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LEVR.AI Closes $1M Seed Round to Advance AI-Driven Lending for Small Businesses

LEVR.AI Closes $1M Seed Round to Advance AI-Driven Lending for Small Businesses

The $1 million initial round of investment for Levr Technologies Inc., also referred to as Levr.ai, has been successfully closed to support the company’s AI-powered small business lending platform. Weave VC and Sprout Fund II have contributed follow-on capital to this round of financing, which also includes contributions from several new investors. With this critical fundraising round, Levr.ai can now provide small company owners with creative ways to raise loan capital, access necessary financial tools, and increase financial management.

Quick Development and Growth

LEVR.AI Closes $1M Seed Round to Advance AI-Driven Lending for Small Businesses

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With its main office in Vancouver, British Columbia, Levr.ai has seen rapid expansion, and its total investment has already surpassed $2.5 million. More than 2,000 small companies in Canada and the US have found success with the platform, and plans are to expand into the US market. Remarkably, thirty percent of Levr.ai’s traffic comes from the United States, suggesting that demand for its services is rising. By providing access to financing choices from more than 40 strategic partners, the platform promotes openness and aids in well-informed decision-making for company owners.

Using AI to Grow Your Business

Advanced machine learning (ML) and artificial intelligence (AI) algorithms form the basis of Levr.ai’s product. The platform’s in-house recommendation engine, which is powered by these technologies, simplifies and expedites the loan process while increasing its accessibility, speed, and transparency. Levr.ai uses artificial intelligence (AI) and data analytics to provide entrepreneurs with customised finance options promoting company expansion. This solves the long-standing issue of small enterprises’ restricted access to cash.

Addressing an Important Need

There have been notable changes in the small company financing environment, with an increasing proportion of loans being made through non-traditional banking channels. The Bank Policy Institute (BPI) reports that more than 80% of loans are now made possible by other channels. Kaylan Pepin, co-founder and CEO of Levr.ai, highlights the platform’s ability to support companies that traditional banks and tech firms miss. Levr.ai seeks to stimulate innovation and growth in small firms by democratising access to financing and utilising AI-driven insights.

Motivating enhancement

Levr.ai, which just secured a $1 million investment, is well-positioned to broaden its scope and influence, presenting itself as a driving force behind improvements to the small business loan market. The platform is still dedicated to providing easily accessible finance options for business owners and encouraging long-term company expansion in the face of a more difficult economic climate.

In Conclusion, Levr.ai’s successful seed round demonstrates investor faith in the company’s goals and emphasises how AI can completely change the funding landscape for small businesses. Levr.ai is positioned to transform small company financing in the future and promote resilience and prosperity throughout entrepreneurial ecosystems as it develops and broadens its product offerings.

Techtaka Secures $9.5M Funding Boost for E-commerce Fulfillment Innovation

Techtaka Secures $9.5M Funding Boost for E-commerce Fulfillment Innovation

South Korean startup, TechTaka, has recently secured $9.5 million in a Series B round of funding from Altos Ventures, fueling its mission to revolutionize e-commerce logistics. With a focus on providing third-party logistics services, TechTaka aims to streamline supply chain management for online sellers, freeing them to concentrate on product innovation and marketing strategies.

Empowering E-commerce Through Seamless Logistics

Techtaka Secures $9.5M Funding Boost for E-commerce Fulfillment Innovation

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TechTaka’s flagship service, Argo, launched in March 2021, offers a comprehensive solution for warehousing, order processing, and shipping. Founded by Soo Young Yang and Kyung Wook Lee, both seasoned professionals with backgrounds at tech giants like Amazon and Coupang, TechTaka understands the importance of efficient logistics in the competitive e-commerce landscape.

A Strategic Leap Towards Expansion

With the latest funding round, totaling $18 million in investments, TechTaka is poised for expansion. The startup plans to deepen its partnerships with key marketplaces and sales channels, not only in South Korea but also in the lucrative markets of the U.S. and Southeast Asia. Already, TechTaka has established a presence in Seattle and aims to facilitate Korean vendors’ access to global platforms like Amazon and Shopify.

Innovative Solutions Driven by AI

TechTaka distinguishes itself through its integration of artificial intelligence into its operations. By analyzing shipment patterns and predicting inventory needs, Argo’s AI technology optimizes warehouse processes, reduces operational errors, and enhances delivery efficiency. According to CEO Soo Young Yang, internal research has demonstrated a 20% time savings in the supply chain process through the company’s optimization algorithms.

Strategic Partnerships for Future Growth

TechTaka’s collaboration with LG CNS underscores its commitment to innovation. Together, they plan to introduce a Robot-as-a-Service (RaaS) model to enhance warehouse operations using collaborative robotic solutions. By leveraging LG’s expertise in robotics and TechTaka’s logistics prowess, the partnership aims to further streamline fulfillment processes.

As TechTaka continues to expand its footprint and refine its operations, it is poised to make a significant impact on the e-commerce industry. With a focus on technological innovation, strategic partnerships, and customer-centric solutions, TechTaka is well-positioned to meet the evolving demands of online merchants, both domestically and internationally.

In conclusion, TechTaka’s recent funding round and strategic initiatives underscore its commitment to reshaping the e-commerce logistics landscape. With a focus on innovation and customer satisfaction, TechTaka is poised to drive efficiency and growth in the ever-evolving world of online commerce.

Armilla AI Secures $4.5M in Funding to Safeguard Business AI with Insurance

Armilla AI Secures $4.5M in Funding to Safeguard Business AI with Insurance

The rapid advancement of artificial intelligence (AI) presents a world of possibilities for industries, yet alongside this potential comes concerns about its risks. To address these apprehensions and bolster trust in AI integration, Armilla AI, a Toronto-based platform, has secured $4.5 million in seed funding. Led by Mistral Venture Partners and backed by a consortium of investors including MS&AD Ventures, SixThirty Ventures, Morgan Creek Digital, and Y Combinator, along with insurance providers Greenlight Re and Chaucer, this funding marks a significant milestone for Armilla AI. The infusion of capital will fuel the expansion of their flagship product, Armilla Guaranteed, aimed at providing quality assessment and performance guarantees for AI products.

Building Confidence in AI Adoption

Armilla AI Secures $4.5M in Funding to Safeguard Business AI with Insurance

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In a landscape where enterprises grapple with uncertainties surrounding third-party AI vendors, Armilla AI emerges as a beacon of assurance. Karthik Ramakrishnan, CEO and co-founder of Armilla AI, emphasizes the importance of instilling confidence in businesses: “Our warranties ensure they get compliant, well-performing models, with protection if anything goes wrong.” With such assurances, Armilla AI aims to alleviate concerns and facilitate smoother adoption of AI technologies across sectors.

Addressing Emerging Risks

As AI permeates various industries, concerns regarding ethical development, bias, and misuse are on the rise. A Deloitte survey underscores this sentiment, revealing that 75% of C-suite executives feel ill-prepared to manage emerging AI risks. In response to this pressing need, Armilla AI’s commitment to ethical development and risk mitigation through comprehensive assessments stands out. Raif Barbaros, Partner at Mistral Venture Partners, acknowledges Armilla’s role in navigating regulatory challenges and minimizing risk, thus making AI safer for all stakeholders.

A Safety Net for Businesses

Armilla Guaranteed offers more than just verification; it serves as a safety net for businesses hesitant to embrace potentially risky AI models. By conducting thorough assessments using cutting-edge AI/LLM evaluation technology, Armilla identifies issues such as bias, weak data, and potential performance failures. Moreover, their unique reimbursement guarantee, backed by leading reinsurers like Swiss Re, Greenlight Re, and Chaucer, provides additional financial protection and peace of mind for buyers.

Fostering Transparency and Trust

Transparency is key to fostering trust in AI adoption. Armilla’s assessments provide detailed reports, highlighting potential risks and areas for improvement. This transparency not only empowers businesses to make informed decisions but also enables AI vendors to showcase their commitment to responsible development, thereby building trust with potential clients.

Shaping a Responsible AI Future

With partnerships spanning healthcare, finance, and manufacturing, Armilla AI demonstrates the versatility of its solution across industries. Tiffine Wang, Partner at MS&AD Ventures, emphasizes the importance of responsible AI and the peace of mind it brings, particularly in the realm of emerging technologies. As AI continues to evolve, Armilla AI’s dedication to fostering trust and responsible development positions them as a pivotal player in shaping a future where AI benefits both businesses and society at large.

Brian Johnson's AI-Powered Full Body MRI Startup Gets a $21 Million Boost

Brian Johnson’s AI-Powered Full Body MRI Startup Gets a $21 Million Boost

Biohacker and tech entrepreneur Bryan Johnson is on a mission to revolutionize preventative healthcare with full-body MRI scans. He’s backing New York-based startup Ezra, which recently secured $21 million in funding to make this vision a reality.

Bryan Johnson is not your average tech entrepreneur. As a fervent biohacker, he’s deeply invested in leveraging technology to improve human health. His latest endeavor involves advocating for the widespread adoption of full-body MRI scans as a proactive approach to detecting potential health issues, particularly cancer.

Meet Ezra: Redefining MRI Scans with AI

Brian Johnson's AI-Powered Full Body MRI Startup Gets a $21 Million Boost

At the forefront of Johnson’s vision is Ezra, a startup that harnesses the power of artificial intelligence to streamline the process of full-body MRI scans. Unlike traditional methods, Ezra’s AI technology, Ezra Flash, analyzes scans rapidly, significantly reducing the time patients spend in the scanner.

One might assume Ezra owns its MRI machines, but the company’s approach is different. It partners with existing radiology centers, maximizing accessibility without the burden of machine ownership. This collaborative model allows Ezra to focus on refining its AI algorithms for enhanced scan quality and efficiency.

Addressing Skepticism and Concerns

Despite its promise, the mainstream adoption of full-body MRI scans isn’t without its skeptics. Medical experts raise concerns about overdiagnosis and overtreatment, cautioning against unnecessary stress and costs for patients. They argue that not all abnormalities detected warrant intervention.

Ezra’s CEO, Emi Gal, remains undeterred by skepticism. He believes that the benefits of early detection outweigh the risks of false positives. Gal aims to make full-body MRI scans more accessible by reducing costs, with a target price of $500 for a 15-minute scan within the next two years.

In conclusion, Bryan Johnson’s endorsement of Ezra underscores a paradigm shift in preventative healthcare. With AI-driven innovations and strategic partnerships, Ezra is poised to democratize full-body MRI scans, offering individuals the opportunity for proactive health monitoring. While challenges persist, the potential impact on early disease detection and treatment is undeniable.

Startup Zededa Raises $72 Million to Advance AI-Powered Solutions

Startup Zededa Raises $72 Million to Advance AI-Powered Solutions

In a testament to investor confidence in the burgeoning field of edge computing and artificial intelligence (AI), startup Zededa has secured a substantial $72 million in funding. The infusion of capital underscores the critical role that companies like Zededa play in facilitating the seamless operation of AI-driven technologies across various industries.

Startup Zededa Raises $72 Million to Advance AI-Powered Solutions

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Zededa specializes in edge computing, a paradigm that involves processing data as close to the source as possible, rather than relying solely on centralized data centers. This approach is particularly vital for AI applications, which entail massive data processing requirements. Based in San Jose, California, Zededa addresses the unique challenges posed by AI’s computing demands in distributed environments.

Claudio Fayad, Vice President for Technology at Emerson Automation Solutions, highlights the significance of data accessibility for AI. He emphasizes that processing data locally enhances efficiency, especially for tasks like predictive maintenance. Zededa’s solutions enable organizations to leverage AI effectively in diverse scenarios, such as managing solar panels in fields or optimizing operations on oil rigs.

Streamlining Edge Computing Orchestration

A key aspect of modern edge computing is orchestration, the process of ensuring seamless collaboration among remote devices. Zededa focuses on streamlining this orchestration process, empowering businesses to harness the collective processing capabilities of distributed edge networks efficiently. This optimization is crucial for unlocking the full potential of AI-driven analytics and decision-making at the edge.

Fayad observes a shift in preference towards AI over traditional analytics software, citing AI’s adaptability and ability to discern nuanced situations. With AI, organizations can gain deeper insights and more sophisticated recommendations, driving improved operational efficiency and informed decision-making.

Strategic Investment and Visionary Leadership

Leading the recent funding round is Smith Point Capital, a venture firm co-founded by Keith Block, former co-CEO of Salesforce Inc. This investment signals a strong vote of confidence in Zededa’s vision and capabilities. Notably, returning investors include Lux Capital, Chevron Technology Ventures, and Porsche Ventures, underscoring continued support for Zededa’s innovative edge computing solutions.

Founded in 2016 by Said Ouissal, a veteran of telecommunications giants Ericsson and Juniper Networks Inc., Zededa has steadily positioned itself as a key player in the evolving landscape of edge computing and AI. The company’s commitment to driving innovation and addressing the evolving needs of industries underscores its potential to shape the future of enterprise computing.

In conclusion, Zededa’s successful funding round reflects both the growing demand for edge computing solutions and investor confidence in the transformative potential of AI. As businesses increasingly rely on AI-driven insights to drive growth and efficiency, Zededa’s pioneering efforts in streamlining edge computing orchestration are poised to play a pivotal role in shaping the digital landscape of tomorrow.

Saudi’s Tabby Gets $700 Million Credit Line From JPMorgan

Saudi’s Tabby Gets $700 Million Credit Line From JPMorgan

UAE-founded and Saudi Arabia-headquartered fintech Tabby has recently clinched a monumental $700 million debt financing round from J.P. Morgan, propelling its plans for an initial public offering (IPO) in the kingdom.

Empowering Fintech Growth in the MENA Region

Tabby, a burgeoning financial services app in the MENA region, has struck a significant deal with J.P. Morgan, setting a regional milestone as the largest asset-backed facility obtained by a fintech company in this territory.

Saudi’s Tabby Gets $700 Million Credit Line From JPMorgan

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This financing coup arrives hot on the heels of Tabby’s previous successful funding rounds, where it raised $200 million in Series D equity financing and subsequently upsized its debt facility to $350 million. With these strategic moves, Tabby is on an accelerated trajectory, positioning itself robustly in the competitive fintech landscape.

Founded in 2019 by Hosam Arab, Tabby has rapidly evolved, offering users a seamless buy now, pay later (BNPL) facility for both online and offline shopping experiences. Managing an impressive $6 billion in annualized transaction volume, Tabby’s influence in reshaping personal finance in the region is becoming increasingly evident.

The latest financial boost not only fortifies Tabby’s financial foundation but also amplifies its capability to expand its suite of financial services and shopping products. With a consumer base of 10 million and partnerships with over 30,000 retailers, Tabby aims to deepen its impact and redefine financial access and convenience across the MENA market.

Visionary Leadership and Strategic Collaboration

CEO and Co-Founder Hosam Arab expressed immense pride in achieving this milestone, emphasizing the significance of the collaboration with key investors like J.P. Morgan, Hassana Investment Company, Soros Capital Management, and Saudi Venture Capital. This collective backing underscores Tabby’s pivotal role in revolutionizing personal finance and shopping experiences in the MENA region.

George Deves, Co-Head of Northern European ABS at J.P. Morgan, highlighted the importance of fostering a vibrant consumer lending sector, affirming their commitment to support retail credit in the Middle East through this strategic partnership with Tabby.

Ahmed Al Qahtani, Chief Investment Officer for Regional Markets at Hassana Investment Company, echoed the sentiment, emphasizing their belief in Tabby’s vision and its potential to reshape the future of financial services across Saudi Arabia and the broader MENA region.

Tabby’s achievement further solidifies the MENA region’s growing prominence in the global fintech arena. With recent funding rounds and strategic partnerships becoming the norm, the landscape appears ripe for continued innovation and disruptive growth in the realm of financial technology.

As Tabby sets its sights on an IPO in the kingdom, its journey reflects not just its own success story but also the evolving narrative of fintech in the region, poised for transformational change.