Tuesday, 19 September 2023

How to AI-proof your job

Plus, crypto VCs ride the roller coaster

September 19, 2023

Hi, Agen. Will AI take your job? That notion doesn’t sound as far-fetched as it once did. Consider that just yesterday, another generative AI company — this one used by brands including Uber, Spotify and L’Oréal to write marketing copy and other corporate communications — raised a fresh $100 million from investors. In today’s edition, we look at the large sums going to generative AI companies — as well as the skills knowledge workers need to thrive in this new age of smarter computers.

🎢 Crypto VCs ride a roller coaster market

The latest crypto and blockchain news pretty much encapsulates the industry as of late — one step forward, then a quick shuffle back. Case in point: On Monday, Blockchain Capital — whose portfolio includes Coinbase, Kraken and Circle — announced the closing of two new funds totaling $580 million. At the same time, Chinese fintech giant Ant Group is reportedly planning to pull out of its $100 million growth-stage digital asset fund as the market remains turbulent at best.

Related Crunchbase Pro list: VC-Backed Web3 Funding

🖊 Writer inks $100M for its corporate generative AI platform

Writer, a generative AI company used by major brands to write marketing copy, analyze data and perform other corporate tasks, has raised a fresh $100 million in an Iconiq Growth-led round that values the company at about $500 million.

🧠 2 essential skills you need to stay employable in an AI era

Already, reports estimate that thousands of jobs have been lost to AI this year, and many more are expected to be rendered obsolete as artificial intelligence continues to take hold. But the technology is also a force that can help those who know how to use it work better and more efficiently. SnapLogic CEO and Chairman, and former Informatica CEO Gaurav Dhillon shares two essential skills knowledge workers need to survive in the AI era.

🪓 Tech layoffs: Alphabet, Airtable ax jobs

At least 1,100 U.S. tech workers lost their jobs last week. They included employees at Big Tech companies — Google parent Alphabet again axed part of its workforce — and startups, including collaboration platform Airtable. By our count, another 16 U.S. tech companies also shed workers last week.

🏅 Top 10 deals: AI surges again

The AI craze will not settle down. Four of the top six funding rounds to U.S. startups last week were directly related to AI and the use of the new technology. Biotech, 3D printing and construction tech startups also raised large sums.

Recent Investments

Indigo

$250M / Venture Round

Indigo is an agricultural technology company that focuses on improving sustainability and profitability in farming practices.

Categories:

Agriculture • AgTech • Farming • GreenTech

Founders:

David Berry, Geoffrey von Maltzahn, Ignacio Martinez, Noubar Afeyan

Investors:

Flagship Pioneering (Lead), Lingotto, State of Michigan Retirement System

REVEL

100M EUR / Debt Financing

REVEL is a car company that specializes in digital car subscription services.

Categories:

Automotive • Leasing • Subscription Service • Transportation

Founders:

Daniel Marcos, Enrique de Mateo Arduán

Investors:

Kohlberg Kravis Roberts (Lead)

Dragos

$74M / Series D

Dragos is an industrial cybersecurity company that detects and responds to threats in industrial control systems.

Categories:

Cyber Security • Network Security • Security

Founders:

Jon Lavender, Justin Cavinee, Robert M. Lee

Investors:

WestCap (Lead)

More Fundings

Company Amount / Round Lead Investor
GE Healthcare $44M / Grant Bill & Melinda Gates Foundation
Segari $24M / Series B -
REVEL 15M EUR / Series A -
All Recent Funding Activity

Recent Acquisitions

Future Electronics

Pending acquisition by WT Microelectronics for $3.8B

More Acquisitions

Company Acquired By Amount
Essential Energy Services Element Technical Services $78M
All Recent Acquisition Activity

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