Social capital is a means of bridging the gulf between people,places and events. Social media is a means of building social capital by providing a platform for effective networking, learning,e-commerce and partnerships. This platform can achieve much more by creation of community hubs,which will be micro environment influencing a set,then subset of a population thus creating a ripple effect of change in the communities,countries and world as a whole. Mark Zuckerberg says he wants Facebook users to start playing a similar role to pastors in churches, as he believes people can find a sense of purpose and support from Facebook.He recently announced a new mission for the social network, which is set to focus on growing groups and communities to "bring the world closer together". He believes the site can be used to unite what he sees as a "divided" society, and make users feel like they are "part of something bigger".
Bengaluru-based early-stage venture capital firm Inventus Capital Partners has announced the final close of its third fund at INR 369 Cr ($51.98 Mn). Samir Kumar of Inventus Capital Partners told ET that the third fund will make about 15 investments in total. The investment has come in from a mix of institutional investors, such as Small Industries Development Bank of India, family offices and technology entrepreneurs, including founders from its portfolio companies such as Phanindra Sama of redBus and Ramesh Emani of Insta Health. Inventus Capital was set up in 2007 and has been actively involved with investing in startups both in Silicon Valley and in India. It has invested in 65 US-based companies and 26 Indian companies.
TAIWAN-BASED technology firm CyCraft, which provides artificial intelligence (AI) solutions to enhance cybersecurity of businesses, on Friday announced a US$5.65 million fundraise in a Series B round. In total, CyCraft's total funding now amounts to US$8.15 million. Backers of this investment include Singapore-based investment company Pavilion Capital, and CID Group, an investment company based in Taiwan. Funds raised will propel the startup's research efforts in enhancing its AI technology and support market expansion in Asia. The firm has also formally launched SecOps Platform, an AI-driven platform which offers three variations of automated cybersecurity solutions.
A proprietary machine-learning platform has driven more than $100 million in portfolio-company investments for the venture capital firm EQT Ventures, according to numbers first seen by Axios. Why it matters: EQT Venture's home-brewed Motherbrain platform represents a notable effort to adapt machine learning to the failure-prone process of picking and choosing early-stage tech investments. How it works: Motherbrain monitors over 10 million companies and takes data from dozens of structured and unstructured sources to identify patterns that may be useful as EQT Ventures searches for possible investments. Among the companies discovered with Motherbrain's help is Standard Cognition, which develops AI-powered autonomous checkout technology. The bottom line: We often think of automation as outright replacing human jobs, but the Motherbrain platform is an example of another trend: augmenting how humans work.
Teikametrics, a leading SaaS provider of AI-powered optimization for brands and sellers on Amazon and Walmart, today announced the completion of a $15 million strategic funding round backed by new and existing investors. The announcement follows Teikametrics' selection as one of Walmart's first exclusive advertising optimization partners, and the addition of Srinivas Guddanti, a 14-year senior Amazon veteran, as its Chief Product Officer. Jump Capital led the round and were joined by follow-on investments from Granite Point Capital, MIT Professor of Econometrics, Jerry Hausman, and the former Head of Growth at Facebook and Uber, Ed Baker. "We're thrilled to lead this new round of capital in Teikametrics," said Michael McMahon, founding partner of Jump Capital. "The Company has grown rapidly, and the success of its proprietary AI technology for Amazon is a strong proof point for a broader ecommerce platform opportunity. The partnership with Walmart is a landmark event and we are excited to fund the expansion of the Teikametrics platform across multiple ecommerce channels."