Tag: firm

technology articles

Samsung’s three foldable phones for 2021 outed by research firm

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Samsung Galaxy Z Fold 2 artsy

Credit: Eric Zeman / Android Authority

  • Samsung could launch three foldable phones next year, including a budget model.
  • One of the three foldable phones is tipped to come with S-Pen support and an in-display camera.

Samsung can be expected to launch three different foldable phones next year. According to UBI Research (via The Elec), the Korean firm is preparing three types of foldable OLED panels for three foldable models, namely the Galaxy Z Flip 2, Galaxy Z Fold 3, and Galaxy Z Fold Lite.

The Galaxy Z Flip 2 will reportedly feature a 6.7-inch punch-hole display and a 3-inch external screen. If the report is to be believed, the folding main screen is the same size as that of the original Galaxy Z Flip. The outer screen is fairly larger than the 1.1-inch window on the first Flip.

The Galaxy Z Fold 3 is tipped to sport a 7-inch

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future technology

Health technology firm started by Dallas native lands $175 million investment to expand

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Austin-based health technology company Everlywell has raised $175 million to expand its digital health offerings and its workforce.

Everlywell was founded by Dallas native Julia Cheek in 2015, and the company moved to Austin in 2016.

Everlywell focuses on home health care diagnostics, including at-home tests for food sensitivity, allergies, thyroid issues, hormones and vitamins. The company also has received authorization for an at-home test kit for COVID-19.

New investors in the financing round include funds and accounts managed by BlackRock, the Chernin Group, Foresite Capital, Greenspring Associates, Lux Capital, Morningside Ventures and Portfolia, as well as existing investors Goodwater Capital, Highland Capital Partners and Next Coast Ventures.

This investment brings the total capital raised by the company to more than $250 million.

“The pandemic has shed light on the challenges of lab testing for Americans, from unknown costs to confusion and inconvenience,” Cheek said. “We’ve been empowering people with

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new technology

Health tech venture firm OTV closes new $170 million fund and expands into Asia

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OTV (formerly known as Olive Tree Ventures), an Israeli venture capital firm that focuses on digital health tech, announced it has closed a new fund totaling $170 million. The firm also launched a new office in Shanghai, China to spearhead its growth in the Asia Pacific region.

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OTV currently has a total of 11 companies in its portfolio. This year, it led rounds in telehealth platforms TytoCare and Lemonaid Health, and its other investments include genomic machine learning platform Emedgene; microscopy imaging startup Scopio; and at-home cardiac and pulmonary monitor Donisi Health. OTV has begun investing in more B and C rounds, with the goal of helping companies that already have validated products deal with regulations and other issues as they grow.

OTV focuses on digital health products that have the potential to work in different countries, make healthcare more affordable, and fill gaps in overwhelmed healthcare systems.

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technology

Data warehouse firm Snowflake reports bigger loss in first post-IPO quarterly report

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(Reuters) — Warren Buffett-backed data warehouse firm Snowflake reported a third-quarter loss on Wednesday in its first quarterly results, following a blockbuster market debut in September and sending its shares more than 5% lower after the bell.

The San Mateo, California-based company, which has 3,554 customers, raised $3.36 billion in its initial public offering after it was priced above the target range in the biggest U.S. listing so far this year.

Snowflake said product revenue, or sales from services on its platform, more than doubled to $148.5 million, accounting for 93% of total revenue in the quarter.

Founded in 2012 in San Francisco, Snowflake sells a cloud data platform that offers to consolidate a business’ data onto one platform. Cloud-based business services have seen rapid growth this year as offices around the world adapted to working remotely during the COVID-19 pandemic.

Net loss for the quarter ended October

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technology articles

Flipkart’s digital payments firm PhonePe to raise $700 million from existing investors

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NEW DELHI (Reuters) – PhonePe, the digital payments unit of Walmart’s Indian e-commerce arm Flipkart, said on Thursday it would sell a stake to existing investors for $700 million, helping it fuel growth in a crowded market that includes Google and Amazon .

FILE PHOTO: The logo of India’s e-commerce firm Flipkart is seen in this illustration picture taken January 29, 2019. REUTERS/Danish Siddiqui/Illustration

PhonePe’s fundraising, from Flipkart investors led by Walmart, will give it a valuation of $5.5 billion, the company said in a statement.

PhonePe is also using the opportunity to assert its independence from the Flipkart Group which runs a successful e-commerce business in India rivalling Amazon’s local unit.

It will have its own board of directors, which will include founder and CEO Sameer Nigam and former Flipkart boss Binny Bansal, who is no longer at the company he co-founded.

PhonePe will also have employee stock ownership

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technology

Alibaba-backed autonomous car firm AutoX starts driverless testing

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FILE PHOTO: A sign of Alibaba-backed autonomous driving startup AutoX is seen on a modified Chrysler Pacifica minivan in Shenzhen, Guangdong province, China October 31, 2020. REUTERS/Yilei Sun

BEIJING/SHANGHAI (Reuters) – Chinese autonomous vehicle startup AutoX, backed by Alibaba Group Holding Ltd, said on Thursday it has started fully driverless vehicle testing in China with Pacifica minivans from Fiat Chrysler Automobiles NV (FCA).

AutoX, which is also backed by Dongfeng Motor Group Co Ltd and SAIC Motor Corp Ltd, will have a fleet of 25 driverless vehicles in Shenzhen and five in other cities to test the technology. Automakers and technology firms are investing billions of dollars in autonomous driving, aiming to take an early lead in what many consider the future of mobility. Shenzhen-based AutoX has modified a number of vehicles from various manufacturers and tested them in Shenzhen, Shanghai, Guangzhou, Wuhan and Wuhu.

To attract deep-pocketed partners, startups

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modern technology

Access and Identity Management Firm Okta Names New CFO

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Okta Inc.,

which offers products for companies to verify identities and provide access to software applications, named a new finance chief.

The San Francisco-based technology company said Wednesday that Mike Kourey would become its new chief financial officer, effective March 8. Mr. Kourey has served on Okta’s board for the past five years, and most recently led the finances of Vlocity Inc., a cloud software firm that was acquired by

Salesforce.com Inc.

in June. He left that role on Tuesday after about a year.

Mr. Kourey is slated to succeed Okta’s current CFO Bill Losch, who plans to retire after more than seven years in the position, including during the company’s initial public offering in 2017. Mr. Losch will continue in his role until March to finalize the company’s annual report, and then stay on as an adviser through the end of April.

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science and technology

West Monroe Acquires Two Six Capital, a Data Science Firm for Private Equity

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Acquisition adds Intellio™ Predict, an AI-powered asset that projects revenue with precision to drive investments and value creation

West Monroe, a national business and technology consulting firm, today announced it has acquired Two Six Capital, a San Francisco-based, technology-enabled firm that pioneered data science for private equity.

Founded in 2013, Two Six Capital leverages proprietary technology—powered by artificial intelligence and machine learning—to advise private equity firms with one primary objective: understand and project the drivers of revenue. The company works closely with private equity deal teams, corporate boards, management teams, and operating partners across the deal lifecycle to construct financial models with precision leveraging the power of the cloud, which leads to increased speed of analysis and fewer errors for investment decisions.

The acquisition strengthens West Monroe’s position as a market leader in private equity advisory. Since 2002, West Monroe has advised on more than 3,000 transactions and executed

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new technology

SoftBank leads $113.5 mln investment in U.S. logistics tech firm Flock Freight

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OAKLAND, Dec 1 (Reuters) – Logistics technology firm Flock Freight on Tuesday said it raised $113.5 million in a funding round led by SoftBank Vision Fund 2, making it the fund’s third transportation and logistics technology investment since its launch last year.

Flock Freight’s technology uses an algorithm to help freight carriers fill up trucks with goods from different companies, ordered for direct delivery.

In that way, carriers can avoid logistic hubs where often goods are sorted and reloaded for delivery – a process prone to delays and damage, said Oren Zaslansky, chief executive officer and founder of Flock Freight.

Zaslansky said the new funds raised would be used to hire experts in operations research and applied mathematics. He said Flock Freight is able to charge at least 10% more than traditional carriers as its service cuts delays and damage.

The company, which has raised $184 million raised to date,

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technology articles

Seattle biotech firm Silverback Therapeutics sets terms for IPO, looks to raise up to $151M

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Laura Shawver, CEO of Silverback Therapeutics. (Silverback Photo)

Silverback Therapeutics plans to raise up to $151.8 million in its initial public offering, the Seattle-based company said Monday in an updated IPO filing.

The biotech firm will aim to sell 6.95 million shares at $17 to $19 per share. It would be valued at $566 million at the midpoint of the proposed stock price range.

Founded in 2016, Silverback uses a proprietary technology platform called ImmunoTAC to develop therapies that target specific areas of disease in a way designed to avoid damaging healthy tissue. Its lead product candidate, designated SBT6050, uses monoclonal antibodies to target breast, gastric and lung cancers. It’s currently in Phase 1/1b clinical trials, according to its IPO filing.

Silverback raised $210 million in venture capital over its lifetime as a private company, including an $85 million round in September, led by EcoR1 Capital; and a $78.5 million

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