CB Insights - Elon Musk, mind reader

Hola, 

ICYMI, we opened up applications for this year's Digital Health 150. Fill out the application here before August 3.

Now on to today’s update. 

Are we just scratching the surface of AI’s potential? 

In a study published this week, researchers were able to turn a paralyzed patient’s brain signals into text using machine learning. Though only a proof of concept, the tech has fueled aspirations of restoring speech to those who’ve lost it. 

Tech companies are making moves in the space as well. For example, Elon Musk announced in April that Neuralink’s first product would enable paralyzed individuals to operate smartphones “with their mind faster than someone using thumbs.” Facebook and Amazon also are known to be experimenting with AI-powered tools to translate everything from human neural signals to dog barks.

Less well-known companies like Paradromics are focused on developing “brain-computer interface tech” that can assist people with conditions like paralysis or blindness better navigate and interact with the world around them.

Investment in healthcare AI cos hit a new record in Q2’21, as interest in the space continues to grow.

In the coming weeks, we’ll be digging deeper into AI trends, so stay tuned for more.

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Amid another record quarter for global healthcare investment, Q2’21 minted 11 new healthcare unicorns ($1B+ private companies).

Download our free State Of Healthcare Q2’21 report to see the top deals in the quarter, funding trends by sector, and data on the digital health SPAC frenzy.

Check it out here.

Feeling the chemistry

DuPont has long dominated the chemicals market. But factors like emerging China-based players, sustainability regulations, and chemical R&D are putting pressure on the giant. 

We analyze how startups and companies are unbundling the chemicals industry in this report. 

Blockchain > legacy tech in capital markets 

Blockchain is coming after traditional capital markets processes.

Blockdata speaks with some of the disruptors and highlights recent moves by enterprises in the space here. 

2023: Self-driving tech developer Aurora announced plans to go public via SPAC at an equity value of $11B. The firm does not expect to launch a commercial product until late 2023. So far in 2021, the number of SPAC mergers has already more than doubled last year’s total. Catch up on the ins and outs of the financial maneuver here.

3B installs: TikTok has been downloaded over 3B times, according to Sensor Tower, making it the fifth non-game app to surpass that mark, after Facebook, Instagram, Messenger, and Whatsapp (all Facebook-owned apps). First-time installs of TikTok grew 16% QoQ in Q2’21 to reach 205M. Read up on how ByteDance, TikTok’s parent company, has leveraged virality to become the world’s most valuable unicorn here.

89%: Prime Medicine announced $315M in funding at a $1.2B valuation. The company is developing a gene editing method called “prime editing,” which seeks to improve on existing CRISPR editing technology by avoiding breaking strands of DNA. Prime editing could eventually resolve up to 89% of genetic variants associated with diseases, per a Nature study. Explore the key applications and limitations of CRISPR here.

85%: Apple is reportedly partnering with Goldman Sachs (as its underwriter) to develop Apple Pay Later, a buy now, pay later feature that would allow users to pay in installments when making purchases using Apple Pay. Apple Pay is currently accepted at 85% of US retailers, according to the company. We break down the latest financial services moves from Apple and other tech giants here.

$1.56M: A copy of Nintendo’s Super Mario 64 in near-perfect condition sold for $1.56M, nearly doubling the previous record for a sale of a video game, which had been set just 2 days prior. Released in 1996, Super Mario 64 was the first game to allow players to control Mario in 3D.

After a year without air travel, some returning fliers are rejoicing over the spicy little cookies served as treats on flights. 

“I was like, this is the best moment of my life,” said passenger Caroline Matlock about receiving Biscoffs on a United flight this year. 

Known as “speculoos” in parts of Europe, Biscoffs first appeared on Delta flights in the 1980s. The airline now hands out over 80M of them each year. 

Marcelo