Robinhood plans to launch a startups fund open to all retail investors
Robinhood announced Monday it has filed an application with the U.S. Securities and Exchange Commission to launch a new publicly traded fund that will hold shares of startups. The idea behind the “Robinhood Ventures Fund I” is to allow every retail investor access to make money on the hottest startups before they go public.
Also, Rodatherm Energy, a new geothermal startup, emerged from stealth Monday with $38 million in funding and a plan to build a pilot plan in Utah.
And, Amid an ongoing surge in defense tech investing, advanced manufacturing company Divergent Technologies raised $290 million to expand production of missile parts and other specialized components for the military.
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Harvard Law to AI: MarqVision lands $48M to combat brand abuse ... and OpenAI's board chair says we’re in an AI bubble (but that’s okay)
When Mark Lee was a law student at Harvard, a trademark class exposed him to the staggering scale of counterfeiting, an illicit industry worth more than $3 trillion annually, and set him on an unexpected path to entrepreneurship.
Bret Taylor, board chair at OpenAI and CEO of AI agent startup Sierra, was asked in a recent interview with The Verge whether he agreed with OpenAI CEO Sam Altman’s declaration that “someone is going to lose a phenomenal amount of money in AI.”
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Hike, once a unicorn, shuts down as India cracks down on real-money gaming
Initially launched as an instant messaging app rivaling WhatsApp in 2012, Hike pivoted to real-money gaming in recent years, with its primary platform, Rush, offering casual games like carrom and ludo for cash prizes, following the shutdown of Hike Messenger in 2021. Rush attracted over 10 million users and generated more than $500 million in gross revenue over its four-year run.
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We are entering a golden age of robotics startups — and not just because of AI
After investing in robotics startups for 10 years, Seth Winterroth, a partner at Eclipse, said the time to invest in robotics has never been better. The robotics startup market has matured and the hardware and software powering these bots has gotten significantly better — and cheaper.
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The music industry is broken: OpenWav’s new app aims to change that
Grammy Award-winning musician, composer, and producer Wyclef Jean says the music industry is broken, which is why he’s now involved with a startup, OpenWav, that’s looking to give the power back to the artists. Through the OpenWav app, launched over the summer, artists can drop new music and exclusives; connect directly with fans; sell merch; host concerts, pop-ups, and listening parties; and more.
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