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April 22, 2019
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Skymind raises $11.5M to bring deep learning to more enterprises

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Skymind, a Y Combinator-incubated AI platform that aims to make deep learning more accessible to enterprises, today announced that it has raised an $11.5 million Series A round led by TransLink Capital, with participation from ServiceNow, Sumitomo’s Presidio Ventures, UpHonest Capital and GovTech Fund. Early investors Y Combinator, Tencent, Mandra Capital, Hemi Ventures, and GMO Ventures, also joined the round/ With this, the company has now raised a total of $17.9 million in funding.

The inclusion of TransLink Capital gives a hint as to how the company is planning to use the funding. One of TransLink’s specialties is helping entrepreneurs develop customers in Asia. Skymind believes that it has a major opportunity in that market, so having TransLink lead this round makes a lot of sense. Skymind also plans to use the round to build out its team in North America and fuel customer acquisition there.

“TransLink is the perfect lead for this round, because they know how to make connections between North America and Asia,” Skymind CEO Chris Nicholson told me. “That’s where the most growth is globally, and there are a lot of potential synergies. We’re also really excited to have strategic investors like ServiceNow and Sumitomo’s Presidio Ventures backing us for the first time. We’re already collaborating with ServiceNow, and Skymind software will be part of some powerful new technologies they roll out.”

It’s no secret that enterprises know that they have to adapt AI in some form but are struggling with figuring out how to do so. Skymind’s tools, including its core SKIL framework, allow data scientists to create workflows that take them from ingesting the data to cleaning it up, training their models and putting them into production. The promise here is that Skymind’s tools eliminate the gap that often exists between the data scientists and IT.

“The two big opportunities with AI are better customer experiences and more efficiency, and both are based on making smarter decisions about data, which is what AI does,” said Nicholson. “The main types of data that matter to enterprises are text and time series data (think web logs or payments). So we see a lot of demand for natural-language processing and for predictions around streams of data, like logs.”

Current Skymind customers include the likes of ServiceNow and telco company Orange, while some of its technology partners that integrate its services into their portfolio include Cisco and SoftBank .

It’s worth noting that Skymind is also the company behind Deeplearning4j, one of the most popular open-source AI tools for Java. The company is also a major contributor to the Python-based Keras deep learning framework.

News Source = techcrunch.com

BeliMobilGue raises $10M for its used-car sales platform in Indonesia

in Asia/Automotive/Balderton Capital/catcha/Companies/Delhi/eCommerce/Europe/Finance/frontier car group/Google/India/Indonesia/industries/Intudo Ventures/Jakarta/Java/latin america/Naspers/OLX/online marketplaces/partech ventures/Politics/Southeast Asia/temasek/Toyota/TPG Capital/TPG Growth by

BeliMobilGue, a used car sales platform in Indonesia, has fueled up with a $10 million Series round for the race to dominate the automotive market in Southeast Asia’s largest economy.

The company was started in 2017 as a joint venture between Europe’s Frontier Car Group (FCG) and Intudo Ventures, a VC firm focused on Indonesia. BeliMobilGue said today that the capital came from FCG and new investors, which include Tunas Toyota — the authorized dealership for Toyota cars in Indonesia.

It’s worth noting that FCG itself is a venture which, as the name sounds, develops on automotive ventures in emerging (frontier) markets in Latin America, Asia and Africa. Its investors include Naspers/OLX, Balderton Capital, TPG Growth and Partech Ventures.

This Series A round follows a $3.7 million round last year for BeliMobilGue — which means ‘buy my car’ in Indonesia’s Bahasa language.

BeliMobilGue is aimed at making it easy for car owners to sell their vehicle.

The first step is an online price estimation for vehicle. If the owner is happy with the valuation, BeliMobilGue takes the vehicles in and, after a one hour check attended in person by its testers, it arranges a sale to its network of over 1,000 dealers and private buyers. The entire process is targeted at one hour and is free for consumers, BeliMobilGue CEO Rolf Monteiro told TechCrunch.

The company has 30 physical testing points across Jakarta, Indonesia’s capital city, and with this money in the bank it is targeting expansion to Java. By the end of this year, Monteiro forecasts that the number of physical stations will have passed 100.

Another target for this year is ancillary services. BeliMobilGue is focused on enabling dealers, many of whom are often small businesses rather than nationwide chains, to growth with its service so it is offering financial packages financed by a third-party bank.

“The difference between small and large dealerships is their access to capital,” Monteiro explained in an interview. “We are a little bit more comfortable [than a bank] to extend their finance because we’re not just using data, we’re sitting on that dealer relationship.

“Plus we are sitting on cars, so we are financing cars that come from our platform and [if necessary] we can help offload the car for the dealer,” he added.

BeliMobilGue aims to sell vehicles within an hour, that includes a comprehensive inspection that’s carried out by its staff and covers 300 points.

BeliMobilGue is far from alone in going after Indonesia, which is the world’s fourth most populous country and the cornerstone of most digital strategies for the region. An annual report from Google and Temasek forecasts that Indonesia’s online economy will grow to $100 billion by 2025 from $8 billion in 2015. Southeast Asia as a whole is predicted to reach $240 billion, which is telling of the significance of Indonesia.

With that in mind, regional rivals have doubled down on Indonesia.

Carro has raised $78 million to date — including a $60 million Series B last year — while Carsome has $27 million and iCar Asia, from venture builder Catcha, has pulled in $39 million to date.

Each of that trio serves multiple markets across the region, not Indonesia exclusively, which is where Monteiro believes he can find an advantage. While he admitted that BeliMobilGue could have raised more money — it stuck to finding ‘smart money’ over amassing pools of cash, he said — he sees the existance of competition as win-win for the industry.

“Indonesia is a massive market,” he said. “Whether it is us, Carro or Carsome, the competition helps educate the market and it will get us new business. But, as much as I welcome them, I want that dominant position.”

Adding strategic investors like Tunas Toyota is, Monteiro believes another key differentiator.

“An investor like Tunas has 25-30 years of experience, so, for us, this partnership is golden. We’re quite content with the round and how it played out,” he said.

News Source = techcrunch.com

Microsoft Azure bets big on IoT

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At its Ignite conference in Orlando, Florida, Microsoft today announced a plethora of new Internet of Things-focused updates to its Azure cloud computing platform. It’s no secret that the amount of data generated by IoT devices is a boon to cloud computing services like Azure — and Microsoft is definitely aiming to capitalize on this (and its existing relationships with companies in this space).

Some of today’s announcements are relatively minor. Azure IoT Central, the company’s solution for helping you get started with IoT, is now generally available, for example, and there are updates to Microsoft’s IoT provisioning service, IoT hub message routing tools and Map Control API.

Microsoft also today announced that the Azure IoT platform will now support Google’s Android and Android Things platform via its Java SDK.

What’s more interesting, though, is the new services. The highlight here is probably the launch of Azure Digital Twins. Using this new service, enterprises can now build their own digital models of any physical environment.

Think of it as the virtual counterpart to a real-world IoT deployment — and as the IoT deployment in the real world changes, so does the digital model. It will provide developers with a full view of all the devices they have deployed and allows them to run advanced analytics and test scenarios as needed without having to make changes to the actual physical deployment.

“As the world enters the next wave of innovation in IoT where the connected objects such as buildings, equipment or factory floors need to be understood in the context of their environments, Azure Digital Twins provides a complete picture of the relationships and processes that connect people, places and devices,” the company explains in today’s announcement.

Azure Digital Twins will launch into preview on October 15.

The other major announcement is that Azure Sphere, Microsoft’s play for getting into small connected microcontroller devices, is now in public preview, with development kits shipping to developers now. For Azure Sphere, Microsoft built its own Linux-based kernel, but the focus here is obviously on selling services around it, not getting licensing fees. Every year, hardware companies ship nine billion of these small chips and few of them are easily updated and hence prone to security issues once they are out in the wild. Azure Sphere aims to offer a combination of cloud-based security, a secure OS and a certified microcontroller to remedy this situation.

Microsoft also notes that Azure IoT Edge, its fully managed service for delivering Azure services, custom logic and AI models to the edge, is getting a few updates, too, including the ability to submit third-party IoT Edge modules for certification and inclusion in the Azure Marketplace. It’s also about to launch the public preview of IoT Edge extended offline for those kinds of use cases where an IoT device goes offline for — you guessed it — and extended period.

more Microsoft Ignite 2018 coverage

News Source = techcrunch.com

Microsoft’s Azure Functions adds support for Java

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Azure Functions, Microsoft’s platform for building serverless applications, has long supported a variety of programming languages but it’s adding an important one today: Java. Fittingly, the company made this announcement at the JavaOne conference in San Francisco.

As Microsoft notes in today’s announcement, Java support was one of the top feature requests for Azure Functions since it launched. This is the first time Microsoft is adding support for a new language in Azure Functions, too. Until now, the service only supported JavaScript, C#, F#, Python, PHP, Bash, Batch and PowerShell. It’s not so much that Java allows programmers to do anything that these other languages don’t, but given its reach in the enterprise — a market that Microsoft is clearly targeting with Azure Functions — not having support for it meant that a large number of developers were essentially shut out of using it.

Microsoft stresses that Java developers won’t have to learn any new tools to use Azure Functions. Microsoft is also making a Maven plugin available that will allow developers to write and deploy their Maven-enabled apps directly to Azure Functions.

Featured Image: Getty Images

News Source = techcrunch.com

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