World business news 06.08-12.08 2022

According to MIT researchers, Apple’s M1 chips have an ‘unpatchable’ hardware vulnerability

While performing a “Pacman attack” on Apple’s M1 chips, MIT researchers discovered a doozy in the form of a “unpatchable” hardware vulnerability that might allow attackers to get beyond the company’s last line of defenses. Apple appeared unconcerned in their response.

Charm Therapeutics, a company that uses artificial intelligence to study complex protein interactions, has raised $50 million in a Series A financing

As machine learning skills improve, the world of AI-powered drug discovery continues to expand. Simulating the delicate interplays of two interlocking molecules is one technique that appeared inconceivable just a few years ago, but it’s exactly what drug makers need to know about, and it’s exactly what Charm Therapeutics hopes to do with its DragonFold platform.

For customer assistance RPA-like solution, Luminai (previously DigitalBrain) has received a $16 million investment

DigitalBrain’s founders have quite a backstory. A couple of immigrants living in a hacker house in San Francisco paid their bills for a while by competing in and winning hackathons. They were accepted into Y Combinator’s Summer 2020 cohort with an idea for a startup called DigitalBrain, and they’ve been working on building a firm ever since.

The company’s founders were recently awarded a $16 million Series A funding round for their efforts. They also declared that they would be changing their name to Luminai while they were at it.

Maze has raised $40 million to help with software product research

Product research entails analyzing whether or not a new product idea will be successful, as well as how to best produce and market that product. In theory, it’s a simple process, but the basic definition hides the stumbling blocks that can arise. Research is typically expensive — software-as-a-service companies, for example, spend about 23% of their revenue on R&D — and there’s no assurance that it will result in a good outcome. In a recent CB Insights research, 42% of companies said “no market need” was the reason one of their products failed to acquire traction.

Papercup raises $20 million for artificial intelligence that automatically subtitles videos

Dubbing is a lucrative business, according to Verified Market Research, which estimates that film dubbing services alone would produce $3.6 billion yearly by 2027. However, it is a time-consuming and costly operation. On average, one hour of recording studio time is required for five minutes of narration; one calculator estimates that even a simple movie will cost $75 per minute.

Klar, Mexico’s largest digital bank, raises $70 million in a round lead by General Atlantic

Klar, a digital bank based in Mexico City, has raised $70 million in equity capital at a $500 million value, the company reported today.

The increase comes after a period of rapid expansion for the corporation. According to Klar co-founder and CEO Stefan Möller, the company had a “7x” growth in revenue and a 4x increase in transaction volume year over year. Klar has has recruited 1.4 million customers and originated over $100 million in loans in the last year.

Juni invests $206 million to assist e-commerce businesses better manage their finances

This year, the e-commerce market is expected to surpass $5.5 trillion in revenue, indicating not only how much customers are shopping online these days, but also how many firms are selling to them. Juni, an e-commerce-focused neobank based in Gothenburg, Sweden, announced $206 million in funding today — a $100 million Series B and another $106 million in debt — to build out an e-commerce-focused neobank designed specifically to cater to that growing group of retailers with tools to help them run their businesses.

Fruitful emerges from the shadows with $33 million in funding and an app designed to encourage good financial habits

Millions of Americans are trying to make ends meet as inflation continues to rise.

Fruitful has come out of hiding today, reporting a total of $33 million in equity capital raised over the last 18 months in a seed and Series A round. The company’s $8 million seed round was supported by Emigrant Bank, while its $25 million Series A was led by 8VC. Neither round of funding had been previously announced. The company also raised $4 million in a convertible note, which was a result of the Series A being oversubscribed.

Solana creates a $100 million investment and grant fund for web3 entrepreneurs in South Korea

Solana is the most recent person to put money into the system. According to Johnny Lee, general manager of games at Solana Labs, the Solana Ventures and Solana Foundation have established a $100 million investment and grant fund to invest in South Korean web3 firms. In South Korea, the fund will focus on gaming studios, GameFi, NFTs, and DeFi.


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