Tech:NYC Digest: July 20

Tech:NYC Digest: July 20

July 20, 2023 • Estimated Reading Time: 9 minutes

Thursday, July 20, 2023

In today’s digest, the path to EV adoption in New York, the next legal cannabis rollout, and why the remote work debate is so heated. 

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  • The state Cannabis Control Board approved more than 200 retail licenses, as well as a measure that would temporarily allow the sale of cannabis at “growers showcase” events as officials seek to speed up the rollout of the legal marijuana industry. (Albany Times Union)

    • That includes licenses for 118 applications in NYC: 44 in Brooklyn; 46 in Manhattan; 14 in Queens; five on Staten Island and nine in the Bronx. (Crain’s New York Business)

  • New York City has agreed to pay $13 million to more than a thousand New Yorkers arrested in the summer 2020 George Floyd demonstrations, marking one of the largest settlement agreements with protesters in a class-action suit in US history, according to court records filed late Wednesday. (New York Daily News)

  • An emergency order allowing outdoor dining sheds has been extended again while legislation in the City Council to set permanent rules for outdoor dining waits to come to a vote. (New York Magazine)

In other reading:

Gov. Kathy Hochul announced yesterday a series of initiatives aimed at boosting electric vehicle adoption in New York state, including $15 million dedicated to an existing program to install electric vehicle charging stations at workplaces and multifamily buildings.

  • There are now 150,000 EVs statewide, Hochul said, a number that state officials want to boost to meet emissions reduction goals.  

ICYMI: Tech:NYC president Julie Samuels, along with New York League of Conservation Voters president Julie Tighe, made the case in a new New York Daily News op-ed for public EV charging infrastructure — and why prioritizing NYC’s for-hire vehicle fleet is a great place to start: 

  • Despite more EVs coming to market and thousands in federal and state tax credits available, only 2% of the 1.9 million vehicles registered in New York City are electric.

  • Many New Yorkers who drive are reluctant to switch to an EV because they don’t have an easy way to charge and reliable public charging is sparse to nonexistent.

One possible solution: Incentivize development of charging infrastructure through for-hire vehicles.

  • FHVs drive a lot and therefore need to charge a lot, making them ideal customers for charging stations. 

  • The Taxi & Limousine Commission could issue more For-Hire-Vehicle (FHV) licenses exclusively for EVs, on top of the 1,000 new EV-only licenses it opened up in March (which had so much demand the application window was up for mere minutes before closing).

  • New York's startup is well-positioned to take the lead on this issue. A diverse group of companies already have a footprint in New York — Revel, itselectric, HEVO, Stak Mobility, and Gravity — with charging solutions tailor-made specifically for dense, urban environments.

Bottom line: "By accelerating FHV electrification," Samuels and Tighe wrote, "we can jumpstart our charging infrastructure and turn EVs into a convenience, not a commitment, for all New Yorkers, and show the world what the future of zero-emission mobility looks like."

In other reading:

  • Why the Remote-Work Debate Stays So Heated (The Atlantic)

  • Firms With Flex-Work Policies Are Hiring Faster Than Those Fully In Office (Bloomberg)

  • How to prepare workspaces to cope with climate change conditions (WorkLife)

  • BusRight, a NYC-based school bus technology provider, raised $7 million in Series A funding. Las Olas Venture Capital led the round and was joined by Ubiquity Ventures, Underscore VC, Long Journey Ventures, SilverCircle, Automotive Ventures, Alumni Ventures, CreativeCo Capital, and other angels.

  • Gushwork.ai, a NYC-based tech-enabled administrative services company, raised $2.1m in pre-seed funding. Lightspeed led the round and was joined by B Capital, Sparrow Capital, Seaborne Capital, and Beenext.

  • Isometric, a NYC- and London-based carbon removal registry and science platform, raised $25 million in seed funding. Participating investors include Lowercarbon Capital and Plural.

  • Peppermint, a NYC-based social network for older adults, raised $8 million in seed funding. Participating investors include Primetime Partners and Redesign Health.

  • Torch Dental, a NYC-based dental supply partner for dental practices, raised $28 million in Series B funding. Health Velocity Capital led the round and was joined by Bessemer Venture Partners, FJ Labs, Felicis Ventures, Tectonic Ventures, Raga Partners, Town Hall Ventures, and others.

  • July 26: In-person: Responsible Tech Mixer and Summer Celebration. Hosted by All Tech is Human and Betaworks. Register here.

  • July 27: In-person: No Stupid AI Questions, with Malamute CEO Matt Freed, former Ro head of ML Liz mcQuillan, and New York AI founder Derek Larson. Hosted by Company Ventures and New York AI. Register here.

  • August 2: In-person: AI Tech for Good Pitch Contest, featuring finalists Azul Bio, InterviewMaster, Libbie Health, Pajama Cats Media, and Tilosia. Hosted by Downtown Brooklyn Partnership. Use code TechNYC for a complimentary tickets while supplies last by registering here.

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