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Shift Technology raises $220M at a $1B+ valuation to fight insurance fraud with AI

While incumbent insurance providers continue to get disrupted by startups like Lemonade, Alan, Clearcover, Pie and many others applying tech to rethink how to build a business around helping people and companies mitigate against risks with some financial security, one issue that has not disappeared is fraud. Today, a startup out of France is announcing some funding for AI technology that it has built for all insurance providers, old...

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Cymulate nabs $45M to test and improve cybersecurity defenses via attack simulations

With cybercrime on course to be a $6 trillion problem this year, organizations are throwing ever more resources at the issue to avoid being a target. Now, a startup that’s built a platform to help them stress-test the investments that they have made into their security IT is announcing some funding on the back of strong demand from the market for its tools. Cymulate, which lets organizations and their partners run machine-based...

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5G for industry – coal miners could ‘wear suits and ties at work’, says Huawei chief

Huawei in February opened the Intelligent Mining Innovation Lab in Shanxi province Huawei CEO Ren Zhengfei, speaking at the opening of the company’s Intelligent Mining Innovation Lab in China’s Shanxi province, discussed how the “main goal” of 5G is enabling the digital transformation of vertical industries, including transportation hubs, ports, mines and manufacturing. The point of facilities such as the Intelligent Mining...

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Starboard Value puts Box on notice that it’s looking to take over board

Activist investor Starboard Value is clearly fed up with Box and it let the cloud content management know it in no uncertain terms in a letter published yesterday. The firm, which bought a 7.7% stake in Box two years ago claims the company is underperforming, executing poorly and making bad business decisions — and it wants to inject the board of directors with new blood. While they couched the letter in mostly polite language,...