NVTC Newsletter No. 6
Happy Wednesday, and welcome to the NVTC weekly newsletter! Here you’ll find recent updates from the tech world, insightful articles related to startups and highlights from NV portfolio companies.
THIS WEEK’S FEATURES ⚡
⭐ Papa Roach – Remote-controlled bugs.
⭐ Google’s New Groove – An AI-powered medical suite.
⭐ Deal or No Deal – The story with Q3 startup investments and Musk drama.
⭐ So Mushroom for Growth – Psilocybin-fueled therapy.
📈 Trending – A wholesome video of Nobel Prize winner Svante Pääbo.
NV PORTFOLIO HIGHLIGHT 🎢
MedTruly operates in “semi-stealth” and is a hybrid care company focused on polychronic seniors. More simply, they provide in-person and virtual care to seniors who have more than one chronic condition, like heart disease and diabetes. Focusing on integrated primary care and preventative care has the dual effect of preventing hospitalizations and limiting re-admissions.
MedTruly continues to expand its care options and is always investigating new ways to save patients valuable time and effort. Its dedication to the patient experience shows: MedTruly reduces hospitalization by 30% and provides patients 2x more time with their doctors.
NEWS & ARTICLES 📖
Don’t worry – this one won’t be living in your home. Scientists in Japan are creating a “Robobug.” Using remote-controlled technology, these mini robot bugs will be able to complete search-and-rescue missions in the aftermath of natural disasters, such as earthquakes. A major research question is how to recharge the tiny batteries given the small surface area of the critters.
Baggy clothing isn’t the only trend of 2022. Crunchbase data revealed that startup investment in Q3 totaled less than half last year’s levels. The venture funding pullback we’ve witnessed so far this year is only intensifying. This decline was most pronounced for late-stage ventures, but intense drops are still visible at early and seed stages.
A cobalt mine in Idaho, originally shuttered in 1982 amidst environmental concerns, was just reopened. This came after pull from experts that predict cobalt will play a crucial role in electrification. Safeguards have been put in place for cleanup and environmental protection. Before the Idaho mine, all cobalt came from the Democratic Republic of Congo, where there are widespread child labor and human rights problems.
There’s no better reality show than the Elon Musk/Twitter debacle. The storyline goes like this: Musk offered to buy Twitter at a $44 billion valuation. Musk backed out of the deal, claiming Twitter withheld information. Twitter sued Musk. Musk decided he’ll go through with the deal. Who knew it would be Twitter that successfully backed Elon Musk into a corner?
What makes Clerkenwell Health so different from other clinical research organizations? The short answer: psychedelics. Thanks to their raise during a £2.1M seed round, Clerkenwell is kicking off its first trials for psilocybin-assisted psychotherapy. While most research is happening in hospitals or universities and thereby swayed by drug developers, Clerkenwell plans to work with multiple drug developers.
Last Tuesday, Google announced its new Medical Imaging Suite. This is tremendous for health care providers searching for AI solutions to diagnostic imaging. The comprehensive suite provides a platform for AI developers while also promoting image exchange. Some functionality includes a Cloud Healthcare API, AI-assisted annotation tools, and advanced data analytics tools.
TWITTER HIGHLIGHT 📈
This past week we’ve seen countless press releases for the 2022 Nobel Prize winners. It’s hard to imagine what winning such a momentous award would feel like, especially after years and years of dedication to one’s research, but here’s an adorable video of Svante Pääbo on his first day back at work:
Pääbo received the Nobel Prize in Physiology or Medicine, announced last Monday. Pääbo pioneered the field of ancient DNA studies, and he won for his work in retrieving genetic material from 40,000-year-old bones and producing a complete Neanderthal genome.
Here is a NY Times article outlining all the winners.
OUTRO
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