TechCrunch Highlights Startup Initiatives and Industry Shifts
TechCrunch recently covered a range of developments across the tech landscape, from funding for carbon removal projects in the Global South to shifts in the GPU market and the adoption of stablecoins for startup investments. The publication also spotlighted the challenges faced by the Minneapolis tech community and the upcoming Startup Battlefield 200 competition.
Varaha, an India-based climate tech startup, secured $20 million in funding to expand its carbon removal projects in Asia and Africa, positioning itself as a lower-cost supplier of verified emissions reductions, according to TechCrunch. The investment represents the first part of a planned $45 million Series B round led by WestBridge Capital, with participation from existing investors including RTP Global and Omnivore. Founded in 2022, Varaha has raised approximately $33 million in equity to date, along with $35 million in project financing and $500,000 in grants.
Meanwhile, Y Combinator (YC) announced that startups accepted into its program will soon have the option to receive their seed checks via stablecoins. Nemil Dalal, a crypto partner at YC, told The Block that this option would be available starting with the upcoming spring batch on the Base, Solana, and Ethereum blockchains. YC's standard deal involves investing $500,000 into startups in exchange for 7% of their companies. Dalal noted that stablecoin transfers are often more effective, particularly for founders in emerging markets. This move follows YC's partnership with Base and Coinbase Ventures last fall to encourage the development of more blockchain-related companies.
In the hardware sector, Intel CEO Lip-Bu Tan announced at the Cisco AI Summit that the company will begin producing graphics processing units (GPUs), a market currently dominated by Nvidia. According to Reuters, the project will be overseen by Kevork Kechichian, the executive vice president and general manager of Intel's data center group, who was hired in September as part of a wave of new engineering-focused hires. GPUs are specialized processors used for gaming and tasks like training artificial intelligence models.
TechCrunch also reported on the challenges facing the Minneapolis tech community due to increased immigration enforcement. Eight Minneapolis-based founders and investors told TechCrunch that they have shifted their focus to supporting their communities, volunteering, and providing assistance to those affected. Scott Burns, an investor in the area, told TechCrunch that people are "very fatigued" and are actively participating in grassroots efforts to offer support.
Looking ahead, TechCrunch is preparing for its annual Startup Battlefield 200 competition, which will be held at TechCrunch Disrupt in San Francisco. The competition offers early-stage startups visibility, access to investors, and opportunities for growth. Applications for the upcoming competition will open this month.
Discussion
AI Experts & Community
Be the first to comment