<div>
  <ul>
    <li>
      <p>
        Modular, a platform for developing and optimizing AI systems, has raised USD 100 million in a funding round led by General Catalyst, with participation from Google Ventures (GV), SV Angel, Greylock, and Factory. The funding round brings Modular's total funds raised to USD 130 million.
      </p>
    </li>
    <li>
      <p>
        The funds will be used for product expansion, hardware support, and the expansion of Modular's programming language, Mojo.&nbsp;
      </p>
    </li>
    <li>
      <p>
        Formed in 2022, Modular aims to simplify the building, maintenance, and scaling of AI systems. Its flagship products include an engine that improves the inferencing performance of AI models deployed on CPUs, and Mojo, a programming language combining Python's usability with additional features like caching, adaptive compilation techniques, and metaprogramming. Mojo is currently available to a few early adopters, with plans to make it available next month.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://techcrunch.com/2023/08/24/modular-raises-100m-for-ai-dev-tools/">
      TechCrunch
    </a>
  </p>
  <p>
    <a href="https://finance.yahoo.com/news/ai-startup-modular-raises-100-154503078.html%5C">
      Reuters
    </a>
  </p>
  <p>
  </p>
</div>


Machine Learning Infrastructure

AI development platform Modular has raised $100 million in a funding round led by General Catalyst. Google Ventures, SV Angel, Greylock, and Factory also participated in the round. This brings Modular's total funds raised to $130 million. The funds will be used to expand the product, provide hardware support, and expand Modular's programming language, Mojo. Modular aims to simplify the development, maintenance, and scaling of AI systems. Its flagship products include an engine that improves AI model inferencing performance on CPUs, and Mojo, a programming language that combines Python's usability with additional features. Mojo will be made available to more users next month.

Modular secures USD 100 million to build tools to optimize and create AI models

Empowering Tomorrow's Innovations with Generative AI Infrastructure

Generative AI Infrastructure

ANALYST_QUICK_TAKE

<div>
 <p>Snowflake, a company specializing in cloud-based data and AI infrastructure, has agreed to acquire Datavolo, a provider of multimodal data pipelines for AI, for an undisclosed sum.</p>
 <p>Datavolo uses Apache NiFi, an open-source project initiated by the NSA, to develop a platform that streamlines data flows between enterprise data sources. Datavolo's technology is designed to process, extract, clean, transform, and enrich data for GenAI applications.</p>
 <p>In the wake of the acquisition, Snowflake intends to integrate Datavolo into its own platform, thereby enhancing its data engineering capacities. This will allow customers to swap out complex, direct connectors for more flexible and reusable pipelines. Snowflake also plans to continue maintaining the Apache NiFi project, while also aiming to expand its presence in the public sector.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> This strategic acquisition aligns with Snowflake's focus on the public sector and follows its previous acquisition of <a href="https:<br>
//sp-edge.com/updates/33819"> Night Shift Development </a> in September 2024. This move aimed to enhance decision-making for government agencies by establishing a dedicated entity for the US public sector, enabling new methods of collaboration with public organizations.</p>

Snowflake acquires Datavolo to enhance data integration capabilities for undisclosed sum

Data Infrastructure & Analytics

<div>
 <p>Snowflake, a company specializing in cloud-based data and AI infrastructure, has announced its intentions to acquire Datavolo, a firm that provides robust data pipelines for AI applications. The financial details of the agreement remain undisclosed.</p>
 <p>Datavolo makes use of Apache NiFi, an open-source project originally developed by the NSA, to design a platform that automates the movement of data between various enterprise data sources. Their technology handles processing, extraction, cleansing, transformation, and enrichment of data for GenAI applications.</p>
 <p>Post-acquisition, Snowflake intends to absorb Datavolo into its platform in a move to bolster its data engineering capabilities. This merger will enable Snowflake's customers to substitute complicated point-to-point connectors with versatile, reusable pipelines. Furthermore, Snowflake plans to continue the upkeep of the Apache NiFi project and looks forward to expediting its growth in the public sector.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> This strategic acquisition aligns with Snowflake's focus on the public sector and follows its previous acquisition of <a href="https:<br>
//sp-edge.com/updates/33819"> Night Shift Development </a> in September 2024. This move aimed to enhance decision-making for government agencies by establishing a dedicated entity for the US public sector, enabling new methods of collaboration with public organizations.</p>

Bringing fresh produce closer to consumers with efficient, advanced technology.

Vertical Farming

<div>
 
 <p>UK-based hydroponic vertical farm, GrowUp Farms, has appointed Mike Hedges as its new CEO. His role will involve driving the company's growth plans in the future.</p>
 <p>Hedges comes to GrowUp Farms with 20 years of experience from the food and beverage industry and has worked with brands like Proper, Tyrrells, Twinings, Bulmers, and was recently the CEO of Little Moons.</p>
 
</div>

GrowUp Farms appoints Mike Hedges as CEO

Modern tools to train and motivate staff, and bridge emerging skill gaps.

EdTech: Corporate Learning

<div>
 <p>Rise Up, a company that offers adaptive learning solutions, has acquired Yunoo, an ecommerce application developed for learning management systems. Yunoo's application helps training providers generate income from their content, by offering integrated tools for sales, customer management, and learner tracking. The platform also allows organizations to establish branded stores, capitalize on training content, and manage customer experiences.</p>
 <p>This acquisition aims to assist Rise Up in changing training from being an expense to a source of revenue. The integration means that Yunoo's features will only be accessible via Rise Up to new customers, while existing Yunoo users will continue to be able to use their current learning management system platform.</p>
</div>

Rise Up acquires Yunoo and expands LMS monetization capabilities

Travel Tech

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
 <p>Uber has introduced five new features to improve the airport travel experience during holidays: UberXXL, UberX Share at airports, new Uber Reserve features, Uber Shuttle updates at LaGuardia Airport, and a Home Screen Widget for iPhone users.</p>
 <p>The new features include UberXXL, providing larger trunk space for luggage at 60 global airports; UberX Share, enabling riders to split trips with another airport traveler in selected cities; the Flight Capture feature in Uber Reserve for flight tracking and scheduling; a new Uber Shuttle route from Manhattan to LaGuardia Airport; and an iPhone widget for quicker ride requests.</p>
 <p>Uber asserts these updates will allow smoother and more economical airport travel. UberX Share reportedly provides up to a 25% savings compared to regular UberX fares. Also, eligible Uber One members can receive USD 20 in Uber Cashback on UberXXL rides from November 20 to December 1.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This product development falls under Uber's growing effort to enhance its airport travel initiative. In <a href="https:<br>
//www.uber.com/en-AE/newsroom/uber-partners-with-dubai-airport-to-facilitate-visitor-influx-in-tourist-season-and-launches-new-travel-feature/"> January 2023, </a> Uber partnered&nbsp;with Dubai Airport to improve riders' on-ground commute experience when arriving in Dubai.</p>

Uber releases five new features for holiday travel season

<div>
 <p>Apaleo, a property management platform, has secured a growth equity funding of approximately USD 21 million led by PSG Equity. Other participators in the funding are Redalpine, FOMCAP IV, and Rockaway Ventures.</p>
 <p>This funding will help Apaleo to accelerate its international expansion, acquire a stronger presence across Europe and other global regions, and expand its team. The fund will also assist in further platform development and in expanding its reach in the accommodation and serviced living industries.</p>
 <p>Apaleo provides a cloud-based property management system (PMS) specially designed for the hospitality industry. The open platform includes features for managing reservations, accounting, and customers, and it is integrated with APIs and a marketplace of third-party applications.</p>
</div>

Apaleo raises EUR 20 million in growth equity funding to accelerate expansion

<div>
 <p>Acai Travel, an AI-focused travel startup, has collaborated with travel platform, Hopper. The aim of this partnership is to enhance efficiency in customer service operations.</p>
 <p>Through the partnership, Acai's AI technology will be leveraged to bolster the efforts of Hopper's call center representatives. The ultimate goal is to simplify processes and boost operational efficiency.</p> 
</div> <p><b>Analyst QuickTake</b> :<br>
 This collaboration follows Acai's recent USD 3.7 million seed funding in <a href="https:<br>
//sp-edge.com/updates/35789"> November 2024 </a> and adds to its existing customer base, which includes Globespan Travel Management.</p>

Acai Travel partners with Hopper to enhance call center operations with AI technology

Using AI to automate, enhance and optimize marketing activities

Marketing Automation

<div>
 <p>BrightEdge, a company specializing in AI-driven organic search and digital marketing automation, has incorporated new AI functions into its Data Cube X solution. Through this platform, clients can track and examine their brand's presence in Google AI Overview (AIO) search results.</p>
 <p>Data Cube X enables users to have real-time insight into their brand presence in Google AIO search outcomes. It observes changes in the digital footprint, pinpoints consumer touchpoints via search, and empowers content optimization for relevance and freshness. The solution is designed to work in conjunction with BrightEdge Copilot for crafting content and BrightEdge Autopilot for content structuring.</p>
 <p>BrightEdge explains that these fresh capabilities offer brands the opportunity to identify and respond to prospects in Google AIO, observe their AI presence development, and modify to the ever-changing AI search environment.</p>
</div>

BrightEdge releases AI capabilities to monitor and analyze brand presence in Google AI Overview search results

Artificial intelligence is identifying and testing new therapies faster than ever.

AI Drug Discovery

<div>
 
 <p>Drug discovery company Converge Bio has amassed USD 5.5 million in seed funding, with TLV Partners leading the round. The company plans to utilize these funds to further develop its large language model (LLM) platform.</p>
 <p>The LLM platform is capable of breaking down and interpreting biological and chemical data, thus significantly speeding up the drug development process. With this platform, Converge Bio helps biotech and pharmaceutical companies create more effective drugs in a shorter time frame.</p>
 <p>Their GenAI platform, which employs LLMs trained in the analysis of biological and chemical data like DNA, RNA, protein sequences, and small molecules, includes a library of base models for different biological languages. These models can be improved through a proprietary data enrichment pipeline. Hence, the platform offers solutions for designing improved antibodies, identifying new drug targets, and creating optimized mRNA vaccines.</p>
 
</div>

Converge Bio raises USD 5.5 million in seed funding to develop LLM model for drug discovery

<div>
 
 <p>Verge Genomics, a company specializing in AI-based neurological therapeutics, has hit a development milestone in its collaboration with Eli Lilly & Company. The partnership focuses on the development of treatments against two validated drug targets for amyotrophic lateral sclerosis (ALS). These potential drug targets were identified and validated through Verge's AI-enhanced tool, CONVERGE.</p>
 <p>CONVERGE, Verge's platform, utilizes AI and human data to discover and verify potential ALS drug targets. It provides insights into the disease and pinpoints potential targets for complex medical conditions, merging computational predictions with solid experimental data. In addition, Verge continues to progress its principal ALS drug candidate VRG50635, which is presently under evaluation in a Phase Ib proof-of-concept study in Canada and several European countries.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The partnership between Verge Genomics and Eli Lilly was first established in <a href="https:<br>
//sp-edge.com/updates/7418"> July 2021 </a> . The partnership aimed to research and develop novel therapies for treating ALS. Under the partnership, Verge agreed to use its all-in-human platform to discover and validate new targets for ALS, and Eli Lilly agreed to choose up to four targets to be advanced to clinical development and commercialization.</p>

All Updates

Modular secures USD 100 million to build tools to optimize and create AI models

Snowflake acquires Datavolo to enhance data integration capabilities for undisclosed sum

Snowflake acquires Datavolo to enhance data integration capabilities for undisclosed sum

GrowUp Farms appoints Mike Hedges as CEO

Rise Up acquires Yunoo and expands LMS monetization capabilities

Uber releases five new features for holiday travel season

Apaleo raises EUR 20 million in growth equity funding to accelerate expansion

Acai Travel partners with Hopper to enhance call center operations with AI technology

BrightEdge releases AI capabilities to monitor and analyze brand presence in Google AI Overview search results

Converge Bio raises USD 5.5 million in seed funding to develop LLM model for drug discovery

Verge Genomics to develop two ALS drug targets chosen by Eli Lilly ALS Therapeutics

Machine Learning Infrastructure

Modular secures USD 100 million to build tools to optimize and create AI models

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