Here is Read Magazine’s Weekly Roundup of the top news from global markets. In this fast-paced world, breaking down information helps readers grasp the nuances that follow the news.
In Aerospace news this week…
Cyberhawk Unveils AVIATE: Advisory Program for UAS Inspections
Cyberhawk, a global leader in drone-based inspection and survey services and visual data management software, is pleased to announce the launch of AVIATE (Accelerated Visual Integration and Technology Enabler), a groundbreaking service designed to assist organizations in starting or scaling their unmanned aerial system (UAS) programs.
In Agritech news this week…
Switch Bioworks Secures $17M to Launch Innovative Biological Fertilizer
Switch Bioworks, a biotechnology company developing low-cost and sustainable fertilizers, announced it raised $17 million in Series Seed financing led by Change Forces Capital and joined by Grantham Foundation, Astanor Ventures, Acre Venture Partners, Anthos Capital, Thia Ventures, Emerson Collective, as well as the farmer-led Ag Ventures Alliance and others.
In Automotive news this week…
Nuro Enhances Autonomous Tech with New Business Model
Nuro, a pioneer and leader in autonomous technology, announced the expansion of its business model to include licensing its advanced AI-driven autonomy platform, the Nuro Driver™, to automotive OEMs and mobility providers. For the first time, the Nuro Driver will enable up to Level 4 (L4) passenger vehicles, as well as goods delivery. This strategic move leverages Nuro’s years of successful autonomous vehicle deployments to accelerate the adoption of autonomous technology across the transportation industry.
In BFSI news this week…
Protege Raises $10 Million and Launches Platform for AI Training Data
Protege announced a $10 million seed round and the launch of its AI training data platform to help resolve one of the biggest issues in AI development — sharing and accessing the right training data. The round was led by CRV with participation from SV Angel, Liquid 2 Ventures, Bloomberg Beta, Flex Capital, Adam D’Angelo, Travis May, and more.
In Biotech this week…
Scientist.com and Evotec Partner to Accelerate Drug Discovery
Scientist.com, the leading research platform for the pharmaceutical industry, has announced a new partnership with Evotec SE, a leading drug discovery and development company. Through this collaboration, Evotec’s comprehensive suite of R&D services, spanning the entire drug discovery and development process, will now be available to registered users on Scientist.com’s award-winning digital marketplace.
Polyplastics Unveils Biomass-Balanced LCP for Reduced CO2
Polyplastics Co., Ltd., a global leader in engineering plastics, has announced the launch of LAPEROS (R) bG-LCP, a sustainable solution based on biomass-derived materials (mass balance approach) which reduces CO2 emissions and improves the renewable content ratio. The introduction expands the company’s DURACIRCLE (R) initiative which already includes DURACON (R) bG-POM.
In Defence Technology news this week…
Teledyne e2v HiRel & Flip Electronics Partner Strategically
Teledyne e2v HiRel Electronics, a leading provider of high-reliability semiconductor solutions, announced a new partnership with Flip Electronics, a prominent distributor based in Alpharetta, Georgia. Under the new agreement, Flip Electronics will maintain substantial inventories of Teledyne e2v HiRel’s semiconductor wafers for military applications, ensuring a consistent and reliable supply of critical components.
In Energy, Power and Sustainability news this week…
Oracle Energy & Water Data: Unifying Data and Accelerating AI for Utilities
Oracle CloudWorld — Oracle announced the availability of Oracle Energy and Water Data Intelligence, a data unification, analytics, and AI solution designed for utilities. The solution extends the value of Oracle’s applications by orchestrating the integration of data between Oracle and third-party sources to give utilities a comprehensive view of their operations for powerful analysis and reporting.
In Food & Beverage this week…
TouchBistro Unveils Inventory & Labor Management Software
TouchBistro announced the launch of its Inventory Management and Labor Management solutions for restaurant operators, following its acquisition of restaurant management software, Peachworks. The announcement marks another step in TouchBistro’s commitment to restaurants and its dedication to continuously innovate and address the industry’s evolving needs.
In Healthcare this week…
OrsoBio Secures $67M Series B for Mitochondrial Obesity Treatments
OrsoBio, Inc, a clinical-stage biopharmaceutical company developing treatments for obesity and obesity-associated disorders, announced the close of an oversubscribed $67 million Series B financing. The financing was co-led by new investors Ascenta Capital and Woodline Partners LP, with significant participation from existing investors Samsara Biocapital, Longitude Capital, Enavate Sciences, NuevaBio, and Eli Lilly and Company.
In Information Technology this week…
Cerebras Signs MoU with Aramco to Boosts AI Deployment
Cerebras Systems announced the signing of a Memorandum of Understanding (MoU) with Aramco, under which they aim to bring high performance AI inference to industries, universities, and enterprises in Saudi Arabia. Aramco plans to build, train, and deploy world-class large language models (LLMs) using Cerebras’ industry-leading CS-3 systems, in order to help accelerate AI innovation.
In Martech this week…
Birdeye Unveils Insights AI and Competitors AI at View 2024
Birdeye, the highest ranked AI platform for local brands, announced the launch of two AI products—Insights AI and Competitors AI— to empower local brands with generative AI insights and actionable recommendations to outperform competitors and achieve market dominance.
In Logistics and Supply Chain this week…
AutoStore Unveils New Multi-Temperature Grid Capabilities
AutoStore introduces new Grid capabilities: the AutoStore Multi-Temperature Solution, an expanded 18-Level Grid, a Motorized Service Vehicle, and enhancements to the cube control software. Building on AutoStore’s foundation of unmatched density, efficiency, and scalability, these innovations will help businesses maintain a competitive edge with their automated fulfillment solutions.
In Materials this week…
6K Secures $82M in Series E to Boost Production Expansion
6K, a leader in the sustainable production of engineered materials for lithium-ion batteries and additive manufacturing, announced that it has closed $82M as part of its Series E funding round. The capital raised was an insider-led investment with investors Anzu Partners, Energy Impact Partners, LaunchCapital, Material Impact, and Volta Energy Technologies participating to enable the company to scale up production for battery cathode active materials (CAM) and the expansion for additive manufacturing metal powders
In Madical devices this week…
SpectraWAVE Secures $50M Series B for HyperVue Expansion
SpectraWAVE, Inc, a medical imaging company focused on improving the treatment and outcomes for patients with coronary artery disease (CAD), announced a $50M Series B funding round led by Johnson & Johnson Innovation – JJDC, Inc. joined by S3 Ventures, Lumira Ventures, SV Health Investors, Deerfield Management, NovaVenture, Heartwork Capital, and undisclosed parties. The funding round will advance commercial expansion and product additions to the Company’s 510k-cleared HyperVue™ Imaging System.
In Retail this week…
Rezolve AI and SPH AG Unite to Transform Retail with AI
Rezolve AI, a global leader in artificial intelligence solutions, proudly announces a partnership with SPH AG, a leading IT and consulting company renowned for its digitalization and ERP expertise in the lifestyle, and retail sectors. This alliance is poised to redefine the future of these industries through the deployment of Rezolve’s proprietary AI technologies, including BRAiN Commerce, BRAiN Checkout, and BRAiN Assistant.
In Semiconductor & Electronics this week…
Morphotonics Secures $10M+ in Series B Funding
Morphotonics announces the launch of its Series B financing round, marking a significant endorsement of its mission to elevate global display technology. New investors 3M and BOM (Brabant Development Agency) join existing investor Innovation Industries (with BOM and Innovation Industries as co-leads) in supporting Morphotonics’ vision for the future with the first closing of a $10+ million round, and a second closing anticipated by year-end.
Article of the Week
The Role of Voice AI in Creating a Seamless Connected Car Experience
The automotive industry is going through a notable shift, largely thanks to the rise of voice AI. It’s making cars smarter, more personalized, and way more connected.
As more drivers seek to use this technology to optimize their time behind the wheel, car manufacturers must stay up with the trend and provide the most recent technology.
The push for voice AI in cars is also being driven by the demand for self-driving vehicles and new safety regulations.