Welcome Holocron, Highlighting Onsights.io, Takeaways From the RSAConference 2023, Fundings: OpenAI, CleanChoice Energy, Humanitas
3 May 2023 - A Weekly Publication by New North Ventures
New North Ventures is excited to partner with Holocron Technologies.
The company raised $1.5 million of seed funding in a deal led by New North Ventures on May 1, 2023. Fulcrum Capital Group and 7other investors also participated in the round.
Holocron is developing an AI-driven science and technology platform that identifies and analyzes disruptive technologies and emerging technology trends. OSINT is an increasingly powerful tool, and global domain awareness will be essential in decision-making and risk mitigation in both commercial enterprises and government agencies. We look forward to working with Holocron as they create this high-impact solution.
We are also thrilled to showcase one of our portfolio companies, Onsights, also known as Anno.ai, and its mission to revolutionize the retail industry through intelligence. Onsights provides brick-and-mortar retail locations with online retail metrics, insights, and visibility through cutting-edge computer vision technology. By leveraging cross-camera observations, they offer data-driven analytics of customer behavior to help retailers make informed decisions.
Onsights is also a machine learning company that specializes in making sense of unstructured data. Additionally, Onsights' technology has dual-use applications, as it can also be used to enhance security measures and crowd control in public spaces. Their innovative approach to data-driven analytics has the potential to revolutionize both the retail and security industries.
The Onsights team has consistently provided their clients with actionable insights that not only improves their bottom line but, with the expertise of NNV, can also contribute to national security efforts. Onsights is fast becoming a leading company that can be applied to various functions such as CCTV, video path analysis, and many situations in the government sector.
At NNV, we have a deep understanding of how the intelligence community fuses video and are excited to partner with Onsights, as their innovative approach to retail intelligence aligns with our mission to support companies that utilize cutting-edge technology to enhance security and efficiency.
To learn more, check out the video below.
Founded: 2015
Key People: Co-founded by Greg Brockman, Ilya Sutskever Ph.D, John Schulman Ph.D, and Wojciech Zaremba Ph.D
Elevator Pitch: An artificial intelligence-based research and deployment platform intended to ensure that general-purpose artificial intelligence benefits all of humanity.
Funding: The company raised an undisclosed amount of venture funding from Microsoft, Tiger Global Management and Sequoia Capital on April 29, 2023. Andreessen Horowitz and 6 other undisclosed investor also participated in the round.
Founded: 2011
Key People: CEO Thomas Matzzie
Elevator Pitch: Renewable electricity intended to make clean energy accessible for everybody.
Funding: The company entered into a definitive agreement to be acquired by True Green Capital through an LBO on April 28, 2023 for an undisclosed amount.
Founded: 2018
Key People: Co-founded by Hung Chi Philip Chow and Aravindh Ravisankar
Elevator Pitch: An artificial intelligence-powered gamified mobile tool designed to nurture community-oriented online and offline behaviors
Funding: The company raised $215,000 of venture funding from WE& Capital and other undisclosed investors on April 28, 2023.
RSAConference 2023 Takeaways and Insights
The RSA Conference is an annual event that focuses on the latest developments and trends in cybersecurity. This year's conference covered a range of topics, including investment strategies, venture capital, and the role of AI in the industry. It has been a topic for many conversations here at NNV, so we wanted to share with you our top three highlights from the event, along with an overview of the current cybersecurity landscape.
Top Three Highlights:
Rapid Growth and Investment: The cybersecurity sector is experiencing rapid growth due to increased cyber threats and the need for better security solutions, attracting significant investments and fostering numerous innovative startups.
AI-driven Solutions: AI is poised to play a critical role in addressing cyber and physical threats, supply chain risks, and identity and access management, shaping the future of the industry by providing more effective and efficient security solutions.
Collaboration and International Cooperation: The private sector, industry, and governments must collaborate to address supply chain vulnerabilities, develop resilient systems, and establish trust among nations in the face of global cybersecurity challenges.
Session Highlights:
1: The Stage of Venture Capital in Cybersecurity
Rapid growth in cybersecurity sector driven by increased cyber threats and need for better security solutions
Success factors for cybersecurity startups: strong founding team, technology, and product-market fit
Geopolitics and regulatory frameworks shaping the cybersecurity landscape
Challenges faced by startups: shortage of skilled talent and need for continuous innovation
Role of government in supporting cybersecurity ecosystem through funding, partnerships, and policy initiatives
Over $100 million in revenue generated in the OT space; expectation of first billion-dollar revenue company emerging in a few years
Convergence of cyber and physical threats, with potential for AI-driven solutions
Importance of addressing supply chain risks in cybersecurity and the potential for AI to help solve challenges
Immense growth potential in the sector and importance of innovation, talent, and geopolitical understanding for success in the market
2: Investing in Cyber: How to Raise Money for a Cyber Startup
Cybersecurity market remains a strong investment area, despite a recent decrease in funding
Investors focus on startups with a unique approach to solving problems, combining technical innovation and strong industry knowledge
Examples of successful investments include companies transitioning from a service-based to a product-oriented business
3: Hardware Security Following CHIPS Act Enactment - A New Era for Supply Chain
Comprehensive approach needed to address supply chain vulnerabilities
Crucial role of industry and private sector in supply chain security
Need for international cooperation and trust among nations
4: Mapping the Ransomware Payment Ecosystem & Opportunities for Friction (legal perspective)
The discussion revolves around the ransomware landscape and the legal implications and rules surrounding ransom payments.
Ransomware attacks have become a significant issue, with victims often finding themselves in difficult positions, considering whether or not to pay the ransom.
5: Conference Keynote
AI in Identity and Access Management
Integration of AI in identity and access management for better security
Importance of least privilege principle and intelligent resource group management
Future of identity management shaped by open, integrated data layers, security-first approach, and AI-driven systems
Platforms, AI, and Cybersecurity - Shaping the Future of the Industry
AI is poised to play a significant role in cybersecurity.
As companies and vendors alike seek to harness AI, it is vital to consider three key factors: the model, the data, and the experience.
Look for a new episode of Securing the Future Podcasts wherever you listen. In our latest episode, we have guest Dr. Jennifer Rudolph sit down with General Partner Jeremy Hitchcock for an engaging conversation where Dr. Rudolph discusses her passion for Asian history and politics, her research on Taiwan's political identity, and shares critical insights into the complex US-China relationship from her latest book, The China Question.