Tech Industry Sees Diverse Developments: From Leadership Changes to Funding and New Ventures
The tech world is currently experiencing a flurry of activity, ranging from leadership changes at prominent companies to significant funding rounds for climate tech startups and new ventures in the semiconductor industry. These developments highlight the dynamic nature of the sector and its responsiveness to emerging trends and challenges.
One notable change involves Dr. Peter Attia, a prominent figure in the longevity and preventive health space. Attia stepped down from his role as Chief Science Officer at David Protein, a maker of high-protein nutrition bars, according to an announcement made on X by the company's founder on Monday. Attia's name recently appeared in over 1,700 documents, including email correspondence, released as part of a massive file dump related to convicted sex offender Jeffrey Epstein, according to The New York Times. Attia, known for his bestselling book "Outlive: The Science and Art of Longevity" and his podcast, was also an early investor in the food startup.
In other news, Varaha, an India-based climate tech startup, secured $20 million in funding to scale carbon removal projects from the Global South. The investment represents the initial portion of a planned $45 million Series B round led by WestBridge Capital, marking the venture firm's first foray into climate tech. Existing investors, including RTP Global and Omnivore, also participated. 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, as it develops carbon removal projects across Asia and Africa. The company aims to position itself as a lower-cost supplier for verified emissions reductions, capitalizing on India's emergence as a key hub for such projects due to its lower operating costs and extensive agricultural supply.
Meanwhile, Intel CEO Lip-Bu Tan announced at the Cisco AI Summit on Tuesday that the company will begin producing graphics processing units (GPUs), a market currently dominated by Nvidia. These specialized processors are used for gaming and training artificial intelligence models. Kevork Kechichian, the executive vice president and general manager of Intel's data center group, will oversee the project, according to Reuters. Kechichian was hired in September as part of a wave of new engineer-focused hires.
YC startups will soon have the option to receive their seed checks via stablecoins, according to crypto YC partner Nemil Dalal, speaking to The Block. YC's standard deal involves a $500,000 investment in startups accepted into its program in exchange for 7% of their companies. This deal is now expanding to the blockchain (Base, Solana, and Ethereum), starting with the upcoming spring batch. Dalal noted that stablecoin transfers are often more effective, particularly for founders in emerging markets. Last fall, YC partnered with Base and Coinbase Ventures to encourage founders to build more blockchain-related companies, reflecting a resurgence of interest in blockchain tech in Silicon Valley.
However, the tech community in Minneapolis is facing challenges as U.S. immigration agents have escalated their crackdown in the city. Eight Minneapolis-based founders and investors told TechCrunch that they have largely paused their work to focus on supporting their communities, volunteering at churches, and helping to provide food. Scott Burns, an investor in the area, told TechCrunch that "there's a lot of commonality between how a teacher is reacting right now and how a tech professional is reacting," adding that "people are very fatigued." Burns is attending church more frequently to assist with food distribution.
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