Oprah’s smart oven + Kim Kardashian’s meat
A weekly selection of news and investment opportunities from OurCrowd, the global venture investing platform
Startup of the Week
Convizit: Making user experience a snap?
Millions of applications are driven by software tools that understand and improve customers’ digital experience, but capturing the relevant data isn’t easy.?Every action needs to be manually recorded, which is an expensive and inefficient proposition. Our portfolio company?Convizit uses a suite of AI technologies to automatically capture and understand each user event on every webpage. The company’s machine-learning platform understands how consumers see webpages and improves its automatic-tagging abilities over time while automatically adapting to website changes. E-commerce and SaaS companies spend $80B a year on digital-experience data tools, and Convizit has already deployed its system with select clients. Some of the biggest companies in the world are knocking at its door. OurCrowd is raising up to $5M in this ongoing investment round.
Letter from Davos: FoodTech steps up to the plate
Writing from Davos, OurCrowd CEO Jon Medved found two major issues dominating the agenda at the World Economic Forum: the rapid acceleration of climate change and the threat of global inflation-starvation, exacerbated by Russia’s invasion of Ukraine. Faced with a worldwide food shortage predicted to leave millions starving, OurCrowd is investing in a basket of FoodTech startups, ready to step up to the plate with innovative technologies that can help avert the crisis and feed our future. Read more in his latest ‘Investors on the Frontlines’ column.
Why Oprah loves Tovala’s smart oven
The smart oven from our portfolio company Tovala was included in Oprah Winfrey’s Favorite Things List 2021, “and for good reason,” Entertainment Tonight reports. “It’s a convenient smart toaster oven that uses steam and heat to cook food quickly,” and features proprietary technology that lets users scan the barcodes of more than 800 prepared foods to start cooking. For those who want to take the guesswork and hassle out of cooking, Tovala offers meal plans that are delivered weekly to the customer’s door, and can be popped into the oven with less than a minute of preparation. The company’s app sends an alert when the food is cooked. Tovala is currently funding on the OurCrowd platform.
Forbes reveals Mermade’s cultivated seafood secret
OurCrowd’s FoodTech pioneer Mermade Seafoods has revealed that algae is the “secret sauce” behind its promise to make cultured meat and seafood a commercial reality, starting with the sustainable mass production of scallops, Gil Press reports in Forbes. The company uses algae to slash the price of the nutrient-rich soup in which cells are grown. This could be a game changer because the high cost of the growth media has made alternative proteins prohibitively expensive. “Our technology is relevant to any cell fermentation process, including in pharma,” says CEO Daniel Einhorn, estimating that Mermade’s technique can reduce the cost of producing cell-based protein by a factor of 10,000. Mermade is now funding on the OurCrowd website.?
Stream now: Investing in the Circular Economy
OurCrowd’s online event ‘Investing in the Circular Economy: From Trash to Cash’ brought together entrepreneurs and executives to discuss how repurposing can help stem?devastating impacts on the environment. Startups are at the forefront of this paradigm shift, deploying cutting-edge technology in FoodTech, renewable energy and other sectors to implement the vital practice of reduce, reuse and recycle to help assure a greener future. Guests included the CEOs of Maolac, Mermade Seafoods, Connected Energy and HomeBiogas. Stream the full event here.
Microsoft picks Maolac and Trellis for AI program
Microsoft for Startups Israel has chosen two OurCrowd portfolio companies for the third AI For Good Accelerator Program, Calcalist reports. Maolac and Trellis are among a select group of 15 startups that will receive individual mentorship guidance for business and technological development, access to Microsoft’s advanced tools, and opportunities to establish connections with potential customers, investors and more. Microsoft for Startups has supported more than 1,000 companies so far. Maolac and Trellis are currently raising on the OurCrowd platform.?
New York State to hand out 800+ ElliQ robots to elderly
In one of the largest in-home deployments of advanced intelligent robots in history, the State of New York will distribute more than 800 ElliQ digital companions made by our portfolio company Intuition Robotics to older adults coping with social isolation, The New York Post reports. ElliQ proactively engages its users, helping to contact loved ones and keeping track of their well being. “Many features attracted us to ElliQ. It focuses on what matters to individuals: memories, life validation, interactions with friends and families, and promotes overall good health and well being,” says Greg Olsen, Director of the New York State Office for the Aging, which is organizing the program.?
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Beyond Meat bites back as trolls skewer Kim Kardashian’s ‘fake chewing’?
Beyond Meat (NASDAQ: BYND) is trying to turn the tables on social media trolls who accused Kim Kardashian of “fake chewing” in a video promoting the plant-based burgers. Critics skewered Kardashian for apparently not actually taking a bite out of the OurCrowd portfolio company’s products in the commercial celebrating her appointment as its Chief Taste Consultant, the TODAY Show reports. “Of course, she eats Beyond Burgers (and Beyond Chicken Tenders and Beyond Sausages…) in real life and on set. That’s just one of the reasons why we love her,” said a statement from the company, which approached Kardashian after she praised its products. “I’ve been focusing on going more plant-based and can tell you that Beyond Meat is my absolute favorite,” Kardashian says. “I love how all their products not only taste amazing but are also good for me and my family. Plus, my kids are obsessed with my Beyond Beef taco recipe, the Beyond Burger for BBQs and Beyond Chicken Tenders for a quick snack. As my fans know, my fridge and freezer are fully stocked with Beyond Meat’s products.”
Taranis gives farmers a down-to-earth view of crops from above
Farmer Dave Chance regularly walks his Indiana fields, scouting for problems that can damage his crops. But these days he’s doing it less, because he uses drones from our portfolio company Taranis to do that for him, The Republic reports. Taranis uses AI to comb through satellite imagery and extremely high-resolution field photos taken during drone overflights to identify threats. “We didn’t really see a whole lot going on,” Chance says. But the drones picked up on an outbreak of weeds in one corner of his property which was quickly solved with precise application of herbicide, ending the problem and saving Chance Farms a considerable amount of money.
Arcadia acquires world’s largest utility data provider, raises $200M?
Our portfolio company Arcadia has acquired Urjanet, the largest utility data provider in the world. The integration of both companies is designed to help customers take a big step toward a zero-carbon energy economy. Access to Arcadia's upgraded Arc platform will allow businesses to meet sustainability goals by connecting them with clean-energy providers. Its data coverage includes more than 95% of residential and commercial accounts in the US, and more than 9,500 electric, gas, water, waste and other utilities in 52 countries. The acquisition comes on the heels of a recently completed $200M raise led by J.P. Morgan Asset Management's Sustainable Growth Equity Team, the Wall Street Journal reports.
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About this Newsletter
Startup Beat?is a weekly selection of news and investment opportunities from?OurCrowd, the global venture investing platform.
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OurCrowd is a global venture investing platform. To date we have raised more than $1.8 billion, we have 203,000 registered investors, 336 portfolio companies, 37 venture funds and 57 exits.
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