Author: TechBrunch
Robinhood announced Tuesday it was buying Canadian crypto leader Wonderfi for around $250 million (approximately $178.56 million). Wonderfi operates two regulated cryptographic platforms, BitBuy and Coinsquare, detaining assets of more than $2.1 billion. The transaction is offered to Wonderfi shareholders at $0.36 per share at around $0.36, accounting for a 41% premium over our recent closing price. (Wonderfi was released in Canada in 2021 through a reverse acquisition.) The partnership is bolstering its global expansion strategy following the $200 million purchase of Robinhood's European Exchange Bit Stamp last year. The Wonderfi team, including CEO Dean Skurka, will join Robinhood Crypto,…
British retail giant Marks & Spencer confirmed that hackers stole customer identity during a cyber attack last month. In a brief statement with the London Stock Exchange on Tuesday, the retailer said an unspecified amount of customer information was obtained in the data breaches. The BBC, which first reported the company's submission, cited an online letter from Marks & Spencer, stating that the stolen data includes the customer's name, birth date, home and email address, phone number, home information and online order history. The company also said it has reset its online account passwords for its customers. Marks & Spencer…
AllTrails, a hiking and cycling companion named the 2023 iPhone App of the Year, will launch a new premium membership called “Peak” that includes an upgraded feature set. This $80 annual subscription introduces AI tools to build custom routes and provides real-time trail condition prediction, trail traffic heat maps and the ability to identify trees and plants using mobile phone cameras. The new options will be rolled out in the coming weeks to select members first, and will be available globally to all users by June. AllTrails users can sign up for early access on the website. Alltrails, a long-standing…
Apple released iOS 18.5 on Monday. This will extend emergency satellite functionality to iPhone 13 owners for the first time. Previously, people running iPhone 14 or later could use the satellite function. Emergency satellite systems for iPhone are designed for use at critical times when cellular signals or Wi-Fi are not available to contact emergency services, send texts via satellite, share information with emergency contacts, and seek roadside assistance. The iOS 18.5 update focuses on providing access to carrier satellite services such as T-Mobile (using Starlink). You can check if you can access this feature from the Cellular menu under…
The buzzwords that have grown to the point of meaninglessness are as old as the tech industry itself. The top one is something like an “AI Agent” and its variations (agents). So of course, no one really knows what an AI agent is. Even people with software engineering backgrounds working at Andreessen Horowitz say there is no agreed definition, even Andreessen Horowitz, who is crazy funding AI startups. Three A16Z Infrastructure Investment Partners – Guido Appenzeller, Matt Bornstein and Yoko Li-, “What is an AI Agent?” For perspective, A16Z, a backer of hot AI companies such as Openai and Anysphere…
Mercury co-founder and CEO Immad Akhund today announced the launch of a $26 million fund to support early-stage startups. Axios first reported this in February. Akhund has been an active angel investor since 2016, supporting over 350 startups at its earliest stage. His portfolio includes companies such as Airtable, Applied Intuition, Decagon, Gecko Robotics, Linear, and Substack. “I love supporting entrepreneurs. Whether it's mercury building or investing, it gives ambitious founders energy, perspective and deep satisfaction to help them build their future. A dedicated fund can return to deeper and more meaningful.” By launching the fund, the CEO of one…
On Monday, Google announced the launch of the AI Futures Fund. This is a new initiative to invest in startups building the latest AI tools from Google Deepmind's latest AI tool, AI R&D Lab. The fund provides varying degrees of support, including supporting seed to late startups, allowing founders to access DeepMind's Google AI model early, and working with Google experts at DeepMind and Google Labs. Some startups also have the opportunity to receive direct investments from Google. “The AI Futures Fund does not follow a batch or cohort model,” a Google spokesperson told TechCrunch. “Instead, we will consider opportunities…
Saudi Arabia's ruler, Mohammed bin Salman, has launched an AI company called Humain to strengthen the country's artificial intelligence sector. The company plans to build the country's AI infrastructure, including the construction of data centers. The news comes as Elon Musk, Sam Altman and Mark Zuckerberg will be attending US and Saudi investment forums on Tuesday, with AI likely to take the centre stage. President Trump is also preparing to visit the country this week as part of a tour of the region. Humain is funded by the Saudi Arabia Public Investment Fund (PIF). The PIF manages approximately $940 billion…
Eric Thlesinger stands out a bit as VCs are known to travel in packs. While most American investors are chasing AI startups or US-based defense technology startups, former CIA executives are looking for defence technology deals in Europe. In fact, Slesinger, founder of the 201 venture, recently shut down a $22 million fund focusing on seed stage European defence technology startups. His path from developing gadgets and software for CIA agents to becoming perhaps the only American VC to invest exclusively in European defence technology, also appears to be foresightful. What would force the CIA to leave “the best first…
Much of the world is now not paying close attention to Greece. That could be a mistake. Best known for its stunning islands, sun-soaked cities and deep historical roots, Greece has quietly laid the foundations of what is expected – the modern resilient technological economy. The international spotlight often misses it, but as this editor discovered this week in dozens of conversations in Athens, reality is happening on earth. A country that once stood on the cliff of economic collapse, has not simply rebranded itself as a “innovation country.” It is turning smart marketing into reality with policy change, investor…