Taiwan blocks Grab's $600 million Foodpanda acquisition
The Fair Trade Commission said the proposed transaction's economic benefits did not outweigh the harm to competition.
Mach9 raises $34 million after shift to AI design software
First Round Capital and Bessemer Venture Partners co-led the Series A round, with Prudence and existing investor Quiet Capital also participating.
Mach9 announced $34 million in Series A financing to develop its AI-powered computer-aided design software, following a shift away from hardware for civil engineering inspections. Co-founder Alex Baikovitz said the money will support product improvements, hiring industry experts and expansion across the organization.
The startup has attracted nearly 100 customers to its private software beta, with usage spanning more than 2,500 projects. First Round Capital and Bessemer Venture Partners jointly led the financing, alongside participation from Prudence and existing backer Quiet Capital.
Baikovitz co-founded the business as Mach9 Robotics in 2021. After developing inspection hardware, he concluded that customers faced a bigger problem converting laser scans and images into surveys engineers could use for design work. The company subsequently dropped Robotics from its name and concentrated on software.
Its system generates an initial plan from survey data, allowing engineers to edit the output and check the AI model's quality. Mach9 says automation makes the process 10 times faster while cutting costs.
Baikovitz said the company built and trained its own AI models to meet the centimeter-level accuracy required for construction and infrastructure projects. He said licensed professionals remain responsible for reviewing the resulting work because of the industry's liability requirements.