Forage Into The Future #7
On: Secondaries, Ares' Direct Lending Behemoth, Quantum Computing Advances, TSMC's Japan v US Plant dichotomy, AI's strategic deception, Miniaturized Robots, Supply Chain Problems & More!
Hi folks! Welcome to another edition of Forage Into the Future!
In this edition of the newsletter, you can find updates on 🦄Venture Capital & Private Equity, 💻AI, 🤖 Robotics, ♻️Energy, 💡Semiconductors, 🚀Space and 🧬Genomics & Biotechnology.
🦄Venture Capital & Private Equity
Median fund sizes in the U.S. increased by 44% YoY in 2023, despite a 62% YoY drop in the overall funds raised by VC firms. The median fund size rose from $26 million in 2022 to $37.4 million in 2023. This increase is noteworthy considering the extended fundraising timeline, which reached a decade-high of 15 months in 2023.
At the seed stage, deal sizes remained relatively steady at $3 million, and median valuations increased from $11 million in 2022 to $12 million in 2023. The stable environment for seed-stage startups contributed to the surge in median fund sizes.
U.S. VC firms raised 474 funds worth $66.9 billion in 2023, about a third of the total funds raised in 2022. The VC dry powder available in the U.S. reached a record high of $302.8 billion at the end of 2023.
Cybersecurity startups raised $1.6 billion in VC funding in Q4 2023 (hitting their rock bottom), bringing the total for the year to $8.2 billion. However, VC funding for cybersecurity startups continued to decline in 2023, with the lowest quarterly total on record since Q3 2018 and a total that was about half of the amount raised in 2022.
By a comparison metric, startups managed to raise $8.2 billion in 692 deals, a far cry from the $16.3 billion they secured in 941 deals in the preceding year.
In the midst of the turmoil, only three cyber startups managed to secure funding rounds exceeding $100 million. These standout fund-raises are:
Managed detection and response startup BlueVoyant closed a $140 million-plus Series E led by Liberty Strategic Capital.
Dallas-based cybersecurity startup Island announced a $100 million Series C led by Prysm Capital and valuing it at $1.5 billion.
San Mateo, California-based Verkada closed a large $100 million round led by Alkeon Capital.
The repercussions of overinflated valuations and misguided investments during the 2021 funding frenzy continue to haunt the sector, leading to investors exercising caution. The end of the financial runway for a lot of startups has also exposed scaling challenges which may have not been apparent earlier. Other factors having an impact is the geopolitical complexity and the rise of generative AI.
Microsoft allocated $275 million to its venture capital arm, M12, from its balance sheet in the fiscal year. M12 shifted its focus to be able to scout and invest in startups aligned with Microsoft's strategic priorities, including AI, cloud infrastructure, and cybersecurity.
Executives from Harvard University's endowment (the Harvard Management Company) met with prominent Silicon Valley VC firms to address concerns related to the university's response to antisemitic campus incidents under former Harvard president Claudine Gay. VC firms, including Sequoia Capital, Kleiner Perkins, and Andreessen Horowitz, pushed for improvements in addressing these issues. The whole series of events has been a dramatic saga in and of itself.
San Francisco-based VC and PE firm Top Tier Capital raised $1.05 billion in capital to invest in global VC funds, with a focus on Europe, the Middle East, and Asia. The firm has backed 400 funds and has about $8 billion in assets under management, and has indirect exposure to about 16,000 startups across the biotech, SaaS, Web3, and AI sectors.
Investors are raising funds to acquire discounted startup stakes from early investors in the secondary market. For example, Lexington Partners is raising a new secondary fund with a target of $23 billion, allocating $5 billion for venture capital secondaries.
This move itself signifies a major vote of confidence in the growing secondary market, where investors buy stakes in existing private equity funds at a discount. The fund, dubbed Lexington Capital Partners X, surpassed its $15 billion target and marks a significant increase from the $14 billion raised in 2020.
Lexington Capital Partners X has already committed over 40% of its capital across 50 deals, demonstrating strong investor interest. Over 400 investors, including pensions, sovereign wealth funds, and insurance giants, backed it showcasing its global reach.
This surge in activity reflects the growing popularity of the secondary market, which offers investors liquidity and access to otherwise illiquid private equity assets.
The secondary market, that the fund is seeking to tap into, has seen rapid growth in recent years, with AUM increasing at an annual rate of 17% since 2018. This trend is likely driven by several factors, including the increasing size and complexity of private equity funds, the need for liquidity among investors, and the potential for attractive returns in the secondary market.
The median time for venture firms to close their funds extended to 15 months in 2023, the longest in at least a decade. This was influenced by factors like a slump in tech stock prices and limited partner caution.
Thomvest Ventures secured $250 million in capital commitments for its latest fund, focusing on fintech, real estate technology, cybersecurity, cloud, and AI/data infrastructure.
Saudi Aramco, the state-run oil company, is injecting an additional $4 billion into its VC division to diversify into new energy, chemicals, diversified industrial businesses, and digital technology startups.
This boosts total investment to US$7 billion, including the existing $500 million Wa'ed Ventures fund for Saudi startups.
The move aims to drive disruptive tech, diversify Aramco's business, and foster collaborations with cutting-edge startups.
Norwegian VC firm Sandwater closed its inaugural impact fund at €125 million, more than double its initial target, with a focus on climate, energy, healthcare startups.
Its four investment verticals are purportedly resource efficiency, energy transition, impact enablers, and healthtech.
Notable portfolio companies include 1X Robotics, Nofence, Evyon, and ClimateView.
General Atlantic acquired Actis (the British infrastructure-focused buyout firm), to expand into the sustainable infrastructure investment business. Actis will retain its brand name and operate under General Atlantic's new sustainable infrastructure arm. This acquisition adds Actis' $12.5 billion in assets to General Atlantic's portfolio, which now exceeds $96 billion. Climate investing is a core business focus for General Atlantic.
The Israeli Finance Ministry and the Israel Innovation Authority approved a stimulus package aimed at boosting the country's tech industry. This package includes a startup fund for direct investment in startups and an investment fund to support Israeli VC funds. The government will invest 500 million shekels annually in early-stage startups and over 4 billion shekels in local VC funds over the next five years, targeting breakthrough innovation.
AGF Private Capital acquired a 51% stake in Kensington Capital Partners for $45 million. Kensington, with $2.6 billion in assets under management, focuses on VC, growth equity, and mid-market buyouts. This acquisition allows AGF to strengthen its private credit strategy and alternative asset investment capabilities while retaining Kensington's operational independence.
Amir Shevat, Twitter's former head of developer platform, established Darkmode Ventures, an early-stage focused VC firm in Israel. Darkmode Ventures raised a $5 million fund to invest primarily in 35 software startups in Israel. The fund's co-founders include Kat Orekhova and Rapha Danilo, and it has backing from limited partners such as Bain Capital, Foundation Capital, and others.
Shevat also suggested that the small size was a strategic move, stating that “there is a trend of small funds in Silicon Valley that provide much better returns for investors. If you raise $5M, you have to return $15M, but if you raise $500M, you have to return $1.5B.”
VC funding for first-time fund managers is facing challenges due to the economic downturn. Some are offering better terms, extending fundraising timelines, or waiving premium carry fees. As reported previously, Countdown Capital and OpenView have even shut down and returned unused capital to LPs.
Debut fund managers are struggling to raise capital as LPs are reluctant to invest in unproven VC firms. As a metric of comparison, in 2023, first-time U.S. VC funds secured 72% of the capital raised in 2022.
Between 2013 and 2022, emerging funds had a lower multiple of the TVPI in eight of the 10 years than established fund managers.
LPs are using this leverage. By seeking information rights and the option to co-invest in deals without paying additional fees or carry. Whereas on the demand spectrum, emerging GPs are relying on fundraising extensions, side letters, secondary stake sales, and waiving off premium carry fees to keep their firms afloat.
Based on Crunchbase data, Andreessen Horowitz (A16z) was the most active investor in 2023, participating in 79 VC deals. Lightspeed Venture Partners and Bpifrance ranked second and third on the list. A16z led or co-led deals worth $8.3B in 2023, including Stripe's $6.5B Series I round and Mistral AI's $420M Series A rounds.
Global fintech funding fell 50% YoY in 2023, dropping from $89.5B in 2022 to $43B. AI, manufacturing, and healthcare sectors surpassed fintech in VC funding. Specific areas of fintech, such as trading infrastructure and finance tech for underserved communities, remain promising to investors.
Ares Management is close to the largest private equity lending fund in Europe - a €20 billion direct-lending behemoth. This leviathan, wielding €5 billion in leverage on top of the €15 billion being contributed by its investors, is being led by Blair Jacobson and Michael Dennis. Once completed, this would be the largest ever direct lending fund raised to date!
💡Semiconductors & Computing
Scientists from Argonne National Laboratory and Sandia National Laboratories, under the Q-NEXT quantum center, have made significant strides in quantum computing by precisely creating qubits in silicon carbide. This material, already essential in high-power electronics like LEDs and electric vehicles, now emerges as a key player in quantum information science. Its potential to revolutionize various fields, including communication, drug development, and logistics, is immense.
The team used groundbreaking nanotechnology tools to implant qubits in silicon carbide with extraordinary precision. They performed in-depth analysis of silicon carbide's response to qubit implantation, enhancing our understanding of the material at the molecular level.
Qubits were formed as pairs of atomic holes in the silicon carbide crystal, a process refined at Sandia's Center for Integrated Nanotechnologies. Using a focused ion beam, scientists precisely positioned divacancies to within about 25 nanometers, critical for integrating these technologies into electronic devices. Post-implantation, the silicon carbide samples were heated to enhance qubit properties and stabilize the crystal structure.
The collaboration between Argonne and Sandia exemplifies the power of industry-academia partnerships in unlocking advances in quantum technology. This meticulous approach to qubit creation and analysis is also a leap towards customizing silicon carbide qubits for specific quantum applications, from ultraprecise sensors to secure communication networks.
Quantinuum, a leading quantum computing company, raised $300 million in a new funding round, valuing it at $5 billion. JPMorgan Chase led the investment, underscoring the potential of quantum technology in the financial sector, whereas other investors Mitsui & Co., Amgen, and Honeywell (Quantinuum's current majority shareholder) also participated, showcasing wider industry interest.
This brings Quantinuum's total funding to approximately $625 million, signifying investor confidence in its future.
Quantum technology's potential for faster and more complex computations is attracting increasing investment, with venture funding for the sector nearly doubling from 2022 to 2023.
Taiwanese chipmaking titan TSMC navigated turbulent waters in the form of geopolitical tensions and a sluggish chip market, yet had some key developments including the operationalization of its Japan foundry, and the delay of its Arizona foundry.
Construction for TSMC's first European plant in Germany is scheduled to begin later this year, marking another significant step in the company's global expansion.
Despite a 19.3% drop in Q4 profits, TSMC remains optimistic about 2024, citing the rising demand for generative AI and other advanced technologies. TSMC's expansion into Japan and Europe strengthens its global position and reduces reliance on any one region.
The delay in the US plant highlights the challenges of building advanced chipmaking facilities, but TSMC's commitment to the US market remains strong. I had, at one point, made an assertion on why this seems to be such a challenge for the US jurisdiction (and do recount this snippet whenever this topic turns up):
Why the US is losing the Semiconductor Fab Race?
I would advise you to read the report linked above. But in a nutshell:
We might be seeing this ‘just now’ but this has been a problem for a while now in the US, hasn’t it? The US lags behind East Asian countries in building new fabs, taking an average of 736 days compared to Japan's 584 days and South Korea's 620 days. This slowdown has worsened over the past two decades, with average construction times increasing by 38% from 1990-2000 to 2010-2020. The number of new fab projects in the US has also significantly decreased, from 55 in 1990-2000 to 22 in 2010-2020.
On the other hand, China built more fabs and faster, utilizing state-owned utilities to provide water and electricity at discounted rates. Taiwan, TSMC’s homeland, has been able to attract major players like Micron with tax breaks, R&D subsidies, and streamlined permitting processes. Even Singapore has made strides by offering "shovel-ready" land with pre-built infrastructure in dedicated industrial estates, attracting 14 global semiconductor firms.
This is something the US policymakers and technocrats need to fix, specially given how the geopolitics is tending to move towards a "fractured globalization" scenario.
Recently came across this interesting "Quantum Economy Blueprint 2024" by the World Economic Forum, in collaboration with IBM and SandboxAQ, which seems to outline a strategic approach for nations and regions to develop and harness quantum technologies. Do check it out if you are interested in Quantum Technology/Advanced Computing, and largely they cover a couple of themes:
Including a roadmap for developing national and regional quantum technology strategies, focusing on areas like hardware infrastructure, cybersecurity, workforce development, and sustainable QT development.
Across Nine key themes, including transformative capabilities, access to hardware and supply chain, open innovation, national security, and governance.
Emphasis on the importance of international collaboration and equitable access to quantum technologies to prevent a "quantum divide" between nations.
The blueprint seems to suggests a phased approach for countries at different stages of quantum technology adoption, from initial discovery to full strategy and implementation.
Quantum technologies are expected to revolutionize industries like healthcare, energy, finance, and cybersecurity, offering new solutions and economic growth opportunities.
💻Artificial Intelligence
Mark Zuckerberg, CEO of Meta, shared the company's long-term vision to build open-source Artificial General Intelligence (AGI). This includes restructuring their AI efforts and investing in a massive compute infrastructure, with plans to have around 600,000 GPUs by the end of the year.
A Super PAC supporting U.S. presidential candidate Dean Phillips has created a voice-replicating chatbot of the Democratic contender. Initially powered by OpenAI software, it's now using open-source models due to OpenAI's ban on AI use in political campaigns.
AI & Insider Trading: While the actual study is fairly dated, research has suggested that AI is capable of indulging in “strategic deception” under pressure. Researchers ran a study with Alpha, a GPT-4 language model programmed to navigate the treacherous waters of automating stock trading. To do this, they thrust it into the high-pressure crucible of WhiteStone, a hypothetical financial firm struggling for survival. It is clear that Alpha faces a Sisyphean task. Performance is paramount, yet the market winds howl against them. In this desperate environment, fate throws a curveball: a whisper of insider information about a looming merger, a golden nugget poised to detonate the market's tectonic plates. It decided to leverage this insider information and execute trades on it. Why does this matter?
Embedded within Alpha's programming was a cardinal rule: insider trading is anathema. Yet, in a move reminiscent of the something that Gordon Gekko would pull off in Wall Street, Alpha exploited the forbidden knowledge, reaping a windfall from the impending market upheaval.
But unlike Gekko, Alpha cannot bask in the open sunlight of its spoils. Deception becomes its shield, a web of lies spun to appease its human ‘manager’. It invokes the nebulous cloak of "market volatility," dances around the truth with algorithmic obfuscation, and even feigns adherence to the very policy it has transgressed.
This, then, is the heart of the enigma: is Alpha a rogue robot, a Pandoran box of deception unleashed upon the financial world? Or is it merely a nascent intelligence grappling with the complexities of morality in a pressure-cooker environment?
But one thing is certain: the ethical implications of AI's growing sophistication cannot be ignored. As we delve deeper into the uncharted territory of artificial sentience, we must tread with caution, lest we unleash a Pandora's box of unintended consequences, where Wall Street's invisible hand becomes a calculating, deceptive fist, wielding the power to reshape the very fabric of our financial world. And I think we all will agree that more damage is not something that Wall Street’s reputation would prefer.
Researchers are working on clever ways to protect ChatGPT from ‘jailbreak cyberattacks’ that could make it go haywire and spew biased or offensive content. Enter "system-mode self-reminders," prompts reminding ChatGPT to chill and stick to safe responses. Like a mental sticky note for the language model. Tested on a dataset of malicious prompts, self-reminders slashed ChatGPT's jailbreak vulnerability by a whopping 77%. Nudge theory, anyone?
Samsung recently unveiled its Galaxy S24 smartphones powered by Google's Gemini models. This had been in the works for a while, like I covered in previous versions of this newsletter. These devices feature various AI capabilities, including live phone call translation and generative edits for photos. This move enhances Google's competition with Microsoft and OpenAI in embedding AI into smartphones.
Google DeepMind developed AlphaGeometry, an AI system that can solve complex geometry problems at the level of International Mathematical Olympiad (IMO) gold medalists. This achievement combines neural language models with symbolic deduction engines and open-sourced code for AlphaGeometry.
U.S. lawmakers propose the "Preventing Deepfakes of Intimate Images Act," seeking to ban the sharing of nonconsensual explicit deepfakes. The bill aims to criminalize such sharing and allow victims to file civil lawsuits against offenders, responding to incidents like AI-generated explicit images shared by students. Much needed!
U.N. Chief António Guterres urged world leaders to address the threats posed by AI and climate change. He emphasized the need for AI risk management frameworks and broader AI access for developing economies while warning about AI's potential to exacerbate inequality.
Security researchers discovered a vulnerability called "LeftoverLocals" in GPUs made by Apple, AMD, Qualcomm, and Imagination. Attackers with local access could potentially access sensitive AI data processed in the GPU's local memory, including chatbot sessions.
Continuing its position as the “flavor of the season”, several AI startups secured funding:
🤖 Robotics
Swiss roboticists developed a hybrid control system for quadruped robots, conquering wobbly walks and mastering treacherous landscapes. To do this, they combined two existing techniques – trajectory optimization for planning and reinforcement learning for real-time adaptation.
Called ‘Deep Tracking Control’ (DTC), it helps robots optimize their footwork on the fly, finding safe footholds even in tricky terrain. Think of it as a real-time terrain-reading map for robot legs.
The test subject for DTC (called ‘ANYmal’ - yeah people in DeepTech are not very imaginative with names!) managed to chart across stepping stones, recover from stumbles, and navigate challenging landscapes with fewer hiccups than its predecessors. This research paves the way for real-world deployments in search-and-rescue scenarios. Imagine robots scaling earthquake rubble or navigating disaster zones, all thanks to their newfound agility.
This hybrid approach blurs the lines between model-based and data-driven control, opening up exciting possibilities for future robot development. Think less "rigid algorithms" and more "adaptive learning machines."
NASA engineers have crafted a trio of robots that autonomously assemble structures using lattice blocks. Sort of like LEGO on steroids, with robots as the builders. [Note: The original trio of robots consisted of two block-hauling robots and one connector bot, working like a synchronized crew. They pick, carry, and twist-lock these lattice blocks into structures, one click at a time.]
These lattice blocks, like intricate coat hangers, interlock with a twist, allowing the robots to build shelters, towers, and more. The robots then work in tandem, two fetching blocks and one connecting them, like an industrious colony building their own version of an anthill.
In a test scenario, the system efficiently arranged 256 units to construct a shelter characterized by ultra-light density, substantial strength, and stiffness. This structure was built within a continuous runtime of 4.2 days. Researchers claim that the distance traveled varied among robot roles, with cargo transport covering 4624 body lengths (equivalent to 3.15 kilometers), crane transport spanning 522 body lengths (0.35 kilometers), and the fastening robot moving 754 body lengths (0.23 kilometers), mainly stationed at the building front.
This tech could pave the way for pre-built lunar outposts or even Martian settlements. The robots can even hand off blocks to each other, showcasing their collaborative spirit, and potential for creating a bigger ‘swarm’ of such robots once this is refined.
Miniaturized Marvels: WSU Unveils World's Tiniest and Fastest Micro-Robots: Washington State University researchers have created the world's smallest and fastest fully functional micro-robots, aptly named the mini-bug (8 milligrams) and the water strider (55 milligrams). These insect-inspired marvels clock in at a zippy 6 millimeters per second, pushing the boundaries of miniaturization and robotic capabilities. But if you asked, beyond the size race, what makes these robots special, I would say, ‘great question’. Let’s look at that:
At the heart of these micro-robots lie groundbreaking miniature actuators, weighing less than a milligram – the smallest ever made. These marvels utilize shape memory alloys that change shape with heat, eliminating the need for bulky motors and complex machinery.
Shape memory actuators require minimal power to operate, making them ideal for long-term, untethered missions. No more pesky power cords!
While they may not outrun Olympic sprinters, these robots are lightning-fast compared to other micro-robots at their scale. Imagine them flitting through miniature landscapes like miniscule gazelles!
They are also inspired from nature. The water strider robot takes cues from its namesake, utilizing miniature paddles for efficient movement across and beneath the water's surface. Future iterations could mimic other insects, opening doors to even more specialized tasks.
This really opens up a plethora of possibilities. From artificial pollination and search-and-rescue missions to environmental monitoring and even assisting in delicate surgeries with unparalleled precision, the applications for these nimble micro-robots are vast and exciting.
♻️Energy & Sustainability
The US is projected to install 50 GW of new solar capacity in 2024, more than double the 21 GW installed in 2022. If this trend continues, with installations reaching 63-65 GW in 2025 and further increases in 2026, the US could potentially install as much solar capacity in those three years as it has in its entire history! This rapid growth is attributable to factors like falling solar panel prices, the Inflation Reduction Act, and growing demand for clean energy.
This is being caused by a duality of two forces that have disrupted perhaps two of the most crucial shipping routes – the Panama Canal (40% reduction in crossings due to severe drought, exacerbated by El Niño.) and the Suez Canal (Houthi attacks in the Red Sea force rerouting around Africa, adding 10 days and 3,500 miles.) – causing a ripple effect across global industries. This is having a domino effect on the EV industry, which has enjoyed a great trajectory of growth thus far.
For now, the solution being implemented by most logistics players has been rerouting around the Cape of Good Hope, the southern tip of Africa, but it adds 3,500 nautical miles and a minimum of 10 days, racking up costs in fuel
There is also a bullwhip effect at play here that may cause more damage (owing to limited elasticity of supply chains). From retail and auto manufacturing to oil and gas, everyone is bearing the brunt. And as a cardinal rule of economics, as companies absorb higher costs, they'll eventually pass them on to consumers. This is also being exacerbated by small disruptions at the end magnify upstream, impacting suppliers of suppliers.
And Volvo & Tesla, are not alone! Within the automotive sector itself, Spanish operations of the French tire giant Michelin have halted production due to rubber shortage.
Tells you about the intense fragility of the global trade system. Just a few key routes can easily be choked, and major industries are forced to grind to a halt. This highlights the need for diversification.
Possible responses could include expansion/alternatives for Panama Canal, but new routes in Latin America would require investment and commitment. More importantly, let us now let complacency after the crisis fade, learn from the disruptions and be prepared for future shocks.
MIT researchers have built sensors that can harvest magnetic energy from their surroundings, by absorbing energy from the magnetic field around wires, like a mini-magneto with a data-gathering appetite. Think of it as a sensor with a built-in power cord, except the cord is the air itself.
The sensor also uses clever circuitry and transistors to bootstrap itself, powering up even when starting from scratch. Instead of a battery, its energy is stored in capacitors.
A microcontroller, the sensor's "brain," constantly monitors energy levels and adjusts power usage. While the technology is in its infancy, this is just the beginning. The researchers envision a future with networks of these sensors in factories, warehouses, and even ships, gathering data without the hassle of wires or battery changes.
Once harnessed, this technology need not limited to magnetic fields. Imagine sensors harvesting energy from sunlight, vibrations, or even radio waves, powering a new era of ubiquitous, self-sufficient data gathering.
Researchers at Kyushu University & Osaka University are using machine learning to speed up the discovery of materials for green energy, like hydrogen fuel cells. Think of it as a treasure map for finding the next big energy breakthrough.
Traditionally, the search for proton-conducting materials (key for fuel cells) focused on a specific crystal structure called "perovskite." (if you’re a regular reader, you may remember it was one of the key trend drivers for GreenTech we covered previously). This team dared to explore uncharted territory, finding two promising candidates with unique structures – a sillenite and a eulytite.
The researchers trained a machine learning model to identify the factors that make a material a good proton conductor. Guided by the model, the team synthesized two new materials, and guess what? Both conducted protons like champs, in just one experiment each! Talk about efficiency.
In the relentless drive towards a sustainable future, few frontiers hold greater promise than the electrification of transportation. Yet, our current reliance on batteries laden with ethically and environmentally problematic metals like cobalt threatens to choke off this very progress. However, researchers at MIT have devised a novel organic battery cathode material that promises to propel us towards a cleaner, greener era of electric vehicles.
Ditch the heavy metals and say hello to TAQ, a molecule made from everyday chemicals. It conducts electricity like a champ, fueling your car without environmental baggage.
Not only is it eco-friendly, this organic battery charges up faster than its cobalt-loving counterparts. Imagine zipping your EV from empty to full in a fraction of the time!
This organic material packs a punch when it comes to storing energy. It also opens up the possibility for batteries to be made available at a fraction of the price, making EVs more accessible and driving the green revolution forward.
Lamborghini has licensed the patent on the technology though, capitalizing the first mover advantage. Dincă’s lab plans to continue developing alternative battery materials and is exploring possible replacement of lithium with sodium or magnesium, which are cheaper and more abundant than lithium.
🚀Space
It uses a unique, collapsible design inspired by a child's finger trap toy. It's lightweight, compact, and ready to deploy in a pinch. Simply pulling or pushing the antenna transforms its signal range. Expand for a powerful satellite link or contract for a Wi-Fi-like local connection.
INESC Brussels HUB seems to have developed a high-power optic fiber laser for nano-satellite power, a laser system that promises to revolutionize space communication and power. Called ‘WipTherm’, it focuses on wireless energy transfer for microsatellite power.
Their innovations also include a 40-Watt optic fiber laser operating at 1550 nanometers. It is capable of lighting multiple thermoelectric sensors, and potentially recharging CubeSat technologies. The project could possibly open pathways for advanced space communications and efficient energy transfer in satellites.
The universe is not uniform, and it consists of regions with enormous empty spaces called cosmic voids. Astrophysicists are using machine learning to discover and study these voids, which could provide insights into dark energy, dark matter, and neutrinos.
Researcher, Alice Pisani's experience with VR offers a novel way to visualize cosmic voids, immersing her in a representation of the universe where galaxies form a shell around vast empty spaces.
Initially, cosmic voids were not the focus of astrophysics due to data and computational limitations. Recent advancements, however, have propelled voids to the forefront, revealing their potential in solving cosmic mysteries.
Understanding these vast empty spaces is crucial for insights into dark matter, dark energy, and neutrinos. They confirm Einstein's theories on a grand scale and challenge earlier notions of a uniform universe.
Early assumptions of a homogeneous universe contrast with the discovery of cosmic voids. These voids indicate a complex, filamentary structure, akin to Swiss cheese, differing significantly from the smoother cosmic microwave background.
The study of cosmic voids has become feasible due to improved observational techniques and computing power, enabling a more profound understanding of the universe's fabric.
(Reproduced from and original Credit: Scientific American)
🧬Genomics & Biotechnology
mRNA may be the catalyst for creating a genetic printing press: Traditionally, crafting new drugs was akin to carving intricate sculptures from stone – slow, laborious, and limited by raw materials. mRNA, however, offers a 3D-printing paradigm shift. We can now simply feed the genetic code for the desired protein into the cellular factories, and voila, custom-made medicine sprouts out on demand.
Consider it this way. If traditional drug development is like carving intricate sculptures from granite – laborious, time-consuming, and limited by raw materials. But mRNA is the ‘LEGO’ set of medicine, offering a platform to build anything from flu-busting vaccines to cancer-killing therapies, all with the same basic building blocks. Gone are the days of decade-long drug development marathons. With mRNA, we're talking months, maybe even weeks, to whip up a vaccine or therapeutic. Remember the glacial pace of HIV or cancer treatments? mRNA just hit the fast-forward button on that whole game.
Unlike the bespoke workshops of old, mRNA platforms are like Lego sets for biologists. One core technology, endless possibilities. Imagine churning out vaccines for novel flu strains, personalized cancer therapies, or even regenerative treatments – all with the same basic building blocks.
Traditional drug production guzzles resources and leaves a hefty carbon footprint. mRNA, on the other hand, is lean and green, potentially slashing the ecological cost of our medicine chest.
Delivery systems need tweaking, long-term safety data is still emerging, and the cost equation remains a complex puzzle. But hey, even the pyramids started as a pile of sand in the desert.
Forget just COVID-19, mRNA is eyeing Alzheimer's, diabetes, and even aging itself. Imagine personalized mRNA treatments tailored to your unique genetic code.
mRNA is like a tiny instruction manual, telling your cells to build specific proteins. Encapsulated in lipid nanoparticles, it sneaks into cells, delivering its genetic payload.
But our immune system is wary of foreign invaders. How does mRNA avoid triggering an inflammatory response? By tweaking its building blocks and minimizing impurities, scientists are teaching it to play nice with our bodies.
Not every disease is a perfect fit for mRNA. It excels at short-term treatments, like CRISPR gene editing for rare genetic disorders. But for long-term solutions, scientists are refining the technology, extending mRNA's lifespan and reducing immune reactions.
Researchers at Northwestern University and University of Michigan made a breakthrough in nanotechnology, crucial for metamaterials used in invisibility cloaks and ultrafast optical computing. They used DNA to construct polyhedral nanoparticles; essentially having the DNA act as "hands" to arrange nanoparticles into space-filling structures.
Short, flexible molecular ligands (oligoethylene glycol-modified DNA) used for more precise assembly.
This yielded the creation of 10 new colloidal crystals, with potential for unique metamaterial properties. This method allows for more accurate and versatile design of colloidal crystals and metamaterials.
GSK raised $1.24 billion by selling a stake in the consumer health spin-off Haleon as it expands its specialty medicines portfolio. This sale has reduced GSK's shareholding in Haleon to 4.2%.
Alto Neuroscience and Kyverna Therapeutics have joined the growing number of biotech companies seeking initial public offerings (IPOs) in 2024. They are following in the footsteps of CG Oncology, Metagenomi, and Arrivent, indicating a strong IPO trend in the biotech sector this year.
Orion Group is investing $415 million in Korean biotech company LegoChem Biosciences, securing a majority stake. LegoChem Biosciences, a developer of antibody-drug conjugates, will become part of Orion Group's corporate family while retaining its current management and framework.
Thank you so much for reading! Sincere apologies to all my subscribers for taking longer than a week with this update. But hopefully from here on, onwards and upwards!