Wejo Group Limited a global leader in Smart Mobility for Good cloud and software analytics for connected, electric and autonomous mobility, announced that it has entered into a definitive business combination agreement to combine with TKB Critical Technologies 1. The proposed business combination is subject to a number of closing conditions and the parties anticipate that the transaction will close in the second quarter of 2023. Upon closing of the business combination, the combined company will retain Wejo's ticker symbol and will continue to trade on the Nasdaq Stock Market LLC. Through a combination of an anticipated PIPE raise and funds from TKB's trust, Wejo believes that this transaction can raise up to $100 million to fund its growth initiatives and position the company to execute on its strategic goals, and potentially reach cash flow breakeven which is expected by mid-2025. Wejo will continue to work on additional short-term funding initiatives to provide bridge capital until the transaction closes.

Jan 10 (Reuters) - BioNTech SE has agreed to acquire British artificial intelligence (AI) startup InstaDeep for up to 562 million pounds ($682 million) to speed up its biotech research and manufacturing capabilities. Under the German vaccine maker's largest takeover deal to date, BioNTech is to pay 362 million pounds upfront, in a mix of cash and an unspecified number of BioNTech shares, and up to 200 million pounds contingent on InstaDeep's future performance. "Our goal with the acquisition is to integrate AI seamlessly in all aspects of our work - from target discovery, lead discovery to manufacturing and delivery of our products," BioNTech co-founder and Chief Executive Ugur Sahin said at the J.P. Morgan healthcare conference on Tuesday. Sahin also cited BioNTech's partnership last week with the U.K. government for development of personalized cancer therapies and how AI would help in that. The transaction adds to a slew of deals as the industry meets in San Francisco for the conference this week.

OpenAI Inc., the startup behind the Artificial Intelligence-powered chatbot tool ChatGPT, is the subject of a tender offer from investors that could see its valuation soar to as much as USD 29 billion. In a deal that would see them buy shares from current OpenAI shareholders like its employees, the venture capitalist firms Founders Fund and Thrive Capital are reportedly in talks to invest in the hot startup. This is according to a report from the Wall Street Journal. If the deal goes through, OpenAI's previous valuation of USD 14 billion, established following its most recent tender offer in 2021, would more than double. With the release of its popular chatbot tool ChatGPT in the latter part of last year, OpenAI recently captured the public's attention.

OpenAI, the research lab behind the viral ChatGPT chatbot, is in talks to sell existing shares in a tender offer that would value the company at around $29 billion, according to people familiar with the matter, making it one of the most valuable U.S. startups on paper despite generating little revenue. Venture-capital firms Thrive Capital and Founders Fund are in talks to buy shares, the people said. The tender could total at least $300 million in OpenAI share sales, they said. The deal is structured as a tender offer, with the investors buying shares from existing shareholders such as employees, the people said.

Five weeks ago, OpenAI, a San Francisco artificial intelligence lab, released ChatGPT, a chatbot that answers questions in clear, concise prose. The A.I.-powered tool immediately caused a sensation, with more than a million people using it to create everything from poetry to high school term papers to rewrites of Queen songs. Now OpenAI is in the midst of a new gold rush. The lab is in talks to complete a deal that would value it at around $29 billion, more than twice its valuation in 2021, two people with knowledge of the discussions said. The potential deal -- where OpenAI would sell existing company shares in a so-called tender offer -- could total $300 million, depending on how many employees agree to sell their stock, they said.

OpenAI, the research lab behind the viral ChatGPT chatbot, is in talks to sell existing shares in a tender offer that would value the company at around $29 billion, according to people familiar with the matter, making it one of the most valuable U.S. startups on paper despite generating little revenue. Venture-capital firms Thrive Capital and Founders Fund are in talks to invest in the deal, which would total at least $300 million in share sales, the people said. The deal is structured as a tender offer, with the investors buying shares from existing shareholders such as employees, the people said.

Wolters Kluwer Legal & Regulatory announced it has acquired Della AI Ltd., a provider of leading artificial intelligence (AI) technology based on advanced natural language processing (NLP). This technology allows legal professionals to review contracts in multiple languages by simply asking questions. Della AI will become part of the Legal Software unit of Wolters Kluwer Legal & Regulatory, which offers market-leading LegalTech solutions such as Legisway, all-in-one software for corporate legal departments, and Kleos, cloud-based legal practice management software for law firms. Giulietta Lemmi, CEO of Wolters Kluwer Legal & Regulatory Legal Software, commented: "By integrating the expertise and know-how of Della AI into Wolters Kluwer Legal & Regulatory, we are further enhancing the value we deliver to our customers, by investing in the continuous development of this key technology and the people behind it. Today, our customers already acknowledge the value of Legisway in all their legal activities. Together with Della AI, we will further enhance our customers' experience and secure a leading position for Wolters Kluwer in the corporate legal market."

Tredence, the Data Science and AI Solutions company, announced it has raised USD 175 million in Series B funding from Advent International (Advent) to accelerate data-fueled growth and AI value realization for industries. Advent is one of the largest and most experienced global private equity investors. The full financial terms of the agreement have not been disclosed. Advent will acquire a minority stake in Tredence with the $175 million investment. Advent has significant investment experience in the technology services and software sectors.

AMC Entertainment's (NYSE: AMC) stock fell sharply on Thursday, December 22, after the company announced a new $110 million capital raise. The movie theatre company stated the move would reduce its debt load and proposed a reverse stock split, which will require shareholder approval. With dramatic moves in the market, traders and investors remain interested in the meme stock as it maintains its position as one of the most trending stocks in the market. AMC's price started 2022 at $27.20, so currently, the price decreased by -84% from the beginning of the year. Notably, Coin Price Forecast, which uses data science and machine self-learning technology for stocks and cryptocurrencies, predicts that the AMC price at the end of 2022 will be $4.99 with a 13% rise to year-end.

Reliance has backed the Philadelphia-based AI and robotics startup Exyn, the Indian conglomerate disclosed in a stock exchange filing on Thursday, making further inroads in startup backings globally. Reliance Strategic Business Ventures, a wholly-owned subsidiary of Reliance Industries, has acquired a 23.3% stake in Exyn for $25 million, the Indian firm said. The Indian firm's investment is part of a larger $35 million Series B funding of the Philadelphia startup, which operates a robotic autonomy for complex, GPS-denied environments. Exyn's robots are able to autonomously navigate in previously inaccessible environments without a prior map, existing infrastructure (GPS, communications, etc.), or an operator in the loop," according to a description on its site. Reliance, which operates India's largest retail chain as well as the top telecom operator in the nation, said it will find synergies with the startup on the Indian conglomerate's initiatives surrounding drone, industrial safety, security and robotics areas, while accelerating "Exyn's product and technology development across multiple application areas and commercialization." The startup had a turnover of $4.32 million, $1.83 million and $0.16 million in CY 2021, CY 2020 and CY 2019 respectively, the Indian firm added. Reliance Industries, or one of its units, has made a series of investments this year, including hyperlocal delivery startup Dunzo and Google-backed Android lockscreen platform Glance. In March, Reliance Strategic Business Ventures said it planned to invest up to $221 million in U.S. electronics firm Sanmina to set up a joint venture as the Indian giant looks to expand its electronics manufacturing. The joint venture aims to create a "world-class" electronic manufacturing hub in India, the two said. Earlier on Thursday, Reliance said it had agreed to acquire the India unit of Metro AG for $344 million. Metro, which entered the Indian market nearly two decades ago, operates 31 wholesale distribution centers across the country. "With our mission of decreasing the amount of injuries and fatalities in'physical' industries gathering data in dangerous environments, having this investment will accelerate Exyn's impact and growth.