you will receive a new I-797. Put all of your efforts into finding another job. Get as many interviews as you can. Reach out to everyone in your network — friends, family, former colleagues, co-workers, neighbors, and acquaintances. Take advantage of social media and attend networking events. Also, take a look at where venture capital is flowing these days; companies that are receiving Series A funding or above are likely hiring. At a job interview, be direct about your need to transfer your H-1B to a new employer. If the company is not willing to sponsor you, move on. Ideally, you should accept a job offer no more than 45 days into your 60-day grace period unless you have applied for another fallback status because it can take several weeks to prepare and file the H-1B transfer. Additionally, if you qualify for an O-1A extraordinary ability visa, you could consider using an agent to file an O-1A petition on your behalf, which would make your visa independent of any particular employer. This offers you both redundancy because you can change or add paid jobs in the United States without amending the petition every time, generally, as long as you are continuing to work in your field. To work for your own startup, start NOW! If you want to create your own tech venture, find someone you can work with to be your co-founder. Find out if you qualify for an O-1A ASAP or determine if you want to set up your startup to be compatible with an H-1B transfer. Talk with both an immigration attorney and a corporate attorney to devise the best structure for your startup and determine an immigration strategy for your startup to sponsor you for a visa. For many people, if they qualify, I suggest that your startup sponsor you for an O-1A, which offers more flexibility and freedom than an H-1B transfer. Many individuals on an H-1B visa in Silicon Valley and beyond are surprised when we tell them they already qualify for an O-1A. The added benefit of the O-1A is that it serves as a stepping stone to qualify for the EB-1A extraordinary ability green card, which is currently available. Devise a backup plan Have a backup plan and work with an immigration attorney to assess your options. You could transfer your H-1B, become an H-4 dependent visa holder if your spouse has an H-1B,

Travel app Hopper raises $96M from Capital One to double down on social commerce • ZebethMedia

Evidently, the downturn hasn’t soured investors on the travel industry. Travel booking startup Hopper today announced that it closed a $96 million follow-on investment from Capital One, bringing the company’s total raised to close to $730 million. The fresh cash will be put toward several efforts, CEO and co-founder Frederic Lalonde said in a press release, including supporting Hopper’s new social commerce initiatives. As a part of the funding, Hopper says it’s extending its partnership with Capital One to create new travel products aimed at Capital One customers. Hopper’s tech already powers Capital One Travel and Premier Collection, Capital One’s marketplace of hotels and resorts exclusive to Capital One Venture X cardholders. It’s a safe bet that similar experiences along that vein are forthcoming. “With Hopper, we have found a partner who can not only match that pace, but help us continue to challenge the status quo and take a differentiated approach to building a world-class travel brand,” Capital One managing VP Matt Knise said in statement. “Through this strategic partnership, we’re well-positioned to adapt to a rapidly changing travel environment and create industry-leading solutions for our customers along their travel journey.” Founded by Frederic Lalonde and Joost Ouwerkerk in 2007, Hopper spent six years in stealth building what it claimed at the time was the “world’s largest structured database of travel information.” The company’s web-crawling tech ingested blogs, photo-sharing sites and other sources of information about locales and tagged them to a geolocation in a massive place database. But after Hopper’s public debut in 2014, the company’s leadership decided to pivot to mobile and devote engineering resources to flight prediction, building a tool that continuously monitors airline prices and sends price change alerts via push notification. Since the, Hopper has evolved into one of the largest travel apps in North America, with over 80 million downloads and sales of flights, hotels, homes and rental cars on the platform set to exceed $4.5 billion this year. Hopper differentiates itself from rival travel services (e.g. Travelocity) with features such as airfare price freezes and flight disruption guarantees, the former of which the company says represents about 40% of its total app revenue. Last year, Hopper ventured into the business-to-business market with the launch of Hopper Cloud, a partnership program that allows travel providers including Kayak, Marriott and Trip.com to resell Hopper’s fintech and travel agency products through a white-label portal. Hopper claims that Cloud has seen a rapid uptake, now comprising more than 40% of Hopper’s business; Lalonde claims that Hopper Cloud is on track to make more in 2022 than all of Hopper did in last year. On the consumer side, this spring, Hopper shifted its focus to in-app promotions, discounts and sales events. Social commerce is the company’s next big push, anchored by features like referrals, share-to-earn, team buying and daily gift, which reward users for with discounts on travel purchases for launching the app and engaging in sharing with friends. Hopper was last valued at $5 billion, ZebethMedia reported in early February. The company — which has an estimated 11.2% of the third-party air travel market in the U.S. — plans to eventually go public.

Carbon Re spins out of academia-land to take on cement pollution • ZebethMedia

Spinning out of top U.K. universities Cambridge University and UCL, Carbon Re just raised £4.2 million ($4.8 million) in a bid to tackle the gigatonnes of carbon emissions spewing forth from the traditional thorn-in-climate-change-side cement industry. The company says it is building state-of-the-art AI to decarbonize energy-intensive industries. It claims that its “Delta Zero AI” platform could potentially reduce more than 50 kilotonnes of CO2 emissions per plant. The company tells me that its SaaS solution “models the unique production environment of each plant and uses advanced machine learning and AI techniques to achieve previously out-of-reach operational efficiencies.” Delta Zero continuously analyzes manufacturing data to enable plant operators to optimize production processes on a near-live basis, although it doesn’t specifically describe what changes the algorithms suggest in order to achieve these cuts in emissions. “At a time of escalating fuel prices and increasing emphasis on CO2 reduction targets, there is an urgent need for action. Carbon Re is connecting the biggest challenge of our time – climate change – with the biggest opportunity – advances in AI,” said Sherif Elsayed-Ali, CEO of Carbon Re, in a statement to ZebethMedia. “Our platform provides a unique solution for energy-intensive industries that delivers £2 million in fuel cost savings and 50,000 tonnes of CO2 savings per plant. This latest funding round will enable us to accelerate our mission to reduce carbon emissions by gigatonnes every year.” Planet A Ventures, a Berlin-based climate tech venture capital firm, led the £4.2 million round, with participation from Clean Growth Fund, UCL Technology Fund and Cambridge Enterprise. The new investment will enable Carbon Re to focus on rolling out its product to the global cement market. The next target the company has set itself is to expand into other energy-intensive industries, such as steel and glass.

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