### A Legacy in Venture Capital
**Charles Richard "Dick" Kramlich**, co-founder of the renowned VC firm **New Enterprise Associates (NEA)**, passed away at the age of 89. Known as a **godfather of modern venture capital**, Kramlich was one of the earliest investors in **Apple**, a move that significantly influenced the tech industry's landscape.

![Dick Kramlich](https://i.insider.com/67a11dcb7bb3f854015b8d22?width=700)
*Dick Kramlich, who cofounded NEA, was considered a pioneer of venture capital. Courtesy of NEA.*

### Early Contributions
Kramlich's vision and foresight allowed him to see the potential in emerging technologies, making him a key figure in the rise of venture capital as a major component of the tech economy. His investments not only yielded substantial returns but also helped to launch various successful companies.

### Impact on the Industry
His influence extends beyond financial gains; Kramlich's leadership and mentorship have inspired countless entrepreneurs and investors. His commitment to innovation and growth in the startup ecosystem is a testament to his legacy in the venture capital field.

Charles Richard "Dick" Kramlich, co-founder of VC firm New Enterprise Associates, was one of the earliest investors in Apple.

Remembering Richard Kramlich: The Pioneer Who Shaped Modern Venture Capital

Advertising technologies may have lost their shine among investors, but **StackAdapt** is turning heads with its innovative approach. The Toronto-based company has successfully raised **$235 million** in a growth round led by **Teachers’ Venture Growth**, the late-stage venture arm of the **Ontario Teachers’ Pension Plan**, alongside participation from **Intrepid Growth Partners** and other unnamed investors.

### Revolutionizing Advertising with AI

StackAdapt is a **multichannel programmatic advertising platform** that harnesses the power of **AI and automation** to enhance user experience and improve advertising effectiveness. Co-founder and CEO **Vitaly Pecherskiy** emphasized the **rapidly evolving challenges** that marketing teams face and the pressure they bear to drive growth. He stated, "To help them stay ahead of the curve, we are relentlessly focused on building the most advanced, intelligent, and automated platform to make their success inevitable."

### Significant Funding Milestone

This funding round comes on the heels of a **$300 million** investment from **Summit Partners** in 2022, bringing StackAdapt's total funding to over **$500 million** since its inception in **2014**. 

### The Advertising Landscape

The advertising tech sector has seen a slowdown in investor interest, primarily due to the dominance of **Big Tech** and changing consumer preferences. Notably, StackAdapt's recent funding round marks the largest for an advertising startup since **Madhive** raised **$300 million** from **Goldman Sachs Asset Management** in 2023. According to **Crunchbase**, advertising startups raised less than **$1 billion** in venture capital last year and only **$1.3 billion** in 2023.

![Startup Funding](https://news.crunchbase.com/wp-content/uploads/2021/03/startup_funding.jpg)

*Illustration by [Dom Guzman](https://www.domguzman.com/)*

StackAdapt raised a $235 million growth round led by Teachers’ Venture Growth — the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan.

StackAdapt Secures $235M Investment: A Game Changer for AI in Advertising

You might not think much about the **humble toilet seat** until it demands your attention. Rob Poleki, the CEO & Founder of **Washie**, recalls a particularly unpleasant experience at an airport toilet: "Why hasn’t anyone had any innovation in the stall?" After realizing that toilet seat covers have remained unchanged for over **70 years**, he decided to take action.

In **2015**, while serving as the Bannock County Clerk, Poleki founded **Washie** to tackle the issue of dirty toilet seats. The company offers a **smart toilet seat** designed for businesses, equipped with a cartridge of cleaning solution. Users can activate the cleaning solution via a sensor, ensuring the toilet seat is hygienic before use. Each cartridge provides about **2,000 cleans** and connects to Wi-Fi, alerting maintenance when it’s time for a replacement.

Now on its **fourth iteration**, Washie has gained traction in various public spaces, including **airports**, **gas stations**, and **hospitals**. However, Poleki is ready to expand into the home market. 

### Enter Alturas
Blake Hansen, a venture capitalist from Eagle, Idaho, has taken an interest in Washie. After meeting Poleki during **Boise Entrepreneur Week**, he was impressed by Poleki's scrappy approach to entrepreneurship. Hansen decided to invest in Washie, aiming to provide not just capital but also resources to help scale the business.

Hansen emphasizes the importance of community support for entrepreneurs in Idaho. He believes that while Washie has been successful in the commercial sector, the demand for a home version of the product is significant. With plans to launch the home version in the next year, Poleki points out the success of products like **Squatty Potty** and **Poo-pourri**, noting that there hasn't been a similar product in the bathroom space recently.

### Home Sweet Home
As they prepare to introduce Washie for residential use, both Poleki and Hansen are excited about the potential market. Poleki states, "It’s a great time to launch in the home; there’s nothing like it." With a focus on engineering and developing the product to meet consumer needs, they are optimistic about the future. 

Hansen sums it up succinctly: "People just want to have a **clean toilet seat** when they sit down."

You might not think much about the humble toilet seat. That is, until the seat demands attention. Then you likely can’t think of much else. “Me and my son were at the airport, and we encountered a disgusting toilet seat,” Washie CEO & Founder Rob Poleki said. “‘Why hasn’t anyone had any innovation in the […]

Revolutionizing Cleanliness: Idaho Startup Washie Aims to Transform Toilet Seats for Home Use

The **meteoric rise** of DeepSeek—the Chinese AI startup now challenging global giants—has stunned observers and put the spotlight on China’s AI sector. Since **ChatGPT’s debut in 2022**, the country’s tech ecosystem has been in relentless pursuit of homegrown alternatives, giving rise to a wave of startups and billion-dollar bets.

Today, the race is dominated by tech titans like **Alibaba** and **ByteDance**, alongside well-funded rivals backed by heavyweight investors. But two years into China’s generative AI boom we are seeing a shift: Smaller innovators have to carve out their own niches or risk missing out. What began as a sprint has become a **high-stakes marathon**—China’s AI ambitions have never been higher.

An elite group of companies known as the **“Six Tigers”**—Stepfun, Zhipu, Minimax, Moonshot, 01.AI, and Baichuan—are generally considered to be at the forefront of China’s AI sector. But alongside them, research-focused firms like DeepSeek and ModelBest continue to grow in influence. Some, such as **Minimax** and **Moonshot**, are giving up on costly foundational model training to hone in on building consumer-facing applications on top of others’ models. Others, like **Stepfun** and **Infinigence AI**, are doubling down on research, driven in part by **US semiconductor restrictions**.

We have identified these four Chinese AI companies as the ones to watch:

### **Stepfun**  
Founded in April 2023 by former Microsoft senior vice president **Jiang Daxin**, Stepfun emerged relatively late onto the AI startup scene, but it has quickly become a contender thanks to its portfolio of foundational models. It is also committed to building **artificial general intelligence (AGI)**, a mission a lot of Chinese startups have given up on.

With backing from investors like **Tencent** and funding from Shanghai’s government, the firm released **11 foundational AI models** last year—spanning language, visual, video, audio, and multimodal systems. Its biggest language model so far, **Step-2**, has over **1 trillion parameters** (GPT-4 has about 1.8 trillion). It is currently ranked behind only ChatGPT, DeepSeek, Claude, and Gemini’s models on [LiveBench](https://livebench.ai/#/), a third-party benchmark site that evaluates the capabilities of large language models.

Stepfun’s multimodal model, **Step-1V**, is also highly ranked for its ability to understand visual inputs on **Chatbot Arena**, a crowdsource platform where users can compare and rank AI models’ performance. This company is now working with AI application developers, who are building on top of its models. According to [Chinese media outlet 36Kr](https://36kr.com/p/3090736042736004), demand from external developers to use Stepfun’s multimodal API surged over **45-fold** in the second half of 2024.

### **ModelBest**  
Researchers at the prestigious **Tsinghua University** founded ModelBest in 2022 in Beijing’s Haidian district. Since then, the company has distinguished itself by leaning into **efficiency** and embracing the trend of **small language models**. Its **MiniCPM series**—often dubbed “Little Powerhouses” in Chinese—is engineered for on-device, real-time processing on smartphones, PCs, automotive systems, smart home devices, and even robots. Its pitch to customers is that this combination of smaller models and local data processing cuts costs and enhances privacy.

ModelBest’s newest model, **MiniCPM 3.0**, has only **4 billion parameters** but matches the performance of GPT-3.5 on various benchmarks. On **GitHub** and **Hugging Face**, the company’s models can be found under the profile of OpenBMB (Open Lab for Big Model Base), its open-source research lab. Investors have taken note: In December 2024, the company announced a new, third round of funding worth **tens of millions of dollars**.

### **Zhipu**  
Also originating at Tsinghua University, **Zhipu AI** has grown into a company with strong ties to **government** and **academia**. The firm is developing foundational models as well as AI products based on them, including **ChatGLM**, a conversational model, and a video generator called **Ying**, which is akin to OpenAI’s Sora system.

**GLM-4-Plus**, the company’s most advanced large language model to date, is trained on **high-quality synthetic data**, which reduces training costs, but has still matched the performance of GPT-4. The company has also developed **GLM-4V-Plus**, a vision model capable of interpreting web pages and videos, which represents a step toward AI with more **“agentic” capabilities**.

Among the cohort of new Chinese AI startups, Zhipu is the first to get on the US government’s radar. On January 15, the Biden administration revised its export control regulations, adding over **20 Chinese entities**—including 10 subsidiaries of Zhipu AI—to its restricted trade list, restricting them from receiving US goods or technology for national interest reasons. The US claims Zhipu’s technology is helping China’s military, which the company denies.

Valued at over **$2 billion**, Zhipu is currently one of the biggest AI startups in China and is reportedly soon planning an **IPO**. The company’s investors include **Beijing city government-affiliated funds** and various prestigious VCs.

### **Infinigence AI**  
Founded in 2023, **Infinigence AI** is smaller than other companies on this list, though it has still attracted **$140 million** in funding so far. The company focuses on **infrastructure** instead of model development. Its main selling point is its ability to combine chips from lots of different brands successfully to execute AI tasks, forming what’s dubbed a “heterogeneous computing cluster.” This is a unique challenge Chinese AI companies face due to **US chip sanctions**.

Infinigence AI claims its system could increase the effectiveness of AI training by streamlining how different chip architectures—including various models from **AMD**, **Huawei**, and **Nvidia**—work in synchronization. In addition, Infinigence AI has launched its **Infini-AI cloud platform**, which combines multiple vendors’ products to develop and deploy models. The company says it wants to build an effective compute utilization solution “with **Chinese characteristics**,” and native to AI training. It claims that its training system **HetHub** could reduce AI models training time by **30%** by optimizing the heterogeneous computing clusters Chinese companies often have.

### **Honorable mentions**  
### **Baichuan**  
While many of its competitors chase scale and expansive application ranges, **Baichuan AI**, founded by industry veteran **Wang Xiaochuan** (the founder of Sogou) in April 2023, is focused on the domestic Chinese market, targeting sectors like **medical assistance** and **health care**. With a valuation over **$2 billion** after its newest round of fundraising, Baichuan is currently among the biggest AI startups in China.

### **Minimax**  
Founded by AI veteran **Yan Junjie**, Minimax is best known for its product **Talkie**, a companion chatbot available around the world. The platform provides various characters users can chat with for emotional support or entertainment, and it had even more downloads last year than leading competitor chatbot platform [Character.ai](http://character.ai). Chinese media outlet 36Kr reported that Minimax’s revenue in 2024 was around **$70 million**, making it one of the most successful consumer-facing Chinese AI startups in the global market.

### **Moonshot**  
Moonshot is best known for building **Kimi**, the second-most-popular AI chatbot in China, just after ByteDance’s Doubao, with over **13 million users**. Released in 2023, Kimi supports input lengths of over **200,000 characters**, making it a popular choice among students, white-collar workers, and others who routinely have to work with long chunks of text. Founded by **Yang Zhilin**, a renowned AI researcher who studied at Tsinghua University and Carnegie Mellon University, Moonshot is backed by big tech companies, including **Alibaba**, and top venture capital firms. The company is valued at around **$3 billion** but is reportedly scaling back on its foundational model research as well as overseas product development plans, as key people leave the company.

Four Chinese AI startups to watch beyond DeepSeek. These companies are all in a position to compete both within China and beyond.

Discover the Rising Stars: 4 Chinese AI Startups Ready to Compete Globally

## Ex-McKinsey Consultant Launches AI Startup

**Yersultan Sapar** and **Alibek Dostiyarov**, co-founders of **Perceptis**, are on a mission to empower smaller firms in the consulting industry using **AI technology**. They emphasize that AI can effectively manage the **tedious tasks** traditionally handled by consultants, allowing these smaller businesses to compete against the larger 'goliaths' in the market.

![Perceptis Co-Founders](https://i.insider.com/679d866deb4be2fff9a32eaa?width=700)
*Perceptis co-founders Yersultan Sapar, left, and Alibek Dostiyarov, right, have raised $3.6 million for their AI startup.*

The startup has successfully raised **$3.6 million** in funding, which will be used to enhance their AI capabilities and further develop their platform. The co-founders believe that by automating repetitive tasks, they can help small firms save time and resources, ultimately leading to increased efficiency and productivity.

With a background at **McKinsey**, Sapar understands the challenges faced by smaller firms and is committed to providing them with the tools needed to thrive in a competitive landscape. The integration of AI into consulting services is not just a trend; it's a transformative step that could redefine how consulting is approached by smaller players in the industry.

The co-founders of the start up Perceptis, including a McKinsey alum, say AI can take over some of the most tedious tasks that consultants do.

How an Ex-McKinsey Consultant is Revolutionizing Small Business Consulting with AI

### A New Era of Civic Engagement

LINCOLN — **Heather Nelson**, troubled by missed opportunities to voice public opinion, founded **Ideologix Insights**, a startup aiming to enhance connections between citizens and their elected officials. With a **$75,000 state grant**, this initiative offers **pulse polls** and innovative tools for civic engagement.

Last week, the data analytics team unveiled results from a poll regarding Nebraska’s **Electoral College** voting system, presenting a new way for citizens to express their views on pressing issues.

![Heather Nelson, founder and CEO of Ideologix Insights, testifying before a legislative committee.](https://nebraskaexaminer.com/wp-content/uploads/2025/02/image-4-300x160.jpg)

*Heather Nelson, founder and chief executive of Ideologix Insights, testifies last week before a legislative committee about a poll her company conducted. (Courtesy of NET, screenshot)*

### Innovative Polling Approach

Nelson describes the platform as a **“temperature check”** for public sentiment, offering a **quick and efficient** way to gather insights. The platform, **PollTheVote.com**, allows Nebraskans aged 15 and older to register for free, with elected officials and civic groups subscribing for visibility on the site, akin to a **Netflix menu**.

Participants can easily access information and take part in pulse polls, where data is collected and analyzed rapidly. While the polling is not scientific, it provides **raw, real-time data** reflecting the opinions of engaged citizens.

### Engaging Community Feedback

The recent poll on the winner-take-all voting system showed **overwhelming support** (91.83%) for maintaining the current system. This platform allows for demographic insights without compromising individual identities, revealing trends across various groups, including party affiliation.

### Challenges and Potential

Nelson, with support from the **Platte Institute**, believes the startup has the potential to provide **real-time feedback** on public policy. However, challenges remain in gaining public trust for participation. Early adopters like **State Sen. Margo Juarez** see this platform as a valuable tool for reaching constituents, especially those hesitant to use traditional social media.

### The Vision Ahead

Inspired by a personal experience of missing a chance to testify on legislation, Nelson’s vision is to create a platform that allows Nebraskans to share their thoughts in a **private and secure manner**. With plans for future enhancements and potential national expansion, Ideologix Insights aims to transform how citizens engage with their government. 

*“It offers Nebraskans a new way to be on the front end of legislation creation,”* Nelson asserts as she prepares to present poll results at future legislative hearings.

A startup company with UNO ties offers pulse polls and other ways to connect with elected officials, candidates and community leaders.

Revolutionizing Civic Engagement: How a Nebraska Startup is Connecting Citizens with Lawmakers

![KORE Power at the 2024 RE+ renewable energy and storage trade event](https://www.energy-storage.news/wp-content/uploads/2025/02/IMG_5142-1024x768.jpg)

**Leadership Changes at KORE Power**  
The CEO and founder of KORE Power, Lindsay Gorrill, has announced his resignation, with Jay Bellows stepping in as the new CEO. Gorrill expressed his gratitude for the team's efforts in building the company since its inception in 2018.

**Company Overview**  
KORE Power specializes in designing and manufacturing **energy storage products** including complete battery energy storage systems (BESS). The company had ambitious plans to construct a gigafactory in Arizona, aiming for a production capacity of up to **12GWh**.

**KOREPlex Gigafactory Plans Halted**  
Despite initial optimism about the KOREPlex project, KORE Power has decided to **restructure** and **sell the Arizona factory site**. The company emphasized its commitment to **domestic manufacturing** of energy storage systems, focusing instead on its Vermont facility.

**Manufacturing Capacity Growth**  
Under Jay Bellows' leadership, KORE Power has significantly increased its manufacturing capacity from **60MWh to 3,400MWh**. The company has also secured partnerships and supply deals with major players like **Nidec** and **Energy Vault**.

**Continued Focus on US Production**  
While the gigafactory plans are on hold, KORE Power continues to manufacture **lithium-ion battery cells** in China and aims to advance US manufacturing capabilities. The company has received a conditional commitment from the US Department of Energy for a **US$850 million loan**, although no funds have been disbursed yet.

**Future Outlook**  
Despite the setbacks, KORE Power remains committed to its mission of supporting US manufacturing and sustainability in the energy sector, as highlighted by Gorrill's advocacy for local supply chains and battery production.

CEO and founder of KORE Power has resigned, while the vertically integrated battery storage startup has put Arizona factory site up for sale.

KORE Power's Shocking Shift: Arizona Gigafactory Plans Scrapped Amid Leadership Change

**Exploring the Work Culture of French Entrepreneurs**

The discussion around the work ethic of French founders has gained traction, especially with the phrase **'Hustle dies at 6pm'** becoming a point of contention. This debate raises questions about whether French entrepreneurs are truly working hard enough compared to their global counterparts.

**The French Work-Life Balance**

France is known for its strong work-life balance, often prioritizing personal time over relentless work hours. This cultural norm can be seen as both a strength and a limitation in the fast-paced world of startups. While it promotes well-being, it may also hinder the aggressive growth strategies seen in other entrepreneurial ecosystems.

**Comparative Analysis with Global Startups**

In contrast to the **Silicon Valley hustle culture**, where long hours are often glorified, French founders might be perceived as less driven. However, many successful startups in France challenge this stereotype, demonstrating that quality can prevail over quantity in work hours.

**The Importance of Focus and Productivity**

Rather than emphasizing the number of hours worked, the French startup scene is increasingly focusing on **productivity and efficiency**. Founders are encouraged to maximize their output during working hours, leading to innovative approaches to business challenges.

**Key Takeaways for Aspiring Entrepreneurs**

- **Cultural Perspectives**: Understanding the local work culture is crucial for entrepreneurs operating in different regions.
- **Quality over Quantity**: Emphasizing productivity can lead to better outcomes than merely increasing work hours.
- **Global Comparisons**: Learning from different startup ecosystems can provide valuable insights for improving one’s own business strategies.

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Remembering Richard Kramlich: The Pioneer Who Shaped Modern Venture Capital

Summary:

A Legacy in Venture Capital

Early Contributions

Impact on the Industry

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