$175 Million Funded To Techs Solving Social Issues Like Global Warming, Urbanization – Market News Store

$175 Million Funded To Techs Solving Social Issues Like Global Warming, Urbanization

The co-founder of Google Capital Scott Tierney will be launching a brand new fund worth $175 million. He hopes to use technology for fixing societal issues. A significant number of these issues have been augmented by technology.

This new fund will fall under Tierney’# venture firm called Valo Ventures. It will further include partners such as Julia Brady and Mona EINaggar. The fund will focus on trends like autonomy, work future and user rights. This will mark the first fund of the firm since the launch of Valo last year. This fund has come during a steady rise in investments into corporate responsibility along with concerns of tech companies having compromised on the welfare of user for greater revenue.

Speaking to CNBC, Tierney talked about their aim to utilize the inventions of Google, Amazon, Facebook and Silicon Valley in the physical world. Their philosophy is shaped by their vision of exploiting these technologies by increasing their availability to different industries.

Last summer, before launching Valo, marked seven years of service for Tierney at Google. He had co-founded the venture arm at the growth stage known as CapitalG, formerly called Google Capital. He had also been the corporate development and strategy lead at Google Nest and Fiber Labs.

The partners of Valo Ventures have given investment area examples that they’d be willing to fund. These include technology enabling user collaboration belonging to marginalized communities, diversity and artificial intelligence. All these zones have been cast aside within and by giant tech companies such as Facebook and Google.

However, Tierney holds Google as well as its leadership in high regard. He has said that he doesn’t focus too much on the negative impact of technology on the society. Tierney also termed technology as amoral and emphasized on the importance of the kind of people using it and the method of building it in deciding the level of compromise of users.

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