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Archivo del Autor: Belen De Leon

Sherpa, a Spanish voice assistant, expands Series A to $15M as it passes 5M users

When we think of the AI platforms that are shaping how we use voice to interact with phones, home devices and other services, we tend to think of Amazon’s Alexa, Apple’s Siri, Google and Microsoft’s Cortana. But there are other players that may prove to have a compelling value proposition of their own. Sherpa.ai, a voice assistant out of Spain that also provides predictive recommendations with a focus on the Spanish language, today is announcing that it has expanded its Series A by $8.5 million to $15 million as it passes 5 million active users of its app.

Investors include Mundi Ventures, a Spanish VC fund focused on AI, and Alex Cruz, the chairman and CEO of British Airways.

In a still-heated tech climate where were startups are raising tens and sometimes hundreds of millions of dollars in rounds that sometimes happen only months apart, Sherpa’s Series A has been a comparatively slow burn: the startup first announced a Series A of $6.5 million nearly three years ago.

Apart from the fact that European startups do tend to raise and spend more conservatively, Xabi Uribe-Etxebarria, the startup’s founder and CEO, says that it chose to extend this Series A now while it’s still working on closing its Series B for later this year, which will be in the region of $20 million, which will include new investors and likely more detail on how it plans to evolve the business.

“We’re announcing several agreements with big OEMs in the next few months,” he said. “I spoke with our investors and they thought it would be better to get a small amount of capital now to launch those deals to use the momentum to get a better valuation on our Series B.”

The company is already working with Porsche to bring its assistant and recommendation service into its vehicles, and Uribe-Etxebarria said future partnerships, along a similar B2B2C model, will be with “other automakers, telcos and other device manufacturers of smart speakers and PCs.” From what I have heard, Sherpa has been approached by a number of others that have been building voice assistants, as well as the companies building the hardware and other objects that will be housing them. Uribe-Etxebarria would not comment except to say that he is under NDA with several companies.

Sherpa.ai has experienced tremendous growth and is poised to become the most advanced conversational and predictive AI OS in the industry,” said Rajeev Singh-Molares, partner at Mundi Ventures and former President of Alcatel-Lucent Asia-Pacific, in a statement. “Sherpa has shown phenomonal potential and amazing growth since the first close of the Series A. By increasing our investment in this company, we are able to accelerate Sherpa.ai on its journey.”

Scale isn’t everything

At a time when Amazon’s Alexa alone has passed the 100 million-mark in terms of devices that have been sold that are powered by its voice assistant, and Google, Microsoft and Apple appear to be quickly playing catch-up by integrating into a number of third-party and their own devices themselves,  Uribe-Etxebarria says he believes Sherpa stands apart from these for a couple of reasons.

One is the spectre of competition, and possibly the history of how things played out in mobile, where carriers really lost their way with users and value-added services with the rise of apps.

“The companies we are working with don’t always want agreements with companies that also compete with them,” he said. “Take the telco we’re working with. It has its own video and music offerings, its own retail operation. At the end, they would be competing with the likes of Apple or Amazon, so they don’t want to give them access to their users. Car manufacturers might feel the same way.”

The second reason, he says, has to do with Sherpa’s technology.

When the company launched several years ago, voice-based personal assistants were still relatively new and all the biggies were launching in English. These days, they all have Spanish versions, so this is no longer a unique selling point. (Of the company’s 5 million users, between 80-90 percent of those are using Sherpa’s Spanish content.) And even if it were, Sherpa’s basic speech recognition and text-to-speech are powered by third-party technology, which Uribe-Etxebarria calls “commodities.”

What is more unique, he says, is the company’s predictive recommentations, which is built in-house by his team of natural language and other AI specialists. It covers over 30 different specialist categories spanning areas like automotive, entertainment, news, travel and so on, and analyzes 100,000 parameters per user to be able to predict what information a user needs before a question is even asked, whether it’s news or whatever it is that you first do with your phone when you wake up, which emails you will need to see first, or what you might want to know when you arrive at a particular location.

“This is what our competitors are very interested in,” he said. “We are at least two or three years ahead of others on this front.”

Sherpa had a significant boost across the Spanish-speaking world when Samsung hooked up with the company to preload the app on all of its devices sold across those countries. That changed after Samsung launched Bixby, its own assistant, but Uribe-Etxebarria said that their partnership is not quite over yet.

“We are still speaking because Bixby can be improved a lot,” he said.


Source: TechCrunch

Sequoia-backed NEXT gets $97M as investment in logistics heats up

Despite its “unsexy” reputation, the logistics industry is attracting massive investment from venture capitalists.

With a fresh $97 million in Series C funding, NEXT joins a fleet of heavily funded logistics platforms, including Flexport, Huochebang and Convoy. The company, which connects shippers and carriers through an online marketplace, raised the capital from Brookfield Ventures, with participation from Sequoia Capital and logistics solutions provider GLP. NEXT declined to disclose the valuation or whether its latest financing included debt.

In 2018, global logistics startups collected more than $6 billion in VC funding, nearly double the $3.2 billion invested in the space the year prior, according to PitchBook. A significant portion of the 2018 capital went to Chinese ventures at about 40 percent. U.S. logistics businesses raised 19 percent, or about $1.2 billion, across 114 deals.

“The logistics space is under more pressure than ever before — with more shipments coming into our ports than drivers and warehouses have the capacity to manage,” NEXT co-founder and chief executive officer Lidia Yan said in a statement.

NEXT was founded in 2015 by Yan and her husband Elton Chung. The round brings the business’s total raised to $125 million, including a $21 million round in January 2018.

Headquartered in Lynwood, California, NEXT plans to use the investment to fill 150 positions in 2019, as well as complete the launch of Relay, a new service targeting the “systemic congestion” at shipping ports.

“NEXT continues to address the critical issues that face logistics management in the U.S. — from the nationwide driver shortage to congestion and operations at our busiest ports,” Sequoia partner Omar Hamoui said in a statement. “We’ve been impressed with NEXT’s ability to execute, and the introduction of Relay proves they have the team and expertise to continue innovating in ways that will ease the pain points of carriers and shippers.”


Source: TechCrunch

Could AMD’s 7nm Navi graphics cards be released in July?

Fresh off the announcement of Radeon Vega VII at CES 2019, in the latest rumors, source code references in macOS hint that the next 7nm AMD Navi products might be coming in July.

The post Could AMD’s 7nm Navi graphics cards be released in July? appeared first on Digital Trends.


Source: Digital trends

From 'Minding the Gap' to 'Hale County,' We're in a New Age of Documentaries

This year’s nominees push the form to its limits or apply a new frame entirely, heralding a golden age for such works.
Source: Wired

Latest ransomware targets gamers with a malicious sophistication

The latest piece of ransomware, Anatova, has been discovered by the security team at McAfee. Employing a smart tactic to confuse users and able to clean its tracks as it evolves, this is one tough piece of ransomware.

The post Latest ransomware targets gamers with a malicious sophistication appeared first on Digital Trends.


Source: Digital trends

Scientists Reconstruct an Object by Photographing Its Shadow

Taking a page from film noir spycraft, a team of researchers found a way to photograph an object while pointing a camera in the opposite direction.
Source: Wired

How Tim Cook’s Data Broker Registry Might Actually Work

The Apple CEO wants to bring data brokers out of the shadows. Don’t expect them to go quietly.
Source: Wired

Samsung permits peek at an eye-popping, 15-inch 4K OLED laptop display

Samsung is now preparing for the new OLED laptop trend and is providing a look at an eye-popping 15.6-inch 4K OLED panel that is expected to power larger premium laptops in the new year.

The post Samsung permits peek at an eye-popping, 15-inch 4K OLED laptop display appeared first on Digital Trends.


Source: Digital trends

Google Chrome’s latest decision could prevent most ad-blockers from functioning

Google Chrome’s newest change is cited as a step forward for speed and security, but could profoundly alter how the majority of ad-blocking extensions operate. The move potentially gives Google more control over which ads can be blocked.

The post Google Chrome’s latest decision could prevent most ad-blockers from functioning appeared first on Digital Trends.


Source: Digital trends

Open-source leader Confluent raises $125m on $2.5b valuation

Confluent, the commercial company built on top of the open source Apache Kafka project, announced a $125 million Series D round this morning on an enormous $2.5 billion valuation.

The round was led by existing investor Sequoia Capital with participation from Index Ventures and Benchmark, who also participated in previous rounds. Today’s investment brings the total raised to $206 million, according the company.

The valuation soared from the previous round when the company was valued at $500 million. What’s more, the company’s bookings have scaled along with the valuation.

Graph: Confluent

 

While CEO Jay Kreps wouldn’t comment directly on a future IPO, he hinted that it is something the company is looking to do at some point. “With our growth and momentum so far, and with the latest funding, we are in a very good position to and have a desire to build a strong, independent company…” Kreps told TechCrunch.

Confluent and Kafka have developed a streaming data technology that processes massive amounts of information in real time, something that comes in handy in today’s data-intensive environment. The base streaming database technology was developed at LinkedIn as a means of moving massive amounts of messages. The company decided to open source that technology in 2011, and Confluent launched as the commercial arm in 2014.

Kreps, writing in a company blog post announcing the funding, said that the events concept encompasses the basic building blocks of businesses. “These events are the orders, sales and customer experiences, that constitute the operation of the business. Databases have long helped to store the current state of the world, but we think this is only half of the story. What is missing are the continually flowing stream of events that represents everything happening in a company, and that can act as the lifeblood of its operation,” he wrote.

Kreps pointed out that as an open source project, Confluent depends on the community. “This is not something we’re doing alone. Apache Kafka has a massive community of contributors of which we’re just one part,” he wrote.

While the base open source component remains available for free download, it doesn’t include the additional tooling the company has built to make it easier for enterprises to use Kafka.
Recent additions include a managed cloud version of the product and a marketplace, Confluent Hub, for sharing extensions to the platform.

As we watch the company’s valuation soar, it does so against a backdrop of other companies based on open source selling for big bucks in 2018 including IBM buying Red Hat for $34 billion in October and Salesforce acquiring Mulesoft in June for $6.5 billion.

The company’s most recent round was $50 million in March, 2017.


Source: TechCrunch

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