🦣 CRISPR Startup Raises $15M in Seed Round

08/15/2021

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CRISPR Startup Raises $15M in Seed Round

Colossal, a bioscience and genetics startup, launches its projects with $15 million in seed funding.

The startup which was co-founded by George Church, a geneticist, and Ben Lamm, emerging technology and software entrepreneur, has said it is aiming to fight the effects of climate change through the restoration of the ecosystem.

By using CRISPR (a technology that can be used to edit genes), the company plans to develop a practical, working model of de-extinction, with the aim of getting extinct species back to their original habitats so they can revitalize lost ecosystems for a healthier planet.

With a sponsored research agreement, Colossal will carry out research in Church’s lab at Harvard Medical School.

This research aims to create an elephant-mammoth hybrid that will be genetically engineered with traits to help it survive in the Arctic to potentially revitalize the Arctic grasslands.

Additionally, Colossal also has an exclusive license agreement coordinated by the Harvard Office of Technology Development to commercialize the technology developed during the course of the research collaboration with the Church lab.

Apple Discontinues iPhone 12 Pro And iPhone XR

With the launch of the new iPhones, Apple has refined its iPhone lineup and has discontinued the iPhone XR and the iPhone 12 Pro from its lineup.

The iPhone XR and iPhone 12 Pro lineup have been taken off from Apple’s portfolio to make way for the latest iPhone models- iPhone 13, iPhone 13 mini, iPhone 13 Pro, and iPhone 13 Pro Max.

It is customary for Apple to take down previous iPhone models after launching its newer products. This is also because the company is offering the iPhone 13 Pro models at the same prices as the iPhone 12 Pro line.

In addition, the tech giant is offering the standard iPhone 12, iPhone 12 mini, iPhone 11, and iPhone SE models at reduced prices.

After the price cut, the iPhone 11 and 12 models are now being sold at $499 and $599, respectively. The iPhone 13 mini starts at $699, while the standard 6.1-inch iPhone 13 starts at $799. The base model of the iPhone 13 Pro starts at $999 and goes up to $1599 for the iPhone 13 Pro Max 1TB models.

Solana And Arbitrum go Offline, While Ethereum Escapes Attack

One of the emerging rivals of Ethereum, Solana (SOL), has lost about 15% of its values within 24 hours following a denial-of-service outage.

On September 14, the Twitter account Solana Status tweeted, saying that Solana’s mainnet-beta has intermittent instability for 45 minutes.

Hours later, Solana Status elaborated about the issue and said that an increase in transaction load, which peaked at 400,000 TPS, had overwhelmed the network.

However, on September 14, Solana was not the only crypto network to experience downtime. The Ethereum layer-two rollup network Arbitrum One also reported that its sequencer had gone offline for almost 45 minutes.

The downtime of Arbitrum One resulted in new transactions not getting submitted during the period; however, the company has stressed that no user funds were at risk.

In addition to these two issues, Ethereum itself was almost at the receiving end of a hack. An unknown entity tried to attack Ethereum but was unsuccessful. Currently, the situation has been corrected.

China’s Retail Sales Growth Plunged in August

The retail sales in China grew only by 2.5% percent in August 2021 from a year ago as the country is dealing with the outbreak of Covid-19 over the summer months.

This rate of growth is well below the 7 percent forecast by analysts in a Reuters poll and also much lower than the 8.5 percent growth seen in July.

Both the industrial production and fixed-asset investments growth also fell short of expectations in August, hinting at more softening in the economy.

China had contained a late July outbreak of the delta variant by mid-August; however, that containment came at the cost of imposing travel restrictions and local lockdowns in some places during a major portion of the summer holidays.

Currently, China is dealing with an increase of Delta infections in its southeastern province of Fujian, a month after the country restrained the outbreak that began in July.

China’s commitment to a “COVID-zero” policy, or the firmness that even the smallest outbreak triggers mass testing and lockdowns, means any increase in Covid cases poses an economic threat to the country.

Around the Web

⚡ Bitcoin’s power consumption surges in 2021: According to a Bloomberg report, the Bitcoin network was estimated to consume about 67TWh of electricity in 2020, and its total consumption has already surpassed this in 2021. It is also estimated that by the end of the year, the Bitcoin network will have consumed 91 TW/h (terawatt-hours or one trillion watts per hour).

🐠 Glassdoor acquires Fishbowl: In an undisclosed term, employer review website Glassdoor has acquired Fishbowl — an app that gives users an anonymous option also to provide frank employee feedback, as well as join interest-based conversation groups to chat about work and search for jobs.

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