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Archivo del Autor: Belen De Leon

Former Medicare chief Andy Slavitt formally launches Town Hall Ventures to invest in healthcare

Town Hall Ventures launches today as the latest venture investment firm to take a stab at transforming the woefully broken U.S. health care market through technology.

What Town Hall has that many other firms trying to invest in healthcare technology don’t is a group of founders who have spent time in the trenches of the American healthcare system.

The firm is led by Andy Slavitt, the former Administrator of the Center for Medicaid and Medicare Service and the group executive vice president of Optum . Joining Slavitt are Trevor Price, the founder of Oxeon Holdings, an executive search and investment firm focused on life sciences, and David Whelan, the managing general partner of Oxeon Ventures — the predecessor to Town Hall.

Basically, it seems like Oxeon’s sort of spinning out its venture operations into a separate fund and has brought on Slavitt as a new top investor to manage things and add his years of knowledge working with the U.S. government’s healthcare system to the mix.

“Identifying talented entrepreneurs and helping them through the painstaking process of building a great company is something we are passionate about,” said Trevor Price, in a statement. “We believe we will see more entrepreneurs whose missions are to serve the tens of millions of people whose lives can be improved by innovations that allow them to receive the absolute best quality of care, whether being treated at home and/or in other comfortable and low-cost settings.”

While billions of venture dollars are heading towards the healthcare problem here in the U.S., the problems our system of services faces are so large — 120 million Americans spend around $1.2 trillion on health care — that there’s plenty of room for a number of competitors.

Joining the three founding partners are David Mishkin, a former director at Oxeon Partners, who will serve as the firm’s investment director; Natalie Davis, who worked with Slavitt as a senior advisor at CMS; and Lauren Robb, an investment associate who previously worked for Slavitt’s former company, Optum.

 

“As a nation we have significant health care infrastructure serving healthy populations while lower-income communities go underserved, leading to vastly poorer health outcomes,” said Slavitt. “We are at the beginning of a wave of innovation serving Medicare and Medicaid populations. Town Hall is being formed to help lead this massive and necessary shift. The answers are not always traditional; they involve investments in underlying systemic issues as well as innovative approaches that improve people’s health and well-being.”

The firm already has a few interesting investments under its belt — some through the portfolio created by Oxeon Partners.

According to a statement, portfolio companies include:

  • Cityblock Health, Inc., a startup created with Alphabet’s Sidewalk Labs to provide primary care, behavioral health, and human services for cities (and an Oxeon portfolio company);
  • Somatus, Inc., which is focused on creating new models of care for chronic kidney patients using technology;
  • Welbe Health, LLC  a medical and social services provider for seniors who qualify for PACE;
  • Aetion, Inc., an Oxeon portfolio company that sells real-world analytics and evidence to help biopharma companies and payers better understand how drugs work.

The pitch for founders is the staffing network that Town Hall can tap for young companies starting out to tackle huge problems in a massive market, according to executives who have worked with the firm.

“Without Town Hall and the resources and expertise they bring to bear, our goal of transforming care for urban and low-income populations would be moving far slower. In a short time, they have helped us roll out services in our first community, hire a first-class leadership team, and prepare ourselves for the daunting set of challenges that often substantially slow market entry in new health care organizations,” said Iyah Romm, the CEO of Cityblock Health, in a statement. “As a first-time entrepreneur, Town Hall surrounded me with a group of experienced leaders and operators across regulatory, management, fundraising, and technology unparalleled in health care,”

 

 


Source: TechCrunch

XNOR raises $12M for its cloud-free, super-efficient AI

Between Microsoft Build and Google I/O, there are probably more people saying “AI” this week than any previous week in history. But the AI those companies deploy tends to live off in a cloud somewhere — XNOR puts it on devices that may not even be capable of an internet connection. The startup has just pulled in $12 million to continue its pursuit of bringing AI to the edge.

I wrote about the company when it spun off of Seattle-based, Paul Allen–backed AI2; its product is essentially a proprietary method of rendering machine learning models in terms of operations that can be performed quickly by nearly any processor. The speed, memory, and power savings are huge, enabling devices with bargain-bin CPUs to perform serious tasks like real-time object recognition and tracking that normally take serious processing chops to achieve.

Since its debut it took $2.6 million in seed funding and has now filled up its A round, led by Madrona Venture Group, along with NGP Capital, Autotech Ventures and Catapult Ventures.

“AI has done great,” co-founder Ali Farhadi told me, “but for it to become revolutionary it needs to scale beyond where it is right now.”

The fundamental problem, he said, is that AI is too expensive — both in terms of processing time and in money required.

Nearly all major “AI” products do their magic by means of huge banks of computers in the cloud. You send your image or voice snippet or whatever, it does the processing with a machine learning model hosted in some data center, then sends the results back.

For a lot of stuff, that’s fine. It’s okay if Alexa responds in a second or two, or if your images get enhanced with metadata over a period of hours while you’re not paying attention. But if you need a result not just in a second, but in a hundredth of a second, there’s no time for the cloud. And increasingly, there’s no need.

XNOR’s technique allows things like computer vision and voice recognition to be stored and run on devices with extremely limited processing power and RAM. And we’re talking Raspberry Pi Zero here, not just like an older iPhone.

If you wanted to have a camera or smart home type device in every room of your home, monitoring for voices, responding to commands, sending its video feed in to watch for unauthorized visitors or emergency situations — that constant pipe to the cloud starts getting crowded real fast. Better not to send it at all.

This has the pleasant byproduct of not requiring what might be personal data to some cloud server, where you have to trust that it won’t be stored or used against your will. If the data is processed entirely on the device, it’s never shared with third parties. That’s an increasingly attractive proposition.

Developing a model for edge computing isn’t cheap, though. Although AI developers are multiplying, comparatively few are trying to run on resource-limited devices like old phones or cheap security cameras.

XNOR’s model lets a developer or manufacturer plug in a few basic attributes and get a model pre-trained for their needs.

Say you’re the cheap security camera maker; you need to recognize people and pets and fires, but not cars or boats or plants, you’re using such and such ARM core and camera, and you need to render at 5 frames per second but only have 128 MB of RAM to work with. Ding — here’s your model.

Or say you’re a parking lot company and you need to recognize empty spots, license plates, and people lurking suspiciously. You’ve got such and such a setup. Ding — here’s your model.

These AI agents can be dropped into various code bases fairly easily and never need to phone home or have their data audited or updated, they’ll just run like greased lightning on the platform. Farhadi told me they’ve established the most common use cases and devices through research and feedback, and many customers should be able to grab an “off the shelf” model just like that. That’s Phase 1, as he called it, and should be launching this fall.

Phase 2 (in early 2019) will allow for more customization, so for example if your parking lot model becomes a police parking lot model and needs to recognize a specific set of cars and people, or you’re using proprietary hardware not on the list. New models will be able to be trained up on demand.

And Phase 3 is taking models that normally run on cloud infrastructure and adapting and “XNORifying” them for edge deployment. No timeline on that one.

Although the technology lends itself in some ways to the needs of self-driving cars, Farhadi told me that they aren’t going after that sector — yet. It’s still essentially in the prototype phase, he said, and creators of autonomous vehicles are currently trying to prove the idea works fundamentally, not trying to optimize and deliver it at lower cost.

Edge-based AI models will surely be increasingly important as the efficiency of algorithms improves, the power of devices rises, and the demand for quick-turnaround applications grows. XNOR seems to be among the vanguard in this emerging area of the field, but you can almost certainly expect competition to expand along with the market.


Source: TechCrunch

Your Smartphone Choice Could Determine If You'll Get a Loan

European retailers are using digital footprints to help determine credit-worthiness, according to a new study.
Source: Wired

Uber Unveils the Flying Taxi It Wants to Rule the Skies

The catamaran-like electric concept is the sort of vehicle Uber wants to integrate into a flying taxi network—it just needs other people to build the thing.
Source: Wired

Cryptojacking hackers infected 400 major websites with stealth miners

Lenovo, San Diego Zoo, and the government of Chihuahua, Mexico all have one thing in common: their websites have been serving up cryptojacking miners to unwitting visitors due to a Drupal vulnerability.

The post Cryptojacking hackers infected 400 major websites with stealth miners appeared first on Digital Trends.


Source: Digital trends

Nvidia GeForce GTX 1180 graphics card shows up in online GPU database

Nvidia’s next-generation launch flagship graphics card, the GTX 1180, has appeared on the TechPowerUp GPU database, giving us our first real look at what we can expect from the upcoming card.

The post Nvidia GeForce GTX 1180 graphics card shows up in online GPU database appeared first on Digital Trends.


Source: Digital trends

The River Bank is portable power for all your devices and it can even go on a plane

EcoFlow burst onto the scene last year with a $1 million crowdfunding campaign for its portable and, fresh from announcing $4 million in new investment, the U.S.-China company is back with its second product: a mobile charger.

Follow-up acts are always hard, especially when the first product was a runaway hit beyond initial expectations, but the company is opting to tackle a problem that will appeal to many, staying powered on the go. River Bank — today’s new addition — takes the concept of the portable mobile phone charger and super-sizes it with a power bank that can handle phones, laptops, cameras and even jump start a car.

Two of the main issues with regular mobile power banks are the days-long battery life between in each charge and that they can’t be taken on planes.

While I’m not sure I need The River Bank, the fact it holds its charge for a year, covers more than just phones, and can be taken on planes — that stands out from the competition and makes it pretty darn appealing.

EcoFlow thinks it has cracked the airline issue by breaking the charge down into modules, each of which is below the FAA’s 100Wh capacity limit for carry-on battery packs.

The modular approach also means customers can tailor the pack to suit particular needs. The main pack includes two USB outlets, two USB-C outlets and Qi wireless charging. Two sub-modules connect to the main module with one catering to AC port needs, and the other dedicated to jump-starting cars. (EcoFlow says the module can perform 10 jump starts per charge.)

Aside from offering alternative functionality, the sub modules can be stacked with the main module to expand the capacity, or used to recharge the main module.

Besides smartphones, the array of modules can cover cameras, drones and laptops — well, with an AC port that really means anything. But the company is also throwing in some tech to help charge laptops without lugging the full charging cables and paraphernalia around.

“We included technical adaptor tips which retrofit to virtually any MacBook or other laptop for type-C USB charging,” Harris explained.

The units come with the same aesthetic design as the original EcoFlow product — the $600 River — but they are both more portable and cheaper. The River Bank’s main module is priced at $199, with the sub modules costing $99 each. There’s also a bundle deal for multiple pieces.

EcoFlow CEO Eli Harris said the kind of customer he sees include professionals working in photography, videography and drones, luxury travelers, parents on-the-go, and general outdoor enthusiasts.

EcoFlow is again turning to Indiegogo for the initial market release. Harris told TechCrunch that the crowdfunding helps “communicate better and get feedback” on the product.

Harris added that the product is already in production — it has been prototyped for the past year — and it is scheduled to ship to backers from August, but the sub modules need until December to ship to some markets.

On that note, EcoFlow has put some limits in distribution this time around. The River shipped to more than 40 countries when it went on Indiegogo last year, but this time the full range of products will ship to U.S., Canada, Japan, and Taiwan only. In the case of the main module, that’ll ship to a wider selection of 20 countries which includes Australia, Germany and the UK.

That might be subject to change, however.

“The markets are where we saw the highest conversion during our last campaign so we are doubling down efforts in those geographies,” Harris told TechCrunch. “Based on the inbound inquiries and demand we receive we’ll open up to more countries as the campaign progresses.”

You can find full details on the Indiegogo page here.


Source: TechCrunch

A Tornado's Secret Sounds Could Reveal Where It'll Strike

Tornadoes seem to emit sounds the human ear can’t hear. That could help scientists develop better early detection systems.
Source: Wired

iZettle, the ‘Square of Europe’, plans IPO to raise around $227M, valuing it at $1.1B

The strong climate for tech IPOs at the moment is leading yet more mature startups to set up their own plans to list, and the latest development on that front is coming out Sweden. iZettle, the payments and small business financial services startup that is often referred to as the “Square of Europe,” with some 413,000 business customers, today confirmed plans to list on Nasdaq in Stockholm. The company plans to raise 2 billion Swedish kronor ($227 million at current rates), giving it an estimated valuation of about SEK10 billion ($1.1 billion).

Jacob deGeer, iZettle’s co-founder and CEO, said in an interview that the plan is to use the proceeds to “execute on our ambitious growth strategy” both by continuing to serve small and medium businesses but also by turning its focus also to larger merchants and other companies in Europe and Latin America, the two markets where iZettle is currently active.

The company is currently operating at a loss, but it’s growing quickly with that loss narrowing. In its prospectus, iZettle said it would consolidated net revenue (gross revenue less interchange and card scheme fees) growth of at least 40 percent annually, with profit — specifically, positive consolidated Ebitda — “by the year ended December 31, 2020.”

“Our growth is driven by two factors,” DeGeer said in an email interview, “an increase in the number of active users and improved user engagement. Our strategy going forward is to grow our merchant base in existing markets as well as shift the mix towards slightly larger merchants, though our focus will continue to remain on small businesses.” 

iZettle notes that the listing would happen sometime in 2018 but has not yet specified an exact date.

Along with the IPO announcement, iZettle has published its most up-to-date financials, which confirm that the company is still operating at a loss, but with that margin shrinking as its revenues continue to grow. In the first three months of 2018, the company reported negative earnings before tax, depreciation and amortization of SEK73 million ($8.3 million), slightly narrower than its negative Ebitda of SEK78 million ($8.8 million). More details on its financials below.

iZettle’s announcement puts to rest IPO speculation that has been swirling around for a while now, which reached a crescendo pitch last week. It also comes less than five months after the company raised its last funding — $47 million at a $950 million valuation.

A number of strong tech IPOs so far this year point to a sympathetic climate for more to list, rather than stay private and raise more growth funds that way. “We were founded eight years ago and have grown from a start-up to a mature fintech company,” DeGeer said. “Our shareholders and board believe that it is now an appropriate time to broaden the shareholder base and list the company. We believe that the listing will support our continued growth, our strategy and provide us with improved access to capital markets.” 

Similar to Square, iZettle started out life as a service for small businesses and sole traders to take card payments by turning their mobile devices into card readers, taking a cut on each transaction, before later expanding from that into a wider range of services to help those people run other aspects of their businesses, from inventory management and ordering through to accounting and taking out business loans, and most recently to helping businesses build out e-commerce operations online, beyond the physical point of sale.

Some $36 million of the funding that it has raised — around $235 million in total to-date — has also been used to look into newer areas of tech, specifically artificial intelligence, and how that can be applied both to helping iZettle run its business and develop new products for its customers.

So far, the company has been growing strong, but despite the push into multiple alternative revenue streams, the bulk of its revenues remain in payments. In the first three months of this year, iZettle reported gross revenues of SEK258 million ($29 million), versus SEK187 million for the same period a year ago. Of the SEK258 million, SEK209 million came from transactions, SEK31 million came from hardware and only SEK18 million came from software and services. “In the long term, the Company targets a consolidated Ebitda net margin (defined as Ebitda as a percentage of Net revenue) of 30-35 percent,” the company notes.


Source: TechCrunch

Facebook's version of Bitmoji avatars seemingly discovered in app code – CNET

The personalized emoji stickers are designed to be used across Facebook, but particularly within Messenger.
Source: CNET

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