NEW YORK, May 30, 2023 — IA Capital Group, the longest-tenured and most experienced venture capital firm focused on insurtech, announces new senior team members that strengthen its investment focus at the intersection of health and insurtech/fintech:

• Christy Lane, PhD, formerly an IA Capital Advisory Partner, joins the firm’s core team as a Venture Partner
• Bob Sollmann, a Senior Advisor in Accenture’s North American Insurance practice and former EVP at MetLife, joins IA Capital as an Advisory Partner
• Dave O’Brien, former CEO of both Agreement Express and Zywave, joins IA Capital as an Advisory Partner
• IA Capital’s health-related investments include leading financing rounds in Health Gorilla and Sparta Science

A leader in Series A and B venture investments across North American insurtech and fintech, IA Capital is increasingly focused on insurtech/fintech startups with health-related data, analytics, AI and/or personalization capabilities. Subsectors of interest include: healthcare payments, life insurtech, health insurtech including Medicare, and technologies related to workers’ compensation, group benefits, disability insurance, long-term care insurance, longevity, wellness, decumulation, retirement, and wealth management.

Dr. Christy Lane currently serves as the Director of Insurance Solutions for Health Gorilla, an interoperability health data platform provider, and as a senior advisor to Sparta Science, a leading technology company specializing in movement health and falls prevention. IA Capital co-led Health Gorilla’s Series B financing with Nationwide and participated in its $50 million Series C financing, and also led Sparta Science’s 2023 financing. Dr. Lane is a founder of the Wearable Health Lab at Stanford University and a Full Professor of Health and Physical Education. She is the founder of Vivametrica, an insurtech company that leveraged data from wearable devices to predict mortality and disease risks. Her expertise spans predictive analytics, biomarkers, lifestyle underwriting, rehabilitation, and electronic medical data.

Bob Sollmann is a recognized business unit leader across group benefits, voluntary benefits and retirement, having served in senior roles at Accenture for 10 years and at MetLife for over 20 years.

Dave O’Brien led both Agreement Express and Zywave, two agency-focused insurtech companies, to record growth, profits and highly successful sale transactions.

“Christy is an industry leader in healthtech; Bob is an industry leader in group benefits; and Dave is an industry leader in agency tech. We are extremely pleased to have them join our team as we ramp up our capabilities in these areas, which are integral to our investment thesis.” said IA Capital Managing Partner Andy Lerner.

In addition to Health Gorilla and Sparta Science, IA Capital’s investments at the intersection of health and insurtech/fintech include:

• Integriant Ventures Insurance Services, a technology-enabled insurance agency focused on Medicare and life insurance;
• Brella, a provider of modern supplemental health insurance plans; and
• Authentic4D, a medical imaging technology platform and claims assessment provider.

About IA Capital Group:  

Founded in 1992, IA Capital is a New York-based investment firm and manager of the Inter-Atlantic funds. The firm has a 23 year track record of managing venture capital funds for insurance companies, currently totaling 20 insurers representing over $1.5 trillion of assets. In 2021, from two investments of $5 million each, IA Capital distributed $400 million to its investors/partners.

Contact:

IA Capital Group, Inc.
Ravi Shah, 212-581-2000
[email protected] 
www.iacapgroup.com
@iacapgroup

SOURCE IA Capital Group

The investment syndicate includes new investors and follow-on investments from NorthCoast Ventures, JumpStart and OVO Fund

CLEVELAND, May 30, 2023 — UnifyWork, the workforce intelligence platform powering equitable regional talent networks, today announces an additional $3 million in funding, bringing its total funding to date to $7.5 million.

“We are inspired by the confidence investors are exhibiting in this challenging funding environment. This capital will help our team achieve our mission of informing, empowering and fully engaging our workforce so individuals, businesses and communities can thrive,” said UnifyWork Founder and CEO Stephen McHale.  “Quite simply, we’re making talent shortages a thing of the past.  Our skills-based matching technology enables employers to hire individuals who can’t be found through job boards or staffing agencies. At the same time, it helps job seekers identify work they love that embraces their unique skills and interests, while illuminating career development pathways throughout their lives.”

UnifyWork’s patented skills-based matching technology analyzes job seeker skills, interests and unique work styles, mapping them to nearly 1,000 occupations that the Bureau of Labor Statistics has documented across the United States through O*Net. As of today and going forward, UnifyWork only allows individual livable wage or higher wage jobs on the network to advance its efforts of powering inclusive prosperity.

According to one job seeker who recently used the UnifyWork platform, “I would like to thank the people who created this concept. There’s been instances where myself and others I know gave up looking for a job because it’s too complicated. You really simplified the process.”

“The amount of interest and growth we’ve seen in the talent network in such a short time is truly astounding,” added McHale.  “We’re now beginning to work more closely with community colleges and K-12 schools to support their strategic initiatives in student career development.  The opportunities are virtually endless.”

About UnifyWork

UnifyWork is the first workforce intelligence platform powering regional talent networks through its patented skills-based technology. The platform enables equitable hiring, and provides real-time data on job market supply and demand to help regions unleash their full economic potential. Headquartered in Cleveland, OH, UnifyWork is a spin-out of UnifyLabs, a 509(a)3 non-profit founded in 2017, with the mission of powering inclusive prosperity. Learn more at unifywork.com.

SOURCE UnifyWork

Series A will help LAND scale production in the Midwest to meet customer orders across the U.S.

CLEVELAND, May 30, 2023 — Cleveland-based electric mobility and portable battery manufacturer LAND announces it is ramping up production of its flagship two-wheel electric vehicle, The District, thanks to new Series A funding. The round allows LAND to expand its production team as well as hand build the electric vehicles at its newly renovated 30,000-square-foot manufacturing facility.

“This is a significant milestone for us as we shift from the pilot run to producing a higher volume of e-bikes for customers,” LAND CEO and Founder Scott Colosimo says. “Our goal is to replace CO2 emissions from the millions of motorcycles on the road with electric mobility. But at LAND, the bike is just the beginning to a more energy efficient world.”

Founded in 2020, LAND is comprised of an experienced team of designers, engineers and software developers who have a passion for mobility and sustainability. They have personally designed The District and the portable power platform (CORE) from the ground up to be compact, lightweight, and versatile to meet the needs of a range of riders, from beginners to experienced motorcyclists. Featuring four speed settings, from e-bike (27 mph) to e-motorcycle (over 70 mph), The District can legally be taken on and off road to offer users an electrifying experience.

While the round helps LAND complete and ship customer orders, the funding also supports the continued development of The District’s platform and portable battery pack, which is a connected power source that can be used by businesses and consumers to reduce their carbon footprint.

The Series A round was led by Ancora, with participation from several other investors across the United States.

“We are very excited to get in the driver’s seat and support a Northeast Ohio company that is accelerating energy independence,” Ancora Chairman and CEO Fred DiSanto says.

For more information, visit landmoto.io.

About LAND
Founded in 2020 by Scott Colosimo in Cleveland, Ohio, LAND is based on the principle that energy continuity and mobility are essential to modern life. LAND provides a transitional eMoto ecosystem with a portable power platform (CORE), a game-changing approach in the light electric vehicle industry. With products proudly manufactured in Cleveland, LAND is unwavering in its belief in American ingenuity and world-class craftsmanship. As a design-forward company, LAND is dedicated to constantly evolving to meet the needs of their customers, everyday consumers and businesses looking for energy efficiency.

SOURCE LAND

Leading healthcare company focused on developing treatments for chronic diseases leverages Deal Box’s capital raise technology for growth funding round

CARLSBAD, Calif., May 30, 2023 — Deal Box, a capital markets advisory and secure token offering packaging platform, today announced that Biostax Corp. (OTC Pink: IMUN) (“Biostax”), a leading pharmaceutical, biotechnology, and MedTech company focused on developing affordable treatments for those living with chronic illnesses, will be leveraging Deal Box’s capital raising technology and Investment Packaging (^™) formula to raise $12 million. Deal Box’s capital funding method will enable Biostax to expedite growth and innovation, as well as maximize the reach to markets where health challenges are prevalent and healthcare expenses hinder patient access to treatment.

The global healthcare and life sciences industry is expected to hit $330.69 billion by 2030, at a growth rate of 10.8%. The COVID-19 pandemic is a grand contributor to the dramatic growth of this industry, and it will continue to demand the aid of companies like Biostax.

With a commitment to improve healthcare outcomes, Biostax is focused on driving the development and commercialization of proprietary mechanisms, like pharmaceutical, biotechnology, and MedTech products to prevent, intercept, and improve autoimmune and chronic illnesses. The company’s objective directly aligns with Deal Box’s mission to invest in innovative companies looking to improve the world. Deal Box’s capital raise technology will streamline Biostax’s access to a wider range of investors and secure funding more efficiently to not only provide affordable healthcare to those with autoimmune and chronic illnesses, but also diversify their reach to other critical areas.

“Biostax brings innovative technology and commitment to expansion to the table, as well as, aiming to provide medical care to those with little access, which will certainly bring forth immense value to investors,” said Thomas Carter, CEO and Chairman of Deal Box. “Biostax is fixated on refining what affordable health care means to society, and we are excited to support them through this growth capital round.”

“We are thrilled for the launch of our growth funding round, and even more so to have Deal Box alongside us. Deal Box is not only just as committed to our mission as we are, but also dedicated to advising and guiding our company during a time of tremendous growth and expansion into a growing market with vast potential” said Kelly Wilson, CEO of Biostax. “The Deal Box platform is forthright and efficient, preventing us from wasting time with uninterested investors and leading us towards raising more capital with meaningful investors that see value in our mission to reinvent access to affordable health care.”

To learn more about Deal Box and its investment packaging services, visit here. You can also click here to learn more about Biostax and their innovative approach to affordable healthcare.

About Deal Box 

Deal Box is a digital assets platform transforming venture investments. Since 2017, Deal Box has rigorously vetted and digitized over $250M of assets, embedding transparency and compliance into thousands of venture transactions. From deal structuring to digitizing company shares, Deal Box manages the entire asset lifecycle to deliver investors a secure and seamless ownership experience. In addition to its digital assets platform, Deal Box provides comprehensive capital advisory services through Investment Packaging^™. Spanning data room creation, financial modeling, and valuation analysis, Investment Packaging^™ is a six-week process that helps issuers avoid painfully lengthy or canceled investment timelines, giving investors an efficient diligence process and a streamlined investment experience.

About Biostax

Biostax Corp. is a pioneering pharmaceutical company involved in the acquisition, development, and commercialization of pharmaceutical and biotechnology products that have a well-defined path to market. By utilizing a biotech portfolio hub-and-spoke engine, the company plans to advance focused and efficient small-scale biotechnology and pharmaceutical programs through subsidiaries, investment vehicles, or partnerships, and deploy its products from those programs in markets both in the U.S. and internationally for initial commercialization.

For Media Enquiries
Sena McGrand/Michael Gallo
Lumina Communications
[email protected] 

SOURCE Deal Box

OMERS Growth Equity Leads Round, Joins Board to Support Growth of Value-Based Centers of Excellence Solution that Delivers Better Health Outcomes While Driving Healthcare Savings

SAN FRANCISCO, May 30, 2023 — Carrum Health today announced an oversubscribed $45 million Series B financing led by OMERS Growth Equity. Revelation Partners joined the round along with return investors Tiger Global, Wildcat Venture Partners, Cross Creek and SpringRock Ventures. Carrum Health will use the funding to expand its growing oncology benefit offerings and scale its surgical care service lines to give employees access to the top 10% of doctors and providers across the country while helping employers control healthcare spending.

Teresa Lee, managing director of OMERS Growth Equity, will join Carrum Health’s board of directors.

“We are very excited to partner with Carrum Health, a pioneering and differentiated player in the healthcare space, that offers an innovative, scalable approach in the shift to value-based care. With its Centers of Excellence (COE) network, digital platform and data-driven surgical episode bundling capabilities, Carrum Health has created a solution that allows for real-time and measurable value to employers, as well as a superior patient and clinician experience,” said Lee. “The company is well-positioned to transform how healthcare is delivered and paid for, and we look forward to supporting the management team in realizing that vision.”

Carrum Health’s unique value-based program addresses acute care scenarios, such as orthopedic surgery and cancer treatment, which accounts for nearly half of total employer spend. Carrum Health’s COE solution not only reduces unnecessary procedures by as much as 30%, leading to better patient outcomes, it can result in savings of up to 45% per care episode, according to a published study by the RAND Corporation.

“Every business in America is looking to manage costs, but they can’t afford to sacrifice the benefits they offer employees. Carrum Health firmly believes that the path to reducing healthcare costs starts with delivering higher quality care,” said Carrum Health CEO Sach Jain. “Our COE solution is proven to deliver significant savings on healthcare spend and generate measurable cost savings within the first year of deployment. In a time when employers are looking to consolidate benefits, we’ve seen 100% year-over-year growth in new customers and zero churn of existing customers.”

Carrum Health has seen formidable momentum with its pioneering oncology COE offering and currently partners with top cancer care providers across the country, including AccessHope LLC, City of Hope, GRAIL LLC, Memorial Sloan Kettering Cancer Center and University of Chicago Medicine. In 2022 alone, the company added six new partners, including CVS, Included Health, Accolade, Rightway, SWORD Health and Virgin Pulse.

About Carrum Health 
Carrum Health is a value-based healthcare platform delivering higher quality care while helping self-funded employers immediately reduce their spend for the most prevalent and costly conditions including cancer, musculoskeletal, cardiovascular, and bariatric. Utilizing a Centers of Excellence (COE) network, with an all-inclusive pricing model and 30-day warranty on care, Carrum members receive surgical and cancer treatment guidance and coordination through the entire care journey with upfront pricing, ensuring the highest quality, most appropriate care. Carrum reduces unnecessary procedures by as much as 30% and aligns cost and care incentives to save employers up to 45% per episode of care, all validated by peer-reviewed publications. Carrum’s award-winning technology gives members access to a mobile app and Care Specialist that guides them through the surgery process, and a seamless platform integration to make COE adoption plug-and-play for employers. Backed by OMERS Growth Equity and Tiger Global, Carrum was named to the 2021 CB Insights Digital Health 150 and named one of the best places to work in 2022 by Built In. The company, founded in 2014, is headquartered in Silicon Valley. For more information, visit carrumhealth.com.

SOURCE Carrum Health

Startup leverages AI workflow optimization to transform the industry’s procurement process

SAN FRANCISCO, May 30, 2023 — Today, Wellplaece founders announced the company’s Private Beta launch in addition to a $5.5M seed round which includes funding from a pre-seed round. The funding was led by Eniac Ventures and Bee Partners, along with participation from Erik Anderson, Co-founder CEO WestRiver Group; Haroon Mokhtarzada, CEO & Co-founder of TrueBill and RocketMoney; Andy Oreffice, former CCO of Affordable Healthcare; and entrepreneur Francis Hellyer. Wellplaece is the first and only platform for dental offices to source the right products at the best prices. Co-founded by Caen Contee, serial entrepreneur and founding team member of global micromobility startup Lime; and CTO, lead software engineer Ivan Bertona, Wellplaece has already achieved significant growth, proven consistent customer savings, and is scaling up to meet industry demand with the launch of their automated, multi-vendor supply product purchasing platform.

Currently, ordering supplies, and any kind of comparison shopping for the best dental products is a fragmented process. It is time-consuming, costly and prone to human error. Based on Wellplaece’s internal research, dental practice offices rely on at least three and up to seven different suppliers on average. Wellplaece ultimately empowers dental offices to spend their time more efficiently. Wellplaece also provides data to power interoffice optimization, decision making, and business intelligence, particularly valuable toward the management of group practices.

“I am constantly working to save, in order to take the pressure off of our top line, so we can focus on quality of care,” said Dr. Armand Begian of SugarBug Dental. “I value the relationships I have with my traditional suppliers, and I thought I had negotiated good prices. I can’t believe the savings Wellplaece has been able to optimize on our behalf.”

Unlike other companies in the dental marketplace space, Wellplaece’s performance-based business model leverages built-in AI to deliver newfound savings to its clients, Dental Support Organizations (DSOs) and dental practices everywhere at no cost to them. The company leverages aggregated customer volume to get their practices market-competitive pricing, and customer-specific settings to enable practice or group specific purchasing behaviors across a large network of suppliers. Clients are only billed after their orders are successfully processed, placed, and confirmed delivered.

Wellplaece’s proprietary technology shops an ever expanding network of suppliers on the client’s behalf, resulting in more streamlined access to the right products for a better price. Wellplaece places the order and manages supplier logistics while only charging the client once for the aggregated cart of supplies. In addition, Wellplaece even manages returns and chargebacks when necessary.

“By utilizing our AI-empowered tech to do the shopping across a much expanded supply network, we help dental practices make more informed, consolidated, and informed decisions on the procurement process,” said Wellplaece Co-founder Caen Contee. “As the dental industry and private group practices evolve into this new decade, it’s becoming clear that it’s just as important and impactful to save on the bottom line and make your practice more operationally efficient as much as it is to focus on topline growth- upselling patients, treatments, and maximizing patient throughput.”

Already, Wellplaece has saved its first cohort of dental practices 20% to 40% savings per order. Additionally, by the end of Q2, Wellplaece will have doubled its distributor and manufacturer supplier network, and is on track to onboard 100+ new locations over the coming quarters.

For more information visit www.wellplaece.com.

Media Contact:
Lindsay Stevens
2132009638
[email protected]

SOURCE Wellplaece

NEW YORK, May 30, 2023 — Closed Loop Partners announced a $10 million investment in its Closed Loop Circular Plastics Fund from Japanese multinational banking and financial services institution Sumitomo Mitsui Banking Corporation (SMBC). The investment partnership aims to advance the recovery and recycling of rigid and flexible polyethylene (PE) and polypropylene (PP) plastics in the United States and Canada.

The Closed Loop Circular Plastics Fund is a key part of Closed Loop Partners’ broader strategy to reduce, reuse and recycle plastics in a circular economy. The fund focuses on PE, PP and flexible plastics––critical resin types that require additional investment to keep more material in circulation and help ensure that the industry’s demand for recycled material will be met. The fund provides catalytic debt and equity financing, spurring additional mainstream investments into recovery and recycling solutions and infrastructure that can help address bottlenecks in the recycling system. Fund performance is benchmarked according to a combination of financial and impact outcomes, including tons of PE and PP impacted, and tonnes of greenhouse gas emissions avoided or reduced.

With its investment, SMBC joins a group of leading corporate investors dedicated to the transition to a more circular economy for plastics, including Dow, LyondellBasell, NOVA Chemicals, Charter Next Generation, Chevron Phillips Chemical, SK geo centric Co. and SEE. This collaborative effort is key to advancing the recovery and recycling of plastics in the U.S. and Canada, at scale.

“SMBC is committed to sustainability, while identifying partnerships that leverage our expertise and strong footprint in the Japan and Asia Pacific region. Our team is proud to partner in the Closed Loop Circular Plastics Fund’s catalytic, impact-first effort to accelerate infrastructure, equipment, municipal services, as well as innovation and enabling technologies related to flexible films and specific plastic types,” said Masayuki Takanashi, Group Chief Sustainability Officer (CSuO) of Sumitomo Mitsui Financial Group, Inc. “Our commitment and partnership with Closed Loop Partners are part of SMBC’s steadfast commitment to our stakeholders, our local and international communities, the global environment, and the next generation.”

Since its launch in 2021, the Closed Loop Circular Plastics Fund has made several catalytic debt and equity investments to both private companies and public organizations, financing post-pilot scale projects that advance collection infrastructure, sortation capabilities, enabling technologies and re-manufacturing of PE and PP plastics, including:

• Equity investment in Greyparrot, a leading AI waste analytics platform that links to moving conveyor belts in sorting facilities to increase transparency and automation in recycling and help unlock the financial value of recycled materials;
• Loan to Myplas USA, a recycling company building a 170,000 square-foot plastic films recycling plant in Minnesota, aiming to process up to 45,000 tons of plastic waste annually at full capacity, diverting these valuable materials from landfill;
• Equity investment in Circular Services, the largest privately held recycling and reuse company in North America, including major municipal and commercial contracts;
• Follow-on loan to the Waste Commission of Scott County, a solid waste district in Iowa, to finance the purchase of new optical sorters for the county’s existing materials recovery facility.

Plastics recovery and recycling presents a significant economic opportunity, alongside the environmental upside of millions of tons of plastics diverted from landfills and the natural environment. Increasing plastics recovery, alongside material reduction solutions, scalable reuse systems and innovative new materials, can help meet an addressable market for plastics with potential revenue opportunities of $120 billion in the U.S. and Canada alone. With plastic waste expected to triple by 2060, the need for investments has grown even more urgent.

“The Closed Loop Circular Plastics Fund is a specialty strategy within our Closed Loop Infrastructure Group. SMBC joins our corporate partners, portfolio companies, subject matter experts and experienced Closed Loop Partners team to enhance the ecosystem effect that bolsters our private credit and equity solutions,” said Jennifer Louie, Head of the Closed Loop Infrastructure Group at Closed Loop Partners. “These solutions can help catalyze additional financial participation––accelerating the projects, infrastructure and innovations needed to close the loop on plastics.”

To date, Closed Loop Partners has kept 4.8 million tons of materials in circulation and contributed to the avoidance of 10.1 million tonnes of CO2e. The firm’s vision for a circular economy includes a circular future for plastics––one that reduces the need to extract virgin resources, harnesses design innovation and material science, and champions reuse models and new product delivery models. In the global transition to circularity, all sectors, industries and societies are needed to effect systemic change. Understanding these contributions to global supply chains is necessary, as investors, innovators and cities play key roles in advancing the solutions that can drive forward a global transition to a circular economy.

Interested in applying for financing from the Closed Loop Circular Plastics Fund? Learn more here.

SMBC is an investor in the Closed Loop Circular Plastics Fund. No material conflicts of interest are present as this entity did not receive any compensation for their comments.

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. Closed Loop Capital Management manages venture capital, growth equity, buyout and catalytic private credit investment strategies on behalf of global corporations, financial institutions and family offices. The Center for the Circular Economy unites competitors and partners to tackle complex material challenges and implement systemic change to advance circularity. Circular Services employs innovative technology within reuse, recycling, remanufacturing and re-commerce solutions to improve regional economic and environmental outcomes, and build resilient systems that keep food & organics, textiles, electronics, packaging and more, in circulation and out of landfill or the natural environment. Closed Loop Partners is based in New York City and is a registered B Corp. For more information, please visit www.closedlooppartners.com.

About Sumitomo Mitsui Banking Corporation

SMBC is the commercial banking subsidiary of Sumitomo Mitsui Financial Group, Inc and one of the largest banks globally on the basis of total assets. It provides an extensive range of corporate and consumer banking services in Japan and globally.

About Sumitomo Mitsui Financial Group, Inc.

SMFG is one of the largest financial institutions headquartered in Japan, with an established presence across all consumer and corporate banking businesses. Through the subsidiaries and affiliates, SMFG offers a diverse range of financial services, including commercial banking, leasing, securities, credit card, consumer finance and other services. SMFG’s consolidated total assets were 264 trillion Yen as of December 31, 2022.

SOURCE Closed Loop Partners

• Funding will support US expansion with roll out planned in major cities
• New York City location now open with trading outperforming expectations
• New investors B-Flexion and a fund managed by LionTree join Lewis Hamilton who reinvested
• Closure of Series B in Q3 2022, despite challenging investor and market back drop
• Record Q1 performance by Neat Burger’s London estate with like for like sales up 20%

NEW YORK, May 30, 2023 — Neat Burger, the plant-based food group backed by Lewis Hamilton and Leonardo DiCaprio, is expanding its global reach after successfully raising $18 million in a Series B fundraise. With operations across three territories, the company has set its sights on the United States with the opening last month of its first location in Nolita, New York.

The successful fundraise was completed in October despite the challenging macro-economic backdrop and reflects Neat Burger’s progress as a leading plant-based food company. Formula One Champion Lewis Hamilton, who is well known for his support for the environment has reinvested, as did Chimera Capital. The raise also attracted the interest of notable new investors including LionTree, New Theory Ventures, Real Madrid goalkeeper Thibaut Courtois and model and actress Sara Sampaio.

The round was led by B-Flexion, a private institutional investment firm founded by Ernesto Bertarelli, which has an increasing number of investments focused on sustainability. Commenting, Chiara Bertarelli said: “I love how Neat Burger is on a mission to make plant-based eating more accessible to everyone.  Our generation is paving the way and driving this change, with research showing once Gen-Z adopt a vegan or flexitarian diet, 70% stick with it. So, the key is getting people to try it and integrate it into their daily lives. First impressions count and Neat Burger’s approach, combining fun and sustainability, has the potential to change the world”. Being the first generation to receive climate education, young people are driving a generational shift towards plant-based diets and having spent time working in the business, Chiara, a recent Harvard University graduate, will now serve as Neat Burger’s Sustainability Advisor.

The investor support not only recognises Neat Burger’s growth potential but also its differentiated and innovative approach which prioritises an engaging restaurant experience that inspires consumer curiosity and their conversion to a meat-free and flexitarian lifestyle. The first quarter of this year saw a record performance by the group’s London restaurants with like for like sales up 20%.

Neat Burger’s decision to launch its first US restaurant in New York was a strategic move to tap into the city’s thriving foodie culture and health-conscious consumer base. Sales in its first month of operation have beaten expectations and it is the best performing store in the group’s whole estate driven by high levels of repeat purchases.

Further international expansion will follow the New York opening with restaurants to launch in Italy and the Middle East, where Neat Burger opened its first franchise in Dubai in October 2022. Neat Burger is also growing its B2B vertical, having formed partnerships with hospitality groups and businesses to help achieve their net zero ambitions.

Tommaso Chiabra, Co-Founder of Neat Burger, said: “We are thrilled to have reached this major milestone in Neat Burger’s journey with a successful fundraise from previous investors alongside an impressive group of new investors. This is a pivotal moment for our business, and it allows us to accelerate our growth plans. With the successful launch of our New York location and record first quarter under our belt, we have demonstrated the strength of our brand, and are now well-positioned to bring our award-winning plant-based food to the growing number of consumers in the US and worldwide who are embracing a healthier and more flexitarian lifestyle.”

Zack Bishti, Co-Founder and CEO of Neat Burger, said: “We see New York as a tastemaker gateway to the US and by all metrics it has been our most successful launch to date. New Yorkers have good taste and strong opinions and we’ve been thrilled to see customers continually return. We’re at the heart of the growth in plant-based diets and our proximity to the customer voice sets us apart. In response to the growing demand for cleaner ingredients, we’ve incorporated healthier options into the New York menu, while continuing to serve our growing community food that’s as sustainable as it is delicious.”

A selection of high-res photography is here: https://www.dropbox.com/scl/fo/ens7vznncb15lcoql1qji/h?dl=0&rlkey=hrazdmc19c0zdvo2vwjg9u2jn 

*https://www.prnewswire.com/news-releases/7-out-of-10-gen-z-will-keep-being-vegan-in-the-next-5-years–gen-z-is-leading-the-veganism-trend-data-says-301786163.html

Notes to Editors

Established in 2019, Neat Burger is one of the world’s fastest growing plant-based food groups. It has rapidly gained a reputation for its pioneering approach ensuring it products appeal to flexitarian and plant-based consumers alike. With a focus on high quality, fresh ingredients with no compromise on taste, Neat Burger is all about accessibility and providing people with an alternative in a fun and engaging environment. Neat Burger’s purpose is to offer ethical, sustainable and delicious plant-based food served with passion and style.

Neat Burger’s 100% plant-based menu offers a guilt-free way for health-conscious consumers to enjoy all-American classics reimagined with healthier, simple, and clean ingredients. The Neat Burger patty, made with a blend of superfoods including mung beans, quinoa, and chickpeas, is packed with healthy fats and proteins. The menu is designed to make eating plant-based an experience rather than a sacrifice, showing people that plant-based can also mean great taste. By offering a delicious and satisfying alternative to traditional fast food, Neat Burger is making “cheat days” into “neat days” and appealing to a wider audience looking for plant-based options. In June 2023, Neat Burger plans to introduce its New York menu to the group’s London locations including new healthier options and new local favourites.

Neat Burger has achieved not only a loyal fanbase but industry recognition too, having won two years running the UK’s Best Vegan Restaurant of the Year at the Deliveroo Restaurant Awards and it was nominated for the 2021 GQ Food & Drink Sustainability Award. The brand was also awarded PETA’s inaugural Company of the Year Award for its game changing approach to a plant-based diet, encouraging people to eat delicious, protein-packed plant-based meals.

Website: www.neat-burger.com 
Instagram: @neat.burger
Facebook: @neat.burger 
Deliveroo: Neat Burger  
Twitter: @NeatBurger_  

Photo – https://mma.prnewswire.com/media/2088025/Neat_Burger.jpg
Photo – https://mma.prnewswire.com/media/2088194/Ben_Slater_2022.jpg

SOURCE NEAT MEAT BURGER CO LTD

KETCHUM, Idaho, May 26, 2023 — Metalex, an emerging US mining and metals company operating across the African continent, has raised $2 million in seed funding. This funding will enable the company to expand its metal processing operations, enhance its technology platform, and grow its team.

The funding round was led by Endura Capital Management, a Sun Valley, Idaho based hedge fund. Endura has also entered into a strategic partnership with Metalex to form the $10 Million Endura Metalex African Opportunities Fund. This joint venture will provide trade finance for Metalex’s operations in its key markets.

“We are thrilled to have the support of Endura Capital and our other investors as we continue to expand our business across Africa,” said Ayo Sopitan, CEO of Metalex. “We are now well placed to build a well-oiled machine that is built on our own processing facilities with feedstock sourced and produced in partnership with local miners in our key market, Zambia as well as other geographies like Nigeria, Zimbabwe amongst others.” 

Endura Capital Management is equally excited about the partnership, with Managing Partner JD McDonnell noting, “We believe that the commodities sector in Africa represents a tremendous growth opportunity, and we are confident that our partnership with Metalex will enable us to identify and invest in the most promising sectors in this space.”

With this new funding and partnership, Metalex, under the leadership of CEO Ayo Sopitan and COO Sev Bazil, is poised to become a major player in the African commodities market, creating new opportunities for growth for host communities, as well as its investors.

Media Contact:
John David McDonnell
[email protected]
312-371-3557

Ayo Sopitan
[email protected]

SOURCE Metalex