As other startups slash spending and hoard cash, Databricks hits accelerator – TechCrunch

When Databricks announced earlier this month that it crossed a run rate of $1 billion, it was certainly a big milestone for the company, but it wasn’t a huge surprise. The data lake startup has been flying. Almost exactly a year ago, Databricks announced a $1.6 billion raise on an astonishing $38 billion valuation with $600 million ARR. That grew to $800 million ARR by February this year. Databricks now says that it’s no longer counting ARR, but instead looks at quarterly earnings and calculates a yearly run rate instead.…

Diagnostic Robotics has AI catching health problems before they take you to the ER – TechCrunch

A stitch in time saves nine, they say — and a blood thinner in time saves a trip to the emergency room for a heart attack, as Diagnostic Robotics hopes to show. The company’s machine learning-powered preventative care aims to predict and avoid dangerous (and costly) medical crises, saving everyone money and hopefully keeping them healthier in general —  and it’s raised $45 million to scale up. It’s important to explain at the start that this particular combination of AI, insurance, hospital bills, and “predictive medicine” isn’t some kind of…

Wire grabs fresh funding for secure messaging tech that’s big with G7 governments – TechCrunch

More funding for European end-to-end encrypted messaging app, Wire: The enterprise-focused messaging platform told TechCrunch it’s closed a €24 million Series C round of funding led by growth equity firm Cipio Partners and Iconical, the investment vehicle of Skype co-founder Janus Friis. Existing investor UVC Partners also participating, among other returning backers. The messaging tool — which launched almost a decade ago — was originally conceived as a fresh take on secure consumer comms, drawing on certain connections to Skype (including early backing from Friis). But with increasingly fierce competition…

Open source software is needed to prevent future crypto hacks, Polygon CISO says – TechCrunch

The pace of crypto hacks hasn’t slowed in the dog days of summer, with tens of millions of dollars stolen in August alone. As the crypto community carries on in the wake of the expensive exploits, many web3 users are biting their tongue waiting for the next big one to strike. On August 1, Nomad, a crypto bridging protocol, was hacked for about $190 million. (Crypto bridges allow users to transfer one token on one chain into another on a different blockchain.) In a separate incident, just a day later,…

Identifying underserved market segments with Ethena and Homebrew on TechCrunch Live – TechCrunch

No one likes compliance training, but Ethena aims to improve the experience for everyone involved. Join Ethena’s CEO Roxanne Petraeus and Homebrew’s Hunter Walk on this TechCrunch Live event to hear the strategies used to tackle and grow in underserved market segments. This TechCrunch Live event opens on August 17 at 11:30 a.m. PDT/2:30 p.m. EDT with networking. The interview begins at 12 p.m. PDT followed by the TCL Pitch Practice at 12:30 p.m. PDT. Apply for TCL Pitch Practice by completing this application. TechCrunch Live records weekly on Wednesdays…

The best cloud unicorns aren’t as overvalued as you might think – TechCrunch

Living as we are in an IPO drought, new data points about the financial health of unicorns are annoyingly scarce. Unicorns — private tech companies worth $1 billion or more — have become an asset class of their own. Crunchbase counts 1,386 global unicorns, pegging their value at $4.8 trillion. CB Insights counts 1,180 worth $3.8 billion. Regardless of which number you think is more accurate, it’s clear that unexited unicorns represent one of the largest pools of paper wealth in the world. A programming note: I am off next…

Some frank advice for open-source startups seeking product-market fit – TechCrunch

Arnav Sahu is an investor at Y Combinator Continuity, YC’s growth-stage investing platform. He was previously an investor at Spark Capital, led M&A at AppDynamics and Cisco, and was an investor at The Blackstone Group. It is crazy how giving away your code for free has become a competitive business advantage. Successful companies such as Hashicorp, JFrog, Elastic, MongoDB and Gitlab have demonstrated the power of open source models. Unlike typical enterprise software companies, open source startups must go through two journeys for finding product-market fit:  First, building a product…

So, when is the SoftBank Execution Fund III dropping?

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Alex, Natasha and Mary Ann worked with Grace to record yet another weekly round up on all the tech news that may have flown past your radar. Or bumped into it so hard that you’re still dizzy and looking for more information. Regardless of where you’re at, here’s what we got into: For our deals of the week, we spoke about QED making its first African investment, backing…

Inventory management, frictionless checkout, computer vision – TechCrunch

Grocery store technology hasn’t changed much in decades, so when the pandemic hit, it served as a wake-up call to the industry, highlighting its shortcomings, especially concerning e-commerce. Grocery stores that don’t adapt will most likely lose out on market share. The good news for the grocery industry is that technology advancements in recent years, particularly in the area of computer vision, are giving startups a shot at providing grocery stores with e-commerce-like features in a brick-and-mortar setting. And venture capital is here for it. Investors say computer vision, along…

This startup is setting a DALL-E 2-like AI free, consequences be damned – TechCrunch

DALL-E 2, OpenAI’s powerful text-to-image AI system, can create photos in the style of cartoonists, 19th century daguerreotypists, stop-motion animators and more. But it has an important, artificial limitation: a filter that prevents it from creating images depicting public figures and content deemed too toxic. Now an open source alternative to DALL-E 2 is on the cusp of being released, and it’ll have no such filter. London- and Los Altos-based startup Stability AI this week announced the release of a DALL-E 2-like system, Stable Diffusion, to just over a thousand…