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Accel Kicks-Off Atoms 3.0 Program with AI and Industry 5.0 focused Cohorts; unveils cohort structure

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  • Accel introduced Atoms 3.0 earlier this year in a new avatar of theme-based cohorts – Artificial Intelligence(AI) & Industry 5.0
  • The Atoms program was launched 23 months ago and, to date, has invested in 24 companies across two cohorts
  • The applications for the AI & Industry 5.0 cohort open on 26th July, 2023 and can be accessed at Atoms3.0

SINGAPORE and JAKARTA, Indonesia, Aug. 9, 2023 /PRNewswire/ — Global venture capital firm Accel today announced the opening of applications for the AI and Industry 5.0 cohorts under Atoms 3.0, the new avatar of Atoms designed to help early-stage AI and Industry 5.0 startups in India, Southeast Asia and the UAE.

Accel Atoms is an accelerator program that provides pre-seed and seed-stage startups with access to funding, personalized mentorship, and industry-specific guidance from top operators and founders. Since the launch of the program in August 2021, Atoms has invested in 24 companies across two cohorts. These companies have since raised a total of over $160mn in funding.

The revamped Atoms 3.0 program, based on valuable feedback from previous cohorts and the broader ecosystem, introduces a sector-based approach. Through closed groups, early-stage founders can collaborate, interact, exchange ideas, and grow together in a more personalized learning environment. The redesigned Atoms 3.0 program stands out as the sole sector-specific program catering to early-stage startups, featuring distinct and personalized cohorts tailored to various sectors.

The AI cohort will be led by Prayank Swaroop, while the Industry 5.0 cohort will be spearheaded by Barath Shankar Subramanian. They will be supported by a team of experienced Accel investors, operators  and mentors. Each cohort will consist of a small number of companies and will follow its own duration and methodology to help these companies prepare for success. Closed groups enable better collaboration, interaction, exchange of ideas, and collective growth, providing a more personalized learning journey.  

The program will consist of a series of workshops, mentorship sessions, and networking events designed to help startups validate their ideas, build their teams, and raise capital. Selected cohort companies benefit from:

  • Up to $500K in investment
  • Access to Accel’s mentorship network
  • Workshops on AI and Industry 5.0 best practices
  • Community events with other AI and Industry 5.0 startups
  • Meet-ups with potential customers
  • Mixers with investors and Accel portfolio companies
  • Perks from Atoms partners like AWS, Azure and Google Cloud
  • Webinars, On-ground events, AMA sessions with industry experts

The focus on AI and Industry 5.0 stems from Accel’s recognition of their immense potential to revolutionize industries and reshape the future:

  • The rise of AI presents a pivotal moment in human history, with the potential to significantly impact diverse industries and redefine the status quo. For the AI cohort, Atoms is looking for companies that are using AI innovatively for business applications as well as companies that are building development tools for the AI ecosystem.
  • Industry 5.0 represents a future where humans collaborate with smart manufacturing machines, fostering a carbon-neutral and energy-efficient industry. Accel aims to support startups operating in sectors such as manufacturing, pharmaceuticals, oil and gas, agri-tech, and food-tech, as these industries embrace the transformative power of Industry 5.0.

Prayank Swaroop, Partner at Accel, said, Zero-to-one is the most challenging journey for any entrepreneur, as it sets the foundation for the business. Our goal is to work with founders to develop the core DNA that makes a company exceptional.”

He further added, “We believe that AI will have a transformative impact on a wide range of industries, and we want to support the next generation of AI entrepreneurs in India and SEA. AI startups in this region need a lot of help in competing globally, with Atoms we intend to help these companies with a running start.”

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With insights from our first two Atoms cohorts, we have transformed Atoms 3.0 into a thematic venture, launching AI and Industry 5.0 cohorts aimed at providing bespoke guidance to handpicked startups.

Barath Shankar Subramanian, Partner at Accel, said, “At Accel, we believe that innovation has the power to reshape industries and create a lasting impact on society. There are strong tailwinds powering manufacturing and the next wave of growth will be powered by tech and our mission is to empower founders building that tech.”

He further added, “We are thrilled as we open the applications for the Industry 5.0 cohort. Together, we will build the foundations of tomorrow’s industries, unlocking unprecedented opportunities and shaping a future that is not only efficient and profitable but also inclusive and sustainable.”

The applications for the AI and Industry 5.0 cohorts of Atoms 3.0 are now open and will close on 10th September 2023 for AI and 23rd September 2023 for Industry 5.0. To apply, please visit [Website]

The cohorts with selected startups will commence on 20th September 2023 for AI and 30th September, 2023 for Industry 5.0.

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Read the Atoms blog to learn more about the redesigned Atoms 3.0 program (Link)

For more information on the Atoms program, visit (LINK)

About Accel

Accel is a global venture capital firm that aims to be the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Accel has been operating in India since 2008, and its investments include companies like BookMyShow, Browserstack, Flipkart, Freshworks, FalconX, Infra.Market, Chargebee, Clevertap, Cure Fit, Musigma, Moneyview, Mensa Brands, Myntra, Moglix, Ninjacart, Swiggy, Stanza Living, Urban Company, Zetwerk, and Zenoti, among many others. We help ambitious entrepreneurs build iconic global businesses. For more, visit www.accel.com or https://twitter.com/Accel_India.

Media Contact: 
Chaitali Pishay Roy 
[email protected] 
https://www.cprglobal.in
+91-9844469995 

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Logo: https://mma.prnewswire.com/media/2072878/Accel__Logo.jpg

 

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Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet

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Squad Labs announced that its Series A funding round, led by Electric Capital with participation from RockawayX, Coinbase Ventures, L1D, Placeholder, and Mert Mumtaz, will propel the launch of its Fuse smart wallet. The company aims to establish Fuse as a premier solution for securing and compounding personal digital wealth amid the growing onchain economy.

According to the company’s news release on June 12, smart accounts and smart wallets are gaining traction across blockchains as they offer a more intuitive, secure, and programmable user experience. Fuse abstracts seed phrases and provides features like wallet recovery, 2FA capabilities, and enterprise-level security for personal custody, simplifying the choice of storing digital wealth on-chain.

In addition to securing funding, Squad Labs also announced the public testing launch of Fuse on iOS. This move is part of their strategy to expand accessibility and refine functionality ahead of a full market release.

Meanwhile, a recent report from PYMNTS Intelligence explores blockchain’s role in enhancing cross-border payments. It suggests that integrating blockchain can streamline payment processing, enable digital-to-fiat currency conversion, and introduce stablecoins for faster and cost-effective cross-border transactions. Business-friendly decentralized finance (DeFi) solutions further automate and secure transactions via smart contracts, reducing dependence on traditional payment systems and enhancing security and transparency.

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The report underscores the significance of educating businesses and end-users about the benefits of blockchain-based cross-border payments. It advocates for partnerships with FinTechs and proactive engagement with financial institutions to drive adoption and improve industry-wide support for blockchain technologies in payments.

Overall, Squad Labs’ funding round and Fuse’s development represent strategic advancements in blockchain technology aimed at enhancing digital wealth management and transforming cross-border payment landscapes.

Source: pymnts.com

The post Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet appeared first on HIPTHER Alerts.

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Blockchain

TON Blockchain Surpasses Ethereum in Daily Active Users

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Ethereum’s comparative underperformance relative to TON can be attributed to several factors, notably the migration of a significant portion of its user activity to layer 2 scaling solutions. These solutions were not factored into the comparison with TON.

During a week marked by global crypto market fluctuations and cautious investor sentiment, The Open Network (TON), backed by Telegram, has seen substantial growth in user activity, surpassing Ethereum in daily active users.

Since the beginning of the month, TON and Ethereum have been closely vying for user engagement. However, leveraging Telegram’s extensive user base of 900 million, TON has consistently outpaced Ethereum for ten consecutive days starting June 1.

On June 3, TON achieved a significant milestone with 568,300 daily active addresses (DAAs), according to Artemis data. In contrast, Ethereum has not reached this level of activity since September 13, 2023.

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Delving Deeper
Ethereum’s apparent lower activity compared to TON can be attributed to various factors, including the adoption of layer 2 scaling solutions designed to enhance transaction throughput and reduce fees by processing transactions off the main Ethereum blockchain.

Consequently, the majority of Ethereum’s transactional activities have shifted to these layer 2 networks.

For instance, on June 11, the top three Ethereum layer 2 networks—Arbitrum, Base, and Optimism—collectively registered 1.3 million daily active addresses. This highlights that while Ethereum’s primary network may appear less active, substantial transactional volume is occurring on these secondary layers.

New Milestones and Market Performance
Despite the challenges of comparing directly with Ethereum, TON has demonstrated significant growth. Amidst the recent global market volatility, the network’s native token, Toncoin (TON), reached a milestone of $7.76 earlier this month, marking its highest valuation since launch.

Although Toncoin has since experienced a decline of over 12%, industry analysts remain optimistic about its future trajectory.

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A pseudonymous analyst, “Crypto King,” has forecasted a potential rise to $10 for TON in the near term, citing its robust user base, rapid infrastructure development, and Telegram’s support.

Another expert, Alex Clay, shares this positive outlook, suggesting short-term price targets of $10.5 to $11.6 for TON despite broader market downturns.

Furthermore, data from Token Terminal indicates promising long-term indicators for TON, showing a 3.6% rise in fully diluted market capitalization, a 76.3% increase in token holders, and a 26.0% growth in revenue and fees over the past 30 days.

Despite a slight decrease in trading volume by 11.6%, these metrics underline a strong underlying growth trend for TON.

Source: coinspeaker.com

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The post TON Blockchain Surpasses Ethereum in Daily Active Users appeared first on HIPTHER Alerts.

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Brickken is selected to participate in the European Blockchain Regulatory Sandbox

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Brickken, a startup based in Barcelona at the forefront of real-world asset tokenization, has been chosen to participate in the European Blockchain and Distributed Ledger Technologies (DLT) Regulatory Sandbox. This initiative aims to establish legal clarity for decentralized technologies like blockchain by identifying legal and regulatory hurdles to deployment. It will provide confidential guidance, legal counsel, and regulatory expertise.

Facilitated by the European Commission, this program will enable regulators to deepen their understanding of cutting-edge blockchain technologies and foster dialogue between public institutions and private entities such as Brickken.

By joining the European Regulatory Sandbox, Brickken gains the opportunity to refine and enhance its solutions within a secure environment. This will bolster its credibility with institutional clients, market operators, and bond issuers, facilitating its expansion into new markets. Brickken seeks to become a strategic partner for various participants in capital markets, enhancing operational efficiency and promoting technological synergy in digital asset management.

Edwin Mata, CEO and co-founder of Brickken, expressed excitement about this selection, emphasizing:

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“This opportunity validates our innovative approach to asset tokenization and allows us to collaborate closely with regulators and industry leaders to strengthen the blockchain ecosystem. The knowledge and experience gained in this regulatory sandbox will be invaluable for our future growth and success.”

Brickken’s inclusion in this sandbox marks a significant milestone in its mission to revolutionize the tokenization industry. Recently selected for PricewaterhouseCoopers’ Scale program for tokenization and digital assets, Brickken continues to advance blockchain adoption among institutional clients, banks, and capital markets. Additionally, the company has forged partnerships with industry leaders like Psalion and Chainlink, known for their real-world asset tokenization technology.

In collaboration with Coinbase, Brickken aims to set new standards in infrastructure and market structure for real-world asset tokenization. Leveraging Coinbase’s technology such as Wallet and Base, Brickken brings its expertise in tokenization and technology to build robust solutions.

Established in Barcelona in 2020 by Edwin Mata, Yassir Haouati, Bram Duindam, and Dario Lo Buglio, Brickken has experienced rapid growth, operating in over 14 countries and tokenizing assets exceeding 200 million euros. With a client base of over 50, the company has achieved over 100% growth compared to the previous year and is expanding into new verticals.

Brickken’s digital asset platform specializes in tokenizing financial instruments such as equity and debt, catering to entities of all sizes, asset types, and jurisdictions. Offering robust technological support, Brickken enables market entry without the need for proprietary technology development. This positions Brickken to serve diverse sectors including real estate, startups, institutions, venture capital funds, and family offices, facilitating efficient digitization and management of assets.

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Source: cointelegraph.com

The post Brickken is selected to participate in the European Blockchain Regulatory Sandbox appeared first on HIPTHER Alerts.

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