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Monday, Aug 15, 2022

Silicon Beach Report Sept. 6: Otoy Plans to Raise $134 Million via Digital Token Sale

Otoy plans to raise $134 million via digital token sale, Hyperloop Transportation Technologies signs memorandum for system in India and SpaceX poised to launch Air Force X-37B before hurricane hits.

Otoy Plans to Raise $134 Million via Digital Token Sale

Cloud-based graphics rendering company Otoy announced plans to raise as much as $134 million with a digital token sale, reports Variety. The HBO-backed company also recently unveiled a plan to use Blockchain technology for distributed cloud rendering of virtual reality and other video content.

Hyperloop Transportation Technologies Signs Memorandum for System in India

Hyperloop Transportation Technologies has signed a memorandum of understanding with the government of the Indian state of Andhra Pradesh to develop a Hyperloop transportation route between the cities of Amaravati and Vijaywada, reports TechCrunch. The two-phase plan includes first conducting a feasibility study beginning in October, which is expected to last around six months, and then to follow that up with Phase 2, which will be the actual construction of the Hyperloop itself.

SpaceX Poised to Launch Air Force X-37B Before Hurricane Hits

The U.S. Air Force and SpaceX hope to launch the X-37B reusable spaceplane before Hurricane Irma hits Florida, reports Space News. However, officials in Cape Canaveral, Fla. forecast only a 50 percent chance of acceptable weather for Thursday’s launch.

Technology reporter Garrett Reim can be reached at greim@labusinessjournal.com. Follow him on Twitter @garrettreim for the latest in L.A. tech news.


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