Microsoft Mesh for AR/VR Meetings: The Daily Crunch

Tech News Roundup: March 2, 2021

Recent developments include Microsoft’s unveiling of a new AR/VR meeting platform, the spin-off of Uber’s robotics division, and Compass’s filing for an initial public offering. This summarizes the key updates from the tech world for March 2, 2021.

Microsoft's New AR/VR Platform: Mesh

Microsoft has introduced Mesh, a platform designed to facilitate collaborative meetings utilizing both augmented reality via the HoloLens and virtual reality through Windows Mixed Reality. While described as relatively conventional in the realm of spatial computing, it will also function as a development platform for creating custom applications.

This announcement represents only a portion of the numerous updates presented by Microsoft during its virtual Ignite conference. Updates to Teams with enhanced presentation capabilities, a new open-source, low-code programming language, and the launch of Azure Managed Instance for Apache Cassandra – a new NoSQL database offering – were also revealed. Furthermore, Microsoft announced Azure Precept, a combined hardware and software platform.

Updates from Tech Industry Giants

Uber’s robotics division, formerly known as Postmates X, has been established as an independent entity named Serve Robotics, specializing in delivery robots.

Amazon has issued a rare apology in India concerning its drama series, “Tandav,” which drew criticism for its portrayal of Hindu deities.

Apple has released the findings of a study focused on hearing health, reflecting the company’s increasing interest in this area, particularly given its expanding headphone product line.

Startups, Funding, and Venture Capital Activity

Compass has submitted its S-1 filing, disclosing revenues of $3.7 billion alongside a net loss of $270 million. Despite not currently being profitable, the company has experienced substantial revenue growth in recent years.

Vestiaire Collective secured $216 million in funding for its second-hand fashion platform. The platform addresses the challenges inherent in the resale market, such as ensuring product authenticity and condition.

Instacart raised $265 million, achieving a valuation of $39 billion. This significant increase in valuation is largely attributed to the surge in demand driven by the pandemic.

Insights from Extra Crunch

JotForm’s Aytekin Tank proposes that bootstrapping offers a more sensible and sustainable approach to building and scaling a business, presenting six tips for SaaS founders who prefer to avoid venture capital.

The IPO market remains active, with Oscar Health setting its IPO price and Coupang debuting with a strong valuation, attracting investor attention.

Kaltura has filed for an IPO, supported by accelerating revenue growth and increasing losses. The company’s revenue has consistently grown since 2018, reaching a new peak in the final quarter of 2020.

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Additional News

Researchers at MIT have developed insect-sized drones engineered to withstand collisions, addressing the fragility inherent in such small devices.

Volvo has announced its intention to exclusively sell all-electric vehicles by 2030, marking a significant shift in the automaker’s strategy, including a move towards online sales.

TechCrunch will host a free virtual meetup in Miami on March 11, offering a virtual experience of the event.

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