Tem, a London-based startup, secured $75 million in a Series B funding round to revolutionize electricity markets using AI, while Waymo is expanding its driverless robotaxi service to Nashville, and YouTube megastar MrBeast's company acquired the teen-focused banking app Step, according to recent announcements. These developments, along with Bluesky's new drafts feature and Databricks' impressive revenue growth, highlight the dynamic shifts occurring across the tech landscape.
Tem's funding round, led by Lightspeed Venture Partners, values the company at over $300 million, a source familiar with the deal told TechCrunch. The startup, which has already signed up over 2,600 business customers in the U.K., aims to leverage AI to cut energy prices. Tem's utility division promises savings of up to 30% on energy bills for its customers. The company plans to use the funds to further develop its energy transaction engine.
Waymo, the Alphabet-owned company, has removed human safety drivers from its autonomous test vehicles in Nashville, signaling its move toward launching a robotaxi service in the city this year. The service will initially be available through the Waymo app, with plans to integrate with the Lyft app as the service expands. Lyft will handle fleet services, including vehicle maintenance and charging infrastructure, through its subsidiary Flexdrive.
MrBeast's company, Beast Industries, acquired Step, a banking app geared toward Gen Z, in a move that could significantly expand the app's reach. Step, which has over 7 million users and has raised half a billion in funding, offers financial services designed to help young people build credit, save money, and invest. The app has attracted celebrity investors, including Charli D'Amelio and Will Smith. Partnering with MrBeast, the most-subscribed creator on YouTube with over 466 million subscribers, is a strategic move to connect with the target demographic.
Social network Bluesky rolled out drafts, a feature long requested by its users. The company also revealed its roadmap for the year, which includes improvements to its algorithmic Discover feed, better recommendations, and efforts to make the app feel more real-time.
Databricks, meanwhile, announced a $5.4 billion revenue run rate, growing 65% year-over-year, with over $1.4 billion coming from its AI products. Co-founder and CEO Ali Ghodsi stated that AI is increasing usage, despite concerns about its impact on the SaaS business model. Databricks also closed its previously announced $5 billion raise at a $134 billion valuation and secured a $2 billion loan facility.
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