In the fast-paced world of logistics, where fulfillment centers, manufacturers, and distributors compete to deliver speed and precision, keeping track of inventory is paramount. Yet, misplaced or lost inventory remains a widespread challenge in warehouses globally.

Corvus Robotics is tackling this issue with a groundbreaking inventory management platform powered by autonomous drones. These drones can scan towering rows of pallets around the clock, even in unlit warehouses, enabling human workers to gain an unparalleled view of their inventory.

“Most warehouses conduct inventory checks twice a year. We enable them to do it weekly—or even faster,” says Corvus co-founder and CTO Mohammed Kabir ’21. “This dramatically improves operational efficiency.”

Transforming Inventory Management

Corvus drones are already helping distributors, manufacturers, logistics providers, and grocers enhance warehouse efficiency and speed. Unlike traditional methods, which rely on manual scanning and outdated systems, Corvus drones bring precision and automation.

Their secret lies in advanced technology. Corvus has developed a drone platform that operates autonomously, even in GPS-denied environments with weak Wi-Fi. Using cameras and neural networks, these drones navigate complex warehouse spaces with ease, offering a new standard of accuracy in inventory tracking.

The Origins of Corvus Robotics

Mohammed Kabir’s fascination with drones began at age 14, long before the drone industry took off. In 2017, during his time at MIT, Kabir connected with Jackie Wu, a Northwestern University student. Wu had been impressed by Kabir’s open-source drone navigation work, and together, they envisioned a startup using drones for inventory management.

Kabir juggled his studies in MIT’s Department of Aeronautics and Astronautics while developing Corvus’ technology. Initial attempts involved modifying off-the-shelf drones, but Kabir soon realized they needed to build drones from the ground up to achieve full autonomy.

From his dorm at Simmons Hall, Kabir built the first prototype, testing each iteration in the field outside. “We’d build drones, test their flight, and then develop autonomy systems to refine their capabilities,” Kabir recalls.

Corvus soon gained traction, completing pilot programs with clients like MSI, a building materials distributor. MSI now relies on Corvus drones daily across multiple facilities.

The Corvus One Drone

The Corvus One, heralded as the world’s first fully autonomous warehouse inventory management drone, features 14 cameras and an AI system for barcode scanning and product location tracking. Its collected data integrates seamlessly with warehouse management systems, flagging discrepancies and suggesting resolutions.

Corvus offers a user-friendly interface, enabling customers to designate no-fly zones, customize flight patterns, and automate schedules. The setup process is quick—drones require just a week to become operational in a 1-million-square-foot facility.

“Our drones require no additional infrastructure like stickers, reflectors, or beacons,” Kabir explains. “We call this infrastructure-free autonomy, and it sets us apart.”

From Forklifts to Autonomous Drones

Traditionally, inventory management involves workers using forklifts or scissor lifts to scan barcodes manually—a slow and error-prone process that can disrupt warehouse operations. Corvus eliminates these inefficiencies by integrating inventory management systems into a unified, automated workflow.

“Our drones operate safely around people and forklifts, without interrupting operations,” says Kabir. “This system is built with the customer’s workflow in mind.”

Expanding the Vision

While Corvus drones have redefined inventory management, Kabir and his team aim to solve broader warehouse challenges, such as tracking items before they reach storage racks.

“Drones address part of the problem,” Kabir notes. “Products often get lost between arriving at the warehouse and being shelved. They’re mislabeled, misplaced, or disappear. Our vision is to fix that.”

With its pioneering technology and ambitious goals, Corvus Robotics is transforming the way warehouses operate, setting a new standard for efficiency and accuracy in inventory management.

Since cryptocurrency investing is still a relatively new field, many people may find it overwhelming to navigate the intricacies of the industry. But as the cryptocurrency sector makes a significant comeback in 2024, more people—including those who were previously dubious—are becoming interested in it. Many people now take digital assets more seriously as a component of an investing portfolio, which is indicative of a change in how people view them.

It’s critical to approach cryptocurrency investments carefully and strategically in light of this expanding trend. Because of the market’s volatility and particular difficulties, meticulous planning is necessary to reduce risks and optimize possible rewards. Here are some essential guidelines to follow before making a bitcoin investment to get you started.

1. Learn the fundamentals of cryptocurrency

Gaining a basic grasp of the fundamental ideas underlying this digital economy is essential before making any bitcoin investments. For example, an important place to start is by understanding that Bitcoin is the first and most well-known cryptocurrency. The process of creating Bitcoin, known as mining, entails resolving challenging mathematical puzzles in order to verify and protect transactions on a decentralized digital network. Understanding blockchain technology, which forms the foundation of the majority of cryptocurrencies, is equally crucial. It will be easier to see why cryptocurrencies like Bitcoin and Ether are regarded as revolutionary if you understand how blockchain operates.

These fundamentals provide a starting point for more securely navigating the cryptocurrency market and making wise investing choices.

2. Read the news and stay informed

As the world of cryptocurrencies changes at a never-before-seen rate, authorities’ approaches to crypto legislation are also changing dramatically. Once pervasive, mistrust regarding cryptocurrencies is progressively waning as digital assets are more incorporated into traditional banking and business. Because regulatory changes can have a significant impact on the market, this increased acceptance emphasizes how important it is to be informed.

At the same time, hundreds of new cryptocurrencies have been created as a result of the cryptocurrency industry’s explosive growth. But not all of these have strong bases; a lot of them are overhyped and unsustainable in the long run. Avoiding potential problems requires being able to distinguish between ideas that are motivated by speculation and those that are truly creative and sustainable. You may arm yourself with the knowledge required to make wise investing decisions by closely monitoring market movements, regulatory changes, and new trends.

3. Select the appropriate cryptocurrency wallet

Unlike conventional investments like cash, bank accounts, or tangible assets like jewelry, which can be kept in familiar and tactile ways, cryptocurrency is not. Rather, cryptocurrency necessitates a special kind of storage: a cryptocurrency wallet. These wallets are electronic devices made especially to safely store and handle your cryptocurrency.

A critical first step in your investing adventure is figuring out what kind of cryptocurrency wallet is best for you. There are many different types of cryptocurrency wallets, and each one has unique features and security levels. When selecting a cryptocurrency wallet, you must take into account a number of factors that impact its security and compatibility, such as whether you want it to be hot or cold, custodial or non-custodial.

4. Choose the best cryptocurrency buying platform

As cryptocurrencies gain popularity, many platforms increasingly advertise that they allow users to purchase Bitcoin and other cryptocurrencies. These platforms aren’t all authentic, though. Unwanted emails, texts, or haphazard posts on social media are common ways for scams to appear, enticing gullible people with claims of simple cryptocurrency purchases or assured refunds.

It’s crucial to be cautious and do extensive research before investing your money in any site. A substantial financial loss could arise from falling for a fraudulent platform, as not all of them are trustworthy or safe. In the US, reputable cryptocurrency exchanges like Coinbase (COIN) and Kraken are regarded as trustworthy choices for cryptocurrency holding, trading, and purchases.

5. Crypto can be purchased for $10

The idea that you need to buy all of Bitcoin or any other cryptocurrency to get started is a widespread fallacy among those who are new to the world of cryptocurrencies. This is just untrue. Cryptocurrencies are accessible to investors with different budgets since they are easily divisible, allowing you to purchase fractions of a currency. Bitcoin can be purchased for as little as $50. Fractional purchases are also possible with numerous other cryptocurrencies, some of which start at just $10.

One of the factors contributing to the popularity of cryptocurrencies is their adaptability. By lowering the entry barrier, it allows people to invest based on their financial situation rather than feeling pressured to buy an entire coin. A perfectly acceptable and sensible way to get into the market is to purchase a percentage of a cryptocurrency, regardless of your beginning capital or portfolio diversification goals.

6. You don’t have to buy Bitcoin or cryptocurrency to invest in it

Investing in cryptocurrencies has grown in popularity as a way to create income and secure long-term financial stability. However, outright purchasing and selling isn’t always necessary to make money with cryptocurrency. It’s important to note that there are other ways to have exposure to this dynamic asset class without the hassles of direct ownership, such as crypto ETFs, options, crypto stocks, etc., for people who are worried about holding or directly owning Bitcoin.

7. Only make investments you can afford to lose

Cryptocurrency is still a very volatile asset class in spite of its novel features and special status as a financial instrument. Investing only money you can afford to lose is a basic rule. Should the worst happen, like a market meltdown or an unanticipated change in regulations, you should be ready to lose all of your money. Generally speaking, you shouldn’t put more than 5% of your entire financial portfolio into cryptocurrency. This strategy reduces risk to your overall financial well-being while enabling you to take advantage of any growth.

8. Don’t fall for any arbitrary cryptocurrency

There are already over 10,000 distinct cryptocurrencies on the market, which has expanded rapidly. These cryptocurrencies are not all created equal, though. Many of them lack substance and are largely motivated by speculation, but some have solid foundations and real-world applications.

For example, cryptocurrencies known as memecoins, which are usually made as jokes or based on online trends, frequently see fast price increases driven by investor concentration and social media buzz. These coins are infamously volatile and can fall just as soon as they climb, leaving latecomers with a sizable loss, even if they may provide momentary enthusiasm.

The safest course of action for novices is to concentrate on well-known, significant cryptocurrencies with track histories and practical uses. Cryptocurrencies with strong ecosystems, active developer communities, and widespread recognition include Bitcoin, Ether, and Solana. These assets are regarded as the cornerstone of the cryptocurrency ecosystem and are less vulnerable to severe volatility than smaller, speculative tokens.

9. Learn how to handle FUD and FOMO

The market for cryptocurrencies is notoriously volatile, which can cause investors to experience strong emotional reactions. Many people suffer from FOMO, or the fear of missing out, when prices rise, which causes them to rashly buy into the buzz. On the other hand, FUD—fear, uncertainty, and doubt—can arise during market downturns, leading to panic and hasty selling choices.

It’s critical to understand that effective investment involves taking a long-term, strategic strategy rather than emotionally responding to transient market fluctuations. In order to avoid overextending oneself by buying a plethora of cryptocurrencies during a bull run, discipline is essential. Likewise, avoid the temptation to sell out of fear when the market has a significant decline.

10. Additionally, there are always some exceptions

The cryptocurrency space is always changing, taking new paths as it develops and adjusts. There are exceptions to the rule that most cryptocurrencies, especially memecoins, are mostly driven by trends, speculation, and pump-and-dump operations. Consider Dogecoin. Despite being a joke at first, it surprised everyone by ranking among the top 10 cryptocurrencies by market capitalization because of its vibrant community and expanding usefulness.

Likewise, cryptocurrency trading platforms and exchanges are a vital component of the ecosystem. It is usually advised to trade on reputable cryptocurrency platforms because they provide more functionality and dependability. This does not, however, automatically imply that your money will be secure.

FTX, which was formerly regarded as a top cryptocurrency exchange, is among the most striking examples of this. Millions of users trusted FTX, and its founder, Sam Bankman-Fried, was praised as a crypto genius. However, it was eventually discovered that the business had engaged in extensive fraud, which led to one of the worst financial scandals in history. The demise of FTX was a sobering reminder that even platforms that appear to be trustworthy can go down, highlighting the significance of careful research and prudent investing.

As the cryptocurrency market expands, it is critical for investors to maintain vigilance and acknowledge that there can always be some unusual circumstances.

In a recent financial filing, the OpenAI Startup Fund, the company’s early-stage AI investor, revealed that it has raised more than $44 million for its fifth Special Purpose Vehicle (SPV), which is the largest one to date.

The Fund was established in 2021 and has a unique structure. Despite claiming that OpenAI is not an investor, it uses the OpenAI name. According to its website, it has raised funds from outside LPs, including Microsoft, a significant OpenAI sponsor, and “other OpenAI partners,” after being legally controlled by OpenAI cofounder and CEO Sam Altman at first. Earlier this year, Altman relinquished legal control to Ian Hathaway, his general partner.

VCs usually employ SPVs to invest outside of their primary fund and aggregate investor funds. The fund, however, has not disclosed the precise purpose of these monies.

This SPV “will be used to support a variety of existing portfolio companies and to make new investments,” an OpenAI representative told TechCrunch.

“SPVs allow us to allocate capital to high-potential investments opportunistically.”

This year, the fund, which was established in 2021, has disclosed five different vehicles totaling $114.2 million, continuing its impressive SPV streak:

Its website is minimal, with its most current news being published a year ago, despite the bustle of activity. The website only lists a small number of its investments, such as the AI note-taking software Mem and the legal AI business Harvey.

But contrary to what its website suggests, the fund is more active. Thrive Health, an AI health venture involving Sam Altman and Ariana Huffington, and the warm outbound business Unify are noteworthy investments this year.

Due to its AI code assistant Cursor, Anysphere is presently engaged in a VC bidding war, and the fund is also a seed investor in the company.

The Fund’s initial capital of $175.25 million, which was raised back in October 2021, is the sum of all these SPVs.