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The startup train continues to roll on the rails, and I’m back with a little ‘what happened in the startup world this week’.
What Glowforge did for laser cutting, what Cricut did for vinyl cutting, and what RepRap and Ultimaker did for 3D printing is starting to happen for more “serious” prototyping and manufacturing. A new generation of startups is trying to make plastic and metal construction parts more accessible to the masses – I wrote three stories about interesting “manufacturing technology” companies I saw at CES – two new CNC mills (one from Makera and one from Coast Runner) and a A first look at the CNC lathe. These are all technologies that have been around in high-end workshops for many years, but were typically outside the price range of makerspaces and serious hobbyists. As an obsessed maker, I couldn’t be happier.
What else happened? I’ll tell you what happened too. . .
This week’s most interesting startup stories
CES 2024 was a futuristic carnival for transportation geeks, boasting an array of everything electric – from cars and bikes to scooters and planes. Amid this electric extravaganza, artificial intelligence has flexed its muscles in everything from smart scooters to chatty cars, while hydrogen vehicles have quietly reminded us that they’re still in the game. The event was less about traditional car displays and more about showcasing the technology that could make our journeys smarter, safer and more sci-fi. Kirsten recapped the things to watch for in the transportation sector this year, while noting that there was almost no sex tech to be found during our annual consumer tech pilgrimage to Vegas.
Of course, AI has been everywhere, and Cody wrote a report detailing how AI technology has emerged for good, evil, and weirdness.
Moar:
to infinity and beyond: Astrobotic’s Peregrine lunar lander is still operating in orbit, with the company saying there is “growing optimism” that the spacecraft could remain in space for longer than the current estimate.
Cupertino rage: It looks like the Apple vs. Beeper saga is far from over. Now Apple customers who used Beeper apps have reported that they have been blocked from using iMessage on their Macs.
Like Airbnb, but more consistent: Rather than acting as a marketplace to pair travelers with vacation rental property owners, Overmoon actually owns the homes and, therefore, has greater control over the quality and maintenance of the properties.
Most interesting fundraiser this week
In the wake of a challenging 2023 and a significant decline in public offerings, technology startups and high-growth companies are once again turning their sights toward initial public offerings (IPOs). Major players such as healthcare payments’ Waystar, cybersecurity startup Rubrik, and micromobility company Lime are among those rumored to be considering IPOs. This trend is also evident in the field of AI startups, which continue to attract interest in venture capital circles. Despite this renewed interest, the path to a successful IPO is full of challenges. Investors and bankers are now demanding clear strategies for profitability and positive cash flow, pushing companies to solidify their business fundamentals and plan carefully for future growth, writes Gary Klintworth for TechCrunch+, explaining what you need to pay attention to if you have IPO ambitions.
more:
Like and subscribe. . . For this car: Finn, a Munich-based car subscription startup, has revved its engines with a massive $109 million funding round, reaching a gaudy valuation of $658 million. The move accelerates its green ambitions, which aim to have an 80% electric fleet by 2028.
Fintech slowdown in Africa: In a classic story of “biting off more than you can chew,” African neobank Koda found itself missing its projected user number by 3 million. It aspired to double its user base to 10 million by the end of 2023, but reality had other plans.
AI Lock: Vicarius, which is riding the AI cybersecurity wave, has lured investors into handing over $30 million for its AI-powered vulnerability detection tools. Co-founded by three people who noticed that cyber attackers were playing the same old tunes using system APIs, Vicarius now prides itself on automating the hard work of finding and fixing vulnerabilities. The company raised $24 million two years ago as well.
This week’s big trend: Moar AI (of course…)
I know the “trend of the week” seems to be AI every week, but what can I say. They’re everyone’s favorite vowels at the moment!
Here are three of the must-read stories about the intersection of AI and startups this week:
Heaven couscous: In a development that sounds like a science fiction novel, researchers at Anthropic have discovered that artificial intelligence models — like moody teenagers — can be trained to deceive. They found that by tweaking models with specific trigger phrases, a team could go from being helpful to subtly writing weak code to throwing digital tantrums.
CTRL + ALT + LAUNCH: In a bold move that may make developers question their career options, Singapore-based Locofy has unveiled “Lightning,” a brilliant one-click tool that turns Figma and AdobeXD designs into code. This technical marvel promises to automate nearly 80% of front-end development.
What is in bliss?: A great name won’t save mediocre AI, but pair a great name with top-notch technology, and you’ve got a winner. Don’t rush to name your little one an AI, writes branding and naming expert Aaron Hall for TC+.
Other TechCrunch stories you can’t miss. . .
Each week, there are a few stories I want to share with you that somehow don’t fall into the categories above. It would be a shame to miss out on these, so here’s a random bag of goodies for you:
Above and beyond: NASA and Lockheed Martin have finally unveiled the X-59, a supersonic plane years in the making that aims to soar through the sky at the speed of sound while maintaining its boom on a polite “blow.”
Last call: Uber is saying goodbye to its $1.1 billion baby Drizly, just three years after the acquisition, and deciding that integrating alcohol delivery into Uber Eats is a better buzz.
Apple tax continues: In the classic “give an inch and go a mile” scenario, Apple’s latest response to the court ruling has caused quite a stir in the app world. Despite being asked to allow alternative payment options for developers, Apple still insists on taking a 27% discount on sales made outside its system.