World business news 14.04-20.04

Injectsense receives a $1.7 million grant for its eye implant that is the size of a grain of rice

Injectsense, a 2014 company, has developed an ocular implant the size of a grain of rice. That device can detect intraocular pressure, which is a measurement of how much pressure is accumulating inside your eyeball. Glaucoma is a condition that damages the optic nerve and finally causes blindness. Intraocular pressure is a key risk factor for glaucoma.

Porsche has announced intentions to construct a global network of electric vehicle charging stations

The corporation intends to establish its own network of electric charging stations making EV more accesable to everyone.

Whale Dynamic, a Chinese autonomous delivery business, has received $2.5 million in funding to target the US market

Whale Dynamic, which was founded in 2018, is developing Nuro-style autonomous delivery vans that do away with the steering wheel and driver’s seat. And, like Nuro, which uses BYD to make its delivery bots, it hires a Chinese company to build its self-driving cars. The company’s name isn’t public yet because the transaction hasn’t been finalized.

Gensyn raises $6.5 million by using a token to distributed computing for AI developers

The underlying concepts of ‘deep learning,’ which evolved in the 1950s, are required for self-driving automobiles and other AI-based applications. This necessitates the development of training models based on patterns found in the human brain. This, in turn, necessitates a significant amount of computing capacity, such as TPUs (Tensor Processing Units) or GPUs (Graphics Processing Units) running for extended periods of time. Most AI developers, however, can’t afford this compute capacity, so they rent it from cloud computing platforms like AWS or Azure.

As Western sanctions tighten, tech talent departs Russia

Because of Russia’s invasion of Ukraine, millions of people have been forced to evacuate their homes, terrified for their lives. However, the war is forcing Russians to leave their homeland aswell. A number of Russian entrepreneurs and venture investors told their reasons for leaving or planning to leave their motherland. Anti-Russian sentiment and economic sanctions are likely to follow them as they try to rebuild their lives overseas.

Tesla shuts down its Shanghai Gigafactory for two days as the number of Covid cases rises in China

Tesla’s Shanghai Gigafactory has been shut down for two days due to an increase of Omicron instances in China, which has forced the authorities to tighten restrictions.

The automaker informed staff and suppliers of the shutdown on Wednesday, according to Reuters, which obtained a copy of the internal memo.

The cause for the manufacturing halt on Wednesday and Thursday was not revealed by the electric vehicle manufacturer. However, the manufacturing halt comes as Toyota and Volkswagen, the world’s two largest manufacturers, halted operations in China this week due to a local increase in COVID-19 cases and extra government limitations imposed to deal with the surge.

MGM gets acquired by Amazon for $8.5 billion

MGM’s $8.5 billion acquisition by Amazon was completed on Thursday, according to the business. Following the closing of the deal, Prime Video, Amazon’s streaming service, will gain access to over 4,000 films and 17,000 TV series.

The list includes classics such as “Fargo,” “Robocop,” and “Silence of the Lambs,” as well as the “James Bond” and “Rocky” series. The new titles will give Prime Video an advantage over competitors such as Netflix, Hulu, and HBO Max.

Yandex, the Russian search engine, has informed investors that it is searching for a media exit

Yandex, Russia’s internet behemoth, has informed investors that it is considering “strategic options” for its media assets, including the sale of its news aggregator, Yandex News, and Zen, a user-generated content suggestion and blogging “infotainment” platform.

Volta Labs has received $20 million in funding to help address a growing genomics bottleneck

Getting a human genome sequenced was a multibillion-dollar worldwide undertaking twenty years ago. For a few dollars, you can have your dog’s DNA sequenced by the end of the month. It reflects the rapidity with which genetics has pervaded our lives, but despite significant technological advancements, the lab procedure can still be a bit clumsy.

PSG Group leads a €10 million ($11 million) investment in Sesame HR

Sesame HR, a Spanish business, has announced that it has raised €10 million ($11 million) in funding. PSG, a Boston-based growth equity fund, sponsored the investment, which has collaborated with middle-market software and technology-enabled services companies to help Sesame HR speed its expansion.

PSG’s support will help strengthen Sesame’s international presence by assisting the HR tech startup in adapting its solutions to each new market, utilizing the firm’s presence and expertise across Asia, Europe, and the United States, according to the company’s statement.


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