🕶️ NATO is injecting €1 billion into AI

🕶️ NATO is injecting €1 billion into AI

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Arturo Pardo, Lucila Sarquis & Paula Echeverria
June 18, 2024

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Yesterday marked Juneteenth, a perfect opportunity to spotlight the groundbreaking work of Black innovators in making AI more accountable and free from biases 🤖 ⚙️

Also, other exciting developments are happening in the market! Tempus shares skyrocketed by 15% on their first day of trading 🚀 Meanwhile, NATO is making a bold move by injecting 1 billion euros 💶 into European startups harnessing AI; and EV startup Fisker has filed for Chapter 11 bankruptcy. And did you know that the personality test you're using to hire employees is more than just a test?

Keep reading for the latest updates and insights! 👇🏾

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Six bullets of updates

  1. 🤳 TikTok introduces AI avatars for creators and stock actors in branded content and ads, adding a futuristic twist.

  2. 📞 YC-backed Hona aims to reduce communication friction between law firms and clients, addressing a $100B market.

  3. 🔚 EV startup Fisker files for Chapter 11 bankruptcy, capping months of issues with its Ocean SUV.

  4. 🔐 Signal president warns EU lawmakers: a proposed bill to scan private messages is a risk to the future of online security.

  5. 💰 NATO's €1bn Innovation Fund backs four European startups in AI, spacetech, and novel materials.

  6. 🧠 Personality tests can aid workplace dynamics, but remember, they're a $2B industry—not a perfect science.

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Tempus rockets on debut: Investors flock to AI-driven health tech

Tempus shares soared by 15% on their first day of trading, signaling a robust investor appetite for AI-driven health technology. The company's bold promise to revolutionize healthcare with cutting-edge AI solutions has struck a chord with the market.

This stellar performance highlights the growing confidence in AI's potential within the health tech sector. For founders, Tempus's success is a compelling example of how leveraging AI can attract investment and spark innovation.

Tempus, specializing in genomic testing and data analysis, debuted on Nasdaq last Friday. Early backers of Tempus include NEA, Revolution, and T. Rowe Price. Go ahead and read more!

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Startup Events and Deadlines

  1. How to close a Funding Round (it’s not just the pitch deck) | July 2 | Webinar

  2. Crash Course in Financial Modeling | July 10 | Webinar

  3. Financial Modeling Bootcamp | July 22 | Bootcamp  

  4. SaaStock: Dublin | August 14 | Conference

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Better business banking, from idea to IPO

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These companies just raised money

  1. 👩‍💻 Rippling's tender offer, a surprise move, gets mixed reactions; company valued at $11.25B with $500M raised.

  2. 👨‍👦 Ex-Palantir CFO and IVP founder’s son secure $118M for their third fund, targeting friends & family investors.

  3. 🛰️ Apex raises $95M to boost production of small satellite buses, eyeing cost-efficient space solutions.

  4. 🇩🇰 Danish startup Light exits stealth with $13M seed funding to revolutionize general ledgers using AI.

  5. 💱 Linq raises $6.6M to use AI for simplifying research for financial analysts, making their jobs easier.

  6. 🛋️ Vinterior secures $3,2M media-for-equity deal with Channel 4 to boost its UK presence; aims for cash flow positivity by Q4 2023.

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Black innovators transforming the Tech AI scene

Tamar Huggins founded Tech Spark A.

Black entrepreneurs are pioneering customized ChatGPT alternatives to tackle cultural biases inherent in current AI models. John Pasmore's Latimer.AI and Erin Reddick's ChatBlackGPT aim to deliver responses that better resonate with Black and brown communities, countering the Eurocentric bias prevalent in mainstream AI like ChatGPT.

Global initiatives such as Spark Plug and CDIAL.AI are also gaining traction, aiming to provide inclusive AI experiences tailored for African and Black students. These innovators are filling critical gaps left by traditional AI, prioritizing cultural accuracy and representation in an increasingly AI-driven world. Read more here.

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Slidebean Revenue Data

Built on top of our financial model template, we hope this is a helpful resource to compare against your progress and study how a company manages cash at the early stages.

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Check it now: a webinar for founders eager to strengthen their financial knowledge

In one of our latest webinars, Caya, CEO and Co-Founder of Slidebean, shared valuable information for you to shift your financial modeling skills. Watch (or rewatch) the session and review the fundamentals of driver-based financial modeling, understanding why it's a game-changer for startups. Subscribe to our YouTube channel for more insights!