Gateway Capital Partners, the venture firm founded by Dana Guthrie, announced the first close for its $25 million target Fund II earlier this week, the Milwaukee-based firm told TechCrunch. Gateway Capital declined to share the exact amount of the first close.

The first close means Fund II can begin its investment operations.

Guthrie said the firm began raising its Fund II in the middle of last year. Fund II’s average check size will be between $500,000 and $600,000.

It will be industry-agnostic, she said, though it will have “a bias toward Midwest industries that are ripe for disruption,” such as supply chain and logistics, and manufacturing AI. Guthrie said she hopes to back at least 20 companies from this fund.

Gateway Capital, launched in 2020, last raised a $13 million Fund I in 2020.

Cayin has officially taken the wraps off the N8iii, its next generation flagship digital audio player (DAP), and this time there is enough real information to move past speculation. The timing matters. Astell&Kern continues to dominate the premium tier with refined hardware and software, FiiO has become far more aggressive at the top end, and iBasso keeps pushing output and modular flexibility. Cayin is no longer competing in a niche it helped create. It is now part of a very crowded field where execution matters more than ambition.

Cayin is positioning the N8iii as a limited release with just 500 units worldwide and a suggested retail price of $3,999, placing it squarely in the upper tier of the DAP market and making it clear this is not intended for a broad audience.

A Flagship That Sticks With Tubes

Cayin is continuing with its hybrid tube and solid state approach. The N8iii introduces a Triple Timbre system with Tube Classic, Tube Modern, and Solid State modes. This is less about novelty and more about giving users different tonal options depending on the headphone and music. Cayin has been consistent here. It is one of the few brands willing to deal with the complexity of tube integration in a portable device, even if that comes with tradeoffs in size, heat, and battery life.

Power Output and Amplifier Design

The N8iii offers up to 900 milliwatts single ended and 1285 milliwatts balanced output, which translates to roughly 0.9 watts and 1.285 watts respectively. That is enough power for a wide range of headphones, including many planar magnetics and most dynamic designs in the portable category. It should not have any issue with efficient or moderately demanding full size headphones.

Where things get less certain is with high impedance dynamic headphones. Models in the 300 to 600 ohm range often require voltage swing as much as current, and Cayin has not provided enough detail yet to determine how the N8iii handles that. It is likely usable, but whether it offers full control and headroom is still an open question.

It is also worth stating the obvious. This is not designed for electrostatic headphones. That requires a completely different amplification approach, and Cayin is not trying to solve that problem here.

Cayin includes triple amplifier modes and dual output modes, which gives users some flexibility in how the player behaves, but it also adds complexity that will need to be justified in real world use.

DAC & Platform

Cayin is moving forward with a new flagship AKM DAC architecture, although full details have not been confirmed. That will appeal to listeners who prefer the AKM presentation, especially after several years where ESS dominated the category.

The N8iii runs on a Snapdragon 665 platform with 8GB of RAM and 256GB of internal storage. That is not cutting edge by smartphone standards, but it is in line with what most high end DAPs are using and should be sufficient for streaming and local playback without performance issues.

Software & Battery

The player uses a customized Android audio system with DTA, allowing SRC bypass for bit perfect playback across supported apps. This is expected at this level and Cayin is in line with the rest of the market here.

Battery capacity is listed at 13,500mAh with PD2.0 fast charging. That is a large battery, which makes sense given the use of tubes and relatively high output power. Actual runtime will depend on how those features are used, and Cayin has not provided estimates yet.

The Competition

At this price and level, Cayin is up against established competition. Astell&Kern offers more polished industrial design and a mature user experience. FiiO is delivering strong performance with competitive pricing. iBasso continues to push output power and modular flexibility. These are complete products that balance sound quality with usability.

Cayin’s approach remains more specialized. The N8iii focuses on offering a different listening experience rather than trying to be the most practical option.

Cayin N8ii vs N8iii: What’s Actually Changed

Looking at the available data, the jump from the N8ii to the N8iii is not about reinventing the concept. Cayin is refining it, adding flexibility, and pushing output a bit further while trying to clean up some of the practical limitations that came with the earlier design.

The N8ii already established the blueprint. Snapdragon 660 platform, 6GB of RAM, 128GB storage, Android 9, ROHM DACs, and dual Nutube implementation. It was powerful for its time, but it also felt like a device that prioritized experimentation over usability. Battery life hovered around 8 to 11 hours depending on mode, the chassis was thick and heavy at around 442 grams, and while the output was respectable, it was not class leading.

On the output side, the N8ii delivered up to 420mW at 16 ohms from the single ended output in standard mode, and up to 720mW in its higher power setting. Balanced output pushed that further to 760mW standard and up to 1200mW in its higher power mode. That translates to roughly 0.76W to 1.2W balanced depending on how hard you push it. In practical terms, it could handle most headphones reasonably well, but it was not the last word in authority, especially with higher impedance dynamics where voltage swing matters more than raw wattage.

The N8iii moves that forward, but not dramatically. Cayin is now quoting up to 900 milliwatts single ended and 1285 milliwatts balanced output, which translates to roughly 0.9 watts and 1.285 watts respectively. That is enough power for a wide range of headphones, including many planar magnetics and most dynamic designs in the portable category. It should not have any issue with efficient or moderately demanding full size headphones.

Where things remain uncertain is with high impedance dynamic headphones. The increase in output is incremental, not transformative, and Cayin has not provided detailed voltage specs yet. That means headphones in the 300 to 600 ohm range may still be usable, but not necessarily driven to their full potential. And just to be clear, neither the N8ii nor the N8iii is designed for electrostatic headphones, so that remains outside the scope entirely.

The more meaningful change is in flexibility. The N8ii gave you tube or solid state. The N8iii expands that into Triple Timbre with Tube Classic, Tube Modern, and Solid State. That suggests Cayin is focusing more on user tuning and adaptability rather than just raw performance gains. It is a shift toward giving listeners more control over presentation depending on the headphone pairing.

Internally, there is also a shift in direction. The N8ii relied on dual ROHM BD34301 DACs, which offered a certain tonal character that some preferred over ESS implementations. The N8iii is moving to a new flagship AKM architecture, which likely signals a different tuning approach. That is not inherently better or worse, but it does indicate Cayin is responding to market preferences and the return of AKM supply.

Platform and usability are also getting a modest update. The N8iii moves to 8GB of RAM and 256GB of storage, along with a Snapdragon 665. That is not cutting edge, but it is an improvement and should make the device feel less constrained with modern streaming apps. The inclusion of a customized Android audio system with SRC bypass brings it in line with what competitors have already been doing, rather than pushing ahead.

Battery is another area where Cayin appears to be compensating for its design choices. The N8ii used a 10,000mAh battery rated at 38Wh and delivered between roughly 8 to 11 hours depending on mode. The N8iii increases that to 13,500mAh and adds PD fast charging. That suggests Cayin is trying to offset the power demands of tubes and higher output rather than fundamentally improving efficiency.

The rest of the design philosophy remains consistent. Both devices are heavy, complex, and not particularly concerned with being pocket friendly. Both are built around the idea that a portable device can approximate a desktop listening experience if you are willing to accept the tradeoffs.

The Bottom Line

The Cayin N8iii builds on what the company has been doing with its flagship line. It keeps the tube hybrid concept, adds more flexibility in tuning, and delivers enough power for most headphones people are likely to use with a portable device. It is not intended to cover every use case. High impedance dynamics may still require more careful matching, and electrostatic headphones are not part of the equation.

At nearly $4,000 USD and with only 500 units available, this is a focused product for a specific audience. The competition is strong and more well rounded than it used to be. Cayin is relying on differentiation and sound tuning to justify its place at the top. Whether that is enough will depend on how it performs outside of the spec sheet.

What the charts from the previous model make clear is how much detail still has not been confirmed for the N8iii. The N8ii offered a very complete set of physical connections including both 3.5mm single ended and 4.4mm balanced headphone outputs, along with matching line outputs on both connections. It also included digital outputs over USB and I2S via a mini HDMI connection, plus coaxial S PDIF. That made it more than just a portable player. It could function as a transport or DAC in a larger system. With the N8iii, Cayin has not yet clarified whether all of those outputs carry over unchanged, or if anything has been added or removed. Given how important that flexibility is to this category, that is not a small omission.

Bluetooth is another area where details matter. The N8ii supported a wide range of codecs including LDAC, UAT, AAC, and SBC, with both transmit and receive capability. That placed it ahead of many competitors at the time, especially with UAT support for higher bandwidth wireless audio. So far, Cayin has not confirmed the codec support for the N8iii. If it remains unchanged, it is still competitive. If it has been updated, that could be a meaningful improvement. If it has been simplified, that would be a step backward. Right now, we simply do not know.

The digital section is where the lack of detail becomes harder to ignore. The N8ii supported PCM up to 32-bit/768kHz and DSD512 over USB and I2S, along with DoP support over coaxial. It could function as a USB DAC across multiple platforms and offered asynchronous USB audio with broad compatibility. Those are not niche features. They are part of what makes a flagship DAP viable as a hub in a desktop or transport based system. Cayin has confirmed a new DAC architecture for the N8iii, but has not yet outlined the full range of supported formats, digital input and output capabilities, or whether its USB DAC functionality has been expanded or refined.

MSRP: $3,999 (launch date not confirmed at en.cayin.cn).

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Google has confirmed that its Pixelsnap Charger receives firmware updates automatically and silently while charging a Pixel phone, with the latest release sitting at version 1.51.0.

Pixel owners can verify their charger’s firmware status by navigating to Settings, then Connected devices, and selecting the charger from the list of paired accessories, giving users a straightforward way to confirm whether their unit is running the most current software.

The updates maintain Qi compatibility and keep the charger performing at its intended standard, with Google framing the silent background update process as a hands-off approach that requires no input from the user during normal charging use.

The automatic update mechanism sets the Pixelsnap Charger apart from the vast majority of wireless chargers on the market, where firmware is either fixed at the factory or requires proprietary software and a PC connection to update, a process that most consumers never attempt.

Everyone’s four favorite anthropomorphic turtles are returning to the world of video games. Teenage Mutant Ninja Turtles: Empire City will be released on April 30 for the Meta Quest, Steam VR and Pico. It is made by VR game company Cortopia Studios and will retail for $25. Empire City is a first-person action game that you’ll be able to play solo or co-op with up to four people. And yes, that means all four of the turtles are playable.

We’ve seen a lot of the quartet flexing their fighting form in games over the years, but this is their first time appearing in a standalone VR title. In addition to the shelled heroes, the first part of the new game’s trailer highlights other familiar figures from the series, such as Karai of the Foot Clan and ripped rhino Rocksteady. And of course April is there providing pizza and intel.

Looking for the most recent Strands answer? Click here for our daily Strands hints, as well as our daily answers and hints for The New York Times Mini Crossword, Wordle, Connections and Connections: Sports Edition puzzles.

Today’s NYT Strands puzzle relies on you having a good knowledge of a certain category of food. Some of the answers are difficult to unscramble, so if you need hints and answers, read on.

I go into depth about the rules for Strands in this story. 

If you’re looking for today’s Wordle, Connections and Mini Crossword answers, you can visit CNET’s NYT puzzle hints page.

Read more: NYT Connections Turns 1: These Are the 5 Toughest Puzzles So Far

Hint for today’s Strands puzzle

Today’s Strands theme is: Smooth(ie) operator

If that doesn’t help you, here’s a clue: Not vegetables.

Clue words to unlock in-game hints

Your goal is to find hidden words that fit the puzzle’s theme. If you’re stuck, find any words you can. Every time you find three words of four letters or more, Strands will reveal one of the theme words. These are the words I used to get those hints but any words of four or more letters that you find will work:

• CLAP, LACE, HEEL, ROLE, PIMP, CALF, TAPE, GAVE, TRAY, AMONG, PINE, REIN

Answers for today’s Strands puzzle

These are the answers that tie into the theme. The goal of the puzzle is to find them all, including the spangram, a theme word that reaches from one side of the puzzle to the other. When you have all of them (I originally thought there were always eight but learned that the number can vary), every letter on the board will be used. Here are the nonspangram answers:

• ACAI, GUAVA, MANGO, PINEAPPLE, LYCHEE, PAPAYA

Today’s Strands spangram

Today’s Strands spangram is TROPICALFRUIT. To find it, look for the T that’s five letters down on the far-left vertical row, and wind across, down, over and up.

Sony Interactive Entertainment, owner of the PlayStation brand, has acquired Cinemersive Labs, a UK startup developing tools to convert 2D photos and videos into 3D volumes. The startup team will join Sony’s Visual Computing Group, a research engineering team focused on graphical technology, including game rendering, video coding and generative AI models.

Cinemersive’s most recent product is a virtual reality app called Parallax that works as a viewer for parallax photos — three-dimensional images that you can peer around with natural head movements — captured using traditional smartphones and professional cameras with stereo lenses. The startup developed custom AI tools to convert 2D images into 3D volumes to make Parallax possible, and Sony apparently wants to apply that expertise to its own projects.

“Following the acquisition, the Cinemersive Labs team will join SIE’s Visual Computing Group (VCG) and contribute to our broader efforts in advancing state of the art visual computing within games,” Sony says. “This includes applying machine learning to enhance gameplay visuals, improve rendering techniques, and unlock new levels of visual fidelity for players.”

Machine learning has been a major focus of Sony’s efforts to improve graphical performance on the PlayStation 5 and future hardware. The PlayStation 5 Pro was designed around a new GPU, faster storage and PlayStation Spectral Super Resolution (PSSR), custom AI upscaling tech that let the console run games at a lower resolution and then upscale them to 4K. The company recently squeezed even more performance out of the Pro with an updated version of PSSR it released in March. And with AMD, Sony is working on Project Amethyst, a multi-pronged collaboration to improve ray tracing and upscaling on the future consoles.