The tech world is impatiently awaiting Elon Musk’s latest indulgence – implanting artificial technology into the human brain. On Tuesday, Musk let out a teaser tweet about his new startup Neuralink. Meanwhile, streaming service Spotify acquired a New York-based startup in a bid to expand its technological base. Closer to home, financial technology startup Trupay has a plan to turn profitable in six months.
Here’s what went on this week on Startup Street.
Elon Musk To Reveal His Cyborg Dream Next Week
After electric cars and reusable spacecrafts, billionaire Elon Musk is looking to plant computerised chips into the human brain. Or that’s what everyone is assuming.
On 28 March, Musk confirmed that he would soon end the mystery around his latest venture, Neuralink, in a detailed report by news platform Wait But Why.
Long Neuralink piece coming out on @waitbutwhy in about a week. Difficult to dedicate the time, but existential risk is too high not to.— Elon Musk (@elonmusk) March 28, 2017
While there isn’t much information available about the company, Musk often tweets about neural lace – a theoretical concept relating to a cyborg mind. The startup has been registered as a ‘medical research’ company in California, according to a report by the Wall Street Journal. The startup is being funded by Elon Musk himself.
@BelovedRevol Making progress. Maybe something to announce in a few months. Have played all prior Deus Ex. Not this one yet.— Elon Musk (@elonmusk) August 28, 2016
The news around Neuralink suggests that the company is working on a computerised chip that could improve memory or allow for more direct interfacing with computing devices. Some reports even suggest that humans would be able to download, upload and transfer thoughts into the chip.
More details on the company are expected to be released in the coming week.
Spotify Acquires Watchlist Application MightyTV
The world’s largest music streaming application acquired a television and movie recommendation application called MightyTV in an effort to add to its technology kitty.
The New York-based Mighty TV has closed operations and transferred its technology into Spotify, according to a report by Bloomberg.
“MightyTV has been acquired by Spotify. Effective immediately, the MightyTV app will no longer be updated or available,” the startup’s website now reads.
This is Spotify's sixth deal in a year as the company tries to widen its revenue base through different arms, the Bloomberg report said.
Trupay to Turn Profitable In 6 Months
E-wallet startup Trupay expects to turn profitable in the coming months as it realigns its focus towards enterprise payments.
“We are focusing on enterprise payments after the launch of various UPI apps, including BHIM... We are witnessing good traction among enterprises for Trupay,” said its co-founder Vivek Lohcheb, in an interview to wire agency PTI.
The company now expects to cross the Rs 100-crore mark in the next six months.
With the introduction of a large number of similar applications in the market, the financial technology startup has also turned platform agnostic to allow easier operation for merchants.
Vivek LohchebWe have 5 lakh consumers using Trupay but our focus will remain on merchants and enterprise.
(Article is published in arrangement with BloombergQuint.)
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