FedML raises $11.5 to combine MLOps tools with a decentralized AI compute network

July 19, 2023
Interest in AI among the enterprise continues to rise, with one recent survey finding that nearly two-thirds of companies plan to increase or maintain their spending on AI and machine learning into this year. But often, these companies are encountering blockers in deploying various forms of AI into production. A 2020 poll from Rexer Analytics […]

Google is experimenting with AI-generated background on Meet

July 19, 2023
Google is experimenting with a generative AI feature to create new backgrounds for Google Meet calls. This new test lets people type in a prompt to generate a background for the call. The feature, which was first posted by Artem Russakovsii on Twitter, is part of Google Workspace Labs. That means only a few people […]

UK provisionally approves Broadcom’s $69B VMware acquisition

July 19, 2023
The U.K.’s competition authority has said that it plans to greenlight Broadcom’s $69 billion bid for virtualization software giant VMware. The news comes exactly a week after the European Commission (EC) approved the deal, which pretty much leaves the U.S. as the last remaining hurdle for Broadcom, with the Federal Trade Commission (FTC) currently investigating the […]

Spotting Chinese state media social accounts continues to be a challenge

July 19, 2023
This story first appeared in China Report, MIT Technology Review’s newsletter about technology developments in China. Sign up to receive it in your inbox every Tuesday. It’s no secret that Chinese state-owned media are active on Western social platforms, but sometimes they take a covert approach and distance themselves from China, perhaps to reach more unsuspecting audiences. …

Nigeria’s MyCover.ai to scale its open insurance API platform with new funding

July 19, 2023
Africa’s insurance market is expected to grow at a compound annual growth rate (CAGR) of 7% between 2022 and 2028, reaching $120 billion. Though seemingly impressive, the insurance industry in Africa could be worth more if insurance penetration on the continent wasn’t extremely low, less than 3%, according to reports. As a result, traditional insurers […]

Reliance-backed Dunzo defers staff pay amid funding search

July 19, 2023
Dunzo, a hyperlocal delivery startup in India, is postponing employee salaries for a month and intends to settle remaining dues from the previous month also in September as Google and Reliance Retail-backed startup hunts for new funding. The Bengaluru-headquartered startup told employees Wednesday that it will not be able to pay the remainder of their […]

Neura Robotics picks up $55M to ramp up in cognitive robotics

July 19, 2023
Neura Robotics, a German startup that since 2019 has been building cognitive robots — machines that possess memory, the ability to operate across a complex and changing mix of variables, and can collaborate with people (“cobots” as Neura calls them) — has raised $55 million. It plans to use the funding to fuel more R&D […]

Korean fashion platform Musinsa bags $190M Series C led by KKR at a $2.7B valuation

July 19, 2023
Musinsa, a Seoul-based fashion marketplace, said Wednesday it has raised a $190 million round of Series C funding led by KKR, with participation from Wellington Management.  The new capital put Musinsa’s valuation at approximately $2.76 billion (more than 3 trillion won), per sources familiar with the situation. The Korean fashion e-commerce startup declined to provide […]