General Electric wants to sell its stake in more than 100 start-ups

GE Ventures is looking for a buyer for its portfolio of more than 100 start-ups, according to people familiar with the matter, as parent company General Electric tries to orchestrate a turnaround and get its debt problem under control. GE Ventures hired investment bank Lazard to manage the process, said two of the people. GE Ventures has invested in a range of start-ups in areas like energy, technology and health care. GE Ventures was started by Sue Siegel, who is now GE’s chief innovation offic


GE Ventures is looking for a buyer for its portfolio of more than 100 start-ups, according to people familiar with the matter, as parent company General Electric tries to orchestrate a turnaround and get its debt problem under control. GE Ventures hired investment bank Lazard to manage the process, said two of the people. GE Ventures has invested in a range of start-ups in areas like energy, technology and health care. GE Ventures was started by Sue Siegel, who is now GE’s chief innovation offic
General Electric wants to sell its stake in more than 100 start-ups Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: christina farr
Keywords: news, cnbc, companies, sell, months, 100, health, ventures, venture, stake, wants, partners, turnaround, ge, portfolio, according, company, startups, general, electric


General Electric wants to sell its stake in more than 100 start-ups

GE Ventures is looking for a buyer for its portfolio of more than 100 start-ups, according to people familiar with the matter, as parent company General Electric tries to orchestrate a turnaround and get its debt problem under control.

The venture arm, which started in 2013, has been shopping itself for several months and is in discussions with other venture firms as well as groups of limited partners who invest in those funds, said the people, who asked not to be named because the discussions are confidential. GE Ventures hired investment bank Lazard to manage the process, said two of the people.

GE is in a difficult financial position, with $110 billion in debt as of March 31, according to FactSet, and it continues to burn cash as CEO Larry Culp works through what he’s calling a multiyear turnaround. The stock is down 23% over the past 12 months even after rallying 43% so far this year. GE Capital reduced its liabilities in the first quarter, completing $1.1 billion in asset reductions in the period. GE is also under investigation for its accounting practices.

GE Ventures has invested in a range of start-ups in areas like energy, technology and health care. Its portfolio includes Evidation Health, which focuses on clinical studies, Verana Health, a patient-focused life sciences company, and augmented reality software developer Upskill.

Selling a venture portfolio is particularly challenging because the buyer has to assume ownership of not only the companies that have market traction but also those that are struggling, and in start-up land there tend to be far more failures than successes. GE has made clear to potential buyers that it does not want to sell off its investments on a piecemeal basis, but would prefer to offload the entire basket and ideally find a home for its remaining partners, people familiar with the matter said.

“During this time of transformation for GE, we are evaluating strategic options for GE Ventures to continue delivering returns for our shareholders and partners,” said Megan Newhouse, a GE spokesperson, in a statement. “While we can’t comment specifically on that process, we remain committed to supporting our portfolio companies, business units and partnering with the entrepreneurial ecosystem.”

Lazard declined to comment.

GE Ventures was started by Sue Siegel, who is now GE’s chief innovation officer and remains CEO of the ventures arm, according to her company bio. Many of the group’s top partners have left the firm in recent months, including Lisa Suennen, Noah Lewis and Jessica Zeaske.

In January, MedCityNews reported that GE Ventures would look to spin out from its parent company. The company has since shifted its strategy to focus instead on a search for a buyer.

Correction: The Key Points of this article have been updated with the correct percentage GE’s stock has fallen over the last 12 months.

WATCH: GE could rally another 80% from here, says pro


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: christina farr
Keywords: news, cnbc, companies, sell, months, 100, health, ventures, venture, stake, wants, partners, turnaround, ge, portfolio, according, company, startups, general, electric


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Bill Gates and Travis Kalanick invest in A.I. chip start-up using light to move data

The seven-person company’s goal is to build a chip that can substitute for 3,000 boards containing Google’s latest Tensor Processing Unit AI chips, or TPUs. “We know this works because we already have working silicon,” Gomez claimed. Google’s entry into the AI silicon business was itself a bold development. He sees the company’s use of silicon photonics as a way to distinguish from AI chip start-ups with similar aspirations, like Graphcore. Silicon photonics enables fast data transfer with light


The seven-person company’s goal is to build a chip that can substitute for 3,000 boards containing Google’s latest Tensor Processing Unit AI chips, or TPUs. “We know this works because we already have working silicon,” Gomez claimed. Google’s entry into the AI silicon business was itself a bold development. He sees the company’s use of silicon photonics as a way to distinguish from AI chip start-ups with similar aspirations, like Graphcore. Silicon photonics enables fast data transfer with light
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Company: cnbc, Activity: cnbc, Date: 2019-06-03  Authors: jordan novet
Keywords: news, cnbc, companies, gomez, kalanick, travis, luminous, cofounder, startup, invest, gates, bill, silicon, chips, chip, startups, photonics, data, using, companies, light, ai


Bill Gates and Travis Kalanick invest in A.I. chip start-up using light to move data

Bill Gates, co-founder of Microsoft, during an interview at the World Economic Forum in Davos, Switzerland, on Jan. 22, 2016.

Microsoft co-founder Bill Gates, Uber co-founder Travis Kalanick’s 101100 fund and current Uber CEO Dara Khosrowshahi have invested in Luminous, a small start-up building an artificial intelligence chip.

The investment shows key figures in the technology industry believe there is still an opportunity for a new standard to emerge when it comes to hardware for AI, which can be incorporated into a variety of software applications.

Several start-ups have been working on next-generation hardware in recent years as AI has become trendy. Intel bought one, called Nervana, in 2016. Early Nervana investor Ali Partovi of Neo is investing in Luminous, which is based in Palo Alto, California.

“I always prefer to bet on a talented young team over a big established company. While there’s certainly a ton of risk, that’s what makes it worth investing now: if the race was already over, it would be too late to invest,” Partovi told CNBC via email.

Current companies are struggling to make big gains with chips that can run AI models, Luminous co-founder and CEO Marcus Gomez told CNBC in an interview on Monday. The seven-person company’s goal is to build a chip that can substitute for 3,000 boards containing Google’s latest Tensor Processing Unit AI chips, or TPUs.

“We know this works because we already have working silicon,” Gomez claimed.

Google’s entry into the AI silicon business was itself a bold development. The company took matters into its own hands, rather than relying on the Nvidia graphics cards that have become popular among AI researchers for training AI models with vast supplies of data. Google’s public cloud now features its own TPUs; the company hasn’t started selling these chips to other companies.

Luminous does want to sell its chips to different types of companies. Cloud providers like Google or Amazon Web Services could buy them. In addition, companies that make drones, robots or self-driving cars could work them into their systems, said Gomez who has worked at Google and Match Group’s Tinder.

At Tinder he would start training an AI model on a cloud in the morning and check to see if it was done in the evening, he said. People should be able to train models in minutes, not hours or days, Gomez said.

He sees the company’s use of silicon photonics as a way to distinguish from AI chip start-ups with similar aspirations, like Graphcore. Silicon photonics enables fast data transfer with light inside small places, like servers, similar to how fiber-optic cables can quickly move data over long distances. The approach Luminous is using draws on co-founder Mitchell Nahmias’ earlier neuromorphic photonics work at Princeton University.

A few other start-ups, like Lightmatter and Lightelligence, are looking to silicon photonics to boost AI processing. Alphabet’s GV invested in Lightmatter. The idea is to make the Luminous chip compatible with popular open-source AI software frameworks like TensorFlow and PyTorch.

Gomez said it’s hard to say when the chips will become commercially available.

“We’re using exact same technologies that everyone else is using, and so as a consequence, our timelines are on similar paths to other companies,” he said.

WATCH: How artificial intelligence is disrupting industries across the board


Company: cnbc, Activity: cnbc, Date: 2019-06-03  Authors: jordan novet
Keywords: news, cnbc, companies, gomez, kalanick, travis, luminous, cofounder, startup, invest, gates, bill, silicon, chips, chip, startups, photonics, data, using, companies, light, ai


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The oil-reliant United Arab Emirates is betting big on tech start-ups and A.I.

The United Arab Emirates (UAE) is furthering its push into technology and artificial intelligence, in a bid to future-proof its oil, trade and tourism-dependent economy. “We’re looking global,” Mahmoud Adi, the head of Hub71, told CNBC’s “Capital Connection ” Thursday. “We believe that Abu Dhabi can offer access to capital, access to ease of doing business, and we are extremely glad that yesterday we saw that the cabinet announced five-year visas,” he added. The UAE has put in place significant


The United Arab Emirates (UAE) is furthering its push into technology and artificial intelligence, in a bid to future-proof its oil, trade and tourism-dependent economy. “We’re looking global,” Mahmoud Adi, the head of Hub71, told CNBC’s “Capital Connection ” Thursday. “We believe that Abu Dhabi can offer access to capital, access to ease of doing business, and we are extremely glad that yesterday we saw that the cabinet announced five-year visas,” he added. The UAE has put in place significant
The oil-reliant United Arab Emirates is betting big on tech start-ups and A.I. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: dan murphy
Keywords: news, cnbc, companies, visa, global, dhabi, big, arab, ai, emirates, technology, uae, hub71, fiveyear, abu, betting, tech, capital, oilreliant, united, startups, million


The oil-reliant United Arab Emirates is betting big on tech start-ups and A.I.

The United Arab Emirates (UAE) is furthering its push into technology and artificial intelligence, in a bid to future-proof its oil, trade and tourism-dependent economy.

In the capital of Abu Dhabi where about 90% of central government revenue comes from the hydrocarbon sector, authorities have launched Hub 71 — a 1 billion dirham ($272 million) scheme driven by state investor Mubadala and supported by the Abu Dhabi government to attract and develop technology start-ups.

“We’re looking global,” Mahmoud Adi, the head of Hub71, told CNBC’s “Capital Connection ” Thursday. “We believe that Abu Dhabi can offer access to capital, access to ease of doing business, and we are extremely glad that yesterday we saw that the cabinet announced five-year visas,” he added.

The UAE has put in place significant adjustments to its long-term visa system, which includes a 10-year residency visa for investors and specialists, and a five-year visa for exceptional students and entrepreneurs.

The new Hub71 program will be based at the Abu Dhabi Global Market site and will involve the launch of a 500 million dirham fund to invest in technology start-ups. It aims to attract 100 companies over the next three to five years by offering incentives such as housing, office space and health insurance.

“Hub71 will bring together three key factors essential for the success of Abu Dhabi’s tech ecosystem — capital providers, business enablers and strategic partners, all under one roof,” Mubadala’s Deputy Group CEO Waleed Al Muhairi said in a statement.


Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: dan murphy
Keywords: news, cnbc, companies, visa, global, dhabi, big, arab, ai, emirates, technology, uae, hub71, fiveyear, abu, betting, tech, capital, oilreliant, united, startups, million


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Toyota to invest $100 million in self-driving and robotic technology start-ups

Toyota is creating a $100 million venture fund to invest in autonomous driving and robotic technology start-ups as automakers increasingly push into the self-driving market, the company announced Thursday. Toyota AI Ventures, a Silicon Valley-based subsidiary of Toyota, plans to invest the money into early-stage startups that are developing “disruptive” technologies in those fields, the company said. Pratt added the fund will help “bridge the gap” between automakers and technology start-ups focu


Toyota is creating a $100 million venture fund to invest in autonomous driving and robotic technology start-ups as automakers increasingly push into the self-driving market, the company announced Thursday. Toyota AI Ventures, a Silicon Valley-based subsidiary of Toyota, plans to invest the money into early-stage startups that are developing “disruptive” technologies in those fields, the company said. Pratt added the fund will help “bridge the gap” between automakers and technology start-ups focu
Toyota to invest $100 million in self-driving and robotic technology start-ups Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: ashley turner
Keywords: news, cnbc, companies, company, robotic, technology, 100, invest, ai, toyota, autonomous, fund, selfdriving, vehicle, startups, million


Toyota to invest $100 million in self-driving and robotic technology start-ups

Toyota is creating a $100 million venture fund to invest in autonomous driving and robotic technology start-ups as automakers increasingly push into the self-driving market, the company announced Thursday.

Toyota AI Ventures, a Silicon Valley-based subsidiary of Toyota, plans to invest the money into early-stage startups that are developing “disruptive” technologies in those fields, the company said.

“Auto manufacturers must participate in the startup ecosystem to stay ahead of the rapid shift in the auto industry,” Jim Adler, managing director of Toyota AI Ventures, said in a statement.

The company said the fund is part of Toyota’s mission to help “discover what’s next” for Japan’s biggest automaker. Toyota’s AI venture fund has already invested in 19 different start-ups over the last two years, bringing its total funding commitment to autonomous driving technology to $200 million, the company said.

“The growing interest in automated systems has created great opportunities to improve human lives using AI and next-generation mobility technology,” Dr. Gill Pratt, chief executive officer at the Toyota Research Institute, said in a statement. Pratt added the fund will help “bridge the gap” between automakers and technology start-ups focused on autonomous transportation.

This is just the most recent investment Toyota is making in the autonomous vehicle market. In April, Toyota and auto-parts supplier Denso said they would together invest $667 million into Uber’s self-driving vehicle unit. Toyota also committed to contributing an additional $300 million to Uber’s push into self-driving vehicles over the next three years.

At the 2018 Consumer Electronics Show, Toyota also unveiled a self-driving concept food-delivery vehicle called the e-Pallette. The e-Pallette was part of a partnership with Amazon to help Amazon explore ways to use self-driving cars for food delivery.

Entering the autonomous vehicle market has been a goal for many automakers, with companies including Ford, BMW and Daimler all looking to innovate in self-driving vehicles. In April, Ford said it aims to have 100 self-driving vehicles on the road by the end of 2019. Ford announced in March that it is building a new factory in Michigan to focus on its self-driving vehicle efforts.

BMW and Daimler also said in February that they are collaborating to develop automated driving technologies.


Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: ashley turner
Keywords: news, cnbc, companies, company, robotic, technology, 100, invest, ai, toyota, autonomous, fund, selfdriving, vehicle, startups, million


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The oil-reliant United Arab Emirates is betting big on tech start-ups and A.I.

The United Arab Emirates (UAE) is furthering its push into technology and artificial intelligence, in a bid to future-proof its oil, trade and tourism-dependent economy. “We’re looking global,” Mahmoud Adi, the head of Hub71, told CNBC’s “Capital Connection ” Thursday. “We believe that Abu Dhabi can offer access to capital, access to ease of doing business, and we are extremely glad that yesterday we saw that the cabinet announced five-year visas,” he added. The UAE has put in place significant


The United Arab Emirates (UAE) is furthering its push into technology and artificial intelligence, in a bid to future-proof its oil, trade and tourism-dependent economy. “We’re looking global,” Mahmoud Adi, the head of Hub71, told CNBC’s “Capital Connection ” Thursday. “We believe that Abu Dhabi can offer access to capital, access to ease of doing business, and we are extremely glad that yesterday we saw that the cabinet announced five-year visas,” he added. The UAE has put in place significant
The oil-reliant United Arab Emirates is betting big on tech start-ups and A.I. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: dan murphy
Keywords: news, cnbc, companies, visa, global, dhabi, big, arab, ai, emirates, technology, uae, hub71, fiveyear, abu, betting, tech, capital, oilreliant, united, startups, million


The oil-reliant United Arab Emirates is betting big on tech start-ups and A.I.

The United Arab Emirates (UAE) is furthering its push into technology and artificial intelligence, in a bid to future-proof its oil, trade and tourism-dependent economy.

In the capital of Abu Dhabi where about 90% of central government revenue comes from the hydrocarbon sector, authorities have launched Hub 71 — a 1 billion dirham ($272 million) scheme driven by state investor Mubadala and supported by the Abu Dhabi government to attract and develop technology start-ups.

“We’re looking global,” Mahmoud Adi, the head of Hub71, told CNBC’s “Capital Connection ” Thursday. “We believe that Abu Dhabi can offer access to capital, access to ease of doing business, and we are extremely glad that yesterday we saw that the cabinet announced five-year visas,” he added.

The UAE has put in place significant adjustments to its long-term visa system, which includes a 10-year residency visa for investors and specialists, and a five-year visa for exceptional students and entrepreneurs.

The new Hub71 program will be based at the Abu Dhabi Global Market site and will involve the launch of a 500 million dirham fund to invest in technology start-ups. It aims to attract 100 companies over the next three to five years by offering incentives such as housing, office space and health insurance.

“Hub71 will bring together three key factors essential for the success of Abu Dhabi’s tech ecosystem — capital providers, business enablers and strategic partners, all under one roof,” Mubadala’s Deputy Group CEO Waleed Al Muhairi said in a statement.


Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: dan murphy
Keywords: news, cnbc, companies, visa, global, dhabi, big, arab, ai, emirates, technology, uae, hub71, fiveyear, abu, betting, tech, capital, oilreliant, united, startups, million


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Toyota to invest $100 million in self-driving and robotic technology start-ups

Toyota is creating a $100 million venture fund to invest in autonomous driving and robotic technology start-ups as automakers increasingly push into the self-driving market, the company announced Thursday. Toyota AI Ventures, a Silicon Valley-based subsidiary of Toyota, plans to invest the money into early-stage startups that are developing “disruptive” technologies in those fields, the company said. Pratt added the fund will help “bridge the gap” between automakers and technology start-ups focu


Toyota is creating a $100 million venture fund to invest in autonomous driving and robotic technology start-ups as automakers increasingly push into the self-driving market, the company announced Thursday. Toyota AI Ventures, a Silicon Valley-based subsidiary of Toyota, plans to invest the money into early-stage startups that are developing “disruptive” technologies in those fields, the company said. Pratt added the fund will help “bridge the gap” between automakers and technology start-ups focu
Toyota to invest $100 million in self-driving and robotic technology start-ups Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: ashley turner
Keywords: news, cnbc, companies, selfdriving, 100, technology, toyota, startups, fund, company, ai, million, robotic, vehicle, autonomous, invest


Toyota to invest $100 million in self-driving and robotic technology start-ups

Toyota is creating a $100 million venture fund to invest in autonomous driving and robotic technology start-ups as automakers increasingly push into the self-driving market, the company announced Thursday.

Toyota AI Ventures, a Silicon Valley-based subsidiary of Toyota, plans to invest the money into early-stage startups that are developing “disruptive” technologies in those fields, the company said.

“Auto manufacturers must participate in the startup ecosystem to stay ahead of the rapid shift in the auto industry,” Jim Adler, managing director of Toyota AI Ventures, said in a statement.

The company said the fund is part of Toyota’s mission to help “discover what’s next” for Japan’s biggest automaker. Toyota’s AI venture fund has already invested in 19 different start-ups over the last two years, bringing its total funding commitment to autonomous driving technology to $200 million, the company said.

“The growing interest in automated systems has created great opportunities to improve human lives using AI and next-generation mobility technology,” Dr. Gill Pratt, chief executive officer at the Toyota Research Institute, said in a statement. Pratt added the fund will help “bridge the gap” between automakers and technology start-ups focused on autonomous transportation.

This is just the most recent investment Toyota is making in the autonomous vehicle market. In April, Toyota and auto-parts supplier Denso said they would together invest $667 million into Uber’s self-driving vehicle unit. Toyota also committed to contributing an additional $300 million to Uber’s push into self-driving vehicles over the next three years.

At the 2018 Consumer Electronics Show, Toyota also unveiled a self-driving concept food-delivery vehicle called the e-Pallette. The e-Pallette was part of a partnership with Amazon to help Amazon explore ways to use self-driving cars for food delivery.

Entering the autonomous vehicle market has been a goal for many automakers, with companies including Ford, BMW and Daimler all looking to innovate in self-driving vehicles. In April, Ford said it aims to have 100 self-driving vehicles on the road by the end of 2019. Ford announced in March that it is building a new factory in Michigan to focus on its self-driving vehicle efforts.

BMW and Daimler also said in February that they are collaborating to develop automated driving technologies.


Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: ashley turner
Keywords: news, cnbc, companies, selfdriving, 100, technology, toyota, startups, fund, company, ai, million, robotic, vehicle, autonomous, invest


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Pitching Pitbull: The start-ups hitting Miami Beach for a chance to woo the superstar

Pitbull at the eMerge Americas conference in Miami on June 12, 2017. Start-ups based in the greater Miami area snagged three quarters of the state’s total venture capital take and more than half of all deals made, according to a 2018 year-end report published by eMerge Americas. This week it’s eMerge Americas conference, a two-day technology summit that brings together start-ups, government leaders and global enterprises. “Over the last six years, eMerge Americas has served as a catalyst in orde


Pitbull at the eMerge Americas conference in Miami on June 12, 2017. Start-ups based in the greater Miami area snagged three quarters of the state’s total venture capital take and more than half of all deals made, according to a 2018 year-end report published by eMerge Americas. This week it’s eMerge Americas conference, a two-day technology summit that brings together start-ups, government leaders and global enterprises. “Over the last six years, eMerge Americas has served as a catalyst in orde
Pitching Pitbull: The start-ups hitting Miami Beach for a chance to woo the superstar Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: riley de leon
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Pitching Pitbull: The start-ups hitting Miami Beach for a chance to woo the superstar

Pitbull at the eMerge Americas conference in Miami on June 12, 2017. David A. Grogan | CNBC

While Silicon Valley remains the world’s leading hub for tech start-ups and entrepreneurial energy, South Florida is cultivating a new generation of innovators. Miami has become a hotbed of entrepreneurial activity. Last year alone saw $1.38 billion invested in South Florida start-ups. Start-ups based in the greater Miami area snagged three quarters of the state’s total venture capital take and more than half of all deals made, according to a 2018 year-end report published by eMerge Americas. This week it’s eMerge Americas conference, a two-day technology summit that brings together start-ups, government leaders and global enterprises. The conference, which dates back to 2012, connects talent from North America, Latin America and Europe, with the goal of infusing capital into technology-driven start-ups outside the Silicon Valley area. “Over the last six years, eMerge Americas has served as a catalyst in order to propel innovation and investment in the region,” said eMerge president Melissa Medina. “When we first launched, we did not have much interest from investors, but I can tell you firsthand that this is no longer the case — we now have investors from all over the world connecting with us and the start-ups in our showcase.” More than 100 young companies will convene onstage to pitch their business ideas in front of thousands and grab the attention of investors who can take their start-up to the next level. One of those investors is no stranger to the streets of Miami: Armando “Pitbull” Christian Perez, the Grammy award-winning artist, entrepreneur and a partner to the conference. Perez will judge the Startup Showcase Finale alongside Alex Estevez, a partner at Accel Ventures, and Jack Selby, managing director at Clarium Capital Management. For the first time this year, eMerge Americas also is launching an investor-matchmaking platform for accredited investors to directly engage and set up individual meetings with the start-up founders. Some of the world’s biggest venture investors are at eMerge, including Paulo Passoni, who was recently appointed managing investment director of SoftBank International following the launch of the SoftBank Innovation Fund, an unprecedented $5 billion investment in new Latin American tech firms. Here are a few of the start-ups competing at eMerge Americas this year.

Aeriu

Steve Proehl | Corbis Documentary | Getty Images

Founder: Gergely Ellenrieder (CEO) Year founded: 2017 Headquarters: Budapest, Hungary The Amazon era has brought with it an unprecedented and sustained e-commerce boom. Though it’s been a looming threat to some of the biggest retailers that are trying to grow their business online, the internet giant has left an equally if not bigger footprint offline, in the logistics sector. According to a CBRE survey, the average age of a U.S. warehouse is 34 years, meaning that many lack modern upgrades as the demand for industrial real estate continues to skyrocket. Add in Amazon’s recent announcement to make free one-day shipping the default for Prime members and inventory efficiency becomes a heightened priority for companies that dare to compete. Aeriu is a Hungarian start-up mobilizing drones to rethink the way companies manage their inventory. “Human error and inefficiency is something that Aeriu is working to remove entirely,” says CEO Gergely Ellenrieder. While autonomous flight and drone technology continue to face a variety of regulatory hurdles, Aeriu has sidestepped the use of specialized aircraft and instead embraces commercial drones to collect data in the cloud and automate its measurement in-house. The start-up’s approach has caught the attention of a company that’s arguably known best for its massive stores and endless aisles of inventory: Ikea. The Swedish retailer began using Aeriu software in the Soroksár store in Budapest earlier this year, putting the technology on trial for customers seeking real-time information about a product’s availability.

EveryMundo

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Founders: Anton Diego (CEO), Seth Cassel (President) Year founded: 2006 Headquarters: Miami Over the past two decades, airlines have spent tons of time and resources attempting to catch up to the top online travel agencies in an exceedingly saturated industry. That’s where EveryMundo comes in. The start-up is a tried and true software company that has developed software products to help airlines compete online. EveryMundo works with over 40 airlines, in 30-plus languages and has a presence in more than 120 countries. “EveryMundo’s technology empowers airline customers to find the best fares on the right days of travel,” said Seth Cassel, president of EveryMundo, to CNBC. “However, EveryMundo’s greatest benefit to the airlines may be the change in mindset we are inducing among airlines’ digital executives to view their digital presence as a series of products rather than projects.” According to Cassel, airlines have overbudgeted on projects that are partially obsolete upon launch or end up failing entirely. “EveryMundo breaks that cycle by offering airlines digital products living on the EveryMundo platform that accomplish their digital-user experience goals,” Cassel said. “And EveryMundo takes responsibility for the launch, maintenance and innovation of these user-experience technologies.”

GoGig

Student borrower looks for a job. Jonathan Alcorn | Bloomberg | Getty Images

Founder: Chris Hodges (CEO) Year founded: 2016 Headquarters: Fort Lauderdale, Florida Finding a new job can be a never-ending headache. In fact, reports have suggested that it takes one month to find a job for every $10,000 of a paycheck an individual would like to earn. So in theory, a search for a $60,000 paying job could take six months. Anonymous job search platform GoGig is looking to speed up that search. “At GoGig we are providing currently employed and actively seeking professionals a new way to network based on their career desires without revealing their identity,” said Chris Hodges, founder and CEO of GoGig in a LinkedIn post. The start-up uses AI and algorithms to match users with hiring companies based upon education, employment history, expectations for one’s next career move, personality and location. The candidates are displayed to hiring managers in order of match percentages.

Lula

The Babson World Globe at Babson College David L. Ryan | The Boston Globe | Getty Images

Founders: Matthew Vega-Sanz (CEO), Michael Vega-Sanz (President) Year founded: 2016 Headquarters: Boston Credit Karma estimates that Americans spend just over $4,000 a year personally on Uber and Lyft rides. This figure is based on an average Lyft and Uber ride charge of about $22 and assuming three to four trips per week — an assumption based on data from the U.S. Department of Transportation’s National Household Travel Survey and American Automobile Association’s American Driving Survey. For some college students, that’s almost an entire semester of courses, which is the realization that Matthew Vega-Sanz and his twin brother Michael had during their time at Babson College. Lula was born out of a late-night pizza run and evolved into an idea that’s reached more than 350 campuses across the country. Lula is a free app that allows college students to rent out each other’s cars. Unlike traditional ride-share services, which pick riders up within minutes, Lula users have to plan their rentals in advance for as little as $5 an hour or $30 a day. “Babson is in a secluded area, and we didn’t have many options,” said Michael Vega-Sanz. “We said, ‘Let’s take an Uber,’ but it was going to be $30 to pick up an $8 pizza. As two broke college students without access to a car, we realized then that college students have been neglected by transportation companies.” For students looking to pay down their student loans, the Vega-Sanz twins claim that users on the peer-to-peer platform can make up to $250 a month. After recently closing on $620,000 in funding, the start-up is in the midst of another fundraising campaign, with the goal of providing access to cars, bikes, scooters and any other form of transportation that makes pizza cravings just a bit more affordable.

Unima

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Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: riley de leon
Keywords: news, cnbc, companies, miami, pitbull, beach, everymundo, hitting, superstar, startup, college, chance, vegasanz, investors, woo, airlines, pitching, ceo, americas, startups, emerge


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Venture fund 500 Startups says there are four new ‘tigers’ for mobile payments

We can no longer invest in on-demand, ride-sharing apps: 500 Startups 4:05 AM ET Tue, 9 April 2019 | 02:27As the current crop of tech unicorns — or start-ups valued at more than $1 billion — go public, venture fund 500 Startups is looking toward new frontiers for the next wave of innovation. “I think it is a really exciting time being in Silicon Valley and at the same time for us, as an early stage investor, it’s great to see,” Edith Yeung, partner and head of China at 500 Startups, told CNBC’s


We can no longer invest in on-demand, ride-sharing apps: 500 Startups 4:05 AM ET Tue, 9 April 2019 | 02:27As the current crop of tech unicorns — or start-ups valued at more than $1 billion — go public, venture fund 500 Startups is looking toward new frontiers for the next wave of innovation. “I think it is a really exciting time being in Silicon Valley and at the same time for us, as an early stage investor, it’s great to see,” Edith Yeung, partner and head of China at 500 Startups, told CNBC’s
Venture fund 500 Startups says there are four new ‘tigers’ for mobile payments Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-10  Authors: eustance huang
Keywords: news, cnbc, companies, looking, work, venture, really, wait, payments, wave, fund, early, yeung, startups, mobile, 500, investor, tigers


Venture fund 500 Startups says there are four new 'tigers' for mobile payments

We can no longer invest in on-demand, ride-sharing apps: 500 Startups 4:05 AM ET Tue, 9 April 2019 | 02:27

As the current crop of tech unicorns — or start-ups valued at more than $1 billion — go public, venture fund 500 Startups is looking toward new frontiers for the next wave of innovation.

“I think it is a really exciting time being in Silicon Valley and at the same time for us, as an early stage investor, it’s great to see,” Edith Yeung, partner and head of China at 500 Startups, told CNBC’s “Squawk Box” on Tuesday.

“You literally have to wait at least 10 years to get to this point that you finally have … some sort of exit, but it’s really a sign for us that we need to get back to work and discover the next wave,” she said.

Yeung said her company, an early investor in Southeast Asian ride-hailing giant Grab, is looking at investments that “truly add value.”


Company: cnbc, Activity: cnbc, Date: 2019-04-10  Authors: eustance huang
Keywords: news, cnbc, companies, looking, work, venture, really, wait, payments, wave, fund, early, yeung, startups, mobile, 500, investor, tigers


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Venture fund 500 Startups says there are four new ‘tigers’ for mobile payments

We can no longer invest in on-demand, ride-sharing apps: 500 Startups 4:05 AM ET Tue, 9 April 2019 | 02:27As the current crop of tech unicorns — or start-ups valued at more than $1 billion — go public, venture fund 500 Startups is looking toward new frontiers for the next wave of innovation. “I think it is a really exciting time being in Silicon Valley and at the same time for us, as an early stage investor, it’s great to see,” Edith Yeung, partner and head of China at 500 Startups, told CNBC’s


We can no longer invest in on-demand, ride-sharing apps: 500 Startups 4:05 AM ET Tue, 9 April 2019 | 02:27As the current crop of tech unicorns — or start-ups valued at more than $1 billion — go public, venture fund 500 Startups is looking toward new frontiers for the next wave of innovation. “I think it is a really exciting time being in Silicon Valley and at the same time for us, as an early stage investor, it’s great to see,” Edith Yeung, partner and head of China at 500 Startups, told CNBC’s
Venture fund 500 Startups says there are four new ‘tigers’ for mobile payments Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-10  Authors: eustance huang
Keywords: news, cnbc, companies, looking, work, venture, really, wait, payments, wave, fund, early, yeung, startups, mobile, 500, investor, tigers


Venture fund 500 Startups says there are four new 'tigers' for mobile payments

We can no longer invest in on-demand, ride-sharing apps: 500 Startups 4:05 AM ET Tue, 9 April 2019 | 02:27

As the current crop of tech unicorns — or start-ups valued at more than $1 billion — go public, venture fund 500 Startups is looking toward new frontiers for the next wave of innovation.

“I think it is a really exciting time being in Silicon Valley and at the same time for us, as an early stage investor, it’s great to see,” Edith Yeung, partner and head of China at 500 Startups, told CNBC’s “Squawk Box” on Tuesday.

“You literally have to wait at least 10 years to get to this point that you finally have … some sort of exit, but it’s really a sign for us that we need to get back to work and discover the next wave,” she said.

Yeung said her company, an early investor in Southeast Asian ride-hailing giant Grab, is looking at investments that “truly add value.”


Company: cnbc, Activity: cnbc, Date: 2019-04-10  Authors: eustance huang
Keywords: news, cnbc, companies, looking, work, venture, really, wait, payments, wave, fund, early, yeung, startups, mobile, 500, investor, tigers


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San Francisco has rising competition when it comes to big fintech startups

According to Innovate Finance, the U.K. is a world leader when it comes to securing VC investment in fintech, ranking third globally behind China and the United States. Earlier this year, SoftBank led a $440 million investment in OakNorth, which increased the fintech firm’s value to $2.8 billion. Fintech’s growth is impacting the U.K.’s traditional banking sector, the report also noted, with their core revenue streams coming under attack. “It is only now, with the rise of the fintech unicorns, t


According to Innovate Finance, the U.K. is a world leader when it comes to securing VC investment in fintech, ranking third globally behind China and the United States. Earlier this year, SoftBank led a $440 million investment in OakNorth, which increased the fintech firm’s value to $2.8 billion. Fintech’s growth is impacting the U.K.’s traditional banking sector, the report also noted, with their core revenue streams coming under attack. “It is only now, with the rise of the fintech unicorns, t
San Francisco has rising competition when it comes to big fintech startups Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: chloe taylor, alexander spatari, moment, getty images
Keywords: news, cnbc, companies, fintech, oaknorth, francisco, world, sector, rising, million, investment, big, report, san, growth, startups, comes, yearonyear, competition, banking


San Francisco has rising competition when it comes to big fintech startups

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According to Innovate Finance, the U.K. is a world leader when it comes to securing VC investment in fintech, ranking third globally behind China and the United States. Global VC investment in fintech last year reached a record $36.6 billion, Innovate Finance’s data shows, which was secured across 2,304 deals — a 148% year-on-year increase.

London’s top fintech unicorns include Revolut, TransferWise, and OakNorth. The report flagged challenger bank OakNorth as one to watch, noting the company’s “phenomenal” income growth from £77.1 million ($100.81 million) to £177.6 million in just 12 months — a year-on-year revenue increase of 268%.

Earlier this year, SoftBank led a $440 million investment in OakNorth, which increased the fintech firm’s value to $2.8 billion.

Elsewhere in the sector, Monzo is reportedly close to securing $130 million from a U.S. investor that would double its value to £2 billion.

Fintech’s growth is impacting the U.K.’s traditional banking sector, the report also noted, with their core revenue streams coming under attack.

“The rise of smartphones and 4G means that increasingly, digital banking is an option, significantly reducing the barriers to entry for new entrants,” the report’s authors said. “It is only now, with the rise of the fintech unicorns, that the banking sector has woken up and started to adapt to the new paradigm.”

It predicted that by 2020, more than half of U.K. payment service providers would be digital-only.

“For millennials who grew up with mobile devices (fintech) is particularly appealing because they want to conduct financial transactions the same way they would share pictures or apply for a job,” James Murray, director of financial services at Robert Walters, said in the report.

“The pace of change has been so rapid over the past decade that the perception of digital banking has shifted from an option to a requirement,” he added.

However, the report warned that Brexit could create barriers to fintech growth rates, as any hard-border scenario could shrink the U.K.’s talent pool.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: chloe taylor, alexander spatari, moment, getty images
Keywords: news, cnbc, companies, fintech, oaknorth, francisco, world, sector, rising, million, investment, big, report, san, growth, startups, comes, yearonyear, competition, banking


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