12 19 23 Bird files bankruptcy, hackers strike Sony again, & a new generation of startup 'undertak
First up, the FTC has called out pharmacy chain Rite Aid for deploying facial recognition systems to monitor customers and tag some as suspected shoplifters without proper consent or transparency about this invasive use of technology. This highlights growing concerns about privacy and ethical use of AI tools like facial recognition in retail environments.
In cybercrime news, an international coalition of law enforcement agencies successfully seized infrastructure and tools used by notorious hacking group ALPHV, also known as Black Cat. This group had compromised over 1000 organizations globally and extorted hundreds of millions of dollars through ransomware attacks. Authorities warn companies to urgently address any network vulnerabilities.
On the startup front, legal tech startup Harvey.ai raised $80 million to continue developing its AI tools for automating legal workflows. In a notable contrast, Indian social network ShareChat is raising capital at a diminished $1.5 billion valuation compared to $4.9 billion last year - highlighting the startup funding crunch.
Other startups raising big rounds include cyber training platform SimSpace with $45 million, clean energy tech startup Sweetch Energy with $27.4 million, and drug discovery AI startup Unnatural Products with $32 million.
Finally, sustainability remains an investment theme. Sustainable fuels maker Aether Fuels raised $8.5 million while materials startup TomTex and renewables analytics platform Annea also secured new funding.