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VCs seek a ride on the defence bandwagon

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Nobody loves a good bandwagon like a venture capitalist. Among European start-up investors, “resilience” and “sovereign” tech are giving even artificial intelligence a run for its money as the hottest new buzzwords.

Led by Germany’s Helsing, which pulled in another €600mn in a fundraising led by Spotify co-founder Daniel Ek’s investment group last month, defence tech companies making drones, submarines and other battlefield systems have taken the place once occupied by e-scooters, grocery apps and the metaverse in investors’ hearts.

Many European VCs, who might ordinarily be found backing fintech or human resources software companies, say they now feel energised by a higher mission: helping defend the continent’s borders.

That new sense of purpose was evident on the sunny lawns of Soho Farmhouse last month, as the great and good of Europe’s tech industry drank fizz and munched Fortnum & Mason sausage rolls at Founders Forum Global, British tech stalwart Brent Hoberman’s annual tech gathering.

Just a year earlier, Europeans had been wallowing in a collective failure to come up with world-conquering artificial intelligence start-ups to rival those in the US and China amid a post-pandemic funding slump for early-stage companies. Last year’s State of European Tech report by venture firm Atomico found that 40 per cent of founders felt “less optimistic” about the local industry’s future than the prior year.

However, the vibe shift this year was enough to give some Founders Forum attendees whiplash. Many of those tramping around the manicured fields seemed “giddy” with excitement about drones, said one wide-eyed Euro tech veteran. “Defence tech is the new crypto,” quipped another investor, with a queasy smile.

The investment case is certainly convincing. Military spending in Europe (including Russia) rose by 17 per cent to $693bn last year, according to the Stockholm International Peace Research Institute, and many countries are pledging to divert a growing portion of their defence budget to innovators.

VC funding in European defence and security tech rose 24 per cent last year to $5.2bn, according to the Nato Innovation Fund and research group Dealroom, and the number is tracking even higher so far this year.  

But as they pile into a new generation of arms manufacturers and their AI enablers, some tech investors still seem detached from the reality of what they are financing. “Product-market fit” means something quite different on the battlefield. The MBA crowd has switched all too seamlessly from talking about CAC (customer acquisition cost) and CPC (cost per click) to a rather different measure of efficiency: CPK, or cost per kill. 

Talking about this area is hard. Should the tech community celebrate a huge jump in valuation for a company that is benefiting from a deterioration in global security in the same way that it did an online videoconferencing start-up during the pandemic? Striking the right tone is a work in progress but hiding behind acronyms and euphemisms does not seem sustainable. 

Some VCs maintain that they only invest in “dual use” technologies, perhaps to convince themselves — or their investors — that those drones might also be useful away from the front lines. Many investors have tight rules around backing so-called “kinetic” or offensive applications.

Even as capital floods into Europe’s multiplying defence tech start-ups, there is still a shortfall when it comes to investing in weapons and munitions, says Mikolaj Firlej, a co-founder and general partner of Expeditions Fund, a venture capital firm based in Poland that focuses on European security. 

“Starting from nothing, obviously there is a big jump” in defence tech investment, he says. “But we are still at the early stages of re-industrialisation . . . There is so much to be done.” 

One Founders Forum panel jolted attendees back to the reality of war by describing how Russian forces identified Ukrainian targets by tracking the paths of large groups of rodents, whose population has surged in the trenches on the front lines. 

Khaled Helioui, a partner at VC firm Plural and an early Helsing investor, says this is no time to be squeamish. “Some investors argue that they don’t invest in things that kill people,” he says. “I wish we had that luxury . . . We cannot afford to be naive anymore. It [war] is happening at our doorstep right now.” 

tim.bradshaw@ft.com



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Olive Living: India’s Intelligent, Community-Centric Hospitality Powerhouse

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In a country where hospitality often chases scale over soul, Olive Living is rewriting the playbook. With a tech-first approach, deep emphasis on community living and an aggressive growth plan, Olive is redefining what it means to live, work and travel smart.

Scale by the Numbers: Properties, Keys & Cities

Olive Living currently operates 55 properties with 2,688 keys, spread across India’s top urban hubs. The next leg of expansion is already underway scaling to 65 locations and 3,000 keys across five major cities.

But this is just the beginning.

By 2030, the brand aims to operate 100,000 keys, with an intelligent portfolio mix 30% owned and operated and 70% franchised or partner-driven. It’s not just ambition. It’s structured, scalable ambition.

From Hotels to Hybrid Lifestyle Ecosystems

Olive Living isn’t simply running hotels—it’s crafting ecosystems. The brand caters to a growing segment of modern Indians and global citizens who seek more than a room; they want modular homes, shared experiences, and a sense of belonging.

Whether you’re a student, digital nomad, startup founder or relocating executive, Olive positions itself as the urban habitat of choice offering everything from short stays to long-term leases, all designed for seamless transitions between work, life and travel.

AI-First: The Fully Remote-Operated “Open Hotel”

What makes Olive truly future-forward is its AI-powered, contactless operating system. From check-ins to guest support, maintenance logs to security protocols, Olive’s “Open Hotel” model ensures efficiency without compromise reducing operational costs while enhancing guest autonomy.

Every property is fully IoT-enabled, run by minimal staff on the ground and optimized in real-time by backend AI systems. The result? Hyper-efficient, scalable hospitality with consistency across locations and zero dilution of experience.

Luxury Belongs to the Community

At Olive, luxury isn’t defined by chandeliers or five-star labels. It’s about shared kitchens with gourmet appliances, community lounges that spark conversations, cinema corners, co-working zones, and tech-enabled wellness spaces. Here, human connection is a feature, not a side effect.

The brand champions collective luxury spaces that feel both personal and social. It’s a calibrated response to a post-pandemic world craving connection, without compromise on privacy.

Asset-Light. Ambition-Heavy.

The growth model is lean, fast, and capital-efficient. Olive’s asset-light strategy allows it to partner with real estate developers, hotel owners and landowners to rapidly scale without massive CAPEX.

Its revenue stack is multi-layered room rentals, co-living memberships, F&B activations, branded events and more. The goal: monetize the square foot beyond the nightly rate.

Digital Nomads as VIPs

India’s emerging remote work class isn’t being ignored. Olive Living is among the first hospitality brands to treat digital nomads and hybrid professionals as high-value guests, offering flexible leases, enterprise tie-ups, and fully-furnished plug-and-play living.

The message is clear: You don’t have to compromise lifestyle for mobility.

Looking Ahead: Cities, Keys & Scale

The roadmap is laser-focused:

  • Deepening presence in India’s Tier 1 and Tier 2 cities
  • Exploring international urban nodes where Indian professionals migrate
  • Scaling from 3,000 to 100,000 keys with ecosystem partners
  • Leveraging AI to enhance personalization and profitability per square foot

This is no longer about hospitality. It’s about building the infrastructure for modern urban living.

Olive Living isn’t just expanding—it’s reimagining hospitality economics and ethos. With AI efficiency, modular living, and community at its core, it’s carving a future where hospitality blends seamlessly with life.

If Olive maintains this momentum—increasing cities, properties, and keys while maintaining soul it’s not just an Indian co-living brand. It’s poised to become a global lifestyle hospitality icon built for the era, by the era.

Explore more at: www.oliveliving.com

Disclosure: The author has no direct affiliation with Olive Living, nor does this article include any sponsored content or promotional material. The opinions expressed in this article are based on publicly available information and are intended to provide an objective overview of Olive Living and its services.

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When Trouble Calls, Virginia Beach, Va., Lets AI Answer

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When someone calls 911, every second matters. But what about the thousands of interactions that aren’t true emergencies? A new AI tool is helping Virginia Beach, Va., manage those calls, giving dispatchers the breathing room they need to focus on life-or-death situations.

That shift is happening through the city’s use of Amazon Connect, bringing artificial intelligence and natural language processing into the nonemergency call workflow to help modernize how public safety communications are handled. The change essentially came from necessity, as high call volumes and a smaller workforce pushed the municipality’s Emergency Communications and Citizen Services Department to find innovative ways to manage increasing demand.

“We actually process more nonemergency calls per year,” Jada Lee, director for Emergency Communications and Citizen Services at Virginia Beach, said. “The same people in my department that process 911 calls on a daily basis are also responsible for processing 5,000 nonemergency calls.”


Instead of tying up 911-trained dispatchers with routine questions or ambiguous calls, the city’s 10-digit nonemergency number now routes through Amazon Connect. Callers are greeted with prompts, including a high-priority transfer option for true emergencies. From there, they speak naturally to explain their reason for calling.

“The Amazon Connect system can then translate those stated intents into specific workflows that we’ve configured inside of Connect,” Josh Nelson, Virginia Beach IT solutions manager, said. “It will either transfer the call to a queue, provide more information, send a text message, or it will transfer them to another city department that’s more appropriate.”

Since its implementation in April 2024, the technology’s impact on the department has been hard to miss. In an average month, the solution either completely handles nearly half of incoming calls to Amazon Connect, transfers them to the appropriate city department, or otherwise diverts them from 911 center agents. In actual numbers, that accounts for 44 to 45 percent of calls.

“When you look year over year, that translates to thousands fewer calls for live agents based on your average call duration, which works out to over 900 hours of continuous talk time,” he said. “That’s just April to December 2023 versus April to December 2024.”

The measurable impact on call volume had a noticeable effect on the day-to-day environment in the communications center. With fewer nonemergency calls interrupting the workflow, morale improved as the pressure of growing queues eased — so it was not surprising, department leaders said, that staff buy-in came quickly.

“They were extremely excited about not having to spend as much time processing nonemergency calls,” Lee said. “Those calls typically take longer, and our staff gets very anxious when they see the 911 queue start to build.”

To make the initial transition to Amazon Connect smooth, clear communication with the public was essential, especially to address early misconceptions. Before launch, the team worked to inform residents on how it worked, and what it would and wouldn’t do. That outreach helped ease concerns and build trust in the technology.

Residents, Nelson said, have responded well, especially when it comes to wait times and convenience. The central benefit to the public, he said, is that they’re not stuck in a queue waiting for a live person to tell them something that they could have obtained in other ways.

Buoyed by the system’s success, Virginia Beach is already planning to expand. Their team, Nelson says, has identified several other workflows and use cases and is looking into more, specifically potential integrations with 311 and the city’s Salesforce customer relationship management. Future use cases could focus on anything from towed vehicle inquiries to seasonal high-volume scenarios like fireworks complaints on July Fourth.

But while automation is making a difference in handling nonemergency calls, the goal isn’t to entirely replace humans in safety communications.

“We’re not trying to keep people from speaking to an agent,” Nelson said. “We make it very easy for people to get through to a live person, but we’re saving callers’ time.”

Finding the right mix of technology and the personal touch was part of the challenge, and not everyone was on board right away. For Lee, bringing AI into the picture wasn’t something she initially planned or expected. The director had some doubts early on about whether automation might make the experience feel too cold or impersonal to callers.

“I never thought that I would say, ‘yes, I want AI in my center,’” she said. “But people today, if they don’t have to talk to an actual person and they can have their needs met, then that’s what they prefer to do.”

And in a field grappling with national staffing shortages, Lee said she now sees this kind of technology as essential.

“Dispatch centers across the country are going to begin really looking at how they can use technology software to assist them in creating additional efficiencies in their day-to-day operations,” she said. “If someone is having a true emergency, yes, they want a human being on the other end of the phone. But in other areas, AI is definitely going to help.”





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PR News | Why the Media, Influencers and Brands Flocked to Substack

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Laura Davidson (L) and Dana Curatolo co-authored this article.

Everyone seems to be launching a newsletter these days. What began a couple of years ago as a wave of respected journalists creating Substack newsletters to connect directly with PR professionals has evolved into something much broader. In 2025, we’re seeing not just media insiders, but also top-tier travel influencers, new tastemakers, luxury hotel brands and even private jet companies leveraging Substack as a direct channel to speak to their audiences.

This surge is more than a trend—it signals a fundamental shift in how brands build community, shape narrative and stay top-of-mind in an increasingly fragmented media landscape.

Substack is no longer a niche media tool. It has emerged as a powerful content platform for curated storytelling, cultural perspective and brand intimacy—especially in the luxury travel space, where experience and emotion drive engagement. According to Business Insider, and with more than 35 million active subscriptions and two million paid, Substack offers unparalleled reach and loyalty. Open rates often triple those of traditional social media platforms, making it a compelling channel for thoughtful, long-form engagement with audiences who want to hear from you.

In the past, luxury travel brands relied almost exclusively on leading traditional print and digital outlets like Condé Nast Traveler, Robb Report and Travel + Leisure to tell their stories. These glossy features still hold immense sway—and we love working with them—but as editorial teams streamline and legacy titles narrow their focus, many PR professionals are looking elsewhere to round out their media mix.

Newsletters like those on Substack offer an elegant solution: a direct-to-inbox format with a highly engaged and often loyal readership. It’s not just about eyeballs—it’s about intent. When someone subscribes to a newsletter, they’re actively choosing to invite that voice into their daily or weekly rhythm. That kind of permission-based content is gold in a world of dwindling attention spans.

Notably, travel journalists and editors are leading the charge. Writers like Yolanda Edwards (a Substack veteran), Sarah Khan, Laura Itzkowitz and more—are carving out spaces to share deeper, more personal travel commentary—often with greater freedom and editorial richness than traditional outlets allow. Whether they’re writing about under-the-radar design hotels in Italy or reflecting on the future of luxury hospitality, the tone is thoughtful, refined and often more honest than a glossy spread permits.

It’s not just journalists. Influential voices in fashion, design, hospitality and culture are also finding new creative freedom on the platform. Claudia Williams writes about style and aesthetics in a way that interweaves her global travel experiences and with a sensibility that resonates with culinary insiders and brand marketers alike.

And the brands themselves are catching on. Luxury hotels, airlines, cruise lines and private travel providers are beginning to use the platform either directly or through collaborations to deepen connections with their most discerning guests. Where once a property might have relied solely on third-party media validation, today they’re commissioning bespoke newsletter content, partnering with newsletter authors on immersive press trips, or even quietly launching branded newsletters of their own—disguised as editorial-first platforms.

Substack newsletters are uniquely effective at driving not just awareness but meaningful engagement. Unlike the often-broad appeal of a magazine feature, a well-crafted newsletter post can prompt direct action—whether it’s bookings, inquiries, or being shared within trusted circles. With a tone that’s more personal and authentic, newsletters resonate with today’s luxury consumers who engage with content selectively, thoughtfully and on their own terms.

So, where is this all going?

What’s next for this space is an exciting evolution of platform diversity and community-first storytelling. We’re seeing new players like The Window Seat by Tori Simokov emerge—blending highly curated travel content with authentic cultural perspective and an editorial voice that resonates with a younger, experience-driven luxury traveler. Tori, a seasoned creative and travel strategist, launched The Window Seat as a Substack dedicated to exploring travel through the lens of storytelling, design and discovery.

We recently hosted her at Park Hyatt New York to experience the new Petrossian tasting experience—an elevated, caviar-forward concept for both guests and locals. The resulting coverage was elegant and personal. It translated to increased awareness and conversation around the initiative among a smaller but highly engaged collective of affluent New Yorkers and global tastemakers passing through the city. The power of that post wasn’t in reach, but in relevance.

This is the kind of storytelling PR professionals should be paying attention to. It’s not about replacing traditional media—it’s about expanding the toolkit. Substack isn’t just another platform to pitch. It’s a space to build relationships, invest in voices that align with your brand’s values and experiment with new formats and collaborations that feel distinctly modern.

What’s especially notable is that these newsletters are being read by the exact audience luxury travel brands want to reach: curious, discerning, culturally plugged-in readers who value quality over quantity. And in many cases, they’re being forwarded, shared and discussed far beyond their initial inbox delivery.

For brands, this presents an opportunity to think more holistically about media strategy. Rather than chasing shrinking column inches or vying for viral moments on social, why not invest in depth, trust and intentionality? Partnering with newsletter authors—whether through experiences, collaborations, or content swaps—can yield long-tail results that extend well beyond a single feature.

In an era where consumers are increasingly skeptical of advertising and overwhelmed by content, newsletters represent a refreshing return to slow media. And in the luxury travel space, where trust, aspiration and emotional connection are everything, that’s an opportunity too powerful to ignore.

***

Laura Davidson is CEO and Founder of LDPR. Dana Curatolo is Senior Vice President at LDPR.



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