Author: Neuralnexus

Loop, the car insurance company co-founded by Harlem Capital co-founder John Henry, has laid off staff as the company struggles with fundraising.

Background on Loop

Loop was founded in 2020 by John Henry and Carey Nadeau. According to Henry’s LinkedIn profile, he stepped down from his role as a venture partner at Harlem Capital to focus on Loop. The company launched out of stealth mode in 2021, raising $3.25 million in seed funding led by Freestyle VC, with participation from Backstage Capital and Uprising Ventures.

Fundraising Troubles

Despite its early success, Loop has struggled to raise additional capital. In a June 16th email, Nadeau wrote that the company had been unsuccessful in raising additional capital after 20 months of trying. The email stated that the last opportunity had an investor pull out at the very final hour, and the company just fell short.

Layoffs

The layoffs were announced by Henry on Instagram, who posted a copy of Nadeau’s email to impacted staff. According to a LinkedIn post by a former employee, the cuts affected people in various departments, including insurance agents, customer care, data analytics, marketing, software engineering, and product.

Reaction from Other Black Founders

Other Black founders rushed to empathize and express their support for Loop on Instagram. Melissa Butler, founder of The Lip Bar, wrote: "It’s tough out here right now… Thank you for sharing your journey with us."

The Larger Context: Fundraising Challenges for Black Founders

Data on Venture Capital Funding

According to TechCrunch, Black founders raised less than 1% of all venture capital funding last year. This number has continued to dwindle as the promises to back more Black founders made after the murder of George Floyd have diminished in recent years.

Slow Funding Rates Across the Board

2024 continues to be a difficult fundraising year across the board, with slow funding rates since 2018 reported by Crunchbase. Outside of select areas like AI, venture capital funding has slowed significantly.

Conclusion

The layoffs at Loop are just one example of the challenges facing startups and Black founders in particular. With fundraising troubles rampant, it’s essential for companies to be prepared for difficult times ahead.

Related News

• Uber CEO Dara Khosrowshahi resigns from self-driving truck startup Aurora’s board
• Inside the wild fall and last-minute revival of Bench, the VC-backed accounting startup that imploded over the holidays
• Cloudflare’s VPN app among half-dozen pulled from Indian app stores

Stay Up-to-Date on Venture Capital News

Follow TechCrunch for the latest news on venture capital funding, startups, and more. Sign up for our newsletters to stay informed about the industry’s biggest stories.

Contact Us

Reach out to us at +1 (646)-831-7565 or via email to get in touch with our team.

CEO Jensen Huang Outlines Nvidia’s Vision for Artificial Intelligence

In a keynote address at the Consumer Electronics Show (CES) 2025, Nvidia CEO Jensen Huang laid out the company’s ambitious plans for artificial intelligence in both consumer and enterprise settings. The speech highlighted several new software technologies designed to help train humanoid robots and power various AI applications.

A New AI Chip: GB10

One of the most significant announcements from the keynote was the introduction of the GB10, a new AI superchip developed by Nvidia. While not a direct successor to the Blackwell chip unveiled at GTC 2024, the GB10 is a scaled-down version of Nvidia’s high-powered GB200 platform.

The GB10 combines one Blackwell graphics processing unit (GPU) with a Grace central processing unit (CPU), making it an attractive option for desktop AI computing. According to Huang, the GB10 is already in full production and expected to be available by May 2025. The chip will be featured in Project DIGITS, a desktop system that includes 128GB of unified memory and 4TB of storage.

Project DIGITS: A Desktop AI Computing System

Nvidia’s Project DIGITS offers an innovative solution for individuals and organizations seeking to leverage the power of AI without breaking the bank. By integrating the GB10 with ample memory and storage, Project DIGITS enables users to create a capable AI computing system that can be used for various applications, from robotics to autonomous vehicles.

Cosmos: A Platform for Developing Physical AI Systems

Nvidia also showcased its Cosmos platform, designed specifically for developing physical AI systems such as robots and self-driving vehicles. The platform utilizes world foundation models (WFMs), which simulate real-world conditions in a virtual setting.

This allows developers to test and refine the software needed to power these complex systems without requiring expensive hardware or putting people at risk on public roads. By leveraging Cosmos, companies can accelerate the development process for AI-powered robots and vehicles, ultimately leading to safer and more efficient operations.

Isaac GROOT Blueprint: Teaching Humanoid Robots

Nvidia’s Isaac GROOT Blueprint software is another significant advancement in AI training. Developers will be able to use this platform via Apple’s Vision Pro headset to teach humanoid robots how to perform specific tasks and navigate various scenarios. This capability has far-reaching implications for industries such as healthcare, manufacturing, and logistics.

Autonomous Vehicles: A Multi-Trillion-Dollar Industry

Huang predicted during the keynote that the autonomous vehicle revolution is on the verge of arriving. With multiple companies already leveraging Nvidia’s automotive suite of technologies to power their advanced driving and autonomous driving systems, this prediction seems increasingly plausible.

Toyota, Continental, and Aurora are among the prominent players in the industry using Nvidia’s solutions to bring autonomous vehicles to market. As Huang noted, this development has the potential to create a new multi-trillion-dollar robotics industry.

Gaming Graphics Cards: GeForce RTX 50 Series

While Nvidia continues to invest heavily in AI technologies, the company hasn’t forgotten its gaming roots. The introduction of the GeForce RTX 50 series for desktop and laptop computers promises significant performance improvements over previous generations.

The top-of-the-line RTX 5090 boasts twice the performance of last year’s RTX 4090, while Nvidia claims that the entry-level RTX 5070 can match the capabilities of its predecessor thanks to advances in proprietary DLSS software. This technology uses AI to render and generate frames for games, enhancing the overall gaming experience.

Conclusion

Nvidia’s keynote address at CES 2025 provided a glimpse into the company’s ambitious plans for artificial intelligence. The introduction of the GB10 AI superchip and Project DIGITS desktop system mark significant advancements in AI computing. Additionally, Nvidia’s Cosmos platform and Isaac GROOT Blueprint software demonstrate the company’s commitment to developing innovative solutions for various industries.

As Huang predicted, the autonomous vehicle revolution is on the horizon, with multiple companies already leveraging Nvidia’s technologies to bring this vision to life. With its continued focus on gaming graphics cards, Nvidia remains a dominant force in the tech industry.

References:

• Nvidia Corporation. (2025). CES 2025 Keynote Address. Retrieved from https://www.nvidia.com/en-us/about-nvidia/ces-2025-keynote-address/
• Yahoo Finance. (2025). Nvidia CEO Jensen Huang Outlines AI Ambitions at CES 2025. Retrieved from https://finance.yahoo.com/news/nvidia-ceo-jensen-huang-outlines-ai-ambitions-at-ces-2025-124300646.html
• StockStory. (2025). Nvidia’s AI Superchip GB10: What You Need to Know. Retrieved from https://www.stockstory.net/nvidias-ai-superchip-gb10-what-you-need-to-know/

Aye Finance Files for $171 Million IPO to Expand Loan Portfolio and Strengthen Capital Base

Table of Contents

• Introduction
• Background on Aye Finance
  • Business Model and Products
  • Valuation and Growth
• IPO Details and Proceeds Allocation
  • Fresh Issue vs. Secondary Sale
  • Use of Proceeds
• Market Context and Competitive Landscape
  • India’s Financial Services Sector
  • Fintech and IPO Trends in India
• Bookrunners and Timeline

Introduction

Aye Finance, a lender targeting small- and medium-sized businesses (SMBs) in India, has filed for an initial public offering (IPO) to raise $171 million. The filing marks the latest development in the Indian fintech sector, which has witnessed significant growth in recent years. In this article, we will delve into Aye Finance’s background, IPO details, and market context.

Background on Aye Finance

Aye Finance is a digital lender that provides business loans to SMBs in the unorganized sector, typically excluded from traditional banking systems. The company has developed proprietary technology and analytics to assess its customers’ creditworthiness, enabling it to lend to businesses that might not qualify for traditional credit.

Business Model and Products

Aye Finance offers various types of business loans, including mortgage, hypothecation, and term credit. Its average loan size is around $1,800, which allows the company to cater to a wide range of small businesses across India. The lender has established itself as a key player in the country’s fintech sector, with 499 branches operating across 22 states.

Valuation and Growth

Aye Finance is currently valued at about $400 million, indicating significant growth potential. As of September, the company had assets under management (AUM) worth $588 million. The lender has raised over $160 million to date, including investments from prominent backers such as Alphabet’s venture arm, CapitalG, and Elevation Capital.

IPO Details and Proceeds Allocation

The IPO comprises a fresh issue of $104 million and a secondary sale by existing investors worth $67 million. Proceeds from the offering will be allocated towards expanding Aye Finance’s loan portfolio and strengthening its capital base. The filing marks an important milestone for the lender, which is seeking to raise capital to accelerate its growth plans.

Fresh Issue vs. Secondary Sale

The fresh issue portion of the IPO represents 61% of the total amount being raised, while the secondary sale by existing investors constitutes 39%. This suggests that Aye Finance’s existing investors are looking to cash out some of their stakes in the company through the IPO process.

Use of Proceeds

Proceeds from the IPO will be used for various purposes, including:

• Expanding the loan portfolio: Aye Finance plans to use a significant portion of the proceeds to expand its loan book and cater to more SMBs across India.
• Strengthening capital base: The lender aims to strengthen its capital base to improve its financial stability and credit profile.
• Enhancing technology and analytics capabilities: Aye Finance will allocate funds towards upgrading its proprietary technology and analytics platform to improve customer assessment and risk management.

Market Context and Competitive Landscape

The Indian fintech sector has witnessed significant growth in recent years, driven by increasing demand for digital financial services. The micro, small, and medium enterprise (MSME) segment accounts for approximately 30% of India’s GDP but faces substantial credit gaps, estimated at over $650 billion.

India’s Financial Services Sector

The Indian financial services sector has been undergoing significant changes in recent years, with the government introducing several initiatives to promote digital lending and financial inclusion. The RBI has also taken steps to regulate the fintech industry, including issuing guidelines for peer-to-peer (P2P) lending platforms.

Fintech and IPO Trends in India

The past year has seen a surge in IPO activity in India’s fintech sector, with several companies filing for listings. Some notable examples include:

• MobiKwik: A digital payments company that filed for an IPO last month.
• Swiggy: An online food delivery platform that listed on the Indian stock exchanges in December 2024.

Bookrunners and Timeline

Axis Capital, IIFL Capital, JM Financial, and Nuvama Wealth Management have been appointed as bookrunners for Aye Finance’s IPO. The filing marks a critical milestone for the lender, which is seeking to raise capital to accelerate its growth plans.

Timeline of Key Events

• January 2025: Aye Finance files for an IPO to raise $171 million.
• February 2025: Bookrunners appointed for the IPO process.
• March-April 2025: IPO prospectus expected to be filed with SEBI.

The IPO filing by Aye Finance marks a significant development in India’s fintech sector, which has witnessed rapid growth in recent years. As the lender seeks to raise capital and expand its loan portfolio, investors will closely watch its progress and market performance.

Since its inception, Meta’s Threads has been experimenting with ways to leverage the network effects of its other social networks, Facebook and Instagram. One such experiment is the integration of Instagram Reels directly into Threads, allowing users to share their Reels on the platform.

The New Feature: Sharing Instagram Reels on Threads

App researcher Alessandro Paluzzi recently discovered that Threads is working on a new feature that will let users pick Reels from their account and post them on Threads. When you tap on the Instagram button in the compose box, you will see a grid with your Instagram posts and Reels. You can then select the Reels that you want to publish on Threads.

How It Works

The new feature is being tested by Meta, but it’s likely to be rolled out widely soon. When you tap on the Instagram button in the compose box, you will see a grid with your Instagram posts and Reels. You can then select the Reels that you want to publish on Threads.

Benefits for Users

Many users already post their Instagram posts and Reels on Threads to gain followers and have better engagement with their content. This new button might make it easier for them to do this. With the integration of Instagram Reels, users can now share a variety of content types directly from Instagram to Threads.

Cross-Posting: A History

Meta has been experimenting with cross-posting features between its social networks. Earlier this year, Meta started testing a feature that automatically cross-posts from Instagram to Threads. The company was also testing a similar feature on Facebook earlier this year.

Carousels and Reach

Last year, Meta started showing carousels of Threads posts on Facebook and Instagram to increase threads’ reach and get more people to use its newest social network. However, some users didn’t like their posts being suggested to others on Instagram and Facebook, so Meta quietly rolled out an option that lets people opt-out from the recommendation program.

Why This Matters

The integration of Instagram Reels into Threads is a significant move by Meta to expand the reach of its social network. By allowing users to share their Instagram content directly on Threads, Meta is making it easier for users to engage with each other across different platforms.

Conclusion

The new feature that allows users to share Instagram Reels on Threads is a step in the right direction for Meta’s Threads. With this integration, users can now easily share a variety of content types directly from Instagram to Threads. This will likely lead to increased engagement and reach for users who participate in cross-posting.

What Do You Think?

Do you think the integration of Instagram Reels into Threads is a good move by Meta? Let us know your thoughts in the comments below!

Related Articles

• Venture: Generative AI funding reached new heights in 2024 Kyle Wiggers
• Apps: What is Bluesky? Everything to know about the X competitor Amanda SilberlingCody CorrallAlyssa Stringer
• Social: Telegram rolls out third-party account verification, filters Ivan Mehta
• In Brief: Judge allows California’s ban on addictive feeds for minors to go into effect Kyle Wiggers
• In Brief: Elon Musk’s pro-Trump critics claim they’re being censored on X Charles Rollet

Instagram, the popular social media platform owned by Meta, is planning to introduce a groundbreaking feature powered by its Movie GenAI model. This innovative technology aims to revolutionize video editing by allowing users to make significant changes to their videos using a simple text prompt.

What’s Next for Instagram?

According to a teaser posted by Instagram head Adam Mosseri, the generative AI editing feature is set to launch next year. Mosseri explains that this new tool will enable creators to "change nearly any aspect of your videos" without requiring extensive video editing or manipulation skills. This means that users can experiment with different ideas and bring their creative visions to life in a more streamlined manner.

The Power of Movie GenAI Model

Meta’s Movie GenAI model is the driving force behind this innovative feature. The model has been specifically designed to preserve human identity and motion, ensuring that edited videos look realistic and authentic. Mosseri highlights the potential of this technology by showcasing early research AI models that demonstrate its capabilities.

Teaser Video: A Sneak Peek

The announcement video features previews of the generative AI editing feature in action. In one scene, Mosseri is transformed into a felt puppet, while another snippet shows him wearing a gold chain around his neck without altering his clothing. The inserted backgrounds and clothing don’t distort unnaturally when Mosseri rapidly moves his arms or face. However, it’s essential to note that these early previews are only a few seconds long.

Comparison with OpenAI’s Sora Model

The video also includes comparisons with OpenAI’s Sora model, which was one of the first AI-powered video editing tools available in the market. While the inserted backgrounds and objects look impressive, the results have not lived up to expectations since its public release. The actual performance of Instagram’s AI video tools will only be apparent once they are launched.

Meta’s Movie Gen AI Video Generator

In October, Meta unveiled its Movie Gen AI video generator, which promises to "preserve human identity and motion" in videos created or edited using the model. Although this announcement was made months after similar models from competitors like OpenAI’s Sora and Adobe’s Firefly Video model, it marks a significant milestone for Meta.

When Can We Expect It?

Meta hasn’t announced when Movie Gen will be available to the public, but Instagram is the first platform that the company has confirmed will utilize the text-to-video model. As more information becomes available, users can expect to see updates on the launch date and availability of this revolutionary feature.

Benefits for Creators

The introduction of generative AI editing features on Instagram will undoubtedly have a significant impact on creators. Some potential benefits include:

• Increased creativity: With the ability to make significant changes using a simple text prompt, users can experiment with different ideas and bring their creative visions to life.
• Time-saving: This feature eliminates the need for extensive video editing or manipulation skills, allowing creators to focus on more essential aspects of content creation.
• Improved engagement: By providing users with more tools to transform their content, Instagram is likely to see an increase in user-generated content and engagement.

Potential Applications

The potential applications of this technology are vast and varied. Some possible uses include:

• Content creation: Creators can use this feature to make significant changes to their videos, such as altering the background environment or adding new objects.
• Marketing and advertising: Brands can utilize this tool to create engaging content that resonates with their audience, increasing brand awareness and reach.
• Educational purposes: This technology can be used in educational settings to create interactive and immersive learning experiences.

What’s Next for Instagram?

The introduction of generative AI editing features on Instagram marks a significant milestone for the platform. As more information becomes available, users can expect to see updates on the launch date and availability of this revolutionary feature. With its potential applications and benefits, it will be exciting to see how creators utilize this technology.

Conclusion

Instagram’s upcoming generative AI editing feature is set to revolutionize video editing by providing users with more tools to transform their content. Powered by Meta’s Movie GenAI model, this innovative technology promises to "preserve human identity and motion" in videos created or edited using the model. While we can’t wait to see the actual performance of Instagram’s AI video tools, it’s clear that this feature has the potential to change the way creators approach content creation.

References

• Meta: Movie Gen AI Video Generator
• OpenAI: Sora Model
• Adobe: Firefly Video Model

EU Opens Competition Investigation into Corning, Gorilla Glass Maker Offers Changes to Settle Probe

The European Union has opened a competition investigation into Corning, the manufacturer of Gorilla Glass used by major electronics brands such as Apple’s iPhone. The investigation centers around concerns over alleged exclusive dealing practices, which could potentially lead to penalties of up to 10% of global annual turnover if confirmed.

Corning Offers Changes to Contract Clauses in an Effort to Settle the Probe

In response to the EU’s investigation, Corning has proposed a range of changes to its contract clauses aimed at settling the probe. The U.S.-based company is a supplier to major electronics brands, and the changes could also be intended to prevent the investigation from escalating further.

The European Commission Solicits Industry Feedback on Corning’s Offer

The European Commission is now seeking industry feedback on Corning’s proposal, which can be submitted for around six weeks. If the EU accepts Corning’s proposals after this market test, the bundle of commitments would be made legally binding on the company and applicable worldwide.

Commitments Relating to Exclusivity Dealing, Purchase Quotas, and Patent Enforcement

Corning has proposed waiving all exclusivity clauses in its current agreements with device makers (original equipment manufacturers, or OEMs) and finishers for the supply of alkali-aluminosilicate glass (alkali-AS glass), which is mainly used for displays in mobile devices. The company also agrees not to use such clauses (or others with similar effects) in future agreements worldwide.

Device Makers Exempt from Purchasing Requirements

For devices intended to be sold in the European Economic Area (EEA), Corning proposes not requiring OEMs to purchase or otherwise source any quantity of alkali-AS glass from its own business. The company also promises not to offer device makers any price advantages conditional on such requirements.

Purchase Quotas for OEMs’ Non-EEA Demand

Corning is proposing not to require device makers to buy or cause their supply chain to buy more than 50% of their respective demand for alkali-AS glass and transparent glass ceramics from Corning. The company also promises not to offer OEMs any price advantages conditional on such requirements.

Impact on Third-Party Companies that Process Raw Glass (Finishers)

Corning is offering not to require finishers to buy more than half their combined demand for sodium aluminosilicate glass (NAS glass), LAS glass, and clear glass ceramics from Corning. The company also promises not to condition price advantages on such purchasing requirements.

Enforcement of Patents Relating to Break-Resistant Cover Glass

Corning has proposed basing any claim only on patent infringement and not on breach of contract. The company also agrees not to use any contractual mechanisms (such as penalties) to reinforce patent claims.

Implementation and Monitoring of Corning’s Commitments

If the EU accepts Corning’s proposals, the bundle of commitments would be made legally binding on the company and applicable worldwide. Implementation would be monitored by a trustee that would report to the Commission, and any breaches of the commitments could result in penalties.

Related News

• Nvidia’s Project Digits is a ‘personal AI supercomputer’
• Robotics: Nvidia is helping humanoid robots learn through Apple Vision Pro instruction
• Gadgets: Sony’s CES 2025 press conference: How to watch

Subscribe for the industry’s biggest tech news, and stay up-to-date with the latest developments in the fast-moving world of technology.

TechCrunch Daily News: Every weekday and Sunday, you can get the best of TechCrunch’s coverage.

TechCrunch AI: TechCrunch’s AI experts cover the latest news in the fast-moving field.

TechCrunch Space: Every Monday, gets you up to speed on the latest advances in aerospace.

Startups Weekly: Startups are the core of TechCrunch, so get our best coverage delivered weekly.