Quantcast

AlleyWatch

The Pulse of New York Tech

Startups

Algofi Raises $2.8M for its Decentralized Lending Platform Built on the Blockchain

by

After much anticipation, we are beginning to see real-world use cases for the blockchain as it transitions from abstract, theoretical concepts into practical applications that have the potential to change the standard order. The promise of decentralizing finance by uncoupling transactions and activity from legacy banks to the public via blockchain is driving innovation towards a more efficient system that’s inclusive and not riddled with predatory fees. Algofi is building a fast, low-cost decentralized lending market on the blockchain using the Algorand blockchain. The company, founded by two colleagues at Citadel, believes their platform will be able to offer transaction fees for less than $.01 as compared to $15 for other providers. Crypto depositors can earn high-yield rates on their funds while borrowers can easily access funds with competitive rates for their trading needs. Algofi plans to launch its lending and stablecoin protocol on the Mainnet later this month and introduce new banking features next year as it moves towards becoming a full crypto-native digital bank that’s completely decentralized. AlleyWatch caught up with Algofi Cofounder John Clarke to learn more about the decentralized finance and companies like Algofi are driving a catapultic shift that will redefine finance as we know it, the company’s strategic plans, the emergence of Brooklyn as an enclave for Blockchain innovation, the company’s recent round of funding from investors that that inclue Union Square Ventures, Arrington Capital, Pillar VC, Y Combinator, Formulate Ventures, and Shine VC.

Verbit Raises Another $250M for its Voice Transcription and Captioning Platform

by

Transcription is one of the many areas where technology has impacted the future of work.  First, global outsourcing sent transcription work to countries with language proficiency and low-cost wages.  Now, deep-learning technologies such as AI and natural language processing are bringing automation to the industry. Verbit is an AI-powered transcription and captioning platform that leverages natural language processing and machine learning to deliver transcription that’s faster, more accurate, and less costly than previously possible.  The platform isn’t completely dependent on technology, leveraging a hybrid model with 30,000+ professional transcribers to review the accuracy of the transcriptions and captions. Verbit filters out background noises and detects vertical-specific terminology, which is useful for compliance with industry-specific regulations.  The depth of the technical stack also allows for captioning live audio and video in real-time.

AlleyWatch caught up with CEO and Founder Tom Livne to learn more about how his experience as an attorney working with transcription led him to found Verbit, the company’s path towards IPO, latest round of funding from investors that include Third Point Ventures, Sapphire Ventures, More Capital, Disruptive AI, Vertex Growth, 40North, Samsung Next, and TCP, and much, much more…

The AlleyWatch Startup Daily Funding Report: 12/2/2021

by

3 new deals and a whopping $620M in new capital! The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 12/2/2021 featuring funding details for Life House, Fireblocks, and much more.

The 10 Largest NYC Tech Startup Funding Rounds of November 2021

by

Everything you need to need to know about the largest NYC startup funding rounds of November 2021; broken down by industry, stage, investors, and more…

The AlleyWatch Startup Daily Funding Report: 12/1/2021

by

5 new early-stage deals representing $45M in capital for NYC startups to start off the month. The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 12/1/2021 featuring funding details for Pepper, Algofi, and much more.

Helaina Raises $20M to Launch a Breast Milk Alternative with Near Human Milk Proteins

by

Breast milk is said to have the perfect mix of vitamins, protein, and fat for a baby’s development. Natural breast milk also boosts a baby’s immune system by providing much-needed antibodies to ward off infection and prevent harmful bacterial growth. It’s also easier to digest as compared to formula. However, formula feeding is significantly more convenient and flexible for mothers. Helaina is on a mission to combine the benefits of convenience of the two. The company, founded by a food scientist, has developed a process to recreate the functional components of human milk using precision microbial fermentation. Helaina is scaling manufacturing and distribution of its first-of-kind infant formula that provides the immune benefits of natural breast milk in a convenient form with plans to expand to other consumer products. The proprietary formula provides proteins that are 99% identical to breast milk. AlleyWatch caught up with Helaina Founder Laura Katz to learn more about the state of the formula market, the benefits of human proteins in infant nutrition, the company’s strategic plans, latest round of funding from investors that include, Siam Capital, Spark Capital, Primary Venture Partners, Cosmic VC, Plum Alley, Tom Williams, Hannah Bronfman, Gabrielle Union, and Barrel Ventures, and much, much more…

Mycelial Raises $3.8M for its Edge Native Platform to Make Computing Seamless in a World of Distributed Applications

by

The goal of edge network computing is to bring computations away from data centers, moving closer to where requests are made, reducing latency as well as improving transfer rates and response times in the process. Despite these obvious benefits, building infrastructure to support edge native computing requires custom builds and becomes expensively quickly. Mycelial is the platform that seamlessly connects applications, irrespective of where they are located – offline, online, edge, and cloud. Developers can easily access and write data across distributed applications without having to worry about setting up convoluted infrastructure and without permissioning issues. As we move towards building omnichannel experiences across a growing number of devices and apps, both internal and external, Mycelial is able to ensure everything is in sync with just a few clicks. The company just recently launched in private beta with plans for a generally available release soon. AlleyWatch caught up with Mycelial CEO and Cofounder Michael Tanenbaum to learn more about the genesis of the company, how Edge Native frameworks will power the future of innovation, the company’s recent funding round led by Crane Venture Partners, and much, much more.

OpenWeb Raises Another $150M for its Online Conversation Platform for Publishers to Build Direct Relationships with their Audiences

by

There’s been a growing movement towards a cookie-less environment in digital advertising and the general trends towards restricting the use of consumer data are leaving digital marketers, brands, and publishers to re-evaluate their approaches in a privacy-driven environment. In this upheaval, first-party data and first-party relationships are moving to the forefront to shape the future of advertising, and consequently, publishing. Privacy-first, first-party data that is willingly shared by customers over time offers a distinct competitive advantage. OpenWeb is an online conversation platform that allows publishers to host social experiences without being reliant on social networks while building value first-party relationships with their audiences. Founded in 2012 as Spot.IM, OpenWeb works with 1000+ publishers, like News Corp., Hearst, and Yahoo, that represent 100M+ active monthly users in aggregate. AlleyWatch caught up with OpenWeb CEO and Cofounder Nadav Shoval to learn more about the company’s vision for the future of the web, expansion plans, and latest round of funding from investors that include Insight Partners, Georgian, Entree Capital, and Omer Cygler