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Forto, a German-based freight transport startup, which was last valued at $2.1 billion, is investment bank Moelis & Co. We are working with to investigate options including potential mergers and sales. Forto stands as one of the competitors backed by the closest venture to US-based Flexport. The companies are now trying to operate more sustainably after years of aggressive spending to gain market share from industry giants. Since its founding about 10 years ago, Forto has raised over $600 million from investors, including SoftBank. In 2021, Forto secured a $240 million round led by SoftBank Vision Fund 2. Existing supporters…
BEIRUT, Lebanon – Israel maintains its troops in five locations on Lebanon’s territory, raising fears that it is planning a new long-term occupation. Israel was initially requested to withdraw its troops from southern Lebanon on January 26 as part of a ceasefire agreement with Lebanese group Hezbollah, which came into effect on November 27th. As part of the agreement, Israeli forces and Lebanese Shiite group Hezbollah will withdraw from southern Lebanon, a long-controlled region, so that the Lebanese Army and UN peacekeepers can deploy and control the region. I’ve done it. However, Israeli forces stayed in several Lebanese villages since…
The Ukrainian president has said there are no decisions on how to end the Russian war in his country without consulting with Kiev.President Volodymyr Zelenskyy updated his request that it be included in Kyiv’s talks on how to end the Ukrainian war in Russia after the US and Russia agreed to form a team to negotiate a halt to the fighting. Ukraine was not represented at a meeting between the US and Russian authorities in Saudi Arabia’s capital, Riyadh on Tuesday. “No one wants to decide anything behind our backs… we can’t make a decision without Ukraine on how to…
Former Openai CTO Mira Murati has announced her new startup. Naturally, it focuses on AI. A startup called Thinking Machines Lab, which came out of stealth today, said, “We’re going to build tools to work with AI.” [people’s] To create AI systems that are “more widely understood, customizable, and generally competent” than those currently available. Murati leads Thinking Machine Lab as CEO. Openai co-founder John Schulman is the company’s chief scientist and former Chief Research Officer of Openai, Barret Zoph is CTO. In a blog post shared with TechCrunch, Thinking Machines Lab wrote that while AI features are progressing dramatically,…
UK-based legal high-tech startup Luminance has secured $75 million in the Series C funding round, marking one of its biggest investments in professional legal AI companies in the UK and Europe. The round was led by private investment in Point 72 and was supported by Forestay Capital, RPS Ventures and Schroders Capital. Existing supporters such as March Capital, National Grid Partners and Law Firm Slaughter also participated. The round has raised over $115 million in brightness over the past year, and an overall $165 million. The company was initially supported by the late Dr. Mike Lynch, founder of the Autonomous…
US-based venture capital firm Insight Partners confirmed that hackers had compromised their systems in January. When TechCrunch reached, Insight Partner confirmed the cybersecurity incident in a statement released Tuesday. Calculist first reported the violation earlier in the day. Insight Partner said in its statement that it detected that “fraudulent third parties” had access to “specific insight information systems through sophisticated social engineering attacks” on January 16th. “As soon as this incident was detected, we moved quickly to begin containment, correction and investigation within hours,” the statement said. The company has over $90 billion in assets under its control and has…
Native American activist Leonard Peltier left Florida prison nearly 50 years later, following a commute from former US President Joe Biden. On Tuesday morning, Peltier was removed from federal jail in Coleman, Florida, and was taken away by an SUV. He didn’t talk when he left prison. The 80-year-old Peltier became a global symbol of Indigenous rights after his conviction for murder in 1977. Groups like Amnesty International and supporters like actor Robert Redford are seeking his freedom. A member of Chippeweindian’s Turtle Mountain Band, Peltier has long maintained his innocence. “Today is finally free! They may have imprisoned me,…
Wall Street analysts are bullish at FutureVenture Global, the second purely traded liquefied natural gas company in the US Venture Global. Work for years. Venture shares then lowered their $25 IPO price to $15.96 per share as of the end of Friday. However, Goldman Sachs, JP Morgan, Bank of America, Deutsche Bank, RBC Capital Markets and Mizuho Securities have all begun compensation for ventures equivalent to purchase ratings. Goldman has a price target of $29 and offers upsides of about 82% from its current level, while JP Morgan has a target of $25, suggesting a rise of about 57%. Investment…
Gig Marketplace Fiverr wants freelancers to train AI to work bodies and use it to automate future work. At the event on Tuesday, Fiverr announced the launch of several new initiatives aimed at attracting gig workers to its platform and equipping them with generative AI tools. Perhaps most ambitious is that programs that perform narration, graphic design, and certain related work to freelancers provide the ability to train AI on content and bill customers for access. Fiverr CEO Micha Kaufman has pitched the move as a way to ensure gig workers will “provide unprecedented tools to expand their work while…
Elon Musk has spent decades building a universe of companies that has served as an incubator for up-and-coming engineers and a proving ground for his inner circle. That universe — an ecosystem of Silicon Valley tech titans, veterans of his companies like Tesla and SpaceX, and a crop of fresh-faced hackers and software engineers — has now collided with the U.S. federal government. The dozens of individuals who work under, or advise, Musk and the Trump-ordered Department of Government Efficiency — individuals who TechCrunch has identified or confirmed independently — reflects more than the billionaire’s proclivity to collect talent. They…