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Masten Space Systems to develop a GPS-like network for the moon

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Masten Space Systems, a startup that’s aiming to send a lander to the moon in 2023, will develop a lunar navigation and positioning system not unlike GPS here on Earth.

Masten’s prototype is being developed as part of a contract awarded through the Air Force Research Laboratory’s AFWERX program. Once deployed, it’ll be a first-of-its-kind off-world navigational system.

Up until this point, spacecraft heading to the moon must carry equipment onboard to detect hazards and assist with navigation. To some extent, it makes sense that a shared navigation network has never been established: Humans have only landed on the moon a handful of times, and while there have been many more uncrewed landings, lunar missions still haven’t exactly been a regular occurrence.

But as the costs of going to orbit and beyond have drastically decreased, thanks in part to innovations in launch technology by companies like SpaceX, space is likely to get a lot busier. Many private companies and national space divisions have set their sights on the moon in particular. Masten is one of them: It was chosen by NASA to deliver commercial and private payloads to a site near the Haworth Crater at the lunar south pole. That mission, originally scheduled for December 2022, was pushed back to November 2023.

Other entities are also looking to go to the moon. Chief amongst them is NASA with its Artemis program, which will send two astronauts to the lunar surface in 2024. These missions will likely only increase in the coming decades, making a common navigation network more of a necessity.

“Unlike Earth, the moon isn’t equipped with GPS so lunar spacecraft and orbital assets are essentially operating in the dark,” Masten’s VP of research and development Matthew Kuhns explained in a statement.

The system will work like this: Spacecraft will deploy position, navigation and timing (PNT) beacons onto the lunar surface. The PNT beacons will enable a surface-based network that broadcasts a radio signal, allowing spacecraft and other orbital assets to wirelessly connect for navigation, timing and location tracking.

The company already concluded Phase I of the project, which involved completing the concept design for the PNT beacons. The bulk of the engineering challenge will come in Phase II, when Masten will develop the PNT beacons. They must be able to withstand harsh lunar conditions, so Masten is partnering with defense and technology company Leidos to build shock-proof beacon enclosures. The aim is to complete the second phase in 2023.

“By establishing a shared navigation network on the moon, we can lower spacecraft costs by millions of dollars, increase payload capacity and improve landing accuracy near the most resource-rich sites on the moon,” Kuhns said.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
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Source: https://techcrunch.com/2021/07/13/masten-space-systems-to-develop-a-gps-like-network-for-the-moon/

Startups

Zebra raises $1.1M in a pre-seed round for messaging that pairs photos with voice chat

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A new voice-based social app that cites Clubhouse as its biggest inspiration offers a playful new way to stay in touch with close friends and family. Zebra leaves video out of the equation altogether, inviting users to snap on-the-fly photos and send them off paired with casual voice updates.

Zebra focuses on asynchronous sharing, but it also lets users call one another if they’re both already hanging out on the app. The result is a fun and casual way to stay in touch for anyone who doesn’t feel like accidentally getting sucked into Instagram’s endless, ad-strewn feed every time they want to give a friend a quick update.

For now Zebra is a two-person team consisting of CEO Dennis Gecaj, a product designer based in Berlin and Amer Shahnawaz, Zebra’s Head of Engineering, who previously worked on Snap Maps at Snapchat. With the pre-seed funding, led by Alexis Ohanian’s fresh early stage venture firm Seven Seven Six, which the Reddit co-founder announced in June. The app will launch formally in August but is now open for pre-orders through the App Store and as a beta in TestFlight.

“It’s no secret that we are in the midst of an audio revolution, one that has ushered in a series of new audio-first social platforms and content vehicles,” Ohanian said, noting that Zebra’s unique blend of photos and voice is what caught his eye.

Gecaj sees voice-based social networking as a much richer alternative to text-dominant platforms. While products like Instagram allow voice messages and technically let users make voice calls by disabling the camera, voice usually plays second fiddle to video. But video calls are more taxing and require more commitment — it’s no coincidence more and more Zoom cameras blinked offline as the pandemic dragged on.

Unlike Clubhouse, which Gecaj calls a “huge inspiration, Zebra is social audio designed for your inner circle. “With everything opening back up we saw an incredible opportunity for an asynchronous format for that,” he told TechCrunch.

Gecaj hopes that Zebra’s “talking photos” can capture the collective imagination in a way that makes early growth natural. Anyone who downloads Zebra can invite friends individually without needing to share their full contact list (and they’ll need to since you can’t do anything on the app without friends). Because Zebra’s interface is so clean and streamlined, this process is painless and doesn’t necessitate any extra digging through menus.

The idea of a “zebra” — naturally, Zebra is trying to make “zebra” happen — is that people like to see what they are talking about. On a different messaging app, this would require sending a photo and then sending a voice message in quick succession. But on Zebra, sending a photo is the main thing you can do. The app opens right to the camera where you snap a picture. You then hold the photo to record a snippet of voice to go along with it and send it off to friends and family, who appear in a row beneath the camera.

Zebra isn’t worried about the prospect of talking people into downloading another app. Gecaj sees a natural split emerging as creators and audiences increasingly become the focus of social platforms that were initially designed to help friends stay in touch.

“I think the trend is a division between creator platforms where you go to be entertained and platforms you go to hang out with your friends,” Gecaj told TechCrunch.

On top of that, he hopes that Zebra’s dual focus on voice and photos, two aspects of social networking that platforms either don’t prioritize or are actively abandoning, can make it appealing for people who aren’t as interested in video.

“We really also think that text messaging doesn’t have the same emotion as voice… and voice has been really neglected,” Gecaj said. “There’s really a richness to voice, a power to voice that nothing else has.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://techcrunch.com/2021/07/21/zebra-voice-messaging-photos-ohanian-seven-seven-six/

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Startups

Zebra raises $1.1M in a pre-seed round for a messaging app that pairs photos with voice chat

Published

on

A new voice-based social app that cites Clubhouse as its biggest inspiration offers a playful new way to stay in touch with close friends and family. Zebra leaves video out of the equation altogether, inviting users to snap on-the-fly photos and send them off paired with casual voice updates.

Zebra focuses on asynchronous sharing, but it also lets users call one another if they’re both already hanging out on the app. The result is a fun and casual way to stay in touch for anyone who doesn’t feel like accidentally getting sucked into Instagram’s endless, ad-strewn feed every time they want to give a friend a quick update.

For now Zebra is a two-person team consisting of CEO Dennis Gecaj, a product designer based in Berlin and Amer Shahnawaz, Zebra’s Head of Engineering, who previously worked on Snap Maps at Snapchat. With the pre-seed funding, led by Alexis Ohanian’s fresh early stage venture firm Seven Seven Six, which the Reddit co-founder announced in June. The app will launch formally in August but is now open for pre-orders through the App Store and as a beta in TestFlight.

“It’s no secret that we are in the midst of an audio revolution, one that has ushered in a series of new audio-first social platforms and content vehicles,” Ohanian said, noting that Zebra’s unique blend of photos and voice is what caught his eye.

Gecaj sees voice-based social networking as a much richer alternative to text-dominant platforms. While products like Instagram allow voice messages and technically let users make voice calls by disabling the camera, voice usually plays second fiddle to video. But video calls are more taxing and require more commitment — it’s no coincidence more and more Zoom cameras blinked offline as the pandemic dragged on.

Unlike Clubhouse, which Gecaj calls a “huge inspiration, Zebra is social audio designed for your inner circle. “With everything opening back up we saw an incredible opportunity for an asynchronous format for that,” he told TechCrunch.

Gecaj hopes that Zebra’s “talking photos” can capture the collective imagination in a way that makes early growth natural. Anyone who downloads Zebra can invite friends individually without needing to share their full contact list (and they’ll need to since you can’t do anything on the app without friends). Because Zebra’s interface is so clean and streamlined, this process is painless and doesn’t necessitate any extra digging through menus.

The idea of a “zebra” — naturally, Zebra is trying to make “zebra” happen — is that people like to see what they are talking about. On a different messaging app, this would require sending a photo and then sending a voice message in quick succession. But on Zebra, sending a photo is the main thing you can do. The app opens right to the camera where you snap a picture. You then hold the photo to record a snippet of voice to go along with it and send it off to friends and family, who appear in a row beneath the camera.

Zebra isn’t worried about the prospect of talking people into downloading another app. Gecaj sees a natural split emerging as creators and audiences increasingly become the focus of social platforms that were initially designed to help friends stay in touch.

“I think the trend is a division between creator platforms where you go to be entertained and platforms you go to hang out with your friends,” Gecaj told TechCrunch.

On top of that, he hopes that Zebra’s dual focus on voice and photos, two aspects of social networking that platforms either don’t prioritize or are actively abandoning, can make it appealing for people who aren’t as interested in video.

“We really also think that text messaging doesn’t have the same emotion as voice… and voice has been really neglected,” Gecaj said. “There’s really a richness to voice, a power to voice that nothing else has.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://techcrunch.com/2021/07/21/zebra-voice-messaging-photos-ohanian-seven-seven-six/

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i80 Group has quietly committed $1B in credit to the fintech and proptech worlds

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Not every startup wants to raise venture capital. And then there are those that do want to raise VC money but don’t want to use it for specific things.

In recent years, a number of firms have emerged looking to meet the credit needs of such venture-backed and growth startups: i80 Group is one of those firms.

Former Goldman Sachs investment banker Marc Helwani founded i80 in 2016 after investing in early-stage New York-based fintechs in 2014-2015 via his VC fund, Avenue A Ventures.

“It became very clear to me that fintech was going to explode,” he recalls. “At that time, it was still relatively new. And every time I spoke to a company, they would tell me, ‘We know how to raise VC, but what about the credit?’ I just saw this white space.”

For example, proptechs that buy homes on behalf of buyers don’t want to use venture money. Fintechs that want to make loans to consumers don’t want to use equity to do it. Instead, in those cases, credit might be more desirable.

Enter i80. The firm offers credit exclusively, and over the years has quietly committed more than $1 billion to over 15 companies –including real estate marketplace Properly, finance app MoneyLion and SaaS financing company Capchase — that have all raised a significant amount of venture capital but are looking for credit “to help them scale very efficiently and in a non-dilutive manner so they can retain more ownership of their companies,” Helwani said. 

Its $1 billion milestone follows fund commitments nearing $500 million from an unnamed “leading global asset manager” as well as other institutional and retail investors.

Image Credits: Founder and Chief Investment Officer Marc Helwani / i80 Group

I80 — which derives its name from the highway that connects New York and San Francisco — is mainly focused on the fintech and proptech sectors. 

“They are the two centers for the venture ecosystem,” Helwani said. “And we’re trying to be a bridge between those two cities.” I80 has offices in both locations and will soon be opening one in Montreal.

The firm works in conjunction with VC firms such as a16z (more formally known as Andreessen Horowitz); Affirm and PayPal co-founder Max Levchin’s SciFi; Khosla Ventures; Union Square Ventures; and QED.

“In a perfect world, venture capital would be called venture equity,” Helwani said. “VCs’ capital is critical for companies to hire and get office space. But when it comes time to do what the actual business is, such as provide loans or buy homes, capital like ours is very accretive without VCs and management losing ownership in the business. In these cases, using both credit and equity makes a lot of sense.”

Helwani is reluctant to call what i80 offers venture “debt.” He says that has a very specific connotation and is what Silicon Valley Bank and others like it do in providing debt as a percentage of a previous equity round. Instead, according to Helwani, i80’s approach is to minimize fees. The vast majority of its deals are “interest-rate related.”

“With mortgages, for example, we never think about the fees upfront, and focus more on the interest rate,” Helwan said. “We believe the more transparent we are, the more companies will want to work with us.”

I80 conducts quarterly calls with VCs and for now, that’s how it typically sources most of its deal flow. It also gets referrals. Helwani believes that i80 stands out from other firms also offering credit in that it’s “not trying to be credit investors in VC clothing.”

He also thinks that the fact that the i80 team is made of operators, as well as investors, is a contributing factor.

The firm is set to close another half a dozen deals in the next 60 to 90 days, and then plans to set its sights on raising more capital.

“We want to fill this void, and help companies raise money in their subsequent rounds at higher valuations,” Helwani said.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://techcrunch.com/2021/07/21/i80-group-1b-in-credit/

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Startups

i80 Group has quietly committed $1B in credit to the fintech and proptech worlds

Published

on

Not every startup wants to raise venture capital. And then there are those that do want to raise VC money but don’t want to use it for specific things.

In recent years, a number of firms have emerged looking to meet the credit needs of such venture-backed and growth startups: i80 Group is one of those firms.

Former Goldman Sachs investment banker Marc Helwani founded i80 in 2016 after investing in early-stage New York-based fintechs in 2014-2015 via his VC fund, Avenue A Ventures.

“It became very clear to me that fintech was going to explode,” he recalls. “At that time, it was still relatively new. And every time I spoke to a company, they would tell me, ‘We know how to raise VC, but what about the credit?’ I just saw this white space.”

For example, proptechs that buy homes on behalf of buyers don’t want to use venture money. Fintechs that want to make loans to consumers don’t want to use equity to do it. Instead, in those cases, credit might be more desirable.

Enter i80. The firm offers credit exclusively, and over the years has quietly committed more than $1 billion to over 15 companies –including real estate marketplace Properly, finance app MoneyLion and SaaS financing company Capchase — that have all raised a significant amount of venture capital but are looking for credit “to help them scale very efficiently and in a non-dilutive manner so they can retain more ownership of their companies,” Helwani said. 

Its $1 billion milestone follows fund commitments nearing $500 million from an unnamed “leading global asset manager” as well as other institutional and retail investors.

Image Credits: Founder and Chief Investment Officer Marc Helwani / i80 Group

I80 — which derives its name from the highway that connects New York and San Francisco — is mainly focused on the fintech and proptech sectors. 

“They are the two centers for the venture ecosystem,” Helwani said. “And we’re trying to be a bridge between those two cities.” I80 has offices in both locations and will soon be opening one in Montreal.

The firm works in conjunction with VC firms such as a16z (more formally known as Andreessen Horowitz); Affirm and PayPal co-founder Max Levchin’s SciFi; Khosla Ventures; Union Square Ventures; and QED.

“In a perfect world, venture capital would be called venture equity,” Helwani said. “VCs’ capital is critical for companies to hire and get office space. But when it comes time to do what the actual business is, such as provide loans or buy homes, capital like ours is very accretive without VCs and management losing ownership in the business. In these cases, using both credit and equity makes a lot of sense.”

Helwani is reluctant to call what i80 offers venture “debt.” He says that has a very specific connotation and is what Silicon Valley Bank and others like it do in providing debt as a percentage of a previous equity round. Instead, according to Helwani, i80’s approach is to minimize fees. The vast majority of its deals are “interest-rate related.”

“With mortgages, for example, we never think about the fees upfront, and focus more on the interest rate,” Helwan said. “We believe the more transparent we are, the more companies will want to work with us.”

I80 conducts quarterly calls with VCs and for now, that’s how it typically sources most of its deal flow. It also gets referrals. Helwani believes that i80 stands out from other firms also offering credit in that it’s “not trying to be credit investors in VC clothing.”

He also thinks that the fact that the i80 team is made of operators, as well as investors, is a contributing factor.

The firm is set to close another half a dozen deals in the next 60 to 90 days, and then plans to set its sights on raising more capital.

“We want to fill this void, and help companies raise money in their subsequent rounds at higher valuations,” Helwani said.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://techcrunch.com/2021/07/21/i80-group-1b-in-credit/

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