X Development

S32 Names Dr. Andy Conrad as General Partner

Retrieved on: 
Thursday, February 22, 2024

PALO ALTO, Calif., Feb. 22, 2024 /PRNewswire/ -- S32, a leading venture capital firm founded by Bill Maris after building Google Ventures, today proudly announced the appointment of Dr. Andy Conrad, a leader in the application of technology and advanced data science, as General Partner.

Key Points: 
  • PALO ALTO, Calif., Feb. 22, 2024 /PRNewswire/ -- S32, a leading venture capital firm founded by Bill Maris after building Google Ventures, today proudly announced the appointment of Dr. Andy Conrad, a leader in the application of technology and advanced data science, as General Partner.
  • Dr. Conrad previously held numerous senior roles at Google, having most recently founded and served as the CEO and Executive Chairman of Verily Life Sciences (previously "Google Life Sciences").
  • Before joining Google, Dr. Conrad was the Chief Scientific Officer of Laboratory Corporation of America ("LabCorp"), one of the largest clinical laboratory companies in the world.
  • "Andy is precisely who we want on our side working on behalf of our entrepreneurs and investors," said Andy Harrison, CEO and General Partner of S32.

NAVIER ANNOUNCES FIRST-OF-ITS-KIND PILOT PROGRAM TO PROVIDE HYPER-EFFICIENT, ZERO-EMISSION WATER TRANSIT SERVICE TO BAY AREA COMMUTERS, WITH STRIPE AS INAUGURAL PARTNER

Retrieved on: 
Wednesday, January 17, 2024

SAN FRANCISCO, Jan. 17, 2024 /PRNewswire/ -- Navier, the pioneering startup that is ushering in a new era of water transportation by creating and operating ultra-efficient, zero-emission maritime vessels, today announced a first-of-its-kind pilot program to provide water transit services to Bay Area commuters. Stripe, the financial infrastructure platform for businesses, will be Navier's initial partner in this program, with Navier providing water shuttle services for Stripe employees from Larkspur, California to Stripe's US headquarters in South San Francisco.

Key Points: 
  • Navier is introducing the next generation of high-speed, zero-emissions water transportation, starting in the Bay Area.
  • Bhattacharyya continued, "The pilot program with Stripe will provide a valuable case study as we explore ways to efficiently reduce employee commute times and emissions in coastal cities.
  • Transportation services under the Stripe pilot program will be operated by Navier Mobility, the company's water transit arm.
  • Navier's goal is to change the future of water travel by creating the next generation of clean, high-speed water transit.

Honor’s Co-Founder and CEO Recognized by Goldman Sachs for Entrepreneurship

Retrieved on: 
Tuesday, October 24, 2023

Goldman Sachs (NYSE:GS) recently recognized Honor’s CEO and co-founder, Seth Sternberg, as one of the Most Exceptional Entrepreneurs of 2023 at its Builders and Innovators Summit in Healdsburg, California.

Key Points: 
  • Goldman Sachs (NYSE:GS) recently recognized Honor’s CEO and co-founder, Seth Sternberg, as one of the Most Exceptional Entrepreneurs of 2023 at its Builders and Innovators Summit in Healdsburg, California.
  • Goldman Sachs selected Sternberg from leaders across multiple industries to be honored at the two-day event.
  • “I am honored to be recognized by Goldman Sachs for entrepreneurship alongside other visionary leaders,” said Seth Sternberg.
  • “We’re delighted to recognize Seth Sternberg as one of the most exceptional entrepreneurs of 2023,” said David Solomon, Chairman and CEO of Goldman Sachs.

At One Ventures Launches $375 Million Climate Tech Fund

Retrieved on: 
Wednesday, October 4, 2023

SAN FRANCISCO, Oct. 4, 2023 /PRNewswire/ -- At One Ventures, the climate tech venture capital firm founded in 2020 by Tom Chi, founding member of Google X, today announced the close of a US$375 million second fund. Like Fund I, Fund II will focus on backing early-stage startups with disruptive technologies that can improve planetary health by resetting the industries causing the most damage to the planet, such as buildings and construction, energy and transportation, and food and agriculture. 

Key Points: 
  • "It's going to take a different kind of thinking than what got us into the climate crisis to get us out.
  • "As an LP in both Fund I and Fund II, One Small Planet could not be more thrilled with the partnership with At One Ventures.
  • They are an absolute leader in climate tech, applying deep scientific and sector knowledge to help scale economically viable organizations to help solve the world's most pressing problems.
  • One Small Planet has deeply enjoyed collaborating with At One Ventures as both an LP and a co-investor," said Jack Wielebinski, Fund Operating Officer, One Small Planet.

Stability AI Announces Key Senior Hires To Support Continued Growth, Product Development & Enterprise Business Momentum

Retrieved on: 
Thursday, September 7, 2023

LONDON, Sept. 7, 2023 /PRNewswire/ -- Stability AI , a leading open generative AI company, today announced the expansion of its senior team with key industry leaders who will support the company's growth and path to commercialization.

Key Points: 
  • LONDON, Sept. 7, 2023 /PRNewswire/ -- Stability AI , a leading open generative AI company, today announced the expansion of its senior team with key industry leaders who will support the company's growth and path to commercialization.
  • New hires include sales, engineering, product and operations talent from Google, Amazon Web Services (AWS), Twitter, Uber, IBM, and other technology companies.
  • Stability AI is developing cutting-edge research in-house and across communities to bring multimodal generative AI to enterprises, small businesses, and user groups worldwide.
  • The findings will help Stability AI and the community build safer AI models, and demonstrate the importance of independent evaluation for AI safety and accountability.

In First Deployment, Ebb Carbon Uses Seawater to Capture & Store CO2

Retrieved on: 
Monday, August 21, 2023

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20230821282579/en/
    The Ebb Carbon system at the U.S. Department of Energy’s Pacific Northwest National Laboratory in Sequim Bay, Washington.
  • “Given the realities of climate change, we must act quickly to deploy solutions to remove excess CO2 from the atmosphere,” said Ben Tarbell, CEO of Ebb Carbon.
  • Once the acid is removed, the seawater can absorb additional carbon dioxide from the air and store it as bicarbonate in the water.
  • This increased acidity is the direct result of human-generated CO2 emissions over the last 200 years, and threatens marine ecosystems.

Wix Reports First Quarter 2023 Results

Retrieved on: 
Wednesday, May 17, 2023

In addition, the Company provided outlook for the second quarter and updated outlook for the full year 2023.

Key Points: 
  • In addition, the Company provided outlook for the second quarter and updated outlook for the full year 2023.
  • Please visit the Wix Investor Relations website at https://investors.wix.com/ to view the Q1'23 Shareholder Update and other materials.
  • As for anyone who bundles Wix with companies that will be negatively impacted by AI, I believe they will be wrong."
  • Total revenue in the first quarter of 2023 was $374.1 million, up 10% y/y
    Total revenue on a y/y constant currency basis was $376.4 million, up 10% y/y
    Creative Subscriptions revenue in the first quarter of 2023 was $278.1 million, up 9%  y/y
    Creative Subscriptions ARR increased to $1.13 billion as of the end of the quarter, up 9% y/y
    Business Solutions revenue in the first quarter of 2023 was $95.9 million, up 11% y/y
    Transaction revenue2 was $42.3 million, up 16% y/y
    Partners revenue3 in the first quarter of 2023 was $103.9 million, up 27% y/y
    Total bookings in the first quarter of 2023 were $414.9 million, up 6% y/y
    Total bookings on a y/y constant currency basis were $422.7 million, up 7% y/y
    Creative Subscriptions bookings in the first quarter of 2023 were $313.4 million, up 5% y/y
    Business Solutions bookings in the first quarter of 2023 were $101.5 million, up 9% y/y
    GAAP net loss in the first quarter of 2023 was $(10.4) million, or $(0.18) per share
    Non-GAAP net income in the first quarter of 2023 was $51.1 million, or $0.91 per share
    Net cash provided by operating activities for the first quarter of 2023 was $46.0 million, while capital expenditures totaled $20.9 million, leading to free cash flow of $25.0 million
    Excluding one-time cash restructuring charges and the capital expenditures and other expenses  associated with the build out of our new corporate headquarters, free cash flow for the first quarter of 2023 would have been $44.0 million, or 12% of revenue
    We continued to repurchase shares this quarter.

Nimble Welcomes Boston Dynamics Founder Marc Raibert to Its Board of Directors

Retrieved on: 
Monday, April 3, 2023

Nimble , an autonomous logistics and AI robotics company, today announced the appointment of Marc Raibert to its board of directors.

Key Points: 
  • Nimble , an autonomous logistics and AI robotics company, today announced the appointment of Marc Raibert to its board of directors.
  • “Marc is an icon in the robotics world and he has been an inspiration to me for many years.
  • We are thrilled to add his knowledge and guidance to our already impressive board," said Simon Kalouche, founder and CEO of Nimble.
  • Marc Raibert , Founder and Chairman of Boston Dynamics, Executive Director of the Boston Dynamics AI Institute, and formerly professor at MIT and Carnegie Mellon.

Nimble Launches Next-Gen Robotic 3PL Service, Working Towards a Fully Autonomous Fulfillment Network to Give eCommerce Brands Economical 2-day or Less Delivery

Retrieved on: 
Thursday, March 16, 2023

(Photo: Business Wire)

Key Points: 
  • (Photo: Business Wire)
    Building on five years of experience in robotic eCommerce fulfillment, the fresh capital will further Nimble’s goal of building a nationwide network of next-generation autonomous 3PL fulfillment centers.
  • To scale its robotic 3PL fulfillment service Nimble has assembled a team of leading executives who have scaled logistics operations at Amazon.
  • Nimble's intelligent robotic fulfillment systems will autonomously pick, pack and ship eCommerce orders while reducing warehouse size by up to 75%.
  • Our autonomous fulfillment centers and 3PL service will give brands access to state-of-the-art robotic fulfillment systems in a cost-effective way without large upfront investment,” said Nimble’s Founder and CEO Simon Kalouche.

Figure emerges from stealth and unveils Figure 01 - a humanoid robot to support supply chain on a global scale

Retrieved on: 
Thursday, March 2, 2023

SUNNYVALE, Calif., March 2, 2023 /PRNewswire/ -- Figure, an AI Robotics company, emerges from stealth today to unveil Figure 01, the world's first commercially viable general purpose humanoid robot.

Key Points: 
  • SUNNYVALE, Calif., March 2, 2023 /PRNewswire/ -- Figure, an AI Robotics company, emerges from stealth today to unveil Figure 01, the world's first commercially viable general purpose humanoid robot.
  • Figure was founded in 2022 by Brett Adcock, former Founder of Archer Aviation and Vettery, and plans to revolutionize the field of robotics.
  • "Today we're seeing unprecedented labor shortages with tens of millions of unsafe or undesirable jobs in the U.S. alone," says Adcock.
  • The Figure team completed the full-scale humanoid build in just six months and will begin testing in the coming months.