Plus: Big valuation for restaurant tech and Uber aims to solve concert traffic
TechCrunch Daily AM Newsletter

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By Christine Hall

Wednesday, May 15, 2024

 

Good afternoon, and welcome to TechCrunch PM, the most important startup, tech and venture capital news in a single package. I’ve got a lot of great stuff for you, including an update on what went down at Google I/O, so many venture funding stories and a new head of product at Anthropic. Enjoy!

 

TechCrunch Top 3

Image Credits: Orange Charger

This is what happens when you lose a bet: Nicholas Johnson built the Orange Charger so apartment dwellers can charge their electric vehicles. This came after losing a bet that he couldn’t go six months without charging his EV with nothing more than a Level 1 outlet. Read more

Restaurant tech is still hot: Restaurant365 retains its unicorn status and then some after raising $175 million. The company provides software so restaurants can manage their businesses. Read more

Layer takes on QuickBooks: It’s a lofty goal, but Layer is going after those big, legacy accounting and bookkeeping platforms by enabling those who work with thousands of the small businesses to build their own accounting tools to keep them on one platform. Read more

 

Afternoon must-reads

Image Credits: Rebecca Bellan

Uber Shuttle is coming to America:The ride-hail and delivery giant plans to launch a shuttle service in certain U.S. cities this summer. The goal? To eventually cater to events like concerts and sports games, as well as airport pickups and drop-offs. Read more

Google I/O 2024: Catch up with everything announced at the conference. We also go into all of the top AI announcements from these past two days and why Google could run into some issues with its call-scanning technology. Read more

Fay gets a shot in the arm from Ozempic users: The dietitian startup has been booming from Ozempic patients and emerges from stealth with $25 million from top investors, like General Catalyst and Forerunner. Read more

Heat pump gets a makeover: Quilt’s heat pumps sport the sort of sleek and intuitive designs you’d expect from veterans from Apple, Nest, Google, and Tesla. Each unit is intended to heat and cool a single room, and there’s an app and a thermostat-like Dial from which customers can set temperatures throughout their home. Plus, you can customize the outside of the unit to your warm heart’s content. Read more

Anthropic’s new head of product: Meet Mike Krieger, who is joining Anthropic as the company’s first chief product officer. His name may seem familiar because he is one of the co-founders of Instagram and, more recently, the co-founder of personalized news app Artifact, a startup TechCrunch corporate parent Yahoo recently acquired. Read more

Apple’s new accessibility features: Now iPad and iPhone users get some new features designed to cater to a diverse range of user needs. These include the ability to control your device with eye-tracking technology, create custom shortcuts using your voice, experience music with a haptic engine and more. Read more

Venture capitalists advocate for standardized data collection: A group of VCs formed the Diversity Data Alliance in hopes of simplifying the process of collecting data by creating a framework that firms can use to gather information about founders and funders. It hopes to also work toward creating a centralized data pool to better track and understand funding trends in the industry. This is especially important for marginalized founders, who still receive little to no venture funding. Read more

Alkira grabs $100 million: Tiger Global jumps in to lead a $100 million investment into Alkira and its “network infrastructure as a service,” which lets users virtualize and orchestrate hybrid cloud assets to manage them as a whole. Read more

Weka secures Series E: Data is always a big theme, and that is no different with Weka, which raised $140 million in new capital to build data pipelines to manage a range of data sources, types, and sizes. Read more

Newchip’s bankruptcy is a cautionary tale for founders: Newchip’s bankruptcy has threatened the cap tables of thousands of startups. TechCrunch’s Equity podcast has the details on how founders are trying to buy their companies back, and what this means for the broader accelerator landscape. Listen here

 

Money, money, money

Meet PayHOA, a profitable and once-bootstrapped SaaS startup that just landed a $27.5 million Series A. Read more

Portuguese VC firm Shilling launches €50 million opportunity fund to back growth-stage startups. Read more

LanceDB, which counts Midjourney as a customer, is building databases for multimodal AI. Read more

Berlin-based trawa raises €10 million to use AI to make buying renewable energy easier for SMEs. Read more

 

Around the web

Image Credits: Getty Images/Patra Kongsirimongkolchai / EyeEm

TikTok has a well-heeled suitor: The Hill follows billionaire Frank McCourt’s bid to buy TikTok. He’s best known for being the former owner of the Los Angeles Dodgers and executive chair of investment firm McCourt Global. Read more

As quickly as it went up, GameStop stock fell: GameStop shares declined 30% in early trading Wednesday as the meme stock faces its 15 minutes of fame, Yahoo! Finance reports. Read more

Meanwhile, is “Roaring Kitty” the internet’s Warren Buffett? The Wall Street Journal experts ponder. Read more

Intel makes a Thunderbolt: The Verge covers Intel’s new Thunderbolt Share, which the company will license to computer and computer accessory manufacturers. Two computers with the technology can then be connected via Thunderbolt cable and share a mouse, keyboard, screens, storage, etc. Read more

 

TechCrunch Minute

Google I/O becomes Google AI: It’s true. We wrote about Google mentioning the term “AI” over 120 times on Tuesday during the initial presentation. But the company isn’t just rolling out new products with AI — it’s also integrating them into its core services. For example, Gmail and search. Hit play and let’s chat!

 
 
 
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