<div>
 <ul>
 <li>
 
 IDEX Biometrics, a fingerprint sensor manufacturer, has completed a private placement, raising NOK 35 million (~USD 3.2 million).
 
 The proceeds will be used for commercialization, product development, market expansion, and general corporate purposes.
 
 </li>
 <li>
 
 In addition to the funding, to enhance efficiency further, the company plans to reduce expenses, targeting a quarterly operating expenditure of around USD 4 million as it moves toward commercialization.
 
 </li>
 <li>
 
 Earlier this month, IDEX Biometrics entered a 
 <a href="https://sp-edge.com/updates/23597">
 non-binding term sheet
 </a>
 with a new institutional investor group to issue a senior convertible bond for up to NOK 100 million (~USD 8.9 million). With the funds obtained from the Private Placement and potential Convertible Bond issuance, IDEX Biometrics expects to remain fully funded through 2024.
 
 </li>
 <li>
 
 Analyst QuickTake:
 Listed European biometric payment solutions providers have been taking measures to raise additional equity funding as they begin commercializing their products. Just last week, 
 <a href="https://sp-edge.com/updates/23682">
 Zwipe raised NOK 35.0 million 
 </a>
 (~USD 3.13 million) through a rights issue to strengthen its financial position for the commercialization of biometric cards in payments and access control.
 
 </li>
 </ul>
 
 
</div>

<div>
 
 <a href="https://www.globenewswire.com/news-release/2023/11/15/2781430/0/en/IDEX-Biometrics-ASA-Private-placement-of-NOK-35-million-successfully-placed-15-Nov-2023.html">
 Press release&nbsp;
 </a>
 
 
 
</div>

Biometric Payments

ANALYST_QUICK_TAKE

<div>
 <ul>
 <li>IDEX Biometrics has raised NOK 35 million (~USD 3.2 million) through a private placement. The funds will be used for commercialization, product development, market expansion, and general corporate purposes.</li>
 <li>To improve efficiency, the company plans to reduce expenses and target a quarterly operating expenditure of around USD 4 million as it moves towards commercialization.</li>
 <li>Recently, IDEX Biometrics agreed to a non-binding term sheet with a new institutional investor group to issue a senior convertible bond worth up to NOK 100 million (~USD 8.9 million). With the funds from the private placement and potential convertible bond issuance, IDEX Biometrics expects to remain fully funded through 2024.</li>
 </ul> 
</div> Analyst QuickTake: Listed European biometric payment solutions providers have been taking measures to raise additional equity funding as they begin commercializing their products. Just last week, <a href="https://sp-edge.com/updates/23682"> Zwipe raised NOK 35.0 million </a> (~USD 3.13 million) through a rights issue to strengthen its financial position for the commercialization of biometric cards in payments and access control.

IDEX Biometrics completes private placement of NOK 35 million (USD 3.2 million)

Building future-ready applications in the cloud

Cloud-native Tech

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>

Red Hat, an open-source solutions provider, has launched the Red Hat Enterprise Linux AI (RHEL AI) platform. This platform supports the development, testing, and deployment of GenAI models.
The RHEL AI includes IBM Research's Granite LLM and tools from the InstructLab model alignment based on the LAB methodology. Key features also comprise of an accessible open-source community, a bootable RHEL image for server deployments across hybrid clouds, and integration into Red Hat's OpenShift AI for scalable execution across distributed cluster environments.

</div> Analyst QuickTake: 
 Red Hat is positioning itself as a key player in the evolving AI ecosystem by focusing on open-source development, providing an end-to-end AI platform, embracing a hybrid cloud approach, and building partnerships to democratize AI innovation. This new product aims to lower barriers for developers to build and contribute to open-source AI models, aligning with their belief that the future of AI will depend on community-driven, open-source software.&nbsp;

Red Hat launches Red Hat Enterprise Linux AI platform

<div>
 Riverbed, an observability and analysis company, has released a new AI-powered observability platform. The platform is designed to tackle challenges in various IT setups such as public cloud, remote work, zero-trust architectures and SD-WAN architectures.
 The platform encompasses data across the IT structure of the customer from networks, IT infrastructure, applications, user experience to the cloud. It makes use of AI for processing and analyzing information from this data and third-party tools to pinpoint root causes and initiate automatic corrections.

</div>

Riverbed introduces AI-powered observability platform

Automation and robotics are finally creating solutions for the complexities of doorstep deliveries.

Last-mile Delivery Automation

<div>
 Autonomous vehicle technology developer, Motional, is postponing its plans for a commercial driverless robotaxi service from 2024 to 2026. This change is resultant from a restructuring process the company is undergoing in order to refine its technology, business model, and preserve funds.
 In addition to this, restructuring will also lead to a decrease in employee count. The company is yet to declare the exact figure of staff members affected by this decision.
 Motional is suspending its operations, including autonomous rides in Las Vegas which were provided through<a href="https://sp-edge.com/updates/13614"> Uber </a> , <a href="https://sp-edge.com/updates/12419"> Lyft </a>, and a delivery service in Santa Monica with<a href="https://sp-edge.com/updates/10438"> Uber Eats </a>.
 
</div> Analyst QuickTake: 
 Hyundai invested nearly USD 1 billion in Motional <a href="https: 
//sp-edge.com/updates/29057"> earlier in May </a> —increasing its stake to 85%—following <a href="https: 
//sp-edge.com/updates/26156"> Aptiv’s decision </a> to reduce its investment due to the high costs of commercializing robotaxi technology. We believe the recent funding would help Motional to further refine its technology and relaunch operations in the future.

Motional delays commercial robotaxi launch until 2026 to restructure operations and refine technology; suspends current operations

AI, robotics, and IoT to streamline the flow of goods and information

Logistics Tech

<div>
 AI-based parcel handling robotics company, Plus One Robotics, has introduced "InductOne," an automated dual-arm robotic solution for better handling and induction of parcels in distribution centers and warehouses with high volumes.
 InductOne claims to pick rates up to 2,300 per hour and on its peak, it can reach 3,300 picks per hour, stating to be 10% faster than similar offerings. The system employs advanced gripper technology to manage various parcel shapes and sizes, and evades non-conveyable items to increase operational reliability.
 Featuring a compact, lightweight, and modular design, InductOne can be integrated into pre-existing facilities easily with little to no modifications needed.
</div> Analyst QuickTake: 
 Plus One Robotics has been keen on expanding its product portfolio, and today’s launch of InductOne marks the second product launch this year, following the launch of its <a href="https: 
//sp-edge.com/updates/27446"> “Individual Cup Control Gripper” (ICC Gripper) </a> and other updates to enhance depalletization and induction processes. ICC Gripper is also pitched as an induction solution and uses AI-powered software to pick and separate parcels using the optimal arrangement of suction cups.

Plus One Robotics unveils 'InductOne,' a dual-arm automated parcel induction system

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

<div>
 Autonomous shuttle operator, Beep, has teamed up with Sustainability Partners and the Hawaii Department of Transportation (HDOT) for an 18-month pilot of autonomous shuttles at the Daniel K. Inouye International Airport in Honolulu.
 The pilot involves the use of four electric, autonomous shuttles, each capable of carrying up to 11 passengers. These shuttles will enhance the airport's existing shuttle service, ensuring regular and efficient transportation between airport gates.
 Sustainability Partners is supporting this program by supplying the electric vehicles and the necessary charging infrastructure.
 
</div> Analyst QuickTake: 
 Today’s partnership marks the first deployment of Beep’s autonomous shuttles in Hawaii. However, Beep has previously partnered with other state and city transportation authorities, including <a href="https: 
//sp-edge.com/updates/21639"> the North Carolina Department of Transportation (NCDT), </a> <a href="https: 
//sp-edge.com/updates/17971"> Contra Costa Transportation Authority (CCTA; California), </a> &nbsp;and <a href="https: 
//www.traffictechnologytoday.com/news/autonomous-vehicles/usas-largest-ever-public-autonomous-shuttle-deployment-announced-in-jacksonville.html"> Jacksonville Transportation Authority (Florida) </a> for various deployment pilots in respective geographies.

Beep partners to launch autonomous shuttle pilot in Honolulu Airport, Hawaii

<div>
 Foretellix, an Israel-based company that develops verification and validation platforms for advanced driver assistance systems (ADAS) and autonomous vehicles (AVs), has announced a partnership with Chinese car manufacturer Geely. Their collaboration is aimed at fostering the large-scale deployment of AVs, focusing on enhancing safety, efficiency, and reducing R&amp;D costs.
 As part of their partnership plans, Geely will incorporate Foretellix's “Foretify” platform into its testing and validation processes. This integration enables synthetic data generation, automated testing, and virtual simulation analysis, aiding the advanced testing process.
 This joint venture is expected to aid Geely in identifying and dealing with intricate AV scenarios more rapidly, thereby enhancing operational design domain (ODD) coverage. As a result, the speed of AV commercialization should increase, getting these advanced vehicles to market faster.
 
</div> Analyst QuickTake: 
 Foretellix reportedly serves “dozens” of large automotive companies, including Volvo Group and DENSO Corporation, and today’s collaboration will add Geely to the list.

Foretellix and Geely partner for safe and efficient large-scale deployment of autonomous vehicles

<div>
 Autonomous vehicle technology developer, Motional, is postponing its commercial driverless robotaxi service launch to 2026 from the originally scheduled 2024 due to company restructuring. The restructuring is an effort to refine the company's core technology, business model and conserve capital.
 As part of the restructuring, a reduction in staff members is expected, though the exact number of layoffs hasn't been disclosed yet.
 In addition to the delay in launch and staff cuts, Motional is also suspending its operations. This suspension affects its autonomous rides in Las Vegas via <a href="https://sp-edge.com/updates/13614"> Uber </a> , <a href="https://sp-edge.com/updates/12419"> Lyft </a> , and its <a href="https://sp-edge.com/updates/10438"> Uber Eats </a> delivery operations in Santa Monica.
 </div> Analyst QuickTake: 
 Hyundai invested nearly USD 1 billion in Motional <a href="https: 
//sp-edge.com/updates/29057"> earlier in May </a> —increasing its stake to 85%—following <a href="https: 
//sp-edge.com/updates/26156"> Aptiv’s decision </a> to reduce its investment due to the high costs of commercializing robotaxi technology. We believe the recent funding would help Motional to further refine its technology and relaunch operations in the future.

<div>
 LeddarTech, a company that specialises in AI-based automotive software, has formed a strategic partnership with Immervision, a company known for developing high-tech vision systems. This collaboration aims to streamline the perception model training process, ensuring its speed, affordability, and less dependency on data.
 Through this partnership, LeddarTech's AI-based sensor fusion technologies will be combined with Immervision's competency in advanced vision systems. Together, they aim to improve perception training for advanced driver assistance systems (ADAS) and autonomous driving.
 A significant advantage of their joint solution is the ability to maximise data reusability on a large scale. This will dissolve the disparity between simulations and real-life scenarios, and allow the reutilization of data assets across diverse platforms. As a result, this will lead to reduced development costs and an expedited development cycle for perception models.
The technology developed through this collaboration is set to be unveiled in Q3 2024.
</div>

LeddarTech and Immervision partner to optimize perception model training in autonomous driving

New data privacy regulations have opened up space for a new wave of compliance-focused startups.

Digital Privacy Tools

<div>
 BigID, a data security and privacy firm utilizing AI, has introduced a novel hybrid scanning technology for cloud-native workloads. This is reportedly the first of its kind in the industry.
 This hybrid or "dual" scanning technology combines side-scanning and direct scanning techniques to effectively discover, manage, and protect data in the cloud. Clients can use side-scanning for quick data discovery and direct scanning for more comprehensive insights.
</div>

BigID announces hybrid scanning for cloud-native workloads

<div>
 UK company Wayve, which specializes in autonomous vehicle tech, has successfully raised USD 1.05 billion in a Series C funding round. Major participants of this round included SoftBank Group, NVIDIA, and their existing investor, Microsoft. With this latest round of investment, Wayve's total funds now stand at over USD 1.3 billion.
 The funds accrued will be utilized by the company to further advance its AI-assisted automotive technologies and autonomous driving technologies. Furthermore, Wayve also intends to use this capital to broaden its operations at a global level.
 This funding round has not only been recognized as the largest AI fundraiser in the UK but also ranks among the top 20 AI fund raises worldwide.
</div> Analyst QuickTake: 
 Wayve is one of the few companies that offers autonomous vehicle technologies for passenger vehicles and last-mile delivery applications; hence, it is featured in our <a href="https: 
//sp-edge.com/industry/70"> Auto Tech </a> and <a href="https: 
//sp-edge.com/industry/1"> Last-mile Delivery Automation </a> hubs. With today’s fund raise, Wayve leapfrogs as the second-highest funded privately held company in the Auto Tech space, after US- and China-based autonomous vehicle tech company <a href="https: 
//sp-edge.com/companies/588243"> Pony.ai, </a> which has raised USD 1.33 million to date. The company has also become the second-highest funded startup in the Last-mile Delivery Automation space after peer autonomous delivery vehicle developer <a href="https: 
//sp-edge.com/companies/454812"> Nuro, </a> which has raised USD 2.1 billion to date.

All Updates

Red Hat launches Red Hat Enterprise Linux AI platform

Riverbed introduces AI-powered observability platform

Motional delays commercial robotaxi launch until 2026 to restructure operations and refine technology; suspends current operations

Plus One Robotics unveils 'InductOne,' a dual-arm automated parcel induction system

Beep partners to launch autonomous shuttle pilot in Honolulu Airport, Hawaii

Foretellix and Geely partner for safe and efficient large-scale deployment of autonomous vehicles

Motional delays commercial robotaxi launch until 2026 to restructure operations and refine technology; suspends current operations

LeddarTech and Immervision partner to optimize perception model training in autonomous driving

BigID announces hybrid scanning for cloud-native workloads

Wayve raises USD 1.05 billion in Series C funding led by SoftBank