Each day, DailyAlts tracks major developments across the alternative investment world. Our content is procured from primary contacts in the industry and secondary sources across the web. Our goal is to give readers the most up-to-date news and engaging experience to open new doors and areas of knowledge. Our stories cover nine separate verticals of the alternative investment industry.
Oxford, UK-based Exscientia uses AI to design and create drug candidate molecules satisfying complex therapeutic requirements with revolutionary efficiency. Joint research by Exscientia with Sumitomo Dainippon Pharma Co., Ltd. (TYO: 4506) resulted in the creation of the molecule DSP-0038, a dual-targeted 5-HT1A agonist and 5-HT2A antagonist to be assessed for treatment of Alzheimer’s disease psychosis. Sumitomo will now initiate a Phase 1 clinical study of DSP-0038 in the United States.
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Vinted, a European startup that runs a marketplace for used clothing and home goods, announced its raise of $303 million at a valuation of $4.5 billion, post-money. That valuation is substantially up from $1 billion when Vinted raised money end-2019.
On Wednesday, Germany’s Federal Financial Supervisory Authority (BaFin) ordered challenger bank N26 to implement appropriate internal controls and safeguards and comply with general due diligence requirements to prevent money laundering and terrorist financing. It also appointed audit firm Mazars as a special supervisor to monitor N26.
Elon Musk has suddenly got religion on bitcoin. He announced in a tweet on Wednesday that Tesla (NASDAQ: TSLA) will no longer sell its cars for bitcoin due to the leading cryptocurrency’s carbon footprint and consequently adverse effect on the environment.
Artificial Intelligence: Volkswagen’s Electric Version Of Its Iconic Microbus In Self-Driving Trials This Summer
VW will use hardware and software developed by Argo AI. Volkswagen (ETR: VOW3), which is targeting the launch of autonomous commercial delivery and micro-transit service in Germany by 2025, announced plans to trial new self-driving vehicles this summer in Germany. (The Verge) On Wednesday, the German automaker, which is collaborating with Argo AI for the…
Secretive data analytics company Palantir (NYSE: PLTR) revealed on its first-quarter earnings call that it had already begun accepting bitcoin as payment from its customers and that it was also considering holding bitcoin, as well as other cryptos, on its balance sheet.
In a bid to help out sellers and small businesses that have launched on its platform, eBay UK will offer them financing through a tie-up with YouLend. As part of the CEBS, YouLend will offer eBay business sellers funding in the range of £500 to £1m.
CloudWalk, the Brazilian payments processor, announced Tuesday its Series B funding of $190 million. The round brought up the firm’s aggregate capital raised to $206 million. Coatue led the round, with participation from DST Global and existing investors such as FIS, The Hive Brazil, and Valor Capital.
IBM Announces Breakthrough Hybrid Cloud and AI Capabilities to Accelerate Digital Transformation at its 2021 Think Conference. These innovations around its hybrid cloud and AI platform are aimed at helping businesses manage their digital transformation, particularly after the pandemic.
Mark Yusko’s Morgan Creek Capital Management has assets under management of about $2 billion. Assuming his usually bullish stance on bitcoin in an interview on Friday, Yusko said the leading crypto could scale a price of $100,000 in 2021 or 2022. He went further and said it could go up to $250,000 in five years.
Pandemic or not, famed sovereign wealth fund Mubadala Investment Company kept a stream of investments flowing into technology, life sciences, consumer goods, and other growth sectors during 2020. In fact, as a strategy, the fund stepped up its investment to $29 billion from $18.5 billion in 2019.
A Bloomberg report said Monday that UBS Group AG (SWX: UBSG) was mulling avenues for investing in digital assets for its wealthy clients. It would follow banks across the pond such as Citigroup (NYSE: C) and Goldman Sachs (NYSE: GS).
The $1.4 billion Fairfax County Police Officers Retirement System did well last year on its investments in Morgan Creek Digital Fund III. The move paid off, allowing the pension fund to report good gains last year. Unsurprisingly, in April, the fund approved additional investments in the crypto and blockchain space.
IBM’s Global AI Adoption Index 2021 found that nearly a third of the IT professionals surveyed confirmed their businesses had commenced the use of AI. Further, 43% said the COVID-19 pandemic had catalyzed a faster rollout of AI at their companies. On the flip side, challenges to the adoption of the technology included scarcity of skills and complexity of data.
Telkomsel, Indonesia’s largest telecom operator, has written yet another check, this time for $300 million, in favor of ride-hailing firm and super app Gojek. Gojek is one app for ordering food, commuting, digital payments, shopping, hyper-local delivery, getting a massage, and two dozen services. It is Indonesia’s first and fastest-growing unicorn building an on-demand business across Southeast Asia.
On Friday, Colonial Pipeline, the largest refined products pipeline in the United States, transporting more than 100 million gallons of fuel daily for consumers from Houston, Texas to the New York Harbor across 8,500 km, was shut down by a ransomware attack.
A Bloomberg report says Zhang Yiming, the AI genius who built ByteDance into a global behemoth via apps such as TikTok, is already flexing his muscles for the next battle. Not content with queering the pitch for media rivals such as Facebook (NASDAQ: FB), Zhang this time has e-commerce, and Alibaba (NYSE: BABA), in his sights.
The craft pictured above looks remarkably fragile but a team of researchers from the marine research non-profit organization ProMare in technology collaboration with IBM will attempt to sail the Mayflower 400 across the Atlantic on May 15, 2021.
An FT Exclusive says Citigroup is weighing an entry into the cryptocurrency markets. Itay Tuchman, Citi’s (NYSE: C) global head of foreign exchange has told the FT that the bank is considering a foray into the cryptocurrency markets after seeing rising interest among its clients. “There are different options from our perspective and we are…
Einride, the Swedish developer and provider of electric and autonomous freight mobility technology, announced Thursday it had raised $110 million Series B funding from existing investors EQT Ventures, Plum Alley Investments, Norrsken VC, Ericsson, and NordicNinja VC; new investors Temasek, Soros Fund Management LLC, Northzone, Maersk Growth and Build Capital also participated in the round.
An internal memo at Goldman Sachs (NYSE: GS) issued Thursday announced that its all-new crypto trading team had successfully traded certain bitcoin derivatives. According to CNBC, which saw the memo issued by Goldman partner Rajesh Venkataramani, the team is a part of the bank’s global currencies and emerging markets trading division and reports to him, though it is also a constituent of the digital assets unit led by Mathew McDermott.
Canadian alternative asset manager Ninepoint Partners LP announced Thursday the launch of the Ninepoint Alternative Credit Opportunities Fund, a new liquid alternative mutual fund that will invest in Canadian, U.S., and international fixed income securities for short-term and long-term gains.
Heating, ventilation, and air conditioning (HVAC) systems account for 45% of all energy consumed in commercial buildings. Tragically, as much as 30% of this is usually wasted. BrainBox AI, which is based in Montreal, Canada, uses artificial intelligence to learn a building’s energy “equations” and then to control them for maximizing energy savings without compromising on residents’ comfort.