<div>
  <ul>
    <li>
      <p>
        ByteDance&rsquo;s VR subsidiary Pico is estimated to have laid off 20&ndash;30% of its workforce, although Pico revealed that the company&rsquo;s actual layoff ratio is lower than third-party estimates.
      </p>
    </li>
    <li>
      <p>
        The layoffs come amidst difficulty in listing the PICO 4 Pro headset, whose launch was postponed to April/May 2023 following lapses in development time. Pico is also rumored to have incurred losses of 1,000&ndash;3,000 yuan (~USD 145-435) per headset sold alongside rumors of the Pico 4 failing to meet internal sales targets and staff disputes.
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake: </b>
        Pico is reportedly facing a round of layoffs that could cause a further delay in the launch of its new PICO 4 Pro headset. The news follows Pico's announcement in 
        <a href="https://sp-edge.com/updates/16413">
          February 2023
        </a>
         of its compatibility with the OpenXR protocol, which came much later than its competitors. In addition, the rumored losses on Pico headsets and layoffs could further affect Pico's competitive position in relation to Meta, with possible plans to ship its products to the US being impacted by the developments.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://pandaily.com/pico-starts-small-scale-layoffs-new-products-to-be-unveiled-in-april/">
      Pandaily
    </a>
  </p>
  <p>
    <a href="https://mixed-news.com/en/bytedance-vr-division-pico-lays-off-hundreds-of-employees-report/">
      Mixed Reality News
    </a>
  </p>
  <p>
  </p>
</div>


Extended Reality

ByteDance VR subsidiary Pico announces layoffs with rumored losses on headsets

The toolkit to build machine learning applications at scale

Machine Learning Infrastructure

ANALYST_QUICK_TAKE

<div>
 <p>Kneron, an AI chip manufacturer, aims to raise USD 300 million in its latest funding round, potentially bringing its evaluation to USD 1 billion. The company has received investments from Qualcomm Ventures, Sequoia Capital China (now HongShan), Hon Hai Precision Industry Co., and Horizons Ventures in the past.<p>
  
<p>With this new funding, Kneron plans to fuel product innovation and expansion plans that include establishing a regional office and an R&D lab in Saudi Arabia. The round is likely to be its last before the company's expected public listing in 2025.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The surging demand for AI chips has helped Kneron to raise significantly more funding than its USD 49 million Series B funding raised in <a href="https:<br>
//sp-edge.com/updates/22177"> September 2023 </a> . Additionally, funding proceeds from last year helped the company launch its new KNEO 330 AI chip for on-premise AI applications in <a href="https:<br>
//sp-edge.com/updates/30098"> June 2024 </a> .</p>

AI chip maker Kneron seeks USD 300 million in funding from investors

Empowering Tomorrow's Innovations with Generative AI Infrastructure

Generative AI Infrastructure

<div>
 <p>AI chip manufacturer Kneron is reportedly seeking to raise approximately USD 300 million in a new funding round. This significant investment would place the value of the Taiwanese-American company at an estimated USD 1 billion. In the previous funding rounds, Kneron received support from renowned investors such as Qualcomm Ventures, Sequoia Capital China (now known as HongShan), Hon Hai Precision Industry Co., and Horizons Ventures.</p>
 <p>Kneron plans on allocating the funds towards the advancement of product innovation and company expansion. One of the company's more specific objectives include the creation of a regional office and a research &amp; development lab located in Saudi Arabia. This fundraising is projected to be the final private round for Kneron, as it plans to pursue a public listing in 2025.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> The surging demand for AI chips has helped Kneron to raise significantly more funding than its USD 49 million Series B funding raised in <a href="https:<br>
//sp-edge.com/updates/22177"> September 2023 </a> . Additionally, funding proceeds from last year helped the company launch its new KNEO 330 AI chip for on-premise AI applications in <a href="https:<br>
//sp-edge.com/updates/30098"> June 2024 </a> .</p>

Sustainably solving the food shortages of the future

Smart Farming

ZenaTech acquires ZooOffice Inc. with subsidiaries Jadian and DeskFlex for undisclosed sum

<div>
 
 <p>Agricultural technology firm, Meristem, has received growth funding from private asset growth investor, Bridgepoint. The net worth of the deal, closed in October 2024, however, remains undisclosed. Meristem operates in the US biologicals market for row crops, claiming it to be the fastest-growing agricultural inputs market.</p>
 <p>The funding is projected to back its plans for international expansion, especially in Europe and Latin America. The company also plans to utilise the funds for introducing new product combinations, expanding its consumer base and boosting IP development capabilities.</p>
 <p>Meristem, since its establishment in 2018, currently has a workforce of about 60 employees, catering to over 10 million acres of various crops including corn and soybean.</p>
 
</div>

Meristem raises undisclosed amount in growth funding from Bridgepoint

Reinforcing recycling, rerouting refuse, and reducing wasteflows

Waste Recovery & Management Tech

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
 
 <p>WRAP, a sustainability organization in the UK, has collaborated with retailer Primark for a three-year project to improve textile donation strategies and boost circular economy practices.</p>
 <p>This collaboration involves the Behaviour Change subsidiary of WRAP contributing its knowledge in behavioural sciences, with Yellow Octopus acting as an advisory partner. The collaboration has a goal of closing the consumer awareness gap in textile donation strategies.</p>
 <p>Primark, as part of this partnership, has committed to ensuring its clothes are recyclable by design by 2027. This builds on their involvement in WRAP's Sustainable Clothing Action Plan since 2016. The aim of this project is to decrease the carbon footprint of the textile industry by half by 2030.</p>
 
</div>

WRAP partners with Primark to improve textile recycling and circular initiatives

<div>

<p>Heidelberg Materials, a UK company specialising in building materials, has opened a new concrete recycling facility near Katowice, Poland. The innovative site makes use of FCB Rhodax technology from Fives to recycle concrete that has been demolished.</p>

<p>The company has stated that the facility has capability of recycling all demolition concrete into aggregates, sand and cement paste that are of a high quality. Moreover, the FCB Rhodax technology reportedly allows control of the force used on the material bed. This results in excellent concrete component separation while maintaining their quality. It also complies with the European Standards for both recycled and virgin materials.</p>

</div>

Heidelberg Materials launches concrete recycling facility in Poland

Generating, collecting, and analyzing enterprise data will never be the same.

Edge Computing

<div>
 
 <p>Nokia and Lenovo have established a strategic alliance to create data center solutions specifically tailored for AI and ML workloads. This collaboration will combine Lenovo's ThinkSystem AI-ready servers and storage with Nokia's data center networking facilities. It encompasses data center fabric, IP routing, Event-Driven Automation platform, and DDoS security portfolios as part of their integrated approach.&nbsp;</p>

</div> <p><b>Analyst QuickTake:<br>
</b> The combined solution aims to provide high-speed interconnectivity for AI clusters within and between data centers, improving data center capabilities by addressing the demanding compute, storage, and transit needs of AI and ML applications.</p>

Nokia partners with Lenovo to develop edge-ready AI data centers

<div>
 
 <p>ZEDEDA, a firm specializing in edge management and orchestration, has teamed up with OnLogic, an industrial computer production company. The collaboration resulted in the creation of OnLogic Powered by ZEDEDA, a blend of robust hardware and cloud-native edge orchestration software.</p>
 <p>The goal of this partnership is to decrease the deployment time and maintenance expenses connected with distributed edge infrastructure. Notably, the partnership highlights features such as application-agnostic design and extended solution lifecycles.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> ZEDEDA and OnLogic’s partnership reflects a broader trend toward integrating hardware and software to address the growing complexity of industrial edge computing. This partnership also follows ZEDEDA’s <a href="https:<br>
//sp-edge.com/updates/33945"> partnership with Edge Impulse </a> , initiated in September 2024, to accelerate AI deployment at the edge.</p>

ZEDEDA and OnLogic partner to launch integrated edge computing solution for industrial environments

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

<div>
 <p>WeRide, a Chinese tech company specializing in self-driving technology, has applied for an initial public offering (IPO) on Nasdaq. They aim to raise upwards of USD 119.4 million through the sale of 6.5 million American depositary shares, each priced between USD 15.5 and USD 18.5.</p>
 <p>In addition, there are plans from the company for a concurrent private placement, with the goal of raising a further USD 320.5 million.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> WeRide first announced filing for a US IPO in <a href="https:<br>
//sp-edge.com/updates/32038"> July 2024 </a> but was <a href="https:<br>
//asia.nikkei.com/Business/Markets/Chinese-self-driving-startup-WeRide-delays-U.S.-IPO"> postponed, </a> citing the need for time to complete the documentation processes. Today, we increasingly notice strategic moves by Chinese firms amid geopolitical tensions. Chinese regulators also allowed autonomous vehicle tech firms like <a href="https:<br>
//sp-edge.com/updates/28771"> Pony.ai </a> and <a href="https:<br>
//www.businesstimes.com.sg/startups-tech/china-approves-autonomous-driving-startup-momentas-us-ipo"> Momenta </a> to list in the US market, and <a href="https:<br>
//sp-edge.com/updates/30478"> Tesla got approval </a> to test its ADAS "Full Self-Driving (FSD)" software in Shanghai's Nanhui New City District, despite US-China tensions.</p>

WeRide files for US IPO

Novel therapies to reboot cells and organs

Cell & Gene Therapy

<div>
 <p>March Biosciences, a clinical-stage biotechnology company, has garnered USD 28.4 million in a Series A funding round. The round was led by Mission BioCapital and 4BIO Capital, and saw participation from KdT Ventures, Alexandria Venture Investments, and other existing investors. To date, the company's total funds raised amount to over USD 51 million.</p>
 <p>These newfound funds are set to further the Phase II clinical development of MB-105, the company's leading asset. This asset is geared towards the treatment of T-cell lymphoma, with trials projected to launch at the beginning of 2025. In addition, the funds will also aid the continuous advancement of undisclosed products within the company's pipeline.</p>
 <p>The company specializes in the development of chimeric antigen receptor T-cell (CAR-T) therapies, aimed at tackling challenging cancer types. March Biosciences was initially launched as a spinout, stemming from collaborations between the Center for Cell and Gene Therapy, Baylor College of Medicine, Houston Methodist Hospital, and Texas Children's Hospital.</p>
</div>

All Updates

ByteDance VR subsidiary Pico announces layoffs with rumored losses on headsets

AI chip maker Kneron seeks USD 300 million in funding from investors

AI chip maker Kneron seeks USD 300 million in funding from investors

ZenaTech acquires ZooOffice Inc. with subsidiaries Jadian and DeskFlex for undisclosed sum

Meristem raises undisclosed amount in growth funding from Bridgepoint

WRAP partners with Primark to improve textile recycling and circular initiatives

Heidelberg Materials launches concrete recycling facility in Poland

Nokia partners with Lenovo to develop edge-ready AI data centers

ZEDEDA and OnLogic partner to launch integrated edge computing solution for industrial environments

WeRide files for US IPO

March Biosciences raises USD 28.4 million in Series A funding to advance clinical trials

Extended Reality

ByteDance VR subsidiary Pico announces layoffs with rumored losses on headsets

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