Economy

Aktia Group announces the launch of a $54 million corporate venture capital fund

Published

3 months ago

July 12, 2023

Nadia Barnett

Aktia Group announces the launch of a $54 million corporate venture capital fund

Agthia Group PJSC, an Emirati company active in the food and beverage sector in the region, has announced the launch of Agthia Ventures, a corporate venture capital fund. The fund will be co-managed by Touchdown VenturesTouchdown Ventures.

The fund aims to expand the Group’s capabilities, create mutual value with growing companies and increase profitability in current and future markets and ensure continued securing of resources for growth.

Funds will review proposed investment proposals regardless of their status, as investment will be primarily in companies that achieve significant growth in revenue. According to the report of the Committee-

Press release

Agthia Group PJSC, a leading company in the food and beverage industry in the region, announced the launch of a corporate venture capital fund, “Agthia Ventures”, which aims to innovate the Group’s capabilities, create and ensure mutual value with emerging companies. It continuously secures resources for growth and optimizes profitability in current and future markets.

The fund will be co-managed by Touchdown Ventures-Touchdown Ventures”It is a global leader in establishing and implementing venture capital fund programs for large companies, with more than 100 investment projects completed so far and funded by Aktia Group and “Holding”.(ADQ)It is an investment company based in the Emirate of Abu Dhabi.

The fund, which relies on Aktia’s four decades of experience, will contribute to the establishment of a program to help the best entrepreneurs in the food sector to expand their operations, accelerate the development of their products and their adoption. Markets, exchange of experiences, diversification of various distribution networks and development of infrastructure, strengthening technological infrastructure, research and development capabilities, improving marketing areas and building solid relationships with customers Touchdown Ventures Leverage its extensive startup networks and numerous relationships in the venture capital sector, incubators and accelerators to identify attractive investment opportunities in the early stages of establishment and growth, providing Aktia Group with unique investment opportunities. Markets it aims to enter..

In line with Agthia Group’s strategies to develop markets and products, the fund will review the proposed investment projects regardless of their status, as investment will be mainly in companies that achieve significant growth in revenue. Investments will focus on brands, product categories and solutions that enhance the Group’s portfolio and drive performance. For example, the focus will be on brands operating in the snack food industry and generic startups in the ingredient technology industry. Target investments include companies contributing to the growth of the foods and beverages sector, water with functional properties and various benefits in addition to its role in hydration, alternative proteins and supplements, sustainable solutions in agriculture and packaging. Business Solutions for the Food & Beverage Industry and Capability Development Sectors with Linkage to Aktia Group’s Value Chain.

Speaking on the occasion, Alan Smith, Chief Executive Officer, Aktia Group said: “Innovation is one of the fundamental and important components of the Aktia Group. Middle East and North Africa region and beyond by 2025. The institutional investment money combined with internal research and development efforts within the group will enable future growth to be enhanced by access to advanced technologies and access to the latest market insights from various entrepreneurs. , and to enhance our ability to meet the needs of our customers across multiple sectors, and to support entrepreneurs in achieving success, Aktia leverages its extensive experience in products, markets and distribution..”

For his part, said company president and co-founder Scott Linnett Ventures Touchdown:We believe that entrepreneurs around the world will be positively impacted by the culture of collaboration and support that Aktia Group follows. Whether leveraging the group’s strong distribution network in the Middle East and North Africa region or collaborating to benefit from its expertise in the North American and European markets, the Agthia Group has much to offer innovative food and beverage entrepreneurs..

Nadia Barnett

“Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator.”

Economy

4 new AI tools you can use to edit photos on Instagram

Published

7 hours ago

September 30, 2023

Nadia Barnett

4 new AI tools you can use to edit photos on Instagram

As part of Meta’s Connect conference last Wednesday, Mark Zuckerberg revealed several creative AI features that will be useful for some content creators and influencers. For example, users will be able to use Meta’s AI technology, revealed as Emu. In the Instagram app.

Zuckerberg said Meta will begin rolling out these photo-editing and generative AI tools to Instagram “in about a month,” and Meta’s Emu technology will take seconds to generate images, Zuckerberg said during the Connect conference.

In addition to photo editing tools, Meta is already releasing AI stickers that use Emu and Llama 2 technology, and advanced applications of AI will soon appear in Meta apps in the form of chatbots or AI-powered assistants. Meta will begin testing the beta feature immediately.

Here’s a full rundown of the new AI features Meta brings to Instagram:

– New photo editing tools in the Instagram app:

Like many apps and generative AI filters that are ubiquitous on TikTok, Instagram is adopting its own generative AI tools. Users can also edit photos by “re-styling”, which changes the artistic style of the photo, similar to altering the photo. A watercolor, or “background,” that allows users to replace the background of the image with an illustration.

Any image edited using these tools “represents the use of artificial intelligence,” Mitta wrote in a blog post.

– AI-generated stickers for use in direct messages:

Instead of sticking with Instagram’s existing preloaded stickers or emojis, Meta is rolling out a new tool that lets users create unique stickers using AI. Meta wrote in his blog post that the feature will be rolling out to “select English users next month.”

AI stickers are also available in Instagram features like Live Messages and Stories, and other apps like WhatsApp, Messenger and Facebook’s Stories feature.

– Interactive AI bots – or characters:

In addition to its general AI assistant called “Meta AI,” Meta is working with celebrities and influencers to develop 28 AI chatbots. The first cast uses celebrities and popular influencers like Tom Brady and Kendall Jenner. MrBeast, LaurDIY, and Charli D. Amelio and the AI characters will have their own profiles on Instagram and Facebook.

– Creators will be able to build their own robots in the future:

“We’re building a platform to build AI that can help you do things or have fun,” Zuckerberg said. “The way it works is that people can interact with these AI systems across the entire product universe. .”

Zuckerberg pitched these AI bots as a potential way for creators to “engage” with their communities. The creator of these bots should be “authorized” and “directly controlled,” Meta wrote in a blog post. Already, many startups have released AI tools. Similar applications allow creators to create AI versions such as Afterparty or Render Media.

Nadia Barnett

“Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator.”

Economy

Inflation in the euro zone fell to its lowest level in a year

Published

15 hours ago

September 30, 2023

Nadia Barnett

Inflation in the euro zone fell to its lowest level in a year

Economic data released today on Friday showed that the euro zone’s core inflation rate fell to its lowest level in nearly a year this month, bolstering expectations that the European Central Bank will keep interest rates on hold at its next meeting to assess. The consequences of an unprecedented campaign to raise interest rates throughout the past.

European statistics agency Eurostat reported today that sales, excluding highly volatile items such as food and energy, fell to 4.5% this September, while analysts polled by Bloomberg News had expected a drop of 4.8%, compared with 5.3%. In the month, in the past.

At the same time, the headline inflation rate eased to 4.3% this month from 5.2% last August, the lowest level in nearly two years and well below expectations, thanks to a fall in energy prices. Accelerating rate of rise in prices of services.

The data released today is a strong indication that core inflation, a key measure for the central bank’s monetary policymakers, is on a downward path following a period of statistical deterioration over the summer months.

Despite the decline, general and core inflation rates have been more than twice the central bank’s target of 2% annually.

At the same time, there is a wide disparity in inflation rates between the euro zone’s twenty member states, with the inflation rate in Germany falling to its lowest level in two years this month, while the rate in Spain rose by more than 3. % again.

The current September consumer price inflation rate showed a new decline, reaching its lowest level in more than a year and a half, with the Italian statistics office saying the inflation rate fell to 5.3 for the current month. % y/y compared to 5.4% last month, while the core inflation rate, excluding highly volatile food and energy prices, fell to 4.6% this month, down from 4.8% last month.

Nadia Barnett

“Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator.”

Economy

Meta unveils new artificial intelligence products

Published

23 hours ago

September 29, 2023

Nadia Barnett

Meta unveils new artificial intelligence products

Mark Zuckerberg, CEO of MetaPlatforms, has introduced a group of new products powered by artificial intelligence, including smart glasses that can answer questions and broadcast live on Facebook, as well as “bot” programs to create images and an advanced headset for virtual reality. .

Zuckerberg described the products as bridging the virtual and real worlds, and asserted that low-cost or free artificial intelligence in what Meta offered could be integrated into daily routines.

The MetaQuest virtual reality headset is one of the most popular in the burgeoning virtual reality industry, and company executives described it as the best value in the industry, marking the imminent launch of an expensive headset from Apple.

Speaking from the central courtyard at Meta’s sprawling campus in Silicon Valley, Zuckerberg said Meta’s new generation of Ray-Ban smart glasses will launch on October 17 for $299.

The device will have a new assistant from Meta that works with artificial intelligence and will be able to live-stream what the user sees on Facebook and Instagram, a feat compared to the previous generation’s ability to take pictures.

Earlier during the presentation, Zuckerberg said that the latest mixed reality headset (Quest) will start rolling out on October 10.

Zuckerberg’s statements came at the MetaConnect conference, the social media company’s biggest event of the year and the first to be held in person since the start of the Covid pandemic.

It launched the first consumer-oriented generative artificial intelligence products, in which a chatbot (meta AI chatbot) can generate text responses and realistic images.

Zuckerberg emphasized: “It’s not just about answering inquiries. It’s about helping people do things for entertainment and interacting with the people around you.”