$45B valuation — Revolut becomes Europe’s most precious private tech firm

Aug16
by on August 16, 2024 at 1:55 pm
Posted In: Uncategorized


UK fintech Revolut has been valued at $45bn following a share sale by employees, making it Europe’s most valuable private tech company and shaking up the world of traditional finance.  An employee share sale is when staff sell their company shares either to the company they work for, external investors, or on the open market. In Revolut’s case, its employees sold a portion of their shares to investors including Coatue, D1 Capital Partners, and Tiger Global, among others.   Revolut’s new valuation puts it above the market capitalisation of most of Britain’s oldest banks, including Barclays, Lloyds Bank, and NatWest. Only…

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British police to test drone flights beyond the line of sight

Aug15
by on August 15, 2024 at 3:36 pm
Posted In: Uncategorized


British police will experiment with uncrewed aircraft as part of new drone trials in the UK. Britain’s aviation regulator has backed the project, which the National Police Air Service (NPAS) will lead. The tests will focus on flights “beyond the visual line of sight” — meaning the operators won’t see their drones. The police will instead rely on tech for navigation, control, and detection of other aircraft.  NPAS has high hopes for the approach. In 2021, the service launched a “Futures and Innovation Team” to explore flights beyond the visual line of sight. The team envisions the drones joining a…

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Mozart and the digital twin for music

Aug15
by on August 15, 2024 at 1:27 pm
Posted In: Insider


Although Mozart has no living descendants, his music still has countless inheritors. The latest in the lineage — born just this summer — is a digital twin. German tech giant Siemens conceived the prodigious clone. Last month, the company brought the system to Mozart’s hometown of Salzburg. Located at the foot of the Alps, the scenic city is hosting the prestigious Salzburg Festival of music and theatre. Classical notes are soaring through the sultry air. They’re sweeping across outdoor stages and around opera halls. Some have even entered the digital twin. Like every digital twin, the system is a virtual model…

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Norway wealth fund credits tech for $138B profit but envisions market crash

Aug14
by on August 14, 2024 at 4:38 pm
Posted In: Uncategorized


Norway’s sovereign wealth fund is celebrating a $138 billion profit from the first half of the year, but has put the champagne on ice. The $1.6 trillion fund credited the returns to investments in tech. Driven by surging demand for AI, technology stocks surged during early 2024. Norway’s sovereign wealth fund — the largest in the world — reaped the benefits. Its equity portfolio gained 12% in the six months through June. Nvidia provided the largest cash injection. Microsoft, Google, Amazon, and TSMC also chipped in big sums. Over a quarter of its equity investments (26%) are now in tech. But…

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Dawn Aerospace is proving that spaceplanes aren’t rocket science

Aug13
by on August 13, 2024 at 3:25 pm
Posted In: Insider, Space


Dawn Aerospace is a small startup with big ambitions: to build the first vehicle to fly over 100 km above the Earth — twice in one day.     A couple of weeks back, the budding company — headquartered in the Netherlands and New Zealand — took a major step toward that goal. Its reusable, rocket-powered Mk-II Aurora aircraft reached speeds of Mach 0.92 (967 km/h) at altitudes over 15km. While far from its eventual target, that is three times the speed and five times the height of its previous test, conducted last year. The startup has more flights scheduled for…

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