IBM’s quarterly success owed to the intervention of Red Hat

VujaDE on July 21, 2023

IBM’s Acquisition of Apptio Becoming More Crucial for Future Success


Ron Miller

Alex Wilhelm

7 hours

IBM released its earnings report this week, and to be honest, the results were not very impressive. The company generated approximately $15.5 billion in revenue, a disappointing 0.4% decrease compared to the previous year. However, even within this underwhelming report, there were some positive aspects for the renowned tech giant.

On the downside, IBM’s infrastructure business is struggling, with a 14.6% decrease in revenue to $3.6 billion compared to the previous year. This includes a 30% decline in IBM Z Systems, the company’s mainframe business. Since Z Systems has been a reliable source of revenue for the company in the past, its poor performance is concerning.

On the bright side, software revenues increased by 7.2% in IBM’s most recent quarter to $6.6 billion, with Red Hat leading the way with an 11% growth. This showcases the improving performance of IBM’s $34 billion acquisition of Red Hat in 2018. One could argue that without Red Hat, IBM’s situation would be much worse.

CEO Arvind Krishna has been striving for modest growth for the company, but IBM failed to achieve even that in the second quarter.

Nevertheless, as IBM continues to focus on its hybrid cloud strategy, where its objective is to be a trusted partner in managing infrastructure regardless of its location, there are a few promising indicators for the future. This includes an anticipated revenue growth of 3 to 5% at constant currency rates, as well as an expected $10.5 billion in free cash flow for this quarter, a $1 billion increase from the previous year.

Several divisions within IBM are contributing to its modest growth trajectory. Apart from rising software revenues, the consulting division reported a 4.3% increase in revenue compared to the previous year, reaching $5 billion. These professionals help large companies with managing their hybrid cloud implementations, among other services.

Recently, IBM made a significant acquisition by purchasing Apptio for $4.6 billion. Apptio specializes in software that aids in understanding resource allocation, whether on-premises or in the cloud. Although this deal is expected to close later this year, it has the potential to generate additional revenue from the hybrid cloud approach. It could also bolster IBM’s year-over-year comparisons in the future.

What about AI?

IBM also considers AI to be intrinsically linked to its hybrid strategy. In May, the company introduced a refreshed version of Watson, an artificial intelligence platform called Watsonx that takes advantage of the latest generation of large language models. While IBM may have missed opportunities with its initial launch of Watson in 2011, which gained fame through its victory in “Jeopardy,” the company is now hoping to capitalize on the renewed interest in AI.

Knife Capital leads $21M Series B funding round as Kasha expands health access platform across Africa

VujaDE on July 21, 2023

As Africa experiences a significant increase in its young population, it is crucial for entrepreneurs to develop healthcare solutions that meet the medical needs of the continent’s future. While the private healthcare sector in Africa gained attention during the pandemic, women’s health, specifically addressing menstrual and reproductive health, has been overlooked. However, looking at other emerging markets, it is only a matter of time before this category receives the venture capital funding it deserves. The recent $21 million Series B investment in Rwandan startup Kasha is evidence of this.

Kasha, founded in 2016 by CEO Joanna Bichsel, is not your typical women’s health startup. It operates as an e-commerce platform that serves a wide range of customers but has a focus on women’s health and household items. The platform provides a digital retail and last-mile distribution service for pharmaceuticals and fast-moving consumer goods (FMCGs), allowing customers to order products like sanitary pads, contraceptives, diapers, and cleaning supplies. Its customers include individuals, small resellers, hospitals, pharmacies, and clinics.

Initially targeting the Rwandan market with a direct-to-consumer model, Kasha expanded into wholesale after obtaining the necessary pharmaceutical license to serve pharmacies, hospitals, and clinics. The startup covers a range of health needs, including newborn and maternal health, menstrual hygiene, family planning, sexual and reproductive health, and noncommunicable diseases. It aims to provide a variety of products to cater to the stigmatized health needs of women.

In terms of funding, Kasha raised $1.5 million in seed funding and secured a $3.6 million Series A from investors after expanding into Kenya. The recent Series B round was led by Knife Capital and saw participation from other investors. Kasha plans to use the investment to expand its platform in South Africa and West Africa later this year.

Kasha differentiates itself from other B2B e-commerce platforms in East Africa by focusing on health products. It offers telehealth services, connects consumers without prescriptions to doctors, and provides inventory credit to pharmacies, clinics, and hospitals. The startup works directly with manufacturers and suppliers to ensure the authenticity of its products. It also spreads information on health and safety through various content channels and provides insights to global health organizations.

Kasha has experienced significant growth since its Series A round, with annual recurring revenue increasing by 50x. The company aims to continue growing aggressively, become a global company, deliver strong returns to investors, and potentially go public. With its recent funding and the support of investors, Kasha is well-positioned to expand its last-mile access to health offerings across Africa.

Edge Computing: A Game-Changer for the Internet of Things

VujaDE on July 20, 2023

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Edge Computing: A Game-Changer for the Internet of Things

In the era of digital transformation, where the Internet of Things (IoT) has become an integral part of our lives, the demand for real-time data processing and analysis has skyrocketed. Traditional cloud computing models, while effective for many applications, often struggle to meet the stringent latency requirements of IoT devices. This is where edge computing emerges as a game-changer for the IoT ecosystem.

Edge computing refers to the paradigm shift where computational power is moved closer to the edge of the network, i.e., closer to where the data is being generated. Unlike cloud computing, which centralizes the processing and storage in data centers, edge computing allows data to be processed, analyzed, and acted upon locally, at or near the source. This decentralized approach brings numerous benefits, particularly for IoT applications.

Latency reduction is perhaps the most significant advantage that edge computing offers. In scenarios where real-time response is critical, such as autonomous vehicles or industrial automation, the time it takes to transmit data to a remote cloud server and receive a response would be unacceptable. With edge computing, the processing is done locally, resulting in significantly reduced latency and allowing for near-instantaneous decision-making.

Furthermore, edge computing improves reliability and availability. In a cloud-centric model, a loss of connectivity between IoT devices and the cloud server can disrupt the entire system. However, with edge computing, even if there is intermittent or no internet connection, the local edge devices can continue to operate independently since they have their own computational capabilities. This ensures uninterrupted operations and safeguards against single points of failure.

Data privacy and security also benefit from edge computing. By keeping sensitive data closer to its source and processing it locally, edge computing minimizes the risks associated with transmitting vast amounts of data to a remote cloud server. This significantly reduces the attack surface and potential points of vulnerability, making it more difficult for hackers to breach the system.

Edge computing also offers cost savings by optimizing data transmission and storage. Since edge devices filter and preprocess data at the source, only relevant and actionable information is sent to the cloud, minimizing bandwidth usage and storage costs. This makes edge computing an economically viable option, especially for large-scale IoT deployments where data volumes can be enormous.

Despite its advantages, adopting edge computing for IoT applications does come with some challenges. One major hurdle is managing a distributed network of edge devices efficiently. Ensuring seamless communication, software updates, and monitoring across a large number of edge devices can be complex. However, advancements in edge orchestration frameworks and edge management technologies are addressing this challenge, making it easier to deploy, manage, and scale edge computing infrastructure.

As the IoT ecosystem continues to expand, with billions of interconnected devices generating massive amounts of data, edge computing has emerged as a crucial component to meet the demands of this interconnected world. By providing low latency, enhanced reliability, improved security, and cost savings, edge computing is truly a game-changer for the Internet of Things. With technology advancements and industry-wide adoption, we can expect edge computing to revolutionize how IoT applications are built and deployed, bringing us closer to a fully connected and intelligent future.
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Tech Companies’ Remarkable IPO Performance Makes Startups Appear Inadequate

VujaDE on July 20, 2023

Many venture-backed startups are unable or unwilling to go public, causing concerns among backers of venture funds who want to see returns.

Investors are becoming increasingly cautious about investing more capital in the startup landscape without getting some of their prior cash back. However, with expected delays in IPOs and a backlog of highly valued startups, relief is not anticipated in the near future.

The Exchange explores startups, markets and money.

Read it every morning on TechCrunch+ or get The Exchange newsletter every Saturday.

However, there are still some companies going public, and some of these newly public entities have been successful, even if they are venture-backed or related to the tech industry. This success is somewhat embarrassing for traditional software companies, seen as the center of tech and startups.




The Cava public offering (a privately-backed fast casual food with ecommerce elements) was successful, and this week saw the debut of Oddity Tech, a beauty-focused company that emphasizes its use of modern technology to create its products. Both Cava and Oddity priced their IPOs above their final price range and experienced a surge in value after starting to trade.

While food and beauty may not have the same growth and gross margins as traditional tech companies, these IPO successes challenge the notion that only software companies can thrive in the tech industry.

There is ongoing discussion in the tech industry regarding why software companies aren’t more profitable, considering their high-margin recurring revenue. Some argue that the belief in their increasing profitability over time may be incorrect, especially among smaller SaaS firms that struggle to demonstrate operating leverage.

Meituan invests in Zhipu AI, China’s formidable AI competitor

VujaDE on July 20, 2023

Zhipu AI, a prominent challenger to OpenAI in China, has received funding from Meituan, a food delivery giant with a market cap of approximately $100 billion. A subsidiary of Zhipu AI recently gained a 10% stake in the company. The exact funding details have not been disclosed, but Zhipu AI mentioned raising “hundreds of million yuan” in a Series B round last September. Qiming Venture Partners, Legend Capital, and Tsinghua Holdings are among its investors.

Numerous Chinese companies are working on developing large language models (LLMs) that could rival their Western counterparts. Zhipu AI, which originated from Tsinghua University, is one such company. Founded in 2019, it is led by Tang Jie, a professor in the university’s Department of Computer Science and Technology.

Zhipu AI recently open-sourced its bilingual conversational AI model, ChatGLM-6B, which is trained on six billion parameters and claims to be able to perform inferences on a single consumer-grade graphics card, significantly reducing the cost of running an LLM. They have also previously open-sourced a more powerful variant, the GLM-130B, trained on 130 billion parameters. Their chatbot app, ChatGLM, is currently in a closed beta phase primarily targeting academic and industry players.

Meituan’s investment in Zhipu AI comes shortly after their acquisition of Light Years Beyond, another prominent LLM player in China, for $234 million. These investments are expected to enhance Meituan’s AI capabilities while providing the AI firms access to Meituan’s extensive user base of 450 million individuals who utilize their on-demand platform for food delivery, grocery shopping, and hotel bookings.

How Cryptocurrency is Changing the Future of Money

VujaDE on July 19, 2023

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Cryptocurrency, a digital or virtual form of currency that uses cryptography for secure transactions, has been making waves in recent years. While it initially started with the introduction of Bitcoin in 2009, the technology behind cryptocurrency, called blockchain, is now being utilized by numerous other cryptocurrencies such as Ethereum, Ripple, and Litecoin. This digital revolution is not only transforming the way we think about money but also potentially changing the future of financial transactions.

One of the key ways in which cryptocurrency is reshaping the future of money is by providing a decentralized system. Unlike traditional currencies issued by central banks, cryptocurrencies are not controlled by any single entity. Instead, they operate on a distributed ledger called blockchain. This means that transactions are verified by multiple participants, known as nodes, scattered across the globe. The absence of central control ensures greater transparency, as anyone can access the blockchain and view the transaction history.

With traditional banking systems, conducting international transactions can often be expensive and time-consuming. Cryptocurrencies offer a promising solution to this problem. By eliminating third-party intermediaries, such as banks, cryptocurrency transactions can be completed quickly and at a significantly lower cost. Additionally, the use of blockchain technology ensures that these transactions are secure, further enhancing the efficiency and reliability of international transfers.

Another area where cryptocurrency is making a significant impact is in the realm of financial inclusion. In many parts of the world, traditional banking systems are inaccessible to large segments of the population. Cryptocurrency provides an alternative for those who are unbanked or underbanked, allowing them to participate in the global economy. With just a smartphone and an internet connection, individuals can send, receive, and store cryptocurrency, bypassing the need for a traditional bank account.

Furthermore, cryptocurrency has the potential to transform fundraising and investment opportunities. Initial Coin Offerings (ICOs), a fundraising mechanism similar to Initial Public Offerings (IPOs), have gained popularity in the cryptocurrency space. ICOs allow startups and projects to raise funds by selling digital tokens to investors. This opens up new avenues for investment and democratizes the funding process, as anyone can participate in ICOs, regardless of their financial background.

While the future of money may seem uncertain, it is clear that cryptocurrency has the potential to revolutionize the way we transact and interact with financial systems. By providing decentralization, lower transaction costs, increased financial inclusion, and transformative fundraising opportunities, cryptocurrency is reshaping the future of money as we know it.

However, it is important to recognize that there are challenges and risks associated with cryptocurrency. Its decentralized nature poses regulatory and security concerns, and the volatile nature of cryptocurrency markets can lead to significant fluctuations in value. Additionally, cryptocurrencies are still not widely accepted as a form of payment by merchants, limiting their practical usage in day-to-day transactions.

Nevertheless, with technological innovations evolving rapidly, cryptocurrencies are steadily gaining traction. Governments, financial institutions, and businesses have started experimenting with blockchain technology and exploring the possibility of issuing their digital currencies. As the world becomes more digitally connected, the potential for cryptocurrency to become an integral part of our financial ecosystem cannot be ignored.

In conclusion, cryptocurrency is undoubtedly changing the future of money. Its decentralized, efficient, and inclusive nature is revolutionizing the way we transact and participate in the global economy. While challenges and risks still exist, the potential benefits of cryptocurrency are immense. As the world embraces this digital revolution, it will be exciting to see how cryptocurrency shapes the future of money.
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Disrupt 2023: Rick Fox emphasizes eco-friendly cement for a sustainable future

VujaDE on July 19, 2023

Concrete, a key ingredient in modern construction, is one of the least climate-friendly materials. It contributes to nearly 10% of the world’s carbon pollution. However, there is hope with the development of concrete that removes CO2 from the atmosphere. This breakthrough technology will be discussed in a session called “Doing Something Concrete on Climate” at TechCrunch Disrupt 2023. Rick Fox, former NBA champion and founder of carbon-negative concrete startup Partanna, will be joining us on the Sustainability Stage to share his journey and insights.

Rick Fox, known for his basketball career and acting roles, has now turned his focus to making a positive impact on climate change. As the CEO of Partanna, he aims to leave a lasting legacy by addressing the environmental impact of concrete. In this session, we will delve into the genesis of Partanna, the company’s funding and growth plans, and its vision for the future.

Join us at TechCrunch Disrupt 2023 to learn more about this innovative startup and how it could potentially transform the concrete industry into a more sustainable one.

Rick Fox: Partanna founder and CEO

After retiring from the NBA, Rick Fox ventured into the entertainment industry, making a name for himself as an actor and producer. In 2015, he also became a pioneer in esports with the establishment of the Echo Fox gaming franchise. Throughout his career, Fox has worked with numerous Fortune 500 brands and has been actively involved in philanthropic efforts.

Don’t miss out on the Sustainability Stage at TechCrunch Disrupt 2023, where you can hear from leading experts on topics such as cultured meat, energy, fashion, infrastructure, and agriculture. Contact our sponsorship sales team if you are interested in sponsoring or exhibiting at the event.

Lack of Investment Pledges Hampers Shark Tank India

VujaDE on July 19, 2023

According to a recent analysis by market intelligence firm PrivateCircle, less than half of the investment pledges made by the investors on the Indian edition of Shark Tank were fulfilled. Out of the 65 shown on the TV show, only 27 received investments, totaling $2 million out of the committed $4.87 million. The analysis excluded debt investments. The second season of Shark Tank India, which ended in March, only saw one disclosed investment out of the 115 promised deals. However, it is important to note that some investments might still be in the due diligence process or technical glitches could explain the lack of disclosure. Sony Network India, the broadcaster of Shark Tank in India, declined to comment on the matter. Some startups have voiced their criticisms of the show, claiming that investors ghosted them after making promises on-air. However, investors on the show have defended it, stating that a significant percentage of the deals presented were successfully executed and that it can take months for deals to materialize. PrivateCircle’s analysis also supported the claim that some startups declined Shark Tank deals in favor of raising funds at higher valuations from other investors.

The Impending Arrival of 5G: What You Need to Know

VujaDE on July 18, 2023

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The Impending Arrival of 5G: What You Need to Know

The era of 5G is upon us, and it is set to revolutionize the way we connect, communicate, and experience the digital world. The highly anticipated fifth-generation wireless technology promises lightning-fast speeds, unprecedented connectivity, and a plethora of new opportunities across various industries. But what exactly is 5G, and what do you need to know about its impending arrival?

To put it simply, 5G is the next generation of wireless networks that builds upon the foundations of 4G LTE. While 4G brought us faster download and upload speeds, 5G takes it to a whole new level by offering internet speeds that are up to 100 times faster. This means downloading a full-length movie could take mere seconds, and streaming high-definition videos will be seamless, eliminating frustrating buffering times.

One of the key features of 5G is its significantly lower latency. Latency refers to the time it takes for data to travel from one point to another, and with 5G, it is expected to be reduced to as low as 1 millisecond. This near-instantaneous responsiveness will enable applications and devices to communicate and interact in real-time, opening up doors for advancements in fields such as autonomous vehicles, virtual reality, and robotics.

Another important aspect of 5G is its capacity to handle a massive number of connected devices simultaneously. This increase in connectivity will be vital in the development of the Internet of Things (IoT), where everyday objects are connected to the internet and can communicate with each other. Smart homes, smart cities, and smart grids will become a reality as 5G enables a seamless network of interconnected devices.

While the promises of 5G are undeniably exciting, it is important to understand the infrastructure required to make this technology fully functional. 5G operates on a higher frequency spectrum, which means it has a shorter range compared to 4G. Consequently, more cell towers and small cells will need to be installed to ensure reliable coverage, especially in urban areas. The deployment process might take time and will require substantial investment from telecommunication companies and governments.

Furthermore, as with any new technology, there are concerns around security and privacy. With the increased connectivity and data exchange that 5G brings, there will be an amplified need for robust security measures to protect against potential cyber threats. As 5G infiltrates various industries such as healthcare, finance, and transportation, securing sensitive data will become paramount.

The arrival of 5G will also have a considerable impact on various sectors. Industries such as healthcare will benefit from remote consultations and diagnostics made possible by the high-speed, low-latency connection. Self-driving cars and smart traffic management systems will become more efficient and safer with the real-time communication facilitated by 5G. Additionally, the entertainment industry would experience a significant transformation, offering immersive virtual reality experiences and seamless streaming services.

In conclusion, the impending arrival of 5G promises a new era of connectivity, speed, and endless possibilities. From faster download speeds to real-time interactions, this technology will revolutionize how we connect and interact with the digital world. However, it is crucial to understand the infrastructure requirements, potential security concerns, and the impact it will have on various industries. Buckle up, for 5G is set to change the way we live, work, and play.
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Bond sales bring in $210 million for Telegram

VujaDE on July 18, 2023

Telegram recently raised approximately $210 million through bond sales, with investors including its founder, Pavel Durov. The popular messaging app, with over 800 million monthly users, issued $270 million in bonds. According to a company executive, the bond issue price differed due to the significant increase in interest rates since 2021. Although Telegram is not yet profitable, this new financing aims to bring them closer to the break-even point. Durov claimed that Telegram is closer to profitability than competitors like Twitter and Snap in absolute numbers. The bonds were purchased by “well-known funds with stellar reputations,” as described by Durov, although the specific funds were not disclosed. Durov also revealed that he personally invested tens of millions into the new Telegram bonds, in addition to the hundreds of millions he has previously spent on sustaining the app. Telegram continues to gain over 2.5 million users daily, and Durov mentioned his ownership of Bitcoin and Toncoin, a loosely linked token. This funding comes after Telegram raised over $1 billion in debt financing by selling 5-year pre-IPO convertible bonds more than two years ago. Further details on the recent bond sales are yet to be obtained.

Enhance Your Next Board Meeting with these 5 Powerful Marketing Slides

VujaDE on July 18, 2023

Michelle Swan
Contributor

Michelle Swan is a partner at Tercera and is responsible for marketing and content, the advisor and portfolio experience, and guiding portfolio companies on go-to-market and brand strategies.

Most board directors understand the importance of marketing for a company’s growth. However, marketing is often reduced to a single metric – pipeline – in board meetings.

While generating leads is a key function of marketing, it has the potential to contribute much more to a company’s performance. Marketing also shapes market positioning, elevates brand reputation, and creates leverage and consistency across various functions as a company grows.

Why is marketing undervalued?

The main reason is that marketing is often a mystery to board members. Research shows that very few Fortune 1000 boards have active marketing leaders. Additionally, many board members come from backgrounds without marketing experience, further contributing to the undervaluing of marketing.

Another reason is the increasing need for businesses to be data-driven. It is easier to measure the impact of events and digital demand-gen activities compared to brand campaigns and other aspects of marketing that are essential but challenging to measure in terms of ROI.

As a result, business leaders often focus on measuring marketing’s contribution to the near-term pipeline, neglecting other important aspects of marketing.

Reshaping the board update

A board’s role in a growth company is not just governance but also guiding future performance. When presenting marketing updates to the board, it is important to cover five key areas:

  • Priorities: Share the areas of the business that marketing is driving or supporting.
  • Performance: Provide updates on how marketing is performing against its priorities.
  • Pipeline: Discuss the health of the pipeline.
  • Positioning: Evaluate if the company and its offerings are positioned for future growth.
  • Plans: Share the plans for the next quarter or year.

Clarify the priorities

Start by discussing the areas of the business that marketing is focused on, whether quarterly objectives, annual OKRs, or strategic initiatives. For each priority, explain how marketing is contributing and why it is important.

Show your performance

Create a scorecard that tracks marketing’s progress against its priorities. Use data and milestones to provide a clear picture of performance. Don’t shy away from acknowledging areas of improvement and asking for the board’s support.

NDR Medical Technology’s ANT-X Granted FDA Clearance, Paving the Way for Image-Guided Surgeries

VujaDE on July 17, 2023

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Singapore, Singapore, July 17, 2023 –(PR.com)– ANT-X is an interventional robot that leverages C-arm fluoroscopy to help clinicians achieve swift and accurate percutaneous needle placement.

NDR Medical Technology, an AI-empowered interventional robotics company, today announced that the ANT-X has been granted FDA 510(k) clearance by the U.S. Food and Drug Administration (FDA). This clearance makes ANT-X the world’s first automated robotic device to aid in needle positioning and alignment to access the kidney for Percutaneous Nephrolithotomy (PCNL), a urology procedure for kidney stone removal. It is designed to empower clinicians to perform image-guided Fluoroscopic percutaneous access with speed and precision.

Improving treatment outcomes for patients with kidney stones

Approximately 10 percent of the American population is affected by kidney stones in their lifetime1, and there is a pressing need for effective treatment. Among treatment options available for patients, PCNL stands out as the preferred treatment of choice for patients2, as it tends to see higher stone-free rates compared with procedures such as ureteroscopy3. Despite its benefits, PCNL represents only an estimated 7-8 percent of stone procedures conducted in the US today 4. With FDA approval secured for the ANT-X, clinicians will be able to carry out PCNL procedures safely and effectively for a larger number of patients.

“As urologists, we recognise that achieving percutaneous access to the renal collecting system is a crucial step that significantly impacts the success of kidney stone surgery,” said Dr Kazumi Taguchi, Assistant Professor and head of research of Nephro-urology at Nagoya City University, “Despite advancements in surgical techniques, we are still faced with the daunting task of performing this procedure, which demands considerable time and effort.”

Increased market size in the US

With the advancement of PCNL techniques such as mini PCNL and ultra-mini PCNL, more patients can be discharged on the same day without the need for stents, tubing, or any remaining stones5.

“Recent trends show an increase in the use of PCNL targeting stones up to 2cm, while Mini PCNL has been proven to minimise adverse events. We are confident that the adoption of ANT-X reduces the complexity of such procedures,” said Alan Goh, CEO, NDR Medical Technology.

In the US, current reimbursement codes cover procedures for stone sizes up to 2cm or larger, with new updates to the codes allowing urologists to be incentivised for performing their own access in PCNL procedures6. With ANT-X, urologists can now confidently perform image-guided access, which was previously challenging without assistance.

NDR Medical Technology also recently placed second in the MedTech category at SelectUSA Tech 2021, a showcase for entrepreneurs at the SelectUSA Investment Summit 2021, organised by the US Department of Commerce.

Unlocking new possibilities in the future of healthcare

Beyond urology procedures, the versatility of ANT-X extends to other indications. In Singapore, the company successfully conducted its first Neurospine procedure, discoplasty, in June 2023. Driven by a vision to revolutionise the standard of care, NDR Medical Technology is seeking partners and investors to join in the mission of creating breakthrough solutions that transform the future of healthcare.

“Achieving FDA 510(k) approval gives NDR Medical Technology access to the largest healthcare market in the world, and is a critical step ahead for the company,” said Hsien-Hui Tong, Executive Director – Investments, SGInnovate. “This milestone is a sign of consistent good traction made by the team as it continues to expand the applications of its technology, and deliver value to its customers, partners and investors.”

For media and other queries, please contact:
Evangeline Chia
evangeline@ndrmedical.com

About NDR Medical Technology Pte Ltd
NDR Medical Technology was founded in 2015 and developed the patented Automated Needle Targeting system (ANT) that can facilitate safe and accurate needle punctures to organs such as the lungs, kidney, pancreas, and spine. Integrating AI and robotics, we empower surgeons to conduct pioneer image-guided robotic procedures with improved accuracy, precision, and safety for patients.
Our first interventional robot (ANT-X) integrates C-arm fluoroscopy and AI software to assist clinicians in percutaneous needle placements and can be used in a wide range of procedures such as urology, neurology, and orthopedics. ANT-C is a smart lesion targeting system that AI uses CT-can images to automate lesion detection, needle path planning and needle targeting with unparalleled precision and accuracy. Applications include usages in pulmonology and hepatology. As a cut above the rest, our robots cost less than half of the current technology out in the market and can function without the need for external sensors.

With a renewed vision to lead AI-empowered interventional robotics, we strive to create revolutionary breakthroughs in the industry and transform the healthcare landscape.

References:
1https://www.orlandohealth.com/content-hub/why-southerners-have-a-higher-risk-of-kidney-stones
2https://www.sciencedirect.com/science/article/pii/S1743919116310378
3https://www.urologytimes.com/view/mini-pcnl-has-higher-stone-free-rate-than-ureteroscopy-and-similar-cost-burden
4Chung KJ, Kim JH, Min GE, Park HK, Li S, Del Giudice F, Han DH, Chung BI. Changing Trends in the Treatment of Nephrolithiasis in the Real World. J Endourol. 2019 Mar;33(3):248-253. doi: 10.1089/end.2018.0667. Epub 2019 Feb 13. PMID: 30628473.
5https://reports.mountsinai.org/article/uro2022-11-ultra-mini-pcnl-a-new-approach-to-treating-kidney-stones
6https://community.auanet.org/policyandadvocacyblog/blogs/policy-brie f/2016/11/16/coding-corner-percutaneous-nephrostolithotomy-and-nephrostomy-tract#:~:text=Answer%3A%C2%A0%20CPT%20code%2050080%20Percutaneous%20nephrostolithotomy%20or
%20pyelostolithotomy%2C,are%20the%20base
%20codes%20for%20percutaneous%20stone%20extraction.
7https://www.businesstimes.com.sg/startups-tech/startups/singapore-based-startups-bag-four-wins-us-investment-platform

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The Pros and Cons of Autonomous Vehicles: A Comprehensive Overview

VujaDE on July 17, 2023

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Autonomous vehicles, also known as self-driving cars, have been a topic of great interest and debate in recent years. With rapid advancements in technology, the possibility of having vehicles that can navigate on their own without human intervention is becoming more feasible. While the idea of self-driving cars may seem futuristic and exciting, it is important to consider both the pros and cons associated with this emerging technology. This article aims to provide a comprehensive overview of the advantages and disadvantages of autonomous vehicles.

Let’s start with the pros. One of the biggest advantages of autonomous vehicles is increased safety. As self-driving cars rely on advanced sensors, cameras, and artificial intelligence algorithms, they have the potential to minimize human errors that lead to accidents. According to the National Highway Traffic Safety Administration, human error is the cause of 94% of car accidents. With autonomous vehicles, the elimination of distractions, fatigue, and impaired driving could significantly reduce the number of accidents, injuries, and fatalities on the road.

Another major advantage of self-driving cars is enhanced mobility and accessibility. For individuals with disabilities, the elderly, or those who are unable to drive, autonomous vehicles could provide a newfound freedom and independence. These vehicles have the potential to transport people who cannot drive, opening up possibilities for employment, social activities, and healthcare access.

In addition to safety and accessibility, autonomous vehicles can greatly contribute to improved traffic flow and reduced congestion. Through the use of sensors and interconnectedness, self-driving cars can communicate with each other and make real-time decisions to optimize routes and maintain smoother traffic patterns. This efficiency could lead to reduced travel times, fuel consumption, and emissions, ultimately benefiting the environment.

However, with these advantages come significant drawbacks. One of the primary concerns surrounding autonomous vehicles is the issue of cybersecurity. With advanced technologies controlling essential functions of the vehicle, the risk of hacking and cyber-attacks poses a serious threat. Malicious individuals or groups could potentially gain control over autonomous vehicles, leading to potential accidents or even terrorist activities. As the technology evolves, ensuring robust cybersecurity measures becomes paramount.

Another significant challenge is the need for extensive infrastructure updates to support autonomous vehicles. To fully realize the benefits of self-driving cars, roadways, traffic signals, and infrastructure must be equipped with smart systems and connectivity. Governments and municipalities would need to invest heavily in developing and maintaining this infrastructure, which could be a slow and costly process.

Additionally, there are ethical considerations surrounding autonomous vehicles. One such concern is the dilemma of making split-second decisions in potentially life-threatening scenarios. For example, if a self-driving car is faced with an unavoidable accident, should it prioritize the safety of its passengers or pedestrians? Determining the ethical framework and decision-making algorithms for such situations can be complex and subjective, presenting moral challenges that require careful consideration.

Furthermore, some individuals may express privacy concerns related to the data collection and storage practices of autonomous vehicles. With the multitude of sensors and cameras constantly monitoring the environment, there is potential for the invasion of privacy. Safeguards and transparent policies would need to be implemented to address these concerns and ensure the responsible handling of personal data.

In conclusion, autonomous vehicles hold significant potential for enhancing safety, mobility, and traffic efficiency. The reduction of human errors and the increased accessibility they offer are undoubtedly beneficial aspects. However, challenges such as cybersecurity, infrastructure requirements, ethical decision-making, and data privacy must be carefully addressed to fully capitalize on the benefits of this emerging technology. As the development and deployment of self-driving cars continue to progress, it is crucial to strike a balance between embracing the advantages and mitigating the drawbacks to ensure a safer and more efficient transportation future.
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Drop, the mechanical keyboard maker, is being acquired by Corsair

VujaDE on July 17, 2023

The trend of companies acquiring mechanical keyboard companies continues, with Corsair making its own acquisition. Based in Fremont, California, the peripheral maker has announced the purchase of “certain assets” from Drop, a mechanical keyboard company based in Portland, Oregon. The specific details of the all-cash deal have not been disclosed.

Drop CEO Jef Holove confirmed the acquisition in a blog post, expressing confidence in the move and its benefits for Drop’s community of discerning enthusiasts. Drop is known for its diverse product portfolio, which includes keyboards, keycaps, and audio accessories. Its mechanical keyboards are particularly highly regarded, and the company is also recognized for its collaborations featuring popular intellectual properties like Lord of the Rings and Marvel.

Corsair CEO Andy Paul highlighted the growing trend of personalized keyboards in the gaming peripheral space and praised Drop as a leader in this field. He expressed optimism in the global expansion of the Drop brand through Corsair’s extensive reach. Additionally, Corsair’s acquisition of Elgato’s gaming division in 2018 has allowed for the continued release of products under that branding. Corsair will operate Drop as its own brand and plans to offer specialized Corsair and Elgato products to Drop’s enthusiast community.

Holove emphasized the benefits of being a part of Corsair, including the ability to deliver more products, collaborate with community favorites, and improve supply chain reliability. With the global logistics capability provided by Corsair, Drop aims to better serve international customers seeking an easier and more affordable way to access their coveted products.

Tesla Reveals Initial Cybertruck Production Ahead of Q2 Financial Report

VujaDE on July 17, 2023

Tesla announced that its highly anticipated Cybertruck has rolled off the production line in Texas. This comes just before Tesla’s earnings call for the second quarter of 2023.

The Cybertruck was initially introduced by Tesla CEO Elon Musk in 2019, but production has faced repeated delays due to component sourcing shortages. The truck was originally scheduled to be produced and delivered in 2021.

In July 2022, Musk set a new production schedule for summer 2023 and promised a delivery event for the Cybertruck at the end of Q3 during Tesla’s first quarter earnings call. Musk also stated that once production begins, Tesla could deliver between 250,000 to 500,000 units per year, with mass production scheduled for the end of this year.

Analysts are eagerly awaiting Tesla’s Q2 earnings call for more information on production, delivery, and specifications.

While Tesla has attributed Cybertruck delays to supply chain issues, leaked documents have revealed fundamental flaws in the vehicle’s design and engineering. In January 2022, leaked files showed serious issues with braking, powertrain, suspension, sealing, and structure of preproduction prototypes. This raised concerns and reminded people of the first Cybertruck reveal event when the supposedly unbreakable armor glass windows cracked.

As of November 2022, the Cybertruck had over 1.5 million reservations. Customers have been able to pre-order with a $100 refundable deposit since 2019.

The original estimated starting price for the Cybertruck was $39,900 for the single motor and rear-wheel drive model. However, the price is now expected to start at around $50,000 for that model, with the dual-motor, all-wheel drive version starting at around $60,000 and the priciest version starting at around $70,000.

Tesla’s entry into the pickup truck market will pit it against competitors like Ford’s F-150 Lightning, Chevrolet Silverado EV, and Rivian R1T. The Cybertruck will need to compete with these electric pickups in the profitable EV segment in the US.

The Ethics of Robotics: Tackling the Dilemmas of Artificial Intelligence

VujaDE on July 16, 2023

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Artificial intelligence (AI) has become one of the most transformative technologies of the 21st century. As AI continues to evolve, it presents a host of ethical dilemmas that must be addressed. The field of robotics, in particular, raises significant moral questions that require careful consideration. In this article, we explore the ethics of robotics and the challenges in tackling the emerging dilemmas of artificial intelligence.

One of the fundamental ethical concerns in robotics lies in the potential harm caused by autonomous machines. As robots become more sophisticated and capable of making decisions independently, they may inadvertently cause harm or even act maliciously. This raises questions about accountability and liability. Who is responsible if a robot causes harm? Is it the manufacturer, the programmer, or the robot itself? Determining liability in such cases is a complex task that requires a comprehensive framework of laws and regulations.

Another key ethical consideration revolves around the issue of privacy. As robots become more integrated into our daily lives, they have access to vast amounts of personal data. This raises concerns about surveillance, data protection, and the potential for misuse. Companies and developers must ensure that robots are designed with robust privacy safeguards and that laws are in place to protect individuals from unauthorized access and use of their personal information.

The question of job displacement is also a significant ethical concern in robotics. Automation has the potential to replace human workers in various industries, leading to unemployment and economic inequality. It is crucial to find ways to ensure a just transition so that individuals who lose their jobs to robots are not left behind. This may involve retraining programs, income redistribution, or the creation of new job opportunities in emerging fields.

Another critical ethical dilemma in robotics is ensuring fairness and avoiding discrimination. AI systems are trained on large datasets, which may inadvertently reinforce biases present in the data. If left unchecked, this can lead to discriminatory outcomes, such as biased hiring practices or unfair treatment of certain groups. It is essential to develop algorithms and systems that are unbiased and transparent, allowing for a fair and equitable society.

The development and use of lethal autonomous weapons systems is an extremely sensitive ethical issue. These robots, also known as killer robots, have the ability to identify and engage targets without human intervention. The prospect of AI-powered machines making life-or-death decisions raises profound moral concerns. There is an ongoing debate about whether such weapons should be banned or subject to strict regulations to prevent their misuse and the potential loss of human control.

Lastly, the ethical considerations of robotics include the impact on our connection and empathy with other humans. As robots become more human-like and interactive, they have the potential to replace or disrupt social interactions. This raises questions about the nature of human relationships and whether human-like machines can genuinely offer companionship and emotional support. It is essential to strike a balance between technological advancements and preserving the unique human connectedness that defines us.

Addressing the ethical dilemmas of robotics requires collaboration and interdisciplinary efforts from various stakeholders. Governments, industry leaders, researchers, and ethicists must actively engage in discussions and establish ethical guidelines and frameworks. Establishing an international consensus on the ethics of robotics is crucial to ensure uniform standards and prevent harmful uses of AI.

In conclusion, as robotics and artificial intelligence continue to shape our world, it is essential to address the ethical dilemmas they present. From questions of accountability and liability to privacy concerns and job displacement, ethics must play a central role in the design, development, and deployment of robotics. By tackling these dilemmas head-on, we can ensure that AI technologies are developed and used in a way that aligns with our shared values and promotes a just and inclusive society.
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The Reasons behind the Founder’s Decision to Step Down as CEO

VujaDE on July 16, 2023

Starting a company is a significant decision, and choosing to become the CEO to lead that company is crucial. However, if you look at the list of the world’s most valuable companies, you’ll notice that the top positions in tech companies are not always held by the original founders.

Switching CEOs is not uncommon in the startup world, although it’s rarely discussed openly. Private companies usually don’t have to announce leadership changes outside of the boardroom.

Still, deciding to step down from a startup that you’ve invested so much time and effort into is a difficult choice. I recently spoke with Troy Bannister, the founder of Particle Health, who went through this transition a few months ago, to understand how he made his decision.

“I’ve been in the healthcare industry for most of my adult life,” said Bannister. “I worked as an EMT when I was 18. During college, I switched majors from business to pre-med and later joined a VC accelerator called StartUp Health. There, I met numerous entrepreneurs building healthcare startups. When I saw companies like Plaid, Stripe, and Twilio, I wondered why there wasn’t an API model for clinical data. That’s when I started Particle.”

Troy Bannister, as per recently no longer CEO at Particle Health, the company he founded. Image Credits: Particle Health

The timing was fortunate for Particle Health as the anti-information blocking rule of the 21st Century Cures Act meant that patients could access their health information. Consequently, startups in this field needed a secure way to request and store this information. Particle found its niche in providing connections to the health records of 320 million people.

However, five years later, Bannister realized that something was amiss. He had built the company from scratch, raising a Series B round, growing the team to 65 people, securing around 50 customers, and setting a clear path for a Series C round in the near future. But now, he faced a tough decision: Was he the right person to continue leading the company as CEO?

Threads Surpasses 100 Million User Milestone, Pedestrians Rally Against Autonomous Vehicles, and VanMoof Faces Unexpected Setback

VujaDE on July 16, 2023

Welcome to Week in Review (WiR), TechCrunch’s weekly roundup of the latest tech news. If you haven’t had time to keep up with the major stories, don’t worry. We’ve got you covered.

In this edition, we’ll discuss a 19-year-old MIT dropout revolutionizing the defense industry, the challenges faced by e-bike company VanMoof, protests against autonomous vehicles in San Francisco, Twitter CEO Elon Musk’s new AI organization, and Instagram’s Threads app reaching 100 million downloads.

Continue reading for more top stories from the week. And if you haven’t already, sign up here to receive WiR in your inbox every Saturday.

Most read

Hydrogen-powered defenses: Aria covers the story of Mach Industries, a defense startup led by 19-year-old founder Ethan Thornton. The company is developing hydrogen-powered platforms for the military, including unmanned aerial vehicles, munitions, and hydrogen-generation systems.

VanMoof faces challenges: Dutch e-bike startup VanMoof, known for its successful venture backing, has encountered difficulties recently. The company has halted sales and key executives have left their roles as VanMoof seeks additional funding to prevent bankruptcy.

Pedestrians fight back: Activists in San Francisco have found a way to disable autonomous vehicles from companies like Cruise and Waymo using traffic cones. This protest coincides with an upcoming hearing where Waymo and Cruise plan to expand their robotaxi services in the city.

Threads hits another milestone: Despite lacking certain features, Instagram’s Threads app has reached 100 million downloads. The text-based app is a competitor to Twitter and was launched in June.

Google Calendar introduces availability sharing: Gmail now includes new scheduling features integrated with Google Calendar. Users can quickly create events and easily share their availability. The Gmail interface includes a calendar icon at the bottom of the conversation view with options to create an event or offer available time slots.

Satellites dodge obstacles: SpaceX’s Starlink satellites are frequently performing maneuvers to avoid collisions with other objects in low Earth orbit. The increasing saturation of satellites in orbit has raised concerns about potential catastrophic impacts. SpaceX’s satellites made over 25,000 avoidance maneuvers between December 2022 and May 2023, doubling the previous reporting period.

Making interstellar space travel a reality: Pulsar Fusion, a space propulsion company, has begun construction on a large nuclear fusion chamber in England. The company aims to be the first to develop a nuclear fusion–powered propulsion system for space travel. This technology could significantly reduce travel times to destinations such as Mars and Saturn’s moon Titan.

Anthropic releases Claude 2: Anthropic, an AI startup founded by former OpenAI executives, has launched Claude 2, an advanced text-generating AI model. Claude 2 surpasses its predecessor in various areas and excels in tasks like document search, summarization, writing, coding, and answering specific questions.

Audio

If you’re looking for a podcast to listen to, check out TechCrunch’s growing roster.

On Equity, the team discusses various topics including the Chinese AI model competition, Founders Fund’s new partner, Connetic Ventures’ use of AI models to create a fairer landscape for entrepreneurs, and recent tech layoffs and inflation.

Over at Chain Reaction, Jacquelyn interviews Maria Shen, a general partner at Electric Capital, a venture firm focused on crypto, blockchain, fintech, and marketplaces. Electric Capital recently closed $1 billion in funds for equity investments in startups and direct investments in crypto tokens.

TechCrunch+

TC+ subscribers have access to in-depth commentary, analysis, and surveys. If you’re not a subscriber yet, consider signing up. Here are some highlights from this week:

Light at the end of the tunnel: Alex discusses the positive outlook for venture capital activity after a significant correction in recent quarters.

Amazon and the brands it kills: Haje examines the fate of Digital Photography Review (DPReview), a popular review and news site. DPReview was acquired by Amazon in 2007 and eventually shut down in March after a transition to contractor and freelancer staff.

ESG, safe for now: Tim explores the sustainability concerns among investors and concludes that these concerns are here to stay.

Experience TechCrunch in person. Join us at Disrupt 2023 in San Francisco this September to immerse yourself in the world of startups. From interviews and roundtables to a bustling expo floor, Disrupt has something for everyone. Save up to $600 on your pass when you purchase by August 11, and use promo code WIR to save an additional 15%. Learn more.

Breaking the Limits: How Quantum Computing is Changing the Game

VujaDE on July 15, 2023

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Quantum computing, a fascinating field at the intersection of physics, mathematics, and computer science, has the potential to revolutionize the way we solve complex problems. Traditional computers, as we know them, use bits to process and store information. These bits are represented by electrical or optical signals, either in an “on” or “off” state, commonly referred to as 0s and 1s. However, quantum computing takes advantage of the peculiar properties of quantum mechanics to create qubits, a new kind of computational entity that can exist in multiple states simultaneously.

This ability of qubits to be in multiple states simultaneously, known as superposition, is what sets quantum computing apart. By harnessing the power of superposition and combining it with another quantum property called entanglement, quantum computers can perform calculations at an unprecedented speed and scale, breaking the limits of classical computers.

One of the most prominent applications of quantum computing is in the field of cryptography. Traditional encryption algorithms rely on the fact that it would take classical computers an unreasonable amount of time to factor large numbers into their prime components – the basis of many encryption methods. However, with the advent of quantum computing, this advantage could be threatened. Shor’s algorithm, developed by Peter Shor in 1994, has demonstrated that quantum computers could potentially break these encryption codes much faster than classical computers.

The implications of this breakthrough are immense. It means that sensitive data currently protected by encryption could be at risk if quantum computers become powerful enough. This has prompted a race to develop quantum-resistant encryption methods that can withstand attacks from these powerful machines.

Apart from cryptography, quantum computing has the potential to revolutionize fields such as drug discovery, materials science, optimization, and artificial intelligence. These fields often require solving complex equations or searching for optimal solutions among a vast number of possibilities – tasks that are notoriously time-consuming using classical computers. Quantum computers, with their ability to perform parallel computations, could provide a significant advantage in tackling these problems, potentially leading to breakthroughs in drug development and innovative materials that were previously unattainable.

Furthermore, the impact of quantum computing in machine learning and artificial intelligence cannot be overlooked. Quantum machine learning algorithms have shown promising results in solving pattern recognition and optimization problems. By leveraging the inherent properties of quantum computers, such as their ability to process massive amounts of data simultaneously, quantum machine learning algorithms could accelerate progress and open doors to new horizons in artificial intelligence.

However, despite its promising potential, quantum computing is still in its infancy. Many challenges lie ahead before it becomes a practical and accessible technology. The most significant challenge is maintaining the stability and coherence of qubits, which are highly sensitive to environmental disturbances. Researchers are working diligently to develop error-correction techniques, improve qubit designs, and find ways to protect against decoherence – a phenomenon that causes qubits to lose their quantum properties over time.

Another obstacle is scalability. Current quantum computers have a limited number of qubits, restricting the complexity and size of problems they can solve. Building larger, error-tolerant quantum computers is a crucial step in realizing the full potential of this technology.

In conclusion, quantum computing is a game-changer that has the potential to break the limits of what is currently possible with classical computers. From cryptography to drug discovery and artificial intelligence, quantum computing holds the promise of transforming numerous fields and propelling humanity into a new era of innovation. While there are still challenges to overcome, the progress made so far suggests that the quantum revolution may be just around the corner.
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A Promising Breakthrough Emerges in the Cattle Industry

VujaDE on July 15, 2023

Rarely, a venture capital firm has the opportunity to invest in a startup again after its exit, especially if the startup is still private. Builders VC received such an opportunity when the founders of Performance Livestock Analytics (PLA), a cattle management software, reached out to them. PLA was acquired by Zoetis in 2020 but wanted to spin out to continue scaling. Builders VC, along with Alaris Capital, provided $7.5 million in funding for the spin-off. Builders VC had initially backed PLA during its seed round in 2019. While the acquisition by Zoetis was a successful outcome for the founders, Builders VC is thrilled to see PLA realize its true potential as a software platform for cattle farmers.