The Jonas Brothers help launch Scriber, a creator subscription company

The creator economy is “burning up,” and the Jonas Brothers are cashing in.

Launching today with the help of these former teen heartthrobs, Scriber is a creator subscription company geared toward more established figures in entertainment (… like the Jonas Brothers). Joe, Kevin and Nick aren’t just Scriber’s first creators — they also have equity in the company.

Besides catering to more established artists, Scriber differentiates itself from other creator subscription products by functioning solely via SMS. The creator will post a phone number on their social media platforms for fans to text, and after messaging that number, fans can pay a subscription fee via Apple Pay or Stripe to get exclusive content sent to their phone. For this launch with the JoBros, fans will pay $4.99 a month, but the service is only available in the U.S. right now.

Since Scriber is not an app on the App Store, the platform doesn’t have to pay fees to Apple or Google Play. Instead, creators pay Scriber $1 per month for each subscriber (so if they have 10,000 subscribers, they pay $10,000). The creator also covers Stripe’s 2.9% processing fee.

App Store fees have been a major pain point for creator-focused startups. Fanhouse, for example, instituted a coin system to circumvent Apple’s 30% cut — fans buy coins on the web, then use them in the app to subscribe to creators (they can also pay via the app, but they’ll be charged extra to cover the fees).

Scriber creators retain rights to the content that they upload, and the platform tries to protect the exclusive material from leaking by giving each subscriber a unique link to view uploads. So, if they share that link online, Scriber can easily figure out the source of the leak. This may not help in the case of screen recording and re-uploading videos, though.

Scriber comes courtesy of journalist-turned-entrepreneur Brian Goldsmith, who is serving as CEO and providing most of the startup capital. According to a report from Axios, Goldsmith says he hopes that the already wealthy celebrities he partners with will use the platform to raise money for philanthropy. The Jonas Brothers are planning to donate about half of their earnings to causes they care about.

This isn’t the Jonas Brothers’ first rodeo when it comes to startups and investments. The three musicians invested in Snackpass, a social food app, and OLIPOP, a celebrity-backed sparkling tonic company.

Kevin Jonas is a founder himself — he launched Yood, a now-defunct food app, and The Blu Market, an influencer marketing company.


from https://ift.tt/7IH3189
via Technews
Share:

Artiphon’s delightful Orba handheld synthesizer gets a sequel

I would love to see more companies like Artiphon in the world. Hardware startups with clever ideas and a knack for bringing them to market. Back in November 2020, I spent a good bit of time with the company’s handheld synth/sampler/instrument. It didn’t turn me into Wendy Carlos, but it helped pass a few dark pandemic hours by firing up some music-making neurons.

The device’s strength lies in its extraordinarily low barrier of entry. No lessons or musical aptitude are required — just a free hand or two and the desire to noodle around with sound. Today the device is getting a sequel, in the form of the fittingly named Orba 2. The product looks identical to its predecessor, with a round base and eight touch-sensitive pads arranged in triangles like pizza slices.

Image Credits: Artiphon

The device largely functions the same as the Orba 1, as well, but features a revamped sound engine with new built-in audio samples. Those are augmented by built-in sensors, which let you modify the sound through talking, shaking and spinning the device. There are nine gestures in all. Users also can sample and loop directly on the device or with the connected Orba app.

“We want people to express themselves musically in their everyday lives,” CEO Mike Butera says in a release. “We’ve dreamed of allowing anyone to play any sound they can imagine, anywhere they go, without worrying about historical instrument skills or abstract music theory. Orba 2 finally makes that possible.”

All told, the sampler can record up to five minutes/128 bars on device, coupled with a new feature that helps snap playing to a beat. Clearly the end game is making the system as dummy proof as humanly possible. Though, for more advanced users, it also doubles as a MIDI controller (via USB-C or Bluetooth) for apps including GarageBand, Ableton Live, Logic Pro and Pro Tools.

Artiphon’s Orba handheld synthesizer. Image Credits: Artiphon / mockups-design.com

The Orba 2 runs $150 — notably a $50 premium over its very accessible predecessor. Artiphon has also added a number of new features since the release of the first Orba, including the ability to utilize the device as a video editor.


from https://ift.tt/NqMVsta
via Technews
Share:

DeLorean reveals Alpha 5, a performance EV with Back to the Future vibes

DeLorean released fresh details and images of its Alpha 5 EV, a gull-winged electric vehicle that the company’s owners hope will resurrect the long defunct brand and possibly set the direction for more electric models.

The company’s — and the EV’s — big public moment won’t come until later this summer at the Monterey Car Week. But the brand’s owners, anxious to capitalize on interest in EVs and perhaps spur a little momentum ahead of the event, released images and specs that reveal the Alpha 5 retains the gull-winged, two-door frame featured in the “Back to the Future” trilogy, but features a curvier, sleeker silhouette and room for four passengers.

So far, the company’s intentions for reviving the DeLorean brand after a long hiatus — as well as how and where it will fund and built the Alpha 5 — are not clear. DeLorean CEO and former Karma Automotive executive Joost de Vries, who joined the company in December, is scheduled to speak Friday at the Electrify Expo EV festival in Long Beach, California. The expectation is that de Vries will share more information about the company’s wider ambitions for electrification.

DeLorean said Tuesday that the Alpha 5 sports car will post figures typical for a performance EV, zipping from 0 to 60 mph in just under three seconds on its way to a top speed of 155 mph. The company estimates that the car’s 100kWh battery will be able to travel more than 300 miles on a full charge.

The original DeLorean Motor Company, maker of the time-traveling DMC-12 that starred in the 1980s “Back to the Future” trilogy, was founded in Detroit in 1975 by John DeLorean, the Pontiac designer behind the GTO and Firebird. It went defunct seven years later.

The revived DeLorean Motor Company that designed the Alpha 5 is owned by a Texas-based DeLorean restorer that bought rights to the brand in 1995 and appears to be focused on electric models.

The EV was designed by Italdesign, which also helped shape the original DMC-12 four decades ago. Looking at the released images, the Alpha 5 retains the gull-winged, two-door frame from the movie but features a curvier, sleeker silhouette. It also gains two seats, a pair of infotainment screens and a frunk — but loses the flux capacitor.

The car will rely upon a mix of “artificial support” and human control, according to the company’s website. This seems to suggest there will be some kind of advanced driver assistance system, but it’s unclear what the specific features will be.

DeLorean has not released details on its price, launch or production run. It will premiere at the Pebble Beach Concours d’Elegance in Pebble Beach, California, on August 18.

The company did not immediately respond for comment Tuesday.

[gallery ids="2327462,2327463,2327469,2327464,2327471,2327470,2327461,2327467,2327465,2327466"]


from https://ift.tt/PQJT96n
via Technews
Share:

Felt’s $15 million chance to prove that maps are the next big medium

Despite economic turmoil in the tech world, an Oakland-based startup shows that moonshots are still getting funded. Felt, co-founded by Sam Hashemi and Can Duruk, wants to disrupt the role of maps in society, and rethink how we think about the medium. The startup allows users to build a map with datasets integrated into it, and work with each other to showcase impact in a less static way than your average Google maps query.

Despite a massive mission — proving that maps are a forgotten yet fundamental medium worth renovating — the co-founders cited proven business models from Figma and Notion, both valued in the billions, as reason to believe in their work. The aforementioned companies both succeeded in rolling out to users for personal use, then pivoting to the enterprise, a playbook that Felt wants to follow (and that VCs can certainly speak the language of).

“That kind of business model and go to market is — I don’t want to say immune, but is a little bit removed from the kind of market fluctuations we’re seeing,” Hashemi said. “It’s really not about consumer spending, it’s not about an advertising business, it’s just day in day out work that businesses are relying on.”

The argument worked. Today, the collaborative software startup tells TechCrunch that it recently closed a $15 million Series A led by Footwork, with participation from Bain Capital Ventures, Moxxie Ventures and Designer Fund.

Since its seed round, a $4.5 million investment announced in August 2021, Felt has grown its team from seven people to 15 people across Hawaii, California, Missouri, Vermont, Canada and Spain. One of Felt’s team members — Mamata Akella — is even an in-house cartographer — a job title you don’t too often see as part of the early-stage startup ranks.

The funding, and team growth, means that Felt thinks it is ready for the next phase of growth: feedback. The startup launched its platform publicly today after weeks of private beta testing with over 1,000 people. The public beta combined 50 layers of data, such as earthquake history or wildfire data, with a clean interface meant to empower people to draw their own maps. That in and of itself is a feat, the co-founders say, given that data is often fragmented, inaccurate or just straight-up badly formatted.

Image Credits: Felt

Felt is meant to be a continuation of the collaborative software movement underscored by everyday tools like Google Docs and top companies like Notion and Figma, as well as a sequel to Hashemi’s previous company, Remix. Bought by Via for $100 million, Remix is a city transportation planning startup born out of Code for America Hackathon. Felt was the follow-up story, this time taking mapping beyond cities. From August to now, the co-founders say that Felt went from a tech demo to a product with more “commercial legs,” including richer, fact-checked datasets, fewer bugs and, hopefully, a faster load time.

Felt launched with a climate-focused angle, yet that focus feels broader today. Hashemi said that the company is also investing in ways to serve other use cases, such as the sciences need to understand ocean landscape, or the national park’s wanting a better way to track trails.

Image Credits: Felt

Duruk said they no longer view climate as a single industry, but instead as more of a horizontal idea. “Now, every single industry that has a physical presence on Earth has to have climate and weather and fires and floods in mind…it impacts everything.” One example that Hashemi offered up was how maps can help people fleeing the war in Ukraine. How do people offer up houses, get matched or see what’s available?

A lot of these collaboration use cases, he explained, “require a larger audience using the product and pushing the boundaries.”

The next chapter should help Felt with prioritizing which features to launch next or identifying surprising use cases, but it should also give it the pressure to answer some of its most looming challenges, such as how to moderate maps or build processes that limit bad actors. These are massive questions to answer before maps can become the next big medium. The startup is launching with a moderation-first approach in the beginning, banning any kind of criminal and illegal activity such as “the next insurrection map.” Duruk thinks that the public launch will show what gaps they have in their understanding.

“You need to moderate,” said Duruk, who previously worked at Uber and data security company VGS. “I do not believe in opening something up to the world just filled with hopes and dreams, a small number of bad actors can make the experience awful for everyone and turn the platform into a bad place.”

The startup has some well-powered competition. Other than Google Maps and Apple maps, social maps app Zenly, a company owned by Snap, recently announced that it is creating its own mapping data and engine. After three years of work, Zenly wants to integrate social data and mapping data into one frame; focusing less on being “pixel perfect” and more on rolling out a different type of map.

For Felt, this is both competition and an affirmation. While Zenly is going for consumers, Felt wants to be enterprise ready. The success of both efforts depends on the world’s appetite for a new way to map their thoughts. Even if it requires more than going from point A to point B.


from https://ift.tt/t39XKbq
via Technews
Share:

Netflix’s password-sharing test in Peru is confusing subscribers, report suggests

It’s been a bumpy ride for Netflix recently, and the announcement that it will be charging for password sharing hasn’t gone as smoothly as it might have hoped, a new report claims. Subscribers in Peru who were opted in to new password-sharing restrictions have reported confusion over Netflix’s loose definition of “household” and noted the lack of clarity around the differing charges imposed on consumers.

Global tech news site Rest of World informally surveyed more than a dozen Netflix users in Peru, after Netflix’s March announcement that it would be asking customers in the country — as well as in Chile and Costa Rica — to pay extra when sharing their account passwords outside their homes. Central and South America represent Netflix’s lowest revenue per user, which helps to explain the markets’ selection.

The majority of those surveyed by Rest of World in Peru said that they have still not received uniform messaging around the new charges, even though it’s been over two months after the policy was first announced. Some subscribers experienced the price increase and then canceled their Netflix accounts as a result. But others who ignored the message about the new policy were able to share their accounts across households without an extra charge, they claimed.

An anonymous Netflix customer service representative reportedly told Rest of World that if a customer called in to argue that a member of their immediate household was using the account from a different location, the rep was instructed to tell them that person could continue to use the account via a verification code without experiencing an extra charge. This basically meant those who called in for support could ignore the new policy and continue to share the subscription without repercussions. The rep said members of their team were often confused about the policy as well.

Netflix has since confirmed that only people living in the same building are considered to be in the same household. Additionally, the company told the outlet that the rollout has been “progressive” and that subscribers across the three test markets might be paying different charges.

According to Statista, in 2021, Netflix generated approximately US$3.58 billion in revenue with its operations across Latin America. The figure accounts for around 13.4% of Netflix’s global revenue that year, which in total amounted to approximately $30 billion.

In Peru, two additional people using a subscriber’s account but living in another apartment, city or country are charged 7.9 soles (about $2.99) per month each. This option is cheaper than creating new Netflix accounts, as Peruvian subscribers pay 24.90 soles (around $6.80) for a basic plan.

While Netflix has long had a policy against sharing passwords, it was never heavily enforced. In fact, Netflix CEO Reed Hastings has previously said that it was a good thing.

However, after the particularly harsh Q1 2022 that saw Netflix’s first drop in overall subscribers since 2011, the streaming giant has made it clear that it will charge extra for those that split a subscription across multiple addresses. Approximately 33% of Netflix subscriptions are shared in multiple households, per Leichtman Research Group. Netflix confirmed this in its recent earnings report by saying approximately 100 million households have freeloaders logged in to the streaming service account.

Analysts predict that Netflix subscriber growth has peaked, and the company seems to have hit a ceiling of 220 million subscribers. In addition, the streamer has laid off around 150 workers after losing 200,000 subscribers in the first quarter.

Given the confusion around early adopters’ firsthand experience with the new feature, Netflix will likely need to revise the password-sharing system before launching it worldwide. The company intends to extend the rollout at the end of 2022, in tandem with the launch of a cheaper ad-supported tier.


from https://ift.tt/VrPyeHa
via Technews
Share:

Temasek in talks to invest in Google-backed DotPe

Google-backed DotPe, which helps businesses in India go online and sell digitally, is in advanced stages of talks to raise about $50 million in a new financing round, a source familiar with the matter told TechCrunch.

Temasek, the Singapore state-owned investment firm, is finalizing deliberations to lead the investment in the Gurgaon-headquartered startup, the source said, requesting anonymity as the details are private.

Terms of the investment could change and the deal may end up not materializing at all, the source cautioned. Temasek declined to comment, while DotPe did not respond to a request for comment.

The two-year-old startup, which also counts PayU and Info Edge Ventures as its backers, also helps brick and mortar stores get visibility on Google Search. Restaurants, which are some of the customers of DotPe, use the startup’s offering to scan their inventories to make them digitally accessible via WhatsApp.

These offerings puts DotPe chasing a similar set of audiences as other startups including Zomato, Swiggy and Dukaan.

“DotPe provides a WhatsApp link which opens a restaurant menu and you can order directly and don’t have to go to Zomato / Swiggy. DotPe works with small merchants across other categories –food delivery , apparel ecommerce, pharma,” analysts at Bernstein wrote in a report last year. “DotPe doesn’t do its own delivery but will work with delivery partners for last mile delivery.”


from https://ift.tt/wqRtlnp
via Technews
Share:

HitPay is a one-stop solution for SMEs

HitPay has almost everything SMEs need to run their businesses.

In addition to being an online payment gateway, it also offers tools like point-of-sale software with card readers, plugins, payment links and no-code online stores.

The Y Combinator alum announced today that it has raised $15.75 million in Series A funding led by Tiger Global, with participation from returning investors Global Founders Capital and HOF Capital. It is currently used by over 10,000 merchants in Singapore and Malaysia, with plans to expand into more Southeast Asian markets, including Thailand, Indonesia and the Philippines.

Co-founder and CEO Aditya Haripurkar told TechCrunch HitPay started in 2016 as an e-wallet, but then pivoted toward being a SME-facing platform in 2018 as a virtual POS product. As its team began to understand the needs of SMEs more, it started to develop the other tools on the platform.

HitPay’s Series A funding will be used for building a payments infrastructure from the ground up, with the intention of saving SMEs money and helping them expand their business. This will include business tools and payments infrastructure that includes all commonly used payment rails in each market, including bank transfers, cards, e-wallets and BNPL services.

“SMEs have very specific requirements, so we wanted to build a one-stop no code platform,” said Haripurkar. “That entails all our plugins, point of sale software, business software, online stores and recurring payments. We’ll be focusing on building these free SaaS tools in addition to building up payment rails, which are focused currently on Singaporean and Malaysian merchants. But in each country we launch in, that will look very different, so we will look at local payment methods in every country. That’s the biggest challenge for our team and where most of our investment and time is going as well.”

The first step HitPay will take as it expands into new countries is to get regulated in each market it operates in, to allow it to build payment infrastructure for SMEs from the ground up. Then it will integrate the most popular payment methods. For example, in Singapore, HitPay currently works with about 10 to 15 payment methods.

HitPay’s no-code platform allows SMEs to unify their online and offline payment stacks. It is typically used by medium-sized businesses, with annual revenue between $500,000 to $2 million. Most are in the retail segment, but Haripurkar expect that to evolve as well.


from https://ift.tt/eH9cOSl
via Technews
Share:

Zinc heads towards new $41M tech-for-good fund to back pre-team talent solving big problems

So-called “tech for good” accelerators addressing such worthy-sounding subjects as ESGs and SDGs have appeared in the last few years. Some observers have dismissed these efforts as scalable only put to a point. However, the evidence is mounting that they are increasingly attracting some of the world’s best talent, because the world’s best talent does actually want to solve some of the planet’s biggest problems. And where the talent goes, the money and backing will follow. In Europe, Entrepreneur First (EF) and Antler have tried to scale their models as ‘talent investors’, while the Bethnal Green Ventures fund was even acquired and re-capitalized by its new owners.

Clearly this approach is on something of a roll.

Zinc is an accelerator which appeared back in 2017 when it was founded Ella Goldner, Paul Kirby and Saul Klein (LocalGlobe founder) and backed by its early investors including the London School of Economics. It went on to back over 220 diverse founders who built more than 60 ventures, such as Vira Health (menopause support), Tandem (transportation for workers), Pexxi (personalised contraception pills), and Untangle (grief support). As you can see, it is indeed possible to create businesses that address what, to some, might seem like intractable problems.

Zinc has now hit the first £28m ($34m) close of a new fund, and is aiming for a final close of £33m ($41m), to invest in startups build commercial solutions to some of society’s biggest challenges. Zinc will invest up to £250,000 in each of the companies created. 

Zinc 2 Fund will back talent which (similar to EF) is pre-team and pre-idea, to build these startups. The cohort draws in talent focused on four missions: mental health, the environment, improving the quality of later life, and helping people impacted by automation and globalisation. Zinc and the entrepreneurs share a conviction that each of these missions is a big opportunity for both social impact and commercial success.

Goldner, co-founder of Zinc, said in a statement: “Rather than waiting for good companies to appear, Zinc helps individuals (before they have a business idea or a team) to build from scratch a new commercially-ambitious company to solve the social challenge that they are most passionate about.”

“Typically,” she says “those individuals are 10 to 20 years into their career, but are frustrated that they are not having the social impact they want… Zinc brings these groups together to combine social impact and commercial skills.”

The individuals chosen by Zinc join a cohort of up to 70 people who all share the same mission and access a 12 month programme of support and investment. Each of our programmes has 100 Visiting Fellows and a network of partners.

Givent the “Great Resignation” post pandemic, Zinc thinks it will attract those re-evaluating their careers.

Paul Kirby, co-founder of Zinc, says “Our missions are a call to arms: ‘Who wants to quit their jobs and spend the next decade or more solving this problem?’”

Some of the examples of the founders who have built a venture with Zinc include Dr Rebecca Love, the co-founder of Vira Health which has raised $14m of VC funding, and Alex Shapland Howes of Tandem which has raised £2m.

Other investors in Zinc’s new fund include Big Society Capital, Molten Ventures, Isomer, Dunhill Medical Trust, Atomico, Anthemis Group, Taavet Hinrikus from Taaven+Sten, Illka Paannan (Supercell), Basecamp, Sarah Wood and Stuart Roden.

The founders Zinc backed in its most recent venture builder programme are over 50% women, 15% Black, with an average age of 38.


from https://ift.tt/Fw7ts6J
via Technews
Share:

Max Q: Mines and metals

Hello and welcome back to Max Q. There is SO much news this week, so let’s dive in.

In this issue:

  • Astroforge’s asteroid mining ambitions
  • Boeing’s Starliner comes home
  • News from Virgin Orbit, Rocket Lab and more

Don’t forget to sign up to get the free newsletter version of Max Q delivered to your inbox.

Astroforge closes $13M seed plus round for asteroid mining plans 

Although we’ve long understood that asteroids are not simply the rubble of the universe, but potentially profitable stores of precious minerals, humanity has never been able to unlock this value. Y Combinator startup Astroforge wants to succeed where other companies have failed, by becoming the first to mine an asteroid and bring the material back to Earth — and it’s aiming to do so as early as the end of the decade. (Yes, that is not a typo — end of the decade!)

To start, Astroforge will be conducting a tech demonstration mission sometime next year. The company’s already booked a spot on a SpaceX Falcon 9 rideshare mission, and it has also contracted a deal with OrbAstro to manufacture the satellite. But for now, the startup is staying mum on the actual details of the payload, and how they will solve the myriad technical challenges for which asteroid mining is so notorious.

“We now need to build a world-class team to go after this, as it’s a really hard problem to solve,” co-founder Matt Gialich said. Later in the conversation, he added, “That’s the fun part of startups, right? It’s a big risk until you go do it.”

asteroid on path to earth

Near-Earth asteroid, computer artwork. Image Credits: Science Photo Library – ANDRZEJ WOJCICKI / Getty Images

Starliner returns to Earth, completing successful test flight

Welcome back, Starliner! The spacecraft touched down in New Mexico on Wednesday, successfully concluding a six-day mission and the craft’s first successful test flight. As TC’s Devin Coldewey writes, even though not everything went exactly as planned, “this success may establish Boeing as a much-needed second provider of commercial ISS launch capabilities.”

During a post-launch briefing, NASA commercial crew program manager Steve Stich called the landing “picture perfect.”

Next up is a Crew Flight Test (CFT), which will carry astronauts and, for that reason, will be much higher stakes. The date of that launch will likely not be set for several months.

Animation of Starliner floating under three parachutes.

Image Credits: Boeing / NASA / YouTube

More news from TC

  • The Diffractive Solar Sailing project was awarded $2 million from NASA to develop diffractive solar sails, a kind of space propulsion that’s not dissimilar to how sails propel boats.
  • Planet, BlackSky and Maxar are poised to get billions in government contracts from the National Reconnisance Office, an agency of the Department of Defense that operates intelligence satellites. “The NRO has a long-standing strategy of ‘buy what we can, build what we must,’” said NRO director Chris Scolese in a press release.
  • Starlink has added a new “RV” plan to provide coverage for stationary RVs at parking spots, camping grounds and RV parks. It comes in at $135 per month, plus the cost of hardware. SpaceX’s internet service now has more than 400,000 global subscribers (!!!).

…and beyond

  • Amazon‘s AWS announced the 10 startups selected to participate in its 2022 Space Accelerator. See the full list here.
  • Astroscale’s U.K. arm got a funding boost to the tune of around $15.9 million from OneWeb and the European Space Agency to launch its orbital debris servicer ELSA-M toward the end of 2024.
  • Benchmark Space Systems opened a U.K. facility, the latest sign that the European space industry is ready to catch up to ours here in the States.
  • Citi released a 92-page report on the space industry, estimating that it will generate $1 trillion in revenue by 2040. The banking group speculated the satellite market will continue to dominate, but the fastest growth will come from “new space applications and industries” like space logistics and asteroid/moon mining.
  • Firefly Aerospace will likely target a July 17 launch for its Alpha rocket from NASA’s Vandenberg Space Force Base, providing all goes according to plan with regulators, Eric Berger reports.
  • Gama, a French space startup, has partnered with NanoAvionics for the satellite bus, integration and launch services, and satellite operations, for a demonstration mission of Gama’s solar sails propulsion system.
  • Launcher, a rocket startup, won a contract from the U.S. Space Force valued at $1.7 million to further develop its debut rocket engine.
  • Lunar Outpost, a Colorado-based startup focused on robots and rovers for the moon, closed a $12 million seed round led by Explorer 1 Fund with participation from Promus Ventures, Space Capital, Type One Ventures and Cathexis Ventures.
  • NASA is targeting June 6 for the second wet dress rehearsal attempt of Space Launch System, the launch vehicle that will blast off for the agency’s first Artemis mission. Rewatch the media briefing here. 
  • Open Cosmos, a U.K.-based space-tech firm, launched a new platform called DataCosmos to “provide advanced visualisation and data usage tools,” the company said in a news release.
  • Orienspace, a Chinese rocket company, closed a $59.9 million Series A led by HikeCapital. The company joins an increasingly crowded group of startups in China looking to develop launch vehicles.
  • Relativity Space is hard at work transforming Cape Canaveral’s Launch Complex 16 into the site that will launch the company’s 3D-printed Terran 1 rocket by the end of this year.
  • Space Perspective, a startup that wants to launch tourist rides on stratospheric balloons, closed $17 million in new funding, bringing its total funding to date to over $65 million.
  • SpaceX launched Transporter-5 on Wednesday, carrying 59 spacecraft on a booster that’s seen eight missions (including this one). Customers include HawkEye 360, Spire and Satellogic. The rocket was also carrying a demonstration mission for Nanoracks, which is testing cutting metal in space. (Look out for a follow-up story soon.) Rewatch the launch here.
  • Stratolaunch debuted its “structurally complete” test hypersonic launch vehicle, Talon-A. The vehicle will be used to validate the release system of the Roc aircraft carry (to which Talon-A will be attached). See photos here.
  • Ubotica Technologies raised $4.2 million in seed funding led by Atlantic Bridge with investment from Dolby Family Ventures and Seraphim Space. The Irish startup is developing an on-board processing system for satellites.
  • Varda Space Industries, a startup that wants to build in-space manufacturing facilities, has ordered a fourth Photon spacecraft from Rocket Lab. Photon will provide all the relevant infrastructure (like propulsion, power and attitude control) for Varda’s 120 kg manufacturing payload. It will also return to Earth in a re-entry capsule any products manufactured by Varda.

Photo of the week

I loved this photo, tweeted out by Relativity Space, of Terran 1’s second stage crossing state lines. If all goes to plan, Terran 1 will make its first orbital launch attempt by the end of this year. Image Credits: Relativity Space (opens in a new window)

Max Q is brought to you by me, Aria Alamalhodaei. If you enjoy reading Max Q, consider forwarding it to a friend. 


from https://ift.tt/7fIsJiA
via Technews
Share:

Partner sessions at TC Sessions: Climate offer knowledge and insight

We’re just about two weeks away from our first foray into climate tech at TC Sessions: Climate & The Extreme Tech Challenge 2022 Global Finals on June 14 in Berkeley, California — with an online day to follow on June 16. It’s going to be an epic day all around for many reasons — did you know that Bill Gates is one of the featured speakers?

Don’t miss this opportunity to hear from and engage with the new wave of climate-tech entrepreneurs, early-stage founders, CEOs, scientists, researchers, engineers and the VCs who fund them.

You know what else you can’t afford to miss? Our 2-for-1 pass Memorial Day sale — it ends tonight at 11:59 pm (PT). Buy your pass now and save!

Pro Tip: Yes, TechCrunch editors will interview the leading voices in the fight against climate-change (check out the event agenda), but we’d be doing you a disservice if we didn’t remind you about our partner breakout sessions.

These expert-led, topic-specific partner sessions give you time to lean in, get more answers, discover new opportunities and connect with companies that support early-stage climate-tech startups. 

Take a look at this impressive group of partners and what they’ll discuss. They’re ready with knowledge and resources to help you build a successful startup.

Powering the Future Through Transformative Tech

This panel jumps into the breakthrough tech innovations that are transforming industries to build a radically better world. How can business, government, philanthropy, and the startup community come together to create a better tomorrow? Hear from these seasoned investors and industry veterans about how technology can not only shape the future, but also where the biggest opportunities lie. Sponsored by XTC.

Speakers:
Jamey Butcher (CEO & President, Chemonics International), Philipp Gruener (Global Head of Due Diligence, Decisive Capital Management SA), Victoria Slivkoff (Executive Managing Director, Extreme Tech Challenge), & Bill Tai (Angel Investor; Partner Emeritus CRV; Co-Founder, Extreme Tech Challenge)

Reducing your cloud computing climate impact

Making the choice to deploy to the cloud is clearly the better choice for the climate, but you can further reduce your emissions by taking a couple of key steps. You are invited to attend this session to learn more about how the tech community is helping to mitigate climate change and a simple strategy to reduce your carbon footprint in the cloud. Sponsored by Platform.sh

Speakers:
Fred Plais (Co-Founder & CEO, Platform.sh)

TC Sessions: Climate 2022 takes place on June 14 in Berkeley, California (with an online day June 16). Be sure to soak up the knowledge waiting for you in our partner breakout sessions. And don’t wait another second to buy your pass — the Memorial Day 2-for-1 sale ends tonight at 11:59 pm (PT). Go forth and save!

Is your company interested in sponsoring or exhibiting at TC Sessions Climate 2022? Contact our sponsorship sales team by filling out this form.


from https://ift.tt/7YAlhbW
via Technews
Share:

Perceptron: Risky teleoperation, Rocket League simulation, and zoologist multiplication

Research in the field of machine learning and AI, now a key technology in practically every industry and company, is far too voluminous for anyone to read it all. This column, Perceptron (previously Deep Science), aims to collect some of the most relevant recent discoveries and papers — particularly in, but not limited to, artificial intelligence — and explain why they matter.

This week in AI, researchers discovered a method that could allow adversaries to track the movements of remotely-controlled robots even when the robots’ communications are encrypted end-to-end. The coauthors, who hail from the University of Strathclyde in Glasgow, said that their study shows adopting the best cybersecurity practices isn’t enough to stop attacks on autonomous systems.

Remote control, or teleoperation, promises to enable operators to guide one or several robots from afar in a range of environments. Startups including Pollen Robotics, Beam, and Tortoise have demonstrated the usefulness of teleoperated robots in grocery stores, hospitals, and offices. Other companies develop remotely-controlled robots for tasks like bomb disposal or surveying sites with heavy radiation.

But the new research shows that teleoperation, even when supposedly “secure,” is risky in its susceptibility to surveillance. The Strathclyde coauthors describe in a paper using a neural network to infer information about what operations a remotely-controlled robot is carrying out. After collecting samples of TLS-protected traffic between the robot and controller and conducting an analysis, they found that the neural network could identify movements about 60% of the time and also reconstruct “warehousing workflows” (e.g., picking up packages) with “high accuracy.”

Teleoperations

Image Credits: Shah et al.

Alarming in a less immediate way is a new study from researchers at Google and the University of Michigan that explored peoples’ relationships with AI-powered systems in countries with weak legislation and “nationwide optimism” for AI. The work surveyed India-based, “financially stressed” users of instant loan platforms that target borrowers with credit determined by risk-modeling AI. According to the coauthors, the users experienced feelings of indebtedness for the “boon” of instant loans and an obligation to accept harsh terms, overshare sensitive data, and pay high fees.

The researchers argue that the findings illustrate the need for greater “algorithmic accountability,” particularly where it concerns AI in financial services. “We argue that accountability is shaped by platform-user power relations, and urge caution to policymakers in adopting a purely technical approach to fostering algorithmic accountability,” they wrote. “Instead, we call for situated interventions that enhance agency of users, enable meaningful transparency, reconfigure designer-user relations, and prompt a critical reflection in practitioners towards wider accountability.”

In less dour research, a team of scientists at TU Dortmund University, Rhine-Waal University, and LIACS Universiteit Leiden in the Netherlands developed an algorithm that they claim can “solve” the game Rocket League. Motivated to find a less computationally-intensive way to create game-playing AI, the team leveraged what they call a “sim-to-sim” transfer technique, which trained the AI system to perform in-game tasks like goalkeeping and striking within a stripped-down, simplified version of Rocket League. (Rocket League basically resembles indoor soccer, except with cars instead of human players in teams of three.)

Rocket League AI

Image Credits: Pleines et al.

It wasn’t perfect, but the researchers’ Rocket League-playing system, managed to save nearly all shots fired its way when goalkeeping. When on the offensive, the system successfully scored 75% of shots — a respectable record.

Simulators for human movements are also advancing at pace. Meta’s work on tracking and simulating human limbs has obvious applications in its AR and VR products, but it could also be used more broadly in robotics and embodied AI. Research that came out this week got a tip of the cap from none other than Mark Zuckerberg.

Simulated skeleton and muscle groups in Myosuite.

Simulated skeleton and muscle groups in Myosuite.

MyoSuite simulates muscles and skeletons in 3D as they interact with objects and themselves — this is important for agents to learn how to properly hold and manipulate things without crushing or dropping them, and also in a virtual world provides realistic grips and interactions. It supposedly runs thousands of times faster on certain tasks, which lets simulated learning processes happen much quicker. “We’re going to open source these models so researchers can use them to advance the field further,” Zuck says. And they did!

Lots of these simulations are agent- or object-based, but this project from MIT looks at simulating an overall system of independent agents: self-driving cars. The idea is that if you have a good amount of cars on the road, you can have them work together not just to avoid collisions, but to prevent idling and unnecessary stops at lights.

Animation of cars slowing down at a 4-way intersection with a stoplight.

If you look closely, only the front cars ever really stop.

As you can see in the animation above, a set of autonomous vehicles communicating using v2v protocols can basically prevent all but the very front cars from stopping at all by progressively slowing down behind one another, but not so much that they actually come to a halt. This sort of hypermiling behavior may seem like it doesn’t save much gas or battery, but when you scale it up to thousands or millions of cars it does make a difference — and it might be a more comfortable ride, too. Good luck getting everyone to approach the intersection perfectly spaced like that, though.

Switzerland is taking a good, long look at itself — using 3D scanning tech. The country is making a huge map using UAVs equipped with lidar and other tools, but there’s a catch: the movement of the drone (deliberate and accidental) introduces error into the point map that needs to be manually corrected. Not a problem if you’re just scanning a single building, but an entire country?

Fortunately, a team out of EPFL is integrating an ML model directly into the lidar capture stack that can determine when an object has been scanned multiple times from different angles and use that info to line up the point map into a single cohesive mesh. This news article isn’t particularly illuminating, but the paper accompanying it goes into more detail. An example of the resulting map is visible in the video above.

Lastly, in unexpected but highly pleasant AI news, a team from the University of Zurich has designed an algorithm for tracking animal behavior so zoologists don’t have to scrub through weeks of footage to find the two examples of courting dances. It’s a collaboration with the Zurich Zoo, which makes sense when you consider the following: “Our method can recognize even subtle or rare behavioral changes in research animals, such as signs of stress, anxiety or discomfort,” said lab head Mehmet Fatih Yanik.

So the tool could be used both for learning and tracking behaviors in captivity, for the well-being of captive animals in zoos, and for other forms of animal studies as well. They could use fewer subject animals and get more information in a shorter time, with less work by grad students poring over video files late into the night. Sounds like a win-win-win-win situation to me.

Illustration of monkeys in a tree being analyzed by an AI.

Image Credits: Ella Marushenko / ETH Zurich

Also, love the illustration.


from https://ift.tt/LwsfAgd
via Technews
Share:

One AI raises $8M to curate business-specific NLP models

Whether to power translation to document summarization, enterprises are increasing their investments in natural language processing (NLP) technologies. According to a 2021 survey from John Snow Labs and Gradient Flow, 60% of tech leaders indicated that their NLP budgets grew by at least 10% compared to 2020, while a third said that spending climbed by more than 30%.

It’s a fiercely competitive market. Beyond well-resourced startups like OpenAI, Cohere, AI21 Labs, and Hugging Face and tech giants including Google, Microsoft, and Amazon, there’s a new crop of vendors building NLP services on top of open source AI models. But Yochai Levi isn’t discouraged. He’s one of the co-founders of One AI, an NLP platform that today emerged from stealth with $8 million led by Ariel Maislos, Tech Aviv, Sentinel One CEO Tomer Wiengarten, and other unnamed venture firms and angel investors. 

“While the market is growing fast, advanced NLP is still used mainly by expert researchers, big tech, and governments,” Levi told TechCrunch via email. “We believe that the technology is nearing its maturity point, and after building NLP from scratch several times in the past, we decided it was time to productize it and make it available for every developer.”

One AI

Image Credits: One AI

Levi lays out what he believes are the major challenges plaguing NLP development. It’s often difficult to curate open source models, he argues, because they have to be matched both to the right domain and task. For example, a text-generating model trained to classify medical records would be a poor fit for an app designed to create advertisements. Moreover, models need to be constantly retrained with new data — lest they become “stale.” Case in point, OpenAI’s GPT-3 responds to the question “Who’s the president of the U.S.?” with the answer “Donald Trump” because it was trained on data from before the 2020 election.

Levi believes the solution is a package of NLP models trained for particular business use cases — in other words, One AI’s product. He teamed up with CEO Amit Ben, CPO Aviv Dror, and CSO Asi Sheffer in 2021 to pursue the idea. Ben previously was the head of AI at LogMeIn after the company acquired his second startup, Nanorep, an AI and chatbot vendor. Dror helped to co-found Nanorep and served as a platform product manager at Wix. Sheffer, a former data scientist at Nanorep, was the principal data scientist at LogMeIn. As for Levi, he was the VP of online marketing at LivePerson and the head of marketing at WeWork.

One AI offers a set of models that can be mixed and matched in a pipeline to process text via a single API call. Each model is selected and trained for its applicability to the enterprise, Levi said, and automatically matched by the platform to a customer’s task and domain (e.g., conversation summarization, sales insights, topic detection, and proofreading). One AI’s models can also be combined with open source and proprietary models to extend One AI’s capabilities.

The platform’s API accepts text, voice, and video inputs of various formats. With One AI’s language studio, users can experiment with the APIs and generate calls to use in code.

“With the maturation of Language AI technologies, it is finally time for machines to start adapting to us,” Ben told TechCrunch via email. “The adoption of language comprehension tools by the broader developer community is the way to get there.”

One AI

Image Credits: One AI

One AI prices its NLP service across several tiers, including a free tier that includes processing for up to one million words a month. The stackable “growth tier” adds 100,000 words for $1.

The hurdle One AI will have to overcome is convincing customers that its services are more attractive than what’s already out there. In April, OpenAI said that tens of thousands of developers were using GPT-3 via its API to generate words for over 300 apps. But, with Fortune Business Insights pegging the NLP market at $16.53 billion in 2020, it could be argued that there’s a large enough slice of the pie for newcomers.

Added TehAviv founder and managing partner Yaron Samid: “Language is the most valuable untapped resource, beyond the reach of most products and companies. This is true to most industries and domains and results in negative outcomes that include everything from lost sales, to lower levels of user engagement and loyalty, to reputation damage. Unleashing Language AI allows us to harness the power of this unstructured data and turn it into useful information and insights.”

One AI says that a portion of the seed round proceeds will be put toward expanding its 22-person team, which includes 10 NLP data scientists.


from https://ift.tt/rIXnLgK
via Technews
Share:

Ayoken raises $1.4M to grow its NFT marketplace for creatives

Ayoken, an NFT marketplace for creatives, has raised $1.4 million pre-seed funding to enable users grow their revenue streams through digital collectibles.

The startup’s marketplace, Ayokenlabs, will feature digital collectibles from musicians, sports brands and influencers from all-over the world.

Ayoken founder and CEO, Joshua King, told TechCrunch that the marketplace is a bridge between fans and artists, and gives supporters a sense of ownership in the success of their idols.

Through the NFT marketplace, he said, fans will have access to tokens such as behind-the-scenes videos and album art. NFT holders will also get other perks like access to unreleased music and exclusive live events by the creatives.

“Through VIP passes, fans will get the ability to actually livestream music by these artists before it arrives on Spotify, YouTube or Apple Music. Fans will get discounts for future events too,” said King, who has 14 years’ experience in strategy, growth and innovation consultancy, and entrepreneurship. His career includes helping scale AZA (Bitpesa), a Nairobi-based platform that leverages bitcoin to facilitate cross-border remittances, and where he first got introduced to crypto and blockchain technology.

King said Ayoken will over the next few months release NFTs of some major African artists, and others across the world.

The London-headquartered startup has already partnered with Ghanaian afrobeats artist KiDi (Dennis Nana Dwamena) for his first NFT drop on the first day of June. King said the cross-chain marketplace (although currently built on Avalanche blockchain) allows crypto and card payments, but plans to add mobile money – as the startup makes it easier for people in emerging markets like Africa to trade with ease. King said they are negotiating partnerships with a number of telcos in the continent to make this a reality.

“We are reducing friction points for the users by letting people use their cards instead of having to use crypto to buy, we are working on partnerships with telcos that will allow people to use mobile money to make the payment in future too. Nothing comes close to what we are doing and that is why we are able to sign some of the biggest names in the creative industry,” he said.

Users will get token (Ayo) rewards when they buy the NFTs or refer people, which they can redeem later for an NFT.

King said, unlike other NFT marketplaces, they have distribution partners including YouTubers, influencers, newsletters, crypto exchanges, and telecoms to promote NFT drops – allowing the creatives to tap a wider audience, and not just their fanbase.

“What this means is that celebrities do not have to rely on their social media following to drive transactions. They get instant access to millions of people all around the world at the touch of a button. And our approach is so different to any other NFC marketplace on the planet. we also have a marketing agency to help these creatives succeed in their first NFT drops,” said King.

“They (distribution partners) will get a revenue share based on any transactions generated on their social media promotions”.

Using the funds raised from the investors, among them Founders Factory Africa, Texas-based Kon Ventures, Europe-based venture capital collective Crypto League, Ghana-based R9C Ventures and Maximus Ventures, Ayoken plans to sign a number of exclusive deals with artists and partnerships with telcos, besides growing its team and secondary marketplaces.

“A majority of the funding will go into buying exclusive licenses and into building our tech team, that is the developers and engineers by fourfold,” he said.


from https://ift.tt/43oAmLJ
via Technews
Share:

Betastore gets $2.5M to solve stock-outs, financing challenges for informal retailers in West and Central Africa

About 80% of household retail in sub-Saharan Africa is delivered through informal channels, which perennially face several challenges like stockouts, leading to an instability in earnings, and a lack of attractiveness to financiers. These challenges befall millions of micro-retailers across the continent, and Betastore, a B2B retail marketplace for informal retailers, is working to resolve in Nigeria, Ivory Coast and Senegal.

The Betastore marketplace enables informal traders to source fast moving consumer goods (FMCGs) directly from manufacturers or distributors – which keeps the prices of the products competitive by eliminating interactions with sales agents. It also works with logistics partners to ensure the delivery of goods within 24 hours.

The Nigeria-based startup plans to provide these services beyond its current three markets by expanding to Ghana, the Democratic Republic of Congo and Cameroon by the end of this year, after closing $2.5 million in pre-series A funding from 500 Global, VestedWorld, and Loyal VC. Betastore has to date raised $3 million in funding.

“What is really important for us is to be able to continue to scale by leveraging our asset-light model. We plan to enter new markets before the end of the year and to expand to 100 cities across Nigeria, Ivory Coast and Senegal. We are also planning to reinforce our technology and leadership teams, and to bring in new products and to improve existing ones,” said Betastore CEO, Steve Dakayi-Kamga, who co-founded the startup with Leo-Armel Tchoudjang mid 2020.

The asset-light model means Betastore does not have any capital and labor intensive assets like warehouses or its own fleet of vehicles for delivery. Dakayi-Kamga said that this has helped the startup to optimize its technology to ensure that retailers source goods from the closest distributors. On average, a retailer using Betastore makes 4.4 orders per month.

“Our technology enables retailers to order on demand, access a variety of products and solves logistics headaches for them too. With Betastore, they don’t have to close their shops to go get goods from distributors stores or the market, and do not have to lose close to half of the margins in in the logistics,” said Dakayi-Kamga, who previously worked for Jumia, where he led the e-commerce platform’s logistics, warehousing and marketplace fulfillment department.

The B2B ecommerce platform is set to introduce financing in July, a launch that follows a pilot program involving 200 retailers that the startup carried out last year.

The BNPL financing strategy, Tchoudjang says, will be based on retailers’ sales and will go a long way in helping them to grow the value of their shopping baskets, and ultimately their businesses. The startup plans to charge an interest based on product margins.

Betastore is currently integrating its technology into a network of financing partners including fintechs and banks.

“The mandate of some of the partners we have on board is to support the economy by financing small businesses, but are not able to lend to them because they do not have the data to inform decisions. We have the visibility of what is happening in this sector, and have data they can use to extend financing,” said Tchoudjang, who previously held executive and leadership roles within the IFC-backed AccessHolding AG network in Africa. He has also helped multinationals rollout fintech and microfinance products for emerging markets in the past.

Retailers use the Betastore wallet to repay loans, deposit money for their operations, and to send, receive and save money.

“The wallet helps them separate their business money from their own money, and it is directly connected to the whole banking system, meaning that retailers can receive and send money to any bank, and load cash with any agency banking platform,” said Tchoudjang.

Since launch, the startup claims to have grown its customer base and revenues by 10 and 12 times, respectively. The startup anticipates greater growth especially after entering more countries and rolling out its buy now pay later (BNPL) product, as it taps the retail market in sub-Saharan, which was valued at $380 billion in 2021, contributing 20-50% of the region’s GDP on average.

“We want to simplify access to goods and services for the retailers and for the end consumer because we see the merchant as an agent able to make access to goods and services easier. We started out in Nigeria, and we are expanding within Francophone Africa on our way to being a pan African player,” said Dakayi-Kamga.

Amit Bhatti, the principal at 500 Global while commenting on the latest funding round said, “We believe Betastore’s talented team is creating market efficiencies that have the potential to boost the growth of Africa’s retailers. With Betastore, merchants can get greater transparency into wholesaler inventories and price points.”


from https://ift.tt/ax8v4VM
via Technews
Share:

Berlin-based B2B BNPL platform Mondu raises $43M Series A led by Valar in the US

Given the likely global recession, small businesses are reaching for new kinds of financing. Thus, the Buy Now Pay Later business model is now expanding into this B2B world at a rate of knots. Playter has raised backing to do this, as has Hokodo, Billie and Tranch, to name a few other players. But in Germany, B2B Payments company Mondu has emerged as a significant entrant to the market.

Mondu has now raised a $43M Series A round led by US-based venture capital fund Valar Ventures, and will use the funding to expand into more European countries later this year.

Previous investors Cherry Ventures, FinTech Collective, and tech entrepreneurs and senior executives from Klarna, Zalando, and SumUp, also participated. The company has now raised $57M to date.

Mondu’s BNPL for B2B solutions for merchants and marketplaces offers the main payment B2B payment options and flexible payment terms.

Malte Huffmann, Co-Founder and Co-CEO of Mondu, said in a statement: “The concept of BNPL isn’t new in the B2B world; offline business trade has enjoyed it for decades. But as more companies increasingly move to digital, the need for BNPL for B2B online will grow immensely. We are on the verge of a “digitalization boom”, and Mondu wants to be part of that revolution and drive innovation within the B2B payments space.”

Philipp Povel, Co-Founder and Co-CEO of Mondu, said there is a “$200Bn opportunity just in Europe and the US, which is bigger than the global consumer BNPL market.”

Since October 2021, Mondu has signed merchant customers across industries such as beauty, cleaning and manufacturing. One example is Ionto Comed, a manufacturer in the beauty sector that supplies salons.

Andrew McCormack, Founding Partner of Valar Ventures, commented: “BNPL for B2B sits at the intersection of three huge markets that are all in transition. The B2B payments market is immense, and its transition to digital has been accelerated over the past couple of years. The B2B eCommerce market is larger than B2C but is underserved by current offerings, and supply chain financing is a growing need, particularly for SMBs.”

Mondu will have to expand quickly. Berlin-based Billie has raised €138.2M so far, and Tranch in the UK has raised $5.6M.


from https://ift.tt/eufqKaR
via Technews
Share:

Indonesia’s Astro raises $60M to work on 15-minute grocery delivery

Indonesia’s sprawling archipelago has long been a headache for logistics companies, but there’s no lack of brave challengers. Jarkata-based Astro, which provides 15-minute grocery delivery, has recently closed a $60 million Series B financing round, lifting its total funding to $90 million since the business launched just nine months ago.

The Series B round was led by Accel, Citius and Tiger Global, with participation from existing investors AC Ventures, Global Founders Capital, Lightspeed and Sequoia Capital India. The company declined to disclose its post-money valuation.

The speed at which Astro is attracting investment goes to show the need for hefty upfront investment in the grocery delivery race, which is about establishing a logistics infrastructure quickly and locking in loyal customers ahead of rivals. Founded by Tokopedia veteran Vincent Tjendra, Astro plans to spend its funding proceeds on user acquisition, product development, and hiring more staff to add to its current team of 200.

As in many countries around the world, on-demand delivery got a boost during the COVID-19 pandemic in Indonesia. But e-grocery penetration in the country remains low and is estimated to be just 0.5% by 2022, compared to China’s 6% and South Korea’s 34% in 2020.

That means there’s a huge opportunity for companies like Astro that are trying to prove the convenience of online grocery ordering over brick-and-mortar visits. The e-grocery delivery market in Indonesia is projected to reach $6 billion by 2025.

Astro offers 15-minute delivery within a range of 2-3km through its network of rented “dark stores,” which are distribution hubs set up for online shopping only. The company has opted for a cash-intensive model, as it owns the entire user journey going from inventory sourcing, supply chain, mid-mile, to last-mile delivery. The benefit of this heavyweight approach is that it gets to monitor the quality of customer experience.

Astro currently operates in around 50 locations across Greater Jakarta, an area with 30 million residents, through a fleet of about 1,000 delivery drivers. Revenues grew more than 10x over the past few months and downloads hit 1 million, the company said.

The startup is competing with incumbents like Sayurbox, HappyFresh, and TaniHub to win over users. Its customers range from working professionals to young parents at home “who seek convenience,” said Tjendra.

Grocery delivery is notoriously cash-burning, but Tjendra reckoned margins will improve as the business scales. The company’s main source of revenue is the gross margin it earned from the goods sold and delivery fees customers pay. A large chunk of the business’s costs comes from delivery, which the founder believed “will come down over time as we deploy for hubs and subsequently reduce the delivery distance areas.”


from https://ift.tt/01y6zWX
via Technews
Share:

Popular Post

Search This Blog

Powered by Blogger.

Labels

Labels

Most view post

Facebook Page

Recent Posts

Blog Archive