German chip giant lowers 2024 forecast as electronics slowdown bites

May07
by on May 7, 2024 at 12:55 pm
Posted In: Uncategorized


Infineon, one of the biggest chip makers in Europe, has lowered its revenue outlook for the year, citing “weak” demand from its major target markets. The German company is now expecting a revenue of €15.1bn, plus or minus €400mn. That’s down from the previous forecast of €16bn, plus or minus €500mn. In the second quarter of 2024, Infineon saw a 2% drop in revenue compared to the previous quarter, generating €3.36bn. The decline stands, however, at 12% year-on-year. Revenue in the first quarter of 2024 also decreased by 11% compared to the last quarter of 2023. Jochen Hanebeck, Infineon’s CEO,…

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This startup is using protein powder to beef up carbon capture

May06
by on May 6, 2024 at 11:51 am
Posted In: Insider


A British startup has devised a way to speed-up enhanced rock weathering using protein powder in a potential step forward for the budding carbon capture industry.  Enhanced rock weathering (ERW) involves spreading silicate rock dust on fields to capture carbon. When it rains, the dust reacts with the CO2 in the droplets, permanently storing it in the rocks as carbonate (think chalk or baking soda). This relatively simple technology has taken off in recent years, attracting funding from the likes of Meta, Google, and Microsoft. However, there are a few kinks that need ironing out.  One issue is that ERW…

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Uber rival Bolt secures €220M in prep for IPO

May03
by on May 3, 2024 at 2:38 pm
Posted In: Uncategorized


Estonian mobility startup Bolt has secured a €220mn credit facility as it plans to go public next year.   This type of financing is a more flexible loan option, which allows a business to withdraw and repay funds as needed, on an ongoing basis. Kind of like a credit card for companies.  The credit facility provides Bolt “with additional flexibility as we work towards being IPO-ready,” CEO and founder Markus Villig said in a statement. Lenders include Barclays, Deutsche Bank, Goldman Sachs, and JPMorgan. The money supplements Bolt’s “strong cash position” and “strengthens its liquidity profile,” the company said. Alongside…

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Deeptech VC raises €300M in push for ‘semiconductor supremacy’

May03
by on May 3, 2024 at 10:50 am
Posted In: artificial intelligence, Insider


Flemish venture capital firm Imec.xpand has raised €300mn to invest in deeptech startups.    The VC is a spinoff from Leuven-based Imec, one of the world’s largest microelectronics research institutions.  The new fund targets  AI, semiconductors, nanotechnology, photonics, and quantum computing. It will also invest in startups working on new ways to diagnose and treat medical conditions.    To date, Imec.xpand has invested in 23 companies that have so far raised a combined €1.5bn in funding. This includes two unicorns — companies valued at €1bn or more. Imec.xpand recently opened a new office in the Netherlands, according to Dutch newspaper Het Financieele…

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AI-powered ‘deep medicine’ could transform healthcare in the NHS

May02
by on May 2, 2024 at 6:00 pm
Posted In: Future of Work


Today’s NHS faces severe time constraints, with the risk of short consultations and concerns about the risk of misdiagnosis or delayed care. These challenges are compounded by limited resources and overstretched staff that results in protracted patient wait times and generic treatment strategies. Staff can operate with a surface level view of patient data, relying on basic medical histories and recent test results. This lack of comprehensive data interferes with their ability to fully understand patient needs and compromises the accuracy and individualisation of diagnoses and treatments. Such a healthcare approach, characterised by these limitations and engagements, could aptly be…

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