More AI video generators are popping up

Top News

• Amazon releases a video generator: Amazon has introduced an AI-powered video generator for advertisers that turns a product image into promotional short-form videos. The generator is currently in beta for select U.S. advertisers. After Runway’s deal with Lionsgate yesterday and YouTube’s partnership with Google’s Veo, we should expect to see more AI video generation pop up.

• Microsoft teams up with Anduril: The Peter Thiel-backed defense startup is partnering with Microsoft to enhance the U.S. Army's combat goggles, which offer features like night vision and threat detection. The project is potentially worth $21.9 billion over the next decade, and the Army could order up to 121,000 units, pending testing. Considering the founder of Anduril, Palmer Lucky, previously created the Oculus VR headset, we have high expectations for this project.

• Cybersecurity startup raises a Series C: Picus Security has raised $45 million in a Series C round led by Riverwood Capital, bringing their total funding to $80 million. The company's platform, used by payment giants like Mastercard and Visa, runs automated tests to continuously detect and fix inconsistencies in code and other network activity. While they didn’t disclose their valuation, similar competitors are valued at $440 million. As they continue to scale, keep this one on the radar.

More Cybersecurity on the TWiST500

Cybersecurity has been top of mind during the past few months, and for good reason (looking at you, Crowdstrike). The cost of cybercrime is expected to increase 15% annually over the next five years, reaching $10.5 trillion by 2025. That’s a lot of money that I’m sure companies would like to keep, so it makes sense why cybersecurity startups have been attracting a lot of VC funding. In Q2 2024 alone, VCs invested $4.4 billion.

So, it is only fitting to add Picus Security to the TWiST500. While they raised a fairly modest Series C, and their valuation is unknown to date, their previous round in 2022 put them at $94 million. Since then, the company has grown to 200 employees and tripled its revenue, so I can only imagine that valuation has changed. Now, what made Picus Security catch the eye of investors? Picus’ platform integrates with 80 major security tools and offers automated penetration testing, breach simulations, and rule validation checks across fragmented enterprise IT systems. Combine that with over 500 enterprise customers and 1 billion cyberattack simulations, and Picus proves to be a worthy addition to the TWiST500. — Erika

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This Week in Startups

E2011: Comma’s Harald Schäfer chats with Jason about their approach to self-driving technology, including cost, installation, and open-source contributions. Harald compares strategies between Comma, Waymo, and Tesla FSD, discusses Lidar vs. camera-based systems, and explores the global adoption of self-driving technology. They also cover future predictions, developments in China, and the role of AI in robotics.

E2010: Sankari Nair, Cofounder of Recall, joins Jason to walk us through the features of their platform, including automatic taxonomy creation, augmented browsing, and indexing of web content. They explore B2B applications, multiplayer collaboration, AI summarization costs, and personalized learning options. They finish it off with topics like LinkedIn integration, the concept of "luxury software," and investment opportunities in Recall's startup journey.

E2009: Jason and Alex kick off the show with highlights from the All-In Summit and discuss media criticism and the state of journalism. They delve into OpenAI's latest model, its corporate structure, and the implications for the AI landscape. They also cover autonomous vehicle technology, economic insights on Fed rate cuts, and innovations in food preparation. The show wraps up with a discussion on Mr. Beast's business culture and strategies for large companies to maintain focus on their goals.

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