SBI-Backed Japan Robo-Adviser Folio Targets Swing to Profit, IPO
Japanese robo-adviser Folio Holdings Co. is looking to go public as the SBI Holdings Inc.-backed startup zeros in on profitability in a market primed for expansion, Chief Executive Officer Shinichiro Kai said in an interview.
Kai told Bloomberg he expects the Tokyo-based firm to become profitable and launch an initial public offering 'in the not-so-distant future.' Japan's robo-adviser market, estimated to be worth around ¥3 trillion ($19.8 billion), has massive room for growth, he added.
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Business Insider
an hour ago
- Business Insider
Grab your cooler, pack the car: The road trip calls this summer as gas prices fall and economic fears linger
Country roads, take me to vacation. The open road is a preferable getaway this summer for Americans who discovered a love for road trips during the pandemic, are feeling economic uncertainty, or want to take advantage of tumbling gas prices. Road trips also offer a degree of certainty — you won't find yourself abroad as tariffs or border policies change, or the latest flight chaos strikes. James Willamor, 45, is setting out on a 4,500-mile road trip to kick off summer. It's become a passion for him; he estimates he spends between 30 and 40 nights a year camping on both short and long trips. Depending on the length of the trip and gas prices, he spends an estimated $500 to $800 on gas, and he tries to optimize by always using a points credit card and other gas rewards programs. He also plans out meals where he can and carries a small portable refrigerator filled with meats, cheeses, fruits, and vegetables. His favorite part of hitting the road is watching the landscape gradually change, going from rivers to rolling hills to mountains. "It's a lot different than in times when I've flown somewhere and you get on the plane and you get off and you're in a totally different biome," he said. "But spending three or four days driving across and seeing the gradual change is probably my favorite part." Cheaper gas and more driving this summer Already, record numbers of Americans hit the road for the first big vacation weekend of the year, per AAA. It projected that over 1 million more Americans would be traveling by car Memorial Day Weekend compared to last year — an increase from 38.2 million auto travelers in 2024 to 39.4 million this year. The urge to stay domestic seems like it'll continue through the Fourth of July: Airbnb said that bookings within 300 miles of vacationers' origin spots are up 32% over the Fourth of July weekend compared to 2024. Enterprise Mobility, whose brands include Enterprise Rent-A-Car, National Car Rental, and Alamo, told BI that the company is seeing a year-over-year increase in expected leisure travel from their non-airport locations in both June and July — what Enterprise deemed a signal of customers leaning into road trips this summer. "People are continuing to prioritize travel, and our research shows an increased interest in road trips this summer," Bridget Long, senior vice president of North American operations at Enterprise Mobility, said in a statement. At the same time, gas prices have come down from 2022-era highs, making it more affordable to hit the road. Lillian Rafson, CEO of travel agency Pack Up + Go, which plans US-based surprise vacations — where destinations are unknown and travelers give an overview of what they're interested in — said that the last few months have seen a surge of interest in road trip packages, compared to last year. Already, 47% of vacations booked through the agency in June were road trips, compared to 27% last year. Rafson said that during times of perceived economic uncertainty, more travelers opt for her firm's minimum budget bookings rather than their more expensive offerings. She said that during last November's election season, minimum-cost bookings surged; that happened yet again in April and May. "Anecdotally, our team mentioned that we've had a few trips cancelled due to layoffs or fear of layoffs, but not a statistically significant number," Rafson said. "Overall, I think people are quietly opting for a lower-budget road trip instead of a major summer trip. But they're still traveling! Just slightly differently." Saying no to flying For some, flying might not be worth it right now, given recent stories of safety and timing concerns. "Right now, I live very close to Newark Airport, and the craziest delays are happening with the air traffic control and stuff — I mean, that alone is making people iffy about traveling," Dan Pieraccini, an avid domestic traveler and road tripper based in New Jersey, said. Some travelers are opting for road trips just because they want to; Scott Reing, 37, is planning a 2,500-mile-long road trip for his family to the Grand Canyon to commemorate his wedding anniversary. His family alternates between bigger vacations abroad and domestic trips to national parks. This year happened to be a national parks year. In theory, he said, some of the appeal of the domestic trip this time around is price, although the cost will still be hefty with the amount of time they're spending on the road. "You kind of have more control over what you're spending when you're doing a road trip versus going to an all-inclusive or going on a cruise or flying abroad," Reing said. "You really have the choice to stay in a motel or a campsite one night or two nights or 10 nights versus something else." Even so, Reing said he isn't broadly rethinking travel or travel spending; next year, he could end up somewhere abroad, like Japan. Indeed, many Americans are still opting for European or international travel this summer, with some powering through uncertainties and deciding it's worth it. But the road is still calling. Cathy Keibler, a 65-year-old retiree in Indiana, is eagerly planning her first major road trip across the country. She wants to see the country, but has no desire to fly anymore. She and her husband have a new Prius, so they're not too concerned about gas expenses and are planning to bring a cooler to mitigate food costs. Keibler also wants to get a closer view of what's happening in her own country; with unrest and uncertainty, a road trip offers an opportunity to see firsthand how that's reflected in different corners of the nation. "Part of the more idealistic reason for making this road trip is to maybe try to get in touch a little bit with really what's happening out there in the country in a way that we can't really do when we're just driving on the interstates and maybe pulling over at a McDonald's," she said.
Axios
3 hours ago
- Axios
Exclusive: Autonomize AI gets $28M for health agents
Autonomize AI, a provider of AI agents to health systems and plans, raised $28 million in Series A funding, CEO Ganesh Padmanabhan tells Axios exclusively. The big picture: It's the latest sign of investor appetite for infrastructure-layer AI in health care — especially platforms that promise scale, compliance, and a clear ROI. Follow the money: Autonomize plans to expand deployment of its "Copilot" AI agents across payers, providers, and life sciences organizations. Valtruis, Cigna Ventures, and Tau Ventures led the round, joined by previous investors Asset Management Ventures, ATX Venture Partners, and Capital Factory. The Series A provides 24-month runway, though the company could raise before then, Padmanabhan says. How it works: Austin-based Autonomize's agentic AI platform stitches together pre-trained agents for tasks like benefits verification, care planning, and chart review. The company uses a human-in-the-loop model and offers explainability and compliance features — two key factors for success in health care. Most of its customers are payors, followed by value-based care providers and syndicated health plans. Between the lines: Autonomize was built specifically for the highly regulated business of health care, per Padmanabhan. "I've met nurses who have a 400-page binder on their desk that they still refer to before making adjudication decisions within health plans," says Padmanabhan. "There's no way an AI agent is going to find that because that data, that knowledge, is not digitized." What they're saying: "The way the technology is configured is, you set up an agent for a particular use case and it's reusable for others," says Valtruis managing director Mike Spadafore. "A lot of these workflows are made up of 15, 20 different steps that you assemble into different workflows," Spadafore adds, noting Autonomize's repeatability was attractive. "A complex workflow, like care management or like prior authorization, is actually multiple sub workflows," Padmanabhan says. A benefit check is one example —where users are looking at patient information across multiple documents. Reality check: The market is flooded with "AI for health care" startups, but most are still struggling to show meaningful, repeatable results.
Axios
3 hours ago
- Axios
Exclusive: Guardz locks up $56M Series B for cybersecurity
Guardz raised a $56 million Series B led by ClearSky to help managed service providers (MSPs) better secure small and medium-sized businesses, co-founder and CEO Dor Eisner tells Axios Pro. Why it matters: MSPs struggle with the proliferation of security tools as SMBs face even more attacks. How it works: Guardz's detection and response platform is designed to streamline MSPs' active protection of small businesses' digital assets into a single engine using both AI agents and human expertise. Zoom in: The round also included new investor Phoenix Financial and existing investors Glilot Capital Partners, SentinelOne, Hanaco Ventures, iAngels, GKFF Ventures, and Lumir Ventures. Catch up quick: The new round brings Miami-based Guardz's total funding to $84 million in just more than two years. What they're saying:"What we are seeing is a shift in how bad guys attack," Eisner said. "It used to be they would just attack big companies. Now they are selling attack-as-a-service so other people can use these tools against small businesses."
