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vertical farming company plenty undertakes restructuring process to support focus on premium strawberry market
Founders Future, a Paris-based VC firm, raises €250M to reach €1B in assets, expands globally with US office and new funds. Let’s dive deeper…
In today's ContentBuffer update:
Plenty files for bankruptcy, receives DIP financing
Founders Future raises €250M for growth and expansion
Trump Admin's War Plans Leak on Signal
n8n's AI tools gain popularity
Tornado Cash sanctions lifted by U.S. Treasury
Revel brings fast-charging network to Bay Area
5 new AI tools & 5 new AI jobs
More tech news
Latest Development
Agtech
Image source: TechCrunch
Summary: Plenty files for bankruptcy, receives $20.7 million in DIP financing; will focus on premium strawberry market
Key Points:
Plenty received a commitment for $20.7 million in debtor-in-possession financing as part of a proposed restructuring plan.
The company plans to continue operating its strawberry farm in Virginia and R&D center in Wyoming.
Since its inception, Plenty has raised nearly $1 billion in funding from various investors.
Why it matters: Plenty's bankruptcy filing highlights the challenges faced by vertical farming companies, which have been hard hit by bankruptcies in recent years
Venture Capital Funding
Image source: TechCrunch
Summary: Founders Future raises €250M, expands globally, and focuses on early-stage investments; aims to become a global company with European and American arms.
Key Points:
The fund will focus on early-stage investments in Europe and the US, with investment tickets ranging from $5 to $10 million.
Founders Future plans to open two offices in the US, one on the East Coast and another on the West Coast.
The firm aims to raise a growth fund focused on American investments, with an expected size of $250M.
Why it matters: This move signals Founders Future's ambition to become a global player in the venture capital industry, providing opportunities for European startups to expand into the US market.
National Security Breach
Image source: TechCrunch
Summary: The US dropped bombs on Yemen after an accidental text message leak by Trump administration officials, exposing sensitive war plans. The incident raises concerns about the security of government communications.
Key Points:
Jeffrey Goldberg received an accidental chat from national-security leaders discussing imminent war plans with Houthis in Yemen
Signal and other commercial tech platforms are not authorized for sharing sensitive information among government officials
The leak highlights a major breach in government communication protocols
Why it matters: The incident raises concerns about the security of government communications and highlights the importance of proper protocols to prevent sensitive information from being leaked.
Ai-in-coding
Image source: TechCrunch
Summary: AI coding trends merge; end-users demand practical uses; n8n's ease of use and usefulness seal the deal
Key Points:
The sudden uptake of n8n's AI-powered version is attributed to the convergence of AI coding trends
End-users are now demanding practical uses for AI
n8n's ease of use and usefulness have sealed the deal
Why it matters: The article highlights the significance of AI in developer tooling, showcasing how n8n's AI-powered version has gained popularity due to its ease of use and usefulness.
Fintech
Image source: TechCrunch
Summary: U.S. Treasury lifts sanctions on Tornado Cash after a legal battle. The company was previously accused of laundering $7 billion worth of stolen crypto from North Korean hackers. Despite this, the Treasury remains concerned about the threat of crypto hacks from the North Korean regime.
Key Points:
Tornado Cash was previously accused of laundering $7 billion worth of stolen crypto from North Korean hackers
The U.S. Treasury lifted sanctions on Tornado Cash after a legal battle
The company's founders were criminally charged in a New York federal court for conspiracy to launder money and sanctions violations
Why it matters: This decision highlights the ongoing challenges of regulating cryptocurrency and the need for effective measures to prevent financial crimes.
Transportation Technology
Image source: TechCrunch
Summary: Revel launches first West Coast charging station in San Francisco, with plans for over 125 chargers across the Bay Area. The company aims to bring reliable fast-charging to dense urban areas where EVs can have the biggest impact on quality of life.
Key Points:
Revel's San Francisco launch marks the beginning of its West Coast expansion, with plans to add more than 125 chargers in urban centers across the Bay Area over the next year.
The company's first West Coast charging station features 12 chargers with 320 kW capacity, built by EV charging company Kempower.
Revel has also secured a $60 million loan from New York's clean energy investment fund NY Green Bank to more than triple its fast-charging network in the city.
Why it matters: The expansion of Revel's fast-charging network could make it easier for residents to switch to electric vehicles, which are gaining popularity in the Bay Area with over 35% of new vehicle sales being electric.
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Unitor AI 💬 - Personal AI assistant for everyday tasks and friendly conversations
MapTiler - 🗺 Maps Search Engineer - Europe only
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Desia Limited - Backend Engineer (Data Platform)
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