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The UrbanTech Movement is Transforming Cities

Urbanization is a defining process of modern life.

More than half of the world’s population now lives in cities, and the number of urban citizens around the world is projected to rise to 66% by 2050.

In the US, over 80% of the population lives in urban areas with 1 in 7 Americans living in New York, Los Angeles and

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The post The UrbanTech Movement is Transforming Cities appeared first on The Gust Blog.

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Urbanization is a defining process of modern life.

More than half of the world’s population now lives in cities, and the number of urban citizens around the world is projected to rise to 66% by 2050.

In the US, over 80% of the population lives in urban areas with 1 in 7 Americans living in New York, Los Angeles and Chicago alone. From an economic perspective, the 259 largest cities in the United States generate about 85% of GDP. Recently, new “mega-metropolises” are taking shape in Asia, Latin America and Africa. Take China as one extreme example of the trend. As Lazaro Gamio wrote for Axios:

The scale and speed of urbanization in China has no parallel in human history. According to data from the United Nations, China’s urban population in 2000 was about 459 million. In 2015, it increased to about 780 million — that growth is equivalent to roughly the population of the United States moving from the countryside to large cities in the space of 15 years.

Without collaboration between leaders in the public and private sector, the rapid movement to cities will put enormous strain on urban infrastructure. Already, tech companies are having a significant impact on how people interact with the built environment around them. An oft-cited example of this would be the case of Lyft, Uber, and Tesla, companies bringing consumers into the future with better data and, in the near future, autonomous vehicles.

A Chart from the Economist showing the growing % of populations living in cities.

A Chart from the Economist showing the growing % of populations living in cities.

Already companies like Uber can take into account things like traffic signals and bus lanes, routing drivers so they don’t have to change lanes or zigzag across the street to pickup or drop-off riders, thereby increasing public safety and efficiency on streets. The company has also begun opening up some of its data to city leaders with Movement, which allows cities in on traffic patterns based on millions of Uber trips taken over time.

The coming changes with the introduction of autonomous cars will introduce countless second-order effects in urban areas that change the way people live. For instance, the US has roughly four times more parking spaces than vehicles and roughly 6,500 square miles dedicated to parking, a bigger area than the state of Connecticut. As driverless cars increase the number of shared vehicles and the amount of vehicle utilization, fewer parking spots will be needed.

How will cities re-allocate this space and how will startups make these spaces more useful to people within cities? What new modes of transportation have we not even thought about yet? And will startups work with governments to form public-private partnerships to integrate their services in this new reality?

Transportation is only one example of how technology will reshape cities. Long-term trends will drive innovation in other urban tech sectors in cities around the country. A few of these factors include:

  • The decreasing cost of innovation. While breakthrough innovations like self-driving car technology and gigafactories are still incredibly capital-intensive, seed stage founders can utilize other technologies, such as cloud computing, servers and hardware on a SaaS basis, APIs, and SDKs, to launch startups more cheaply and rapidly than ever before.
  • Tech-savvy civic workers. There are an increasing number of chief technology officers in city governments. These civic tech leaders are making sure that city data is open and available while integrating digital products into the core of municipal work. Cities are becoming more comfortable with collaborations with tech companies. A Canadian town just outsourced their transit system to Uber, which is the company’s first full ride sharing transit partnership. And forward-thinking mayors in cities like New Orleans and Berkeley are creating “resilience plans” to achieve sustainability goals. At the federal level, there are also promising initiatives, such as the Smart City Challenge.
  • Shifting market demand from residents and consumers. As IoT technology has improved, people who live in cities have increasingly come to expect smart, connected experiences to permeate throughout their lives. In addition, many unsolved problems related to property development, real estate management, water management, public safety, and more negatively impact the lives of regular people. Solutions to these problems have the potential to positively impact tens of millions of lives. As a result, startups that create compelling products to meet increasing consumer demand for UrbanTech will likely become juggernauts.
  • The moral imperative to respond to global warming. As humanity faces an existential test, tech founders are not relying on governments to save the day. Urban areas are the most vulnerable to climate change, and they are also responsible for over 70% of global emissions. Already, startups are building skyscrapers from sustainably managed forests, creating energy saving technology that adjusts temperature and lighting based on your presence in rooms, and creating gigafactories to wean the world off of fossil fuels.

As you can see, there are many exciting opportunities for startup founders interested in UrbanTech. VCs and angel investors have taken notice too. Venture capitalists invested approximately $2.7B in UrbanTech startups during 2016. That number stands to grow as founders create additional innovative UrbanTech companies. If you want to be part of the UrbanTech wave, you should start thinking about ideas for improving your city right now.
What is UrbanTech?

Dreamit UrbanTech Scales Startups That Make Cities Smarter

Here at Dreamit, we want to propel the startups who will make cities more efficient, liveable, and data-driven. With that in mind, we have built a customer network of construction companies, large real estate developers, and other corporate partners that are eager to work with startups on pilots and as potential customers.

We have partnered with Strategic Property Partners, a partnership between Cascade Investment, LLC (Bill Gates investment arm) and Jeff Vinik, to integrate startups into the redevelopment of downtown Tampa. SPP is rebuilding Tampa “from the ground up” and investing $3B into the downtown area to transform it into a connected, efficient, multi-use smart city. If your startup has a market-ready product to deploy in Tampa, our new “sandbox for innovation,” we want to speak to you.

Source: http://blog.gust.com/the-urban-tech-movement-is-transforming-cities/

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SK Hynix is buying Intel’s NAND business for $9 billion in an all-cash deal that would propel the South Korean chipmaker to second in the global rankings

Semiconductor giant Intel Corp has agreed to sell its NAND memory chip business to South Korean chipmaker SK Hynix for $9 billion in an all-cash deal. It is the biggest acquisition to date for SK Hynix and follows its $3.7 […]

The post SK Hynix is buying Intel’s NAND business for $9 billion in an all-cash deal that would propel the South Korean chipmaker to second in the global rankings appeared first on Tech News | Startups News.

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Semiconductor giant Intel Corp has agreed to sell its NAND memory chip business to South Korean chipmaker SK Hynix for $9 billion in an all-cash deal. It is the biggest acquisition to date for SK Hynix and follows its $3.7 billion investment in Japanese rival Kioxia in 2017. When finalized, the deal would propel the South Korean chipmaker to second in the global rankings, according to a report from Reuters.

Founded in 1983 as Hyundai Electric Industry, SK Hynix is the world’s second-largest memory chipmaker (after Samsung Electronics) and the world’s 3rd-largest semiconductor company. SK Hynix is also a memory semiconductor supplier of dynamic random-access memory (DRAM) chips and flash memory chips.

The move marks the latest effort by the U.S. chip giant to divest its non-core businesses, move away from the volatile commodity NAND chip industry and focus on its remaining Optane memory business, which is smaller but more lucrative because it taps more advanced technology.

SK Hynix has tried to boost its capacity to build NAND chips – used to store data in smartphones and data center servers – and beef up its pricing power. The deal will help SK Hynix overtake Kioxia in the NAND memory market while narrowing the gap with market leader Samsung Electronics Co

Sk Hynix memory is used by Apple in some of their iMac, MacBook, and MacBook Pro computers. Apple’s A9 chipset is on board together with an SK Hynix RAM module believed to be “likely the same 2 GB LPDDR4 mobile DRAM found in the iPhone 6s.

Sk Hynix memory is also used by Asus in their Google-branded Nexus 7 tablets. Sk Hynix is also an OEM provider for IBM System x servers, and is used in desktop PCs and laptops as well as the Asus Eee PC, Dell, and HP. Sk Hynix’s memory chips are also used in DVD players, cellular phones, set-top boxes, personal digital assistants, networking equipment, and hard disk drives.


Source: https://techstartups.com/2020/10/20/sk-hynix-buying-intels-nand-business-9-billion-cash-deal-propel-south-korean-chipmaker-second-global-rankings/

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Junio, A Kids Fintech Startup by Former Paytm Executives

Junio is a smart card that allows digital and physical purchases to kids. As per the website, the credit card imparts financial discipline to children. It is similar to FamPay (1), backed by Y-Combinator.   Moreover, parents can control the smart card via an app to make in-app task lists and tie them with perks. It […]

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Junio is a smart card that allows digital and physical purchases to kids. As per the website, the credit card imparts financial discipline to children. It is similar to FamPay (1), backed by Y-Combinator.  

Moreover, parents can control the smart card via an app to make in-app task lists and tie them with perks. It also allows instant fund transfer, notifications, and flexibility to cancel the card at any time with the app. 

The app may go live in the upcoming weeks from now, according to the sources. 

With Junio, Nath and Gera have also joined the list of former Paytm executives who have embarked on an entrepreneurial path. It includes Amit Bagaria, Amit Lakhotia, Saurabh Vashishtha, Deepak Abbot, Amit Sinha, and Nitin Misra. 

Amit Bagaria and Vashishtha have launched a social, commercial platform SimSim, whereas Amit Lakhotia has launched a parking app called Park+. Nitin Mishra and Deepak Abbot have launched a fintech app called Indiagold. Notably, these executives have made a massive fortune via the Paytm ESOPs. 

Junio is Set to Compete with FamPay in India in the kids’ Fintech Sector.

According to the sources, Nath and Gera are not looking to secure funds anytime soon.

Nath served Paytm as a CMO or Chief Marketing officer from December 2013 to November 2018, about five years. After departing from Paytm, he took leave for two years. At the same time, Gera spent more than four and a half years at the firm. 

Even though the kids-focused fintech sector is still at a nascent stage in the country, Junio is set to compete with FamPay backed by Sequoia. FamPay was launched in early 2019 and had already raised 4.7 million USD in a seed funding round led by Y-Combinator, Global Founders Capital, and Sequoia India. 

Several startups from the US and other western countries have evangelized kids-focused fintech and neo-banks. However, it is still a new concept in India. Greenlight, a startup based in Atlanta, USA, is one of space’s early entrants. It started smart cards that focused on kids in 2017 and has recently turned into a unicorn with 250 million USD capital from TTV Capital, Canapi Ventures, DST, and others. 

Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She’s currently working as a content writer and is always interested in a challenge.

Source: https://timesnext.com/junio-a-kids-fintech-startup-by-former-paytm-executives/

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SAIF Partners is Now Elevation Capital, Bags 400M USD

SAIF Partners has now rebranded itself as Elevation Capital (1) and raised 400 million USD in the new fund. Notably, it is the seventh funding for the firm for early-stage startups in India. Previously, it secured two funds, each worth of 350 million USD in size. Today, it is managing over 2 billion USD assets.  […]

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SAIF Partners has now rebranded itself as Elevation Capital (1) and raised 400 million USD in the new fund. Notably, it is the seventh funding for the firm for early-stage startups in India. Previously, it secured two funds, each worth of 350 million USD in size. Today, it is managing over 2 billion USD assets. 

The firm started investing in the startups of India 18 years ago after beginning its journey as a joint venture with Softbank. The first high-profile investment by the entity was Sify. 

While talking about the development, Ravi Adusumalli, the managing Partner of SAIF Partner, stated that the two firms’ joint venture ended decades ago. Hence, it is making a move to rebrand itself.

Notably, SAIF Partners has seven unicorns in its portfolio. It includes One97, the parent firm of Paytm, Communications, Swiggy, and Unacademy

SAIF Partners Continues to Make Commitments Amid Rebranding Itself

Adusumalli further added that the elevation indicates the investment ethos and re-emphasize the team’s commitment towards founders to redefine our future. Moreover, it is also a commitment to our partners for continued collaborations. With the rebranding, the group promises to do everything they can to achieve incredible lengths from day one. 

It is worth noting that SAIF Partners has backed over 100 startups since its inception. The firm makes long-term chances with founders and backs early-stage startups when securing their pre-seed, seed, pre-series A, and Series A fundraise. 

Moreover, the venture invests in a broad range of sectors and is looking to continue its strategy to add more interest areas, stated the Managing Director of Elevation Capital, Deepak Gaur. 

Deepak added that the firm is spending a lot of resources on SaaS enterprises. The team believes that many global companies would emerge from India in this sector. 

SAIF Partners has over 15 startups in its portfolio, estimated to become a unicorn in the upcoming years. It includes Urban Company, Acko, Capital Float, and NoBroker. Besides, several startups backed by SAIF Partners such as IndiaMART, JustDial, MakeMyTrip have already become publicly listed companies.   

Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She’s currently working as a content writer and is always interested in a challenge.

Source: https://timesnext.com/saif-partners-is-now-elevation-capital-bags-400m-usd/

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