Camber Creek Raised more than $425 Million in New Capital Over the Past Year and Expanded Its Strategic LP Network to Over 300 of the Leading Global Real Estate Groups, Building on the Firm’s Ability to Identify Category-Defining Companies And Drive Investor Returns

WASHINGTON, Feb. 15, 2023 — Camber Creek, a global financial platform focused on driving innovation in the real estate industry, announced that it exceeded its target for Opportunity Fund I with capital commitments of over $100 million. In 2022, Camber Creek closed its fourth core venture fund, which it oversubscribed with $325 million in capital commitments. The Opportunity Fund, whose Limited Partners include existing and new institutional and strategic investors, gives the firm an opportunity to retain its pro rata on earlier investments as well as invest in opportunities unique to the current market environment.

Camber Creek now has over 300 strategic Limited Partners representing leading global real estate owners, operators, and service providers. Camber Creek invests in leading proptech companies, including Arcadia, Bilt Rewards, Curbio, Flex, HappyCo, Measurbl, Notarize, and VTS.

“The current market environment is providing some exciting investment opportunities at attractive valuations,” said Jake Fingert, a Partner at Camber Creek. “Our exceptional brand with founders, strong track record in the proptech space, focus on adding value, and deep pipeline put us in a position to capitalize for our investors on today’s market.”

Over the past year, Camber Creek has had several successful exits for its Limited Partners, including selling TaskEasy to WorkWave and Building Engines to JLL.

“We are tremendously grateful for the continued support from our current and new Limited Partners,” said Jeffrey Berman, a Partner at Camber Creek. “Our 300-plus strategic Limited Partners give us an incredible market advantage. The capital from Fund IV and our Opportunity Fund puts us in a strong position to identify and invest in leading companies at a time when technology adoption is accelerating in our industry.”

“From the beginning,” said Kiran Bhatraju, founder and CEO of portfolio company Arcadia, “Camber Creek worked to build the relationship, opening their network to us before they invested. As we worked to expand our reach with real estate owners, we knew they would be great partners. They know real estate intimately and can strategically make connections between their portfolio companies and the industry.”

About Camber Creek

Founded in 2011, Camber Creek is a global financial platform focused on driving innovation in the real estate industry.  The firm invests in and scales compelling technology companies that are transforming the real estate industry. Over the past 12 years, Camber Creek established itself as the premier real estate technology venture firm by consistently delivering industry-leading returns to investors, driving value for its portfolio of start-ups, and generating successful company exits. Today, Camber Creek has nearly $1 billion in assets under management with offices in Washington D.C., New York, and Miami.

Media Contact

Colin Crook
[email protected]

SOURCE Camber Creek

DUARTE, Calif., Feb. 15, 2023 — The Prolacta Bioscience Foundation, an organization that promotes the understanding of human health and development to empower parents and nurture communities, today announced its contributions to 29 organizations that support human health and development surpassed $500,000 in grants to charitable organizations in 2022 alone.

“Together with our partners we’re striving to nurture healthier communities with education and outreach efforts that benefit infants, children, and parents,” said Vanessa Scott, president of the Prolacta Bioscience Foundation. “We’re proud to have had a lasting impact with meaningful donations to hands-on organizations that make a difference in individuals’ lives.” Launched in 2019, the foundation is dedicated to empowering parents, advancing infant nutrition, and improving neonatal healthcare. The foundation provides financial and volunteer support to nonprofit partners whose programs work toward one or more of three goals: 

1. Promote the Understanding of Human Health and Development – Foundation grants support  educational and outreach efforts that improve the health of infants and children, thereby supporting healthier families and neighborhoods.
2. Empower Parents – The foundation seeks to empower parents, particularly those who are disadvantaged, in the areas of neonatal care and infant nutrition. The goal is to decrease social, behavioral, and health risk factors that affect birth outcomes and contribute to infant mortality.
3. Nurture our Communities – The foundation nurtures healthier communities where Prolacta employees live and work, primarily in the areas of health, wellness, and nutrition.

Foundation awards reflect a broad geographic range, as reflected in this partial list of 2022 grantees:

“The grant from the Prolacta Foundation helps us make things a little easier for our families during a very difficult time,” said The Ronald McDonald House Charities (RMHCA) Strategic Partnerships Leader Tawny Basinger. “Their funding enabled us to offer meal vouchers, which is crucial to keeping families nourished and at their baby’s bedside.”

In response to COVID-19-related visitor restrictions, RMHCA had been delivering 25 dinners to the neonatal intensive care unit (NICU) once each evening. However, sometimes families were unable to receive their warm dinners at the set time due to treatment challenges with their baby, meeting with doctors, or other issues. RMHCA needed outside funding to expand the support it offers to families whose babies are in the NICU at the University of Arkansas for Medical Sciences.

With the Prolacta Bioscience Foundation’s grant, RMHCA has expanded the program to provide hot meals for families throughout the day, providing greater flexibility for families. The grant provides funding for nearly 3,000 hot meals to support families during their NICU stay.

About the Prolacta Bioscience Foundation

Established in 2019, the Prolacta Bioscience Foundation works to extend Prolacta’s corporate mission into the community by promoting the understanding of human health and development, empowering parents, and nurturing our communities. Board members include Vanessa Scott, president; directors John Bacich, Dr. Elizabeth DuBois, and Dr. Michal Young; John Shields, secretary; and Smety Hechmi, treasurer.

To learn more visit https://www.prolacta.com/en/company/our-foundation/

Media Contact:
Loren Kosmont
[email protected]
310-721-9444

SOURCE Prolacta Bioscience Foundation

WOBURN, Mass., Feb. 15, 2023 — IngredientWerks, an ag-tech ingredient company developing high value plant-based proteins for the alternative protein markets, announced it has secured its seed round of funding.

“It is with great excitement and appreciation that we welcome to IngredientWerks our founding investors Open Prairie and ARCH Venture Partners,” said Matt Plavan, CEO of IngredientWerks. “Closing this round, we are well-funded to advance to the next level our pipeline of plant-based, bioidentical animal proteins for the multi-billion dollar alternative protein food market and to demonstrate our solution to one of the greatest challenges facing mainstream adoption of alt proteins – affordable cost with equivalent taste and nutrition to their animal counterparts.”

“IngredientWerks is pioneering Molecular Farming to transform major agricultural crops like corn to produce heme proteins such as myoglobin and dairy proteins like casein that are the molecular equivalent to those found in animal meat and dairy,” said Jim Schultz, Founder and Managing Partner of Open Prairie. “Moreover, the IngredientWerks’ protein production system operates at a cost and carbon footprint well below that of fermentation production, which is capital intensive, operationally complex, and for which very little capacity exists today capable of processing alternative proteins.”

Molecular Farming uses plants as “manufactories” to produce high value proteins and achieves an unparalleled low cost of production through the economies of scale afforded by the immense cultivation and food processing infrastructure of traditional farm production in the US.   

“Consumer demand for parity in taste, nutrition and cost of alternative protein foods has become clear and now stands between niche and mainstream adoption of plant-based foods,” Plavan continued. “For companies offering these important new food alternatives, the production method they choose is one of the most important strategic decisions they’ll make – hence, there is an urgency to our mission to raise awareness within the plant-based food space that an environmentally sustainable and cost-effective supply chain capable of closing the parity gap and powering the scale-up of alternative proteins globally exist in IngredientWerks’ protein production system.”

About IngredientWerks:

IngredientWerks is a leader in Molecular Farming using genetic engineering and advanced plant breeding. Recently spun out of Agrivida, Inc (a subsidiary of Novus International), IngredientWerks leverages over 15 years of plant transformation, recombinant protein cultivation, processing and deregulation expertise to develop customized, high value protein ingredients to the alternative protein market.

SOURCE IngredientWerks

The Apkudo Circular Industry Platform enables supply chain efficiency and transparency across the lifecycle of connected devices, supporting smart decision making and strengthening repair, resale and recycling markets

BALTIMORE, Feb. 15, 2023 — Apkudo, the leader in supply chain automation for connected devices, announced today that they have closed $37.5 million in Series C funding in an oversubscribed round co-led by Closed Loop Partners’ Leadership Fund and Piper Sandler Merchant Banking with the participation from new and existing investors including MissionOG, Harbert Growth, Grotech Ventures, Lavrock Ventures, and Point Field Partners. During 2022, Apkudo continued its rapid growth and doubled revenue as industry players increasingly looked for ways to simplify and optimize their forward and reverse logistics for connected devices like mobile phones, tablets, laptops, wearables and other products. The company will use the funds to further expand their commercial and technical operations, as well as their international presence.

The Apkudo Circular Industry Platform solves for complexities in the connected device supply chain, delivering process efficiencies via a single operating system that manages the lifecycle of these devices, from launch to end of life. Already, Apkudo has connected and optimized the device supply chains for some of the world’s largest manufacturers, network operators, insurers, retailers, logistics providers, repairers and traders. Customers like FedEx, T-Mobile and Asurion have more transparency, security and connectivity across the supply chain for connected devices.

The Platform leverages both hardware and software technology purpose-built to maximize value from resale, repair and reuse while eliminating e-waste and improving profit margin and agility. Instead of relying on extensive labor, disconnected systems and limited reuse options, Apkudo provides a fully integrated diagnostic, dispositioning and marketplace solution that gives customers real-time visibility into global demand for their used devices. This comprehensive solution has saved a large mobile carrier over $100 million by improving inventory visibility and, for a global logistics company, reduced warehouse processing times by 30%.

More than six billion mobile phones alone are currently circulating and this number is expected to grow rapidly with increasing connectivity and consumption across the globe. These electronic devices are made of valuable resources, from the rare earth metals contained in their batteries to their individual electronic components. Yet today, less than 20% of electronics are collected, refurbished or recycled worldwide, which translates to a lost value of more than $50 billion each year. Furthermore, these devices contain several hazardous materials and when not managed properly at end-of-life, pollute air and groundwater at an alarming rate. Apkudo’s technology creates greater transparency and resiliency across the electronic device value chain, empowering businesses to make smart decisions regarding their devices, from launch, to forward logistics, to return, reuse and recycling at a device’s end-of-life.

“Velocity, accuracy, and transparency are required attributes of efficient, effective circular supply chains,” said Josh Matthews, CEO and Co-founder of Apkudo. “The Apkudo Circular Industry Platform is transformative in its approach to connecting industry participants and optimizing these outcomes for each and every device that moves through it.”

“There is so much value within the connected devices already in the market today. Increasing their useful life and keeping these valuable materials in circulation, and out of landfills and the environment, is a critical part of accelerating the circular economy,” said Martin Aares, Head of Asset Management at Closed Loop Partners. “Apkudo is helping build a circular future for connected devices––one that is more transparent and agile. We look forward to working with the Apkudo team as they accelerate the systems change needed for a waste-free future.”

“It’s actually a simple question – what should I do with this device, right now?”, added Seth Harward, managing director, Piper Sandler Merchant Banking. “But it took Apkudo to recognize all the pieces needed to answer that question, then build the solution that customers needed, and then finally make it easy for companies to use. This additional investment will help Apkudo get their solution to companies all over the world looking for a better way.”

To learn more, please visit www.apkudo.com. For media inquiries, please contact [email protected].

About Apkudo

Headquartered in Baltimore, MD with offices around the world, Apkudo helps companies managing connected devices to maximize device value, minimize labor costs and reduce e-waste. Apkudo’s Circular Industry Platform provides a full suite of decision-support and operating tools: automated testing and grading systems, device lifecycle management and resale market integration. As a result, Apkudo customers always have the answer to the question, “What should I do with this device, right now?”

About Closed Loop Partners

Closed Loop Partners is at the forefront of building the circular economy. The company is comprised of three key business segments: an investment firm, innovation center and operating group. The investment firm invests in venture, growth equity, buyout and catalytic private credit strategies on behalf of global institutions, corporations and family offices. The innovation center, the Center for the Circular Economy, unites competitors and partners to tackle complex material challenges and implement systemic change to advance circularity. The operating group, Circular Services, has twelve recycling facilities in operation today, and provides holistic, circular materials management to close the loop on valuable materials for municipalities and businesses throughout the United States. 

Closed Loop Partners is based in New York City and is a registered B Corp. For more information, please visit www.closedlooppartners.com.

About Piper Sandler Merchant Banking

Piper Sandler Merchant Banking (PSMB) is the growth equity investment arm of Piper Sandler Companies (NYSE: PIPR). Our team strives to partner with founders and CEOs of growing, commercial stage businesses that can benefit by leveraging Piper Sandler’s knowledge, experience, capital and relationships to build market leading enterprises. PSMB provides investment advisory services through the affiliated registered investment adviser, PSC Capital Partners LLC. Learn more about Piper Sandler Merchant Banking.

SOURCE Apkudo

BOSTON, Feb. 15, 2023 — Morphoceuticals Inc., a biotechnology company, announced it closed an $8 million Seed-2 funding round led by Prime Movers Lab and initial investor Juvenescence. Morphoceuticals is pioneering the use of artificial intelligence-guided electroceuticals to regenerate limbs, repair tissues, and regenerate organs, leveraging the groundbreaking work of Professors Michael Levin and David Kaplan from Tufts University.

Morphoceuticals’ scientific founders successfully demonstrated limb regeneration in an African clawed frog in early 2022, becoming the first to achieve functional limb regeneration in an adult animal of a species that does not naturally regenerate complex limbs in adulthood. The treatment consisted of a drug cocktail applied in a wearable bioreactor on the frog’s hind leg for just 24 hours, which triggered an 18-month period of regrowth that regrew the leg and restored its functionality. Results from this work were published in Science Advances in January 2022 as “Acute multidrug delivery via a wearable bioreactor facilitates long-term limb regeneration and functional recovery in adult Xenopus laevis.”

“The growth and form of living beings is controlled by a powerful physiological software. Using our understanding of natural voltage patterns and electroceuticals, we are beginning to understand how to communicate anatomical goals to cellular collectives. The bioelectric approaches we are pursuing kickstart complex morphological subroutines that would otherwise be too complex to micromanage at the molecular level,” said Levin, Vannevar Bush Professor of Biology and director of the Allen Discovery Center, both at Tufts, and associate faculty member of the Wyss Institute. “Our goal is to identify our body’s triggers for complex anatomical outcomes. By controlling bioelectric signaling, we are seeking to eventually generate functional tissues, limbs, and organs in humans, which could greatly improve the quality of life for patients.”      

“To engineer the bioelectric signaling of target tissues, we have been pioneering the development of wearable devices, such as biodomes, to establish a temporary hydrated and controlled environment at the stump site, along with the delivery of electroceuticals to trigger regenerative bioelectric signaling, all of which empowers the process,” said Kaplan, Stern Family Professor of Engineering at Tufts.

“The funding will enable us to now push forward on several fronts, including testing new electroceutical combinations for limb regeneration and amputation stump health that we can take into the clinic, as well as the development of tools that will map the bioelectric atlas of living tissues, which will be a discovery and development engine for our future therapeutics,” said Morphoceuticals’ CEO Michael Hufford, Ph.D.

Approximately 185,000 amputations are performed in the United States each year, and it is expected that nearly 3.6 million people will be living with the loss of an arm or a leg by 2050. “For the millions of people who have lost limbs due to diabetes, trauma, or any number of reasons, the Morphoceuticals team has moved us multiple steps closer to limb regeneration,” said Prime Movers Lab Venture Partner Amy Kruse, Ph.D., who will be joining the company’s board. “The Morphoceuticals team is pioneering the use of ion channel and gap junction modulators to induce not only limb regeneration, but to approach therapeutic indications from the top-down – using bioelectric programming – as compared to more traditional bottoms-up interventions pursued by biopharma today – focusing on manipulating cellular hardware.”

“Morphoceuticals’ approach to regenerative medicine is truly revolutionary. Traditional regenerative medicine aims to treat patients using precise cell types with precise dosing required to regenerate tissues. In contrast, Morphoceuticals’ approach aims to re-trigger the developmental programs that generated the tissue in the first place. Functionally, this means therapeutics are targeted at a higher layer of abstraction, like the difference between coding in Python versus Assembly,’ said Juvenescence Managing Director Alex Pickett. “Work on topical indications such as limb regeneration, skin repair or hair loss can help to pioneer techniques that can be applied to traumatic brain injury, organ repair, or cancer. The team has already made significant progress since our initial investment in 2020.”

To learn more about Morphoceuticals and its platform, click here.

ABOUT MORPHOCEUTICALS

Based in Massachusetts, Morphoceuticals Inc. is a biotechnology company co-founded by Drs. Levin and Kaplan and funded by Juvenescence Ltd. Morphoceuticals is pioneering bioelectric approaches to access anatomical programming that is a core component of our biological operating system. Using proprietary combinations of ion channel and gap junction modulators, we are focused on inducing limb regeneration, improving amputation stump health, promoting organ regeneration, and the treatment of channelopathies. For more information see: www.Morphoceuticals.com

ABOUT PRIME MOVERS LAB

Prime Movers Lab invests in breakthrough scientific startups founded by Prime Movers, the inventors who transform billions of lives. We invest in companies reinventing energy, transportation, infrastructure, manufacturing, agriculture and human augmentation. Portfolio investments span in-space transportation, industrial solar heat, ag tech, brain upgrades, nano-structured materials, wafer slicing, prosthetics, 3D printing, mobility, longevity and quantum computers. Learn more at www.primemoverslab.com.

ABOUT JUVENESCENCE

Juvenescence is a life sciences company developing therapies to modify aging and increase healthy human lifespan. It was founded by Jim Mellon, Dr. Greg Bailey and Dr. Declan Doogan. The Juvenescence team consists of highly experienced drug developers, entrepreneurs, marketers, and investors with a significant history of success in pharmaceutical drug development, synthetic biology, and tissue and cellular engineering.

Juvenescence has a broad portfolio of products in development and is driving innovation, with a focus on discovering and developing these therapies to modify the aging process, through prevention and by regenerating damage, to support healthy aging and increase health span. The company is committed to inspiring and equipping the world to, not just reimagine what it means to age, but to help people Reimagine A Lifetime. For more information see: www.JuvLabs.com.

Media Contact
Gavin Mathis
[email protected]
406-539-7277

SOURCE Morphoceuticals

Funding to Drive Product Development and Market Expansion as TWA Reach Forklift Automation Solution Expands Pilot Program 

UNION CITY, Calif., Feb. 15, 2023 — Third Wave Automation (TWA), provider of high-reach autonomous forklifts, today announced a strategic investment by Qualcomm Ventures and Zebra Technologies, bringing total funding to $70 million.

“The increasing adoption of advanced robotics, artificial intelligence (AI) and 5G connectivity is facilitating the use of autonomous solutions within the warehouse,” said Carlos Kokron, vice president, Qualcomm Technologies, Inc. and managing director, Qualcomm Ventures Americas. “Third Wave Automation’s shared autonomy approach with continuous learning capabilities delivers immediate value to the customers by easily integrating with existing workflows while enhancing labor productivity and safety. We are excited to invest in Third Wave Automation to bring next-generation autonomy to the forklifts.”

The strategic investment will enable TWA to accelerate new innovations as its first product expands its select pilot program. With the funding, TWA plans to expand its market offerings, accelerate new solutions for automating other classes of forklifts, including narrow aisle and counterbalance trucks and integrate with automation solutions, such as Fetch Robotics, which is now part of Zebra Technologies.

“As our supply chain customers continue to battle labor shortages, they are turning to  automation solutions to improve productivity. TWA’s autonomous, high-reach fork trucks streamline warehouse workflows, enabling operators to increase throughput and lower costs while also improving worker safety,” said Tony Palcheck, managing director of Zebra Ventures at Zebra Technologies. “TWA’s approach aligns with Zebra’s goals, and we look forward to working with Arshan and the Third Wave team to improve material handling operations.”

TWA Reach Offers Ultimate Flexibility with Four Deployment Modalities
TWA Reach is the only forklift automation solution on the market today that offers users the flexibility to deploy their fleet in four modalities – fully autonomous, remote operation, remote assist and traditional manual operation. The TWA Reach, which was named One of the Best Robots of CES 2023, is a fully automated reach truck solution that can operate in 10+ foot aisles up to 366 inches high in base configurations. Because it can easily integrate into existing workflows with no costly infrastructure changes commonly required by traditional automation solutions, users can see an immediate impact with the TWA Reach solution. In pilot deployments, TWA Reach has been instrumental in enabling users to meet their daily quota of throughput in inbound putaway, replenishment and outbound workflows.

“After successfully deploying our solution with key pilot customers, we are excited to expand the TWA Reach pilot program. This enables us to explore additional automation workflows and continue deploying flexible forklift automation technology,” said Arshan Poursohi, TWA’s co-founder and CEO. “With the strategic investment from Qualcomm Ventures and Zebra Technologies, we look forward to scaling production of our forktrucks, deploying them with new customers in a wide variety of sites, continuing to innovate with new applications and additional materials handling vehicles, and perfecting our fleet management.”

The TWA Reach forklifts utilize TWA’s core automation technology and collaborative autonomy platform, which leverages AI and machine learning to enable remote operation and assistance, intelligent fleet management and continuous learning capabilities to provide holistic materials handling solutions that improve over time. TWA’s fleet management system provides the visibility and tools needed to effectively manage users’ fleets of automated forklifts and respond to robot assists in a timely and effective manner. With a focus on user experience, TWA’s operator-first approach ensures that edge cases are resolved quickly to enable a high level of performance in warehouse operations.

TWA will be demonstrating its TWA Reach automation solution in booth N6151 at ProMat 2023, taking place March 20-23 in Chicago. There, TWA also will participate and host sessions on adopting automation and what’s now possible in supply chain robotics, which includes one of its first major 3PL customers.

About Third Wave Automation
Third Wave Automation™ (TWA) was founded in 2018 in Union City, Calif., to alleviate increasing supply chain stress using intelligent automation products and services. The first of its products, the TWA Reach, is the only forklift automation solution on the market today that offers users the flexibility to deploy their fleet in four modes – fully autonomous, remote operation, remote assist and manual operation. TWA brings people and automated systems together to improve throughput, efficiency and safety beyond what people or automation could achieve alone.

Leveraging machine learning and artificial intelligence to create its collaborative autonomy platform, TWA’s fleet management system provides the visibility and tools needed to effectively manage fleets of automated forklifts and respond to edge cases in a timely and effective manner. The Third Wave Automation solution easily integrates into existing workflows with no costly infrastructure changes commonly required by traditional automation solutions and gives customers an immediate impact with benefits from day one. For more information, visit thirdwave.ai.

About Qualcomm Ventures
Qualcomm Ventures is the venture capital arm of Qualcomm Incorporated and is based in San Diego, California with several satellite offices located throughout the world.  Founded in 2000, Qualcomm Ventures is a corporate venture capital fund with over 150 active portfolio companies and more than 20 exits over a billion dollars, including 99 Taxis, Cruise Automation, Fitbit, Invensense, NQ Mobile, Waze and more. As a global investor, Qualcomm Ventures helps connect entrepreneurs to the resources, relationships and deep industry expertise they need to succeed in the mobile technology ecosystem. The group is focused on early to late stage investments in the mobile/wireless sector with strong interests in 5G, IoT, Connected Automotive, AI, Consumer and Enterprise & Cloud.

About Zebra Technologies
Zebra (NASDAQ: ZBRA) empowers organizations to thrive in the on-demand economy by making every front-line worker and asset at the edge visible, connected and fully optimized. With an ecosystem of more than 10,000 partners across more than 100 countries, Zebra serves customers of all sizes – including 84% of the Fortune 500 – with an award-winning portfolio of hardware, software, services and solutions that digitize and automate workflows. Supply chains are more dynamic, customers and patients are better served, and workers are more engaged when they utilize Zebra innovations that help them sense, analyze and act in real time.  Zebra recently expanded its industrial automation portfolio with its Fetch Robotics acquisition and increased its machine vision and AI software capabilities with the acquisitions of Adaptive Vision, antuit.ai and Matrox Imaging. Zebra is #42 on Newsweek’s inaugural list of America’s Most Loved Workplaces, #42 on Fast Company’s list of the Best Workplaces for Innovators and #79 on Forbes’ list of America’s 500 Best Midsize Employers. Learn more at www.zebra.com or sign up for news alerts. Follow Zebra’s Your Edge blog, LinkedIn, Twitter and Facebook, and check out our Story Hub: Zebra Perspectives.

Contact: 
Robert van Gool
415-505-2686
[email protected]

SOURCE Third Wave Automation

The Promise Venture seeks to foster wealth creation opportunities for diverse entrepreneurs and contribute to bridging the wealth gap among underrepresented community members 

CAMBRIDGE, Mass., Feb. 15, 2023 — The Promise Venture announced the launch of its Search Fund platform today, a vehicle formed to partner with Black and other diverse entrepreneurs acquiring quality businesses in the lower middle market.  The Promise Venture’s founding team – Reggie Carter, Thomas Askew, Segun Olowofela and Michael Gilligan – came together from a range of operating and investment backgrounds to ensure that all entrepreneurs with ownership potential have equitable access to capital and the resources required to succeed. 

The Promise Venture grew out of a shared desire to see the opportunity for wealth creation opportunities among Black and other diverse entrepreneurs become more equitable.  The founding team collectively believe that entrepreneurship is a path to further wealth building in underrepresented communities through sustainable quality jobs and employee ownership programs, while also generating attractive returns for investors. 

“We can be a catalyst for creating a seat at the table, that’s when value can be shared, and change is really made,” expresses Reggie Carter, whose expertise lies in success growth strategies and talent development. “Our efforts will result in greater access to entrepreneurship through acquisition, serve as a solution for business owners addressing succession planning, and foster wealth creation for employees. Imagine improving the lives of hundreds of entrepreneurs, their families, and employees—that’s the American Dream!”

The Promise Venture looks to be the investment partner of choice among diverse entrepreneurs and sees itself as a demonstration model that will spawn expansive growth in the access to business leadership and other entrepreneurial opportunities among members of diverse communities.  The search fund market has developed over the last several decades to enable MBA graduates and mid-career professionals with operating experience coming out of industry to acquire businesses in the lower middle market (typical revenue range: $10 – $50 million).  This market is generating strong investor interest and growing entrepreneur participation.

“Our goal is to foster an ecosystem where all entrepreneurs have an equal shot at driving and participating in financial value creation,” declares Michael Gilligan, whose expertise lies in strategy and leadership development. “Equity is the key to the shift we envision, and we’re excited to unlock the untapped talent that diverse entrepreneurs bring. Our success is rooted in the allies, partners and collaborators who desire to join our ecosystem.”

The Promise Venture is currently in the market building its team, its pipeline of search entrepreneurs and raising investment capital. The firm’s investment strategy targets businesses with established value propositions, consistent operating performance and strong growth potential primarily in the health care, business services and technology-enabled business sectors. 

“We take an inclusive and results-oriented approach to investing,” adds Thomas Askew, whose talent development and operating expertise ensures superior candidate selection, strong revenue growth and top-tier operating results. “Our strategy allows us to partner with excellent operators and quality investors, who not only share our vision, but believe in it and will do their part to help us change the economic landscape and close the wealth gap of underrepresented communities.”

Segun Olowofela, an expert in business transformation and operational excellence continues, “We created The Promise Venture with one singular goal in mind… to provide opportunities for brilliance and value creation across all spectrums. Providing the capital to diverse entrepreneurs enables them to focus where they can excel and fully harness the untapped potential within every community, making us better as a whole. We are talking about employment opportunities, upskilling of talent and really identifying new ways to solve old problems and ultimately, fostering wealth creation opportunities for all.”

For more information, or to participate as an investor or search entrepreneur, please visit the company’s website at https://promiseventure.co/.

For press inquiries and interviews, contact Kayla Tucker Adams at 214-403-9852, [email protected]; or Candace Ledbetter at 770-709-1509, [email protected].

SOURCE The Promise Venture

Funding supports continued clinical studies for pediatric RSV and universal influenza vaccine candidates as well as expanded indications for oncology vertical

FARMINGDALE, N.Y. and CAMBRIDGE, Mass., Feb. 15, 2023 — Codagenix Inc., a clinical-stage synthetic biology company with a rational virus design platform for live-attenuated viral vaccines and immuno-oncology therapeutics, today announced the completion of a $25 million Series B extension financing, with participation from a new investor, the Serum Institute of India Pvt. Ltd., along with existing investors Euclidean Capital and Adjuvant Capital.

Proceeds from the financing will support the clinical development of CodaVax™-RSV, an intranasal, live-attenuated vaccine candidate, for the prevention of respiratory syncytial virus (RSV) disease. Codagenix is set to begin dosing in a Phase 1 trial in healthy infants and toddlers in early 2023. The primary disease burden and hospitalizations during the previous 2022 RSV season were in the pediatric population, not older adults, and Codagenix has been granted Fast-Track designation by the U.S. Food and Drug Administration (FDA) to help solve this urgent unmet need. CodaVax-RSV is highly differentiated as it does not utilize a backbone virus, nor does it have genetic deletions to support induction of an immune response to the complete antigenic composition of the virus in children.

The funding will also support additional cohorts in an ongoing Phase 1 study for CodaVax™-H1N1, a universal, live-attenuated influenza vaccine in 1H23 and expansion of the company’s oncology program to new indications, utilizing its platform for rational, indication-focused virotherapeutics.

The advanced development of the company’s intranasal COVID-19 vaccine candidate CoviLiv™ is currently being evaluated in the Solidarity Trial Vaccines (STV) which is supported by the World Health Organization (WHO) and the Serum Institute of India. STV is a placebo-controlled, Phase 3 safety and efficacy study with the primary endpoint of prevention of confirmed COVID-19 clinical disease. With completion of the STV study, Codagenix may be able to demonstrate primary efficacy of their COVID-19 vaccine platform potentially enabling CoviLiv to be developed as a future seasonal-COVID-19 vaccine.  

“It is exciting to now have the Serum Institute of India as a direct investor, building upon our successful partnership in the development of CoviLiv and, of course, we thank Euclidean Capital and Adjuvant Capital for their continued support and belief in our differentiated platform,” said J. Robert Coleman, Ph.D., M.B.A., Co-Founder and Chief Executive Officer of Codagenix. “This financing positions us well to advance our deep clinical pipeline, including live-attenuated vaccine candidates in RSV, that has the potential to meet a critical unmet need as well as further demonstrate our platform’s ability to design custom virotherapeutics for solid-tumors.”

About Codagenix, Inc.
Codagenix is a clinical-stage biotechnology company leading a new era of live vaccines and viral therapeutics. The company’s breakthrough platform brings together live-attenuated virus design with cutting-edge codon deoptimization for powerful synthetic biology-based solutions to take on our biggest threats in infectious disease, cancer and animal health. Codagenix was founded based on technology developed in the laboratory of National Academy of Science member Dr. Eckard Wimmer at Stony Brook University; is supported by Adjuvant Capital, TopSpin Partners, and Euclidean Capital; and has ongoing research and license programs with various federal agencies. For more information, visit codagenix.com.

Media Contact
Ignacio Guerrero-Ros, Ph.D.
Russo Partners
646-942-5604
[email protected]

Investor Relations Contact
Leo Vartorella
Argot Partners
212-600-1902
[email protected]

SOURCE Codagenix, Inc.

Kanarys co-founder and CEO joins less than 20 Black female founders who have raised more than $10M.

DALLAS, Feb. 15, 2023 — Kanarys, Inc., a diversity, equity, inclusion, and belonging (DEIB) technology company focused on providing the tools organizations need to create long-term systemic change around DEIB challenges, announces today it has raised $5M in its Series A financing round led by Seyen Capital. The round also includes Portfolia Rising America, Rackhouse Venture Capital, Revolution‘s Rise of the Rest Seed Fund, StartFast Ventures, TechNexus Venture Collaborative, and Tech Square Ventures. Kanarys’ total capital raised to date is $10.5M. 

The funding enabled Kanarys to recruit and appoint six key members focused on DEIB, engineering, finance, operations, product marketing, and sales to its executive team. It will also be used to further expand the Kanarys DEIB technology platform, which includes first-of-its-kind products such as the Equity Innovation Solution, Organizational Systems Assessment, and Supplier DEI Assessment.

“The momentum demonstrated through our Series A round underscores the importance and growth we’ve seen in DEIB solutions over the past several years. DEIB remains a critical driver to a thriving business, in every economic climate, and company leaders should continue to bolster their efforts when it comes to prioritizing DEIB,” said Mandy Price, co-founder and CEO of Kanarys. “We’ve been on a mission since 2018 to develop and deliver data-driven technology tools that advance DEIB in the workplace and create a culture of meaningful engagement across the global workforce. Our solutions empower companies to not only address the unique needs of their employees but also foster inclusion among their stakeholders and customers. This funding, along with the hiring of leading industry experts, will catapult us towards fulfilling our mission.”

Kanarys has seen tremendous revenue and logo growth since its inception, revealing that companies are seeking out sustainable, data-driven DEIB solutions. In just five years, Kanarys has grown from an idea to a category industry leader in DEIB that serves major customers including Yum! Brands, Silicon Labs, the Chuck E. Cheese Corporation, 7-Eleven, and other Fortune 500 companies, along with establishing strategic partnerships with leading national advocacy groups such as Prospanica, the National Society of Black Engineers, and INROADS. Kanarys has transformed notable workplaces using its extensive DEIB data-driven approach, ultimately improving workplace experiences for tens of thousands of employees.

“As the leading provider of data-driven DEIB solutions, Kanarys demonstrates its value to companies and employees worldwide,” said George Spencer III, Senior Managing Director of Seyen Capital. “Today companies are being held to higher standards when it comes to DEIB, and Kanarys has developed the platform companies need to manage DEIB and make accountability more transparent and reliable for company boards, managers, investors, employees, and other key stakeholders. I am confident that our investment will further advance greater equity and transparency in the workplace, and we are excited to see the impact our investment has on furthering their mission.”

Series A

Despite the challenges Black and female founders face in achieving equitable funding, Kanarys raised another groundbreaking round, indicating the growing investment in DEIB and data-based tools, like Kanarys, that are poised to move the needle on systemic progress. In January 2021, Kanarys closed its historic $3M seed round, and at that time, Mandy Price was among just 93 Black women to have raised over $1M in funding. Today, with the landmark Series A, Mandy joins less than 20 Black female founders who have raised more than $10M, and Kanarys is now the first Black and female-founded company based in Texas that has raised over $10M.

“At Revolution’s Rise of the Rest Seed Fund, we champion entrepreneurs across the country who are building groundbreaking companies and innovative products,” said David Hall, Managing Partner of Revolution’s Rise of the Rest Seed Fund. “Since investing in Kanarys’ seed round, we’ve seen their accelerated growth and contributions to DEIB innovation, which is why we’re excited to back Kanarys again for their Series A. Kanarys’ success underscores the notion that entrepreneurs can thrive in ecosystems outside of Silicon Valley.”

“While many corporations recognize the importance of DEI, few tools are equipped to measure equity and inclusion,” said Terry Howerton, Co-founder and CEO of TechNexus Venture Collaborative. “Kanarys is using hundreds of data sources to quantify equity and inclusion, uncover structural bias and drive systemic change. Our team is confident that an investment in Kanarys can help further the conversation around prioritization alignment with our Corporate Partners’ internal DEI objectives, help with long-term talent retention, and potentially present a roadmap of options that could more clearly define next steps.”

“Designed to identify problem areas and close gaps, Kanarys’ data-driven platform solves a critical issue for companies wanting to create long-term systemic change around DEIB challenges,” said Chuck Stormon, Managing Partner of StartFast Ventures. “At StartFast Ventures, we are passionate about investing in businesses that have the potential to make a lasting impact, and we believe Kanarys is poised to transform workplaces everywhere. We were particularly impressed by their strong, well-rounded team, proven track record, and potential for exponential growth, which is why we’re excited to support Kanarys in their next chapter.”

Executive Team Appointments

To propel the company’s growth, Kanarys appointed six industry leaders to its executive team:

• Albert Fong, who has extensive experience with early to mid-stage companies focused on HR technology and served in senior marketing roles at Reflektive, Topia, and Mindtickle among others, was appointed Vice President of Product Marketing.
• Cecilia Choi, the previous Head of Operations of Americas at Papaya Global, who built their operations function in the United States, joined Kanarys as the Vice President of Operations.
• Chad Stoerp, a SaaS and tech-enabled subscriptions finance leader who has completed over $200M in financing transactions, became the Vice President of Finance.
• Dawn Christian, who brings extensive DEIB experience and is a certified mental health, wellness, and diversity and inclusion practitioner, was appointed Executive Vice President of DEIB. She has also served in senior leadership roles including leading diversity at a large public global company.
• D’ontreye Nero, an accomplished technical professional with more than 20 years of experience building and managing software and cloud solutions, was appointed Vice President of Engineering.
• Joe Fernandez, an industry leader in human capital and digital transformation, is now Vice President of Sales. He has led and scaled sales teams at BetterUp, LinkedIn, and OnFrontiers.

In 2022, Kanarys achieved several notable milestones, including a partnership with HubSpot, where HubSpot Ventures invested in Kanarys’ platform and Kanarys helped HubSpot’s customers improve DEIB through its proprietary DEI Maturity Quiz.

SOURCE Kanarys, Inc.