Dear Inside Community, Meet Our Fund 3 goes live this week, Tuesday, May 24, and Wednesday, May 25. If you don’t already know, this is our most popular event series, where VCs pitch their funds directly to startup founders. Just look at this week’s guest list. Registration is free, and if you’re a founder who might be raising soon, we know you’ll want to make MOF3 a priority. See you there! —The Inside Team |
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BeyondMinds, a provider of enterprise AI solutions, is shutting down after the company failed to find a buyer. The Israel-based startup said it is helping its 65 employees find positions at other organizations. More: - Former CEO Rotem Alaluf co-founded BeyondMinds with Or Kremer and Roey Mechrez in 2018.
- The startup specialized in automatic machine learning (AutoML) for model creation and more in areas such as finance and production systems.
- It held a seed round in 2019 and announced a $15M Series A round, co-led by Grove Ventures and Marius Nacht, in Nov. 2020.
- In Sept. 2021, Alaluf left as CEO and co-founded a new stealth startup, Wand.ai, that's focused on providing "the power in AI creation for everyone."
- Mechrez later assumed the role of CEO. Since then, BeyondMinds has been impacted by the downturn in the tech market. It reportedly sought a buyer but the talks fell through, he confirmed.
- "Regretfully, we decided last week that the right thing was to halt the company's business operations," Mechrez said. He denied reports that Grove Ventures withdrew its investment funds.
CTECH BY CALCALIST 
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Meta announced the release of MyoSuite, an AI platform that can generate musculoskeletal models for use in areas like prosthetics, surgery, and avatar creation. The models can be trained to mimic movement such as rotating a key or twirling a pen, the company said. More: - The musculoskeletal models could, for example, allow researchers to simulate body movements after surgeries, such as tendon transfers for torn tendons.
- The physiologically realistic models are "orders of magnitude" more scalable and computationally efficient than other models, according to Meta.
- In a statement, CEO Mark Zuckerberg said it could speed up the development of new prosthetics, surgery, and physical rehabilitation techniques.
- It could help Meta design and create avatars that move more realistically for the metaverse, he said.
- Meta said it intends to open up MyoSuite's models to researchers, who could improve upon them to perform more difficult tasks.
CNET
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Amazon is now installing AI-equipped cameras in its delivery vans in the U.K., according to The Telegraph. The move comes after Amazon began equipping its vehicles in the U.S. with the multi-camera system from California-based Netradyne in early 2021. More: - The system has two cameras, one facing the driver and the other directed at the road.
- It reportedly monitors and issues alerts if a driver brakes too sharply or speeds, for example. It issues a score based on the driver's behavior.
- Amazon previously confirmed that it could use the footage to make employment decisions such as firing.
- Big Brother Watch, a U.K.-based privacy group, has called on Amazon to halt the installations, calling it "directed surveillance" and a privacy violation that has the potential to distract drivers.
- Amazon said the system is designed to keep drivers and communities safe. A spokesperson claimed that the U.S. program cut down on delivery accidents by nearly 50%.
THE TELEGRAPH
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The U.K.'s privacy watchdog has fined Clearview AI £7.55M ($9.5M) and ordered the company to delete all of its facial image data of U.K. residents. While Clearview no longer offers its services to U.K. organizations, it's still using the personal data of its citizens through its contracts in other countries, according to the U.K.'s Information Commissioner's Office (ICO). More: - The ICO issued its preliminary findings against Clearview in November.
- At the time, it said Clearview breached its data protection laws in "several ways," including failing to tell people what's happening to their biometric data.
- The agency initially issued a preliminary fine of £17M ($21.4M) but appears to have lowered that amount to $9.5M.
- In the U.K., the Metropolitan Police, Ministry of Defense, and National Crime Agency have all previously used Clearview's AI service.
- In response, Clearview confirmed it no longer does business in the U.K. and said it is "not subject to the ICO's jurisdiction," suggesting it may refuse to pay the fine.
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Nextbillion.ai, a startup using AI to help companies manage their spatial data, secured $21M in a Series B round led by Mirae Asset Venture Investment. Other participants in the round included Lightspeed Venture Partners, Alpha Wave Global, and M12, Microsoft’s venture fund. More: - Nextbillion.ai says its AI-driven APIs and SDKs help enterprises manage spatial data at a petabyte scale.
- Based in Singapore, the startup said it counts 30+ customers in various industries, including tech, ride-hailing services, and logistics.
- Nextbillion.ai plans to use the proceeds to expand into Europe and North America. It also intends to build and manage new decentralized geospatial technology stacks for businesses.
- The startup last raised $6.25M from M12 in a Series A extension round a year ago.
DEAL STREET ASIA
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AI Events and Conferences: - ICRA 2022: International Conference on Robotics and Automation: May 23-27, Philadelphia.
- The AI Summit London: June 15-16, London.
- CVPR 2022, IEEE Conference on Computer Vision and Pattern Recognition: June 19-24, New Orleans.
- Deep Learning World: June 19-24, Las Vegas.
- International Conference on Machine Learning and Data Mining: July 16-21, New York City.
- ICML 2022, International Conference on Machine Learning: July 17-23, Baltimore, in-person conference with virtual elements.
- Ai4 2022: Aug. 16-18, Las Vegas.
- AI & Big Data Expo — North America: Oct. 5-6, Santa Clara, Calif., and online.
- IROS 2022: International Conference on Intelligent Robots and Systems: Oct. 23-27, Kyoto, Japan.
- AI & Big Data Expo Global: Dec. 1-2, Hybrid and London.
- The AI Summit New York: Dec. 7-8, New York City.
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QUICK HITS *This is a sponsored post.
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Upcoming Events: - May 24 - Meet Our Fund 3 (Register Here)
- May 31 - Ethereum Merge with Anthony Donofrio (Ethereum) (Register Here)
- June 01 - Selling Consumer Goods in Web3 (Register Here)
- June 06, June 07, June 08 - June 09 - In-Person RSA Conference 2022: Control IT, security, and SaaS complexity with Axonius (Register Here) *
- June 09 - Empowering Content Creators with No Code (Register Here)
- June 15 - Need To Know NoCoder - Artem Harutyunyan (bardeen.ai) (Register Here)
- June 16 - Future of the Art Market (Register Here)
- June 30 - HR Strategies to Retain Remote Employees (Register Here)
*This is a sponsored listing.
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 |  | Beth is a writer and analyst at Inside.com covering artificial intelligence and daily tech news. Since starting work at Inside, she has covered various topics including virtual reality, drones, and e-commerce. Prior to that she was a public policy and investigative reporter for The Arizona Republic, where she won a Pulitzer Prize nomination and First Amendment Award for reporting on the rising costs of pensions. Reach her at Beth.Duckett@inside.com. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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