Is Robotics-As-A-Service (RaaS) the Next Big Thing?

Hey everyone, 

We are back with yet another action-packed Tech Creator edition.

There’s drama, there’s robots, and some fun stories about Coca-Cola at the end. (Bet you didn’t know this) 🤭

What are we waiting for?

Let’s get started. 

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Techstars and JP Morgan: A $80 million partnership getting sour? 

Techstars and JP Morgan entered an $80 million partnership to launch the Advancing Cities Fund, which aims to support startups founded by diverse individuals.

However, things seem to be going wrong.

In 2022, Techstars started an accelerator program focused on underrepresented founders.

The Techstars program aimed to back over 400 companies. 

But soon, a series of missteps had JP Morgan ‘disengaged.’

Let’s find out more about the relationship. 

Broken Trust?

Internal documents reveal concerns at JP Morgan about "a long series of incidents" since the fund's launch in 2022.

These included complaints about program directors, events, and even a controversial invitation to a politician at a Demo Day.

A major point of contention was the definition of "diverse founder."

JP Morgan preferred a narrower definition focusing on Black, Latino, Indigenous, and Pacific Islander founders, while Techstars used a broader scope, including gender, age, and veteran status. This led to accusations of "spinning numbers" on diversity metrics.

The mismatch in goals

While JP Morgan prioritized a high percentage of diverse founders, Techstars' managing directors are incentivized by returns on investment.

This created tension as directors might prioritize founders with higher potential for follow-on funding, potentially neglecting diversity goals.

JP Morgan was reportedly frustrated by the high turnover rate in Techstars' leadership, with several C-suite executives leaving in the past year.

What’s the future of this estranged relationship?

With the initial contract expiring in December 2024, JP Morgan has yet to decide on renewal.

Techstars leadership has warned staff of potential layoffs or relocations if the funding ends. The future of the Advancing Cities program and its impact on diverse founders remains uncertain.

Volvo teams up with Breathe for faster EV charging 🤝

Ever get hangry waiting for your electric car to fill up?  

Volvo feels your pain, and they're teaming up with a British startup, Breathe Battery Technologies, to slash charging times by up to 30 percent!

• Ditches the boring old "one-size-fits-all" charging approach.

Breathe's technology adds intelligence to battery management.

Instead of relying on pre-programmed data for charging, Breathe's system dynamically monitors the battery pack, allowing tweaking the charge for maximum speed. ⚡️

• The science behind the speed

The traditional approach relies on pre-determined data sheets for charging a battery throughout its lifespan.

Breathe argues that these sheets underutilize the battery's potential. 

Their system continuously monitors the battery's electrochemistry and materials, allowing real-time adjustments to the charging process. This level of control unlocks faster charging times.

This partnership is a win-win. 🤝

This partnership benefits both companies. Volvo gets bragging rights for the fastest-charging EVs on the block, while Breathe gains valuable real-world data and exposure through Volvo's established network.

Additionally, Breathe's software is agnostic to cell chemistry and requires no hardware changes, making it potentially applicable to various devices beyond cars.

While Volvo hasn't revealed which of its upcoming EVs will be the first to feature Breathe's technology, this partnership promises to be a significant step forward in faster charging for EV. ⚡

Meet Digit: The lone robot at this year's Modex

Agility's bipedal robot, Digit, was the only humanoid robot on display at the 2024 Modex supply chain conference. Its maker, Agility, is leading the commercialization of humanoid robots for warehouse and manufacturing applications ahead of Tesla, 1X, and Apptronik.

• From Last-Mile Delivery to Warehouses

With worker shortages everywhere, Agility has shifted gears to help tackle warehouse automation for faster deliveries.

The company now works with automotive customers for lineside replenishment and tote retrieval tasks.

• Agility’s fleet management software: Agility Arc

Agility Arc is a new software platform designed for deployment, fleet management, and remote monitoring of Digit robots. This software allows for integration with existing warehouse management systems, streamlining operations and making life easier for everyone...

RaaS: You try before you buy

Agility knows robots aren't cheap, so they offer a "Robotics-as-a-Service" (RaaS) model. Basically, you try before you buy, letting you see if Digit is a good fit without a huge upfront investment. It's a win-win!

The future of Digit:

Agility envisions a future where Digit can swap out end effectors for different tasks. They believe the industry needs to focus on safety standards and collaboration to ensure the successful integration of robots into warehouse environments.

So, the next time you see a warehouse worker, they might just have a robot sidekick named Digit by their side!

Some more shots 🥃

• TSMC is in the top 10 most valuable companies: Taiwan Semiconductor Manufacturing Company (TSMC) is back in the top 10 most valuable companies globally! A 14% rally in their stock last week pushed their market cap to a record high. TSMC remains above Broadcom, securing a coveted spot in the top 10 for the first time since 2020. (Link)

• Astera seeks $534M in valuation: Intel-backed semiconductor company Astera Labs is seeking to raise $534 million through an initial public offering (IPO). The high investor demand is likely due to Astera's focus on artificial intelligence, a rapidly growing field. (Link)

• Ada Ventures secures $80M funding: Ada Ventures, a UK VC firm focused on inclusivity and diversity in founders, closed its second fund at $80 million. This unique approach attracted LPs like British Business Bank and Atomico. (Link)

Perspectives on tech news 🤔

A section where we share expert opinions that make you think…

• Listen to Roger Lee talking about how many startups shut down in 2023 and the year before. 

• What’s in Huawei’s game-changing 10 Petabyte storage product.

• How new ideas will make active shielding, first proposed in the 1960s, possible.

Tech Throwback: March 13, 1894

Coca-Cola, the beloved beverage enjoyed worldwide, first appeared in glass bottles in Vicksburg, Mississippi, USA, on this day in 1894. 

A candy store owner named Joseph A. Biedenharn was the first person to bottle Coca-Cola and sell it in his store.

Before then, it was sold as a fountain drink.

Imagine Coca-Cola only in fountains! Back in the day, that's how it was. 

Invented as a medicine substitute, Coke's creator wasn't sold in bottles earlier.

Enter Joseph Biedenharn, a candy store owner with a brilliant hunch. He bottled Coke himself, but it took five years to convince the brand to go national (for a mere dollar!). 

You can recognize the iconic bottle design today just by the feel of it. 

This iconic bottle design even came later, winning a contest in 1915 for being instantly recognizable, even in the dark. 

That’s a wrap. See you next week!