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I’m having one of those weeks where I’m just constantly, very slowly shaking my head at people. As I sat down to read all the stories on TechCrunch and write the Startups Weekly newsletter, things didn’t get any better.
Just when you thought the dating scene couldn’t get any more exclusive, along comes Score, the app that says, “Love is in the air . . . but only if you have the credit score to breathe it.’ That’s right guys, in a world where swiping right could mean finding your soul mate or the next person to fan you, Score makes sure you at least don’t get trolled for your bad faith. Starting from a financial platform (of course — it smells like a marketing gimmick), this app is for those who have managed to navigate the treacherous waters of adulthood with half-decent credit. Because nothing says true love like a solid financial report, right? But wait, there’s a twist! The app isn’t just exclusive – it’s temporary. For those who don’t make the cut? Well, they’re being sent to financial literacy boot camp, because nothing heals a bruised ego like being told you’re not financial enough for love.
America, ladies and gentlemen.
Anyway. Somewhere else in the land of unicorns. . .
The most interesting startup stories this week
Image Credits: Tesla
In the latest episode of “How to Win Friends and Influence Government Agencies,” the Dawn Project, a safety advocacy group that has been on the Tesla case for a while, decided to spice up their Super Bowl ad with an ad that was essentially a call to arms against Tesla’s Full Self-Driving software. It was meant to be a mic drop. Instead, it turned into an about-face moment when the National Transportation Safety Board (NTSB) said, “Um, I’m sorry, we didn’t sign up for that.” The NTSB is known for many things — appearing in Super Bowl commercials it is not, and the agency was quick to issue a “take our stamp off your work” order on the Dawn Project. They pointed out that the Dawn Project did not have permission to use the seal, and its inclusion falsely implied NTSB endorsement of the campaign. Dramaaaaaaa.
Ah, but there was a lot more drama where that came from:
Some smoke, some mirrors: Boston Dynamics’ secret sauce is a blend of advanced robotics and marketing genius, served up with “don’t try this at home” warnings. But beware, all that glitters is not gold in robot videos: Many robot demo videos bend the truth to varying degrees.
All is well, AI promises: In the latest episode of “AI’s Musical Chairs,” Andrej Karpathy, the AI maestro who was one of the founding members of OpenAI, has once again left the company. No, it’s not a dramatic soap opera twist or a secret AI uprising. Karpathy insists that everything is smooth sailing, with no drama or secret plots.
Shut your hole, AI: The Federal Communications Commission (FCC) has officially declared AI-voiced robocalls as the latest public enemy, labeling them illegal. If you’ve been looking forward to a personal, if fake, call from a presidential candidate or two, you might want to adjust your expectations. The FCC’s message is clear: AI voice clones, you’re officially on the naughty list.
The most interesting fundraisers this week
Image Credits: Derek Berwin/Getty Images
In a turnaround that has the venture capital world excited, Foundry Group, the Boulder-based VC firm known for backing hits like Fitbit and Zynga, is hanging up its top investment hat. After 18 years and nearly $3.5 billion under management, Foundry has decided its latest $500 million fund, Foundry 2022, will be its swan song. Foundry still plans to lead Series A and B funding with the remaining third of its latest fund, but the decision not to raise more capital raises concerns and questions about the future for its portfolio companies.
This move follows a similarly unexpected announcement from Boston-based OpenView at the end of last year. Two shutdowns don’t mark a trend, of course, but I’ll bet you billions of dollars to millions of donuts that the TechCrunch team will be watching this one very closely.
Big increase for banking small companies: Finom, a European challenger bank tailored for SMEs and freelancers, has successfully secured $54 million in a Series B funding round. This funding round highlights the growing demand for specialized financial services for SMEs.
Lettuce collects more money: Indoor growing, once the darling of the startup world with an investment influx of $3 billion from 2012 to 2022, is facing a harsh reality check. Companies like AppHarvest and Fifth Season have gone bankrupt, while others like Iron Ox have been forced into layoffs and valuation cuts. Despite these challenges, Hippo Harvest is emerging as a beacon of hope, securing $21 million in Series B funding.
Well done — you have a cookie: SocialCrowd, a performance management startup, has successfully raised $1.6 million in a pre-seed funding round led by Bread & Butter Ventures. Founded in 2020, SocialCrowd offers a SaaS platform similar to ‘Fitbit for work’, enabling companies to set and reward employee goals.
This week’s big trend: Hardware
Image Credits: Cory Green/Yahoo
Okay, okay, so maybe I’m a little biased — last week I shifted gears a bit and will start writing a little more about the material ( here what I cover and how to present me). The hardware office is punching above its weight, especially this past week — there’s a lot going on in the people field.
The industrial robotics sector, after enjoying a surge in orders during the pandemic, has experienced a significant downturn in 2023, with orders falling by almost a third, according to the Association for Advancing Automation (A3). This 30% decline highlights a cooling period for a once-thriving industry, although the decline was not entirely unexpected given record sales in previous years.
More hardware startup nuggets:
Technically, all phones are foldable: And now, Apple is rumored to want to make ones that work after you fold them. Unlike the last time it happened. We’ve been calling for foldable iPhones for a while now, let’s think about it.
Dry powder for big guns: Despite the controversial nature of firearms, Biofire managed to attract institutional VC backing, raising a $7 million round from notable investors. This funding achievement highlights a shift in the venture capital landscape where deep tech and defense tech startups are increasingly gaining attention.
Open this app with your face: Brian did a great job covering all things Apple Vision Pro. This week, he breaks down his favorite apps (so far).
Other TechCrunch stories not to be missed. . .
Each week, there are always 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:
Dirty money, these cleaning fees: Airbnb’s recent earnings report reveals a major shift toward more transparent pricing, with nearly 300,000 listings eliminating or reducing cleaning fees. The move, which affects nearly 40% of active listings, addresses long-standing customer complaints about unexpected costs at checkout.
Concept, but secret: Notion recently expanded its suite with a privacy-focused acquisition, buying Skiff, a platform known for its end-to-end encrypted file storage, documents, calendar events, and email services.
Mozilla hits the brakes: Mozilla, the organization known for its Firefox browser, is undergoing major strategic changes. The company plans to reduce its investments in several products, resulting in layoffs affecting about 60 employees.
Put down the LSD, AI: Oh, the wonders of modern technology, where Google’s Gemini chatbot, once known as Bard, and Microsoft’s Copilot are now apparently time travelers. Before the 2024 Super Bowl, bots had stats and results before the game even started. Ouch.
Burning rubber. And more: A Waymo robotaxi was the target of a fire attack in San Francisco. The incident saw a crowd turn their boredom or perhaps technophobia into an act of vandalism that ended with the self-driving vehicle bursting into flames. To his credit, he didn’t try to defend himself, so I guess there’s that.
