🕶️ Why is Apple signing on to AI safety initiative?

Six bullets of updates

1. ⚡ Revolut secures a UK banking license after a 2-year wait, boosting its $33B valuation and neobank status.

2. 🩺 Intron Health is growing in its one-way mission to back its speech-recognition tool tailored for African accents.

3. 📖 Colin Kaepernick launches AI startup to help creators with storytelling tools, raising $20M in seed funding.

4. 🚥 Cyabra, a startup detecting disinformation, plans to go public via SPAC, targeting a $400M valuation.

5. 🦄 After 12 years, British unicorn Improbable finally hits profitability with £66M revenue, turning to venture building.

6.  📁 Reworkd pivots to web scraping AI agents. Its mission is to automate the extraction of structured data from websites.

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Apple joins White House AI safety pact

Apple has joined the White House’s voluntary commitment to developing safe and secure AI. The tech giant plans to integrate its upcoming generative AI offering, Apple Intelligence, into its core products, reaching over 2 billion users worldwide. This move aligns Apple with other major technology companies like Amazon, Google, and Microsoft, all of which pledged to follow the White House’s AI development ground rules in July 2023.

At the June WWDC, Apple revealed its serious AI intentions by partnering with OpenAI to embed ChatGPT in the iPhone. This early compliance signals Apple's readiness to cooperate with federal regulations and potentially avoid future regulatory challenges. The White House’s requirements for AI companies include stress-testing AI models, maintaining confidentiality of AI model weights, and developing content labeling systems to distinguish AI-generated content.

While these commitments are voluntary, they represent a significant step toward ensuring AI safety and security. Read more!

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Startup Events and Deadlines

1. Crash Course in Financial Modeling | August 7 | Webinar

2. SaaStock: Dublin | August 14 | Conference

3. How to close a Funding Round (it’s not just the pitch deck) | August 14 | Webinar

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Intercom for Startups

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These companies just raised money

1. 🏎️ Applied Intuition secures $300M in a secondary sale four months after its $250M Series E round.

2. 🌌 Astranis raises $200M Series D to build the Omega Constellation, targeting affordable satellite internet for 5B people.

3. 🔋 Addionics secures $39M to commercialize its 3D current collectors, enhancing EV battery performance and efficiency. 

4. 🤑 Venture platform Bunch raised $15.5M Series A to enhance private market access for VC funds.

5. 🪜 Escala, a CRM for Hispanic SMEs, raised $12M to boost its team and enhance AI and WhatsApp features.

6. 🇨🇱 Chilean fintech Relif raises $400K, including $120K from ChileGlobal Angels, to enhance financial health products.

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VCs are still pumping billions into Generative AI startups

Generative AI is the latest obsession for VCs, with billions pouring into startups in the space. Investors are snubbing the tech downturn, betting on AI's transformative potential. In fact, in the first half of 2023, from January to July 16, 225 startups raised $12.3 billion from VCs. Think ChatGPT and MidJourney, but on steroids. This means it's prime time for founders to pivot or dive into AI ventures. 

The gold rush isn't without risks—overvaluation and market saturation loom large. But if you're offering real, scalable AI solutions, the funding doors are wide open. Just remember, not every AI will be the next OpenAI. Anyway, there’s still the question: Could the bubble burst soon? Read more!

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So, WhatsApp with their business model?

Why did Meta think it was a good idea to acquire WhatsApp? In this video, we also talk about how trustworthy it might be that they don't use your private texts for ads. 🕶️ Subscribe for more!