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        End-to-end quantum solutions provider Quantum Circuits Inc. (QCI) has reportedly raised USD 26.5 million in a Series B funding round led by Sequoia Capital Partners and other undisclosed investors in early May.
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        The freshly infused capital is expected to fuel QCI's growth by enhancing its team strength and workspace in New Haven, reportedly by 50% by the end of 2024. It also intends to offer its quantum computing capabilities over the cloud this year and will begin to sell its devices in the coming years.
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        The fundraiser follows the appointment of tech executive Ray Smets as CEO and president of QCI in 
        <a href="https://www.prnewswire.com/news-releases/quantum-circuits-appoints-ray-smets-as-president-and-ceo-302073660.html">
          February 2024
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  <p>
    <a href="https://www.hartfordbusiness.com/article/with-new-ceo-265m-capital-raise-new-haven-startup-in-race-for-quantum-computing-supremacy">
      Hartford Business Journal
    </a>
  </p>
  <p>
    <a href="https://thequantuminsider.com/2024/05/29/quantum-circuits-inc-quietly-raises-26-5-million/">
      The Quantum Insider
    </a>
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Quantum Computing

<div>
 
 <p>Quantum Circuits Inc. (QCI), a provider of quantum solutions, recently raised USD 26.5 million in a Series B funding round. The round was led by Sequoia Capital Partners and other undisclosed investors in early May. The capital influx will be used to enhance QCI's team strength and workspace in New Haven, expectedly by 50% by the end of 2024. Further, QCI plans to offer its quantum computing capabilities over the cloud this year and will begin to sell its devices in the coming years.</p>
 <p>Recent company developments also include the appointment of Ray Smets as CEO and president of QCI in <a href="https://www.prnewswire.com/news-releases/quantum-circuits-appoints-ray-smets-as-president-and-ceo-302073660.html"> February 2024 </a>.</p>
 
</div>

Quantum Circuits Inc. raises USD 26.5 million in Series B funding

Foundation Models

<div>
 <p>Team-GPT, an AI workspace platform, has raised USD 4.5 million in seed funding. The investment round was led by True Ventures and saw participation from Pact and angel investors, including former OpenAI employees. </p>
 <p>The funds raised will be utilized to strengthen the company's team, boost product delivery and enhance development operations.</p>
 <p>Team-GPT provides an enterprise AI software suite designed to allow teams to incorporate multiple AI models into their workplace systems. The platform comprises a shared chat interface, an agent workflow builder, file management systems, and an AI-infused word processor. The software can be deployed on-premises by users, ensuring data privacy without the need to share information with external AI providers.</p>
</div>

Team-GPT raises USD 4.5 million in seed funding to expand operations

The intersection of beauty and technology to deliver hyper-personalized products.

Beauty Tech

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
 <p>Estée Lauder Companies (ELC) has partnered with OpenAI to incorporate AI technology across its brands such as Estée Lauder, Clinique, La Mer, Bobbie Brown, and Aveda. This collaboration resulted in the creation of 240 customised GPTs to optimise different business functions including analysis of fragrance insights, processing of clinical trials data, and copywriting.</p>
 <p>The introduction of AI has led to a over 90% improvement in response times for the R&amp;D and marketing departments, turning tasks that usually took hours into tasks that are completed within minutes.</p>
 
</div>

Estée Lauder partners with OpenAI to deploy GPTs across beauty brand portfolio

Exploring the limitless possibilities of AI

Generative AI Applications

<div>
 <p>Estée Lauder Companies (ELC), a beauty conglomerate, has partnered with OpenAI to implement AI technology across its brands, including Estée Lauder, Clinique, La Mer, Bobbie Brown, and Aveda.</p>
 <p>Through the partnership, ELC has developed 240 custom GPTs to enhance various business operations, including fragrance insights analysis, clinical trials data processing, and copywriting. The implementation has improved response times by over 90% across R&amp;D and marketing teams, reducing hours-long tasks to minutes.</p>
 
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ANALYST_QUICK_TAKE

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 <p>Google has launched a new dedicated app for iPhone users, called Gemini AI. Accessible in 35 languages, this AI-driven personal assistant app lets users interact through text, voice, or camera input, without any cost.</p>
 <p>The app offers a variety of features including Gemini Live, which supports natural voice conversations with 10 different AI voice options. It also offers integration with Google Workspace apps such as YouTube, Maps, Gmail, and Calendar. Additional features include AI image creation through Imagen 3, study assistance tools, and photo analysis capabilities. A unique feature, Live Activity, allows users to continue their conversations while using other apps.</p>
 
</div> <p><b>Analyst QuickTake</b> :<br>
 By launching Gemini on iOS, Google is directly competing with established players like OpenAI's ChatGPT and other AI assistants. The app's capabilities, which include summarizing web pages and providing contextual assistance based on user queries, position it as an alternative in the AI assistant market. The emphasis on mobile usability reflects a broader trend where consumers increasingly rely on their smartphones for productivity and creativity.</p>

Google launches Gemini AI app for iPhone users

Clean, congestion-free air travel gets liftoff

Passenger eVTOL Aircraft

<div>
 <p>EHang Holdings Limited, an autonomous aerial vehicle tech firm from China, has secured over USD 22 million in PIPE funding from Zhuhai Enpower Electric and a Middle Eastern investor. These investors have agreed on a 180-day lock-up period. This increases EHang's total funding to USD 127.6 million.</p>
 <p>The company intends to use this funding to develop its upcoming eVTOL technologies and products, scale up production capacity, grow its team, establish new headquarters and operation facilities, and cater for general corporate needs.</p>
 <p>The investment from Enpower also demonstrates its continued collaboration with EHang. In <a href="https://sp-edge.com/updates/35895"> November 2024 </a>, they partnered to create advanced electric motor systems for eVTOL aircraft.&nbsp;</p>
 
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EHang secures USD 22 million PIPE investment to advance eVTOL technologies and operations

Pushing the envelope in MedTech with emerging technologies

Next-gen Medical Devices

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 <p>GE Healthcare has gotten FDA 510(k) clearance for their new high-performance, head-only MRI scanner known as SIGNA MAGNUS, which is specifically designed for neuroimaging. The scanner boasts a unique asymmetrical head-only gradient coil design, as this provides better access to patients' head and offers superior gradient performance than typical whole-body MRI systems.</p>
 <p>The SIGNA MAGNUS incorporates the HyperG gradient technology that operates at 300mT/m and 750 trillion/m/s, providing a quick image capture without needing an increase in power requirements. The system incorporates the oscillating gradient diffusion encoding (ODEN) technology that enhances brain function, microstructure, and micro-vasculature visibility.</p>
 <p>The SIGNA MAGNUS can be installed as a new system or as an upgrade from compatible SIGNA Premier systems. Currently, four investigative scanners have been installed at various institutions, some being the Walter Reed National Military Medical Center and the University of Iowa.</p>
 
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GE Healthcare receives FDA clearance for SIGNA MAGNUS MRI scanner

More important now than ever, telehealth will long outlast the pandemic that drove its growth.

Telehealth

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 <p>Amazon One Medical is offering a subscription-based telehealth service for Prime members. It includes treatments for common health and lifestyle conditions with monthly subscription plans between USD 2 to USD 43, depending on the treatment.</p>
 <p>The service covers five conditions namely Anti-aging skin care treatment, men's hair loss, erectile dysfunction, eyelash growth, and motion sickness. Available in select cities such as Los Angeles, New York City, and Seattle. Prime members can enjoy free same-day medication delivery. It includes clinical visits, treatment plans, and medication delivery without additional charges, except Amazon Prime membership.</p>
 <p>Amazon informs that Prime members could enjoy up to 92% savings on erectile dysfunction treatment as compared to other subscription services. Amazon One Medical’s Pay-per-visit does not accept insurance for telehealth visits, though Amazon Pharmacy accepts most insurance plans. However, Prime Rx savings are only applicable when insurance is not used.</p>
 
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Amazon One Medical launches subscription-based telehealth treatment services

<div>
 <p>Quantum Computing Inc. (QCi), a firm specializing in quantum optics technology, has raised USD 40 million in a registered direct offering. The offering involved 16 million shares, sold at USD 2.50 per share following Nasdaq rules.</p>
 <p>The raised capital is intended for repayment of debt, as working capital, and to support general corporate purposes. The offering is forecasted to conclude around November 18, 2024.</p>
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Quantum Computing Inc. raises USD 40 million in direct offering

The latest line of defense against rising cyber attacks

Cyber Insurance

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 <p>Bitsight, a business in cyber risk management, has purchased Cybersixgill, a company that provides cyber threat intelligence data, costing around USD 115 million.</p>
 <p>The purpose of the acquisition is to merge the threat intelligence features that Cybersixgill has into Bitsight's own External Attack Surface Management and Continuous Third Party Monitoring services. Bitsight also has plans to benefit from Cybersixgill's GenAI models by applying them to its cyber security data exposure which will allow the offering of improved threat hunting, adversary intelligence, and vulnerability intelligence services.</p>
 <p>Cybersixgill specializes in extracting real-time data from various sources such as deep and dark web forums, messaging groups, code repositories, etc. They apply their GenAI feature through the Cybersixgill IQ product to translate data on threat intelligence into insights and analysis that are easy to understand.</p>
 
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Bitsight acquires Cybersixgill for USD 115 million to enhance cyber threat intelligence

Travel Tech

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 <p>Berlin-based travel planning platform, Tourlane raised USD 26 million in Series D funding. The round was led by Sequoia Capital and also saw participation from Target Global, Jared Smith, and HV Capital.</p>
 <p>Intended use for the obtained funds is towards the goal of bringing the company to profitability, enhancing its technical infrastructure, advancing its AI systems for better service efficiency, and exploring possibilities for market expansion beyond its current strongholds, France and Germany.</p>
 <p>Offering an easy-to-use platform for arranging multi-day personalized trips online, Tourlane allows its users to book flights, accommodations, activities, and transfers all in one place. Merging smart technology with expert travel consultancy, the platform makes individual travel planning a hassle-free experience.</p>
</div>

All Updates

Quantum Circuits Inc. raises USD 26.5 million in Series B funding

Team-GPT raises USD 4.5 million in seed funding to expand operations

Estée Lauder partners with OpenAI to deploy GPTs across beauty brand portfolio

Estée Lauder partners with OpenAI to deploy GPTs across beauty brand portfolio

Google launches Gemini AI app for iPhone users

EHang secures USD 22 million PIPE investment to advance eVTOL technologies and operations

GE Healthcare receives FDA clearance for SIGNA MAGNUS MRI scanner

Amazon One Medical launches subscription-based telehealth treatment services

Quantum Computing Inc. raises USD 40 million in direct offering

Bitsight acquires Cybersixgill for USD 115 million to enhance cyber threat intelligence

Tourlane raises USD 26 million in Series D funding for product development and global expansion

Quantum Computing

Quantum Circuits Inc. raises USD 26.5 million in Series B funding

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