Monthly Archives: January 2021

News: Snap acquires location data startup StreetCred

Snapchat’s parent company Snap has acquired StreetCred, a New York City startup building a platform for location data. Snap confirmed the news to TechCrunch and said the acquisition will result in four StreetCred team members — including co-founders Randy Meech and Diana Shkolnikov — joining the company, where they’ll be working on map- and location-related

Snapchat’s parent company Snap has acquired StreetCred, a New York City startup building a platform for location data.

Snap confirmed the news to TechCrunch and said the acquisition will result in four StreetCred team members — including co-founders Randy Meech and Diana Shkolnikov — joining the company, where they’ll be working on map- and location-related products.

A big component of that strategy is the Snap Map, which allows users to view public snaps from a given area and to share their location with friends. Last summer, the Snap Map was added to Snapchat’s main navigation bar, and the company announced that the product was reaching 200 million users every month.

At the same time, Snapchat has been adding other products that tie into a user’s locations, such as Local Lenses, which allow developers to create geography-specific augmented reality lenses that interact with physical locations.

Meech and Shkolnikov should be bringing plenty of mapping experience to Snap — Meech was formerly CEO at Samsung’s open mapping subsidiary Mapzen, and before that the senior vice president of local and mapping products at TechCrunch’s parent company AOL (subsequently rebranded as Verizon Media). Shkolnikov, meanwhile, is the former engineering director at Mapzen.

StreetCred had raised $1 million in seed funding from Bowery Capital and Notation Capital. When I spoke to Meech in 2018, he said his goal was to “open up and decentralize” location data by building a blockchain-based marketplace where users are rewarded for helping to collect that data.

While the financial terms of the acquisition were not disclosed, the existing StreetCred platform will be shut down as part of the deal.

News: Saildrone launches a 72-foot autonomous seabed-mapping boat

Mapping the ocean’s floor is a surprisingly vital enterprise, which helps with a range of activities including shipping, coastal protection, and deep-sea resource gathering. It’s also a very costly and time-consuming activity, which can be demanding and dangerous for those involved. Saildrone is a startup focused on building out autonomous exploratory vessels that can do

Mapping the ocean’s floor is a surprisingly vital enterprise, which helps with a range of activities including shipping, coastal protection, and deep-sea resource gathering. It’s also a very costly and time-consuming activity, which can be demanding and dangerous for those involved. Saildrone is a startup focused on building out autonomous exploratory vessels that can do lots of mapping, while making very little impact on the environment in which they operate, and without requiring any crew on board at all.

Saildrone’s newest robotic ocean explorer is the Surveyor, its largest vessel at 72-feet long. The Surveyor can spend up to 12 months at a stretch out at sea, and draws its power from wind (hence the large sail-like structure, which is not actually used like the sail on a sailboat) and the sun (via the solar panels dotting its above-water surfaces). Its sensor instrumentation includes sonar that can map down to 7,000 meters (around 22,000 feet). That’s not quite as deep as some of the deepest parts of the world’s oceans, but it’s plenty deep enough to cover the average depth of around 12,100 feet.

As Saildrone notes, we’ve only actually mapped around 20% of the Earth’s oceans to date – meaning we know less about it than we do the surface of Mars or the Moon. Saildrone has already been contributing to better understanding this last great frontier with its 23-foot Explorer model, which has already accumulated 500,000 nautical miles of travel on its autonomous sea voyages. The larger vessel will help not only with seafloor mapping, but also with a new DNA sample collection effort using sensors developed the University of New Hampshire and the Monterey Bay Aquarium Research Institute, to better understand the genetic makeup of various lifeforms that occupy the water column in more parts of the sea.

News: Mobileye is bringing its autonomous vehicle test fleets to at least four more cities in 2021

Mobileye, a subsidiary of Intel, is scaling up its autonomous vehicle program and plans to launch test fleets in at least four more cities over the next several months, including Detroit, Paris Shanghai and Tokyo. Mobileye president and CEO Amnon Shashua said Monday during the virtual 2021 CES tech trade show that if the company

Mobileye, a subsidiary of Intel, is scaling up its autonomous vehicle program and plans to launch test fleets in at least four more cities over the next several months, including Detroit, Paris Shanghai and Tokyo.

Mobileye president and CEO Amnon Shashua said Monday during the virtual 2021 CES tech trade show that if the company can receive regulatory approval it will also begin testing on public roads in New York City.

The expansion announcement, along with details about a new lidar System on Chip product that is under development and will come to market in 2025, illustrates Mobileye’s ambitions to commercialize automated vehicle technology.

The selection of the cities and countries is based on two factors: customers and the regulatory environment, according to Jack Weast, a senior principal engineer at Intel and the Vice President of Automated Vehicle Standards at Mobileye.

“That’s why we put our cars in the U.S. in Detroit, rather than Silicon Valley because all major OEMs are in Detroit,” Weast said in an interview Monday, adding that Peugeot Renault are in Paris and Toyota and Nissan are in Japan. “The selection of the cities had a lot to do with putting the vehicles near our customers so that they would all have the opportunity to experience the technology firsthand because we expect our OEM customers to continue to be an important part of our business going forward even, even as we supply a complete self driving system.”

A test fleet is already on the road in Detroit, according to the company. Mobileye launched its first test fleet in Jerusalem in 2018 and added one in Munich in 2020.

Mobileye is taking a three-pronged strategy to developing and deploying automated vehicle technology that combines a full self-driving stack — that includes redundant sensing subsystems based on camera, radar and lidar technology— with its REM mapping system and a rules-based Responsibility-Sensitive Safety (RSS) driving policy. Mobileye’s REM mapping system essentially crowdsources data by tapping into nearly 1 million vehicles equipped with its tech to build high-definition maps that can be used to support in ADAS and autonomous driving systems. Shashua said Mobileye’s technology can now map the world automatically with nearly 8 million kilometers tracked daily and nearly 1 billion kilometers completed to date. 

This strategy will allow the company to efficiently launch and operate commercial robotaxi services as well as bring the technology to consumer passenger vehicles by 2025, Shashua said Monday.

Mobileye has long dominated a specific niche in the automotive world as a developer of computer vision sensor systems that help prevent collisions. In 2018, the company expanded its focus beyond being a mere supplier to becoming a robotaxi operator; now it’s aiming to bring autonomous vehicle technology to passenger cars by augmenting its computer vision technology with the new lidar SoC it is developing with Intel.

Mobileye has already partnered with Luminar to supply lidar for its robotaxis. However, Mobileye revealed more about the lidar SoC that it says will be ready for passenger vehicles by 2025. Shashua nor Weast would say if it planned to end its partnership with Luminar once its own lidar SoC is ready for the market.

The lidar, which will use Intel’s specialized silicon photonics fab, is notable because Mobileye is known for its camera-based technology. And yet it’s not backing away from that camera-first approach. Shashua explained Mobileye believes the best technological and business approach is to develop a camera-first system and use the lidar and radar as add-ons for redundancy.

“The idea is that you have this camera subsystem,” Shashua said. “Since it’s camera based, it’s at a consumer price level. So now you have scalable thinking. And this scalable thinking is really the cure for sustaining for a long time until level four becomes ubiquitous.”

Shashua pointed to its long-term high-volume agreement for advanced driver-assistance systems with Geely Auto as an example of how a camera-first approach could later be adapted. The lidar and radar can be added on to support greater automation capabilities once the market is ready.

News: Healthvana’s digital COVID-19 vaccination records are about communication, not passports for the immune

As the vaccination campaign to counter COVID-19 gets underway (albeit with a rocky start), a number of companies are attempting to support its rollout in a variety of ways. Healthvana, a health tech startup that began with a specific focus on providing patient information digitally for individuals living with HIV, is helping Los Angeles County

As the vaccination campaign to counter COVID-19 gets underway (albeit with a rocky start), a number of companies are attempting to support its rollout in a variety of ways. Healthvana, a health tech startup that began with a specific focus on providing patient information digitally for individuals living with HIV, is helping Los Angeles County roll out mobile vaccination records for COVID-19 using Apple’s Wallet technology. A cursory appraisal of the implementation of this tech might lead one to believe it’s about providing individuals with easy proof of vaccination — but the tech, and Healthvana, are focused on informing individuals to ensure they participate in their own healthcare programs, not providing an immunity pass.

“I generally consider most of healthcare to look and feel like Windows 95,” Healthvana CEO and founder Ramin Bastani said. “We look and feel like Instagram . Why is that important? Because patients can engage in things they understand, it’s easier for them to communicate in the way they’re used to communicating, and that ends up leading them to better health outcomes.”

Bastani points out that they began the company by focusing this approach to patient education and communication on HIV, and demonstrated that using their software led to patients being 7.4 times more likely to show up for their next follow-up appointment versus patients who received follow-up information and appointment notices via traditional methods. The company has built their tooling and their approach around not only producing better health for individuals, but also on reducing costs for healthcare providers by eliminating the need for a lot of the work that goes into clearing up misunderstandings, and essentially hounding patients to follow-up, which can significantly dig into clinician and care staff hours.

“We’re actually also reducing the cost to healthcare providers, because you don’t have 1,000 people calling you asking what are their results, and saying ‘I don’t understand, I can’t log in, I don’t know what it means to be SARS nonreactive,’ or all those things we address through simplicity,” Bastani said. “That’s made a huge difference. Overall, I think the key to all healthcare is going to be to be able to get patients to pay attention, and take action to things around their health.”

That’s the goal of Healthvana’s partnership with LA County on COVID-19 immunization records, too — taking vitally important action to ensure the successful rollout of its vaccination program. All approved COVID-19 vaccines to date require a two-course treatment, including one initial inoculation followed by a booster to be administered sometime later. Keeping LA county residents informed about their COVID-19 inoculation, and when they’re due for a second dose, is the primary purpose of the partnership, and benefits from Healthvana’s experience in improving patient follow-up activities. But the app is also providing users with information about COVID-19 care, and, most usefully, prevention and ways to slow the spread.

While Bastani stresses that Healthvana is, in the end, just “the last mile” for message delivery, and that there are many other layers involved in determining the right steps for proper care and prevention, the way in which they provide actionable info has already proven a big boon to one key measure: contact tracing. In select municipalities, Healthvana will also prompt users who’ve tested positive to anonymously notify close contacts directly from their device, which will provide those individuals with both free testing options and information resources.

“Just us doing this in the greater Los Angeles area for less than two months, 12,000+ people have been notified that they’ve been exposed,” Bastani said. “Each of them likely lives with other people and families — this is how you can help slow the spread.”

Contrast that with the relatively slow uptake of the exposure notification tools built into iOS and Android devices via recent software updates provided by Google and Apple working in a rare collaboration. While the technology that underlies it is sound, and focused on user privacy, its usage numbers thus far are far from earthshaking; only 388 people have sent alerts through Virginia’s app-based on the exposure notification framework in three months since its launch, for instance.

Healthvana’s focus on timely and relevant delivery of information, offered to users in ways they’re mostly likely to understand and engage with, is already showing its ability to have an impact on COVID-19 and its community transmission. The startup is already in talks to launch similar programs elsewhere in the country, and that could help improve national vaccination outcomes, and how people handle COVID-19 once they have it, too.

News: Following riots, alternative social apps and private messengers top the app stores

Alternative social media apps including MeWe, CloutHub and other privacy-focused rivals to big tech, are topping the app stores following Trump’s ban from mainstream social platforms like Facebook and Twitter and the more recent removal of conservative social app Parler from both the App Store and Google Play. In the days since the Parler ban,

Alternative social media apps including MeWe, CloutHub and other privacy-focused rivals to big tech, are topping the app stores following Trump’s ban from mainstream social platforms like Facebook and Twitter and the more recent removal of conservative social app Parler from both the App Store and Google Play. In the days since the Parler ban, “free speech”-favoring social networks are seeing notable numbers of new downloads at a quick pace, data shows.

Next-generation social network MeWe, founded in May 2012, is one of those that’s seeing the largest bump in new installs.

The app has been steadily growing in the days since the U.S. Presidential Elections and the related increases in moderation of misinformation by larger platforms like Facebook and Twitter. Mainstream social networks enforced their policies and even created new ones to moderate content shared by Trump and his allies — including their baseless claims of election fraud that have not be substantiated by U.S. courts, despite dozens of lawsuits.

To date, MeWe has seen over 16 million global lifetime installs, according data from app intelligence firm Apptopia. However, since Wednesday of last week, the app has been downloaded nearly 200,000 times worldwide. A majority of those new downloads are coming from U.S. users, who accounted for nearly 143,000 installs.

Largely, those users came to MeWe following Parler’s ban from app stores. Apple gave Parler the boot late on Saturday, and MeWe popped in the charts as a result. Saturday through Sunday alone, MeWe gained 110,200+ new installs in the U.S.

The company told us it has seen 1 million new members sign up in the last 72 hours and now adds over 20,000 new members per hour.

Because app stores’ Top Charts reflect not just total downloads but also the velocity of those new installs, MeWe has gained a position in the top 10 very quickly due to recent trends.

As of Sunday, MeWe ranked No. 7 in the U.S. App Store’s Top Overall free charts. It’s already moving up today.

This is remarkable growth for the alternative social app, given that as recently as October the app was not ranked on the App Store’s Top Charts at all. (Being unranked means that the app is so far down on the charts, it’s lower than rank No. 1,500 — so its rank is basically untrackable.) MeWe did, however, chart in the Social Networking category at some points during this time.

Image Credits: App Store screenshot

Another app benefitting from recent events, including the Parler ban, is the relative newcomer, CloutHub.

The app was launched in January 2019 and claims to be a social network for “social, civic, and political networking” with a free speech angle. Its website says it wants to give “everyone a platform to have their voice heard.”

To date, CloutHub has seen just 255,000 total lifetime installs, but 31,000+ of these have come over the past week — or more specifically, since Wednesday. (CloutHub may be struggling with the surge of new users, as we found sign-ups and logins are often timing out). The app as of now ranks No. 11 on the U.S. App Store.

Image Credits: App Store screenshot

Two other apps that have moved into the top charts are cases of mistaken identity.

As Mashable recently reported, an app called “Parlor” is being mistaken for the now-banned “Parler” app. Its report cited Sensor Tower data that said “Parlor” has seen as many as 40,000 downloads in December alone.

Apptopia says the social chat app, founded in May 2011, has seen 8.6 million lifetime global installs. But from Wednesday through Sunday, it gained 115,846 new users — many who were likely looking for “Parler.” Of those, 99,220+ arrived on either Saturday or Sunday, just as the Parler ban was beginning to roll out. Even though Apple didn’t take action on Parler until later on Saturday, users may have come across “Parlor” by searching for it by this alternative spelling.

As of Sunday, “Parlor” became the No. 4 Top App Overall on iOS in the U.S.

Meanwhile, an app called “Gab News” — which is actually just a local news app for the Georgetown area — is also gaining ground. This is because it’s mistaken for the long since banned app “Gab,” which ex-Parler users are suggesting as an alternative. Apple had declined to host Gab back in 2016, citing its pornographic content and later, due to its policies against hosting apps that include hate speech. Though Gab was able to launch on Google Play in 2017, the app was quickly removed from there as well, also for hate speech.

“Gab News,” however, is currently ranking No. 44 on the App Store’s Top Free Apps Chart in the U.S., as of the time of writing. (Download data was not immediately available.)

Then there is Rumble, a conservative alternative to YouTube. The app has gained 2.4 million total global installs since its January 2020 launch, per Apptopia’s estimates. Since Wednesday, that included 91,916 new downloads, 73,700+ of which were in the U.S. It has also climbed to No. 78 on the U.S. App Store, up from No. 1,484 on December 19, 2020.

The Parler ban is not the only thing triggering these shifts, to be clear.

There’s also a general backlash underway against big tech, which many on both sides feel have become too powerful.

Governments have been examining the business models and practices of companies like Apple, Google, Amazon, and Facebook over the past year in markets around the world with an eye on antitrust action. Facebook and Google are also being scrutinized by users for their privacy practices — especially as Apple is now forcing companies to add privacy labels to all apps that disclose what they do with user data.

As a result, some people were turning to alternative networking apps not just because they’re conservative, but because they valued privacy. As a result, encrypted messaging apps like Signal and Telegram are booming in recent days, as is the privacy-focused search engine, DuckDuckGo, a Google.com alternative.

These apps have also picked up steam over the past week. Signal is now No. 1 on the U.S. App Store, Telegram is No. 2, and DuckDuckGo is No. 8. This is rapid growth. Around mid-October 2020, these apps were ranked No. 618, 79, and 715, respectively, Apptopia says.

That said, it’s also worth noting that some users may be seeking out private messaging platforms in the wake of the U.S. Capitol riots, now that the FBI has begun to arrest insurgents. Signal has gained nearly 325,000 new installs since Thursday and Telegram gained 330,600+, for example.

This rapid shift to alternative social and messaging networks is indication of how difficult it may be in the weeks ahead for app stores to enforce their policies. Though the platforms typically crack down on apps hosting hate speech and those allowing incitement of violence, they tend to move slowly than the crowd downloading the next alternative app.

In the meantime, the apps that become popular may struggle with moderation. We’ve already come across examples of both extreme hate speech and calls for assassination on MeWe, for instance. even though the company’s public statements say it investigates and removes this sort of content. (MeWe has been asked to comment).

It’s unclear what the future for these free speech, alternative apps may hold, as platform providers such as Amazon (AWS) are now also declining to host them, and payment providers, like Stripe, which just cut ties with the Trump campaign, may decline to process future online payments. That could leave the networks to ultimately scramble for private funding to build their own infrastructure and stay afloat, as well as to seek out alternative distribution systems, like the web or even sideloading, to reach their users.

 

 

News: Parler sues Amazon, leveling far-fetched antitrust allegations

Parler has sued Amazon after the beleaguered conservative social media site was expelled from AWS, filing a fanciful complaint alleging the internet giant took it out for political reasons — and in an antitrust conspiracy to benefit Twitter. But its own allegations, including breach of contract, are belied by evidence they supply alongside the suit.

Parler has sued Amazon after the beleaguered conservative social media site was expelled from AWS, filing a fanciful complaint alleging the internet giant took it out for political reasons — and in an antitrust conspiracy to benefit Twitter. But its own allegations, including breach of contract, are belied by evidence they supply alongside the suit.

In the lawsuit, filed today in the U.S. Western District Court, Parler complains that “AWS’s decision to effectively terminate Parler’s account is apparently motivated by political animus. It is also apparently designed to reduce competition in the microblogging services market to the benefit of Twitter.”

Regarding the “political animus” it is difficult to speak to Parler’s reasoning, since that argument is supported nowhere in the suit — it simply is never referred to again.

There is the suggestion that Amazon has shown more tolerance for offending content on Twitter than on Parler, but this isn’t well substantiated. For instance, the suit notes that “Hang Mike Pence” trended on Friday the 8th, without noting that much of this volume was, as any user of Twitter can see by searching, people decrying this phrase as having been chanted by the rioters in the Capitol two days prior.

By way of contrast, one Parler post cited by Amazon says that “we need to start systematicly [sic] assasinating [sic] #liberal leaders, liberal activists, #blm leaders and supporters,” and so on. As TechCrunch has been monitoring Parler conversations, we can say that this is far from an isolated example of this rhetoric.

The antitrust argument suggests a conspiracy by Amazon to protect and advance the interests of Twitter. Specifically, the argument is that because Twitter is a major customer of AWS, and Parler is a threat to Twitter, Amazon wanted to take Parler out of the picture.

Given the context of Parler’s looming threat to Twitter and the fact that the Twitter ban might not long muzzle the President if he switched to Parler, potentially bringing tens of millions of followers with him, AWS moved to shut down Parler.

This argument is not convincing for several reasons, but the most obvious one is that Parler was at the time also an AWS customer. If people are going to one customer to another, why would Amazon care at all, let alone enough to interfere to the point of legal and ethical dubiety?

The lawsuit also accuses Amazon of leaking the email communicating Parler’s imminent suspension to reporters before it was sent to administrators at the site. (It also says that Amazon “sought to defame” Parler, though defamation is not part of the legal complaint. Parler seems to be using this term rather loosely.)

Lastly Parler says Amazon is in breach of contract, having not given the 30 days warning stipulated in the terms of service. The exception is if a “material breach remains uncured for a period of 30 days” after notice. As Parler explains it:

On January 8, 2021, AWS brought concerns to Parler about user content that encouraged violence. Parler addressed them, and then AWS said it was “okay” with Parler.

The next day, January 9, 2021, AWS brought more “bad” content to Parler and Parler took down all of that content by the evening.

Thus, there was no uncured material breach of the Agreement for 30 days, as required for termination.

But in the email attached as evidence to the lawsuit — literally exhibit A — Amazon makes it clear the issues have been ongoing for longer than that (emphasis added):

Over the past several weeks, we’ve reported 98 examples to Parler of posts that clearly encourage and incite violence… You remove some violent content when contacted by us or others, but not always with urgency… It’s clear that Parler does not have an effective process to comply with the AWS terms of service.

You can read the rest of the letter here, but it’s obvious that Amazon is not simply saying that a few days of violations are the cause of Parler’s being kicked off the service.

Parler asks a judge for a Temporary Restraining Order that would restore its access to AWS services while the rest of the case is argued, and for damages to be specified at trial.

TechCrunch has asked Amazon for comment and will update this post if we hear back. Meanwhile you can read the full complaint below:

Parler v Amazon by TechCrunch on Scribd

News: Affirm boosts its IPO price target, more than doubling its latest private valuation

This morning Affirm, the buy-now-pay-later financing startup, raised its IPO price range to $41 to $44 per share, up from a previous range of $33 to $38 per share. The sharp repricing is steep in percentage terms, with the bottom end of Affirm’s range rising a little more than 24% and the top end gaining

This morning Affirm, the buy-now-pay-later financing startup, raised its IPO price range to $41 to $44 per share, up from a previous range of $33 to $38 per share.

The sharp repricing is steep in percentage terms, with the bottom end of Affirm’s range rising a little more than 24% and the top end gaining a smaller 16%.

For Affirm, the news means a larger IPO fundraising haul and a confirmation from public investors that its model, its economics, its business performance and its relationship with Peloton are incredibly valuable.


The Exchange explores startups, markets and money. Read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday.


As TechCrunch wrote when Affirm first affixed a price range to its IPO, the fintech unicorn will be worth a multiple of its final private price. The company was valued at around $2.9 billion in a 2019 round and raised more capital at a higher $19.93 per-share price in September of 2020; the company’s IPO price range is now more than double what the company was worth less than half a year ago.

Let’s calculate Affirm’s new simple and diluted new valuation ranges, and contrast those with its recent revenues to get a handle regarding how close to software numbers the startup can get its revenue multiple.

Inside the math

Very little has changed in Affirm’s S-1 filings when it comes to share counts. Today’s new S-1/A filing does include a note concerning around 18,824 shares, but past that it appears that most things are holding steady.

News: Facebook hires a VP of civil rights

Facebook has hired Roy Austin to become its first-ever VP of Civil Rights and Deputy General Counsel to create a new civil rights organization within the company, Facebook announced today. Austin is set to start on January 19 and will be based in Washington, DC. Austin most recently served as a civil rights lawyer at

Facebook has hired Roy Austin to become its first-ever VP of Civil Rights and Deputy General Counsel to create a new civil rights organization within the company, Facebook announced today. Austin is set to start on January 19 and will be based in Washington, DC.

Austin most recently served as a civil rights lawyer at Harris, Wiltshire & Grannis LLP. Prior to that, Austin co-authored a report on big data and civil rights and worked with President Barack Obama’s Task Force on 21st Century Policing.

“I am excited to join Facebook at this moment when there is a national and global awakening happening around civil rights,” Austin said in a statement.

Roy Austin, Facebook’s new VP of Civil Rights

“Technology plays a role in nearly every part of our lives, and it’s important that it be used to overcome the historic discrimination and hate which so many underrepresented groups have faced, rather than to exacerbate it. I could not pass up the opportunity to join a company whose products are used by so many and which impacts the civil rights and liberties of billions of people, in order to help steer a better way forward.”

It’s not clear what the goals or responsibilities of the civil rights organization within Facebook will be, but we’ve reached out to Facebook for more information. In the meantime, here’s what Facebook’s Chief General Counsel Jennifer Newstead said on the company blog:

I am delighted to welcome Roy to Facebook as our VP of Civil Rights. Roy has proved throughout his career that he is a passionate and principled advocate for civil rights — whether it is in the courtroom or the White House. I know he will bring the same wisdom, integrity and dedication to Facebook. It’s hard to imagine anyone better qualified to help us strengthen and advance civil rights on our platform and in our company.

In July, former ACLU director Laura W. Murphy released the results of the multiyear investigation and civil rights audit of Facebook. The report highlights some progress, such as Facebook changing its policy on discriminatory housing and employment ads, expanding its voter suppression policies and having more frequent meetings with civil rights leaders. But the auditors still raised a number of concerns, many of which pertained to the 2020 U.S. election and President Trump.

In light of a pro-Trump mob storming the U.S. Capitol last week, Facebook CEO Mark Zuckerberg blocked Trump from both Facebook and Instagram at least through the inauguration of President-elect Joe Biden.

News: Inside SuperCharger Ventures’ debut virtual edtech accelerator

Before the pandemic, edtech companies went decades without raising financing due to lack of interest from generalist venture capitalists. Now, more than a year since COVID-19 began, the sector is showing signs of maturation, from first profits to unicorns, potential IPOs and a rush of talent. Momentum in mind, cross-border venture capital firm SuperCharger Ventures

Before the pandemic, edtech companies went decades without raising financing due to lack of interest from generalist venture capitalists. Now, more than a year since COVID-19 began, the sector is showing signs of maturation, from first profits to unicorns, potential IPOs and a rush of talent.

Momentum in mind, cross-border venture capital firm SuperCharger Ventures is launching a debut accelerator exclusively for early-stage edtech founders. The 12-week accelerator, which kicks off today, is being held virtually, with six startups in the debut cohort.

Interestingly, this isn’t the firms’ first time doing an accelerator. SuperCharger has led three cohorts of startups through a fintech-focused accelerator. The pivot from one booming category to another boils down to a simple dynamic, says SuperCharger Ventures co-founder Janos Barberis: banks.

“Banks just don’t have the space or the bandwidth to start dealing with innovation right now,” Barberis said. The co-founder thinks that COVID-19 created a supply and demand unevenness between fintech services and banks, and as many branches struggle to stay open, “the first thing banks cut is innovation.”

So, the firm is hopping to edtech, and taking a key lesson with it from its fintech experience: the importance of B2B and recurring revenue streams.

“The corporate angle? It’s sticky, healthy and revenue driven,” Barberis said. “It’s healthy income, and I think right now investors are willing to pay for that healthy income.”

Financially, Barberis’ argument is hard to disagree with. But when you look at some of the biggest edtech unicorns in this current moment, many are B2C, including Quizlet, Course Hero and ApplyBoard. It’s because in education, it sometimes can be easier to sell to the end-user than dealing with highly fragmented institutions — at least in the United States.

Still, B2B businesses have the biggest potential for reach, and we’re seeing consumer businesses turn COVID-19 demand into enterprise deals. There’s also hope to be found internationally, which can sometimes have a less fragmented market of institutions, says Barberis.

Beyond B2B sales, cohort startups must be focused on expanding into European and Asian markets.

Barberis sees opportunity in those markets, minus China, because both appear to have gaps in edtech. In Europe, he says there’s a high demand for corporate digital learning from universities, and in Asia, he thinks that investor education is necessary so bets can be placed in countries beyond simply China. On one end there is demand, and on the other end there is opportunity to generate demand.

He leaves out China from the Asian market expansion because he thinks that the country, like the United States, is too saturated with companies right now.

The programming fits the normal accelerator model, with information tailored explicitly to the world of education, such as how to partner with an education institution or shorten sales cycles (as so much of edtech B2B sales happens during the summer months).

The firm doesn’t give any capital, but takes between 1-2% of equity in return for its services, which it estimates cost between $75,000 and $100,000 in “value.” SuperCharger culminates with a Demo Day, and companies in aggregate plan to raise between $15 to $20 million in venture capital.

Other firms have similarly created accelerator programs during the pandemic to help with deal flow and stay competitive in the always-hot seed space, including NextView Ventures.

This isn’t SuperCharger Ventures’ first time doing an accelerator. The firm held three fintech-focused accelerators in the past, graduating 49 companies. The pivot from one booming sector to another comes from fintech saturation, says Barberis.

Out of 208 applications, SuperCharger landed on six companies in its debut cohort:

  • Axon Park: Founded by Taylor Freeman, Axon Park is using virtual reality to virtually train workforces, such as teaching proper PPE procedures to healthcare professionals. It sells its programming to businesses, governments and universities.
  • BSD Education: Co-founded by Christopher Geary and Nickey Khemchandani, the startup sells tech curriculum to schools teaching students between the ages of eight and 18. Beyond curriculum, the startup offers professional training development for teachers and a platform for online learning to be held.
  • Dijital Kolej: Zeynep Dereli and Ferruh Gürtaş are betting on an online hybrid education model that balances asynchronous and synchronous learning throughout the day.
  • Newcampus: The startup, launched by Will Fan and Fei Yao, describes itself as a gym membership for learning experiences. It’s part of the wave of companies focused on lifelong learning, with a focus on leadership information.
  • Ringbeller: CJ Casciotta is working on a startup that uses interactive video lessons to teach kids soft skills, such as creativity and kindness.
  • Roybi: Elnaz Sarraf and Ron Cheng are creating an AI-robot that teaches kids topics in STEM.

News: Square Off introduces a rollable connected chess board

We’ve been covering Square Off at CES for a couple of years now — ever since the connected chess startup competed in one of our pitch offs. The Mumbai-based startup has been rapidly iterating on technology that lets users play a physical chess game with opponents across the globe, including the arrival of the new

We’ve been covering Square Off at CES for a couple of years now — ever since the connected chess startup competed in one of our pitch offs. The Mumbai-based startup has been rapidly iterating on technology that lets users play a physical chess game with opponents across the globe, including the arrival of the new modular gaming system, Swap.

Today at CES, it announced the upcoming arrival of a new rollable system, adding a level of portability to its offering. Obviously you lose some of the magic here — the self-moving pieces have been sacrificed in order to bring a board that can be rolled up and stashed in a backpack for easier transport. That effect was a big part of what made the tech so eye-catching in the first place.

Image Credits: Square Off

The system will still take advantage of Square Off’s existing AI and connected technologies, allowing people to play globally against competitors. Between the continued inability to congregate in-person and the rise in interest in chess in the wake of Netflix’s wildly popular “The Queen’s Gambit,” this seems like an opportune time for the startup to launch a new product.

Unlike past offerings, the company won’t be going through a crowdfunding site to launch this one. Square Off expects to bring the product to market around March, priced at $199.

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