Psychedelic biotech, Gogoro’s SPAC, H-1Bs for Ukrainians – MovieUpdates

You may not have heard of Amadeus, but if you’ve taken a trip, you’ve probably interacted with his tech stack.

Founded in 1987, the company provides hundreds of transportation and hospitality providers with inventory management and booking services. “Basically, it covers just about every aspect of travel IT imaginable,” writes business reporter Ron Miller.

For years, Amadeus managed its own infrastructure, but when the pandemic slowed global travel to a trickle, the executive team realized mounting technical debt was holding the company back.


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To learn more about the planned three-year migration to the public cloud, Ron interviewed Sébastien Pellisé, Deputy Leader for Public Cloud Transformation, and Fredrik Odeen, Amadeus’ Leader for Public Cloud Transformation and Business Strategy,

They shared their cloud vendor evaluation process, described Amadeus’ move to a DevOps model, and explained how they communicate the predicted benefits to customers. “Our engineers are excited about this step,” says Pellisé.

Amadeus has 16,000 employees and made more than $2 billion in revenue last year, but early stage startups can learn from the digital transition, Ron writes.

“As your technology becomes more outdated, you’ll also have to make similar decisions.”

Thank you so much for reading – have a nice weekend!

Walter Thompson
Senior Editor, MovieUpdates+
@yourprotagonist

Gogoro’s public debut could boost EV battery swapping around the world

A photo of a woman standing next to a scooter in front of a Gogoro batterij battery changing station

Image Credits: gogoro (Opens in a new window)

If you can map any oasis in a desert, you’ve created a transportation network.

Gogoro, which operates a battery swap platform for two-wheeled EVs in urban areas, is doing something similar: On Monday, it finalized a SPAC merger with Poema Global that will generate an estimated $335 million in cash.

“Gogoro will use the new funds from its IPO to expand further in Taiwan as it branches into larger markets such as China, India and Indonesia,” writes transportation reporter Rebecca Bellan.

6 questions investors should ask when evaluating psychedelic biotech companies

Lab tech with a psilocybin mushroom

Image Credits: Yarygin (Opens in a new window) / Getty Images

A few years ago, taking small amounts of psychedelics to improve one’s mood or productivity was fodder for talk in Silicon Valley.

Today, psychedelic therapies are used to treat a variety of mental health problems. And as more regions decriminalize the use of plant compounds, investors are taking notice.

With plans to raise a $25 million fund and more than $15 million has already been invested, PsyMed Ventures is targeting early-stage startups developing psychedelic therapies.

In a guest post from TC+, partners Matias Serebrinsky and Greg Kubin examine their investment thesis in detail: “We believe in a future where psychedelic therapy will be as commonplace as going to the dentist, but the path won’t be easy.”

Dear Sophie: Supporting Ukrainians with H-1Bs and more

lone figure at the entrance of the maze hedge with an American flag in the middle

Image Credits: Bryce Durbin/MovieUpdates

Dear Sophie,

We are a startup that currently has an employee, who is originally from Ukraine, working for us on an H-1B visa. He is trying to get his parents out of Ukraine.

We also enrolled a potential Ukrainian employee who had fled to Poland in the H-1B lottery, but he had not yet been selected.

How can we support them?

— United with Ukraine

The fundraising market is losing some of its founder-friendly sheen

Image Credits: Nigel Sussman (Opens in a new window)

With VCs pulling back, valuations slipping and the 2021 hype fading, founders find themselves working harder to raise capital than they were in 2021, Alex Wilhelm found in his analysis of early data from DocSend.

“If we factor in that sentiment shift and the fact that totals fell from fourth-quarter levels, we can conclude that the second quarter of 2022 could easily report another sequential decline in global and U.S. venture capital activity,” he writes. .

What Axie Infinity’s Binance bailout means for the future of crypto

This photo illustration shows the Binance logo

Image Credits: SOPA images (Opens in a new window) / Getty Images

After unknown parties last week stole $625 million from the play-to-earn crypto game Axie Infinity, the studio behind the game announced it had raised $150 million to compensate users.

“The interesting thing about this funding round is that it was led by crypto exchange Binance – the largest exchange in the world – although Binance had not participated in previous raises of Sky Mavis,” writes Anita Ramaswamy.

“In any case, today’s investment demonstrates how important Axie’s precedent is to the development of the wider ecosystem — and how willing VCs and crypto incumbents are to make sure it succeeds.”

3 ways deep tech founders can climb out of a pilot’s purgatory

woman looking up at opening in Jomblang Cave

Image Credits: Yinwei Liu (Opens in a new window) / Getty Images

Because so many deep-tech startups operate on the fringes, founders in this space have a harder time raising funds, acquiring customers and achieving product-market fit.

Many of these companies will retire early because they never move from the pilot phase to a full rollout. “This is a big, widespread, industry-specific problem,” said Champ Suthipongchai, co-founder and general partner at Creative Ventures.

“While I don’t suppose I have a silver bullet solution, I know of three ways deep tech founders can make sure their time in pilot purgatory ends in a rollout.”

Why VCs Shouldn’t Fear a Financial Slowdown

daisy flower in the desert

Image Credits: masik0553 (Opens in a new window) / Getty Images

According to Marc Schröder, managing partner at MGV, “seed stage investing is the best place for venture capital to bet when global uncertainty sets in.”

Rather than pumping money into “companies that needed massive growth and scale to grow to their valuations,” investors are turning to smaller startups with “reasonable scale challenges.”

Ultimately, any prolonged chill in public markets will shrink the amount of resources available to startups, “but that might not be the worst thing for investors looking to double their investments at attractive prices,” says Schröder.

Terra founder plans to back his stablecoin with a ‘basket’ of cryptocurrencies

Illustration of a man on a seesaw with coins.

Image Credits: Nuthawut Somsuk (Opens in a new window) / Getty Images

In an interview with reporter Jacquelyn Melinek, Terraform Labs founder Do Kwon explained how his plans to buy $10 billion worth of bitcoin will help the TerraUSD (UST) integrate “stablecoin deeper into the crypto ecosystem.”

Terra will support UST with additional Layer 1 blockchains as it expands its ecosystem, Kwon said.

“We’re big supporters of Bitcoin, so we’ll just keep buying when the opportunity arises.”

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