Celebrating Innovation Across Industries, Emerging Global Threats, Fundings: 1s1 Energy, Cyrisma, Antares
16 October 2024 - A Weekly Publication by New North Ventures
Hubble Network: HN recently won two major awards at INNOspace Masters 2024! Hubble was named this year’s “INNOspace Master” and took home the Mercedes-Benz car2space Challenge award.
In a highly competitive field, Hubble’s breakthrough—becoming the first company to establish a Bluetooth connection directly to a satellite—stood out for its game-changing potential in industries like mobility, agriculture, and logistics.
Additionally, CEO Alex Haro was recently featured on the Seraphim podcast to discuss their journey. Check it out here.
Reality Defender: Recently, during a live demo, Product Manager Christopher Ren used viral code to generate a deepfake of Elon Musk—demonstrating the power of their AI detection tool. As Ren impersonated Musk, Reality Defender's model flagged the deepfake in real time, highlighting how their technology combats emerging threats.
As deepfake scams rise, impacting governments, businesses, and individuals alike, Reality Defender's cutting-edge solutions are critical. Focused on protecting clients from AI-powered fraud, their real-time detection tool will soon integrate with platforms like Zoom, ensuring safer video calls. Read more here.
Beacon AI: Beacon is bringing the future of aviation to the present by developing an AI assistant for pilots, similar to R2-D2 from Star Wars. Founded by former US Navy pilot Matt Cox, the startup has secured 10 DoD contracts and partnerships with airlines like Emirates. With $20 million in total funding, Beacon AI aims to reduce human error and improve safety by integrating AI into the flight deck.
Their goal? To enhance pilot decision-making through advanced AI systems, bridging the gap between human skill and machine precision. Read more here.
Efabless: Efabless, a leader in custom semiconductor development, has teamed up with SensiML to tackle the complexities of AI for IoT devices. This partnership aims to reduce the cost and difficulty of building application-specific AI at the edge, using open-source, customizable solutions.
Efabless’s chipIgnite program allows developers to create custom silicon in months, while SensiML’s AutoML software helps build efficient AI models. Together, they provide an end-to-end solution for intelligent IoT devices, offering up to 10x energy efficiency compared to off-the-shelf hardware.
New GASA Report Estimates $688 Billion in Scam Losses Across Asia Amid Rising Cyberthreat Worldwide
The 2024 Asia Scam Report from the Global Anti-Scam Alliance (GASA) reveals an estimated $688 billion in scam losses across Asia in the past year. AI-driven scams and social media fraud are rising, while Singapore and Japan have seen notable reductions in losses, thanks to preventive measures.
Key scam categories include identity theft, investment fraud, and shopping scams, with revictimization being a significant issue. GASA, alongside Mastercard and ScamAdviser, will address these concerns at the upcoming GASS Asia Summit, focusing on scam prevention and cross-sector collaboration.
Scale of Chinese Spying Overwhelms Western Governments
Beijing is conducting espionage on an unprecedented scale, utilizing government agencies, private firms, and Chinese civilians. Western governments are raising alarms about China’s hacking and intelligence activities, which now surpass Cold War-era espionage. Recent attacks include hacks targeting U.S. law enforcement systems and surveillance on U.S. seaports.
China’s intelligence apparatus, which reportedly involves up to 600,000 people, poses an increasing threat, especially as the country’s slowing economic growth puts pressure on its leadership to steal foreign innovations.
Western responses are complicated due to China's integration into the global economy. Unlike sanctions on nations like Russia, punishing China risks destabilizing crucial trade relationships. Intelligence agencies struggle to counter China’s decentralized operations, which involve state and private actors.
Espionage tactics include covert activities through researchers, academics, and companies. As China grows more assertive, military concerns, particularly regarding Taiwan, raise fears of preemptive attacks on U.S. infrastructure, sparking calls for heightened vigilance across the West.
Founded: 2019
Key People: CEO Daniel Sobek Ph.D
Elevator Pitch: Water electrolysis systems designed to produce hydrogen using renewable energy.
Funding: The company raised EUR 1.3 million of seed funding in a deal led by Asiri and Faber Ventures on October 15, 2024.
Founded: 2018
Key People: CEO Oliver Downward
Elevator Pitch: Cybersecurity software designed to manage cyber risk without impacting time, money, and people.
Funding: The company raised $7 million of Series A-1 venture funding in a deal led by Blueprint Equity on October 9, 2024, putting the company's pre-money valuation at $13 million.
Key People: CEO Jordan Bramble
Founded: 2023
Elevator Pitch: Deployable microreactor space-based power needs intended to make clean energy abundant from Earth to the asteroid belt.
Funding: The company raised $27.53 million of venture funding from undisclosed investors on October 9, 2024.
Look for a new episode of the Securing the Future Podcast wherever you listen. In our most recent episode, general partner Jeremy Hitchcock sits down with Hector Xu, founder and CEO of Rotor AI, to discuss the groundbreaking technology behind converting traditional helicopters into autonomous drones for both civilian and defense applications.
