Nozomi Networks Gets $30m More For Dominating Industrial Cyber Security

Lux Capital co-led Series A of Nozomi Networks in October 2016, and has been a major investor in every round since. Company’s growth and commercial traction since then has been nothing short of outstanding, and I am proud of my partnership with Edgard, Andrea, Morena and the rest of the team towards success we have seen to date. So its not a surprise that Lux is doubling down in a $30M round of financing that Nozomi is announcing today. Our US co-investors include GGV and Energize VC. Our significant European partners and investors include Planven and THI.

Nozomi Networks is the world leader in industrial cyber security solutions. If you don’t fully understand what that means, consider that our critical infrastructure, utilities, power plants, oil and gas facilities, manufacturing plants, mining, entertainment complexes — basically any place where complex and large electromechanical systems are used — are all potentially under threat from external and internal

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Talent will determine the world’s next tech investment hubs


GUEST: For years, Silicon Valley wasn’t the main place many venture capitalists looked for deals — it was the only place. But the Bay Area is beginning to lose its once vice-like grip on talented workers, and its startup investment market is looking dangerously overheated. Now VCs are lifting their gaze from California and scouting for North…Read More

Glasswing Ventures raises $112 million for AI-focused fund

Glasswing Ventures
Glasswing Ventures, an early-stage venture capital firm based in Boston, Massachusetts, announced that it has raised $112 million for an AI-focused fund it claims is the largest of its kind on the East Coast. The capital — which was raised over the course of 18 months from a mix of pension funds, family offices, and foundation and university…Read More

10 Things That Will Change Manufacturing Forever

The tension between factory workers, manufacturers and technology — building since the first robot began working the line at GM in 1961 — has reached a fever pitch.

Even the most tech-forward companies have struggled to find the right balance. In April, Tesla CEO Elon Musk blamed part of the company’s Model 3 delays on a “production hell” caused by “too many robots.”

New technologies are ushering in a new age of manufacturing: one that will help companies produce more high-quality goods faster and cheaper, while also enabling more innovation and economic opportunity.

At my firm, Lux Capital, we have been investing in automation technologies for many years. Here are ten trends and innovation spaces we see that are changing manufacturing for the better:

Can Artificial Intelligence Solve Everything?

Last night I went to FinTank‘s panel discussion on artificial intelligence at the CBOE.  It mostly related to trading and artificial intelligence.  It was an interesting discussion and I learned a few things.  AI is being used 24/7 in stock and commodity markets already.  It has been used for the past few years as trading operations try and find anomalies in the market.

I took a quick picture of the CBOE floor. I never traded on it. The floor at the CBOE was always smaller than the CBOT and CME. But, there were some tremendous traders there and some great companies that were started there like OptionsExpress and ThinkorSwim.  As we know, AI and technology made floors like this basically obsolete.

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Does AI work better than humans?  The answer is “Yes it does in most Continue reading "Can Artificial Intelligence Solve Everything?"

A peek inside Alphabet’s investing universe

 Chances are you’ve heard of Google. You’re likely a contributor to one of the 3.5 billion search queries the website processes daily. But unless you’re a venture capitalist, an entrepreneur or a slightly obsessive tech journalist, you may not know that Google, or, more properly, Alphabet, is also invests in startups. And, like most of what Google does, Alphabet invests… Read More

AlphaZero Chess: Computers Will Think Differently from Humans, Letting them Outperform Us (on Many Tasks)

Planes fly differently from birds. Cars move differently from horses. And computers think differently from humans. That had always been my assumption but if you needed more proof, Google’s AlphaZero program, which had previously shown novel ways of playing Go, has just learned how to play chess incredibly well. It did so in 24 hours and without studying any prior games. Instead it just played games following the rules of the movement of pieces and learned from that.

I encourage everyone to check out the technical paper on Arxiv, as it contains many fascinating insights. But today I want to focus instead on a key high level implication: Computers are not constrained to learning and thinking like humans. And for many, many tasks that will give them at an extraordinary advantage over humans. Just like mechanized transport turned out to be superior to horses in almost all circumstances.

Our Continue reading "AlphaZero Chess: Computers Will Think Differently from Humans, Letting them Outperform Us (on Many Tasks)"

Will AI match randomness of a human mind?

The other Sunday, I was sitting in Sightglass, chatting with a friend and having coffee. It is what I usually do on the weekend, talk to friends in real life. He stepped away for a few minutes and all I heard between the strains of rock music, the constant rhythmic noise of the belt of the coffee roaster. It was a very mechanical and sweet sound. It was only a few seconds, but I was immediately taken back to when I was six years old. Continue reading "Will AI match randomness of a human mind?"

Should You Fear For Your Job if AI and Big Data Can Do It?

There is a huge amount of fear of artificial intelligence and big data.  What are we all going to do?  The New Yorker put fear on its cover. Have we gone too far in our fear?

Probably.  It doesn’t mean society doesn’t need to be proactive in dealing with the aftershocks of new technology but we are probably hand-wringing a bit too much.

In September, I was an advisor to the G7 on Big Data, Artificial Intelligence and The Future of Work.  We talked about a lot of subjects.  One of the more interesting things that happened was when our group came up with a statement that was given to the bureaucrats of the G7 countries to digest and turn into policy.  Unbeknownst to the participants, Diego Piacentini and his compatriots were loading millions of bytes of information into a supercomputer that used artificial Continue reading "Should You Fear For Your Job if AI and Big Data Can Do It?"

Obama’s former chief data scientist, DJ Patil, joins Venrock as an adviser

 DJ Patil, the chief data scientist under President Barack Obama, has joined Venrock Capital as an adviser. Patil has long been a proponent of using data science and artificial intelligence to solve some of the nation’s biggest problems around areas including medicine, policing and the criminal justice system. “My primary focus is building new models to improve healthcare and… Read More

Famed VC Jim Breyer on finding the next Mark Zuckerberg (and much more)

 Yesterday, at the Web Summit conference in Lisbon, we caught up with Jim Breyer, among the most famous venture capitalists in Silicon Valley thanks to a decades-long track record of smart bets, most notably in Facebook. Breyer was the managing partner at Accel Partners, which invested $12.7 million in Facebook in 2005 when the company was priced around $100 million; that bet proved to be… Read More

a16z Podcast: Putting AI in Medicine, in Practice

There’s been a lot of talk about technology — and AI, deep learning, and machine learning specifically — finally reaching the healthcare sector. But AI in medicine isn’t actually new; it’s actually been there since the 1960s. And yet we …

Evolve Foundation launches a $100 million fund to find startups working to relieve human suffering

 It seems there’s nothing but bad news out there lately, but here’s some good news — the nonprofit Evolve Foundation has raised $100 million for a new fund called the Conscious Accelerator to combat loneliness, purposelessness, fear and anger spreading throughout the world though technology. Co-founder of Matrix Partners China Bo Shao will lead the fund and will be looking… Read More

Berlin’s Ada Health raises $47 million for global expansion of its AI-driven medical app


Using a mix of artificial intelligence and human doctors, Ada Health has seen a surge of users for its telemedicine app that has investors swooning and ready to bet big on the Berlin-based startup.

Today, Ada Health announced it has raised $47 million in venture capital in a funding round led by Access Industries, June Fund, and Berlin-based Cumberland VC. In addition, the company said that William Tunstall-Pedoe, an AI entrepreneur who originally helped develop Amazon’s Alexa, also invested in the round.

“The future of healthcare lies in a much more patient-centric model where individuals have actionable insights at their fingertips, and doctors and artificial intelligence work together to support patients throughout their healthcare journey,” said Daniel Nathrath, CEO and co-founder of Ada Health, in a statement. “We’ve seen incredible traction since launch, receiving countless messages each day about how we’ve helped someone identify an important health issue and get to Continue reading "Berlin’s Ada Health raises $47 million for global expansion of its AI-driven medical app"

New seed funds pursue AI, hard tech and the Midwest

 Stories about seed funding often contain sappy metaphors about planting seedlings and nurturing them to maturity. In reality, it’s a brutally Darwinian business: most companies fail, successful ones get diluted and exits commonly take a decade or more. That said, seed also has the highest potential returns of any investment stage. Here are some trends we observed. Read More