TechCrunch+ roundup: Unicorn origins, red flags for investors, generative AI meets copyright law
Nucleus Financial (NUC) has received a bid approach from IntegraFin Holdings (IHP) and the offer is likely to be in cash. Aquiline Capital and Allfunds (UK) are also considering offers. AssetCo (ASTO) has launched a tender offer for 6.53 million shares at 411p each. Following payment from former auditor Grant Thornton, AssetCo should have cash of around £55m.
Companies like Krea and Kraftful are already making waves with their AI-powered tools and apps, aimed at transforming the way we create and grow products. With the influx of innovative designers, the next big thing in generative AI is just around the corner. Ceres Power (CWR) has finalised its collaboration with Weichai Power. They will create a fuel cell manufacturing joint venture in China and technology will be licenced to the new venture, which could generate up to £30m in payments. There is also a £9m joint development agreement for range extenders for electric buses. Miton has increased its stake in Wheelsure Holdings (WHLP) from 15.5% to 17.8%.
LIST OF REPORTED SCAM COMPANIES IN 2023 – PART 1
This year pre-tax profit should be getting back towards the 2019 level. There are opportunities for further add-on acquisitions. The UK took the top spot out of 153 nations and jumped up from fifth place last year, scoring particularly well on technological readiness (fourth) and the size and education of its workforce (third). The rankings were based on 15 different factors including property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape and investor protection. Global University Venturing (GUV) is where tech transfer, academic and investment experts meet to explore the latest ideas and technologies driving innovation forward. We drive the discussions and share best practices that are critical to the success of spinouts, scaleouts and innovation programmes.
Rogue Baron plans to float on a UK market and this could trigger the issue of further shares to Gunsynd. British Honey Company (BHC) says sanitiser sales have enabled the company to achieve sales of 240% of budget in the past three months. BHC has swapped genrative ai 4.5% of its shares for a 10% stake in List Distillery LLC. BHC has an option to buy the rest of the company for £4.5m plus up to £500,000 in contingent consideration. BWA (BWAP) reported an interim loss of £2.91m, which reduced net assets to £2.43m.
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Tesco share price has risen from 187 to 206p (+10%) in the last month, such was the confidence that the deal would be consummated. This now looks like it may come to fruition before Christmas. Tech is expected to benefit less than most other sectors from a drop in the corporate rate, with an earnings boost of 5.3 percent, according to UBS. Though semiconductors could lose 3% of their profits.
The Cameroon business has marked out two licence areas and the first sampling has been undertaken with the lab results expected. BWA had written off its stake in the Prego prepaid debit card business, but there is a potential takeover by a Canadian listed genrative ai company. IOV Labs Ltd is investing £330,000 in Coinsilium Group (COIN) at 3p a share. One warrant will be issued for each two shares and the exercise price is 4.5p a share. IOV can appoint a director to the board, having increased its stake to 13.9%.
HeiQ (HEIQ) is acquiring 51% of Chrisal NV, a profitable industrial biotechnology company that has developed a symbiotic interior cleaner called Synbio with enhanced cleaning performance. Block Commodities (BLCC) has appointed First Sentinel as corporate adviser and trading in the share has recommenced. genrative ai Altona Rare Earths (ANR) has appointed Optiva Securities as broker, and it hopes to move to the standard list in the second quarter. KR1 (KR1) has raised nearly $256,000 by selling tokens in Stake DAO. KR1 still has the rights to more than 700,000 SDT tokens and these will vest over 23 months.
The continuing communications business generated slightly higher revenues in the second half than in the first half. Trans-Siberian Gold (TSG) has recommended a 118p a share mandatory cash offer from Horvik, which has already agreed to acquire a 51.2% stake. Block Commodities (BLCC) and Century Cobalt Corporation have entered an option agreement to acquire a 70% interest in a medicinal cannabis licence granted to Magnus Cannabis Group in Zimbabwe.
Nextech3D.AI plans marketed private placement offering to raise up to $3M
Every startup isn’t ready to hire a full-time marketer, but that’s no excuse to toss money out the window on paid acquisition. – Fort Point Capital, a Boston-based private equity firm, hired Kerry Muse as director of business development. – CAREL acquired Kiona, a Trondheim, Norway-based system integration platform, from Summa Equity. First, the process of creating video content will adopt virtual tools to make production faster and increase creative capability. Eventually everything in the scene, including the actor, will be virtual. Twice a week, all the latest news about startups, fintech, and more.