Category: Enterprise
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YC-backed Four Growers builds robots to help solve greenhouse labor shortages
When Brandon Contino and co-founder Dan Chi were developing Four Growers’ produce-harvesting robots, they practically lived in a greenhouse for an entire year. They coded at a small desk tucked in the back corner and discovered that fertilizer bags can be comfortable beds. “We actually started just running everything off a laptop, and I would…
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Riding high on open source ERP, Odoo raises $527M via secondaries lifting its valuation to $5.26B
Belgium-based Odoo decided to use open-source tools as a way to attack the enterprise resource planning (ERP) software market, going up against giants like SAP. Fast forward a couple of decades and it’s now picking up €500 million in secondary investment — or around $527M at current exchange rates — led by CapitalG (Alphabet’s venture…
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Current AI scaling laws are showing diminishing returns, forcing AI labs to change course
AI labs traveling the road to super-intelligent systems are realizing they might have to take a detour. “AI scaling laws,” the methods and expectations that labs have used to increase the capabilities of their models for the last five years, are now showing signs of diminishing returns, according to several AI investors, founders, and CEOs…
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Data center monitoring firm LogicMonitor raises $800M at a $2.4B valuation
As companies’ server infrastructure grows, they often run into challenges keeping tabs on the health of their various assets, like their cloud and local data centers. Monitoring tools, also known as observability tools, can help — but lots of tools can become overwhelming. According to one survey, seven in 10 organizations believe that monitoring is…
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Converge Bio’s ‘everything store’ for biotech LLMs brings in $5.5M seed
AI is finding its way into every corner of biotech and pharmaceutical research, but like other industries, it’s never quite as straightforward to implement as one would like. Converge Bio has built a tool for companies to make their biology-focused LLMs actually work, from “enriching” their data to explaining their answers. The company has raised…
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Fintech giant Finastra confirms it’s investigating a data breach
An incident disclosure shared with Finastra’s banking and financial customers confirms a hacker stole files from a company system. © 2024 TechCrunch. All rights reserved. For personal use only. An incident disclosure shared with Finastra’s banking and financial customers confirms a hacker stole files from a company system. © 2024 TechCrunch. All rights reserved.…
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UK crashes out of global top 50 supercomputer ranking
The U.K. no longer has a supercomputer in the top 50, according to new data from the Top500 project, which ranks the 500 most powerful non-distributed computer systems globally. The country’s current national supercomputer system, Archer2, is approaching end-of-life in 2026. According to the latest figures, it’s also now sitting in 62nd place globally, down…
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Portugal’s Tekever raises $74M for dual-use drone platform deployed to Ukraine
Dual-use drone startup Tekever has raised €70 million ($74 million) to develop its product and expand into new markets, specifically the U.S.. The news is part of a trend of smaller tech-driven startups moving into markets normally dominated by large ‘defense primes’. It also shows that unmanned aerial drones are becoming far more sophisticated, in…
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OpenAI releases a teacher’s guide to ChatGPT, but some educators are skeptical
OpenAI envisions teachers using its AI-powered tools to create lesson plans and interactive tutorials for students. But some educators are wary of the technology — and its potential to go awry. Today, OpenAI released a free online course designed to help K-12 teachers learn how to bring ChatGPT, the company’s AI chatbot platform, into their…
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UK open to social media ban for kids as gov’t kicks off feasibility study
The U.K. government is not ruling out further beefing up existing online safety rules by adding an Australian-style ban on social media for under 16s technology secretary, Peter Kyle, has said. Back in the summer the government warned it may toughen laws for tech platforms in the wake of riots that were perceived to have…