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Ex-Darktrace boss Poppy Gustafsson named UK investment minister
Poppy Gustafsson, the co-founder and former CEO of UK cybersecurity darling Darktrace, has been named Britain’s new minister of investment as the new Labour government looks to win favour with big business. Gustafsson will head up the revamped Office for Investment as part of a wider “Whitehall shake-up” designed to bring more money to British shores, the government said. The appointment no doubt comes as a relief for Prime Minister Keir Starmer, who struggled for months to fill the role. It also comes just days before the government’s international business summit on Monday, where Starmer will look to pitch the…This story continues at The Next Web
Published: 2024-10-11 14:59:23
EU backs Dutch scaleup Lumicks to fast-track discovery of cancer treatments
Amsterdam-based scaleup Lumicks has secured €20mn from the European Investment Bank (EIB) to accelerate the discovery of immunotherapy drugs for cancer. The venture debt funding will help Lumicks further develop and market its cell avidity analyser, a machine with the potential to transform the way researchers study and develop treatments for Europe’s second most deadly disease. Lumicks’ tech allows scientists to gather real-time data on the bonds between immune cells and cancer cells. Unlike traditional methods, which rely on indirect biomarkers, the analyser precisely measures the actual strength and duration of those interactions directly and in real time. This is…This story continues at The Next Web
Published: 2024-10-11 11:36:05
TNW Conference 2025 theme spotlight: AI and Deeptech
Debates about AI are everywhere these days. Families are chatting about its impacts on their lives. Politicians are deliberating over the laws that oversee it. Workers are talking about the risks of job automation. Entrepreneurs are chewing over the business opportunities. And the tech world is discussing what everyone else will be discussing next. Unfortunately, these conversations have also attracted countless scoundrels. They join the chat with wild promises and heavy doses of AI snake oil. But behind their breathless hype, remarkable innovations are emerging. Don’t believe me? Well, just take a look at this week’s Nobel Prize winners. On…This story continues at The Next Web
Published: 2024-10-10 17:12:41
Norwegian startup Muybridge emerges from stealth to ‘reinvent’ the camera
Deep tech startup Mybridge has emerged from the shadows with an €8mn investment to fuel its objective — to revolutionise the way we take photos. Founded by Håkon Espeland and Anders Tomren in 2020, Muybridge has spent the last four years developing real-time computer vision technology that uses software to replace most of the moving parts found in traditional cameras. “Muybridge is one of those rare companies that has managed to combine enabling technologies in a way that opens a new paradigm,” said Filip Petersson, partner at Scandinavian VC Fairpoint Capital, the lead investor in the funding round. Muybridge’s co-founder…This story continues at The Next Web
Published: 2024-10-10 14:55:05
Rio Tinto backs six startups in high-tech bid for cleaner mining of lithium, copper
British VC fund Founders Factory has launched the Mining Tech Accelerator in partnership with Rio Tinto, as the metals giant seeks to find better ways to cash-in on surging demand for lithium, copper, and other materials critical to the clean transition. In April, Rio Tinto committed 14.4mn Australian dollars (€8.8mn) to the accelerator, which will support pre-seed and seed-stage startups over the next three years. The partners unveiled the first cohort of six startups today. The fledgling companies will now enter a four-month programme that will conclude in Perth, Australia in December. “We understand the vast opportunity ahead in decarbonising…This story continues at The Next Web
Published: 2024-10-10 11:44:44
Why Dubai-based VCs are looking to invest in European climate tech
Rising temperatures and unpredictable weather patterns have become a pressing concern within the UAE. In April, Dubai experienced its heaviest rainfall in 75 years over a 24-hour period, triggering floods and chaos. A team of researchers from the World Weather Attribution initiative reported that this event was driven partly by the climate crisis which was bringing on a 10%-40% intensity in rainfall levels. On July 20, temperatures also hit a high of 42 degrees centigrade at Dubai International Airport, according to data from the US National Weather Service. However, intense humidity that day compounded the heat to make it feel…This story continues at The Next Web
Published: 2024-10-10 07:44:02
AI is changing science: Google DeepMind duo win Nobel Prize in Chemistry
Google DeepMind scientists Demis Hassabis and John Jumper today won this year’s Nobel Prize in Chemistry. The duo will share the prestigious prize — seen as the pinnacle of scientific achievement — with University of Washington professor David Bakker for his work on computational protein design. “This prize represents the promise of computational biology,” Jumper said during a press conference on Wednesday. Hassabis co-founded DeepMind in 2014. Jumper was appointed director last year. The duo won their Nobel Prize for developed an AI model that solved a 50-year-old challenge in biology: predicting the structure of proteins. Dubbed AlphaFold2, the tool…This story continues at The Next WebOr just read more coverage about: Google
Published: 2024-10-09 17:00:47
Holiday homes platform launches ‘global first’ visual search engine
Danish startup Landfolk has launched a visual search engine for holiday homes. Named Daisy, the feature invites users to search for their dream destinations. They can enter endless prompts, from “a luxurious room overlooking the ocean” to “a cosy cabin in the mountains.” After ingesting a query, the feature spits back images linked to properties on the platform. Users can then click-through for further details on the home. Landfolk believes the tool is the first visual search engine in the travel industry. The startup expects it to inspire not only holiday choices, but also home design ideas. Chris Sørensen, Landfolk’s…This story continues at The Next Web
Published: 2024-10-09 16:25:38
Carbon removal startup Paebbl bags $25M to turn CO2 into building materials
Dutch-Nordic carbon capture startup Paebbl has raised $25mn as it looks to turn the sector that uses the bulk of the world’s mined materials — the built environment — into a permanent sink for the world’s most potent greenhouse gas — CO2. Berlin-based VC Capnamic led the round, with participation from the likes of Amazon and German cement industry giants Holcim and Goldbeck. Paebbl will use the fresh funds to expand its offices in Helsinki, Stockholm, and Rotterdam, where its pilot plant is located. In June, we visited the facility, discreetly hidden amid the sprawling docks, warehouses, and factories of…This story continues at The Next Web
Published: 2024-10-09 13:45:30
AI drove Belgian startup funding near €500M in H1 2024, report finds
Private capital investment in Belgian startups has exceeded €470mn in the first half of 2024, compared to a total of €424mn in 2023. At the current rate of spending, the country’s tech ecosystem is heading for a record funding year. That’s according to the State of Belgian Tech Report, published today. It combines data from Dealroom, a survey of over 130 startup founders, and interviews with Belgian entrepreneurs and investors. According to the findings, the average amount of investment per round per stage has steadily increased between 2018 and 2024 to date. It has tripled at the seed and Series…This story continues at The Next Web
Published: 2024-10-09 13:05:14
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