**Samsung** is taking a significant step in the tech industry by acquiring a **South Korean robotics startup** as a new subsidiary. This move is part of Samsung's strategy to strengthen its position in the **robotics sector** and innovate within the rapidly evolving technology landscape. The acquisition aims to leverage the startup's expertise and technology to enhance Samsung's offerings in automation and robotics. As the demand for **advanced robotics solutions** continues to grow, this acquisition positions Samsung to compete effectively in the market. By integrating the startup's innovative solutions, Samsung is expected to accelerate its development of **robotic technologies** and expand its market reach. This strategic move highlights **Samsung's commitment** to innovation and its vision for the future of technology.

Tech in Asia (YC W15) is a media, events, and jobs platform for Asia's tech communities.

Samsung's Bold Move: Acquiring a Robotics Startup in South Korea

### A Chaotic Holiday for Small Businesses

**Friday, December 27**, was meant to be a relaxing start to the holiday weekend, but it turned into **chaos** for thousands of small business owners using **Bench**, a Canadian accounting startup that had raised **$113 million** from investors like **Bain Capital Ventures** and **Shopify**. Customers found themselves unable to log into their accounts just as tax season began, with Bench's entire website offline, announcing its **sudden shutdown** after **13 years of operation**.

### Immediate Layoffs

Bench's staff faced **immediate layoffs** without severance or notice. Affected employees reported that they learned about the shutdown through media inquiries, highlighting the **shock** of the situation. 

### Automation Challenges

Bench marketed itself as a **tech-forward** bookkeeping solution but struggled with automation. Many staff members noted that while automation in theory simplifies tasks like categorizing expenses, the **execution was flawed**. This reliance on automated tools led to delays in service, pushing some customers away, with reports of clients still waiting for their **2023 books** well into **September 2024**.

### Turmoil in Leadership

The company's troubles were exacerbated by **executive turmoil**. After the departure of co-founder and first CEO **Ian Crosby** in 2021, who cited board pressure, the company saw a series of leadership changes. The focus shifted towards profitability and automation under his successors, but these strategies failed amidst ongoing **customer churn** and **declining investor interest**.

### A Sudden Shutdown

On December 27, Bench abruptly ceased operations. The shutdown was reportedly triggered by a bank calling in its **venture debt**, despite ongoing sales up to that day. This unexpected closure drew media attention, which ultimately led to a potential revival.

### An Unlikely Revival

After the shutdown, **Jesse Tinsley**, CEO of **Employer.com**, saw the news and initiated a **quick acquisition** deal. Within **36 hours**, Employer.com announced its plans to acquire Bench, aiming to save jobs and maintain customer service.

### Uncertainties Ahead

While Employer.com promised to rehire many former Bench employees and honor customer contracts, uncertainties linger about Bench’s **long-term sustainability**. The rapid acquisition raised questions about service quality and the ability to navigate the complexities of accounting, given Employer.com's lack of experience in the field. Despite these challenges, the new leadership expressed confidence in Bench's reputation and potential for recovery.

Friday, December 27, was supposed to be the start of a relaxing holiday weekend. But it was chaos for thousands of small business owners who use Bench, an

The Dramatic Shutdown and Unexpected Revival of Bench: A Startup Rollercoaster

### Indiana Startups at CES 2024

The **Indiana Economic Development Corp. (IEDC)** has selected **eight innovative startups** from Indiana to showcase at the **CES trade show** in Las Vegas next week, marking the **fourth consecutive year** of their participation. This year's event is scheduled for **January 7-10**, and the IEDC will feature the **Indy Autonomous Challenge**, an autonomous race car event, on **January 9** at the **Las Vegas Motor Speedway**.

![Startup Innovations](https://cdn.ibj.com/wp-content/uploads/2024/10/entrepreneurship.jpeg)
*(Image Source: Adobe Stock)*

The **Indiana Pavilion** will be located in the **Eureka Park** area of CES, which is dedicated to startups. In 2024, **1,442 startups** participated in Eureka Park, providing a platform for networking with potential customers, partners, and investors.

### Startups Participating in CES 2024
The eight selected startups include:
- **Ateios Systems** (Newberry): **Innovative battery manufacturing** technology.
- **Davinci Wearables** (Indianapolis): **Health analytics platform** for women.
- **Echo Tech.ai** (Indianapolis): **AI-powered navigation** for power wheelchairs.
- **Hearsight Inc.** (South Bend): **Real-time speech-to-text** technology for the deaf and hard of hearing.
- **LEO Flight** (Pendleton): Developing **electric-jet-powered flying cars**.
- **Laxis Inc.** (Newburgh): **AI-powered earbuds** for recording and summarizing conversations.
- **Plantennas** (Chesterton): **Biodegradable plant pots** with smart technology.
- **Wicked Technology** (Clarksville): **Smart mattress pad** that detects moisture.

The IEDC is investing **$84,000** in this year’s CES, covering exhibit space, travel costs, and hosting a reception for Indiana affiliates. The selected startups will manage their own travel and display expenses.

### Selection Criteria
To qualify, startups had to be in the **consumer technology** sector with innovative products launched no earlier than **January 1, 2024**. In addition to the IEDC's selection, other Indiana companies will also attend, including:
- **CallerAlert LLC** (Evansville): Light-up beacon for smartphone calls.
- **Eclisse** (Princeton): App and software development.
- **Fitasy Inc.** (Carmel): Customized shoes using **3-D printing**.
- **Peak Mind** (Indianapolis): Technology for **employee mental well-being**.
- **Schlage Lock Co. LLC** (Carmel): Security products.
- **Specialty Coating Systems Inc.** (Indianapolis): Coatings for medical devices and electronics.
- **Wave Therapeutics** (Nashville): Smart wheelchair cushion to prevent pressure sores.

The Indiana Economic Development Corp. has selected eight Indiana startups to accompany the organization to CES, the major consumer electronics trade show being held next week in Las Vegas.

Meet the Innovative Indiana Startups Showcasing at CES 2024 in Las Vegas!

### Introduction  
The landscape of cloud technology is rapidly evolving, and several **promising startups** are set to make waves in 2025. Among them are **Guidewheel**, **Spectro Cloud**, and **Wiz**, which have recently been recognized in CRN’s list of **10 Cloud Startups To Watch**.  
  
### Criteria for Selection  
CRN focused on companies founded in **2018 or later**, emphasizing those with significant funding rounds in late 2024. Startups that have established **channel partner programs** received additional consideration, reflecting their potential for growth in a competitive market.  
  
### The Cloud Market Growth  
According to a **Gartner report**, **90% of organizations** are expected to adopt a **hybrid cloud approach** by 2027, with global spending on public cloud services projected to reach **$723.4 billion** in 2025, up from **$595.7 billion** in 2024. This surge in demand is driven by advancements in **data management** and **synchronization**, particularly in the realm of **generative AI**.  
  
### Notable Startups to Watch  
CRN has been curating lists of **emerging startups** across various sectors, including **big data**, **semiconductors**, and **security**. The following are the standout cloud startups poised for success in 2025:  
- **Guidewheel**: Innovating in measuring equipment performance using AI.  
- **Spectro Cloud**: Offering a robust Kubernetes management platform for scalable environments.  
- **Wiz**: Leading the charge in cloud security tools.  
  
Stay tuned as these startups navigate the future of cloud technology and reshape the industry.

Guidewheel, Spectro Cloud and Wiz are among the startups to make CRN’s 10 Cloud Startups To Watch in 2025.

Top 10 Innovative Cloud Startups to Keep an Eye On in 2025

### Plenty Unlimited Inc. Faces Dramatic Funding Challenges

**Plenty Unlimited Inc.**, a leader in **vertical farming** backed by notable investors like **Jeff Bezos**, is currently negotiating a new funding round that may significantly diminish the value of existing stockholders. According to insiders, this funding round could wipe out most of the current shareholders.

### New Funding Round Details

The company is seeking to raise **$125 million** as part of its recapitalization efforts, despite having already attracted nearly **$1 billion** from investors including **Eric Schmidt** and **SoftBank Group Corp**. The proposed funding would value Plenty’s existing shares at under **$15 million**, a drastic drop from its previous valuation of **$1.9 billion** recorded by **PitchBook**.

### Leadership Changes and Strategic Shift

Recently, Plenty appointed **Daniel Malech** as the interim CEO following the departure of **Arama Kukutai**. Malech previously served as the company's **senior vice president of strategy and general counsel**. The company is also shifting its operational focus; instead of cultivating a wide range of crops, it will now concentrate on **strawberries**, which are expected to yield higher profits.

### Broader Industry Context

This move comes in the wake of a challenging environment for the indoor farming sector, with several companies, including **Bowery Farming**, having ceased operations or filed for bankruptcy. Plenty's new financing is expected to be led by **One Madison Group**, with participation discussions ongoing with **SoftBank’s Vision Fund** and **Walmart Inc.** However, the completion of this financing is not guaranteed.

### Conclusion

Plenty's shift in strategy underscores the growing difficulties faced by the indoor farming industry, which aims to provide sustainable food solutions amid climate challenges. Founded a decade ago, Plenty has garnered significant attention and investment but must now navigate these turbulent waters to secure its future.

(Bloomberg) -- Plenty Unlimited Inc., a pioneer of vertical farming that’s drawn backing from billionaires including Jeff Bezos, is in talks for a new funding round that will virtually wipe out existing stockholders, according to a person familiar with the matter. Most Read from BloombergIs This Weird Dome the Future of Watching Sports?NYPD Seeking Gunmen After 10 People Wounded Outside Queens VenueDetroit’s Michigan Central Is the Building Revival Story of 2024Burned Out Parents Need Better Pub

Plenty's Struggles: Vertical Farming Pioneer Faces Drastic Valuation Cut and Strategic Shift

### Greece's Startup Landscape

Greece's startup ecosystem is witnessing **remarkable growth** in 2024, showcasing the resilience and innovation of entrepreneurs across the nation. With a surge in **investment opportunities**, the country is becoming a hub for **tech startups** and **entrepreneurial ventures**. 

### Key Factors Driving Growth
- **Government Initiatives**: The Greek government has implemented various policies to foster a **supportive environment** for startups, including tax incentives and funding programs.
- **Access to Funding**: Venture capital and angel investors are increasingly looking at Greece as a **promising market**, providing essential capital for new ventures.
- **Talent Pool**: A growing number of skilled professionals are returning to Greece, bringing their expertise and innovation to the startup scene.

### Success Stories
Prominent startups in Greece are making headlines, contributing to the economic landscape with their **disruptive technologies** and solutions.

### Future Outlook
The outlook for Greece's startup sector remains **positive**, with expectations of continued growth and expansion in various industries, particularly in **tech and sustainable ventures**.

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Exploring the Booming Startup Scene in Greece: Insights from 2024

### A Journey Beyond Wealth

**Vinay Hiremath**, a 32-year-old tech entrepreneur, made headlines as the co-founder of **Loom**, a video messaging platform that gained significant traction. After selling the company, he is now navigating the complex landscape of **finding purpose** beyond his financial success.

![Vinay Hiremath](https://i.insider.com/5fe24122a644880018192f7f?width=700)

### Exploring New Horizons

Following his exit from Loom, Vinay has embarked on an **adventurous journey**, studying **physics** and even climbing **Himalayan mountains**. His diverse interests showcase a desire to explore life beyond the confines of tech entrepreneurship.

### The Challenge of Purpose

As he reflects on his journey, Vinay faces the daunting question many entrepreneurs encounter: **What comes next?** The transition from running a successful startup to seeking personal fulfillment can be challenging, as many founders struggle to redefine their identities post-exit.

### A Month with DOGE

In a recent twist, Vinay even took a brief stint with **DOGE**, the cryptocurrency that has captured global attention. This experience added another layer to his exploration of purpose, blending technology with the unpredictable world of digital currencies. 

Vinay's story is a compelling reminder that **wealth** does not equate to **fulfillment**, and the search for meaning is a universal journey for many in the tech industry.

32-year-old Vinay Hiremath has studied physics, climbed Himalayan mountains, and worked for DOGE for a month since leaving the company he co-founded.

From Wealth to Wonder: Vinay Hiremath's Quest for Meaning After Loom's Success

### Sundial Foods: A Brief Overview

**Sundial Foods**, a California-based startup known for its innovative protein-structuring technique for **meat alternatives**, has officially closed down. The company has sold its **intellectual property** to a large, undisclosed European food company.

### The Rise and Fall

Founded in **2019** by **Jessica Schwabach** (CEO) and **Dr. Siwen Deng** (CTO) from U.C. Berkeley’s Alternative Meats program, Sundial Foods gained attention after participating in the **Nestlé R&D Accelerator** in **2020**. They secured **$4 million** in a seed round in **November 2021** and received a **$5,000 grant** from Delaware’s **Startup302 competition**.

In **2022**, they launched their much-anticipated **plant-based chicken wings** with a unique recipe that included chickpeas, sunflower oil, and nutritional yeast, featuring an edible “skin” made from a protein-lipid film. The wings debuted in select restaurants across **New York** and **San Francisco**.

### Challenges Faced

Despite the initial buzz, the startup struggled with the challenging **fundraising environment** in the past few years. Jessica Schwabach commented on their journey, stating, “While we strongly believed in the mission, we started to see that operating as a venture-backed startup trying to build everything on our own was not the best way to scale our technology.”

The opportunity to sell to a larger company with an established distribution network was viewed as a strategic move to advance their technology further than they could on their own.

Sundial Foods generated some buzz in 2022 with the launch of chicken wings with edible “skin”, and “bones” from bamboo stalks.

Samsung's Bold Move: Acquiring a Robotics Startup in South Korea

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Other Latest News

The Dramatic Shutdown and Unexpected Revival of Bench: A Startup Rollercoaster

Meet the Innovative Indiana Startups Showcasing at CES 2024 in Las Vegas!

Top 10 Innovative Cloud Startups to Keep an Eye On in 2025

Plenty's Struggles: Vertical Farming Pioneer Faces Drastic Valuation Cut and Strategic Shift

Exploring the Booming Startup Scene in Greece: Insights from 2024

From Wealth to Wonder: Vinay Hiremath's Quest for Meaning After Loom's Success

What Went Wrong? Nestlé-Backed Sundial Foods Shuts Down After Plant-Based Buzz

Other Latest News

The Dramatic Shutdown and Unexpected Revival of Bench: A Startup Rollercoaster

Meet the Innovative Indiana Startups Showcasing at CES 2024 in Las Vegas!

Top 10 Innovative Cloud Startups to Keep an Eye On in 2025

Plenty's Struggles: Vertical Farming Pioneer Faces Drastic Valuation Cut and Strategic Shift

Exploring the Booming Startup Scene in Greece: Insights from 2024

From Wealth to Wonder: Vinay Hiremath's Quest for Meaning After Loom's Success

What Went Wrong? Nestlé-Backed Sundial Foods Shuts Down After Plant-Based Buzz