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Over 25,000 Individuals Demand FCC Hearing on Petition to Deny FOX Affiliate Broadcast License

Media and Democracy Project

Today, the Media and Democracy Project (MAD) was backed by 25,532 concerned individuals demanding that the Federal Communications Commission (FCC) hold a hearing to investigate whether FOX and its leadership violated long-standing FCC rules on the character required for broadcast licensees. The 611-page filing includes signatories from all fifty states, Washington, D.C., and Puerto Rico. It marks the one-year anniversary of MAD’s Petition to Deny the broadcast license renewal application for FOX Corporation-owned television station FOX 29 Philadelphia (WTXF). “Rarely does an FCC proceeding generate such a groundswell of public engagement, and we’re thrilled to have so many supporters joining our effort,” said Milo Vassallo, the executive director of MAD. “While FOX has peppered this proceeding with politicians and sports teams, we have dedicated our efforts to educating everyday Americans about the FCC’s role in determining whether FOX's leadership meets the character expected of a broadcast licensee.” The filing represents the views of concerned citizens joining MAD in demanding a hearing and according to the filing, “petitioning their government to investigate FOX, a greedy corporation that did incalculable harm when it actively sought to undermine the 2020 presidential election for the sake of its corporate profits.” They join a growing bipartisan chorus of former FCC officials, media veterans, and a noted First Amendment scholar supporting MAD’s petition. MAD’s Petition to Deny documents serious character and rule violations relating to WTXF’s parent corporation’s egregious conduct—spreading dangerous misinformation about the 2020 election all to protect the FOX media empire’s profits. The intentional distortion of news, authorized at the highest levels of FOX’s corporate structure, and fabricated by management and on-air personalities, represents a severe breach of the FCC’s policy on licensee character qualifications. Rupert and Lachlan Murdoch’s actions outlined in the court decision in Dominion v. FOX “shock the conscience.” The people deserve to know the full truth about FOX’s decisions, which showed discord in the 2020 election and contributed to the attack on our nation’s Capitol on January 6, 2021. In light of serious allegations of rule violations and concerns regarding character, on October 9, 2023, MAD filed a motion requesting the FCC to compel FOX to produce key nonpublic discovery from its various lawsuits to ensure full transparency and accountability for its actions. “Never in the history of the Commission has the agency been confronted with a license renewal applicant whose parent company was found by a court of law to have repeatedly presented false news,” said former FOX Broadcasting executive Preston Padden. “We are proud to be joined by so many in calling for a hearing and urge the Media Bureau to compel FOX to produce key discovery that has been withheld from the public.” It’s been nine months since the motion for discovery was filed, and outside opening the petition for Public Comment, the FCC has been silent. Today’s filing says this of the 25,532 individuals: “Petitioners have each volunteered their names in support of this effort because they believe that owning a broadcast station is more than a business—it is a public trust.” Now, it is more important than ever for the Commission to move swiftly to investigate and designate this matter for a hearing. To join this effort, visit foxpetition.com. The Media and Democracy Project: MAD is a non-partisan, all-volunteer, grassroots organization focused on strengthening a free and independent media in the public interest. MAD aims to improve our national discourse so that American voters can engage in informed decision-making. As part of that goal, MAD has an interest in the responsibility of journalists and media to report fully, accurately, and fairly on the electoral process and the outcome of elections. Additional information is available at www.MediaAndDemocracyProject.Org. To sign up for more information from The Media and Democracy Project, click here. Contact Details Raynor Ave. Aaron Alberico +1 202-744-0786 aalberico@raynoravenue.com Company Website https://www.mediaanddemocracyproject.org/

July 25, 2024 08:00 AM Eastern Daylight Time

Digital and Real World Assets trading platform tanX hits billion dollar quarterly trading volume milestone

tanX

Trading platform tanX recently processed a billion dollars in quarterly spot trading volume across 3 million transactions (Q2, 2024), marking a 70% increase from the previous quarter. This milestone underscores the growing confidence and trust in decentralized trading platforms. Several factors are attributed to tanX's growth in 2024. The platform has implemented various product upgrades, including strategic partnerships with numerous Layer 2 scaling solutions. This expands the range of networks users can import their assets from to trade on tanX while maintaining fast order execution and low fees. Additionally, tanX has leveraged strategic initiatives like trading competitions and the recent launch of their loyalty program, SALT points, to incentivize user participation. The new spot Bitcoin exchange-traded funds (ETFs) have been a resounding success. As a group, they have now attracted more than $30 billion in assets under management. In Q2, these spot Bitcoin ETFs set a record with more than $64 billion in average monthly traded volume. However, amid this growth, the institutional need for a decentralized, secure, compliant, and transparent trading infrastructure remains paramount. In the wake of FTX's collapse, crypto traders have increasingly sought decentralized, non-custodial, and safer ways to execute orders and store their assets. This trend underscores the rising investor interest in decentralized crypto exchanges (DEXs). TanX, an orderbook spot DEX on Ethereum, is at the forefront of this transformation, offering a robust platform that ensures compliance, regulation, and transparency of assets to institutional clients through their institutional liquidity lines. Bhavesh Praveen, co-founder and CTO at tanX commented: “ TanX solves some of the critical problems faced by both institutions and users in DeFi. I'm incredibly proud of what we've accomplished, but I'm even more excited about what the future holds. We are working on a lot of exciting new features that will help traders and institutions make yield while trading & having full custody of their funds preventing any FTX like scenarios. We're shaping the future of finance with our hybridized exchange engines, and I couldn't ask for a better team to be on this journey with.” The debate over the merits of DEXs compared to CEXs is well-rehearsed. CEXs offer a familiar feel for investors, particularly those accustomed to dealing with assets like equities on stock exchanges, and often provide a more user-friendly customer interface. However, DEXs offer self-custody and help you retain full ownership of your crypto. tanX acts as a bridge between the two worlds and has been pioneering a hybrid operational model where CEXs can integrate tanX’s solution and provide their customers non-custodial trading while retaining the existing user experience. Vikram, founder at Giottus Exchange commented “tanX brings in a new perspective in bridging the centralized and decentralized space by delivering high performance trade throughput and security, especially for institutions who are worried about KYC complaint trades, it can't get better than tanX in the decentralized exchange space” In the current climate, where many exchanges face increasing regulatory scrutiny over their operations in the U.S. and allegations of canvassing breaches and money laundering in France, the importance of compliance cannot be overstated. DEXs also face risks of misuse since they are not required to adhere to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. The founder suggested that tanX addresses this issue by offering institutions geo-fencing and KYC-routed orders, ensuring that trades are executed only with known counterparties. Shaaran Lakshminarayanan, co-founder and CEO at tanX commented: “At tanX our goal is to catalyze the institutional adoption in the digital asset space and onboard the next 100 billion dollar institutional crypto in-flow into the market.” tanX is a venture-backed trading platform that raised a $16.5m (at a $100mn valuation) from Pantera Capital, Elevation Capital, Starkware Ltd, Spartan Group, Goodwater Capital, Upsparks Ventures, Protofund Ventures and angel investors. About tanX tanX is the world’s leading decentralized exchange for institutions and high frequency traders. Presently ranked as one of the top 10 decentralized exchanges in the world by trading volume backed by Pantera Capital, Elevation Capital, Starkware Ltd, Spartan Group, Goodwater Capital, Upsparks Ventures, Protofund and Marquee angel investors. For more information please visit https://tanx.fi/ or follow via LinkedIn, X, YouTube or Discord. Contact Details tanX Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://tanx.fi/

July 25, 2024 06:00 AM Eastern Daylight Time

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HTX Ventures's EthCC 2024 Insights: Infrastructures are Strong, Applications Need Innovation

HTX Ventures

Singapore / July 24, 2024 – 2024 marked the 10th year anniversary of Ethereum ICO. To learn from front-end developers and connect with like-minded VCs and ecosystem users, several investment analysts from HTX Ventures have attended the largest annual European Ethereum event EthCC last week. This article outlines some of our observations about the current market situation. Optimize Ethereum Vitalik Buterin delivered a keynote speech in Brussels on "Hardening the L1: Optimizing Ethereum as a Highly Robust, Dependable and Permissionless Base Layer for L2s." In his speech, Vitalik reaffirmed Ethereum's roadmap to provide the most decentralized and secure settlement Layer 1 for various Layer 2s, with five main improvement directions for Ethereum outlined: Decentralized DeFi: To maintain the decentralized nature of the Ethereum network, encouraging solo staking is essential. This can be achieved by lowering its barriers to entry through things like easing node operation and reducing the staking monetary threshold. Other risks that need to be considered include the risk of liquidity staking and the related risk of MEV (Miner Extractable Value). Layer 2 Solution: To achieve Ethereum’s roadmap, efforts need to be focused on increasing the data availability bandwidth for Layer 2 storage and lowering the cost of storage on Ethereum. Security and Privacy Protection: Vitalik encourages validators to prepare for 51% attacks by providing automatic coordination on the same minority fork when an attack occurs. He also suggests potential solutions for future quantum attacks. Light Clients: Promoting the adoption of light clients like Helios for Layer 1s, and developing similar solutions for Layer 2s, user's secure blockchain interactions can be ensured without relying on centralized servers. Protocol Simplification: To ensure Ethereum remains a robust base layer, its technical debt needs to be reduced. 2. Investment Slowdown The pace of investment for VCs across the market is temporarily slowing down due to three main reasons: the ambiguity of market liquidity, listing trends/macro situation, and high FDV (Fully Diluted Valuation) VC rounds. As the market makes some value corrections and the political and economic situation clarifies in the latter half of 2024, VCs are expected to resume a more active investment pace. 3. Misaligned Invest Direction The consensus agrees that having strong consumer applications is crucial to getting more people to use blockchain technology. However, VCs’ funding is telling a different story. Currently, a large part of funding is still going towards infrastructure, especially AI, security, privacy, and blockchains. This investment trend is even more significant within the Ethereum ecosystem. The current misalignment of investment direction is partly due to the lack of innovative narratives among consumer applications. 4. Alternative Ecosystem Focus: Outside of the main Ethereum ecosystem discussion, three other main types of blockchain are at the center of attention: Community-Driven Blockchains: Blockchains like Ton focus on creating good user experiences and consumer applications that can be used by millions of non-crypto users. Parallel EVM Blockchains and Modular Solutions: Solutions such as Monad and Avail leverage Ethereum while offering improved functionalities. BTC Ecosystem: The Bitcoin ecosystem is also exploring user applications. 5. Macro Expectation Due to the release of blockchain ETFs, the crypto market is becoming more in sync with the traditional financial system. The upcoming US presidential election and the expected Fed rate cut will affect crypto regulations, economic direction, and the liquidity of the U.S. dollar and related pegged currencies. Currently, as the probability of Trump winning the election is increasing, the market holds an optimistic view toward the future of the crypto market post the end of 2024. HTX Ventures' Engagement Alongside attending the main event, HTX Ventures sponsored and spoke at several side events, such as the LSDFI Summit and VC<> Start-Up Connect. Our researchers and Managing Partner shared insights on "Restaking Development'' and "How to Successfully Launch a Web3 Ecosystem." This year's EthCC conference showcased an unshakeable status of the Ethereum ecosystem and provided forward-looking technical discussions and application explorations. HTX Ventures is committed to supporting the long-term development of the Ethereum ecosystem and continually seeking technologies and projects that will advance the crypto user experience. == About HTX Ventures HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice. HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active Fund of Funds (FOF) investors, HTX Ventures collaboratively forges the blockchain ecosystem alongside premier global blockchain funds, including Dragonfly, Bankless, Gitcoin, Figment, and Animoca. Feel free to contact us for investment and collaboration at VC@htx-inc.com. About HTX Ventures HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice. HTX Ventures presently backs over 200 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most vigorous Fund of Funds (FOF) investors, HTX Ventures collaboratively forges the blockchain ecosystem alongside premier global blockchain funds, including IVC, Shima, and Animoca. Contact Details EE glo-media@htx-inc.com Company Website https://www.htx.com/en-us/ventures

July 24, 2024 12:42 PM Eastern Daylight Time

Direxion to Change Name of QQQU and QQQD

Direxion

Direxion, a leading provider of tradeable and thematic ETFs, announced the name change of QQQU and QQQD. Effective August 16, 2024, the new fund names will be the Direxion Daily Magnificent 7 Bull 2X Shares (Ticker: QQQU ) and the Direxion Daily Magnificent 7 Bear 1X Shares (Ticker: QQQD ). Coinciding with the name changes, QQQU and QQQD will seek to achieve 200%, or 100% of the inverse (opposite), respectively, of the daily performance of the Indxx Magnificent 7 Index. The Index will continue to track to track the performance of the seven largest Nasdaq 100-listed companies, all of which are household names, including Alphabet Inc. (GOOGL), Amazon.com, Inc. (AMZN), Apple Inc. (AAPL), Meta Platforms, Inc. (META), Microsoft Corporation (MSFT), Nvidia Corporation (NVDA) and Tesla, Inc. (TSLA). “QQQU and QQQD capitalize on key market drivers, to include artificial intelligence, cloud computing and semiconductors," said Direxion Managing Director and Head of Sales and Alternatives, Edward Egilinsky. “The new fund names better align with the opportunities traders have expressed with their short-term convictions on the Magnificent 7.” All Direxion leveraged and inverse ETFs are intended only for investors with an in-depth understanding of the risks associated with seeking leveraged investment results, and who plan to actively monitor and manage their positions. There is no guarantee these ETFs will meet their objective. Please visit the Direxion Leveraged and Inverse ETF Education Center, where you will find educational brochures, videos, and a self-paced online course to help you understand if leveraged ETFs are right for you. About Direxion: Direxion equips investors who are driven by conviction with ETF solutions built for purpose and fine-tuned for precision. These solutions are available for a broad spectrum of investors, whether executing short-term tactical trades, or investing in thematic strategies. Direxion’s reputation is founded on developing products that precisely express market perspectives and allow investors to manage their risk exposure. Founded in 1997, the company has approximately $42.9 billion in assets under management as of June 30, 2024. For more information, please visit www.direxion.com. There is no guarantee that the Funds will achieve their investment objectives. For more information on all Direxion Shares ETFs, go to www.direxion.com, or call us at 866.301.9214. An investor should carefully consider a Fund’s investment objective, risks, charges, and expenses before investing. A Fund’s prospectus and summary prospectus contain this and other information about the Direxion Shares. To obtain a prospectus and summary prospectus call 866-476-7523 or visit our website at direxion.com. A Fund’s prospectus and summary prospectus should be read carefully before investing. Leveraged and Inverse ETFs pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They seek daily goals and should not be expected to track the underlying index over periods longer than one day. They are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk and who actively manage their investments. Direxion Shares Risks – An investment in each Fund involves risk, including the possible loss of principal. Each Fund is non-diversified and includes risks associated with the Funds’ concentrating their investments in a particular industry, sector, or geographic region which can result in increased volatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. Risks of each Fund include Effects of Compounding and Market Volatility Risk, Counterparty Risk, Market Risk, Rebalancing Risk, Intra-Day Investment Risk, Other Investment Companies (including ETFs) Risk, Passive Investment and Index Performance Risk, Cash Transaction Risk and risks specific to the information technology sector. The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles. Additional risks include, for the Direxion Daily Concentrated Qs Bull 2X Shares, Daily Index Correlation Risk and Leverage Risk, and for the Direxion Daily Concentrated Qs Bear 1X Shares, Shorting or Inverse Risk and Daily Inverse Index Correlation Risk. Please see the summary and full prospectuses for a more complete description of these and other risks of each Fund. Distributor: Foreside Fund Services, LLC. Contact Details Ditto Public Relations Danielle Black, SAE direxion@dittopr.co Company Website https://www.direxion.com/

July 24, 2024 10:32 AM Eastern Daylight Time

LSEG Q2 Rankings: Benchmark International Remains the #1 Privately Held M&A Advisor

Benchmark International

Contact Details Brittney Zoeller +1 813-898-2350 zoeller@benchmarkintl.com Company Website https://www.benchmarkintl.com/

July 24, 2024 09:00 AM Eastern Daylight Time

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Benchmark International Successfully Facilitated the Transaction Between Quotient, Inc. and Virtual Technologies Group

Benchmark International

Benchmark International has successfully facilitated a transaction between Columbia, MD-based Quotient, Inc. ("Quotient") and Maumee, OH-based Virtual Technologies Group ("VTG"). Quotient provides a wide range of device-agnostic digital solutions for federal clients. "Quotient President and Co-Founder Clark Lare built a gem of a company in the Federal-IT space, with long-standing relationships at key federal agencies providing highly skilled services to some of our nation's most critical mission sets," commented Benchmark Senior Transaction Director William Sullivan. "We brought this opportunity to market fully understanding its differentiated sector position, and we were well aligned with our client in finding the best combination of cultural fit and enterprise value. After a highly selective process, VTG emerged as clearly the best fit, with a strong plan for future growth and a highly complementary team and structure. We are very excited for the entire Quotient team." Your perfect buyer is out there. Find them today. Founded in 1999 by Clark and Jodi Lare, Quotient provides customized IT solutions to US federal agencies, including systems integration, full-stack software development, cyber security, project management, scheduling, and operational support. The company's employees include developers, engineers, managers, SMEs, and systems administrators with knowledge, skills, and qualifications across various domains, including CISSP, PMP/PMP-SI, RHEL CE/SA, Security+, CSM, and ITILv3. Founded in 1962, Virtual Technologies Group (VTG) is a single-source IT solutions provider specializing in cyber security, infrastructure management, and IT-managed services. VTG prioritizes partner-based relationships to deliver tailored solutions and has continued to adapt alongside rapidly developing technological advancements since its inception. The transaction was backed by New York, NY-based Jacmel Partners, a private investment firm targeting family-operated, lower middle-market companies. The firm focuses on combining traditional private equity best practices with low-cost, high-impact strategies that promote growth while also benefiting employees and their communities. SCHEDULE A CALL Americas: Sam Smoot at +1 (813) 898 2350/ Smoot@BenchmarkIntl.com Europe: Michael Lawrie at +44 (0) 161 359 4400 / Lawrie@BenchmarkIntl.com Africa: Anthony McCardle at +27 21 300 2055 / McCardle@BenchmarkIntl.com ABOUT BENCHMARK INTERNATIONAL: Benchmark International is a global M&A firm that provides business owners with creative, value-maximizing solutions for growing and exiting their businesses. Benchmark International has handled over $11 billion in transaction value across various industries from offices across the world. With decades of M&A experience, Benchmark International’s transaction teams have assisted business owners with achieving their objectives and ensuring the continued growth of their businesses. The firm has also been named the Investment Banking Firm of the Year by The M&A Advisor and the Global M&A Network as well as the #1 Sell-side Exclusive Privately-held M&A Advisor in the World by Pitchbook and Refinitiv's Global League Tables. Contact Details Brittney Zoeller +1 813-898-2350 zoeller@benchmarkintl.com Company Website https://www.benchmarkintl.com/

July 24, 2024 09:00 AM Eastern Daylight Time

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Players Health Partners with RealResponse to Enhance Athlete Safety and Wellbeing Through Real-Time Reporting

Players Health

Players Health, the leading provider of athlete safety and insurance solutions, today announced a partnership with RealResponse, a powerful web-based platform where athletes can anonymously report improper conduct through confidential two-way dialogue. Together, the two industry leaders will implement an innovative reporting platform for over five million athletes, leagues, and organizations in the Players Health specialty youth sports insurance ecosystem. This collaboration will blend RealResponse’s multi-channel communication technology into Players Health's sports-centric insurance, education, training, and compliance offerings, empowering kids, parents, guardians, and coaches to share feedback, ask questions, and access resources anonymously and in real-time. The RealResponse platform has already proven effective in facilitating rapid communication across amateur athletics, offering real-time anonymous visibility into critical situations, allowing for timely support for mental health needs. “Everything we do is centered around creating the safest and most accessible environments for amateur athletes to play the sports they love. RealResponse’s integration into our growing community allows us to provide our clients with the protected and secure communication tools needed to achieve clarity when investigating incidents,” said Tyrre Burks, CEO & Founder of Players Health. “This partnership creates a crucial framework for our clients to manage risk effectively and act promptly on valuable feedback.” As part of this partnership, Players Health becomes a preferred insurance, health and safety provider for RealResponse, ensuring that youth sports organizations have access to comprehensive coverage alongside innovative reporting solutions. Conversely, RealResponse will serve as a preferred feedback and anonymous reporting platform for Players Health, reinforcing its commitment to athlete safety and proactive risk management. This strategic alignment will enhance the resources available to organizations, and help foster a culture of safety and accountability across the youth sports ecosystem. “Players Health and RealResponse are committed to empowering amateur sports and educational institutions with innovative technological solutions that resonate with today's youth,” said David Chadwick, Founder and CEO of RealResponse. “By utilizing preferred communication channels—such as text, QR codes and WhatsApp—we're taking significant strides to prevent abuse and misconduct. Our advanced, seamless auto-routing capabilities streamline administrative processes, making it easier for organizations to uphold safety standards while supporting Players Health’s expanding network of clients.” Learn more about the partnership here: https://www.playershealth.com/ Players Health is a sports technology company providing digital risk management services, reporting tools and insurance products to sports organizations to empower them to stay ahead of their ever-changing safety and compliance responsibilities. Working towards establishing the safest environment for athletes, Players Health views the health and safety of athletes as a priority in today's sports landscape. ABOUT REALRESPONSE RealResponse is committed to elevating all voices in sports. The RealResponse community includes more than two million athletes, coaches, administrators, and staff, across college and professional sports, governing bodies, youth organizations, and integrity units. Founded in 2015, RealResponse empowers organizations and individuals to operate confidently in the high-risk world of sports – with real-time, two-way anonymous communications, surveys, compliance support, and data. For more information, visit realresponse.com. Contact Details Digital Sport by Hot Paper Lantern Jackson Gaskins playershealth@hotpaperlantern.com Company Website https://www.playershealth.com

July 24, 2024 08:00 AM Eastern Daylight Time

Vayu Robotics debuts the world’s first on-road Delivery Robot powered by an AI Robotics foundation model

Vayu Robotics

Consumers rely on e-commerce platforms to deliver groceries, electronics, apparel and more everyday. And while the number of deliveries is skyrocketing — by 2027, 23% of American retail purchases are expected to take place online — cost per delivery remains stubbornly high. In a move to slash the cost of e-commerce deliveries, Vayu Robotics has announced the release of the world’s first on-road Delivery Robot that combines the power of modern AI foundation models with lidar-less, low-cost passive sensors. Traditional mobile robotics rely on costly lidar sensors and software modules built to do one task at a time, leading to expensive hardware and fragile software unable to handle new scenarios. Vayu’s robot does the opposite. The company has combined a transformer-based mobility foundation model with a powerful passive sensor that, together, eliminate the need for lidar. As a result, Vayu’s Delivery Robot operates autonomously without pre-mapping the roads it intends to drive on and is capable of navigating inside stores, on city streets, and unloading packages on driveways or porches, carrying up to 100 lbs at under 20mph. This model is the first-of-its-kind, offering the most cost-effective, safe, reliable delivery system on the market. Vayu was co-founded by three highly-seasoned veterans from the robotics and mobility industry, Anand Gopalan, former CEO who took the world’s leading lidar supplier Velodyne public in 2020, Mahesh Krishnamurthi, formerly Apple SPG and Lyft, and Nitish Srivastava, also from Apple SPG and Geoffrey Hinton’s renowned AI lab in the University of Toronto. Geoffrey Hinton is also an advisor to the company. After working in major robotics and autonomy software for two decades, the trio realized large volume robotics applications, like robotics delivery, could only be unlocked by inventing a new technology stack that involved lower cost hardware and more robust software. “The unique set of technologies we have developed at Vayu have allowed us to solve problems that have plagued delivery robots over the past decade, and finally create a solution that can actually be deployed at scale and enable the cheap transport of goods everywhere” says Vayu Robotics CEO, Anand Gopalan. Vayu’s Delivery Robots are already being debuted in real-world applications. The company recently signed a substantial commercial agreement with a large e-commerce player to deploy 2500 robots to enable ultra-fast goods delivery, with similar commercial customers in the pipeline. The team is also working with a leading global robotics manufacturer to replace lidar sensors with Vayu’s sensing technology for other robotic applications. “At Khosla Ventures, we believe in backing businesses where critical and differentiated technologies can unlock a large market. Vayu is a great example of this where they have deployed novel sensing and their AI foundation models to a robotic challenge that can have immense economic and societal impact” said Kanu Gulati, Partner at Khosla Ventures. Anand Gopalan added: “Our software is robot form factor agnostic and we have already deployed it across several wheeled form factors.In the near future, Vayu's software technology will enable the movement of quadrupedal and bipedal robots, allowing us to expand into those markets as well.” Vayu has previously raised $12.7 million to fuel its mission to remove the hardware and software bottlenecks that have stunted the growth of e-commerce. Looking ahead, Vayu’s founders believe their revolutionary low-cost robotics nervous system can power a new wave of mobile robots in other use cases, too. “Autonomous delivery robots are only the tip of the iceberg,” said Anand Gopalan. With its cutting-edge innovation and deployment, Vayu is poised to lead the adoption of real-world robotics across industries. For now, Vayu’s scalable robotics architecture is set to empower small businesses to deliver products to their customers’ doorstep seamlessly. About Vayu Robotics Vayu Robotics is an AI company driven by the belief that the next wave of robotics solutions can be low cost, environmentally sustainable and inherently scalable. Vayu envisions a world where a new wave of intelligent systems will advance safe and sustainable human productivity. Vayu is building the foundation model for robotics – the next generation of AI to power perception and motion. Vayu’s team of engineers, technologists and business leaders come with decades of experience that bring together the best in machine learning, sensing and production, enabling the development of technology that will democratize robotics for widespread adoption. Vayu is backed by Khosla Ventures and Lockheed Martin Ventures. For more information please visit: https://www.vayurobotics.com/ Contact Details Vayu Robotics Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.vayurobotics.com/

July 23, 2024 07:00 AM Pacific Daylight Time

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BestGrowthStocks.Com Outlines Which Sectors and Companies Stand to Benefit Most from the AI Revolution Highlighting Serve Robotics

Serve Robotics Inc

Contact Details Media Source LLC Steve Macalbry +1 989-274-7778 editor@bestgrowthstocks.com

July 23, 2024 09:55 AM Eastern Daylight Time

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