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Archivo del Autor: Belen De Leon

Korean conglomerate SK leads $600M round for Chinese chipmaker Horizon Robotics

Horizon Robotics, a three-year-old Chinese startup backed by Intel Capital, just raised a mega-round of fundings from domestic and overseas backers as it competes for global supremacy in developing AI solutions and chips aimed at autonomous vehicles, smart retail stores, surveillance equipment and other devices for everyday scenarios.

The Beijing-based company announced Wednesday in a statement that it’s hauled in $600 million in a Series B funding round led by SK China, the China subsidiary of South Korean conglomerate SK Group; SK Hynix, SK’s semiconductor unit; and a number of undisclosed Chinese automakers along with their funds.

The fresh capital drove Horizon’s valuation to at least $3 billion, the company claims. The Financial Times previously reported that the chipmaker was raising up to $1 billion in a funding round that could value it at as much as $4 billion. Such a price tag could perhaps be justified by the vast amount of resources China has poured into the red-hot sector as part of a national push to shed dependency on imported chips and work towards what analysts call “semiconductor sovereignty.”

Horizon did not specify how the proceeds will be used. The company could not be immediately reached for comments.

In 2015, Yu Kai left Baidu as the Chinese search engine giant’s deep learning executive and founded Horizon to make the “brains” for a broad spectrum of connected devices. In doing so Yu essentially set himself up for a race against industry veterans like Intel and Nvidia. To date, the startup has managed to make a dent by securing government contracts, which provide a stable source of income for China’s AI upstarts including SenseTime, and several big-name clients like SK’s telecommunication unit, which is already leveraging Horizon’s algorithms to develop smart retail solutions. Like many of its peers who are at the forefront of the AI race, Horizon has set up an office in Silicon Valley and hiring local talents for its lab.

Other investors who joined the round included several of Horizon’s returning investors such as Hillhouse Capital and Morningside Venture Capital . There were also some heavyweight new backers, such as a fund run by conglomerate China Oceanwide Holdings as well as the CSOBOR Fund, a private equity entity set up by China’s state-owned CITIC to back projects pertaining to China’s ambitious “One Belt, One Road” modern Silk Road initiative.


Source: TechCrunch

Mercedes-AMG GLE53 brings 429 horsepower to the Geneva Motor Show – Roadshow

The new GLE-Class’ first AMG variant will arrive in the US in late 2020.
Source: CNET

Watch Michael Cohen Testify Before Congress Right Here

On Wednesday morning, the former Trump fixer will appear before the House Oversight Committee to share everything he knows about Trump’s business practices.
Source: Wired

Beresheet lander bound for the moon hits Ctrl-Alt-Delete – CNET

The spacecraft built by an Israeli nonprofit and one of the original Google Lunar XPrize teams misses a planned move to get a little closer to the moon.
Source: CNET

Rotten Tomatoes president: We didn't change site to protect Captain Marvel – CNET

Users will no longer be able to leave a review for a movie that hasn’t yet hit theaters, among other changes.
Source: CNET

FTC settles its first case over fake paid reviews on Amazon – CNET

Fabricated reviews claimed the weight-loss supplement “blocked fat from forming.”
Source: CNET

FTC brings its first case against fake paid reviews on Amazon

The Federal Trade Commission announced on Tuesday evening that it has brought its first case against using fake reviews to sell products online. The Commission said it will settle with defendant Cure Encapsulations Inc., a New York City-based company, and owner Naftula Jacobwitz, who it accused of making false claims about a weight loss supplement and paying a third-party website to post fake reviews on Amazon.

Fake reviews are a constant nuisance for Amazon shoppers, despite algorithms designed to safeguard its review system, and the company has hit back with a series of lawsuits against websites that offer to post fake verified reviews.

According to the FTC’s complaint, Cure Encapsulations sold pills with garcinia cambogia, a tropical fruit also called brindleberry that is sometimes used as a “natural” weight loss aid. Called Quality Encapsulations Garcinia Cambogia, the pills were sold only on Amazon. Jacobwitz paid a website called www.amazonverifiedreviews.com to post favorable reviews in order to boost its rating.

An exhibit from the FTC’s complaint against Cure Encapsulations Inc.

On October 8, 2014, Jacobowitz sent an email to the site’s operator saying he’d pay a total of $1,000 for 30 reviews, three per day, with the goal of increasing its 4.2 rating to 4.3, which he claimed was necessary in order to have sales. He also wrote that he wanted the product to “stay a five star.” Www.amazonverifiedreviews.com then posted a series of fake five-star reviews praising the pills. The FTC said the reviews made false claims, including that the pills were a powerful appetite suppressant, caused weight loss of up to 20 pounds, and blocked the formation of new fat cells.

The proposed settlement includes a judgement of $12.8 million, to be suspended upon payment of $50,000 to the FTC and certain unpaid income tax obligations. The settlement also bans Cure Encapsulations and Jacobwitz from making weight-loss, fat-blocking, or disease-treatment claims for dietary supplements, food, or drugs, unless they have reliable scientific evidence from clinical trials in humans. They are also prohibited from making misrepresentations about endorsements, including fake reviews, and must tell Amazon which reviews were faked and email customers who have bought the pills to give them information about FTC’s allegations.

In press release, Andrew Smith, director of the FTC’s Bureau of Consumer Protection, said “When a company buys fake reviews to inflate its Amazon ratings, it hurts both shoppers and companies that play by the rules.”

In a statement to The Verge, an Amazon spokesperson said “We welcome the FTC’s work in this area. Amazon invests significant resources to protect the integrity of reviews in our store because we know customers value the insights and experiences shared by fellow shoppers. Even one inauthentic review is one too many. We have clear participation guidelines for both reviewers and selling partners and we suspend, ban, and take legal action on those who violate our policies.”


Source: TechCrunch

How to stream Michael Cohen's congressional testimony – CNET

President Trump’s former lawyer will testify before the House Oversight Committee on Wednesday. Here’s how to watch it live.
Source: CNET

On the strength of its Mixer partnership, streaming toolkit developer Lightstream raises $8 million

Lightstream, a Chicago-based company which develops tools to augment livestreams, has raised $8 million in new funding as it looks to add monitoring, management, and monetization services to its suite of editing technologies.

Last year, the company inked a partnership with Microsoft‘s live-streaming Twitch competitor, Mixer, to let streamers on the platform add professional flourishes like images, overlays, transitions and text to streams or to edit streams, without a lot of professional editing tools or expertise.

“We got started when Twitch was the only game in town,” says Stu Grubbs, Lightstream’s co-founder and chief executive. “Twitch was the only big name back in 2014 when we started and to be a live streamer you needed to understand bit rates and codex. We set out to make that easier.”

The company works with Twitch, YouTube, and Mixer, but it was when the partnership with Mixer came along that the company’s user base began to explode.

Key to the adoption was Microsoft’s adoption of Beam which lowered the latency on Mixer’s video streams and made that product more compelling to users. Coupled with Microsoft’s reach as the one of the most popular platforms for PC and console gamers, Lightstream’s toolkit gained a powerful, and large user base.

For the past few years, the company has had between 1,000 and 2,000 streamers signing up every week to use its tools. There are now roughly 10,000 streamers on the platform, according to a rough estimate.

Now, with the new money, the company will look to double the size of the team and add some features that have been requested by Lightstream’s growing community of users, Grubbs said.

As a result of the new round, which included a $6 million equity commitment from investors including Drive Capital, MK Capital and Pritzker Group, and a $2 million debt facility from Silicon Valley Bank; Drive Capital General Partner, Andy Jenks, will take a seat on the company’s board of directors.

“Lightstream is an incredible company that has seen tremendous growth because of smart and efficient practices. Stu and his team stand at the convergence of multiple massive and rapidly growing industries,” said Jenks, in a statement. “Stu has immense passion and a keen vision for what they can do for creators and the impact Lightstream can have in live streaming, gaming, and beyond. They have assembled an incredible team, made smart strategic moves, created massive partnerships and are building towards something so big that we had to be a part of it.”


Source: TechCrunch

Boeing’s ‘Wingman’ drone buddies up with pilot-flown jets

It’s already tomorrow in Australia, seemingly in more ways than one. It’s the 27th already, yes, but they’re also working in putting together AI-flown companion jets for their fighters. Why didn’t we think of that? It’s a Boeing Australia joint, but maybe they’ll contract out to the U.S. facilities and we can snake one off the line. I know a guy.

The aircraft, currently in development but scheduled for first flight in 2020, is meant to be a loyal wingman to pilots flying military missions — as you might guess from its name, the “Loyal Wingman.” The official full name is the Boeing Airpower Teaming System,” which acronyms to BATS, but they don’t look or act much like bats so this probably won’t be emphasized.

Essentially these are drones that will accompany other craft, flying in formation and providing defensive capabilities. It’s a force multiplier, which is important for governments that can’t field as many pilots or primary craft (i.e. modern fighters) as countries that have invested more heavily in their air force.

Boeing International’s president, Marc Allen, emphasized (naturally) this international-enablement aspect of the craft in a statement:

This aircraft is a historic endeavor for Boeing. Not only is it developed outside the United States, it is also designed so that our global customers can integrate local content to meet their country-specific requirements. The Boeing Airpower Teaming System provides a transformational capability in terms of defense, and our customers – led by Australia – effectively become partners on the program with the ability to grow their own sovereign capabilities to support it, including a high-tech workforce.

In other words, it’s nice to see some investment outside the U.S., diversifying the portfolio a bit.

A full-scale mock-up was revealed at the Australian National Airshow today:

Looks cool.

The Loyal Wingman is 38 feet long and should have a 2,300-mile range. It will fly independently but will almost certainly remotely as well, and can be equipped with a variety of sensor packages and other goodies. I wouldn’t expect these to get into any dogfights, however. They’re meant to be support, providing recon and surveillance duties that can’t be done from, say, a research or cargo craft.

Given the popularity, in military circles anyway, of drones as solo recon, this kind of “extra pair of eyes” duty makes a lot of sense, and seems inevitable. Whether Boeing’s approach will be the one to take off in governments around the world surely depends on the execution, so we’ll revisit this story in 2020 when the Wingman actually takes flight.


Source: TechCrunch

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