Amazon’s AI Safari

Amazon Launches AI Accelerator, A Venture Firm Raises $350 Million to Cure Biotech Blues, and a Startup Raises Money to Improve Supply Chain Efficiency.

Author

Adam from VC Brags
April 05, 2023

Welcome Shareholders,

In this daily edition of the Brags Newsletter, we’ll cover how Amazon is looking to fund the best AI startups with a new 10-week accelerator program, Cure Ventures looks to seed the future of Biotech, and Everstream Analytics looks to transform logistics management with its new funding.

So sit back, grab a snack, and enjoy!

Venture Today 👏

  • Amazon Web Services has launched a 10-week global program designed to support generative AI startups worldwide.

Amazon first ventured into accelerator programs for early-stage startups in 2016, with a focus on conversational AI. Now, seven years later, Amazon Web Services is leading a new AI accelerator, targeting generative AI startups. Founders of generative AI startups in the cohort will gain access to AI models, tools, machine learning stack optimization, and tailored go-to-market advice, culminating in a Demo Day in San Francisco.

Accepted startups can receive up to $300,000 in AWS credits for business development. Applications are open for two weeks, with ten startups to be selected at the end of the period. AWS said that startups with a minimum viable product, customer traction, and well-defined product value propositions and those already utilizing AWS would derive the greatest benefit from the program.

Who’s Raising?

  • Cure Ventures has secured $350 million for its debut fund to support biotech startups, to leverage smaller seed rounds to facilitate more significant breakthroughs.

The funding was supported by various sources, including city and state pension funds, a U.S.-based sovereign fund, foundations, endowments, and hospital systems. Cure will concentrate on smaller seed rounds, utilizing the fund to invest in approximately 20 seed rounds valued from several hundred thousand to a few million dollars.

The venture firm said that about 12 to 15 companies would receive series A funding. Cure will adopt a strategy similar to Flagship Pioneering and Third Rock Ventures by integrating its management as early C-suite members. The company will also emphasize genetic validation to enhance clinical success.

Startup of the Day

  • Supply chain analytics startup Everstream Analytics announced a $50 million Series B funding round, co-led by StepStone Group and Morgan Stanley Investment Management, with participation from existing investor Columbia Capital.

The company plans to use the funding to help develop its supply chain risk and performance insights. Everstream Analytics, established in 2012, provides logistics risk performance insights by working with supply chain touchpoints to boost efficiency and tackle climate issues.

The California-based startup employs predictive analytics to assist companies in making real-time decisions on supply chain rerouting, reducing carbon footprint, operational costs, and delivery time. Everstream said it has helped clients reduce revenue losses by 30% and risk management time by 70%.

Fresh Finds

  • AI Backdrop generates realistic, studio-quality backgrounds that match the angle and lighting of the original subject, making it indistinguishable from reality.

  • AI Backdrop is Suitable for marketers, pet owners, car owners, and anyone looking to create stunning visuals with ease.

  • With AI Backdrop, users can automate tedious work by bulk creation and cut the cost of photoshoots.

Memes and Other Things

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