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Crypto

a16z-backed crypto startup Entropy to shut down, return funds

Crypto startup Entropy will close after four years and return invested funds, Cointelegraph reported on Jan. 26 local time. The company, which developed a crypto automation platform, said it decided to shut down after failing to find a scalable business model. CEO Tux Pacific said Entropy would wind up operations and return capital to investors. Entropy began in late 2021 as a decentralised asset custody solution and raised $25 million in seed funding.

Industry

MOTIE to provide record 268.5 billion won for industrial innovation infrastructure projects

South Korea's Ministry of Trade, Industry and Energy said it will invest a record 268.5 billion won this year in its industrial innovation infrastructure programme, up 11.5 percent from last year. The programme supports equipment for testing, evaluation, certification, demonstration and testbeds. The ministry plans to select 28 new projects and allocate 11.2 billion won, about 40 percent of new funding, to AI infrastructure. It will also require shared research spaces in advanced technology fields.

AI & Enterprise

TelePIX passes technical review, steps up IPO preparations for second half

TelePIX, a space AI integrated solutions company, said on Jan. 26 it passed a technical evaluation required for a technology-special listing and has begun preparations for an IPO, targeting a KOSDAQ listing in the second half. The company said it was assessed as having high technical completeness and business scalability based on satellite-AI convergence technology. It said its GPU-based onboard AI processor has operated in orbit for about 17 months since August 2024.