Nov
01
2018
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DeepMap, a maker of HD maps for self-driving, raised at least $60M at a $450M valuation

As car and tech companies continue to make inroads on vehicles and services to build autonomous driving systems, a startup that is creating high-definition maps to help these vehicles move around has quietly picked up a significant round of funding.

DeepMap — a Palo Alto startup co-founded by James Wu and Mark Wheeler, who previously helped build maps and more at Google, Apple and Baidu — has raised a significant round of growth funding at a valuation of at least $475 million to expand its technology stack and its reach into more markets beyond its current footprint of the U.S. and China.

Founded in 2016, DeepMap has been relatively quiet since raising $25 million in 2017, but news about this round has been trickling out for the last few months. In July, the company filed papers for a $60 million Series B round. In August, it noted that Nvidia had joined the round, which by that point was “oversubscribed” but still not closed.

And today, Generation Investment Management — the VC firm that counts former Vice President Al Gore and others among its co-founders — also confirmed that it is part of that Series B, along with previous investors Andreessen Horowitz, Accel Partners and GSR Ventures, and new investor Robert Bosch Venture Capital. PitchBook notes that the round puts the valuation of DeepMap at $450 million post-money. However, with Generation added to the mix, both the size of the Series B and the valuation might be higher.

We’ve asked and Generation and DeepMap are not disclosing those details, but they have said that the investment is being made because the interests of the startup are in line with that of the VC.

“DeepMap and Generation share the deeply-held belief that autonomous vehicles will lead to environmental and social benefits,” said Wu, who is the CEO of DeepMap (Wheeler is the CTO), in a statement. “We are delighted to work with the talented team at Generation. We consider Generation to be a value-added investor, whose insights and mission-aligned network will be of great advantage as we scale, especially in Europe.”

DeepMap is not exactly in stealth mode, but it also doesn’t disclose much about what it is working on specifically, nor how the funding will be used. (But it is hiring, mostly in engineering roles, in Palo Alto and Beijing.)

Companies like Waymo are expanding their autonomous driving tests, Lyft is buying companies to help ingest more driving data more easily and just this week Baidu announced new car plans with Volvo and Ford, but there are still some crucial pieces that need to be put in place for self-driving to become a wide-scale reality, and one of them is building systems that have an accurate reading of the roads they are driving on.

HD mapping will play a key role in that regard, helping make systems more accurate with real-time localization features that respond to road types and driving conditions. DeepMap says that it provides centimeter-specific accuracy using “real-world data, not models” and the ability to incorporate 3D landmark features and full 3D environments using “true LiDAR intensity and RGB values data” for simulation tools.

While DeepMap does not detail its products on its site, one report describes its offering as including hardware tools, software solutions, field data collection services, and a service that is able to translate the self-driving fleet data that companies are now in the process of collecting “into their own personalized HD maps.” The same report claimed that DeepMap charges about $5,000 per kilometer for mapping services in the U.S.

DeepMap is also not the only company working on addressing this need for better and more accurate mapping: mapping startup Camera is also raising money to build its service; DeepMap’s investor Nvidia is also working on this problem; and lvl5 is another name we’ve also seen mentioned in this context.

The funding, and these partnerships, will likely help DeepMap cement its position on the map, so to speak, as all of these continue to grow.

“DeepMap is perfectly placed to address the imminent needs of autonomous vehicles. These vehicles will require HD maps and localization modules which are real-time, scalable, economically-viable, and machine-readable, something which DeepMap can deliver through its unique approach,” said Lilly Wollman, co-head of Generation’s Growth Equity team, in a statement. “We are very excited to partner with one of the most technically impressive and experienced teams in the industry.”

May
30
2018
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Here’s Mary Meeker’s essential 2018 Internet Trends report

Want to understand all the most important tech stats and trends? Legendary venture capitalist Mary Meeker has just released the 2018 version of her famous Internet Trends report. It covers everything from mobile to commerce to the competition between tech giants. Check out the full report below, and we’ll add some highlights soon. Then come back for our slide-by-slide analysis of the most important parts of the 294 page report.

  • Internet adoption: As of 2018, half the world population, or about 3.6 billion people, will be on the internet. That’s thanks in large part to cheaper Android phones and Wifi becoming more available, though individual services will have a tougher time adding new users as the web hits saturation.
  • Mobile usage: While smartphone shipments are flat and internet user growth is slowing, U.S. adults are spending more time online thanks to mobile, clocking 5.9 hours per day in 2017 versus 5.6 hours in 2016.
  • Mobile ads: People are shifting their time to mobile faster than ad dollars are following, creating a $7 billion mobile ad opportunity, though platforms are increasingly responsible for providing safe content to host those ads.
  • Crypto: Interest in cryptocurrency is exploding as Coinbase’s user count has nearly quadrupled since January 2017
  • Voice: Voice technology is at an inflection point due to speech recognition hitting 95% accuracy and the sales explosion for Amazon Echo which went from over 10 million to over 30 million sold in total by the end of 2017.
  • Daily usage – Revenue gains for services like Facebook are tightly coupled with daily user growth, showing how profitable it is to become a regular habit.
  • Tech investment: We’re at an all-time high for public and private investment in technology, while the top six public R&D + capex spenders are all technology companies.

Mary Meeker, analyst with Morgan Stanley, speaks during the Web 2.0 Summit in San Francisco, California, U.S., on Tuesday, Nov. 16, 2010. This year’s conference, which runs through Nov. 17, is titled “Points of Control: The Battle for the Network Economy.” Photographer: Tony Avelar/Bloomberg via Getty Images

  • Ecommerce vs Brick & Mortar: Ecommerce growth quickens as now 13% of all retail purchases happen online and parcel shipments are rising swiftly, signaling big opportunities for new shopping apps.
  • Amazon: More people start product searches on Amazon than search engines now, but Jeff Bezos still relies on other surfaces like Facebook and YouTube to inspire people to want things.
  • Subscription services: They’re seeing massive adoption, with Netflix up 25%, The New York Times up 43%, and Spotify up 48% year-over-year in 2017. A free tier accelerates conversion rates.
  • Education: Employees seek retraining and education from YouTube and online courses to keep up with new job requirements and pay off skyrocketing student loan debt.
  • Freelancing: Employees crave scheduling and work-from-home flexibility, and internet discovery of freelance work led it to grow 3X faster than total workforce growth. The on-demand workforce grew 23% in 2017 driven by Uber, Airbnb, Etsy, Upwork, and Doordash.
  • Transportation: People are buying fewer cars, keeping them longer, and shifting transportation spend to rideshare, which saw rides double in 2017.
  • Enterprise: Consumerization of the enterprise through better interfaces is spurring growth for companies like Dropbox and Slack.
  • China: Alibaba is expanding beyond China with strong gross merchandise volume, though Amazon still rules in revenue.
  • Privacy: China has a big opportunity as users there are much more willing to trade their personal data for product benefits than U.S. users, and China is claiming more spots on the top 20 internet company list while making big investments in AI.
  • Immigration: It is critical to a strong economy, as 56% of top U.S. companies were founded by a first- or second-generation immigrant.

May
23
2018
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Meet the speakers at The Europas, and get your ticket free (July 3, London)

Excited to announce that this year’s The Europas Unconference & Awards is shaping up! Our half day Unconference kicks off on 3 July, 2018 at The Brewery in the heart of London’s “Tech City” area, followed by our startup awards dinner and fantastic party and celebration of European startups!

The event is run in partnership with TechCrunch, the official media partner. Attendees, nominees and winners will get deep discounts to TechCrunch Disrupt in Berlin, later this year.
The Europas Awards are based on voting by expert judges and the industry itself. But key to the daytime is all the speakers and invited guests. There’s no “off-limits speaker room” at The Europas, so attendees can mingle easily with VIPs and speakers.

What exactly is an Unconference? We’re dispensing with the lectures and going straight to the deep-dives, where you’ll get a front row seat with Europe’s leading investors, founders and thought leaders to discuss and debate the most urgent issues, challenges and opportunities. Up close and personal! And, crucially, a few feet away from handing over a business card. The Unconference is focused into zones including AI, Fintech, Mobility, Startups, Society, and Enterprise and Crypto / Blockchain.

We’ve confirmed 10 new speakers including:


Eileen Burbidge, Passion Capital


Carlos Eduardo Espinal, Seedcamp


Richard Muirhead, Fabric Ventures


Sitar Teli, Connect Ventures


Nancy Fechnay, Blockchain Technologist + Angel


George McDonaugh, KR1


Candice Lo, Blossom Capital


Scott Sage, Crane Venture Partners


Andrei Brasoveanu, Accel


Tina Baker, Jag Shaw Baker

How To Get Your Ticket For FREE

We’d love for you to ask your friends to join us at The Europas – and we’ve got a special way to thank you for sharing.

Your friend will enjoy a 15% discount off the price of their ticket with your code, and you’ll get 15% off the price of YOUR ticket.

That’s right, we will refund you 15% off the cost of your ticket automatically when your friend purchases a Europas ticket.

So you can grab tickets here.

Vote for your Favourite Startups

Public Voting is still humming along. Please remember to vote for your favourite startups!

Awards by category:

Hottest Media/Entertainment Startup

Hottest E-commerce/Retail Startup

Hottest Education Startup

Hottest Startup Accelerator

Hottest Marketing/AdTech Startup

Hottest Games Startup

Hottest Mobile Startup

Hottest FinTech Startup

Hottest Enterprise, SaaS or B2B Startup

Hottest Hardware Startup

Hottest Platform Economy / Marketplace

Hottest Health Startup

Hottest Cyber Security Startup

Hottest Travel Startup

Hottest Internet of Things Startup

Hottest Technology Innovation

Hottest FashionTech Startup

Hottest Tech For Good

Hottest A.I. Startup

Fastest Rising Startup Of The Year

Hottest GreenTech Startup of The Year

Hottest Startup Founders

Hottest CEO of the Year

Best Angel/Seed Investor of the Year

Hottest VC Investor of the Year

Hottest Blockchain/Crypto Startup Founder(s)

Hottest Blockchain Protocol Project

Hottest Blockchain DApp

Hottest Corporate Blockchain Project

Hottest Blockchain Investor

Hottest Blockchain ICO (Europe)

Hottest Financial Crypto Project

Hottest Blockchain for Good Project

Hottest Blockchain Identity Project

Hall Of Fame Award – Awarded to a long-term player in Europe

The Europas Grand Prix Award (to be decided from winners)

The Awards celebrates the most forward thinking and innovative tech & blockchain startups across over some 30+ categories.

Startups can apply for an award or be nominated by anyone, including our judges. It is free to enter or be nominated.

What is The Europas?

Instead of thousands and thousands of people, think of a great summer event with 1,000 of the most interesting and useful people in the industry, including key investors and leading entrepreneurs.

• No secret VIP rooms, which means you get to interact with the Speakers

• Key Founders and investors speaking; featured attendees invited to just network

• Expert speeches, discussions, and Q&A directly from the main stage

• Intimate “breakout” sessions with key players on vertical topics

• The opportunity to meet almost everyone in those small groups, super-charging your networking

• Journalists from major tech titles, newspapers and business broadcasters

• A parallel Founders-only track geared towards fund-raising and hyper-networking

• A stunning awards dinner and party which honors both the hottest startups and the leading lights in the European startup scene

• All on one day to maximise your time in London. And it’s PROBABLY sunny!

europas8

That’s just the beginning. There’s more to come…

europas13

Interested in sponsoring the Europas or hosting a table at the awards? Or purchasing a table for 10 or 12 guest or a half table for 5 guests? Get in touch with:
Petra Johansson
Petra@theeuropas.com
Phone: +44 (0) 20 3239 9325

Jan
09
2018
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IBM led on patents in 2017, Facebook broke into top 50 for the first time

 Patents may sometimes get a bad rap for how they are abused (and misused) by some companies for commercial gain, but they also remain a marker of how a tech company is progressing with its R&D and pushing ahead on innovation. For one measure of that advance, today, IFI Claims, the patent analytics firm, published its 2017 list of companies with the most U.S. patents assigned for the year.… Read More

Nov
28
2017
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Mapping company Here buys ATS to boost its over-the-air tech

 Here, the mapping company that powers location services in 100 million cars, is today announcing an acquisition to vastly improve how it distributes and updates its data. The company is buying Advanced Telematic Systems (ATS), a Berlin-based developer of secure over-the-air (OTA) technology, the basis for how wireless devices — including not just cars but smartphones and other… Read More

Aug
23
2017
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Cubic Telecom gets $46.5M to connect cars and other devices globally

 As automakers ramp up their connected car initiatives, a company that has built a solution to link vehicles up to mobile networks globally has raised a significant round of funding from a group of investors that includes Audi and Qualcomm.
Cubic Telecom, a startup out of Dublin, Ireland, that has built a virtual networking solution that lets cars (and other devices) automatically connect to… Read More

Jul
13
2017
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BMW to include Skype for Business in-car via iDrive

 BMW is doing more with partner Microsoft to bring productivity to its vehicles. After adding Office 365 communications features to its BMW 5 series late last year, it’s now also bringing Skype for Business to its infotainment features, making it possible for users to connect to Skype meetings in the car. The Skype integration is going to be integrated into BMW’s iDrive system, and… Read More

May
31
2017
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Read Mary Meeker’s essential 2017 Internet Trends report

 This is the best way to get up to speed on everything going on in tech. Kleiner Perkins venture partner Mary Meeker’s annual Internet Trends report is essentially the state of the union for the technology industry. The widely anticipated slide deck compiles the most informative research on what’s getting funded, how Internet adoption is progressing, which interfaces are resonating,… Read More

May
16
2017
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To stop hackers from invading self-driving cars, Karamba Security raises $12 million

 By 2020, an estimated 75 percent of cars will be internet-connected worldwide, according to estimates from the FBI, Department of Transportation and the National Highway Traffic Safety Administration. That connectivity will allow drivers to tap into life-saving safety features and make self-driving cars a reality. But it also makes vehicles vulnerable to malicious hackers. Read More

May
03
2017
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Mapillary opens up 25k street-level images to train automotive AI systems

 As more companies wade into the business of building artificial intelligence systems to help you drive (or do the driving for you), a startup founded by an ex-Apple computer vision specialist is open sourcing a huge dataset that can help them on their road to autonomy.
Mapillary, a Swedish startup backed by Sequoia, Atomico and others that has built a database of 130 million images through… Read More

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