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EquityPandit

EquityPandit
STARTUPS

String Bio Raises $20 Mn in Series B Round

On July 11, Biotech innovation startup String Bio announced that it is raising a $20 million Series B round from companies including Woodside, Ankur Capital, Dare Ventures, Redstart and Zenfold Ventures.


The startup has also entered into a strategic development agreement with Woodside Energy Technologies, a wholly-owned subsidiary of the global energy company Woodside Energy Group (Woodside).


String Bio has built a technology platform that utilizes advances in biology, fermentation technology, chemistry and process engineering to convert the energy in methane into various value-added products. These products include protein ingredients for nutrition, innovative crop inputs and products with biodegradable polymers.


Dr Ezhil Subbian, Co-founder and CEO of String Bio, said: “String’s vision is to leverage cutting-edge advances in biotechnology to achieve a better life with a significantly reduced environmental footprint. With the Woodside collaboration and Series B funding, we’re taking a big step forward in bringing such solutions to the fore of the market – better solutions for people and the planet”.


Woodside Energy CEO Meg O’Neill added that the investment in String Bio builds on the ability to potentially reduce greenhouse gas emissions by converting carbon into useful products. “We believe String Bio’s technology could eventually be used to recover methane at the Woodside facility. It could also be deployed at third-party sites with available biomethane, such as landfill facilities and farms,” O’Neill added.

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TECHNOLOGY

Google in Advanced Talks to Acquire NVIDIA AI Chips

Dhruva Kulkarni

Google is reportedly in late-stage talks with AI cloud provider CoreWeave to lease NVIDIA’s Blackwell chips amid an ongoing AI chip shortage. 

CoreWeave’s close ties with NVIDIA and rapid AI data centre expansion have attracted interest from companies like OpenAI and Meta.

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On Wednesday, CoreWeave’s stock climbed 14% to over $60, rebounding from its $40 IPO price. This comes despite reports that Microsoft may end data centre leases, with Google potentially acquiring some of the available capacity.

With AI firms like xAI and OpenAI emphasising the ongoing NVIDIA GPU shortage, computing power remains a critical asset. If finalised, Google’s deal with CoreWeave would strengthen its AI infrastructure in an increasingly competitive market.

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TECHNOLOGY

Trump to Review TikTok Sale Plans in Wednesday Meeting

Dhruva Kulkarni

President Donald Trump will review a proposal on Wednesday for TikTok’s US divestment from ByteDance, just days before the 5th April deadline.

The deal may involve Oracle, Blackstone, and other investors, with Oracle providing security assurances while TikTok’s algorithm remains under Chinese control.

Trump will consult with Vice President JD Vance and top officials, though it’s unclear if ByteDance or China are involved.

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The sale deadline, initially set for 19th January, has already been extended once, and Trump may extend it further if needed.

Critics, including some Republican lawmakers, argue the deal may not fully address data security concerns or Chinese influence.

Trump has downplayed urgency, noting strong investor interest and suggesting he might lower tariffs to gain Beijing’s approval.

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TECHNOLOGY

India Emerges as Fastest-Growing Market for AI Voice Tech Firm ElevenLabs

Dhruva Kulkarni

India has become the fastest-growing market for AI voice technology firm ElevenLabs, with a 50% growth in usage from November to January, driven by the country’s diverse languages and increasing demand for quality voice translation.

Founded just two years ago, ElevenLabs has achieved unicorn status, raising $180 million in its latest funding round and expanding its team from 5 to 150 employees.

The company gained attention for dubbing Prime Minister Narendra Modi’s interview with Lex Fridman and has also worked on AI voice dubbing for world leaders like Volodymyr Zelenskyy and Javier Milei.

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ElevenLabs’ mission is to preserve the essence of original voices while making content more accessible, claiming to have the best voice technology.

The AI voice market is projected to reach $1.82 billion by 2030, with increasing competition from giants like Google and OpenAI.

The company has partnered with major organisations such as Star Cricket and Qube Cinema and launched a speech-to-text tool, Scribe, in 11 Indian languages with superior accuracy.

ElevenLabs remains focused on innovation, continued investment in AI research, and expanding its reach in India.

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TECHNOLOGY

Perplexity CEO: No Financial Issues, No IPO Before 2028

Dhruva Kulkarni

Perplexity CEO Aravind Srinivas dismissed concerns about the company’s financial health, stating it has sufficient funding, growing revenue, and no IPO plans before 2028.

A Reddit post alleged financial struggles at Perplexity, citing cost-cutting measures like Auto mode resetting user-selected models and the removal of high-quality models like o1.

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Srinivas clarified that Auto mode was introduced to simplify AI products by reducing excessive buttons and menus.

He acknowledged that rapid feature rollouts, such as Answer mode, have led to bugs, quality issues, and user confusion. Srinivas apologised for the dip in quality and lack of transparency, promising to improve internal processes.

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TECHNOLOGY

ChatGPT’s Viral Ghibli-Style Images Spark AI Copyright Debate

Dhruva Kulkarni

Studio Ghibli fans were thrilled that a new ChatGPT feature would let them transform memes and personal photos into Hayao Miyazaki’s signature style. However, the trend sparked ethical concerns over AI’s impact on artists and copyright. Miyazaki, known for hand-drawn animation, has been critical of AI in animation.

Users shared AI-generated Ghibli-style images, including personal photos, famous images, and memes. OpenAI encouraged the trend, with CEO Sam Altman changing his profile picture to a similar image. The company stated it avoids mimicking living artists but permits broader studio styles.

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Studio Ghibli has not commented, but Miyazaki’s past remarks resurfaced, calling AI animation an “insult to life itself.” Legal experts questioned whether OpenAI had the right to train its AI on Ghibli’s work. While “style” isn’t copyrightable, AI-generated works could still resemble copyrighted material.

Artists criticised OpenAI for exploiting Ghibli’s reputation without consent. The controversy intensified when the White House used AI to create a Ghibli-style image of a detained immigrant, fueling further backlash.

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