Amazon Launches MK30 Drone Delivery in Phoenix

Top News

• DeepRoute.ai raises $100M: It’s full speed ahead for DeepRoute.ai as it ramps up to rival Tesla’s Full Self-Driving technology with fresh funding. The Chinese startup raised $100 million in Series C1 funding, setting its sights on making waves in the autonomous vehicle market within China. It’s a fascinating play, with DeepRoute banking on both government backing and local market know-how to outpace Tesla in a country increasingly at the forefront of self-driving innovation.

• Amazon drone delivery: Amazon’s drone delivery service has officially taken off in Phoenix, where select customers can now receive items like tech, beauty, and household supplies by drone within an hour. Using the latest MK30 drone—twice as fast and 50% quieter than its predecessor—Prime Air wants to make drone delivery the norm. Service is currently limited to daylight hours and fair weather, but plans to expand to Texas, the U.K., and Italy later this year.

• Google’s new AI hub in Saudi Arabia: Google Cloud is joining forces with Saudi Arabia’s Public Investment Fund (PIF) to open a major AI hub in Dammam, right in the heart of the country’s oil-rich region. The move aligns with Saudi Arabia’s efforts to pivot from oil to tech, aiming to place the kingdom on the map as an AI leader. This hub will provide a base for pioneering research and development in artificial intelligence, underscoring the shift in how Gulf states are leveraging their capital for tech-driven futures.

TWiST500

Perplexity, which Alex highlighted recently, is back in the TWiST500 spotlight. The AI search startup is finalizing a $500 million funding round led by Institutional Venture Partners, tripling its valuation to a whopping $9 billion. This is the fourth funding round this year—yes, fourth—which shows just how strong investor appetite is for Perplexity's rapid growth.

Perplexity's growth has been nothing short of explosive—annual revenue is expected to hit $50 million, up from just over $10 million earlier this year. Despite facing legal pressure from news publishers like the New York Times and Dow Jones, which are challenging its use of their content, Perplexity remains a standout in the generative AI boom. With OpenAI and Google expanding their AI search capabilities, Perplexity's significant new funding positions it well to keep pushing forward. — Maddie

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This Week in Startups

E2039: In this episode, Alex chats with ExoWatt’s Hannan Parvizian about tackling the soaring energy demands of AI and data centers. They delve into ExoWatt's mission to provide affordable and sustainable power solutions for the tech sector, discussing the innovations and challenges shaping clean energy's future for data-intensive applications.

E2038: Jason and Alex kick off the show discussing election security in America and the complexities of influencing swing states. They explore Decart's AI-generated video game and its potential, followed by a deep dive into viral growth strategies for startups and NVIDIA's market dynamics. The episode wraps with insights into Amazon’s nuclear power deal and the regulatory landscape.

E2037: Jason and Alex dive into the latest in automation with Extend Robotics' Dr. Chang Liu, covering robotic grape picking, teleoperation challenges, and the future of "human in the loop" AI. The conversation expands to building a tech company in the UK, AI's second-order effects, and the impact of remote work on global salary standards. They close with key industry updates, from OpenAI’s new voice features to Google’s impressive earnings, along with Amazon’s growth in AI and AWS.

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Angel University

Angel University is just around the corner. It’s a four-hour online workshop with Jason and Mike, President at LAUNCH, where they cover key factors to consider when angel investing. They also provide insights into our investment process at LAUNCH, including the criteria we use when evaluating startups. If you’re interested, you can find more information here. The next workshop is on November 6th.

LAUNCH Cloud Kitchens Incubator

Applications are open for Cohort 2 of the LAUNCH CloudKitchens Incubator (LiCK). We're looking for food entrepreneurs who wish to expand into the ghost kitchen space or tech founders with a team and a great idea. The application and more information can be found at https://ck.launch.co/.

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