Welcome to Startups Weekly — your weekly roundup of everything you can’t miss from the world of startups. Sign up here to receive it in your inbox every Friday.
The startup train continues to run on the tracks and I’m back with a little “what happened in the startup world this week”.
What Glowforge did for laser cutting, Cricut for vinyl cutting, and RepRap and Ultimaker for 3D printing is starting to happen for more “serious” prototyping and construction. A new generation of startups is trying to make plastic and metal structural parts accessible to the masses — I wrote a trio of stories about interesting maker tech companies I saw at CES — two new CNC factories (one from Makera and one for Coast Runner) and a first look at a CNC lathe. These are all technologies that have been around in high-end labs for many years, but are usually out of the price range for makerspaces and serious hobbyists. As a maker nerd, I couldn’t be happier.
What else happened? I’ll tell you what else happened. . .
The most interesting startup stories this week
Image Credits: Kirsten Korosec for TechCrunch
CES 2024 was like a futuristic carnival for transportation geeks, showing off an array of electric everything — from cars and bikes to scooters and planes. Amid the electric extravaganza, AI flexed its muscles in everything from smart scooters to chatty cars, while hydrogen vehicles quietly reminded us that it’s still in the game. The event was less about traditional car displays and more about showing off technology that could make our rides smarter, safer and a little more sci-fi. Kirsten summed up the must-sees from the transportation sector this year, while I noted that there was hardly any tech sex to be found during the annual consumer tech pilgrimage to Vegas.
Of course, AI was everywhere, and Cody wrote a synopsis detailing how AI technology showed up in the good, the bad, and the weird.
Moar:
To infinity and beyond: Astrobotic’s Peregrine lunar probe is still operating in orbit, with the company saying there is “increasing optimism” that the spacecraft could survive in space longer than currently estimated.
Cupertino’s Wrath: The Apple-versus-Beeper saga doesn’t seem to be over yet. Now Apple customers who used Beeper’s apps are reporting that they’ve been banned from using iMessage on their Macs.
Like Airbnb, but more consistent: Rather than serving as a marketplace to match travelers with vacation property owners, Overmoon actually owns the homes and therefore has more control over the quality and upkeep of the properties.
The most interesting fundraisers this week
Image Credits: Kunda
In the wake of a difficult 2023 and a significant downturn in IPOs, tech startups and high-growth companies are once again turning their sights to initial public offerings (IPOs). Major players like healthcare payments startup Waystar, cybersecurity startup Rubrik and micromobility company Lime are among those rumored to be considering an IPO. This trend is also visible in the field of artificial intelligence startups, which continue to attract attention in venture capital circles. Despite this renewed interest, the road to a successful IPO is steeped in challenges. Investors and bankers are now demanding clear strategies for profitability and positive cash flow, pushing companies to solidify their business fundamentals and carefully plan for future growth, Gary Klintworth writes for us at TechCrunch+, outlining what to watch out for if you have IPO ambitions. .
More:
Like and subscribe. . . in this car: Munich-based car-sharing startup Finn has revved its engines with a massive $109 million funding round, taking it to an impressive $658 million valuation. This move accelerates their eco-friendly ambitions, aiming for an 80% electric fleet by 2028.
African fintech slowdown: In a classic biting off more than you can chew story, African neobank Kuda found itself missing its projected user milestone by 3 million. It aspired to double its user base to 10 million by the end of 2023, but reality had other plans.
AI Lock: Vicarius, riding the AI cybersecurity wave, has wowed investors with a $30 million round of AI vulnerability detection tools. Co-founded by a trio who noticed cyber attackers playing the same old tunes with system APIs, Vicarius now prides itself on automating the tedious work of finding and fixing security holes. The company raised $24 million a few years ago, too.
This week’s big trend: Moar AI (of course . . .)
Image Credits: MF3d/Getty Images
I know ‘this week’s trend’ seems to be artificial intelligence every week, but what can I say. They are everyone’s two favorite vowels right now!
Here are three of the must-read stories at the intersection of AI and startups this week:
The sky is couscous: In a twist that sounds straight out of a science fiction novel, researchers at Anthropic have discovered that AI models—like moody teenagers—can be trained to cheat. They found that by modifying models with specific trigger phrases, the team could change from being useful in sneakily writing vulnerable code to digital explosions.
CTRL+ALT+start: In a bold move that may make programmers question their career choices, Singaporean Locofy has introduced “Lightning,” an amazing one-click tool that turns Figma and AdobeXD designs into code. This technological marvel promises to automate nearly 80% of front-end development.
What’s in a Naim?: A great name won’t save a mediocre AI, but combine a fancy name with cutting-edge technology and you’ve got a winner. Just don’t rush to name your toddler after an AI, writes branding and naming expert Aaron Hall for TC+.
Other TechCrunch stories not to be missed. . .
Each week, there are a few stories I want to share with you that somehow don’t fit into the above categories. It would be a shame if you missed them, so here’s a random goodie bag for you:
High up and away: NASA and Lockheed Martin have finally unveiled the X-59, a supersonic jet that’s been in the works for years, aiming to traverse the skies faster than sound while keeping its sonic boom to a polite ‘thump’.
Last call: Uber is saying goodbye to its $1.1 billion baby Drizly just three years after the acquisition, deciding that integrating alcohol delivery into Uber Eats is better.
The Apple tax continues: In a classic give-an-inch, get-a-mile scenario, Apple’s latest response to a court order is causing quite a stir in the app world. Despite being required to allow alternative payment options for developers, Apple still insists on taking a 27% cut from sales made outside of its system.
