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• Novo Nordisk, the maker of Ozempic and Wegovy, is funding a new Nvidia-powered AI supercomputer for discovering new medicines and treatments.
• The Novo Nordisk Foundation awarded Eviden a contract to build one of the world’s most powerful supercomputers named Gefion.
• The supercomputer aims to accelerate scientific discoveries in drug discovery, disease diagnosis, and treatment using AI technology.
• The supercomputer, housed in Denmark, will be available for use by researchers from both public and private sectors.

• Investment from EMERGING Fund fuels restaurant talent development at 1Huddle
• 1Huddle received a significant investment from EMERGING Fund to scale in the restaurant sector
• 1Huddle gamifies workforce development for the restaurant industry using mobile games
• The company experienced growth in the hospitality restaurant category, especially during COVID
• 1Huddle emphasizes the importance of strategic investors with domain experience in the restaurant industry

Tech Trends: EMERGING Fund Investment Boosts Restaurant Talent Development

In the realm of tech trends, the recent news of Newark-based 1Huddle securing a significant investment from Chicago-based EMERGING Fund has sparked excitement in the restaurant sector. Read more

• A new £575,000 fund called the Augment the City Challenge Fund, supported by Belfast City Council’s City Innovation Office and the Belfast Region City Deal, will launch in April 2024 to promote innovation in immersive technologies for visitor experiences.
• The competition aims to bring together innovators from creative industries and tourism organizations to explore the role of immersive technologies like augmented, virtual, and mixed reality in shaping future attractions, including Belfast Stories.

• Ethos Fund closes inaugural fund with $12 million to invest in founders bridging U.S. and Vietnamese tech ecosystems
• Yi and Shin founded Ethos Fund to bridge opportunities and startup communities between Vietnam and the United States
• The fund received capital commitments from various limited partners, including Elite Education Group and Strong Ventures
• Ethos Fund focuses on investing in “third culture founders” in the U.S.

• Singapore government introduces Sustainability Reporting Grant to aid companies in covering up to 30% of expenses for sustainability reports
• Mandatory climate-related reporting requirements to be enforced for listed and large non-listed companies aligned with ISSB standards
• Funding support of up to 30% provided to large companies by Singapore government to kickstart sustainability reporting journey
• New grants administered by EDB and EnterpriseSG aim to support large companies with annual revenues exceeding $100m
• SMEs to receive funding support covering up to 70% of costs for engaging carbon service providers and compiling sustainability reports

Singapore’s Sustainability Reporting Grant: A Game-Changer in Environmental Accountability

In a significant move towards promoting environmental accountability and sustainability, the Singaporean government has introduced a groundbreaking initiative known as the Sustainability Reporting Grant. Read more

• Engrail Therapeutics secures $157 million in funding from F-Prime Capital and other investors
• Funding will support the advancement of Engrail’s pipeline for neuropsychiatric and neurodevelopmental disorders
• Falling Adani Group stocks impact mutual fund investments
• Third-party logistics firms driving warehousing demand in India
• Amazon poised to make significant moves in India with new strategy

Engrail Therapeutics Secures $157 Million in Funding

Engrail Therapeutics, a promising biotech company focused on developing treatments for neuropsychiatric and neurodevelopmental disorders, recently announced a significant milestone in its journey. Read more

• Pentagon abruptly stops funding Shift, a $2 million tech program connecting startups and VCs with the military, dealing a blow to Silicon Valley’s defense ambitions
• In November, Silicon Valley urged Pentagon collaboration at a tech conference, emphasizing the importance of connecting with the tech industry for defense against foreign aggression
• Shift CEO Mike Slagh was surprised by the funding cut from AFWERX, leading to the program’s closure despite efforts to secure new financing
• Shift aimed to help defense tech startups transition from initial contracts to major contracts, facing challenges in scaling up without adequate support
• Despite significant venture capital investment in defense startups, government struggles to transition pilot contracts to production, hindering industry collaboration

Pentagon Kills A Key Tech Program, Dealing A Blow To Silicon Valley’s Defense Ambitions

In November, the Pentagon dealt a significant blow to Silicon Valley’s defense ambitions by abruptly deciding to stop funding Shift, a key tech program aimed at strengthening the Department of Defense’s relationship with startups and venture capitalists. Read more

• B Capital closes second Opportunities fund at $750 million, founded by Raj Ganguly and Eduardo Saverin
• Fund will make primary and secondary follow-on investments in late-stage portfolio companies in technology, healthcare, and climate tech sectors
• Falling Adani Group stocks affecting mutual fund investments, Sandeep Tandon’s contra bet under scrutiny
• Third-party logistics firms driving warehousing demand in India
• Amazon gearing up with new strategy in India, Infosys stock showing signs of recovery

Exploring B Capital’s Capital Opportunities Fund

In recent news, B Capital has successfully closed its second Opportunities fund at a whopping $750 million. Read more

• Sprih, a climate tech startup, raises $3 million funding to develop AI models focusing on climate issues and expand globally
• Led by Leo Capital, the funding will be used to expand globally on the sales front and acquire talent for AI model development
• Sprih, founded by Rohit Toshniwal, Akash Keshav, Hemant Joshi, and Ravi Singhal, offers a software tool for carbon emission management
• The startup aims to guide businesses towards carbon neutrality with its advanced SaaS platform
• Sprih plans to increase its customer base in India and expand into Europe, the US, and other countries with climate laws

Climate Tech Startup Sprih Raises $3 Mn Funding

In the realm of climate tech startups, the recent news of Sprih raising $3 million in funding has caused quite a stir. Read more

• The U.S. receives failing grades for defense modernization in a scathing report card
• The report emphasizes the need for better coordination between government, private sector, and military
• The U.S. is struggling to maintain a competitive advantage against China and other adversaries
• Lack of stable funding and appropriations dysfunction in Congress hinder defense innovation
• The report questions Congress’ commitment to scaling critical technologies due to funding issues

The U.S.

• Climate tech startup Sprih secures $3 million in funding led by Leo Capital for global expansion
• Sprih aims for 40-50 customers, including Indigo Paints and Hero MotoCorp, with a revenue target of $6-7 million
• Varaha raises $8.7 million in funding with RTP Global as the lead investor
• Falling Adani Group stocks deter mutual funds, while Sandeep Tandon’s contra bet remains uncertain
• Third-party logistics firms boost warehousing demand in India, as Amazon gears up with a new strategy

Climate Tech Startup Sprih Raises $3 Million in Funding Round Led by Leo Capital

In the world of climate tech startups, securing funding is crucial for growth and development. Read more

• Bengaluru remains a top choice for startup funding, raising 53% of total funding in February.
• Bengaluru’s success is attributed to its talent density and culture of ‘paying it forward’.
• Startup founders in Bengaluru benefit from a supportive ecosystem, government schemes, and access to venture capitalists.
• Other metros like Mumbai, Chennai, and Delhi face challenges such as high costs, hostile environments, and lack of infrastructure.

• Australia’s tech unicorn drought broken by Deputy’s billion-dollar valuation milestone after US customer investment
• Deputy, a workforce management software maker, achieves unicorn status with $37 million investment from Express Employment Professionals
• Founder Ashik Ahmed’s journey from immigrant flipping burgers to unicorn status highlighted
• Previous struggles during COVID-19 lockdown overcome as Deputy reports profitability for over 18 months
• Investment from Express provides Deputy with resources to continue business growth, expand user base, and introduce new tools for shift workers.

• The European Union is investing €67.5 million in AI businesses to prepare for the upcoming AI Act, focusing on AI innovation, regulatory sandboxes, and compliance verification.
• Europe has reached a provisional deal on the European Health Data Space (EHDS) to improve access and control over health data, but faces skepticism and concerns about potential conflicts with existing regulations.
• The European Parliament approved legislation for the European Digital Identity (EUDI) Wallet, allowing access to public and private services, but concerns arise over centralization stifling competition and innovation.

• The Greater Baltimore Committee (GBC) roundtable discussed the Tech Hub designation and Phase 2 funding
• The Baltimore region was designated a federal Tech Hub in October 2023, granting access to $10 billion in funding over five years
• The Phase 2 application focuses on Biotechnology and Artificial Intelligence, seeking $70 million in federal funding
• The proposal aims to create a sustainable workforce pipeline, establish biomanufacturing facilities, and foster innovation
• The consortium estimates the Tech Hub investment could create 32,700 direct jobs and generate $8 billion in real value-add

Understanding the GBC Roundtable Discussion on Tech Hub Funding

In a recent roundtable discussion hosted by the Greater Baltimore Committee (GBC) at Coppin State University, key figures such as U.S. Read more

• Fermentation startup Cauldron secures $9.5 million in Series A funding
• Cauldron’s technology, “hyper-fermentation,” enhances large-scale fermentation production economics for cost-effective bio-based products
• Investors in the Series A round include Horizons Ventures, Main Sequence, SOSV, and In-Q-Tel
• The funding will support the development of proof cases for hyper-fermentation technology and plans for a 500,000 litre facility
• Cauldron aims to build global plants for partners in various industries, offering significant cost reductions compared to traditional methods

Fermentation Startup Cauldron Secures $9.5 Million in Series A Funding

In the world of fermentation startups, securing funding is crucial for driving innovation and scaling operations. Read more

• Figure Tech secures $60M funding to launch Figure Markets, disrupting crypto & stock trading, validated by blockchain’s transformative potential.
• Figure Markets to revolutionize trading with decentralized custody crypto exchange and blockchain-native security marketplace.
• $60M Series A funding round led by Jump Crypto, Pantera Capital, Lightspeed Faction to support Figure Markets.
• Pantera Capital founder Dan Morehead to join Figure Markets’ board, highlighting the platform’s innovative use of MPC technology.

• Spring Budget includes £230m for police tech investment in time-saving technology
• Legal questions around facial recognition and cloud technology use by UK police may undermine funding
• Concerns raised about lack of clear rules controlling use of facial recognition technology
• Deployment of US-based cloud infrastructure raises data protection concerns for UK police
• Calls for new legislation to govern law enforcement’s use of biometrics and AI technologies

Exploring the Risks of Funding Legally Questionable Police Tech in the Spring Budget

The Spring Budget announced a significant investment of £230m in police forces to implement productivity-boosting technologies. Read more

• Chemring Group rises on EU funding; Bytes Technology Group slumps due to CEO resignation
• Currys lifts guidance and reports strong sales post-Christmas period
• Chemring receives €66.7m from EU for ammunition production; Bytes CEO resigns over undisclosed share transactions
• Bytes reports record financial year with double-digit growth in profit and revenue
• Marshalls downgrades profit outlook for 2024 due to challenging end markets

FTSE 250 Movers: Chemring Boosted by EU Funding

In the dynamic world of the stock market, the FTSE 250 index experienced some significant movements recently. Read more

• The EIC Accelerator program will deploy €285 million to fund 42 deep-tech startups, combining grants and equity investments to support innovation.
• 42 companies were selected from 1,083 proposals, highlighting the competition and quality of innovative companies seeking support across 15 countries.
• The funding aims to attract additional investors, increasing the overall investment to over three times the EIC’s investment on average.

• Baltimore Tech Hub competes for $70 million in federal funding to establish itself as a national center for artificial intelligence and biotechnology
• Baltimore region selected as one of 31 cities for federal Tech Hubs Program, aiming to create jobs and attract investments
• Consortium leading the hub unveils proposed projects to U.S. Senators and Lt. Gov. for consideration
• Baltimore seeks $70 million in federal funding with a local match of $7.7 million for five proposed projects
• Projects aim to create jobs, establish biomanufacturing plants, support entrepreneurship, and focus on AI and machine learning in health data applications

Baltimore Tech Hub Competes for $70 Million in Federal Funding

The Baltimore region, recently designated a national tech hub, is gearing up to compete for $70 million in federal funding to propel the hub’s development. Read more

• NUS allocates $20 million to boost deep tech innovation for start-ups and researchers
• Funding includes enhancements to Graduate Research Innovation Programme (Grip) and new Innovation Fellowship and Venture Awards
• DPM Heng emphasizes importance of deep tech and commercialization in Singapore’s RIE 2025 plan
• RoamAssist develops robotic guide dogs to aid visually impaired individuals with autonomous navigation
• Collaboration, innovation culture, and industry-academia pathways crucial for successful deep tech ventures

Boosting Deep Tech Innovation at NUS with $20m Funding

In a move to enhance deep tech innovation, the National University of Singapore (NUS) has allocated an additional $20 million to support start-ups and researchers in advancing their groundbreaking technologies. Read more

• Capital continues to flow to Ukrainian-staffed startups, with founders mainly being expats headquartered outside Ukraine.
• Ukraine is known for its tech-savvy workforce in IT services, a significant service export for the country.
• Ukrainian founders of venture-backed startups often have headquarters in cities like New York, London, or San Francisco.
• Despite challenges, tech work in Ukraine remains strong, with many expats settling in Europe but retaining ties to Ukraine.

• NUS Enterprise launches $7.48M fund to boost deep tech innovation and venture ecosystem in Singapore
• Fund includes Innovation Fellowship and Venture Creation Awards to support research commercialization
• GRIP program nurtures deep tech entrepreneurs with increased pre-seed funding
• Strategic collaborations with venture capital firms to provide coaching and support for start-ups
• Aim to accelerate deep tech innovation and venture creation for maximum impact

NUS Enterprise Launches $7.48M Fund to Boost Deep Tech Innovation in Singapore

NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS), recently made a significant move to advance deep tech innovation in Singapore. Read more

• Glamm Group secures $30 million in funding at flat valuation, seeks more
• Funding led by Warburg Pincus, with investments from Prosus, Bessemer India, and Accel Partners
• Good Glamm received Rs 129 crore, Rs 95 crore, Rs 12 crore, and Rs 8 crore from various investors
• No free gifts to doctors, but UCPMP is deemed ineffective
• Payments banks criticized as a flawed business model, requiring reevaluation

Glamm Group Secures $30 Million in Funding

Good news for Glamm Group as they have successfully secured $30 million in funding at a flat valuation. Read more

• Prevent Falls Technology: 4D mapping technology with sensors piloted in care homes to detect falls and alert carers.
• Whzan Guardian: UK-developed monitoring system using 4D mapping to track movement and prevent falls in homes.
• Reduction in Falls: Pilots showed a 66% decrease in falls and 97.5% reduction in ambulance calls post-fall.
• Funding and Expansion: Redbridge Integrated Care System to test technology with £1 million funding, potential national rollout.

• The U.S. government has outlined a five-year plan to utilize CHIPS Act funding for semiconductor industry development
• The plan focuses on R&D, manufacturing, education, and ecosystem development for balanced funding
• The National Strategy on Microelectronics Research aims to accelerate research advances and bridge infrastructure from research to manufacturing
• The strategy emphasizes growing and sustaining the technical workforce and creating a vibrant innovation ecosystem
• Collaboration across public and private sectors, assisting start-ups, and enhancing education are key components of the plan

Utilizing CHIPS Act Funding for R&D Advancements

The U.S. Read more

• India’s startup funding sees a continued decline as investors become more cautious and selective.
• Despite the funding challenges, India remains the fourth largest venture market globally in 2023.
• Bhubaneswar emerges as a key hub for digital loan sharks’ money mules.
• Amazon plans to unveil a new four-pronged strategy for its operations in India.
• The potential of GIFT City in India to become a financial hub like Dublin is hindered by certain factors.

• Andreessen Horowitz invests in creator-focused platform Plutus, founded in June 2021 by Karata Dasmahapatra, Shivanshu Tyagi, and Sambhav Jain
• Plutus facilitates interactions between content creators and their fans through live and casual community games
• Bhubaneswar emerges as a hub for money mules of digital loan sharks
• Amazon unveils a new four-pronged strategy for India
• Fly91 aims to chart a different course for India’s regional airlines

Plutus Creator Platform: Revolutionizing Content Creation and Fan Engagement

In a groundbreaking move, Andreessen Horowitz has recently invested in the creator-focused platform Plutus. Read more

• Offshore wind research centre receives £17.8m funding led by University of Hull, with support from Durham, Loughborough, and Sheffield universities
• Centre aims to develop future leaders in offshore wind sector through EPSRC Centre for Doctoral Training in Offshore Wind Energy Sustainability and Resilience
• Government and private sector investment of £5.8m and £12m respectively, with over 40 industry partners involved
• Focus areas include environmental impact, economics, supply chain development, automation, and offshore grid integration
• Part of £1bn-plus investment into engineering and physical sciences doctoral skills to support UK’s transition to Net Zero

Pioneering Offshore Wind Research Centre Receives £17.8m Funding

A new academic research centre dedicated to advancing offshore wind technology has been granted a substantial £17.8 million in funding, marking a significant step towards tackling the challenges faced by the offshore wind industry. Read more