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Robotic Automations

Shinkei's humane, quality-preserving fish-harvesting tech could upend the seafood industry | TechCrunch


Harvesting fish is an inherently messy business, what with being at sea, the slippery creatures wriggling around and everything else. Shinkei is working to improve it with an automated system that more humanely and reliably dispatches the fish, resulting in what could be a totally different seafood economy.

On many fishing vessels, fish are left to suffocate on the deck, flopping about and injuring themselves, resulting in a higher likelihood of bacterial infection, shorter shelf life and worse taste.

A Japanese technique called ike-jime is one alternative, amounting essentially to a spike through the brain rather than a drawn-out, dirty death. But it takes a certain amount of expertise, and a person can only handle so many fish. That’s where Shinkei comes in: automating the process so that the fish don’t suffer and the resulting meat is longer-lasting and of higher quality.

When I last talked to the company in 2022, it was deploying its first prototypes onto vessels to be tested in the unpredictable marine environment. The machine holds the fish in place, identifies the species and shape, and from there can determine where exactly the brain is, which it spikes quickly and accurately. That’s the end of the fish, though it still needs to be exsanguinated, which occurs directly afterwards in an ice bath.

Founder Saif Khawaja told me that in the time since then, Shinkei has refined its machines to be more reliable, moving away from a water-based spike to a mechanical one, along with other improvements one makes when going from a prototype to a production unit.

The improved machines can also be attached in a modular way, allowing parallel processing streams, and the computer vision stack that analyzes the fish on the block is being improved, with new fish types being added as well.

And of course the company has raised money: $6 million that should help it go from pilot to production. The goal is to have 10 machines in actual use by the end of the year. Shinkei is also working on a second machine that performs a second operation, essentially destroying the spinal cord so there’s no trace of the central nervous system left — one step closer to a fillet.

A prototype Shinkei machine on a fishing boat, left. Co-founder Saif Khawaja, right. Image Credits: Shinkei

Khawaja sees Shinkei, and the automation of that technique and ike-jime, as potentially the start of a major shift in the seafood economy. It isn’t just that he hopes a more humane harvesting method catches on — there are a number of knock-on effects that could be far-reaching.

The thing about the seafood industry is that there’s a tremendous amount of waste, no doubt partly due to the oceans being considered an inexhaustible resource. They aren’t, by the way! And overfishing is driving many fish toward effective extinction.

One part of this waste is that fish simply don’t last long as a premium product. We’ve all seen the signs: fish, market price, delivered this morning. Because tomorrow, that fish will only be good enough to serve grilled up with sauce or in a salad, and the day after that it’s compost or animal food.

Consumers and restaurants accept this the way we once accepted that milk had to be delivered every few days because it went bad. When packaging technology made it possible for milk to last for weeks rather than days, that changed our relationship with it. Similarly, when in the ’70s, humane slaughter of cows was mandated by the FDA, that became the new standard, including the costs and changes to the supply chain that went with it.

A fish harvested using Shinkei’s system, top, and traditional, bottom — showing tissue damage and contamination that will lead to faster deterioration. Image Credits: Shinkei

Khawaja hopes that a similar transformation is underway in seafood. Fish killed via ike-jime rather than other ways last far longer, retaining their premium taste and texture for perhaps a week rather than a day or two. The whole degradation process is slowed.

That means a restaurant may not have to buy as many fish, a quarter of which it will throw away perhaps, but will pay more for fewer higher-quality fish that last longer. That kind of shift can make entire industries change.

For instance, over the last few decades we have seen a huge amount of meat-processing labor shifted overseas. Khawaja mentioned that a billion pounds of salmon alone were sent to China to be processed, because it doesn’t make financial sense to do it here where people demand higher wages.

If the value of a single fish rises, and it is easier to process it locally, that may cause the economics of overseas processing (kind of ridiculous to begin with) no longer make sense. The fish can be caught here and stay here, and all the jobs associated with the industry can as well.

Higher-value fish may also put negative pressure on overfishing. If a boat can make the same amount of money on 700 fish as it once did on 1,000, that changes things as well. Fewer boats will need to collect far beyond legal or ethical levels just to survive as a business.

“This is an efficiency net gain for the whole supply chain,” Khawaja said. “I really think that within seafood the problems are particularly pronounced, and a lot of these jobs are dangerous. I worked as a deckhand and almost died! I don’t want this to be a wholly automated supply chain, but to take away dangerous jobs and let the skilled labor forge their new environment.”

The funding round was led by Cantos, along with 8VC, Impatient Ventures, Susa Ventures, Carya Venture Partners, Ravelin Capital, Red & Blue Ventures, Undeterred Capital and existing investors.


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Robotic Automations

Carbonfact is a carbon management platform designed specifically for the fashion industry | TechCrunch


French startup Carbonfact believes that the best carbon accounting solutions will focus on one vertical. That’s why the company has decided to provide a carbon management and reporting tool for the fashion industry exclusively.

And Carbonfact recently raised a $15 million funding round led by Alven, the French VC firm that led Carbonfact’s seed round in 2022 already. Other investors in the round include Headline and a follow-on investment from Y Combinator.

Big companies in the fashion industry (and other industries) need to come up with a carbon accounting strategy as regulation is changing in Europe and the U.S. with the EU’s Corporate Sustainability Reporting Directive (CSRD), California’s Climate Corporate Data Accountability Act and the NY Fashion Act.

That’s why there has been a boom in carbon accounting platforms. The biggest ones like Watershed, Persefoni, Sweep or Greenly have an industry-agnostic approach. They help you track your carbon emissions and create reports in a more or less automated way.

Just like Carbon Maps focuses exclusively on the food industry, Carbonfact is focusing on the fashion industry so that its product can be more granular and more specific.

“For these industries – food is a very good example, fashion is a very good example – you need to be accurate in your calculations and you need industry-specific tools to model virtual products and improve your product offering in the future,” Carbonfact co-founder and CEO Marc Laurent told me.

Carbon data at a product level

In more practical details, Carbonfact retrieves your existing data from your ERP and other internal systems. It then calculates the footprints for each product using a lifecycle assessment engine that is specifically designed for clothing items.

“[Clients] also have data in what they call PLM [Product Lifecycle Management software ] — that’s the software in which they put all the product data. This is where you’ll find the product recipe sheets. And they sometimes have data in traceability platforms, such as Retraced, Trustrace, Fairly Made in France, etc. And finally, they sometimes have data in Excel files,” Laurent said.

After centralizing and normalizing all data in a single platform, as the fashion industry relies on a cascade of suppliers, Carbonfact wants to help you calculate your scopes 1, 2 and 3 emissions — scope 3 emissions in particular encompass indirect emissions from third-party suppliers.

The startup first gives you a broad idea of your main emission hotspots with an uncertainty range. It then helps you prioritize data collection with your suppliers to refine your data and improve your carbon reporting.

After that, Carbonfact can become your carbon footprint dashboard. You can generate broad reports and drill down at an SKU-based level to see the environmental cost of each product. The platform can then be used to run what-if scenarios to see if you should change a material, move to a new country of manufacturing or change your transport methods.

Image Credits: Carbonfact

While many companies will focus first on CO2-equivalent metrics, Carbonfact can also be used to track other metrics, such as water consumption, French eco-labels and other environmental indicators — in the carbon accounting industry, they call these indicators the Product Environmental Footprint Category Rules, or PEFCR for short.

And Carbonfact has already onboarded over 150 apparel and footwear brands, including New Balance, Columbia, Carhartt and Allbirds. “We track 100% of their subsidiaries, 100% of their suppliers, 100% of their products,” Laurent said.

Each client pays tens of thousands of dollars per year to use Carbonfact. With a little back-of-the-envelope calculation, if we consider that a client pays around $20,000 per year on average, it means that the French startup already generates at least $3 million in annual recurring revenue.

It’s clear that sustainability management software is a growing segment in the world of enterprise software. But it’s also a young sector. So it’s going to be interesting to see if several industry-specific platforms can become large companies or if there will be some consolidation down the road.


Software Development in Sri Lanka

Robotic Automations

Exclusive: How Found Energy went from ‘self-cannibalizing robots’ to cleaning up heavy industry


Found Energy doesn’t have the typical startup origin story: It began with a space robot that was supposed to eat itself. Now, the company is developing that same technology with an eye toward powering aluminum smelters and long-haul shipping.

Nearly a decade ago, Peter Godart, Found Energy’s co-founder and CEO, was a scientist at NASA’s Jet Propulsion Laboratory. He and some colleagues were brainstorming how to power a probe that might visit Jupiter’s moon, Europa. The team was debating the energy density of batteries that might be suitable when a stray thought landed in Godart’s head. The aluminum used to make the spacecraft held more than 10 times the energy of any cutting-edge battery. Why not use the spacecraft’s parts to power itself?

“They gave me a bunch of money to start a program that I lovingly called the ‘self-cannibalizing robot lab,’” Godart told TechCrunch. “We looked at giving robots the ability to consume their vestigial aluminum components for fuel.”

But as he continued his research, Godart had another thought. “I had a moment where I realized my time would be better spent solving Earth problems,” he said. His timing couldn’t have been better. Congress cut some of the funding for the Europa missions, and JPL let Godart take the intellectual property to MIT where he continued to work on the problem during his doctorate.

To Godart, aluminum had several obvious upsides: It’s the most abundant metal in the Earth’s crust, it can store twice as much energy per unit volume as diesel without being volatile, and it’s possible to recover as heat 70% of the original electrical energy used to smelt it. “I was like, oh my god, we got to do something with this,” he said.

To release the energy embodied in refined aluminum, Godart had to figure out how to get past the metal’s defenses, so to speak. “If you throw a chunk of aluminum in water and try to oxidize it using water, it would take thousands of years,” he said.

Godart’s process is much, much faster. Once water is dropped on aluminum coated in Found Energy’s catalyst, the metal’s surface quickly starts bubbling as the reaction releases heat and hydrogen gas. Within seconds, the aluminum starts expanding as the hydrogen bubbles force it to exfoliate. That allows water to penetrate further into the metal, repeating the process over and over again until all that’s left is a gray powder. “We actually call it fractal exfoliation,” Godart said.

Found Energy harvests the resulting steam and hydrogen, each of which can be used for a range of industrial processes. “One of the hardest elements of heavy industry to decarbonize is the heat,” Godart said. “And now here we have this really flexible way of providing heat across a very wide range of temperatures, all the way down from 80 to 100 degrees Celsius all the way up to 1,000 degrees Celsius.” In total, about 8.6 megawatt-hours of energy can be recovered per metric ton of aluminum.

What’s left isn’t waste, either. The catalyst can be recovered, and the powder is aluminum trihydrate, which can be smelted once more to create metallic aluminum. Any contaminants, including food waste, plastic soda can liners and mixed alloys, remain larger than the aluminum trihydrate powder and can be easily filtered out.

“All of that stuff works in our process, because our catalyst just eats aluminum and basically leaves everything else untouched,” Godart said.

Found Energy recently raised an oversubscribed $12 million seed round, TechCrunch has exclusively learned. Investors in the round include the Autodesk Foundation, GiTV, Glenfield Partners, Good Growth Capital, J-Impact, Kompas VC, the Massachusetts Clean Energy Center and Munich Re Ventures.

When using scrap aluminum, which is Found Energy’s initial plan, the process is carbon negative. The startup is targeting industrial heat in its go-to-market strategy, but Godart also sees applications in marine shipping and long-haul trucking. Aluminum is slightly heavier than diesel or bunker fuel, but its energy density could be game changing for those industries.

One could imagine future ships powered by aluminum dropping their waste powder off at a smelter to be refueled for a return voyage. “Just sip a little bit of that energy as you go, and then you’ve essentially come up with a new maritime shipping fuel as well,” he said. “In a weird way, we’re sort of revamping the concept of a solid fuel.”


Software Development in Sri Lanka

Robotic Automations

Against games industry doldrums, Bitkraft Ventures raises $275M to back studios and platforms | TechCrunch


Bitkraft Ventures — a games investor based out of Denver, Colorado, but with European founders — is raising its third fund, coming in at $275 million. The fund will make seed and Series A investments in gaming studios and platforms to support game production. The moves come at a time when games investments have actually declined 72% year on year, according to a recent PitchBook report.

Founded by games industry veteran Jens Hilgers, Bitkraft has over 130 companies in its portfolio, and more than $1 billion in assets under management.

The VC is an investor in the Frost Giant studio, which Hilgers seemed particularly excited about.

“Frost Giant has set out to build a successor in the real-time strategy space. The team had previously been involved in building StarCraft and they’re now launching a game called Stormgate. It’s highly anticipated and has had great early reviews. That is a good example of the type of  games company we invest in.”

Other investments include Anzu, an in-game ad platform; Carry1st, a mobile gaming platform focused on Africa; InWorld, a social platform; Karate Combat, a martial arts league; and Immutable, the creator of the Gods Unchained crypto-based game.

He said the firm’s LP base is a mix of family offices and institutional funds, and confirmed a major global sportswear player as an LP but was not at liberty to release the name.

“The strategy we pursued with the second fund is about 30 to 35 companies, average ticket size about $4 million, 50% of the initial capital and 50% follow-on. That strategy has looked successful so far. We’re rated top decile in the latest Cambridge Associates ranking, and we’re happy with that performance,” he added.

Perhaps the best way of positioning Bitkraft is to compare it to Play Ventures in Singapore, which has raised $222.9 million across four funds but also invests across several types of games platforms.


Software Development in Sri Lanka

Robotic Automations

A new games-focused VC in Turkey shows the industry there continues to gain steam | TechCrunch


Turkey has gained a well-earned reputation as being a veritable cauldron of mobile games startups, leading to the rise of VCs dedicated to the sector. The latest to join this coterie is Laton Ventures, a new gaming-focused VC that has raised a $35 million fund. Founding partner — and solo GP — Görkem Türk says he’s aiming to build a bridge between the Turkish gaming ecosystem and the rest of the world, investing in the pre-seed and seed stages. The fund is legally domiciled in the Netherlands.

As an emerging market with a young population, Turks have eaten up mobile games as fast as they can be produced, giving rise to over 740 gaming startups. More than 48% of the 86 million people in Turkey are under the age of 30 and over 92% of internet users play games in Turkey compared to the world average of 82%.

Indeed, between 2018 and 2022, Turkish gaming startups raised more than $1 billion in funding.

Admittedly, Laton has some competition. There are now at least 25 VC funds that invest in video game startups based out of Turkey. That said, most invest in other tech sectors as well.

Türk, who is a former gaming and startups industry manager at Google, explained to me in a call that Laton plans to stand apart by emphasizing operational advisory to its portfolio companies.

“We’re positioning as a bridge between the Turkish gaming ecosystem, which is booming, and the international gaming ecosystem. Secondly, we will double down on operational support in areas like user acquisition, game design, cohort analysis, development, and so on. We’re backed by over 20 exited founders. That really sets us apart,” he said.

The fund has already invested in five companies in the past six months: Two in Turkey, two in Europe and one in the U.S., and plans to leverage its veteran industry adviser network.

To that end, Laton’s LPs include Mehmet Ecevit, co-founder of Gram Games; Mert Gür, founder of Loop Games; Mert Can Kurum, founder of Ruby Games; Fırat İleri, managing partner of Hummingbird Ventures; Nevzat Aydın, founder of Yemeksepeti; and Eric Kress, founder of Gossamer.


Software Development in Sri Lanka

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