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Bridging the gap between research and the classroom

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In a moment more reminiscent of a Comic-Con event than a typical MIT symposium, Shawn Robinson, senior research associate at the University of Wisconsin at Madison, helped kick off the first-ever MIT Science of Reading event dressed in full superhero attire as Doctor Dyslexia Dude — the star of a graphic novel series he co-created to engage and encourage young readers, rooted in his own experiences as a student with dyslexia. 

The event, co-sponsored by the MIT Integrated Learning Initiative (MITili) and the McGovern Institute for Brain Research at MIT, took place earlier this month and brought together researchers, educators, administrators, parents, and students to explore how scientific research can better inform educational practices and policies — equipping teachers with scientifically-based strategies that may lead to better outcomes for students.

Professor John Gabrieli, MITili director, explained the great need to focus the collective efforts of educators and researchers on literacy.

“Reading is critical to all learning and all areas of knowledge. It is the first great educational experience for all children, and can shape a child’s first sense of self,” he said. “If reading is a challenge or a burden, it affects children’s social and emotional core.”

A great divide

Reading is also a particularly important area to address because so many American students struggle with this fundamental skill. More than six out of every 10 fourth graders in the United States are not proficient readers, and changes in reading scores for fourth and eighth graders have increased only slightly since 1992, according to the National Assessment of Education Progress.

Gabrieli explained that, just as with biomedical research, where there can be a “valley of death” between basic research and clinical application, the same seems to apply to education. Although there is substantial current research aiming to better understand why students might have difficulty reading in the ways they are currently taught, the research often does not necessarily shape the practices of teachers — or how the teachers themselves are trained to teach. 

This divide between the research and practical applications in the classroom might stem from a variety of factors. One issue might be the inaccessibility of research publications that are available for free to all — as well as the general need for scientific findings to be communicated in a clear, accessible, engaging way that can lead to actual implementation. Another challenge is the stark difference in pacing between scientific research and classroom teaching. While research can take years to complete and publish, teachers have classrooms full of students — all with different strengths and challenges — who urgently need to learn in real time.

Natalie Wexler, author of “The Knowledge Gap,” described some of the obstacles to getting the findings of cognitive science integrated into the classroom as matters of “head, heart, and habit.” Teacher education programs tend to focus more on some of the outdated psychological models, like Piaget’s theory of cognitive development, and less on recent cognitive science research. Teachers also have to face the emotional realities of working with their students, and might be concerned that a new approach would cause students to feel bored or frustrated. In terms of habit, some new, evidence-based approaches may be, in a practical sense, difficult for teachers to incorporate into the classroom.

“Teaching is an incredibly complex activity,” noted Wexler.

From labs to classrooms

Throughout the day, speakers and panelists highlighted some key insights gained from literacy research, along with some of the implications these might have on education.

Mark Seidenberg, professor of psychology at the University of Wisconsin at Madison and author of “Language at the Speed of Sight,” discussed studies indicating the strong connection between spoken and printed language. 

“Reading depends on speech,” said Seidenberg. “Writing systems are codes for expressing spoken language … Spoken language deficits have an enormous impact on children’s reading.”

The integration of speech and reading in the brain increases with reading skill. For skilled readers, the patterns of brain activity (measured using functional magnetic resonance imaging) while comprehending spoken and written language are very similar. Becoming literate affects the neural representation of speech, and knowledge of speech affects the representation of print — thus the two become deeply intertwined. 

In addition, researchers have found that the language of books, even for young children, include words and expressions that are rarely encountered in speech to children. Therefore, reading aloud to children exposes them to a broader range of linguistic expressions — including more complex ones that are usually only taught much later. Thus reading to children can be especially important, as research indicates that better knowledge of spoken language facilitates learning to read.

Although behavior and performance on tests are often used as indicators of how well a student can read, neuroscience data can now provide additional information. Neuroimaging of children and young adults identifies brain regions that are critical for integrating speech and print, and can spot differences in the brain activity of a child who might be especially at-risk for reading difficulties. Brain imaging can also show how readers’ brains respond to certain reading and comprehension tasks, and how they adapt to different circumstances and challenges.

“Brain measures can be more sensitive than behavioral measures in identifying true risk,” said Ola Ozernov-Palchik, a postdoc at the McGovern Institute. 

Ozernov-Palchik hopes to apply what her team is learning in their current studies to predict reading outcomes for other children, as well as continue to investigate individual differences in dyslexia and dyslexia-risk using behavior and neuroimaging methods.

Identifying certain differences early on can be tremendously helpful in providing much-needed early interventions and tailored solutions. Many speakers noted the problem with the current “wait-to-fail” model of noticing that a child has a difficult time reading in second or third grade, and then intervening. Research suggests that earlier intervention could help the child succeed much more than later intervention.

Speakers and panelists spoke about current efforts, including Reach Every Reader (a collaboration between MITili, the Harvard Graduate School of Education, and the Florida Center for Reading Research), that seek to provide support to students by bringing together education practitioners and scientists. 

“We have a lot of information, but we have the challenge of how to enact it in the real world,” said Gabrieli, noting that he is optimistic about the potential for the additional conversations and collaborations that might grow out of the discussions of the Science of Reading event. “We know a lot of things can be better and will require partnerships, but there is a path forward.”


Source: http://news.mit.edu/2019/bridging-gap-between-research-classroom-science-of-reading-0627

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The four biggest challenges facing the payments industry right now

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We all know that 2020 was an unusual and challenging year for everyone and as much as we would have all wished that things could have gone back to normal the second the clock struck midnight on the 31 December, that has unfortunately not been the case. Most industries and businesses continue to face a number of challenges, some carried over from last year and others new to 2021. The payments industry is no exception to this. In difficult times it is even more important to understand our key challenges, so we are able to manage and overcome them.

To support that end, from my own experiences through 2020 and in 2021 so far, I have outlined the four biggest challenges I see for the payments industry and my thoughts on how to approach them.

Uncertainty

The biggest challenge facing payment providers this year is the continuing and over-riding state of uncertainty in the short term, but also for the medium to longer term. This isn’t limited to fintech and payments either, the past 12 months have been difficult for businesses in most sectors. This especially causes a problem for businesses as to how they manage the immediate and short-term challenges they are facing, while at the same time retaining focus on their medium- and longer-term planning and strategy.

Making decisions that protect the business in the short term and to adapt to the current situation can often be at odds with longer term goals. Increased uncertainty around for example, changes in customer behaviour and preferences, rules and regulations, and the economic outlook, adds a further layer of complexity for payments businesses in making strategic decisions.

Moreover, it would seem the current state of uncertainty may persist for some time. This combined with us being to a greater extent in ‘unchartered waters’ makes it even harder to forecast the future. With the struggles that COVID-19 has brought upon us, customer shopping behaviour has been forced to change and organisations have had to work hard to keep up with changing demands and requirements.

This has led to many businesses having to completely rethink their plans for the year and change much of their existing business model, which in turn has a knock-on effect to their business partners such as payment providers. Uncertainty as to whether the shift in customer preferences reflects a permanent change, or whether they will revert back to ‘normal’, once the pandemic is over, adds further difficulty in maintaining a balance between pursuing short-term initiatives and long-term initiatives – and deciding which of those to pursue. The past is not a reliable indicator of the future is probably now an even truer statement than ever. 

Uncertainty does however bring opportunity, and it is often challenges and uncertainty which drive forward leaps in innovation too. Businesses need to remain proactive in these times by staying up to date with industry developments, emerging customer trends and having a close eye on any new opportunities that may arise.

A business that manages to remain focused on its medium- and longer-term goals as well as its short-term challenges and which can remain nimble and flexible in its responses to the current uncertainty, has the best chances to be able to spot and take advantage of opportunities quickly. To do this, businesses need to keep their operations constantly under review and make changes decisively to adapt to the current climate as they push forward with their plans and development.

Regulation

Regulations are also likely to see a further overhaul in 2021. Following on from the ongoing legacy of the Wirecard scandal, regulators worldwide will certainly want to avoid any similar high profile and catastrophic collapses happening within the payments industry again. As a result, regulators are likely to introduce tougher and stricter regulations to keep customer funds safe and to protect the wider financial system.

Most of us would recognise that regulations are a good and necessary thing for the industry but changes in regulation can often present a challenge from a business perspective. This challenge can present itself through assessing the new requirements, through to deploying them and the potential additional time and resources required to ensuring ongoing compliance is achieved and maintained.

Key to successfully ensuring compliance with current regulatory requirements and making changes to meet changes in regulation, is to ensure the requirements are fully understood by the business. Where there is any doubt, it is always worthwhile seeking external advice which can help the business make the required changes and ensure compliance more quickly and can often be more cost effective in the long run.

It is also worthwhile receiving the regular update bulletins from regulators, which can help the business anticipate when new regulations will be announced and can help in understanding the updated requirements and what is required for the business to remain compliant.

Overall, there is a need for business to maintain investment in its compliance function to ensure this is fit-for-purpose and is effective in ensuring ongoing compliance with all current and emerging regulatory requirements. 

Fraud

Fraud remains a key challenge facing the payment industry, as well as an issue which can have a significant impact on both businesses more broadly and end consumers. Financial crime has seen an increasing trend in recent years and is one that is constantly evolving as criminals continue to get more sophisticated and more inventive with their approaches. In parallel new fraud prevention and detection methods and techniques have been developed and deployed. But this is a constantly changing game, with criminals adopting new strategies and the payment industry and other financial institutions deploying increasingly sophisticated techniques to stop them.

COVID-19 has created some degree of additional risk of fraud, thanks to an increase in online shopping including shoppers who have never previously shopped online in the past and are perhaps less familiar will some of the more obvious signs to be wary of. Criminals are all too aware of this and are happy to use this situation to their advantage.

Unfortunately, there is currently no way to full eradicate the risk of fraud. Payment providers continue to develop more sophisticated fraud prevention and detection tools to reduce the incidence. AI and other automated tools offer increasing levels of fraud detection – but at the same time criminals are also using new and more sophisticated techniques to try to avoid detection.

The best way to win in the battle against cybercrime and fraud is to ensure that all businesses have robust and effective controls in place, whether these are around access to data, protection of physical assets such as laptops, or measures to prevent unauthorised access to the business’s IT network and system. This is particularly important for any business that holds customer personal data or payment card information, where the business must ensure this data is fully protected to remain compliant with regulations and to avoid the risk of a costly and reputationally damaging breach.

Brexit

The fourth challenge for the payments industry, and for services industries more broadly, has been Brexit. This has been a cause of uncertainty since the outcome of the vote in 2016, not just for businesses operating in, or trading with, the UK but for the country in general. A big fear for many working in the financial services industry was a no deal Brexit along with a loss of access to the European Economic Area (EEA) “passport” for financial institutions based and regulated in the UK.

While the agreement of a trade deal is in my view a better outcome than a ‘no deal’ Brexit, it is disappointing that this did not extend to providing any real certainty for the financial services industry, other than a loss of ‘passporting rights’ and only a verbal agreement at the time the deal was announced that the EU and UK government would continue discussions in 2021 around some form of ‘Equivalence’.

The current situation therefore creates ongoing additional complexity, cost and operational effort for many financial services firms – in addition to the huge industry cost and effort of preparing for the risk of a loss of passporting rights over the past 4 years. While the UK has extended ongoing rights to EU-based firms to operate in the UK, these rights have not so far been extended by the EU to UK-based firms.

Financial services companies along with industry bodies continue to lobby for UK firms who are FCA regulated to be able to operate EEA markets, as they did previously. Currently though, it is unclear if, or when, the EU might extend these additional rights to UK-based firms. In the meantime, UK-regulated businesses have had to adopt alternative ways to work with their European partners and customers.

Clearly there is a hope that there would be movement going forward to allow UK-based and regulated firms to operate in the EU, and we are beginning to see steps towards this with the technology visa that was mentioned in the UK spring budget, but this will most definitely be a situation where we will need to wait and see.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.fintechnews.org/the-four-biggest-challenges-facing-the-payments-industry-right-now/

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Artificial Intelligence

The four biggest challenges facing the payments industry right now

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Published

on

We all know that 2020 was an unusual and challenging year for everyone and as much as we would have all wished that things could have gone back to normal the second the clock struck midnight on the 31 December, that has unfortunately not been the case. Most industries and businesses continue to face a number of challenges, some carried over from last year and others new to 2021. The payments industry is no exception to this. In difficult times it is even more important to understand our key challenges, so we are able to manage and overcome them.

To support that end, from my own experiences through 2020 and in 2021 so far, I have outlined the four biggest challenges I see for the payments industry and my thoughts on how to approach them.

Uncertainty

The biggest challenge facing payment providers this year is the continuing and over-riding state of uncertainty in the short term, but also for the medium to longer term. This isn’t limited to fintech and payments either, the past 12 months have been difficult for businesses in most sectors. This especially causes a problem for businesses as to how they manage the immediate and short-term challenges they are facing, while at the same time retaining focus on their medium- and longer-term planning and strategy.

Making decisions that protect the business in the short term and to adapt to the current situation can often be at odds with longer term goals. Increased uncertainty around for example, changes in customer behaviour and preferences, rules and regulations, and the economic outlook, adds a further layer of complexity for payments businesses in making strategic decisions.

Moreover, it would seem the current state of uncertainty may persist for some time. This combined with us being to a greater extent in ‘unchartered waters’ makes it even harder to forecast the future. With the struggles that COVID-19 has brought upon us, customer shopping behaviour has been forced to change and organisations have had to work hard to keep up with changing demands and requirements.

This has led to many businesses having to completely rethink their plans for the year and change much of their existing business model, which in turn has a knock-on effect to their business partners such as payment providers. Uncertainty as to whether the shift in customer preferences reflects a permanent change, or whether they will revert back to ‘normal’, once the pandemic is over, adds further difficulty in maintaining a balance between pursuing short-term initiatives and long-term initiatives – and deciding which of those to pursue. The past is not a reliable indicator of the future is probably now an even truer statement than ever. 

Uncertainty does however bring opportunity, and it is often challenges and uncertainty which drive forward leaps in innovation too. Businesses need to remain proactive in these times by staying up to date with industry developments, emerging customer trends and having a close eye on any new opportunities that may arise.

A business that manages to remain focused on its medium- and longer-term goals as well as its short-term challenges and which can remain nimble and flexible in its responses to the current uncertainty, has the best chances to be able to spot and take advantage of opportunities quickly. To do this, businesses need to keep their operations constantly under review and make changes decisively to adapt to the current climate as they push forward with their plans and development.

Regulation

Regulations are also likely to see a further overhaul in 2021. Following on from the ongoing legacy of the Wirecard scandal, regulators worldwide will certainly want to avoid any similar high profile and catastrophic collapses happening within the payments industry again. As a result, regulators are likely to introduce tougher and stricter regulations to keep customer funds safe and to protect the wider financial system.

Most of us would recognise that regulations are a good and necessary thing for the industry but changes in regulation can often present a challenge from a business perspective. This challenge can present itself through assessing the new requirements, through to deploying them and the potential additional time and resources required to ensuring ongoing compliance is achieved and maintained.

Key to successfully ensuring compliance with current regulatory requirements and making changes to meet changes in regulation, is to ensure the requirements are fully understood by the business. Where there is any doubt, it is always worthwhile seeking external advice which can help the business make the required changes and ensure compliance more quickly and can often be more cost effective in the long run.

It is also worthwhile receiving the regular update bulletins from regulators, which can help the business anticipate when new regulations will be announced and can help in understanding the updated requirements and what is required for the business to remain compliant.

Overall, there is a need for business to maintain investment in its compliance function to ensure this is fit-for-purpose and is effective in ensuring ongoing compliance with all current and emerging regulatory requirements. 

Fraud

Fraud remains a key challenge facing the payment industry, as well as an issue which can have a significant impact on both businesses more broadly and end consumers. Financial crime has seen an increasing trend in recent years and is one that is constantly evolving as criminals continue to get more sophisticated and more inventive with their approaches. In parallel new fraud prevention and detection methods and techniques have been developed and deployed. But this is a constantly changing game, with criminals adopting new strategies and the payment industry and other financial institutions deploying increasingly sophisticated techniques to stop them.

COVID-19 has created some degree of additional risk of fraud, thanks to an increase in online shopping including shoppers who have never previously shopped online in the past and are perhaps less familiar will some of the more obvious signs to be wary of. Criminals are all too aware of this and are happy to use this situation to their advantage.

Unfortunately, there is currently no way to full eradicate the risk of fraud. Payment providers continue to develop more sophisticated fraud prevention and detection tools to reduce the incidence. AI and other automated tools offer increasing levels of fraud detection – but at the same time criminals are also using new and more sophisticated techniques to try to avoid detection.

The best way to win in the battle against cybercrime and fraud is to ensure that all businesses have robust and effective controls in place, whether these are around access to data, protection of physical assets such as laptops, or measures to prevent unauthorised access to the business’s IT network and system. This is particularly important for any business that holds customer personal data or payment card information, where the business must ensure this data is fully protected to remain compliant with regulations and to avoid the risk of a costly and reputationally damaging breach.

Brexit

The fourth challenge for the payments industry, and for services industries more broadly, has been Brexit. This has been a cause of uncertainty since the outcome of the vote in 2016, not just for businesses operating in, or trading with, the UK but for the country in general. A big fear for many working in the financial services industry was a no deal Brexit along with a loss of access to the European Economic Area (EEA) “passport” for financial institutions based and regulated in the UK.

While the agreement of a trade deal is in my view a better outcome than a ‘no deal’ Brexit, it is disappointing that this did not extend to providing any real certainty for the financial services industry, other than a loss of ‘passporting rights’ and only a verbal agreement at the time the deal was announced that the EU and UK government would continue discussions in 2021 around some form of ‘Equivalence’.

The current situation therefore creates ongoing additional complexity, cost and operational effort for many financial services firms – in addition to the huge industry cost and effort of preparing for the risk of a loss of passporting rights over the past 4 years. While the UK has extended ongoing rights to EU-based firms to operate in the UK, these rights have not so far been extended by the EU to UK-based firms.

Financial services companies along with industry bodies continue to lobby for UK firms who are FCA regulated to be able to operate EEA markets, as they did previously. Currently though, it is unclear if, or when, the EU might extend these additional rights to UK-based firms. In the meantime, UK-regulated businesses have had to adopt alternative ways to work with their European partners and customers.

Clearly there is a hope that there would be movement going forward to allow UK-based and regulated firms to operate in the EU, and we are beginning to see steps towards this with the technology visa that was mentioned in the UK spring budget, but this will most definitely be a situation where we will need to wait and see.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.fintechnews.org/the-four-biggest-challenges-facing-the-payments-industry-right-now/

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Machine Learning enabled Insig AI, which Serves Asset Managers, Lists on AIM London Stock Exchange

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Insig AI, an AI and machine learning firm serving the asset management sector, has officially introduced its services (May 10, 2021), after the company’s listing on the AIM London Stock Exchange.

Insig AI is a data science and machine learning (ML) solutions provider that offers various web-based apps, sophisticated analytical software, and advanced tech infrastructure so that machine learning algorithms become more accessible to investors.

The Insig AI product suite has been developed to streamline a fund manager’s data infrastructure and enhance their ML capabilities in order to provide actionable and measurable results.

Insig AI has created a range of “out of the box” products that enable investors by allowing them to interact with, and experience their data in a manner they’ve never done before.

The products include:

  • Insig Portfolio – a multi-asset data-science and ML platform developed to improve investment strategies and enable portfolio interrogation and performance attribution while offering actionable and explainable results.
  • Insig ESG – A special tool for creating and running a data-driven ESG investing strategy; offering credible, transparent and evidence-based scoring based on standard or bespoke methodologies.
  • Insig Data – A data transformation tool for cleaning, structuring and categorizing proprietary and third-party data to allow for ML and various other data analytics via Insig or customer apps.
  • Insig Docs – A microservice app that “intelligently” extracts, tags and stores document-based and unstructured data using text extraction and elastic database tech.
  • Insig Exceleton – A tool that converts complex Excel spreadsheets into Python code, thus supporting a fast transition to a modern, ML and data analytics-powered strategy.

The Admission Highlights are as follows:

  • Managed to acquire £6.1 million (before accounting for expenses) through a “placing of 9,172,375 new ordinary shares at 67 pence per share, a 14 percent. premium to the closing share price of the Company of 59 pence per share on 2 September 2020, being the last business day before the Company’s ordinary shares were suspended from trading.”
  • Customer results reportedly show how beneficial or useful Insig AI’s products and services are. One customer’s fund managed to outperform the MSCI World benchmark by as much as 30 percentage points, meanwhile, another has reported a 25% reduction in operational costs.

Previously doing business as Insight Capital, Insig AI’s tech stack has been developed by a multi-disciplined and diverse group of data scientists, consultants, and fund managers.

The firm is being led by Executive Chairperson Matthew Farnum-Schneider, and CEO Steven Cracknell.

Insight Capital was established by Steve Cracknell and CTO Warren Pearson. They previously worked at Goldman Sachs during the 2000’s and then also in 2013 when they led an ML firm in Silicon Valley.

After coming back to London in 2017, they launched Insight to implement various products for fund managers.

Steve Cracknell, CEO at Insig AI Plc, remarked:

“Insig AI will allow investment professionals to keep up with the benefits of modern technology and turbocharge their data science and machine learning capabilities. A core feature of our products is that they are not ‘black boxes’. All outputs are both explainable and transparent – allowing portfolio managers to dig down into the results and methodologies at every step. This approach enables clients to confidently transition to a data-centric business model, advance and scale their analytical potential and gain value, speed and strategic leverage. As we grow and launch future AI and machine learning products, we will continue to give asset managers the edge needed to beat markets and competitors.”

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/05/175157-machine-learning-enabled-insig-ai-which-serves-asset-managers-lists-on-aim-london-stock-exchange/

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Lidar startup Innovusion closes $64M round led by Temasek

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More investors are joining the wave to bet on lidar, the remote sensing method that uses laser light to measure distances and has garnered ample interest from automakers in recent times. But it’s also a technology that has long been scorned by Elon Musk partly due to its once exorbitant costs.

Innovusion, a five-year-old lidar company and a supplier to Chinese electric car upstart Nio, just landed a Series B funding round of $64 million. The new proceeds boost its total investment to over $100 million, not a small amount but the startup is in a race crowded with much bigger players that have raised hundreds of millions of dollars, like Velodyne and Luminar.

Temasek, the Singaporean government’s sovereign wealth fund, led Innovusion’s latest financing round. Other investors included Bertelsmann Asia Investment Fund, Joy Capital, Nio Capital, Eight Roads Ventures, and F-Prime Capital.

Innovusion runs core development teams out of Sunnyvale, California and Suzhou, an eastern Chinese city near Shanghai that the robotaxi unicorn Momenta also calls home.

Junwei Bao, Innovusion’s co-founder and CEO, is not deterred by the industry’s existing giants. Back at Baidu where Bao oversaw sensors and onboarded computing systems for autonomous driving, he also worked on the Chinese search engine leader’s investment in Velodyne.

“They were designing things more like a college student designing in their labs,” Bao said of Velodyne.

Lidar was a niche market up until about five years ago, the founder explained, for the technology was mostly used by a small community of amateurs and areas such as military, surveying and mapping. These were relatively small markets in terms of shipping volume and Velodyne filled the demand.

“They were not thinking about industrialization, volume manufacturing, or roadmap extensibility. They were a pioneer and we [Baidu] recognized their value… but we also knew their weakness.”

In fairness, Silicon Valley-based Velodyne today is a $2.2 billion company supplying to some of the world’s largest automakers, including Toyota and Volkswagen. It also pocketed a hefty sum of cash after going public via a SPAC merger last year. Innovusion’s strategy is to make sensors for automakers that are “good enough for the next five years,” according to Bao. The startup chooses “mature components” so it can quickly ramp up production to 100,000 units a year.

Its biggest customer at the moment is Nio, a Chinese challenger to Tesla which has backed Innovusion through its corporate venture fund Nio Capital. For mass production of its auto-grade lidar, Innovusion is partnering with Joynext, a smart vehicle arm of the Chinese auto component supplier, Joyson Electronics.

For now, China is the largest market for Innovusion. The startup is scheduled to ship a few thousand units this year, mainly for smart transportation and industrial use. Next year, it has a target to deliver several tens of thousands of units to Nio’s luxury sedan, ET7, which is said to have a scanning range of up to 500 meters, an ambitious number, and a standard 120-degree field of view.

Similar alliances between carmakers and lidar suppliers have played out in China as the former race to fulfill their “autonomous driving” promises with the aid of lidar. Xpeng, a competitor to Nio, recently rolled out a sedan powered by Livox, a lidar maker affiliated with DJI that markets its consumer-grade affordability.

Price is similarly important to Innovusion, which sells lidars to automakers for about $1,000 apiece at the volume of 100,000 per year.

“Adding a $1,000 upfront cost plus another couple thousand dollars for a car that’s selling for $30,000 or $50,000 is affordable,” Bao suggested.

With the fresh capital, Innovusion plans to increase the production volume of its auto-grade lidar and put more R&D efforts into smart cities and vehicles. The company has over 100 employees and plans to expand its headcount to over 200 this year.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://techcrunch.com/2021/05/10/innovusion-64-millions-series-b/

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