translink capital
Auto Added by WPeMatico
Auto Added by WPeMatico
By the time Porter co-founders Trevor Shim, Alexander Belanger and Justin Rhee decided to build a company around DevOps, the pair were well versed in doing remote development on Kubernetes. And like other users, they were consistently getting burnt by the technology.
They realized that for all of the benefits, the technology was there, but users were having to manage the complexity of hosting solutions as well as incurring the costs associated with a big DevOps team, Rhee told TechCrunch.
They decided to build a solution externally and went through Y Combinator’s Summer 2020 batch, where they found other startup companies trying to do the same.
Today, Porter announced $1.5 million in seed funding from Venrock, Translink Capital, Soma Capital and several angel investors. Its goal is to build a platform as a service that any team can use to manage applications in its own cloud, essentially delivering the full flexibility of Kubernetes through a Heroku-like experience.
Why Heroku? It is the hosting platform that developers are used to, and not just small companies, but also later-stage companies. When they want to move to Amazon Web Services, Google Cloud or DigitalOcean, Porter will be that bridge, Shim said.
However, while Heroku is still popular, the pair said companies are thinking the platform is getting outdated because it is standing still technology-wise. Each year, companies move on from the platform due to technical limitations and cost, Rhee said.
A big part of the bet Porter is taking is not charging users for hosting, and its cost is a pure SaaS product, he said. They aren’t looking to be resellers, so companies can use their own cloud, but Porter will provide the automation and users can pay with their AWS and GCP credits, which gives them flexibility.
A common pattern is a move into Kubernetes, but “the zinger we talk about” is if Heroku was built in 2021, it would have been built on Kubernetes, Shim added.
“So we see ourselves as a successor to Heroku,” he said.
To be that bridge, the company will use the new funding to increase its engineering bandwidth with the goal of “becoming the de facto standard for all startups.” Shim said.
Porter’s platform went live in February, and in six months became the sixth-fastest growing open-source platform download on GitHub, said Ethan Batraski, partner at Venrock. He met the company through YC and was “super impressed with Rhee’s and Shim’s vision.
“Heroku has 100,000 developers, but I believe it has stagnated,” Batraski added. “Porter already has 100 startups on its platform. The growth they’ve seen — four or five times — is what you want to see at this stage.”
His firm has long focused on data infrastructure and is seeing the stack get more complex, saying “at the same time, more developers are wanting to build out an app over a week, and scale it to millions of users, but that takes people resources. With Kubernetes it can turn everyone into an expert developer without them knowing.”
Powered by WPeMatico
Bestmile, a transportation software startup, has raised $16.5 million in a Series B round led by Blue Lagoon Capital and TransLink Capital.
Existing investors Road Ventures, Partech, Groupe ADP, Airbus Ventures, Serena and others also participated in the round. The company, which launched in 2014, has raised $31 million to date.
Bestmile has developed fleet management software that orchestrates the delicate balance between demand for, and supply of transportation. Managing fleets isn’t new. However, the emergence of new and varied ways for people and packages to move within cities has created new opportunities for software companies.
Bestmile is aiming to become the preferred platform for public transit operators, automakers and taxi companies that offer ride-hailing, microtransit, autonomous shuttle services and even robotaxis. While Bestmile emphasizes the ability of the platform to manage more futuristic means of travel, namely autonomous shuttles, fleet management software is designed to be agnostic. This means it will work for human-driven fleets like traditional taxi cabs as well as autonomous shuttles and, someday, robotaxis.
The startup’s investors also see opportunities for the platform that extend beyond microtransit, ride-hailing and autonomous shuttles. For instance, Airbus Ventures sees Bestmile as a key enabler for urban air mobility, according to Thomas d’Halluin, a managing partner at the Airbus’ venture arm.
The platform works by collecting real-time data such as weather, traffic, demand and vehicle telemetry. It then uses the data to squeeze the most out of the fleet. That means balancing demand from customers with the cost of operations.
The startup, which is based in Lausanne, Switzerland and has an office in San Francisco, already has a number of customers, including autonomous shuttle operators. The company’s software is managing 15 deployments globally. Bestmile announced earlier this week that it has partnered with Beep, an autonomous shuttle company in Orlando, Fla.
Blue Lagoon partners Rodney Rogers and Kevin Reid have joined Bestmile’s board. Rogers is now board chairman. The pair, which have first-hand experience as co-founders, should be able to provide the kind of insight needed to scale a company. Rogers and Reid co-founded enterprise cloud services company Virtustream, which was acquired by EMC Corporation in 2015 for $1.2 billion. The business is now part of Dell Technologies.
Powered by WPeMatico
Skymind, a Y Combinator-incubated AI platform that aims to make deep learning more accessible to enterprises, today announced that it has raised an $11.5 million Series A round led by TransLink Capital, with participation from ServiceNow, Sumitomo’s Presidio Ventures, UpHonest Capital and GovTech Fund. Early investors Y Combinator, Tencent, Mandra Capital, Hemi Ventures, and GMO Ventures, also joined the round/ With this, the company has now raised a total of $17.9 million in funding.
The inclusion of TransLink Capital gives a hint as to how the company is planning to use the funding. One of TransLink’s specialties is helping entrepreneurs develop customers in Asia. Skymind believes that it has a major opportunity in that market, so having TransLink lead this round makes a lot of sense. Skymind also plans to use the round to build out its team in North America and fuel customer acquisition there.
“TransLink is the perfect lead for this round, because they know how to make connections between North America and Asia,” Skymind CEO Chris Nicholson told me. “That’s where the most growth is globally, and there are a lot of potential synergies. We’re also really excited to have strategic investors like ServiceNow and Sumitomo’s Presidio Ventures backing us for the first time. We’re already collaborating with ServiceNow, and Skymind software will be part of some powerful new technologies they roll out.”

It’s no secret that enterprises know that they have to adapt AI in some form but are struggling with figuring out how to do so. Skymind’s tools, including its core SKIL framework, allow data scientists to create workflows that take them from ingesting the data to cleaning it up, training their models and putting them into production. The promise here is that Skymind’s tools eliminate the gap that often exists between the data scientists and IT.
“The two big opportunities with AI are better customer experiences and more efficiency, and both are based on making smarter decisions about data, which is what AI does,” said Nicholson. “The main types of data that matter to enterprises are text and time series data (think web logs or payments). So we see a lot of demand for natural-language processing and for predictions around streams of data, like logs.”
Current Skymind customers include the likes of ServiceNow and telco company Orange, while some of its technology partners that integrate its services into their portfolio include Cisco and SoftBank .
It’s worth noting that Skymind is also the company behind Deeplearning4j, one of the most popular open-source AI tools for Java. The company is also a major contributor to the Python-based Keras deep learning framework.
Powered by WPeMatico
Deploying an OpenStack cloud is still anything but easy. Solinea helps enterprises design and deploy their private clouds, both as a consulting firm and as a technology provider. The company today announced that it has raised a $4 million Series A round led by Translink Capital, with participation from its angel investors.
TransLink Capital has strong ties to Asia and a background in… Read More
Powered by WPeMatico