Coralogix, which analyzes software logs with AI, today announced $25 million in new funding and launched a real-time analytics solution that allows customers to pay according to data priority instead of volume. This allows them to get queries, alerts, and machine learning capabilities without using storage. About 50% of logging statements don't include any information about critical things like variable state at the time of an error, according to GitHub and OverOps surveys. That may be why developers spend an estimated half of their time on troubleshooting and bug-fixing. Founded in 2014, San Francisco-based Coralogix provides AI analytics solutions for a host of software development challenges.
Israeli startup SimilarWeb has made a name for itself with an AI-based platform that lets sites and apps track and understand traffic not just on their own sites, but those of its competitors. The startup has raised $120 million, funding it will use to continue expanding its platform both through acquisitions and investing in its own R&D, with a focus on providing more analytics services to larger enterprises alongside its current base of individuals and companies of all sizes that do business on the web. But not, it seems, necessarily an IPO at the moment. Co-led by ION Crossover Partners and Viola Growth, the round doubles the total amount that the startup has raised to date to $240 million. Offer said that it was not disclosing its valuation this time around except to say that his company is now "playing in the big pool."
Water quality and logistics monitoring software Ketos has raised $15 million from a group of investors to take advantage of the growing demand for better water management tools and technologies. The potential for more stringent regulatory oversight of industrial water use and wastewater management from local, state and federal government coupled with increasing consumer and investor demands for better corporate environmental stewardship is driving an unprecedented adoption of technology and services aimed at increasing conservation and reducing waste across industries. Water monitoring can also provide relevant information to public officials about the potential for disease outbreaks and other health related issues in a population. Recently, monitoring wastewater streams have been used to detect outbreaks of the virus that causes COVID-19. The renewed attention on water is one reason why an investment arm of the banking giant Citi joined lead investor Motley Fool Ventures and Illuminated Funds Group to come as new investors into Ketos.
Synthetaic is a startup working to create data -- specifically images -- that can be used to train artificial intelligence. Founder and CEO Corey Jaskolski's experience includes work with both National Geographic (where he was recently named Explorer of the Year) and a 3D media startup. In fact, he told me that his time with National Geographic made him aware of the need for more data sets in conservation. Well, Jaskolski said that he was working on a project that could automatically identify poachers and endangered animals from camera footage, and one of the major obstacles was the fact that there simply aren't enough existing images of either poachers (who don't generally appreciate being photographed) or certain endangered animals in the wild to train AI to detect them. He added that other companies are trying to create synthetic AI training data through 3D worldbuilding (in other words, "building a replica of the world that you want to have an AI learn in"), but in many cases, this approach is prohibitively expensive.
Tesla's autonomous driving package, known as Full Self Driving or FSD, is about to get pricier. Early Thursday, Tesla CEO Elon Musk announced that the price for the next-level Autopilot system is going up by $2,000. It's currently listed at $8,000 on the Tesla website. FSD is strange in that Tesla charges people for self-driving features that aren't available yet. Eventually, Musk envisions Tesla vehicles operating as robotaxis with no one at the steering wheel.
Most every organization has been thrust into the future of work. What will determine failure or success in this brave new world? Citrix's third quarter was better than expected as demand for its Workspace applications was strong amid remote work arrangements. CEO David Henshall said that Workspace demand should remain strong as work goes hybrid. The company reported third quarter revenue of $767 million, up 5% from a year ago.
Have a look at 2020's best robot vacuums -- all tried and tested in my office and home. The company is looking to become a smart home platform with the launch of its Genius Home Intelligence system. As previously reported, iRobot is looking to be more of a software platform for the smart home using data from its fleet of robots. For the third quarter, iRobot reported revenue of $413.1 million, up 43% from a year ago. Premium robot sales were up 86%.
The acquisition includes the Nand SSD business, the Nand component and wafer business, and the Dalian Nand memory manufacturing facility in China. Intel will however keep its distinct Intel Optane business. The companies hope to close the deal after receiving all of the necessary governmental approvals in late 2021. Under the agreement, SK hynix will first acquire the Nand SSD business (including NAND SSD-associated IP and employees), and the Dalian facility, with a first payment of USD 7 billion. SK hynix will acquire the remaining assets, including IP related to the manufacture and design of Nand flash wafers, R&D employees, and the Dalian fab workforce, upon final closing sometime in March 2025 with the remaining payment of USD 2 billion.
Investor demand for innovative emerging companies remains strong with Australian AI tech startup Tiliter completing a $7.5 million capital raise, led by Investec Emerging Companies (IEC). Eleanor Venture, a tech investment syndicate for angel investors, and New York's Cornell University also participated in the funding round. Tiliter is a leading artificial intelligence (AI) provider whose technology uses computer vision to recognise products without barcodes. Its technology automatically identifies items, such as fresh produce, without the need for barcodes, packaging, and price stickers, making it easier for shoppers to manage during self-checkout. Tiliter is currently focused on the Supermarket vertical and its camera and software system uses AI to pre-select items and remove the need for manual entry, with over 99% accuracy and in under one second.