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German Startup TRAIT Secures €1M to Boost AI Training App with Empathetic Support

German Startup TRAIT Secures €1M to Boost AI Training App with Empathetic Support

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German firm TRAIT has raised seed money worth €1 million from HTGF,  angel club Better Ventures, and other individual investors. The money will help the company develop its AI training technology further, with the goal of giving runners a more individualised and compassionate training environment.

Utilisation of Funds

German Startup TRAIT Secures €1M to Boost AI Training App with Empathetic Support

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With an emphasis on developing a compassionate and flexible learning environment, TRAIT will use the funding to improve its AI-driven teaching platform. The goal of this development is to give runners’ health and well-being equal priority. “TRAIT’s goal of developing an AI training system for athletes that is both adaptive and sympathetic excites us. It’s intended to build people’s mental as well as physical power, according to Johannes Dierkes, HTGF Investment Manager.

Relaunching and Rebranding

TRAIT is reintroducing its training app, now known as TRAIT for runners, in addition to the investment. The Android and iPhone app stores offer the most recent version of the software for free. The startup’s effort to provide a more individualised and encouraging training experience has reached a major milestone with this redesign.

Taking Up Major Issues

According to TRAIT’s research, many people fall short of their fitness objectives not because they don’t have enough workouts or data, but rather because their training programs are rigid and they don’t have the right kind of support system. Through tackling these two crucial concerns, TRAIT seeks to guarantee that nobody is left behind when faced with obstacles in life.

How TRAIT Operates

The goal of TRAIT, which was founded in 2021 by Matthias Ettrich and Raphael Jung, is to assist people in reaching their fitness objectives and leading more active and sustainably satisfying lives. The organization fosters a friendly atmosphere by fusing community spirit with science-based instruction. The prior iteration of the application had a notable expansion, with downloads rising by 178% yearly. TRAIT wants to provide runners with even more individualized support by building on its previous accomplishments.

“With TRAIT, we have developed an app that is as empathetic and understanding as a human coach would be. We help people get back into sports by combining sports science and AI training with real social support. With the help of HTGF and other investors, we are ready to revolutionize the way people think about fitness,” said Raphael Jung, CEO of TRAIT.

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Also Read: Vodafone Sells €1.3 Billion Stake in Vantage Towers to Reduce Debt

An Industry First Benchmark

With its AI-powered, compassionate training platform, TRAIT has the potential to completely transform the fitness sector. It touches on important obstacles to reaching fitness objectives by emphasizing individualized and adaptable training regimens. It establishes a new benchmark for the industry with its emphasis on fusing sports science with a welcoming community.

Vodafone Sells €1.3 Billion Stake in Vantage Towers to Reduce Debt

Vodafone Sells €1.3 Billion Stake in Vantage Towers to Reduce Debt

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Vodafone Group Plc has sold a 10% stake in Vantage Towers, a transaction valued at €1.3 billion ($1.4 billion). This sale is a strategic move by the UK-based telecommunications giant to reduce its significant debt burden. The transaction is part of a broader agreement announced in November 2022, where Vodafone agreed to sell its stake in the German tower company at €32 per share to KKR & Co. and Global Infrastructure Partners (GIP).

Vodafone Sells €1.3 Billion Stake in Vantage Towers to Reduce Debt

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Under the terms of this deal, Vodafone initially moved its 81.7% holding in Vantage Towers into a joint venture with KKR and GIP, named Oak Holdings. Since then, Vodafone has been progressively selling its stake. With this latest sale, Vodafone’s total proceeds from the deal have reached €6.6 billion. Following this transaction, Vodafone now holds a 50% stake in Oak Holdings, aligning with the original vision of the consortium.

Strategic Moves Amid Financial Challenges

The sale comes as European telecom operators face challenges in generating returns on their capital investments. Many companies in the sector have resorted to selling stakes or entire infrastructure operations to raise funds. Vodafone is no exception, with its recent actions reflecting a broader trend in the industry.

Vodafone’s Chief Executive Officer Margherita Della Valle, who assumed leadership last year, has been actively working on restructuring the company’s extensive portfolio. Her turnaround plan has involved divesting underperforming markets and focusing on core operations. This strategy has seen Vodafone exit from Spanish and Italian markets, and it includes an attempted merger with CK Hutchison’s Three, which is currently under review by the UK competition authority.

Also Read: The Inspiring Story of Livia Voigt, the World’s Youngest Billionaire

The sale of the Vantage Towers stake underscores Vodafone’s commitment to reducing its debt and streamlining its operations. By focusing on core markets and partnerships, Vodafone aims to strengthen its financial position and enhance its ability to invest in future growth opportunities.

US Grants Up to $400 Million to Taiwan's GlobalWafers for Semiconductor Boost

US Grants Up to $400 Million to Taiwan’s GlobalWafers for Semiconductor Boost

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In a significant move to bolster the domestic semiconductor supply chain, the US Commerce Department announced on Wednesday plans to grant Taiwan’s GlobalWafers up to $400 million. This funding aims to significantly increase the production of silicon wafers within the United States, a crucial component in the manufacturing of advanced semiconductors.

Major Investments in Texas and Missouri

US Grants Up to $400 Million to Taiwan's GlobalWafers for Semiconductor Boost

Image Source: forbes.com

The awarded funds are earmarked for projects in Texas and Missouri, where GlobalWafers will establish the first US production of 300-mm wafers for advanced semiconductors. These projects will also expand the production of silicon-on-insulator wafers. The Commerce Department highlighted that this subsidy would support a substantial $4 billion investment by GlobalWafers in both states. This initiative is expected to create 1,700 construction jobs and 880 manufacturing jobs, signaling a considerable economic boost for the regions involved.

Commerce Secretary Gina Raimondo emphasized the strategic importance of this development, stating, “GlobalWafers will play a crucial role in bolstering America’s semiconductor supply chain by providing a domestic source of silicon wafers that are the backbone of advanced chips.” The sentiment was echoed by GlobalWafers Chairwoman and CEO Doris Hsu, who expressed gratitude for the US government’s support, noting, “GlobalWafers is pleased to be a key node in the U.S. semiconductor supply chain.”

Strengthening the US Semiconductor Supply Chain

Currently, GlobalWafers, alongside four other major companies, controls over 80% of the global 300mm silicon wafer manufacturing market. Notably, about 90% of silicon wafers are produced in East Asia, underscoring the strategic importance of developing domestic capabilities.

Under the planned subsidy, GlobalWafers intends to build and expand facilities in Sherman, Texas, for the production of wafers used in leading-edge, mature-node, and memory chips. Additionally, a new facility in St. Peters, Missouri, will focus on producing wafers for defense and aerospace applications. The company also plans to convert part of its existing silicon epitaxy wafer manufacturing facility in Texas to produce silicon carbide epitaxy wafers, which are vital for electric vehicles and clean energy infrastructure.

This expansion aligns with GlobalWafers’ 2022 announcement to construct a $5 billion plant in Texas dedicated to manufacturing 300-mm silicon wafers. This decision came in response to geopolitical concerns and the need to address US semiconductor supply chain resiliency issues, shifting focus from an initially planned investment in Germany.

Also Read: TikTok Suffers Setback in Initial Challenge to EU Big Tech Regulations

The US government’s support for domestic semiconductor production was further solidified with the 2022 approval of the Chips and Science Act, which allocated $52.7 billion in research and manufacturing subsidies. The latest award to GlobalWafers, part of the $30.1 billion announced through the chips subsidy program, is still subject to finalization following the Commerce Department’s due diligence.

This strategic investment in domestic semiconductor manufacturing capabilities marks a significant step towards enhancing the resilience and security of the US technology supply chain, ensuring that the nation remains competitive in the global semiconductor market.

TikTok Suffers Setback in Initial Challenge to EU Big Tech Regulations

TikTok Suffers Setback in Initial Challenge to EU Big Tech Regulations

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According to a verdict by the European Union’s General Court, TikTok was defeated in its first legal battle with the European Union’s (EU) attack on big tech. The court ruled that TikTok, controlled by ByteDance Ltd., cannot avoid the new Digital Markets Act (DMA), which aims to govern the most powerful digital corporations, such as Google and Apple Inc.

Court Ruling

TikTok Suffers Setback in Initial Challenge to EU Big Tech Regulations

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The European Union’s General Court decided that TikTok met the DMA’s standards, which went into operation in March. The court found that ByteDance’s complaint opposing the European Commission’s judgment lacked adequate grounds. TikTok expressed unhappiness with the verdict and noted that it has already implemented procedures to ensure compliance with the DMA. The ruling can still be challenged by the European Court of Justice, the European Union’s top court.

The Digital Markets Act (DMA)

The DMA tries to prohibit dominant tech companies from carrying out anti-competitive behaviour. The rule affects platforms with annual revenue in the European Union of at least €7.5 billion ($8.2 billion) or an estimated market value of €75 billion. Furthermore, all platforms need to have more than forty-five million monthly active end users in addition to more than 10,000 annual active business users in the European Union (EU).

Concerns for Tech Giants

The DMA prohibits big platforms from preferring their services over competitors’, merging private information across numerous platforms, and competing against them with data gathered from third-party vendors. In addition, they must allow consumers to download apps from other platforms. This regulation affects major firms such as Alphabet Inc.’s Google search engine, Apple’s Safari, as well as Amazon.com Inc.’s Marketplace. Both companies, Apple and Meta Platforms Inc. have questioned the DMA’s categorization of certain services.

Broader Context

TikTok’s legal proceeding is part of a larger global probe of the platform, which includes worries about its Chinese holdings. In the United States, President Joe Biden agreed to the legislation in April to outlaw TikTok unless ByteDance relinquishes control. This measure quickly passed via Congress, causing TikTok to question its legitimacy.

Furthermore, European Union regulators are looking into TikTok for elements that may be damaging to children, which could lead to fines of up to 1% of its yearly revenue in total under the European Union’s new Digital Services Act.

Also Read: Health AI Innovator Huma Secures $80 Million, Nearing $1 Billion Valuation

Conclusion

The verdict against TikTok confirms the EU’s strict stance on governing Big Tech. As the corporation works to comply with the DMA, it stays under worldwide investigation, with substantial ramifications for its business practices as well as development in the computer industry.

 
Health AI Startup Huma gets $80 Million at near-$1 Billion Valuation

Health AI Innovator Huma Secures $80 Million, Nearing $1 Billion Valuation

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Huma Therapeutics Ltd., a London-headquartered health AI startup, has successfully raised $80 million in a Series D financing round, pushing its valuation close to the $1 billion mark. This funding round features investments from prominent players such as AstraZeneca Plc, Bayer AG, Hitachi Ventures, and Italy’s Hat Technology Fund.

Impressive Growth and Vision

Health AI Startup Huma gets $80 Million at near-$1 Billion Valuation

Image Source: forbes.com

Huma Therapeutics Ltd. has made significant strides in the health AI sector, doubling its annual revenue to $40 million in 2023 and setting its sights on profitability by the end of the year. The startup, which has now raised a total of $300 million, aims to democratize access to digital health, according to Chief Executive Officer Dan Vahdat. In a video interview, Vahdat likened Huma’s vision to that of Shopify for digital health, emphasizing the company’s goal of enabling both large and small users to benefit from its platform.

“Huma is Shopify, but for digital health,” Vahdat said. “We want to democratize access to users big and small.”

Huma’s platform leverages generative AI to assist developers in reducing costs, accelerating development, and ensuring compliance with global regulations when building health-care applications. The platform’s capabilities extend to configuring disease management tools for patients with conditions such as asthma, diabetes, and cancer. Hospitals and clinics can also utilize Huma’s generative AI services to minimize administrative tasks and reduce the staffing needed for monitoring patients with chronic diseases.

Expanding Global Reach

With the new funding, Huma plans to further develop its platform and expand its global presence. Currently, Huma’s technology is employed by 3,000 hospitals and clinics, and the platform boasts 1.8 million active users across more than 70 countries. The company has established collaborations with half of the world’s top 20 drugmakers, showcasing the platform’s utility in managing various health conditions. For instance, a product developed for asthma management has garnered 140,000 users in the US within a year.

The healthcare AI landscape is rapidly evolving, with a growing number of providers turning to artificial intelligence to streamline costs and improve healthcare delivery times. Other notable players in the sector include K Health, which raised $50 million for its chatbot service that pre-screens patients before they consult with primary care physicians. Additionally, non-invasive blood-testing company Karius Inc. and medical-image sharing firm PocketHealth Inc. have also secured financing this year.

Also Read: Huawei Invests $1.4 Billion in Shanghai Center Amid Intensifying Chip Wars

As Huma continues to expand its footprint and innovate within the health AI domain, its recent funding success marks a significant milestone in its journey towards revolutionizing digital health.

Huawei Invests $1.4 Billion in Shanghai Center Amid Intensifying Chip Wars

Huawei Invests $1.4 Billion in Shanghai Center Amid Intensifying Chip Wars

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Huawei Technologies has wrapped up the building process of its magnificent 10-billion-yuan (about 1.4 billion dollars) research and development ( R&D ) facility in Shanghai, indicating a considerable investment in the company’s technological skills amid competitors worldwide.

Campus Layout

Huawei Invests $1.4 Billion in Shanghai Center Amid Intensifying Chip Wars

Image Source: asia.nikkei.com

Huawei’s new premises, Lianqiu Lake Research and development Centre, is 160 hectares in size and is situated in Jinze which is Shanghai’s Qingpu district. The premise is an enormous structure of eight blocks along with 104 buildings, each precisely constructed to accommodate labs, offices, and recreational facilities. Notably, these amenities are linked through an internal railway system, allowing for smooth mobility across campus.



Strategic Focus Areas

The Lianqiu Lake Research and development Center is geographically located to help Huawei advance its efforts in major technology sectors such as semiconductors, wireless networks, and the Internet of Things (IoT). With plans to attract about 30,000 research and development individuals, the campus intends to stimulate innovation and speed research in important fields.

Vision for Innovation

Ren Zhengfei, Huawei’s founder and chief executive officer, has defined a grandiose goal for the campus, describing it as a worldwide research and development powerhouse that will establish new benchmarks for innovation in technology. Ren’s desire to foster an atmosphere favourable to global talent is apparent in campus facilities such as more than 100 cafes geared to attract foreign engineers and scientists.

Completion and Operationalization

While some finishing touches, such as bridge building and greening initiatives, are still in the works, critical infrastructure such as signage, district roadways, and rail services have been finished. According to rumours, the Lianqiu Lake complex will begin operations soon, demonstrating Huawei’s dedication to driving technical innovation from its Shanghai headquarters.

Strategic Implications

The successful completion of the company’s $1.4 billion research and development centre comes at a critical time, with increased global rivalry, notably in semiconductor manufacturing. As geopolitical pressures impact supply chains and innovations in technology, Huawei’s growing research and development footprint demonstrates its commitment to remaining at the top of innovation.

Also Read: Apple India Sales Jump by Record 33% as Focus Shifts from China

Conclusion

Huawei’s expenditure in the Lianqiu Lake Research and Development Centre is beyond just the construction of infrastructure; it signals a strategic shift toward strengthening its strengths in crucial technologies. Despite the obstacles provided by the current chip battle, Huawei intends to strengthen its position as a global tech leader by focusing heavily on hiring global talent and promoting innovation.

As Huawei’s Lianqiu Lake complex prepares to begin operations, its influence on innovation in technology and international competitiveness will continue to determine the sector’s future.