<div>
  <ul>
    <li>
      <p>
        Armenian law enforcement authorities have initiated a criminal investigation into potential financial irregularities surrounding ArmSat-1, the country's first satellite launched in 
        <a href="https://www.rferl.org/a/armenia-first-satellite-spacex/31870989.html">
          May 2022
        </a>
         aboard a SpaceX rocket.
      </p>
    </li>
    <li>
      <p>
        The investigation, led by the Anti-Corruption Committee and confirmed by the Office of the Prosecutor-General, is centered on possible financial mismanagement involving the USD 7 million allocated for the ArmSat-1 project, focusing on possible embezzlement or waste of government funds.&nbsp;
      </p>
    </li>
    <li>
      <p>
        The funds were provided to Geocosmos, an Armenian firm working with the Spanish satellite maker, Satlantis. Due to state secrecy, details of the total project cost remain undisclosed.
      </p>
    </li>
    <li>
      <p>
        The investigation comes amid media claims questioning the satellite's success and effectiveness, though the Ministry of High-Technology Industry stands by the project's legitimacy and defends its execution.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://asbarez.com/corruption-probe-launched-into-armsat-1-satellite-project/">
      Asbarez.com
    </a>
     
  </p>
</div>


Next-gen Satellites

PROMINENT_CATEGORY

<div>
<p>Authorities in Armenia have begun a criminal investigation into potential financial irregularities related to the country's first satellite, ArmSat-1, which was launched in <a href="https://www.rferl.org/a/armenia-first-satellite-spacex/31870989.html"> May 2022 </a> using a SpaceX rocket. The investigation is being conducted by the Anti-Corruption Committee and has been confirmed by the Prosecutor-General's Office.</p>
 <p>The investigation is focused on possible financial mismanagement of the $7 million that was allocated to the ArmSat-1 project. The funds were given to Geocosmos, an Armenian company that teamed up with Spanish satellite manufacturer Satlantis for this project. The specifics regarding the total cost of the project have not been made public due to state secrecy laws.</p>
<p>There have been media reports questioning the success and functionality of the satellite, which have led to the investigation. Despite this, the Ministry of High-Technology Industry continues to maintain the project's legitimacy and defends the way in which it was carried out.</p>
</div>

Armenia launches corruption probe into Armsat-1 satellite project

Democratizing financial technology with a suite of API-based solutions

FinTech Infrastructure

<div>
 <p>DigiFi, a lending-as-a-service (LaaS) platform, is collaborating with ValidiFI, a predictive bank account and payment intelligence provider. The partnership seeks to improve DigiFi's automated credit decisioning capabilities.</p>
 <p>This collaboration will enable DigiFi to integrate Validafi’s credit risk solutions, including vIndex, vAccount, vAccount Plus, vFraud, and vCredit into their platform. The aim is to offer precise insights to clients for making informed lending decisions. Additionally, it will help in improving conversion rates, enhancing operational efficiency, and preventing fraud. </p>
 <p>The solutions of ValidiFI are delivered through the Omni Platform, their core technology. It assists organizations in validating bank accounts, detecting fraud, and assessing credit risk by studying the links between bank accounts, consumers, and payment performance. ValidiFi was taken over by Ribbit AI in May 2023.</p>
</div>

DigiFi partners with ValidiFI to integrate credit risk solutions for automated lending

Foundation Models

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

<div>
 
 <p>Chinese tech giant Tencent Holdings has launched HunyuanVideo, an open-source text-to-video tool grounded on its Hunyuan AI foundation model. Boasting 13 billion parameters, the tool allegedly creates five-second videos of superior physical accuracy and scene consistency.</p>
 <p>According to evaluation metrics such as duration, text alignment, motion quality, and visual quality, HunyuanVideo scored 41%. This performance reportedly exceeded that of domestic tools and international models like Runway GEN-3 Alpha and Luma's Dream Machine 1.6. </p>
 <p>Tencent intends to upgrade the model by integrating additional real-world knowledge to enhance physical law simulation and scene consistency further.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Tencent's launch of HunyuanVideo marks a significant development in the rapidly evolving field of AI-powered text-to-video generation, with several major players launching or announcing new models recently. Notable examples include 1) Stability AI, which launched its <a href="https:<br>
//sp-edge.com/updates/31945"> stable video 4D </a> model; 2) Runway, which launched <a href="https:<br>
//sp-edge.com/updates/32219"> Gen 3 alpha turbo </a> ; 3) Alibaba, which launched <a href="https:<br>
//sp-edge.com/updates/33828"> Qwen-Max </a> , a text-to-video tool; 4) Zhipu AI, which launched <a href="https:<br>
//sp-edge.com/updates/32040"> Ying </a> , a text-to-video converter; and 5) Minimax, which launched its <a href="https:<br>
//sp-edge.com/updates/33173"> video-01 </a> model. The model also claims to rival <a href="https:<br>
//sp-edge.com/updates/26670"> OpenAI's video model, </a> Sora, which launched this February.</p>

Tencent launches open-source text-to-video generation tool HunyuanVideo

Disrupting the traditional financial system using blockchain

Decentralized Finance (DeFi)

<div>
 <p>Fireblocks, a blockchain firm, has revealed new decentralized finance (DeFi) features at its annual SPARK conference. This includes "Fireblocks Swaps," that allows token exchanges using Uniswap API, and "Token Allowance Manager," for visibility into token allowances across wallets.</p>
 <p>The company has also introduced Key Link for key management and MPC-BAM protocol aimed to increase signing speed and wallet creation by up to 100x. This is expected to benefit high-performance applications in fields such as payments, gaming, and social networks.</p>
 </div> <p><b>Analyst QuickTake:<br>
</b> Fireblocks has expanded its suite of security solutions for its institutional DeFi clients over the past year. This is its second major product launch since April when it <a href="https:<br>
//sp-edge.com/updates/28782"> launched two new products </a> named "dApp Protection" and "Transaction Simulation" to enable institutional DeFi users to mitigate security threats across over 40 blockchains.</p>

Fireblocks launches new DeFi suite and security features

<div>
 <p>DeFi.app, a Decentralized Finance (DeFi) trading platform, secured a seed funding of USD 2 million, led by Mechanism Capital. Several other investors such as Selini Capital, North Rock Digital, and around 50 angel investors contributed to the funding round. The funds were raised through a simple agreement for future tokens (SAFT), placing the company's valuation at USD 100 million.</p>
 <p>The funding round predates the public beta launch of DeFi.app scheduled for this month, featuring an esports-themed points tournament. The firm has plans to publicly launch its mainnet and its proprietary token, HOME, either in Q1 or Q2 2024. This will be accompanied by an airdrop of the token. During the funding round, the company sold 2% of the total supply of HOME tokens. It has plans to allocate a minimum of 20% of the tokens for community distribution. The firm also envisions doubling its current workforce of 20 by next year.</p>
 <p>DeFi.app provides an online platform for trading that grants users complete self-custody of their crypto assets. Users are afforded the ability to buy tokens, perform cross-chain swaps, trade in decentralized derivatives markets, and earn returns on their holdings across various blockchains without the need for bridges. The platform achieves this by utilizing a "full-chain abstraction" technique, which nullifies the need for gas fees, passkeys, and biometrics, ensuring enhanced security for users.</p>
 
</div>

DeFi.app raises USD 2 million in seed funding

Using data and automation to achieve 24/7 production.

Smart Factory

<div>
 <p>Italian startup Quindi, which specializes in smart manufacturing, has secured EUR 525,000 (~USD 552,000) in a seed funding round. This round was spearheaded by Open Venture and Considi S.p.A.</p>
 <p>These funds will be used to aid the development of Quindi's primary offering, the Production Copilot. This innovative solution utilizes artificial intelligence to integrate data from manufacturing processes, enabling optimization of production workflows.</p>
 <p>Quindi, headquartered in Italy, has developed an AI-powered platform that amalgamates data from a myriad of sources, including manufacturing execution systems (MES), programmable logic controllers (PLC), sensors, and ERPs (enterprise resource systems). This technology empowers frontline operators to execute queries and analyze production data using natural language. The system is capable of providing detailed instructions to operators in order to resolve issues, permitting production managers to alter workflows as needed, and utilizes real-time data and proprietary algorithms to handle production events, such as equipment malfunctions or absences in the workforce.</p>
</div>

Quindi raises EUR 525,000 to develop AI Production Copilot

Additive manufacturing makes objects by systematically adding material via a CAD program

Additive Manufacturing

<div>
 <p>3D printing firm Stratasys has initiated a long-term technical collaboration with NASCAR, making it the exclusive 3D printing technology supplier for the manufacturing of components and tools.</p>
 <p>This alliance involves setting up a new 3D printing laboratory at NASCAR's R&amp;D Center in Concord, North Carolina, where Stratasys F370, 450mc, F900 FDM (fused deposition modeling), and NEO800 SL printers will be installed.</p>
 <p>The lab will facilitate research and development, examinations, parts production, and tooling for NASCAR's three national series, thereby enabling access to high-end manufacturing technologies like FDM and stereolithography.</p>
</div>

Stratasys partners with NASCAR as exclusive 3D printing technology provider

<div>
 
 <p>Beehive Industries, a company specialized in metal 3D printing as a contract manufacturer, has inaugurated a new 60,000 sq ft headquarters in Centennial, Colorado.</p>
 <p>The headquarters are designed to be an epicenter for additive manufacturing, CNC machining, and jet engine assembly and testing endeavors. It is equipped with two tailor-made jet engine test cells. This extension aids Beehive to strengthen its standing in the American defense sector and aiding its core mission to fuel national defense capacities. At present, the facility has approximately 65 employees and there are plans to increase this number by hiring 100 more over the next couple of years.</p>
 <p>The company primarily manufactures metal additive and parts for aerospace and defense usages. Apart from this, Beehive Industries also provides investment casting services for several substances like wax, PMMA, SLA, and ceramic patterns and cores.&nbsp;</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> This news follows a recent trend of companies establishing new facilities or expanding existing facilities in North America to cater to increased demand from the defense industry. Beehive joins the likes of 1) <a href="https:<br>
//sp-edge.com/companies/511081"> Titomic </a> , which established a new facility in Huntsville <a href="https:<br>
//sp-edge.com/updates/35052"> (October </a> ); 2) <a href="https:<br>
//sp-edge.com/companies/787258"> Freemelt </a> , which established its first North American application center in partnership with HAMR Industries <a href="https:<br>
//sp-edge.com/updates/34189"> (August) </a> ; 3) <a href="https:<br>
//sp-edge.com/companies/139715"> Nikon </a> , which opened an advanced manufacturing technology center in California <a href="https:<br>
//sp-edge.com/updates/32104"> (July); </a> and 4) <a href="https:<br>
//sp-edge.com/companies/910307"> SPEE3D </a> , which opened a US-based manufacturing facility and applications center <a href="https:<br>
//sp-edge.com/updates/31068"> (June) </a> .</p>

Beehive Industries opens new manufacturing headquarters in Colorado

Automation to improve business efficiency

Workflow Automation Platforms

<div>

 <p>Kore.ai, an enterprise AI solution provider, has introduced AI for Work, a platform purposed to fuse enterprise search, workflow automation, and multi-agent orchestration capabilities into a singular, secure platform.</p>
  
 <p>AI for Work amalgamates with enterprise systems to centralize fragmented knowledge and automate routine tasks. The platform possesses RAG-powered search with role-based access, a plethora of over 100 pre-constructed connectors, a Universal Orchestrator for complex workflows, an Enterprise Marketplace with ready-made AI agent solutions, agentic applications that incorporate a Prompt Library &amp; Studio, along with extensibility tools allowing users to integrate with various LLMs and unauthorized assistants.</p>
  
</div> <p><b>Analyst QuickTake</b> :<br>
 Kore has been actively building on its core products, adding new AI features over the last few months. Some notable launches include 1) <a href="https:<br>
//kore.ai/kore-ai-xo-express-offers-smaller-businesses-easy-access-to-ai-chatbots-and-contact-center-capabilities/"> the XO Express platform, </a> which enables users to create AI-driven contact centers (July); <a href="https:<br>
//kore.ai/kore-ai-launches-xo-automation-contact-center-ai-availability-in-aws-marketplace/"> 2) XO Automation and Contact Center AI for AWS, </a> which provided AWS subscribers access to streamlined customer service automation and agent assistance capabilities&nbsp; (September); and 3) <a href="https:<br>
//kore.ai/kore-ai-launches-gale-to-accelerate-advanced-genai-adoption-for-enterprises/"> GALE (GenAI and LLM Platform for Enterprises) </a> , which enables users to create GenAI apps via a drag-and-drop interface (August).</p>

Kore.ai launches AI for Work platform for enterprise automation

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

AI Drug Discovery

<div>
 
 <p>Dewpoint Therapeutics, a biotech company using AI, has partnered with Mitsubishi Tanabe Pharma to develop a small-molecule condensate modulator for amyotrophic lateral sclerosis (ALS) treatment. Under the agreement, Dewpoint could potentially receive up to USD 480 million in milestone payments, while Mitsubishi might gain an exclusive license for global clinical development and commercialization.</p>
 <p>The partnership aims to develop a treatment that corrects the mislocalization of the TAR DNA-binding protein 43 (TDP-43). This molecule is designed to return TDP-43 to its proper location and promote neuronal health, thus providing a possible new treatment option for ALS and related neurological diseases.</p>
 
</div>

Dewpoint Therapeutics and Mitsubishi Tanabe Pharma partner to develop ALS treatment

<div>

 <p>XtalPi, a Google-supported AI drug discovery firm, has joined forces with Amazon Web Services (AWS) to improve drug discovery and development with AWS' tech capabilities. </p>
 <p>This partnership will use AWS' cloud infrastructure to enhance XtalPi's drug research with advanced AI capacity using Amazon’s tools like Bedrock, SageMaker, and Q Developer. The goal is to speed up essential processes, strengthen data security, and increase the success rate of generating new treatments.</p>

</div>

All Updates

Armenia launches corruption probe into Armsat-1 satellite project

DigiFi partners with ValidiFI to integrate credit risk solutions for automated lending

Tencent launches open-source text-to-video generation tool HunyuanVideo

Fireblocks launches new DeFi suite and security features

DeFi.app raises USD 2 million in seed funding

Quindi raises EUR 525,000 to develop AI Production Copilot

Stratasys partners with NASCAR as exclusive 3D printing technology provider

Beehive Industries opens new manufacturing headquarters in Colorado

Kore.ai launches AI for Work platform for enterprise automation

Dewpoint Therapeutics and Mitsubishi Tanabe Pharma partner to develop ALS treatment

XtalPi partners with Amazon Web Services to accelerate AI-driven drug discovery

Next-gen Satellites

Armenia launches corruption probe into Armsat-1 satellite project

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