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Qortex, which uses AI to target ads in streaming TV, online video, and video games, said Monday it had raised a $6 million Series A round, led by GFT Ventures. Because Qortex's technology analyzes what's happening in the video frame-by-frame, it understands what's happening at a very granular level, said Rosenberg. For instance, Rosenberg said Qortex could help publishers identify strobing lights in video to remain ADA compliant, or quickly scan video archives to find specific content. While GFT has invested in about 10 companies so far Herbst said, Qortex is "one of the first and honestly one of my favorites." Check out select slides from the pitch deck that helped Qortex raise its $6 million Series A round.
Persons: Zack Rosenberg, Qortex, Rosenberg, Jeff Herbst, Herbst, Mark Pedowitz, Sid Mookerji, GFT Organizations: GFT Ventures, Silicon Road Ventures, Business, GFT, Nvidia, CW Network, Silicon, Ventures, NHL, Allstate
SINGAPORE, Sept 19 (Reuters) - Global Frontier Technology Ventures (GFT), a venture capital firm launched by former Nvidia and Samsung executives, on Tuesday said it has raised $140 million for its inaugural fund. The Palo Alto-headquartered fund will focus on investing in early-stage artificial intelligence (AI) startups and other firms focusing on cutting-edge science, known as "deep tech." "Given the transformational shift (caused by AI and data science), there's a huge opportunity to invest in startups that are leveraging those technologies." Herbst previously led business development and startup investments at U.S AI powerhouse Nvidia (NVDA.O), while other-co founder Jay Eum was formerly the managing director of Korean technology giant Samsung's (005930.KS) corporate investment arm. Earlier investments by GFT ventures include South Korean autonomous trucking company Mars Auto, U.S data engineering platform automation platform Switchboard and U.S health tech startup Mighty Health.
Persons: Jeff Herbst, Herbst, Jay Eum, Fanny Potkin, Varun Organizations: Frontier Technology Ventures, Nvidia, Samsung, U.S, Reuters, Mars Auto, Health, Thomson Locations: SINGAPORE, Alto, Israel, Asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEx-Nvidia executive on latest fund raised for his new VC firm: 'We look to fund the next Databricks'Jeff Herbst, Co-Founder & Managing Partner at GFT Ventures says his investments will focus on "solving really hard problems for really big markets with incredible founders".
Persons: Jeff Herbst Organizations: Nvidia, GFT Ventures
In an internal Slack channel, Amazon staff shared team names and job levels to add clarity to the process. As Amazon began the largest layoffs in company history on Wednesday, an internal Slack channel blew up with employees sharing details about the job cuts. The layoffs-related Slack channel has over 37,000 members. "It's been moving so fast, I can't keep up with scrolling," another person told Insider about the Slack channel. Many employees in the Slack channel expressed shock and surprise.
Like other Wall Street firms upended by the technology, PE firms' motivation to make the move is tied to harnessing the copious amounts of data they manage. GFT works with more than 20 private-equity firms for digital transformation, including a handful of tier-one PE companies, he said. Some PE firms have tried to leverage their scale for pricing discounts among cloud providers, Mahenthiran said. Major cloud providers, like AWS, Microsoft Azure, and Google Cloud Platform, have been hungry for more Wall Street market share. That hasn't stopped PE firms from trying to hire out data-science and cloud teams to help front-office researchers find new opportunities and oversee internal cloud infrastructure, Vyas said.
Like other Wall Street firms upended by the technology, PE firms' motivation to make the move is tied to harnessing the copious amounts of data they manage. GFT works with more than 20 private-equity firms for digital transformation, including a handful of tier-one PE companies, he said. Some PE firms have tried to leverage their scale for pricing discounts among cloud providers, Mahenthiran said. Major cloud providers, like AWS, Microsoft Azure, and Google Cloud Platform, have been hungry for more Wall Street market share. But the wait-and-see approach has put PE companies far behind their Wall Street peers.
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