Tech:NYC Digest: December 12

Tech:NYC Digest: December 12

December 12, 2022 • Estimated Reading Time: 7 minutes

Monday, December 12, 2022

Happy Monday! In today’s digest, the seasonal return of the N95 mask, NYC’s alternative holiday markets, and why investors are doubling down on climate tech.

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  • The NYC Dept. of Health issued a new advisory strongly recommending New Yorkers wear masks indoors — offices, stores, public transit, and other shared public spaces — as well as crowded outdoor settings. (NBC New York)

    • The advisory comes amidst an “unusually high concurrent spike” of COVID-19, flu, and other respiratory viruses in the city.

    • New COVID cases in the city have increased by about 55% over the last two weeks, and reported flu cases have jumped 64 percent since Dec. 3.

  • A new financial plan from the MTA would raise base subway fares to just over $3 by 2025 in an effort to face a budget gap caused by lower ridership during the pandemic. (New York Times) The current $2.75 base fare has been in place since 2015.

  • A long-delayed project to convert organic waste into natural gas for heating fuel will launch in Greenpoint next month. The new biogas plant is meant to be a complement to a popular composting program rolled out in Queens earlier this year. (Gothamist)

  • Lastly, The city’s first Hanukkah pop-up pub, Maccabee Bar, arrives in the West Village tomorrow. Learn more here.

In other reading:

  • Winter Illnesses: Here’s How to Reduce Your Risk (New York Times)

  • Shop local with distinction at these NYC alternative holiday markets (Gothamist)

  • New York is the No. 1 ‘Grinchiest’ city in the entire U.S. (Time Out New York)

The threat of climate change is only getting more urgent — and investors are rushing toward what they’re calling a “recession-proof” moment to speed up solutions. (Bloomberg)

What’s new: Union Square Ventures has raised $200 million for its second fund focused on early investments in climate tech startups. (The Information)

  • This fund more than doubles the first climate-dedicated fund the firm announced last year to back early-stage companies responding to the climate crisis.

  • To date, the fund has made 15 investments globally: “We recognize the climate crisis does not have borders,” said USV partner Samson Mesele. They include David Energy, the NYC-based distributed energy provider that helps homes and businesses manage energy supply at the grid level.

The USV thesis reflects a growing consensus in the two-fold role technology can play in climate change: mitigation and adaptation.

  • The thesis asserts that the reduction and removal of emissions — to intervene in the causes of climate change — can and should happen at the same time leaders work on the consequences of climate change.  

What's next: The problem of climate change has generated a more urgent opportunity for the private sector to work with governments to more quickly scale solutions.

  • The Upside Tech Alliance, a recently launched coalition led by New York-founded BlocPower and other startups across the country, is working with local municipal leaders to execute equitable climate policies, among other projects, by adopting flexible utility payments and renovating low-income housing units to reduce energy costs.

In other reading: 

  • Rejoice! Despair! The office holiday party is back in person. (Washington Post)

  • Sprinklr chief talent officer Diane K. Adams: Five predictions for the future of work (Forbes)

  • This is the worst business jargon of 2022 (Fast Company)

  • Rowy, a NYC-based low-code product development platform, raised $3 million in seed funding. Worklife Ventures led the round and was joined by a group of angels. (TechCrunch)

  • Synatic, a NYC-based data integration and automation company, raised $2.5 million in seed extension funding. Participating investors include Allan Gray E-Squared Ventures, UW Ventures, Adansonia PE Opportunities VCC, and the Endeavor Harvest Fund. (FinSMEs)

  • December 13: In-person and virtual: December Fundraising Workshop, with Greycroft partner Ellie Wheeler. Hosted by Silicon Valley Bank. Register here.

  • December 13: In-person: Entrepreneurs and the New Tech Frontier, Techstars NYC managing director Gary Stewart, 82VS president Trier Bryant, givepact co-founder and CEO Alicia Cepeda Maule, and more. Hosted by the Center for Urban Professionals. Register here. 

  • December 15: In-person: Hardware Holiday Party, a casual gathering to celebrate the NYC hardware community. Hosted by Newlab, informal, and NY Hardware Meetup. Register here.

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