Posts

Showing posts from October, 2020

The 100X Club: Software Startup Valuations Skyrocket Despite Small Revenue - The Information

Image
When San Francisco–based Retool raised new funding this month, investors valued the maker of software development tools at just below $1 billion, or 100 times its annualized revenue of roughly $10 million. This price, essentially a bet that the three-year-old firm’s growth has just begun, is becoming the new standard for financing hot Silicon Valley startups. Retool is one of several fast-growing software businesses, including note-taking app Notion, business software company Postman, and video communications tool Loom, to command large valuation multiples in recent months, according to people familiar with the companies. These transactions reflect investor optimism about demand for cloud-based software, which has spiked during the coronavirus shutdowns, as well as a flood of venture capital that has led to intense and growing competition for deals.

Madison-based startup looking to revolutionize computing with a new type of computer chip - Madison.com

Image
SimpleMachines' computer chip may not look all that different from what already exists in many computers, but the company's founder said the technology has the potential to speed up advancements in software development. SimpleMachines Inc. Shelley K. Mesch | Wisconsin State Journal A Madison-based startup says its new technology could revolutionize computer programming and advance development of artificial intelligence and machine learning. Founded in 2017 by UW-Madison researcher Karu Sankaralingam, SimpleMachines Inc. is ready to launch a new type of computer chip that Sankaralingam said is faster and more powerful than currently available chips while using less electricity. Launching sales early next year with about 300 manufactured computer chips — called Mozart — SimpleMachines will begin working with customers — primarily companies with large data centers, such as banks — to adopt the new computer chip. Sankaralingam said the chip has the pote

Tech Startup iFarm Raises US$4 Million to Expand Do-It-Yourself Urban Farms - Food Tank

Image
The Finnish technology startup iFarm recently raised US$4 million to build vertical farms for more customers across Europe and the Middle East. Using these funds, iFarm aims to help more entrepreneurs and businesses set up their own urban farms—at any time, in any place. iFarm, founded in 2017, develops autonomous farming systems to grow greens, berries, and edible flowers indoors. It sells smaller, individual growing modules, as well as vertical farms for larger-scale production. Most urban farming companies do one of two things: grow and sell their own food or manufacture technology to assist experienced farmers, such as LED lights and robots that can monitor and harvest produce. iFarm falls into a third, less common category. Rather than standalone technology, the company sells entire urban farming systems with built-in robotics. These systems enable customers to start farms with little to no knowledge of agriculture. iFarm’s growing module, iFarm Cropper , is designed for g

Endicott glass recycling project attracts local company - WBNG-TV

Image
(WBNG) -- Village of Endicott officials are looking into bringing a glass recycling facility to the area, and now a Binghamton-based startup company is hoping to get involved. Endicott officials say they want the village to become a clean energy capital, and one of the biggest projects on their list is a glass recycling facility. "It's a huge saving, and that's a saving we could see right away," said Deputy Mayor Cheryl Chapman. According to the village, glass waste makes up about 40% of the weight and cost during transportation. "That's a direct impact to our taxpayers and our residents," said Chapman. To reduce those costs, village officials want to take that glass and recycle it into something new. That's where KLAW Industries comes into play. They specialize in grinding down the glass. "[We] take waste glass from recycling facilities and turn it into a cement replacement in concrete," said COO Jacob Kumpon. The concrete, known a

Watch now: Elevate helping entrepreneur clients, students in Coles County - Journal Gazette and Times-Courier

Image
Watch now: Elevate helping entrepreneur clients, students in Coles County - Journal Gazette and Times-Courier Watch now: Elevate helping entrepreneur clients, students in Coles County - Journal Gazette and Times-Courier Posted: 31 Oct 2020 01:01 AM PDT {{featured_button_text}} Buzzed & Board Media LLC founder Keegan O'Connell uses workspace on Tuesday in the Elevate business development center at the Cross County Mall in Mattoon. Visit jg-tc.com to see a video of Elevate Executive Director Carlos Ortega talking about the project.  Coles County ClassE high school entrepreneur program teacher Vince Walk, standing at center, is pictured on Oct. 22 working with students in the Elevate business development center at the Cross County Mall in Mattoon. Seated, from left to right, are students Hannah Hopper, Ellie Gass, Kaylee Wilson and Jessi Vanatta.

Why home wellness is spawning a plethora of business ideas - Sydney Morning Herald

Image
Why home wellness is spawning a plethora of business ideas - Sydney Morning Herald Why home wellness is spawning a plethora of business ideas - Sydney Morning Herald Posted: 19 Oct 2020 12:00 AM PDT "Wellness has been a growing industry over the past eight to 10 years and now it's becoming way more mainstream," says Alison Morgan, founder of business coaching firm Relauncher. "Because information [about household toxins] is so readily available on social media and online, people are becoming far more educated." Morgan, who works predominately with wellness-focused brands, says that as consumers strive to improve their living spaces and adopt healthier habits, businesses are smart to tap into the emerging market. A new report from tech industry analyst CB Insights has highlighted the importance of doing just that – it named at-home wellness services and products as a key investment opportunity in the wake of COVID