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Beta Boom Closes $14.5 Million Fund II to Invest in Software Solutions for Fastest-growing, Yet Least Served Populations

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Pre-seed and seed stage VC firm Beta Boom has closed a $14.5 million Fund II with limited partners including Ally Bank, Pivotal Ventures, Bank of America, and Atento Capital. This fund will support early-stage startups that address the most critical needs of the fastest-growing, yet least-served populations.

SALT LAKE CITY, Feb. 13, 2024 /PRNewswire-PRWeb/ — Beta Boom, a pre-seed and seed stage venture capital firm committed to achieving impact at scale, has closed a $14.5 million Fund II raised by Managing Partners Kimmy and Sergio Paluch. With Limited Partners that include Ally Bank, Pivotal Ventures (A Melinda French Gates Company), Bank of America, and Atento Capital, the fund will support early-stage startups that address the most critical needs of the fastest-growing, yet least-served populations.

“The closing of this fund allows us to continue investing in software startups that not only solve real and meaningful problems, but that also have strong market potential,” said Kimmy Paluch, Co-founder and Managing Partner of Beta Boom.

“The closing of this fund allows us to continue investing in software startups that not only solve real and meaningful problems, but that also have strong market potential. We see the greatest needs and opportunities in fintech, digital health, and the future of work, and that’s where Beta Boom’s focus remains,” said Kimmy Paluch, Co-founder and Managing Partner of Beta Boom. “We’ve always seen ourselves as somewhat of outliers in the VC space, and we have so much conviction in that. Not only have we created a sourcing strategy that’s purpose-built to identify incredible founders outside major tech hubs like Silicon Valley, but we are also ludicrously hands-on in the way we support our founders – because our investment in their success is driven by purpose.”

“Beta Boom is doing something different. We’ve been impressed by Kimmy’s deep experience and relationships, allowing the team to have steady, individualized support for their founders. Their unmatched growth mindset gives them the flexibility to learn, absorb, and adjust in an unpredictable ecosystem,” Erin Harkless Moore, Senior Director of Investments at Pivotal Ventures.

Priding themselves on a fiercely untraditional approach to evaluating founders, Beta Boom looks beyond referral networks and major tech hubs, consciously focusing across America’s Heartland. Prospective investments are evaluated on more than 30 dimensions across 5 categories – nearly 50 percent of which is attributed to the team execution and founder qualities such as grit. Attributes related to pedigree, like having attended an Ivy League school, results in detracted points to adjust for bias.

In hopes of taking a closer look at pedigree bias, Beta Boom recently conducted an analysis of the top 10 venture capital firms. After analyzing more than 800 seed investments made throughout the last five years, they found that 69 percent of investments were linked to pedigree.

“Many of our founders tell us that Beta Boom is the first time they feel like they’ve been taken seriously – which is both encouraging and disconcerting at the same time. We don’t care about a founder’s professional background or location; what we’re truly looking for is someone who has persevered in the face of adversity,” said Sergio Paluch, Co-founder and Managing Partner of Beta Boom. “Founders who are intimately connected to the problem they are trying to solve not only have a proven track record, but also have the power to become the next generation of unicorn founders – if given the opportunity.”

“Beta Boom’s approach is truly unique and special. Time and time again Kimmy and Sergio demonstrate their roles as true partners and champions, and not only because they provide critical, actionable support, but also because they see the potential and greatness in founders when they often struggle to see it themselves. Simply put, Beta Boom sets a new standard for the relationship investors need to have with their portfolio companies,” said Emily Brown, Co-founder and CEO of Attane Health.

Through a self-funded Fund I and its current Fund II, Beta Boom has already invested in 20 companies alongside leading investors like Union Square Ventures, Acumen America, SoGal Ventures, Serena Ventures, BBG Ventures, Alumni Ventures Group and others; supporting impact-driven companies like:

Bolder Money, an online money coaching program, that has increased the wealth of members by an average of $12KCanopie, addressing the maternal mental health crisis with accessible, evidence-based care, and has helped 80% of its mothers achieve clinically significant improvements in depression scoreAttane Health, providing healthy food access for those living with chronic health conditions such as diabetes and heart disease, which affect one-third of all Americans

Beta Boom’s General Partners have led innovation and growth projects for some of the world’s leading brands, companies like Google and TiVo. Individually, and as a firm, they have been awarded for their commitment to changing both the business and venture capital landscape through recognition from Utah Business, Kem C. Gardner Institute, Silicon Slopes, Living Color, and other highly-respected accolades and organizations.

About Beta Boom

Since 2018, Beta Boom has invested in early-stage software companies solving the most critical needs of the fastest-growing, yet least-served, populations. Committed to investment principles that are fiercely untraditional, Beta Boom values grit and perseverance over pedigree and looks beyond Silicon Valley for founders who are intimately connected to the problems they’re trying to solve. The firm invests primarily in fintech, digital health, and the future of work, areas where the greatest opportunities lie in addressing unmet needs, at scale. Co-founded by Kimmy and Sergio Paluch, who have led product innovation projects for companies like Google and TiVo, Beta Boom is backed by Limited Partners that include Ally Bank, Pivotal Ventures (A Melinda French Gates Company), Bank of America, and Atento Capital. For more information about Beta Boom visit https://betaboom.com/.

Media Contact

Liza Vilnits, Beyond Trending PR, 1 508-333-8548, liza@beyondtrendingpr.com

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HONOR Redefines Mobile AI Solutions with PC powered by Snapdragon, on-device AI Agent and AI Deepfake Detection at IFA 2024

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HONOR, Qualcomm, and Microsoft Redefine Innovations in Mobile AI

BERLIN, Sept. 7, 2024 /CNW/ — Today at IFA 2024, HONOR unveiled three groundbreaking mobile AI Solutions: AI PC powered by Snapdragon® X Elite platforms, AI Agent and AI Deepfake Detection. The launch was accompanied by a thought-provoking panel discussion featuring HONOR CEO George Zhao; Alex Katouzian, Group GM of MCX at Qualcomm Technologies, Inc.; and Mark Linton, VP of Device Partner Sales at Microsoft. Together, they explored the convergence of AI and Snapdragon technology, discussing how these innovations are shaping the future of mobile AI.

“When it comes to mobile computing, AI is not just a buzzword, it’s a revolution,” commented George Zhao, CEO of HONOR Device Co., Ltd. “At HONOR, we’re committed to working with our partners to deliver powerful AI capabilities and seamless connectivity, while protecting our users’ privacy. Through open collaboration with industry leaders, we’re creating devices that empower individuals and redefine what’s possible.”

“At Qualcomm Technologies, we believe the NPU is the key to unlocking the true potential of AI in PCs,” added Alex Katouzian, Group GM of MCX, Qualcomm Technologies, Inc. “The Snapdragon X Elite with its industry-leading NPU performance empowers AI PCs like the HONOR MagicBook Art 14 to deliver next-generation AI experiences. Not only will users see a significant boost in capabilities, but the NPU’s efficiency also translates to longer battery life, allowing users to stay productive for extended periods.”

HONOR MagicBook Art 14 Snapdragon: Redefining PC in the Mobile AI Era
The PC landscape is undergoing a radical transformation, driven by advancements in AI and the rise of Snapdragon platforms. Fueled by HONOR’s platform-level AI capabilities and developed in collaboration with top industry leaders, HONOR MagicBook Art 14 Snapdragon heralds a new era of computing.

Featuring a sleek and compact design, the HONOR MagicBook Art 14 Snapdragon is a marvel of lightweight engineering. It incorporates cutting-edge platform-level AI features alongside robust hardware and software solutions, ensuring unmatched productivity and user experience. It translates the lightweight and slim characteristics of smartphones to laptops, delivering the lightest and slimmest AI PC on the market, weighing approximately 1kg with a slimness of 1cm. Delivering an immersive visual journey, the HONOR MagicBook Art 14 Snapdragon features a captivating 14.6-inch HONOR FullView Touch Display boasting a crystal-clear 3.1K resolution. It also includes an outstanding 97% screen-to-body ratio, the largest among 14-inch laptops. The HONOR MagicBook Art 14 Snapdragon is powered by the Qualcomm Snapdragon X Elite, elevating the computing experience to new heights in terms of power, efficiency, and security.

The HONOR MagicBook Art 14 Snapdragon also enables a smooth transition of Windows applications on X86 to the Windows on Snapdragon architecture. Based on years of research on the ecosystem, HONOR created a Hotspot Library that uses platform-level AI to identify frequently used scenarios and trigger translation optimization efficiently. HONOR has improved 16% of the average boot-up time1 with translation optimization across a diverse array of Windows applications. Currently, HONOR has optimized a total of the Top 14 applications across six major categories, including browsers, online meetings, media, office, social software and tools.

The HONOR MagicBook Art 14 Snapdragon will be soon available in German, France and Italy.  For preorder, please visit HONOR online store now at www.honor.com.

Seamless AI Experiences Elevated by the Power of MagicRing
In the mobile AI era, seamless cross-OS connectivity will truly empower users to unlock AI everywhere. Unlike the manual point-to-point connections in traditional solutions, the HONOR MagicRing allows multiple devices of the same account to automatically connect with low power consumption.

The MagicRing not only connects devices but also connects services across the devices. The solution also enables users to use the same set of keyboard and mouse for multiple devices, receive calls and notifications on a device other than their smartphones, and control the smartphone’s camera on the PC. With the secure and smooth flow of services and information across devices, MagicRing makes multi-device AI experience easier. For example, as one of the typical scenarios of Windows on Snapdragon experience, Cocreator allows users to produce fantastic artwork with simple draws. Powered by MagicRing, users can seamlessly access Cocreator on their HONOR MagicPad 2, drawing AI masterpieces with their Magic-Pencil. In the Meanwhile, they can also use AI Eraser from HONOR Magic V3 on the HONOR MagicBook Art 14 Snapdragon to experience unparalleled levels of convenient mobile AI.

HONOR AI Agent: The First On-device AI Agent for the Open Ecosystem
The HONOR AI Agent is a revolutionary always-on personal assistant designed to enhance and simplify users’ daily lives. By intuitively understanding users’ requests and intentions through language analysis and UI awareness technology, the AI Agent that learns from their habits and device environment can intelligently make decisions across various apps and services. This capability allows it to automate complex tasks. HONOR demonstrated how to find and cancel unwanted app subscriptions across different apps with just a few simple voice commands on their smartphones.

As we look to the future, the HONOR AI Agent is poised to become the cornerstone of mobile AI, and it is anticipated to arrive with the HONOR Magic7 Series later this year in China. This innovation not only signifies a leap in technology but also heralds a new era where AI seamlessly integrates into our daily routines, enhancing everyday productivity and efficiency.

The World’s First On-device AI Deepfake Detection Technology
As the technology behind deepfakes becomes more sophisticated, the potential for misuse, including identity theft and the spread of disinformation, grows significantly. HONOR’s on-device AI Deepfake Detection represents a groundbreaking solution designed to protect users from the increasingly prevalent threat of deepfakes. This innovative detection system employs advanced algorithms to meticulously analyze various elements, including pixel-level synthetic imperfections, border compositing artifacts, inter-frame continuity, consistency in face-to-ear hairstyle, and the positioning of synthetic traces. By examining these characteristics, the technology can accurately identify manipulated content, distinguishing between genuine media and deceptive alterations.

About HONOR 
HONOR is a leading global provider of smart devices. It is dedicated to becoming a global iconic technology brand and creating a new intelligent world for everyone through its powerful products and services. With an unwavering focus on R&D, it is committed to developing technology that empowers people around the globe to go beyond, giving them the freedom to achieve and do more. Offering a range of high-quality smartphones, tablets, laptops and wearables to suit every budget, HONOR’s portfolio of innovative, premium and reliable products enable people to become a better version of themselves.

For more information, please visit HONOR online at www.honor.com or email newsroom@honor.com 

https://community.honor.com/  
https://www.facebook.com/honorglobal/  
https://twitter.com/Honorglobal  
https://www.instagram.com/honorglobal/  
https://www.youtube.com/c/HonorOfficial  

1Data comes from HONOR labs.

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SDAIA to Unveil Key AI Strategies and International Collaborations at Global AI Summit Press Conference

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RIYADH, Saudi Arabia, Sept. 7, 2024 /CNW/ — The Saudi Authority for Data and Artificial Intelligence (SDAIA) will hold a press conference on Sunday, September 8, at the King Abdulaziz International Conference Center. The press conference will highlight key aspects of the upcoming third edition of the Global AI Summit, taking place under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of SDAIA’s Board of Directors. The summit is scheduled for September 10-12, 2024, and will feature over 300 speakers, attracting global thought leaders, policymakers, and AI experts from more than 100 countries.

The press conference will feature remarks from prominent figures, including H.E. Dr. Abdullah bin Sharaf Alghamdi, President of SDAIA, H.E. Dr. Esam bin Abdullah Alwagait, Director of the National Information Center (NIC), and H.E. Dr. Yaser bin Mohammed Al-Onaizan, CEO of the National Center for AI (NCAI) in SDAIA.

Key topics to be covered during the press conference will include the significance of the Crown Prince’s patronage, the summit’s focus areas, and its anticipated impact on the good of humanity, particularly amid the rapid development of AI technologies. It will also showcase how AI is driving economic growth, creating new sectors and industries, and addressing global challenges. Furthermore, the press conference will spotlight Saudi Arabia’s leadership in promoting responsible AI use and ethics on the international stage, while addressing both the opportunities and challenges AI presents.

For more information about the GAIN Summit, please visit:  https://globalaisummit.org/en/default.aspx   

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More Than a Device: Timekettle Unveils W4 Pro AI Interpreter Earbuds at IFA 2024

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BERLIN, Sept. 7, 2024 /PRNewswire/ — Timekettle, the expert in AI translator earbuds, has unveiled its latest innovation, the W4 Pro AI Interpreter Earbuds, at the International Funkausstellung (IFA) 2024. More than a device, the W4 Pro functions like a personal assistant, catering to the cross-language communication needs when hosting foreign guests, conducting multi-language online meetings, or traveling abroad for business or leisure.

“Interpreter earbuds like the W4 Pro are essential even when phones can be used for translation, because they cater to a more refined and immersive user experience,” said Leal Tian, the CEO of Timekettle. “In cross-language communication, there’s a growing need for meaningful conversations and deeper connections beyond basic translations, especially for business pros, immigrants, and travelers. The W4 Pro meets these needs by allowing natural, hands-free conversations with eye contact, making interactions smoother.”

The W4 Pro caters to diverse communication needs in three distinct modes. The first mode focuses on one-on-one simultaneous interpreting. It features advanced technology that allows for instant translation in a two-way conversational setting. Its dual interpretation system redefines successful communication by allowing two voices to merge into a singular flow. The earbuds also incorporate a triple microphone array that enhances voice recognition and translation accuracy.

For professionals navigating multilingual meetings, the W4 Pro’s Listen & Play mode is an ideal choice. It allows seamless switching between listening and speaking with simultaneous interpretation. Timekettle’s AI Semantic Segmentation ensures rapid sentence parsing, enhancing communication and productivity, while AI Memo provides intelligent post-meeting summaries.

The third mode caters to online interactions such as video calls or streaming foreign media content, ensuring users understand every word with real-time translated subtitles and audio summaries post-meeting or event. In addition, unexpected phone calls in a foreign language are no longer a concern, as the W4 Pro offers one-way assisted translation and real-time transcription subtitles, enabling quick information grasp and efficient conversations.

Understanding the importance of user comfort and efficiency, Timekettle has equipped the W4 Pro with an open-ear design, ensuring prolonged comfort without compromising privacy or hygiene. Additionally, its high-end sound quality enriches every interaction, making it comparable to professional audio systems.

Significant Milestone to “Babel Fish”

Timekettle was inspired by the “Babel Fish,” a magical creature from the sci-fi movie “The Hitchhiker’s Guide to the Galaxy.” “Babel Fish” allows people to understand alien languages. Since its inception, Timekettle has been striving to create a real-life “Babel Fish,” enabling everyone to communicate freely across different languages.

Over the past eight years, Timekettle has revolutionized cross-language cultural communication through a series of innovative products. Initially, Timekettle introduced a handheld translator, which, despite requiring users to press a button and wait, significantly aided in understanding across languages. The evolution continued with the M3 Translator Earbuds, allowing users to listen and respond, though still necessitating manual switching of audio channels.

The breakthrough came with the Timekettle WT2 Edge Simultaneous Translator Earbuds, featuring HybridComm™ technology that enabled two-way, real-time communication. Users could speak and listen simultaneously, making conversations more natural and efficient.

Early this year, Timekettle further advanced its technology to process multiple people’s audio in five different languages simultaneously, pushing the boundaries of cross-language communication.

Each of Timekettle’s technological advancements aims to make cross-language communication as seamless as same-language interactions. And now, the Timekettle W4 Pro AI Interpreter Earbuds enable smooth, effective communication in global business negotiations across languages. Looking forward, Timekettle remains committed to achieving universal communication freedom, continuously enhancing its products to facilitate natural and efficient cross-language interactions.

About Timekettle

Established in 2016, Timekettle is dedicated to advancing cross-language communication through innovative products and solutions. Recognized with numerous international accolades, including the CES Innovation Award, iF Design Award, and Japan Good Design Award, Timekettle’s products have proudly served the needs of cross-language communication in a variety of user scenarios, including abroad-living, traveling, multi-language meetings and classrooms, as well as in manufacturing and logistics, and beyond. Having solidified a user database of more than 400,000, Timekettle continues its journey as the Global No.1 AI Translator Device.

For more information, please visit https://www.timekettle.co/

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