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Protein programmers get a helping hand from Cradle’s generative AI • ZebethMedia

By zebethcontrolPosted on Posted in Biotech & Health, cradle, Generative AI, machine learning, proteomics, Robotics & AI, StartupsNo Comments on Protein programmers get a helping hand from Cradle’s generative AI • ZebethMedia

Proteins are the molecules that get work done in nature, and there’s a whole industry emerging around successfully modifying and manufacturing them for various uses. But doing so is time consuming and haphazard; Cradle aims to change that with an AI-powered tool that tells scientists what new structures and sequences will make a protein do what they want it to. The company emerged from stealth today with a substantial seed round. AI and proteins have been in the news lately, but largely because of the efforts of research outfits like DeepMind and Baker Lab. Their machine learning models take in easily collected RNA sequence data and predict the structure a protein will take — a step that used to take weeks and expensive special equipment. But as incredible as that capability is in some domains, it’s just the starting point for others. Modifying a protein to be more stable or bind to a certain other molecule involves much more than just understanding its general shape and size. “If you’re a protein engineer, and you want to design a certain property or function into a protein, just knowing what it looks like doesn’t help you. It’s like, if you have a picture of a bridge, that doesn’t tell you whether it’ll fall down or not,” explained Cradle CEO and co-founder Stef van Grieken. “Alphafold takes a sequence and predicts what the protein will look like,” he continued. “We’re the generative brother of that: you pick the properties you want to engineer, and the model will generate sequences you can test in your laboratory.” Predicting what proteins — especially ones new to science — will do in situ is a difficult task for lots of reasons, but in the context of machine learning the biggest issue is that there isn’t enough data available. So Cradle originated much of its own data set in a wet lab, testing protein after protein and seeing what changes in their sequences seemed to lead to which effects. Interestingly the model itself is not biotech-specific exactly but a derivative of the same “large language models” that have produced text production engines like GPT-3. Van Grieken noted that these models are not limited strictly to language in how they understand and predict data, an interesting “generalization” characteristic that researchers are still exploring. Examples of the Cradle UI in action. The protein sequences Cradle ingests and predicts are not in any language we know, of course, but they are relatively straightforward linear sequences of text that have associated meanings. “It’s like an alien programming language,” van Grieken said. Protein engineers aren’t helpless, of course, but their work necessarily involves a lot of guessing. One may know for sure that among the 100 sequences they are modifying is the combination that will produce The model works in three basic layers, he explained. First it assesses whether a given sequence is “natural,” i.e. whether it is a meaningful sequence of amino acids or just random ones. This is akin to a language model just being able to say with 99 percent confidence that a sentence is in English (or Swedish, in van Grieken’s example), and the words are in the correct order. This it knows from “reading” millions of such sequences determined by lab analysis. Next it looks at the actual or potential meaning in the protein’s alien language. “Imagine we give you a sequence, and this is the temperature at which this sequence will fall apart,” he said. “If you do that for a lot of sequences, you can say not just, ‘this looks natural,’ but ‘this looks like 26 degrees Celsius.’ that helps the model figure out what regions of the protein to focus on.” The model can then suggest sequences to slot in — educated guesses, essentially, but a stronger starting point than scratch. And the engineer or lab can then try them and bring that data back to the Cradle platform, where it can be re-ingested and used to fine tune the model for the situation. The Cradle team on a nice day at their HQ (van Grieken is center). Modifying proteins for various purposes is useful across biotech, from drug design to biomanufacturing, and the path from vanilla molecule to customized, effective and efficient molecule can be long and expensive. Any way to shorten it will likely be welcomed by, at the very least, the lab techs who have to run hundreds of experiments just to get one good result. Cradle has been operating in stealth, and now is emerging having raised $5.5 million in a seed round co-led by Index Ventures and Kindred Capital, with participation from angels John Zimmer, Feike Sijbesma, and Emily Leproust. Van Grieken said the funding would allow the team to scale up data collection — the more the better when it comes to machine learning — and work on the product to make it “more self-service.” “Our goal is to reduce the cost and time of getting a bio-based product to market by an order of magnitude,” said van Grieken in the press release, “so that anyone – even ‘two kids in their garage’ – can bring a bio-based product to market.”

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Amazon starts delivering layoff notices to thousands of employees • ZebethMedia

By zebethcontrolPosted on Posted in Daily Crunch, Startups, Venture, venture capitalNo Comments on Amazon starts delivering layoff notices to thousands of employees • 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, and welcome to your…checks the top right of the screen…Wednesday. Several of our ZebethMedia colleagues headed to Miami today for the TC Sessions: Crypto event tomorrow. Given the past week, it will no doubt be an interesting event. There’s still time to get tickets. Now, let’s get to some news! — Christine The ZebethMedia Top 3 Even Amazon is not immune: Instead of “no shave November,” we need a “no layoff November.” Who’s with me? Brian writes that following rumors of layoffs, Amazon started making them this week. He also has information from the company’s hardware head, who was able to provide further details. Productivity nerds, assemble!: SigmaOS raised $4 million to develop a Mac browser where you can put your tabs in groups on the left side of the screen, Ivan writes. Ultimatums never work, right?: I guess we’ll see. In Elon Musk’s case, he reportedly sent a late-night email to Twitter workers posing sort of an “Eat Me,” “Drink Me” situation related to their future employment at the social media giant, Amanda writes. One makes you larger and one makes you smaller, but it’s not clear which is the right choice. See also Alex’s story in the TC+ section. Startups and VC Venture capital firms continue to close new funds as they decide their next moves. I wrote about Fiat Ventures, which has a new $25 million fund focused on fintechs, while Connie has details about Bling Capital’s $212 million that will be essentially split between seed-stage and follow-on opportunities and two coasts. And now here’s four more for you: How to turn user data into your next pitch deck Image Credits: James Neil (opens in a new window) / Getty Images Investors might enjoy listening to a well-rehearsed founder’s story, but sharing the right customer data “can definitively power up a pitch deck,” says David Smith, VP of data and analytics at TheVentureCity. “Investors need to see that you’re not being blindsided by easy wins that can go up in smoke within weeks, but are using hard data to build a sustainable company that will endure, and thrive, with time.” 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. Having been married for 20 years, I’ve completely avoided the whole online dating scene, but I have heard from friends that it’s tough out there. Most people are looking for commitment, but hey it’s 2022, and not everyone is ready for that. Hinge, which touts itself as “the dating app designed to be deleted,” recognizes this and has added a new feature that makes it easier for those seeking non-monogamous relationships. Lauren has more. It is indeed the end of an era: Evernote, the note-taking and task management app, has agreed to be acquired by Bending Spoons, a company you probably just opened up a new tab to do a Google search on. Kyle has the details. And we have four more for you:

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Service 1st Financial sells “home comfort-as-a-service,” gets $20 million in funding from Series B, debt • ZebethMedia

By zebethcontrolPosted on Posted in Climate, EC Food Climate and Sustainability, heat pumps, hvac, leasing, StartupsNo Comments on Service 1st Financial sells “home comfort-as-a-service,” gets $20 million in funding from Series B, debt • ZebethMedia

Let’s face it, most people aren’t early adopters, especially when it comes to their homes. Take the kitchen, for example, where many people still buy gas cooktops despite induction’s superiority. It’s not because everyone’s busy charring peppers over an open flame — it’s because they’re slow to adopt changes. When it comes to heating and cooling, that’s a problem for the climate. Together, they account for about half of all energy use in U.S. homes. Heating is a particular challenge since only 40% of homes use electricity; the rest burn natural gas, propane, or some other fossil fuel. When the old furnace is dying, its replacement is usually more of the same. To reduce reliance on fossil fuels, switching to electric heat pumps is going to be key. “If your trusted contractor — who you call to come into your home to help figure out what to do with your system — doesn’t offer a heat pump, you’re just not going to buy one, right?” Anuj Khanna, founder and CEO of Service 1st Financial. That gap between what contractors offer and what’s needed to electrify households is part of the reason Khanna founded Service 1st Financial, which offers what he calls “home comfort as a service.” The company is announcing a $5.85 million Series B today that includes a $15 million subordinated debt facility, ZebethMedia has exclusively learned. Khanna said he expects the Series B to close “before year end.” The equity investment was co-led by S2G Ventures, which also led the subordinated debt facility. Other investors were not disclosed. The company offers leases that allow homeowners to pay for their HVAC systems over time while coupling them with maintenance plans for the life of the contract, which typically lasts 10 years, at which point the homeowners can opt for a new system. “The home comfort industry is this old-school, slow-to-change industry that’s still just selling product,” Khanna said. He said that’s at odds with broader market trends that suggest people are now comfortable buying services instead of products. HVAC contractors do offer annual service plans, but typically just cover basic maintenance, which Khanna said is the market’s attempt to boost customer retention. “They hope that you stay on that plan long enough that they eventually get the next replacement sale,” he said. “The problem is it doesn’t actually serve the intended purpose. And it’s not a great customer experience because every time a contractor is generally in that home, they’re then trying to sell something else to the customer. And that’s not what customers want — they want their system maintained so it never breaks.” Khanna was inspired to found Service 1st Financial after leaving his last job at a private equity firm. There, he led an investment into a large home services company owned at the time by Lennox, the HVAC systems manufacturer. He said during his time on that investment, there was “no discussion whatsoever at the contractor and consumer level going on about sustainability.” Once the company was turned around, the PE firm sold it to Enercare, a Canadian company. In Canada, a leasing model is more common, Khanna said, and Enercare used the purchase to bring that business model to the U.S. “I was kind of sitting on the sidelines doing some other things in my career, and I said, ‘You know, there’s a massive opportunity here.’ Consumer purchasing behavior is changing,” Khanna said. He founded Service 1st Financial in 2019 with his own money and an investment from Thayer Street Partners. Today, the company has customers in 25 states. Khanna said that his company’s portfolio is about 32% heat pumps, which is about double the national average of about 15% of all homes, according to the U.S. Energy Information Administration. The Inflation Reduction Act, which offers tax credits for heat pumps, is expected to supercharge the market. Khanna said lease originations are already up 80% year over year, and growth could hit 400% next year. In addition to expanding geographically, he said the funding round would also go toward building a learning management system to help train HVAC contractors. More partnerships could be on the table, too. This summer, the company announced a partnership with HVAC manufacturer Fujitsu, and it has another in the wings. Service 1st holds its lease contracts in a special purpose vehicle, Khanna said, which is also the recipient of the subordinated debt facility. The SPV also has a debt facility with Forbright Bank, a lender that focuses on decarbonization. The debt subordinated facility allows the startup to “use our equity for extremely high ROI initiatives at the parent to continue to grow and scale the business,” Khanna said. He added that S2G was interested in the subordinated debt facility because of Service 1st Financial’s lessee’s “extremely low default rates and very strong credit quality.” Khanna said that his company has been approached by utilities interested in having Service 1st Financial run their energy efficient programs, moving them away from selling discounted items and toward a service-based model. “Their focus is on electrified heat pumps. Can we incentivize the purchase of electrified heat pumps through a service-based model that can allow homeowners to replace those systems every 10 years or so?” he said. It’s a very different model than U.S. utilities are used to, but they’re finally interested in testing something new. “I think this is where the Inflation Reduction Act is causing some organizations that typically take a long time to make decisions to move very quickly,” Khanna said.

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Upside’s cell-cultured chicken is first to receive FDA blessing for its production method • ZebethMedia

By zebethcontrolPosted on Posted in cultivated meat, Food and Drug Administration, Startups, Upside FoodsNo Comments on Upside’s cell-cultured chicken is first to receive FDA blessing for its production method • ZebethMedia

In a major first, the U.S. Food and Drug Administration just offered its safety blessing to a cultivated meat product startup. It completed its first pre-market consultation with Upside Foods to examine human food made from the cultured cells of animals, and it concluded that it had “no further questions” related to the way Upside is producing its chicken. “At this time, this is the only human or animal food product for which the FDA has completed an evaluation,” the agency confirmed to ZebethMedia via email. Before you get too excited, the FDA noted that the pre-market consultation “is not an approval process,” but that it did agree with Upside’s safety conclusion about its products. Still, it’s an historic milestone for cultivated meat companies that are trying to scale their products. Indeed progress around the world has been slower than food entrepreneurs might like. Singapore was the first nation to approve cultured meat products for sale, with Eat Just being the first, and really only, company to sell its lab-grown chicken there. As Upside Foods explains, the company will now work with the USDA’s Food Safety and Inspection Service to secure the remaining approvals before its cultivated chicken can be sold to consumers. The company didn’t provide a timeframe for when that will happen, but says that “more details on the timing of the launch will follow.” The FDA and United States Department of Agriculture Food Safety and Inspection Service (FSIS) say these requirements include facility registration for the cell culture portion of the process, a manufacturing inspection and for the food itself to receive a mark of inspection from the FSIS before it can enter the U.S. market. This includes making sure it is properly regulated and labeled, the agency said. “We are already engaged in discussions with multiple firms about various types of food made from cultured animal cells, including food made from seafood cells that will be overseen solely by the FDA,” the FDA said in a written statement. “Our goal is to support innovation in food technologies while always maintaining as our priority the production of safe food. Human food made with cultured animal cells must meet the same stringent requirements, including safety requirements, as all other food.” While Upside’s chicken product is now deemed safe, is it practical price-wise? As we’ve previously reported, making cultivated meat products is expensive and the scale is not yet close to meeting the demand for meat around the world. What is evident is that there is a lot of activity going on in this space. Just this week, Meatable unveiled its hybrid approach of lab-grown meat and plant-based proteins to be able to move faster to market. Meanwhile, Vow, another cultivated meat startup, announced a rather large Series A round — $49.2 million — and is tapping into that existing Singapore network to get its exotic meat products, like kangaroo and alpaca, into restaurants. One thing’s for sure, the FDA making a definitive move for Upside Foods will hopefully be a “rising tide lifts all boats” moment for the cultivated meat industry. Synthesis Capital’s co-founder and partner Rosie Wardle, who was part of UPSIDE’s $400 million Series C round earlier this year, seems to think so. She said via email that Synthesis sees this “as one of the most important milestones for the future of the food industry to date.” Especially as the cultivated meat method is estimated to cut greenhouse gas emissions by up to 96% via less water, land use and energy over the traditional way of using animals to make meat. “Our own research indicates that alternative protein growth will continue exponentially through the late 2020s and early 2030s, with the sector reaching dominant market share in around 2035,” Wardle added. “The FDA approval for cultivated meat is a significant step in that direction, and we believe this announcement will have an overwhelmingly positive impact on the broader alternative proteins market.” We’ve reached out to Upside Foods for comment and will update the story with any responses.

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Kenya’s Twiga dismisses in-house sales team, affecting 21% of it employees • ZebethMedia

By zebethcontrolPosted on Posted in kenya, Startups, TwigaNo Comments on Kenya’s Twiga dismisses in-house sales team, affecting 21% of it employees • ZebethMedia

Kenya’s B2B e-commerce food distribution platform Twiga has laid off 211 of its full-time employees following restructuring that has eliminated the company’s in-house sales team. The laid-off staff make up 21% of the over 1,000 employees mainly in Kenya, where it links farmers or agricultural producers and fast-moving consumer goods manufactures to retailers. The agritech’s CEO and co-founder Peter Njonjo told ZebethMedia that the laid-off trade development representatives were given the option of working for the company as independent agents with pay based on the customers they acquire and sales they make. The representatives signed up vendors and were in charge of customer relations, gathering market intelligence and promoting products to clients. In the current proposition, the agents will carry out similar duties. Reports also state that Twiga has limited its staff travel allowances as part of its cost-cutting measures. “Twiga recently launched a new optimized sales agents’ program … where current Trade Development Representatives (TDRs) will transition from permanent employees into independent agents on a 100% commission basis,” said Twiga in response to a ZebethMedia inquiry, adding that the transition of the TDRs was made in line with labor laws and that impacted employees were granted the first right of refusal to transition to the new model. The company says it plans to create 1,000 opportunities through the agent model by the end of next year’s first quarter. “This transition creates an opportunity for entrepreneurship open to former sales agents and the general public. The benefit of this transition is that it allows for higher earnings based on the effort and enterprise of the agent. This model has worked with other businesses like insurance and banking that have transitioned fully into Independent Agents in Kenya.” Twiga, co-founded by Njonjo and Grant Brooke in 2014, joins the growing list of startups in Africa and across the globe downsizing amid a slowdown in VC funding, which has made capital for operations and growth hard to access. The changes come exactly a year after Twiga raised $50 million in series C round to scale in Kenya and expand to neighboring countries. The round was led by Paris- and Nairobi-based family office and private equity firm Creadev as TLcom Capital, IFC Ventures, DOB Equity and Goldman Sachs’ spinoff Juven made follow-on investments. They also recently launched Twiga Fresh, an addition to its private label through which it will farm and distribute its own agricultural produce to traders and to deal with traceability challenges, stock outs and price volatility — which have made it hard for the company to deliver on its promise of affordability and food security.  

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My co-founder’s a green card applicant who just got laid off. Now what? • ZebethMedia

By zebethcontrolPosted on Posted in Column, Dear Sophie, EC Column, Government & Policy, O-1A visa, Sophie Alcorn, Startups, tech layoffs, VentureNo Comments on My co-founder’s a green card applicant who just got laid off. Now what? • 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 I stay in the US if I’ve been laid off? Dear Sophie: How can students work or launch a startup while maintaining their immigration status? 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, My co-founder and I were both laid off from Big Tech last week, and it’s the kick we needed to go all-in on our startup. We’re both first-time founders, but my co-founder needs immigration sponsorship to maintain status with our startup. Do we look at an O-1A in the 60-day grace period? Thanks! — Newbie in Newark Dear Newbie, It’s been a crazy couple of weeks and we have more Big Tech (and startup) layoffs coming. We have lots of educational resources for what to do if you were laid off and you need non-immigrant visa sponsorship or a green card. As explained in last week’s article, there are ways for laid-off immigrants to seek additional time in the U.S. to make their next move. Apparently, almost 25% of laid-off tech workers start their own companies, but I am sure the number has historically been lower for international folks because the ball and chain of the U.S. immigration system can feel weighty. However, there are a lot of ways that you and your co-founder can take to successfully navigate the layoff, the grace period and sponsorship at the new startup. Here’s how: Deadlines and pathways The 60-day grace period is discretionary. We advise conservatively that the grace period begins from the date of termination, although some laid-off individuals will continue to get paychecks for many months. Many of the layoffs are public and WARN Act notices are issued, so the Department of Homeland Security is on notice. That said, if you need more time to set things up properly for your new startup to exist and sponsor your co-founder’s immigration, your co-founder can apply for a change of status to B visitor. As a B-1 business visitor, your co-founder can engage in certain activities legally, such as business formation and fundraising meetings, and request an additional six months of time beyond the 60-day grace period. This application process can run in parallel with immigration sponsorship by a new company. Image Credits: Joanna Buniak / Sophie Alcorn (opens in a new window) Sometimes, you can qualify to sponsor a co-founder for an H-1B transfer so they can work at your startup if you meet the requirements. Additionally, many individuals will use the runway provided by the six months of B-1 status to build their portfolio of accomplishments to qualify for an O-1A visa for extraordinary ability. The O-1 status is available to many professionals, including founders who can demonstrate they are at the top of their field. An O-1A is particularly advantageous for startup founders, because it can be sponsored by an agent for an itinerary of services, including advising other startups for equity, being a venture scout for a VC firm and getting paid as a contractor for speaking engagements in your field. Founders born in India or China are subject to the green card backlogs for individuals, and the O-1A can be a great stepping stone to qualify for and self-sponsor the faster EB-1A green card pathway. Incorporate For either an H-1B, TN, E-3 change of employer or a change of status to O-1A, you should be aware of the importance of setting up your company to successfully sponsor your co-founder and other hires for visas and green cards while also attracting funding from investors.

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Bending Spoons acquires Evernote, marking the end of an era • ZebethMedia

By zebethcontrolPosted on Posted in acquisition, App, Apps, Enterprise, Evernote, note taking, StartupsNo Comments on Bending Spoons acquires Evernote, marking the end of an era • ZebethMedia

Evernote, the note-taking and task management app founded over 20 years ago, has been acquired by Milan-based app developer Bending Spoons. In a post on Evernote’s newsroom, Evernote CEO Ian Small said that Bending Spoons will take ownership of Evernote in a transaction expected to close in early 2023. “For Evernote, this decision is the next strategic step forward on our journey to be an extension of your brain,” Small wrote. “Teaming up with Bending Spoons will [accelerate] the delivery of improvements across our teams, professional, personal and free offerings.” For Evernote, the acquisition — the terms of which weren’t made public — marks the end of a roller coaster of a journey. Founded in 2000 by Russian-American entrepreneur Stepan Pachikov, Redwood City-based Evernote made handwriting recognition software for Windows and the eponymous note-taking, web-clipping app Evernote, which stored notes on an “infinite roll of paper.” Under CEO Phil Libin, who joined the company in 2007, Evernote shifted its focus to the web, smartphones and Mac, starting with Evernote 3.0 in 2008. This proved to be a winning strategy — at least at first. Between 2010 and 2015, Evernote raised hundreds of millions of dollars in venture capital from investors including Sequoia, Meritech Capital and Japanese media company Nikkei. Its web service reached 11 million users within the first three years and Evernote launched a business in China, Yinxiang Biji, as the startup sought to rapidly expand. In 2013, Evernote was reportedly valued at nearly a billion dollars. But then trouble set in. Evernote’s chief operating officer, appointed in June 2015, left after just a few months. Meanwhile, Libin pursued partnerships with physical goods brands like Moleskine and Pfeiffer, launching Evernote-branded desk accessory lines that failed to catch on in a major way. Former Google Glass executive Chris O’Neill replaced Libin in July 2015. And in October of that year, Evernote laid off 18% of its staff and closed three of its ten global offices. August 2018 saw an exodus of top execs, including Evernote’s chief technical officer, chief financial officer, chief product officer and head of HR. Fifteen percent of the company’s workforce was laid off in September 2018, a step O’Neill justified as necessary to correct for the company’s recent overexpansion and “inefficiency.” Small, the former CEO of platform-as-a-service company TokBox, came on in 2018. Under his leadership, Evernote hit $100 million in recurring revenue, millions of paying customers and over 250 million users. But it largely failed to keep pace with competitors like Notion, opting to rely heavily on a consumer-focused freemium model while eschewing the kinds of collaboration features embraced by its rivals. So what does Bending Spoons gain with the purchase? Another feather in its software cap, it’d seem. The European tech company makes apps like video editor Splice, 30 Day Fitness, Live Quiz and photo editor Remini, which combined have about 100 million users. Bending Spoons CEO Luca Ferrari says that Bending Spoons — fresh off of a $340 million venture round — will apply its “proprietary technologies” to Evernote to “augment its usefulness” and “strengthen its reach.” “Our mission at Bending Spoons is to make an enduring positive impact on our customers, on our teammates, and on society at large. Every day, millions of people across the globe rely on Evernote to organize their lives,” Ferrari said in a statement. “As such, Evernote is a perfect fit for the Bending Spoons portfolio, and we’re delighted to be able to serve its large and loyal customer base.”

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Join Bitcoin Association for BSV and Polygon at TC Sessions: Crypto • ZebethMedia

By zebethcontrolPosted on Posted in BSV, Crypto, Polygon, Startups, TC Sessions: Crypto, TC Sessions: Crypto 2022No Comments on Join Bitcoin Association for BSV and Polygon at TC Sessions: Crypto • ZebethMedia

It’s time for another shout-out to recognize more of our partner companies that are dedicating their time and resources to make TC Sessions: Crypto — taking place tomorrow on November 17 in Miami — an awesome experience for everyone. The cure for FOMO: Buy your pass right now to keep your fingers on the pulse of the dynamic cryptoverse. ZebethMedia partners do a whole lot more than just cut a check. They show up and deliver relevant content, resources and expertise to help early-stage startup founders build better and stronger companies. You’ll find that holds true at TC Sessions: Crypto, too. Check out our other partners, and be sure to explore the full agenda. Today we’re highlighting breakout sessions from two companies — Bitcoin Association for BSV and Polygon. Let’s take a look at what they’re bringing to the startup table. Someone Stole Your Bitcoin…Now What? As high-profile crypto and NFT thefts continue to haunt wary investors, who are already navigating a harsh crypto winter, robust security developments are growing increasingly more important. Fortunately for investors and business owners alike, there is finally a way to protect digital assets against the worst-case scenario. This session with Connor Murray — content creator for the Blockchain Academy SV and co-founder and CEO of True Reviews — will cover how, for the first time ever, Bitcoin can be frozen and recovered through the Digital Asset Recovery (DAR) Process. The process makes it possible for property rights to be enforced and to recover stolen or lost Bitcoin. Learn how this is the first, crucial step toward safeguarding all digital assets against theft and scams within the rule of law, how investors can use this tool, and how platforms can easily adopt this process to better protect users.Sponsored by Bitcoin Association for BSV. Robotaxis in the Metaverse How does autonomous transportation operate in the metaverse? In this session — led by Siraj Raval, a developer educator at Polygon — we’ll build an autonomous car in a simulated environment using computer vision and path-planning algorithms. Next, we’ll integrate a Polygon wallet with the car so that the car can extend its autonomy to not only drive itself, but to also pay for its own repairs, maintenance and upgrades. Sponsored by Polygon. The Future of Finance In this session, Colin Butler, Polygon Technology’s Global Head of Institutional Capital, will discuss why DeFi remains superior to CeFi, how Polygon is empowering DeFi developers and Polygon’s approach to tackle liquidity and new users via partnerships with Stripe, Robinhood, Nubank and many more. Sponsored by Polygon. TC Sessions: Crypto takes place on November 17 in Miami. Don’t miss your opportunity to connect with our partners and to tap into the tech, trends and controversy spanning the blockchain, cryptocurrency, DeFi, NFT and web3 cryptoverse. Buy your ticket today! Is your company interested in sponsoring or exhibiting at TC Sessions: Crypto? Contact our sponsorship sales team by filling out this form.  

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Israel’s OurCrowd expands to Abu Dhabi • ZebethMedia

By zebethcontrolPosted on Posted in Abu Dhabi Investment Authority, Crowdfunding, investments, OurCrowd, Startups, VentureNo Comments on Israel’s OurCrowd expands to Abu Dhabi • ZebethMedia

Crowdfunding platform OurCrowd, which has now become Israel’s most active venture firm, today announced that it is expanding its operations in Abu Dhabi by launching a new office and AI tech hub — enabled by the Abu Dhabi Investment Office — in the emirate. In total, OurCrowd plans to invest $60 million as part of this move. It’s only been a bit over two years since Israel and the United Arab Emirates normalized their diplomatic ties, but OurCrowd was among the first to apply for a license to operate in the emirate. OurCrowd Arabia opened in Abu Dhabi in 2021 and its new investment center in the country will manage its deals there and also cater to its investors in the emerging market. In total, the firm expects to have a staff of 60 in the emirate. “Following a global search for the most suitable location for IDI and OurCrowd’s new investment center, Abu Dhabi was by far the most fitting destination,” OurCrowd CEO and founder Jon Medved said. “The World Economic Forum ranks the UAE first in the world in best e-infrastructure and macroeconomic stability, and the third most-trusted government. These factors, with numerous other advantages including global talent and market access, underscore why Abu Dhabi is now home to OurCrowd Arabia and OurCrowd’s new AI spinoff, and why we will continue to invest in the innovation infrastructure and talent in the country.” Earlier this month, OurCrowd celebrated that its total investment commitments had crossed $2 billion, just over three years after it hit $1 billion. The firm has now invested in 370 companies, with another 410 held through partner funds. It has seen 60 exits so far and currently plays host to about 220,000 registered investors from 195 countries.

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