Tag: raises

13
Oct
2020
Posted in software

BlackSwan Technologies Launches World’s First AI Operating System, Raises $28 Million in Funding to Pioneer Next Generation of Enterprise Software

Groundbreaking AI Software Highlighted by Gartner As “Bringing AI Closer to Human Learning and Intelligence”  

Company’s Stealth Mode Successes Include Tens of Millions in Revenue, Long-Term Contracts & Partnerships with the World’s Largest Consultancies & Fortune 500 Clients

BlackSwan Technologies launches as the world’s first enterprise AI operating system, enabling any company to leverage the most advanced artificial intelligence for an unprecedented level of operational efficiency and data-driven decision making. Since it began offering its technology to a limited customer base earlier this year, BlackSwan Technologies has generated tens of millions of dollars in revenue through multi-year contracts with many leading businesses. The company has also established a groundbreaking partnership with Deloitte to provide leading global banks an AI-powered platform that is already proven to increase revenue and drive efficiencies.

BlackSwan Technologies was recently recognized in Gartner’s 2020 Hype Cycle for Emerging Technologies report as a pioneer in “bringing AI closer to human learning and intelligence.” The company’s signature Platform as a Service (PaaS), ELEMENT, accomplishes this by combining multiple AI technologies — including machine learning, natural language processing, deep learning, neural network and data operation facilities — into a single platform.

Unlike other enterprise AI offerings, ELEMENT does not require well-organized data sets, countless hours of data normalization or technical in-house expertise to implement. ELEMENT’s Low code/No code, cloud-agnostic system includes several advanced enterprise applications including for Risk Management, Compliance, Lead Generation, Personalization and Market Intelligence. The platform also allows users to build enterprise applications up to 60 times faster and at a fraction of the cost of market alternatives. ELEMENT is designed to continuously learn and evolve with the enterprise and has a completely customizable structure with a simple, drag-and-drop interface, democratizing the development and execution of large, industrial enterprise applications.

“We believe this represents a

13
Oct
2020
Posted in technology

Crypto startup raises $2.2 million in fundraise to simplify governance for token delegates

Count this as another sign that the scrappy market for decentralized finance is growing up. 

Boardroom, a company developing a platform for DeFi governance, has completed a $2.2 million raise. The round was led by Standard Crypto, which was joined by a slew of digital asset investors including Slow Ventures, CoinFund, and Framework. The firm says it will use the fresh cash to build a suite of tools for DeFi power-users and protocols delegates to more seamlessly participate in governance decisions across projects.

Despite the breakneck growth of the DeFi market in recent months, governance has been fragmented and clunky. Stakeholders are forced to navigate disparate channels to access information about governance decisions and then vote, says Boardroom founder Kevin Nielson.

For instance, users who want to delegate their voting power to a third-party have to jump through a number of hoops to do so. In some cases token holders even have to self-delegate to vote on a given proposal (such as a change to interest rates offered on a DeFi lending platform).

In DeFi, users can offload their voting power to third-party delegates, but the process isn’t always straight forward and varies from protocol to protocol. In addition to simplifying delegation, Boardroom looks standardize the way in which protocol decisions are communicated to stakeholders. “We provide a standardization on top of the protocol,” said Nielson.

Part of that means moving projects from Discord channels and Twitter to the platform where they can more efficiently target stakeholders. In a sense, the platform resembles a DeFi-twist on Wall Street’s corporate governance platforms such as Nasdaq Boardvantage, which connects public company leadership with its board members. 

 In the future, the firm will offer a white-label service for DeFi projects as well, Nielson said.

“Think of it as governance as a service,” Nielson

13
Oct
2020
Posted in technology

Maersk Raises Outlook as Shipping Giant Sees Demand Rebound

(Bloomberg) — A.P. Moller-Maersk A/S raised its full-year guidance amid a recovery in demand and sweeping efforts to cut costs.



a large ship in the background: Inside DP World Plc London Gateway Port


© Bloomberg
Inside DP World Plc London Gateway Port

The container shipping company, which is eliminating hundreds of jobs, said earnings before interest, taxes, depreciation and amortization will be in the range of $7.5 billion to $8 billion, before restructuring and integration costs. That compares with an earlier forecast of $6 billion to $7 billion, according to a statement.

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“The upgrade underlines the strong earnings momentum,” Brian Borsting, a credit analyst at Danske Bank A/S, said in a client note.

Copenhagen-based Maersk, which transports about 15% of the globe’s seaborne freight, said there was a “continued recovery in demand” in the third quarter. It reported revenue of $9.9 billion for the quarter, and an EBITDA before costs of $2.4 billion.

Maersk is undertaking a major restructuring as the world’s biggest shipping company grapples with the effects of the Covid-19 pandemic. It’ll take restructuring costs of around $100 million in the third quarter related to around 2,000 job cuts, as it reorganizes its ocean and logistics and services operations.

Video: KBW CEO: Economic recovery is at 80% of pre-Covid levels (CNBC)

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The almost 20% increase in the full-year EBITDA guidance means analysts are likely to materially upgrade their estimates, Jefferies analyst David Kerstens said in a note.

Read More: Maersk Plans Major Restructuring Affecting Thousands of Jobs

The upgrade could also be more good news for holders of Maersk debt, as the borrower may see a change in the negative outlook that it’s been assigned by S&P Global Ratings, according to Danske’s Borsting. Moody’s Investors Service already recently lifted its outlook to positive, he

12
Oct
2020
Posted in technology

Sweetheart Kitchen Raises US$17.7 Million In Series C Funding Round To Launch New Brands And Kitchen Units Across MENA


4 min read

Opinions expressed by Entrepreneur contributors are their own.


You’re reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

Cloud kitchen operator Sweetheart Kitchen has successfully secured €15 million (US$17.7 million) in a Series C funding round backed by strategic investors, led by the company’s founder and CEO Peter Schatzberg.

As a delivery-only multi-brand virtual kitchen, Schatzberg notes that the Dubai-based company is keen to invest their funding into supply chain technology, food design and hiring talent, as they had previously done, and which they plan to continue to do so. “Scaling units is certainly one important objective for us, but we are also investing in streamlining our processes and systems to achieve profitability.”

As a company that is only 15 months old, it’s noteworthy to point out its impressive milestones. The startup (which, according to a Wamda report, is backed by Germany’s Delivery Hero) has previously raised €21 million ($24.8 million) in a previous round. Thus, as of date, the startup has raised a total of $43 million. The brand boasts a portfolio of 30 brands, such as Wingo, Avocado Bravo and Affordabowls, among others.

That’s not to say that cloud kitchen startup hasn’t had their fair share of hurdles during the pandemic. Schatzberg comments, “Almost overnight, we pivoted from scaling volume and units, to demonstrating profitability through aggressive cost-cutting measures that would ordinarily take place in a mature enterprise.” They had to close live units in Kuwait, as well as make reductions, and lose cash flow as they were waiting to open a number of completed units, but was vacant due to citywide lockdowns. He adds, “Any incremental revenue we might have received as a function of the pandemic was more than offset by the various costs and challenges that the pandemic

12
Oct
2020
Posted in technology

Miko Raises INR 23 Cr In Pre-series B Round Led By Stride Ventures

Existing investors Chiratae Ventures, YourNest Venture Capital and NASSCOM former chairman Keshav Murugesh also participated in the round

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3 min read

Opinions expressed by Entrepreneur contributors are their own.


You’re reading Entrepreneur India, an international franchise of Entrepreneur Media.

Mumbai-based startup Miko—founded in 2015 by IIT-Bombay graduates Sneh R. Vaswani, Prashant Iyengar and Chintan Raikar—has raised INR 23 crore in a pre-series B round led by Stride Ventures.

Existing investors Chiratae Ventures, YourNest Venture Capital and NASSCOM former chairman Keshav Murugesh also participated in the round.

The trio founded Emotix which focuses on creating emotionally intelligent solutions and its products leverage proprietary and state of the art artificial intelligence (AI), robotics and Internet-of-Things.

Launch Of Miko 2

After the success of their first generation of Miko, the robotics startup developed Miko 2—a puppy-sized companion robot for children. It uses AI and voice-recognition technology to see, hear, sense, express, talk and recognize faces. The widget tackles a multifaceted need-gap of education, technology, entertainment and hence is an enabler in effective parenting.

“Our growth journey till Miko 2 was about creating a product that meets the needs of today’s parents who seek a positive and trusted gateway of technology. Miko 2 has now evolved into a powerful content subscription platform with global content alliances,” said  Vaswani, co-founder and chief executive officer, Miko, in a statement. “We are on track to surpass the 100,000 user mark in the coming quarters with Miko 2 hosting hundreds of applications and use cases. It’s very encouraging for the entire Miko team to build a global consumer technology brand out of India. In our journey, we are very pleased to partner with Stride Ventures and are looking forward towards a