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Artificial Intelligence

Mira Murati's AI Venture: $2B Seed Round Fuels Secretive Thinking Machines Lab

Thinking Machines Lab, founded by ex-OpenAI CTO Mira Murati, has secured a $2 billion seed round, valuing the six-month-old startup at $10 billion.

The round was reportedly led by Andreessen Horowitz with participation from Sarah Guo’s Conviction Partners.

Murati, who left OpenAI in September after leading development on ChatGPT and DALL-E, is joined by former OpenAI colleagues, including co-founder John Schulman.

The company's specific focus remains undisclosed, but it has attracted significant investment due to Murati's reputation and the involvement of high-profile AI researchers.

Murati was also briefly the interim CEO of OpenAI after Sam Altman's ouster in November 2023.

Transportation Technology

Revolutionizing Transportation: Waymo's Expansion, Micromobility's Resurgence, and Autonomous Vehicle Advancements

This week's transportation news highlights significant developments in autonomous vehicles, micromobility, and future flight. Waymo is expanding its robotaxi service in California and eyeing New York City, while Applied Intuition's valuation soared to $15 billion after a $600 million Series F round. The micromobility sector is experiencing a resurgence, with companies focusing on profitability and integration into public transportation. Honda launched an electric last-mile delivery vehicle, and VanMoof returned with a new e-bike. In future flight, the FAA is collaborating on an advanced air mobility roadmap, and Archer Aviation showcased its Midnight aircraft at the Paris Air Show.

Venture Capital

Venture Capital's Evolving Landscape: The Rise of Interim Liquidity and Tactical Portfolio Management

Charles Hudson of Precursor Ventures discusses the changing dynamics of seed investing, driven by LPs seeking interim liquidity amidst drying venture returns. The traditional seven-to-eight-year hold periods are under scrutiny, pushing investors to consider secondary sales and more tactical portfolio management. Hudson's analysis revealed that selling at Series B could yield significant returns, reshaping his approach to portfolio management in 2025. Smaller funds are feeling the pressure to optimize for cash returns, akin to private equity managers. The shift is also evident in LPs' demands, with some prioritizing quick returns while others prefer holding to maturity. This evolving landscape requires seed investors to adopt more sophisticated portfolio management strategies, balancing art and finance.

Startups and Funding

Startup World Recap: Acquisitions, Funding, and Future Fintech

This week's startup scene saw rapid growth for some, particularly in defense tech. Wix acquired Base44 for $80M, while Ramp's valuation jumped to $16B. Meta's deal to acquire 49% of Scale AI and OpenAI's contract with the U.S. Department of Defense were also highlights. In funding news, Applied Intuition secured $600M, Helsing closed a €600M investment, and Coralogix became a unicorn. Aspora raised $50M, Sword Health locked in $40M, and Multiplier Holdings raised $27.5M. Grifin secured $11M, and Polar raised $10M. Endeavor Catalyst is seeking to raise $300M for its fifth fund. Alexa von Tobel anticipates Fintech 3.0 with deep product reinvention.

Micromobility

Innovations Driving the Future of Micromobility in Europe

The micromobility landscape in Europe is evolving with startups focusing on sustainability and filling industry gaps. Convoy offers a clip-on cargo conversion kit for bikes, while Azora Charge is developing solar-powered charging stations for e-bikes. Fleetser operates a marketplace for buying, selling, and refurbishing shared electric bikes and scooters. Switch uses AI for fleet planning and management, and Zapp, a super app from Bosnia, integrates micromobility with other services. J2R is creating stylish electric motorcycles, and Trace Mobility provides business intelligence for bike and car-sharing operators.

Artificial Intelligence

Meta's Pursuit of AI Talent: From Sutskever's Rejection to Potential Gross Hire

Meta has been actively pursuing top AI talent, including attempts to acquire Safe Superintelligence, co-founded by Ilya Sutskever. While Sutskever declined, Meta is now in discussions to hire Safe Superintelligence's CEO, Daniel Gross.

Additionally, Meta is reportedly in talks with former GitHub CEO Nat Friedman and considering a stake in their joint venture, NFDG, which invests in AI startups. These potential hires could bolster Meta's AI superintelligence lab.

Earlier this month, Meta also announced the addition of Scale AI CEO Alexandr Wang and other executives from the data labeling startup.

Electric Vehicles

VanMoof S6: A Second Chance at E-Bike Excellence with Enhanced Design and Support

Dutch e-bike startup VanMoof returns with the S6, its first model since bankruptcy, focusing on higher-quality custom parts and a robust servicing network. Co-CEO Elliot Wertheimer emphasizes intuitive design, akin to an iPhone, avoiding off-the-shelf components.

VanMoof, acquired by e-scooter maker Lavoie, redesigned problematic components using Formula 1 expertise for reliability and co-designed batteries with Panasonic. They've established a network of 250 repair centers and 130 sales partners, focusing on European markets, with plans to launch in the U.S. by the end of 2025.

The S6 features improved tech, including a brighter Halo Ring, integrated navigation, and a cricket-like sound for alerts. Enhanced anti-theft features with a more accurate tracking system are included, and crash detection is in development. The bike offers a smoother ride with pre-tuned mechanical shifting, four pedal-assist levels, and a front-wheel motor for a natural experience.

Wertheimer highlights the company's focus on rebuilding the business, improving unit economics, logistics, and after-sales service, aiming to deliver on VanMoof's original promises with the S6.

Space Technology

Baiju Bhatt's Aetherflux Aims to Revolutionize Energy with Space-Based Solar Power

Baiju Bhatt, former CCO of Robinhood, has founded Aetherflux, a space company focused on beaming solar power from space. The company has raised $60 million and aims to launch a demonstration satellite next year. Aetherflux's approach involves using fiber lasers to convert solar power into focused light targeted at ground receivers. The initial focus is on national defense, with the Department of Defense funding the program for military applications. Bhatt envisions space-based solar power providing baseload renewable energy and has hired experts from various fields. The project has an aggressive timeline, with a demonstration satellite launch planned for next year.

Space Technology

Baiju Bhatt's Aetherflux: From Trading App to Space-Based Solar Power Revolution

Baiju Bhatt, co-founder of Robinhood, has launched Aetherflux, a space company focused on beaming solar power from space. Aetherflux has raised $60 million to develop technology using fiber lasers to convert solar power into focused light, targeting receivers on the ground. The initial focus is on national defense, with the Department of Defense funding the program to provide energy to forward bases without fuel transport. Aetherflux aims to launch a demonstration satellite next year, with plans to expand into industrial-scale renewable energy.

Bhatt's inspiration comes from his father's work at NASA and Elon Musk's multi-industry success. Aetherflux is taking a "hardware-rich" approach, building and testing components while refining designs. The company aims to provide baseload renewable energy and emergency power, potentially revolutionizing energy distribution. Aetherflux is collaborating with DARPA and aims to leverage SpaceX's Starship for commercial space access.