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Former Tesla, OpenAI exec founds ‘AI native’ education startup Eureka Labs

The startup aims to create virtual teaching assistants using generative AI.

Andrej Karpathy, who directed artificial intelligence for Tesla and co-founded OpenAI, is launching startup Eureka Labs to build “a new kind of school that is AI native,” according to a July 16 social media post on the X platform.

Eureka is creating virtual teaching assistants powered by generative AI to bring top courses to vastly more students without sacrificing the personalized interactions typical of in-person learning. The startup’s ultimate goal is to bring elite educators and coursework to students throughout the world, regardless of barriers such as geography and language.

“Unfortunately, subject matter experts who are deeply passionate, great at teaching, infinitely patient and fluent in all of the world’s languages are also very scarce and cannot personally tutor all 8 billion of us on demand,” Karpathy said in the post. “However, with recent progress in generative AI, this learning experience feels tractable.”

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$207 Million Invested in AI, Crypto and Blockchain Startups in 96 Hours

7 Million Invested in AI, Crypto and Blockchain Startups in 96 HoursBased on data from the past four days, 14 distinct artificial intelligence (AI), cryptocurrency and blockchain startups and projects secured approximately $207.28 million in investor funding. The leading entity for July is Sentient, an open-source AI platform, which garnered $85 million from Founders Fund, Framework Ventures, and Pantera Capital. Four-Day Funding Frenzy In the initial […]

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Sentient closes $85M seed round for open-source AI

The round was led by Peter Thiel’s Founders Fund alongside Pantera Capital, Framework Ventures and others.

Sentient, an open-source development platform for artificial intelligence (AI), has secured $85 million in a seed funding round led by Peter Thiel’s Founders Fund alongside Pantera Capital and Framework Ventures. 

According to a July 2 announcement, the funds will support the hiring of engineers and the development of Sentient’s open AI platform. The startup is an AI research organization that wants to enable AI developers to monetize their open-source models and data, similar to other ecosystems such as the Super Intelligence Alliance.

“We are in an era reminiscent of the 1995 closed-source software landscape. At present, the dominance of closed-source AI has centralized immense power with a few organizations. Although open-source AI development exists, it lacks sufficient incentives for developers and does not enable them to be equal stakeholders,” the company stated.

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VC Roundup: Investors double down on funding for crypto, blockchain startups

This edition of Cointelegraph’s VC roundup features Plural Energy, Everclear, Ava Protocol, GoPlus, and other startups.

Venture capitalists are increasingly raising capital to pour into blockchain-based startups. Over the past two weeks, Paradigm closed a third fund to invest $850 million in early-stage crypto projects, while Pantera Capital is seeking more than $1 billion for a new fund that will offer exposure to a “full spectrum” of blockchain assets by 2025.

Also worth noting is that another $1 billion for startups might come from Tether's coffers. Over the next 12 months, the company plans to invest in areas like emerging markets, artificial intelligence and biotech. Tether’s VC arm has already spent about $2 billion in the past two years on technologies such as AI and alternative financial infrastructure.

As for startups, June’s highlights so far include Avail’s $43 million funding to address data availability issues across blockchains and Mirror World Labs’ $12 million in Series A funding promised to accelerate its Sonic protocol.

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Crypto Sector Secures $317M in Venture Capital Deals in Early June

Crypto Sector Secures 7M in Venture Capital Deals in Early JuneWith the first half of June concluded, there have been 37 venture capital deals and fundraising events in the crypto sector. Collectively, these investments totaled $317.87 million, with Avail, a modular blockchain project, leading the pack with $43 million. 37 Crypto Startups and Projects Gather $317 Million Crypto investments are ongoing, and in the last […]

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Crypto Biz: ARK drops bid for spot Ether ETF, miners adapt after halving, and more

This week’s Crypto Biz explores ARK Invest’s partnership with 21Shares, Galaxy Digital’s tokenized loan for Animoca Brands, Avail’s fundraising, the Toposware acquisition, and Bitcoin miners’ first reports since the halving.

In a sudden decision, investment firm 21Shares submitted a filing to the Securities and Exchange Commission in the late afternoon of Friday, May 31, to rename its proposed spot Ether (ETH) exchange-traded fund (ETF) and to remove ARK Invest from the application.

A spokesperson for ARK Invest later confirmed the firm decided not to move forward with the crypto product, citing a need to reassess its investment strategy. The move raised concerns among the crypto community concerning the short-term viability of the newly approved ETFs.

During an interview on June 5, United States Securities and Exchange Commission (SEC) Chair Gary Gensler suggested a delay in final approvals for asset managers. ETFs will “take some time,” said Gensler. The SEC has yet to sign off on S-1 registration statements from applicants.

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M^0 secures $35M Series A round for stablecoin issuance network

As part of the fundraising, M^0 has deployed its core protocol and on-chain governance mechanism on the Ethereum mainnet.

Decentralized infrastructure provider M^0 has secured $35 million in a Series A round for its stablecoin issuance platform. 

Bain Capital Crypto led the funding with existing investors and partners Galaxy Ventures, Wintermute Ventures, GSR, Caladan and SCB 10X. According to an announcement, the company deployed its core protocol and on-chain governance mechanism on the Ethereum mainnet on June 4.

M^0 allows institutional clients to mint stablecoins based on high-quality collateral, such as United States Treasurys. The process is akin to asset tokenization, allowing institutional investors to convert assets into digital tokens — in this case, a stablecoin.

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Crypto Startup Funding Hits $2.4 Billion in Q1

Crypto Startup Funding Hits .4 Billion in Q1Crypto startup funding rose to $2.4 billion in the first quarter of 2024, driven by expectations of lower interest rates and the launch of the first U.S. bitcoin spot exchange-traded funds (ETFs), according to Pitchbook data. This funding, spread across 518 deals, marked a 40.3% increase from the previous quarter, even as global venture capital […]

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62 Crypto Projects Raise $474M in 20 Days, Led by Sophon and Securitize

62 Crypto Projects Raise 4M in 20 Days, Led by Sophon and SecuritizeAccording to the latest data, 62 blockchain or cryptocurrency projects have collectively raised $474 million over the past 20 days of May. Leading the charge, the entertainment-focused blockchain project Sophon garnered $60 million in a node sale, with Securitize following closely, raising $47 million. May Sees $474M Invested in Blockchain Startups Since the start of […]

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Mastercard Welcomes 5 Startups to Blockchain and Digital Asset Program

Mastercard Welcomes 5 Startups to Blockchain and Digital Asset ProgramMastercard’s Start Path Blockchain and Digital Asset program has expanded to include five new startups, aiming to explore innovative uses of blockchain technology. “Digital assets are becoming increasingly mainstream, speeding up commerce with trust and transparency,” Mastercard stated. Mastercard’s Digital Asset Program Expands Payments giant Mastercard announced Wednesday that five startups from around the world […]

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