Latest news with #RREVentures
Yahoo
21-05-2025
- Business
- Yahoo
True Markets Raises $11M in Series A, Launches Mobile-First DeFi Trading App on Solana
True Markets, a new decentralized finance (DeFi) trading platform focused on stablecoin-native execution, has launched its mobile app on Solana and closed an $11 million Series A, bringing total funding to $20 million, the company said in a press release Tuesday. The funding round was co-led by Accomplice and RRE Ventures, with participation from Reciprocal Ventures, Variant Fund, and PayPal Ventures. Seed investors Paxos Ventures and the Solana Foundation, continue to support the firm, True Markets said. Founded by Coinbase (COIN) and Circle veterans Vishal Gupta and Patrick McCreary, True Markets aims to deliver a non-custodial, mobile-first DeFi trading experience for retail users, prioritizing speed, simplicity, and transparency. The app enables stablecoin-powered token trading on Solana, with gasless execution, smart order routing, and embedded key management via Turnkey, all without users surrendering custody of funds, True Markets said. 'Retail traders have been stuck with clunky workflows, unclear pricing, and fragmented liquidity," said Vishal Gupta, CEO of True Markets, in the release. "Our goal is to deliver a fairer and more transparent experience that makes asset discovery simple, shows real-time market momentum, and feels as intuitive as the best apps on your phone," Gupta added. Backed by infrastructure partners Turnkey and Definitive, the app features real-time market sparklines, automated execution across decentralized venues, and hosted wallets that support immediate funding and trading within a non-custodial framework. True Markets said it plans to expand into both CeFi and DeFi markets, with future integrations including TrueX, a centralized exchange designed for institutional liquidity and qualified custody. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Sign in to access your portfolio
Technical.ly
06-05-2025
- Business
- Technical.ly
Lovelace AI, former Google exec's startup, lands a seed round to scale crisis-ready tech
A Pittsburgh startup is betting AI can help save lives in war zones and disaster sites — and it just landed a major investment to try and prove it. Lovelace AI, a Bakery Square-based company specializing in using AI to synthesize data for high-risk decisions, announced today it had closed a seed round led by New York firm RRE Ventures. The investment is a meaningful milestone in the company's journey, said founder Andrew Moore, the former general manager of Google Cloud AI and former dean of the School of Computer Science at Carnegie Mellon University, in a prepared statement. 'Can AI combined with careful mathematical statistics make sense of hopelessly complex situations quickly and accurately enough to keep humans safe?' Moore said. 'That's what the Lovelace team has been relentlessly working on, and with this new RRE partnership, we will be able to significantly accelerate.' The funds will be used to fuel product development, talent acquisition and deployment of Lovelace AI's core technology across both defense and commercial applications, according to the recent release. Lovelace AI did not disclose how much it raised. Moore founded the 2024 RealLIST Startup with the mission of using cutting-edge artificial intelligence and systems engineering to enhance human safety, particularly in high-risk situations like armed conflict, disaster response, counterterrorism and defense against hostile AI systems designed to target civilians. 'Lovelace AI is … solving one of the most fundamental bottlenecks in modern computing: the ability to synthesize data across environments at operational speed,' said Will Porteous, general partner and COO at RRE Ventures, in a prepared statement. RRE Ventures is an early-stage investor in tech-enabled companies across a range of industries, with a portfolio that includes well-known names like BuzzFeed, Venmo and Business Insider. Lovelace AI did not immediately respond to request for comment. Early Pittsburgh Googlers branch out on their own VCs are gravitating toward AI investments in Pittsburgh, pouring hundreds of millions into local companies. Lovelace AI's latest news shows it's reaping the benefits of that, too. The company emerged from stealth mode in 2023 and has already made big strides in the Pittsburgh tech scene. In October, it was recognized as one of the local startups that will get access to Nvidia tech for product development as a part of the 'Nvidia AI Tech Community.' Plus, it's known as one of the high-potential companies that make up 'AI Avenue' in Bakery Square. Moore has been a staple in the region for decades. In 2006, he led Google's first Pittsburgh office. Some Googlers followed Moore to Lovelace AI, like Cofounder and Head of Engineering Toby Smith, Director of Operations Matthew Houy and several engineers. While Moore has previously acknowledged the harms that could come from the mistreatment of AI, his ambitious vision for Lovelace AI sees it as a tool that could ultimately help humanity, he said. 'We've kind of got ourselves into a corner with a bunch of really serious problems and we need every tool that we actually can to help us get out of it,' Moore said at an event last year, 'and I see thoughtful use of massive automation as something which is a tool on the plus side of healthcare problems.'
