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Quick news №24

Monday, September 20, 2021

News review over the past week: AI concerns, crypts developments, new rounds.

Startup Jedi

We talk to startups and investors, you get the value.

The weather is rapidly deteriorating, but the business year is only accelerating. There are more events, the size of the rounds, too. And we closely follow all this and tell you. Go!

We are used to enthusiastically accepting all developments in the field of AI, but the UN has expressed concern about their development. High Commissioner for Human Rights Michelle Bachelet has called for more careful regulation of such developments. According to her, we are missing out on when AI starts to violate human rights and influence the lives and decisions of people. By the way, in theory, does AI obey Asimov's robotics rules?

News from crypts, it’s another major technology segment. NFT-marketplace OpenSea, the largest on the network today, whose value has reached $1.5B, has released an application for viewing works of art offered for purchase. This is where its functionality ends. But there is no end to the possibilities of speculation, even in the NFT field: the top manager of the same OpenSea used inside information to resell top art objects. The money was withdrawn to a regular wallet —  the management of the marketplace had already recognized the incident.

If you suddenly want to build your own NFT after this news, with tokens and transparent chains, then you can start with the Definition blockchain hackathon, whose final will be held in Moscow the other day. Or you can abandon this idea if it is important for you to leave a green mark in history: Bitcoin mining annually produces more than 30 thousand tons of e-waste. This is a fresh study by MIT, but back in the spring the carbon footprint of mining was counted —  the results impressed many.

IPO segment of our news-jogging! Today we have two heroes. First, BioTech-startup Pyxis Oncology decided to raise up to $100M in the course of going public for further development of cancer drugs. In parallel with this, the Ukrainian company GitLab also applied for an IPO. Its estimate reached $6B last year, and this year's revenue could be close to $200M.

Last week Canva has already received the same $200M, but investments. The online photo editor was valued at $40B, and they say the company is also working on a video editor. In any case, Canva is an exemplary VC “excellent student”: a round every 1.5 years, and each time the amount is not more than necessary to grow the business and maintain a healthy domestic economy.

Another online service, but from a completely different area —  the exchange for online trading of non-ferrous metals Open Mineral — raised $33M.The startup was founded by a native of Uzbekistan Boris Eikher and a Russian Ilya Chernilovsky in 2017, and during this round its valuation reached $100-150M according to unofficial sources.

Have a productive week!

20 Sep 2021


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