In a week of tech advancements and industry shifts, several companies and individuals made headlines. From AI-powered fashion innovations to the opening of a new retail store and venture capital strategies, the tech world saw a flurry of activity.
Stacy Brown-Philpot, former TaskRabbit CEO and Google veteran, launched Cherryrock Capital a year ago, focusing on Series A and B investments in overlooked founders. According to TechCrunch, Brown-Philpot identified a gap in the market for capital access, particularly for underinvested entrepreneurs building software companies.
Meanwhile, Jenny Wang, founder of Alta, is bringing "Clueless" fashion tech to life. Last year, Alta raised $11 million in a round led by Menlo Ventures. The app allows users to create digital closets and virtually try on clothes using AI. TechCrunch reported that the company has expanded since that round, with big names like models Jasmine Tookes and Karlie Kloss, and Rent the Runway cofounder Jenny Fleiss participating in the round.
However, not all tech news was met with enthusiasm. Hollywood organizations are pushing back against Seedance 2.0, a new AI video model from ByteDance. According to the Wall Street Journal, the model, similar to OpenAI's Sora, allows users to create videos from text prompts. TechCrunch reported that the model has quickly become a tool for copyright infringement.
In the fashion world, designer Kate Barton teamed up with Fiducia AI and IBM for a New York Fashion Week presentation. Barton created a multilingual AI agent to help guests identify and virtually try on pieces from her collection. "Today, tech is a tool for expanding the world around the clothes, how they are presented, and how people enter the story," Barton said, according to TechCrunch.
Finally, hardware company Nothing, backed by Tiger Global, opened its first retail store in India, its largest market. Located in Bengaluru, the two-story store will showcase Nothing's products and allow customers to purchase hardware and merchandise. "We wanted to create a fun space," said Carl Pei, Nothing's co-founder and CEO, as reported by TechCrunch. The store will also feature production line displays and testing machines, offering a unique customer experience.
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