Tech News: 22.01.23

American Express to Acquire Israel-Based Tech Company Nipendo

American Express announced that it will acquire B2B payments automation company, Nipendo. The acquisition aims to enhance American Express's B2B payments capabilities and provide customers with a more seamless and efficient experience. The Nipendo platform offers a range of solutions including purchase order automation, invoice automation, and spend management. The financial details of the acquisition have not been disclosed.

New tech startup developing smart contact lenses for glaucoma diagnosis and management

BVS Sight Inc at Purdue University is developing smart contact lenses that can detect and monitor glaucoma in real-time, providing patients with improved care and management options. The startup aims to create a non-invasive method for diagnosis and monitoring of the condition, with the goal of improving quality of life for those affected by glaucoma.

Actor Ashton Kutcher leads Climate Tech Startup investment at $15M for his new venture firm

Ashton Kutcher's venture firm, Sound Ventures, has led a $15 million investment in a climate tech startup, which is developing technology to reduce greenhouse gas emissions and capture carbon dioxide from the atmosphere. The startup aims to provide solutions to mitigate the effects of climate change and combat global warming. The financial details of the investment have not been disclosed, but it will be used to develop and bring the technology to market.

Industry News

Cybersecurity

Radicl Defense adds 491 new workers as Colorado approves $2.4 million budget in incentives

Colorado-based tech startup Radicl Defense has raised $3 million in funding to expand its team and further develop its technology. The company specializes in providing advanced threat detection and response services to protect businesses and organizations against cyber attacks. The funding will be used to hire additional staff, with the goal of doubling the size of the company's team in the next year.

Health Tech

Crescendo Health raises $3.4 million in seed to innovate medical research by cracking traditionally siloed health data.

Crescendo Health, a health technology company, is building a surge of real-world data to accelerate clinical trials. The company aims to gather large amounts of data from patients, healthcare providers, and payers in order to improve clinical trial design and speed up the drug development process. 

Space Tech

Microsoft and ISRO join forces to support space tech startups in India

Microsoft and Indian Space Research Organization (ISRO) have joined hands to support Indian space technology start-ups. The partnership aims to provide technical and business support to Indian space start-ups, and to help them develop and commercialize their space technologies. It also aims to foster innovation and entrepreneurship in the space technology sector in India.

AI

Google is set to develop new AI search engine to go head-to-head with ChatGPT

Google is working on a new AI search engine and 21 new AI products in response to the increasing competition from OpenAI's GPT-3 (ChatGPT) technology. Google is concerned that the advanced capabilities of GPT-3 will threaten its dominance in the search engine market and is taking steps to improve its own AI technology. The new search engine will focus on providing more accurate and relevant results, while the 21 new AI products will include a variety of applications such as natural language processing, computer vision, and machine learning. 

Funding

South Korean hospitality tech startup raises $10 million in Series B funding

South Korean hospitality tech start-up Onda has raised $10 million in a funding round. The startup specializes in providing technology solutions for hotels and other accommodation providers, including features such as property management systems, revenue management, and distribution. The funding will be used to expand the company's offerings and to develop new technology to better meet the needs of hoteliers and the hospitality industry. 

Pet tech startup $11 million in Series A Funding led by Atomico

Pet-tech startup Digitail has raised $11 million in a Series A funding round, led by Atomico. Digitail is developing a platform that uses AI and machine learning to help pet owners manage their pet's health and wellness. The platform includes features such as personalized nutrition plans, activity tracking, and diagnostic tools. The funding will be used to expand the company's offerings and to further develop its technology.