Tag: million

Back Market raises $120 million to grow refurbished gadget market

Back Market has raised a $120 million round of venture capital as it seeks to dramatically expand the market for refurbished consumer electronics. The investment round included Goldman Sachs, Aglaé Ventures, Eurazeo Growth, and Daphni and follows rounds of $48 million in 2018 and $7 million in 2017.

The Paris-based startup has created a marketplace to connect companies that restore used gadgets with consumers through a one-stop shopping experience, complete with warranties and customer service. While the company has seen meteoric growth, particularly since its expansion to the U.S., overall sales of used gadgets remain small compared to those of brand-new devices.

Cofounder and CEO Thibaud Hug de Larauze said the company’s long-term goal is to make refurbished devices the majority of consumer purchases. This feeds into its ambition of promoting the circular economy and reducing the tech industry’s impact on the environment.

“We are a mission-driven company,” said Hug

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Pixar’s computer graphics pioneers have won the $1 million Turing Award

Two men who invented game-changing 3D computer graphics techniques now widely used in the film industry have won the highest distinction in computer science: the Turing Award. If you enjoyed Toy Story, The Lord of the Rings, Finding Nemo, Titanic, Avatar, or Jurassic Park, you have them to thank.

Who are they? Edwin Catmull and Patrick Hanrahan. Catmull cofounded Pixar and hired biophysics PhD Hanrahan as one of the first employees in 1986. Hanrahan spent much of his time modeling materials and lighting to help animations look closer to real life. “Physicists generally don’t study hair or skin, and why they look the way they do. I did, and spent years thinking about how to get things like lighting right,” he told MIT Technology Review.

Their work: Hanrahan was the lead architect of the team that created the complex software known as RenderMan, which

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Paige raises $5 million more from Goldman Sachs to detect cancer with computer vision

Health care startup Paige has raised an additional $5 million to help diagnose cancer using computer vision trained with clinical imaging data. The idea is to use data sets related to treatment and genomics to train the company’s deep learning networks to detect breast, prostate, and other major cancers.

New York-based Paige has raised over $75 million to date. The money came from Goldman Sachs Merchant Banking Division, and it means the company has now raised $50 million for its series B round, which was originally disclosed in December.

Paige will use the new capital to develop the company’s diagnostic and test products for the biopharma industry while strengthening its position in clinical AI for pathologists. It is also developing the Paige platform for remote viewing and routine clinical practice.

The company said it has added David Castelblanco, managing director at Goldman Sachs, to its board. Paige CEO Leo Grady

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