Company’s multiple computer science courses close skills gap in U.S. high schools; partners first with the State of Tennessee

SAN FRANCISCO, May 24, 2023 — Kira Learning, the company building an AI-powered platform that allows anyone to teach and learn computer science (CS), announced today that it has closed a $15M Series A round from existing investors NEA and the AI Fund. The company also announced a partnership with the Tennessee STEM Innovation Network (TSIN), managed by Battelle Education, following a competitive RFP process, to provide all public high schools and middle schools in the state with an introductory CS curriculum and an unparalleled, integrated teaching-learning platform. TSIN, the Tennessee Department of Education, and Battelle will leverage the curriculum and platform to implement the state’s new computer science requirement in high schools.

With more states mandating CS courses, the U.S. will face a massive demand for technical teaching expertise. However, the barrier to teaching computer science is high. Co-Founder and CEO Andrea Pasinetti anticipated these needs when he launched Kira Learning in 2021. In partnership with Dr. Andrew Ng, a pioneer in the machine learning space, adjunct professor of CS at Stanford University and co-founder of Coursera, the two assembled a team of notable educators, scientists, and engineers, including former NASA Jet Propulsion Lab AI Data Scientist and Co-Founder Jagriti Agrawal, to develop the product and curriculum. The resulting solution empowers teachers and learners through cutting edge curricular solutions, a collaborative browser-based coding environment, and AI powered tools for auto-grading and student assistance. Kira Learning’s solution emphasizes engaging students in a helpful way, ensuring that they are comfortable, continuously motivated and engaged. The curriculum covers multiple programming languages and technologies and includes several course pathways covering AI, Cybersecurity, Web Development, and more.

“We’re seeing the most significant shift in K-12 education in half a century, as computer science becomes an important third pillar in K-12 education along with language and math, and we’re thrilled to join with the State of Tennessee and the Tennessee STEM Innovation Network (TSIN) as our first partner out of the gate in ensuring all students benefit from early exposure to computer science,” said Kira Learning Co-Founder and CEO Andrea Pasinetti. “We fundamentally believe this subject needs to be an equal pillar in K-12 education, alongside literacy and math skills. With the rigor that went into designing our curriculum and platform, we can take anyone from never having written a single line of code to being able to train a neural network, in just three weeks. We are excited to bring it nationwide.”

States across the U.S. are rolling out computer science requirements in phases. Tennessee has taken a proactive approach and is among the first states making CS education a high school requirement. The TSIN will make Kira Learning’s computer science courses available to all public middle and high schools in the state, at no cost to schools. Starting this Fall, every public school student preparing to graduate high school in Tennessee will be able to satisfy their computer science requirement through Kira Learning’s Introduction to Computer Science course.

TSIN Network Director Brandi Stroecker said, “We performed an extensive search to identify a partner that offers tools sophisticated enough to empower teachers of all experience levels while also providing state-of-the-art course content that is compelling for learners of any age.” Stroecker added, “By providing Kira Learning’s coursework at no cost to all middle and high school institutions through our partnership with the Tennessee Department of Education, we’re helping Tennessee educators and students build a strong foundation to thrive in today’s digital world.”

The trend is growing nationwide. Today four more states in the U.S. – Georgia, Nebraska, Nevada and South Carolina – also require students to complete a computer science course to graduate high school, and 23 more states are requiring that high schools offer at least one CS course as an elective.

“Advances in AI present an attractive opportunity to democratize teaching and learning computer science,” said Carmen Chang, Partner at NEA. “What Duolingo did for languages, we believe Kira Learning will do for computer science and AI. Specifically, we believe Kira Learning will become the destination for anyone looking to learn CS. Andrea’s experience in education and technology makes him uniquely suited to spearhead this timely effort.”

“AI coding is the new literacy,” said AI Fund General Partner and Kira Learning Chairman Andrew Ng. “When the educational system decided to aspire to full literacy, it enriched society. Given the importance of computing and AI throughout society, it’s now clear that everyone should learn these subjects. Kira Learning’s journey to bring this to all K-12 students will enrich and empower the next generation.”

Kira Learning is in active discussions with several additional states and anticipates having programs in about 20 states by this Fall. To learn more about the company and its mission to teach anyone computer science, visit Kira Learning’s website.

About Kira Learning:
Kira Learning is building an AI-powered platform that allows anyone to teach and learn computer science. Founded in 2021, the company offers a curriculum designed by notable educators, scientists and engineers, along with AI-assisted lesson planning, grading, and student assistance. Backed by investment from NEA and the AI Fund, Kira Learning is on a mission to establish computer science and AI as foundational pillars of education alongside literacy and numeracy. Find out more on Kira Learning.

About New Enterprise Associates:
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. Founded in 1977, NEA has over $25 billion in assets under management as of December 31, 2022 and invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of investing includes more than 270 portfolio company IPOs and more than 450 mergers and acquisitions. For more information, please visit www.nea.com.

About AI Fund
AI Fund is a venture studio that strives to move humanity forward by accelerating the adoption of AI. We work with entrepreneurs to build companies rapidly and increase the odds of success. We are a team of AI pioneers, operators, entrepreneurs, and investors, supported by top-tier partners including NEA, Sequoia, and Greylock. More at www.aifund.ai.

SOURCE Kira Learning

Former Salesforce Executive Joins Hakkoda to Lead Efforts in UK and Ireland

NEW YORK, May 24, 2023 — Hakkoda, the cloud data experts specializing in Snowflake, today announced it has secured new investment capital from Tercera, a growth-focused investment and advisory firm specializing in cloud professional services, Lead Edge Capital, and several additional individual investors. The funds will be used to further Hakkoda’s leadership in the healthcare and financial services industries, and extend its data and AI capabilities deeper into marketing technology (MarTech) and logistics. Hakkoda will also be using the capital to expand into the UK, Ireland, and Portugal, where Hakkoda has begun building out a services delivery center.

“We’ve seen the power of data and we know that the speed and accessibility of data determines the agility and innovation of business,” said Erik Duffield, chief executive officer at Hakkoda. “This has put Hakkoda on a rapid growth path and we are building on that demand and expanding into important markets. We experienced incredible growth last year and are excited to bring new and innovative offerings across the Atlantic.”

To drive its international expansion, Hakkoda named Stephen Barrett as Vice President of Growth for the UK and Ireland. In this role, Barrett will be responsible for growing and managing the local Hakkoda team and helping Hakkoda clients unlock the full potential of their data. He spent more than a decade at Salesforce, most recently as Vice President of Customer Transformation, Digital Customer Experience. With previous experience at companies including Ernst & Young, Position Technologies, and Model Metrics, Barrett uniquely understands how to successfully scale a services business and will bring his experience to bear for Hakkoda.

Hakkoda was recognized as the SI Americas Emerging Partner of the Year by Snowflake in 2022. With the addition of new customers, such as Advocate Aurora Health, Texas Capital Bank and TopGolf Callaway Brands, the firm is on track for 500% year-over-year growth this fiscal year. Hakkoda has become one of the most certified Snowflake partners in the Americas, with more than 100 SnowPro-certified data architects, engineers, and data scientists across the US, Canada, Mexico and Costa Rica.

“Hakkoda has demonstrated its ability to help businesses using the Snowflake Data Cloud to modernize their data stack and become data-driven organizations,” said Katie Ecklund, Senior Director of Partner Sales – Amers, at Snowflake. “The company has had great traction to date with its scalable teams model and expertise in financial services and healthcare. We look forward to working with Erik and the team as they expand into new markets.”

Follow Hakkoda:

About Tercera
Tercera is an investment and advisory firm founded to accelerate the growth of people-centric businesses. Specializing in the $460 billion cloud professional services market, the Tercera team is composed of invested operators who know first-hand what it takes to build and scale a successful cloud services business. For more information, visit: https://www.tercera.io/.

About Hakkoda
Hakkoda is a data engineering consultancy specializing in Snowflake. The company embraces a subscription model that works the way the cloud works — providing on-demand access to data engineers, architects, machine learning and application development experts. Led by a founding team with more than 150 years of collective experience in data and IT services, Hakkoda can see problems and solutions in ways others can’t. To learn more, visit https://hakkoda.io/.

Media Contact:
Cathy Summers
Summers PR
[email protected]
415-483-0480

SOURCE Hakkoda, Inc.

Hundreds of U.S. colleges now share courses through Acadeum; platform gives students access to in-demand courses from institutions and employers nationwide

AUSTIN, Texas, May 24, 2023 — Acadeum, creator of the largest course-sharing platform used by more than 460 U.S. colleges, including the Texas A&M University System, Benedict College, University of Central Missouri, and Community College of Baltimore County, today announced the close of its $11.92m Series B funding round. The round was led by Green Street Impact Partners, the fund’s first investment, along with ECMC Group’s Education Impact Fund and Pearson Ventures.

“This is about matching the vast potential of existing, high quality courses taught by talented, engaging faculty with learners who often struggle to access the classes they need to graduate on time and persist,” said Amy Bevilacqua, Managing Partner of Green Street Impact Partners. “Acadeum is changing the game for institutions working to fulfill and expand their academic mission. It is enabling learners to chart a more direct—and affordable—pathway through college.”

An April report from the National Student Clearinghouse found the number of Americans with some college credit and no degree is now 40.4 million. Research continues to indicate that course access and the class schedule are a significant barrier to learners completing their degree. Nearly a quarter of all courses are overfilled and so-called “bottlenecks,” and more than a quarter of adult learners are unsatisfied with the times of courses offered. Meanwhile, research indicates learners are interested in accessing more workforce relevant courses and certifications, while new programs remain costly and difficult for institutions to create on their own.

“Our partnership with Acadeum not only helps our students access needed courses in convenient online modalities, but also enables us to strengthen the value of our liberal arts-based education by adding additional workforce-aligned offerings,” said Dr. Marc M. Camille, president of Albertus Magnus College. “The platform has enabled us to offer cutting edge, stackable microcredentials in high demand career fields, taught by industry experts.”

In addition to facilitating the sharing of courses from hundreds of individual colleges and universities, Acadeum’s trailblazing technology platform supports sharing across national and regional consortia, including The Council of Independent Colleges Online Course Sharing Consortium, The League for Innovation in the Community College Online Course Sharing Consortium, and the Southern Regional Education Board’s HBCU-MSI Course-Sharing Consortium. Acadeum has also partnered with Coursera to allow institutions to expand their offerings of professional certificates aligned with immediate workforce needs.

“Today’s learners are older, and more likely to be parents or working, than at any point in our nation’s history. That new majority of learners are putting pressure on institutions to align course offerings with the realities of their schedules and responsibilities beyond the classroom,” said David Daniels, CEO of Acadeum. “At a moment when some are questioning the role and relevance of American colleges, we’re building tools to leverage the collective strength of our nation’s higher education system to unlock new opportunities for both institutions—and students.”

To learn more about Acadeum, please visit www.acadeum.com.

ABOUT ACADEUM 
Acadeum helps colleges and universities create academic partnerships with like-minded institutions to support student progress and equitable access to workforce opportunity. Today, more than 460 higher ed institutions use Acadeum’s course-sharing network to place students in in-demand online courses they need to stay on track for timely graduation. Institutions improve retention and completion, while also unlocking new revenue to increase financial sustainability. Acadeum’s platform enables seamless access to high quality online college courses for a wide range of learners including those in high school and working full time. To learn more about Acadeum, please visit acadeum.com.

ABOUT GREEN STREET IMPACT PARTNERS 
Green Street Impact Partners is a sector-specific private equity fund that invests growth capital in companies leveraging technologies to catalyze innovation across the education lifecycle, from K-12, to higher education, to workforce learning. As experienced investors and operators–including former policymakers, educators, and college leaders–our focus is the intersection of learning and economic mobility. For more information, visit https://gsimpactpartners.com/.

SOURCE Acadeum

New data from Kruze Consulting shows CEO salaries declining, gender pay gap shrinking and divide between thriving and surviving startups growing

SAN FRANCISCO, May 24, 2023 — Kruze Consulting, a leading CPA and finance consulting company for VC-backed startups, has released new data on startup CEO salaries. The average startup CEO salary in 2023 is $142,000, down from $150,000 in 2022 and $146,000 in 2021 and back to the same level as 2019. The decline is attributed to increasingly restricted capital markets and the resulting requirement to extend cash runways.

Importantly, the pay gap between male and female startup CEOs is closing, but remains wide after the dramatic spread that took place during the pandemic. In 2019, there was a $5,000 difference between male and female CEOs that increased to a $45,000 difference during the pandemic in 2020. In 2021 that spread lessened to a $16,000 difference and a $20,000 difference in 2022. This year, the spread has improved modestly, to a $14,000 difference between male and female startup CEOs. Male CEOs earned an average of $145,000 this year, while their female counterparts earned an average of $131,000.

Additionally, while the average salary declined, the median salary increased – a major change from the historical precedent. Currently the startup world is a tale of two realities. Startups are falling into one of two camps – those that must cut spending dramatically in order to increase runway and those that are generating revenues strong enough to justify substantial increases in CEO salaries. While a larger than normal number of CEOs are drawing zero salary so far in 2023, there is a growing number who are making salaries in the $150,000–$200,000 range.

“Startup CEO salaries are declining as a result of constrained availability of capital to startups. Investors have been advising founders to extend runways as much as possible, resulting in declining salaries,” said Healy Jones, Vice President at Kruze Consulting. “The pay gap is narrowing from the massive pandemic spread, but remains wide. We continue to advise VCs to look across their portfolio and make sure that the women who run their companies are compensated in line with their male contemporaries.”

The data comes from more than 400 of the 800+ venture funded startup clients of Kruze Consulting, spanning seed through series-b funded startups across industries such as biotech, SaaS, fintech, hardware, and other verticals. This data is pulled annually by Kruze because one of the most common questions they receive from their clients pertains to what executive compensation should be. You can learn more about how Kruze approaches this question here and here.

About Kruze Consulting

Kruze provides Startup CFO Consulting to over 800+ startups in Silicon Valley, Los Angeles, New York, and other major startup hubs. To date, Kruze’s clients have raised over $12 billion in venture capital and are market-leading Saas, software, eCommerce, eHealth and FinTech startups. Founded in 2012 by Vanessa Kruze, a Big Four alum, startup controller and CPA, the firm handles all things accounting, tax, finance, and HR. Everything including interim CFO Consulting, financial modeling, startup tax returns, venture debt consulting, 409A valuations, bookkeeping, AR/AP, and Seed/Series A/B Fundraising Preparation can be seamlessly handled by the professionals at Kruze. Visit https://kruzeconsulting.com/ to learn more.

Press Contact
Jessi West
[email protected] 
(415) 562-6005

SOURCE Kruze Consulting

At this year’s Venture Atlanta event, four pre-seed and seed startups will compete to win a $500,000 investments prize in front of a live audience.

ATLANTA, May 24, 2023 — Venture Atlanta, one of the largest venture capital conferences in the nation that supports the Southeast’s most promising tech companies, has announced a new format for founders competing in the pre-seed and seed pitch competition on September 27-28, 2023. Venture Atlanta Startup Showcase Live will partner with the Southeast’s most active venture capital firms – Catalyst by Wellstar, Florida Funders, Knoll Ventures, and Panoramic Ventures to host one of the largest pitch competitions to date.

To apply to the Venture Atlanta Showcase Live competition, submit your application here. The deadline for applications is July 28, 2023.

“Each year, the Startup Showcase attracts some of the most innovative pre-seed and seed companies in the Southeast and we feel this will be an incredible platform for those companies to have the opportunity to win the $500,000 investment. At Venture Atlanta, our mission has always been to connect companies with capital and this certainly meets that objective,” said Allyson Eman, CEO of Venture Atlanta. “We’re thrilled to strengthen our 2023 Showcase by partnering with some of the most respected venture capital firms in the region.”

Founders will have a chance to pitch well-known investors on stage in front of a live audience and win a $500,000 investment from Catalyst by Wellstar, Florida Funders, Knoll Ventures, and Panoramic Ventures.

“We’re excited to bring this new format to Venture Atlanta to give founders exposure to over 450 investors representing more than 250 funds nationwide,” said Mark Flickinger, Venture Atlanta Chairman of the Board. “This partnership speaks to the ongoing collaboration across the ecosystem to support extraordinary founders building category-leading companies across the Southeast.”

Venture Atlanta Startup Showcase Live will select 40 of the best seed stage startups in the Southeast through a competitive application process. The selected startups will participate in virtual mentoring days, and from there, 10 semifinalists will be selected during a kickoff event at the Atlanta Tech Village on September 13. The semifinalists will then go on to present on stage at Venture Atlanta. Through audience voting and investor judges, four finalists will be chosen to take the stage to compete for the ultimate prize in the grand finale pitch competition.

The competition will occur during Venture Atlanta, scheduled for September 27-28, 2023, in Atlanta at The Woodruff Arts Center and Atlanta Symphony Hall. The conference is set to sell-out again this year, building on the momentum from 2022, which recorded the largest audience ever in attendance. Venture Atlanta welcomes leading venture capitalists, startup founders, corporate enterprises, government officials, media outlets, and guest judges.

To-date, more than 760 technology companies have pitched at Venture Atlanta since the conference’s 2008 inception, of which companies have raised an aggregate of more than $7.5 billion in venture capital funding.

About Venture Atlanta
Venture Atlanta, the Southeast’s technology innovation event, is where the region’s most promising tech companies meet the country’s top-tier investors. As the Southeast’s largest investor showcase helping launch more than 760 companies and raise $7.5 billion in funding to date, the event connects the region’s top entrepreneurs with local and national investors and others in the technology ecosystem who can help them raise the capital they need to grow their businesses. The annual nonprofit event is a collaboration of the Atlanta CEO Council, Metro Atlanta Chamber, and the Technology Association of Georgia (TAG). For more information, visit www.ventureatlanta.org. For updates, follow us on Twitter and LinkedIn, and visit our blog.

About Panoramic Ventures
Panoramic Ventures is a venture capital firm that partners with extraordinary founders to drive exceptional outcomes. Since 2007, the firm has invested in the success of B2B software and tech-enabled service businesses at all stages of maturity. In addition to capital, we support entrepreneurs with access to infrastructure, acumen, and talent that results in category-leading companies. Our distinct multi-stage investment platform has driven consistent top-quartile returns over 15 years. For more information, visit panoramic.vc or follow Panoramic Ventures on LinkedIn, Instagram, or Twitter @panoramicvc

About Florida Funders, LLC
Recognized as the top VC in the Southeast region by Pitchbook, Florida Funders is a venture capital firm and angel network that invests in early-stage technology companies in Florida and beyond. The Florida Funders platform creates a unique experience that educates our community of investors, provides transparency during the funding process, fosters communication across the ecosystem, and empowers the strategic relationships that drive investments.  Our experienced team is composed of investors, entrepreneurs and advisors focused on being the most respected and impactful early-stage tech investment firm in the U.S.  To learn more, visit floridafunders.com.

About Catalyst by Wellstar
Catalyst by Wellstar is the first-of-its-kind innovation company and venture firm created and operated within a health ecosystem to holistically address healthcare disruption by harnessing problems, building solutions, deploying capital, and establishing strategic partnerships across industries. Catalyst is actively investing in Pre-seed to Series A startups that align with the company’s six focus areas: customer experience, data, digital health, future of work, supply chain and logistics, and sustainability. Visit Catalyst.wellstar.org to learn more.

About Knoll Ventures
Knoll Ventures is an Atlanta-based early-stage venture capital firm that invests in non-coastal B2B software companies at the pre-Series A stages. The Firm typically participates in a company’s first institutional financing round, supporting founders at the earliest stages of the growth process. Knoll began investing out of its second fund in 2022 and takes a long-term perspective when partnering with founders to identify ways to add value beyond just writing a check, thereby increasing the odds of long-term success.

Media Contact:
Allyson Eman
[email protected]

SOURCE Venture Atlanta

The user-friendly platform that modernizes consumer interactions through AI has achieved a significant funding milestone

SAN FRANCISCO, May 24, 2023 — Genetica, an AI powered cannabis retail platform, announces the close of its seed round. The round was led by Ensemble, CEO of Talent Resources Ventures and Genetica Adviser Michael Heller, Show Me Organics, Executives from Hara Supply, and Mitchell Harounian. The support from investors allows Genetica to expand into more dispensaries across the country and other retailers outside of the cannabis industry, like grocery stores and pharmacies. The company is on pace to launch its software into more than 350 locations here in the United States and dozens of retail and pharmacy entities internally over the next quarter.

Genetica‘s Flora AI, the underlying technology powering its suite of products, brings a new level of detail to consumer experiences in the cannabis and CBD industries. Its flagship product, Flora Match, leverages Flora AI to deliver personalized product recommendations by analyzing over 650 million data points, including in-store inventory, customers’ dietary habits, activity levels, age, medical conditions, and desired effects. This state-of-the-art AI tool complements the role of store employees, opening up the potential for upselling and add-on sales, thereby driving revenue growth. The Genetica product suite is set to expand later this year with Flora OS, an all-in-one operating system using AI to optimize all retail operations.

Genetica CEO Ben York brings diversified experience to the Genetica team as an operator and investor in the cannabis industry. “We’re so lucky to have this incredible roster of strategic investors on hand to enable our expansion across the US and abroad. Their faith in our mission has empowered us to broaden our scope beyond the cannabis sector. Our ultimate goal is to increase revenues and customer loyalty for a diverse range of retailers through data-driven product recommendations and business insights.”

Reed Woodson, Managing Partner at Ensemble stated, “We’re so excited for the next stage of Genetica‘s development and growth. Their use of AI to personalize the customer experience and unlock new revenue opportunities for retailers is exactly what the cannabis industry needs right now. We’re not just investing in a platform, we’re investing in the future of retail – one that is data-driven, personalized, and highly effective. We’re excited to be part of Genetica’s journey as they modernize the cannabis industry and reshape the broader retail sector.”

About Genetica:
Established in 2020, Genetica is at the forefront of modernizing the cannabis and CBD industries with Flora AI, its pioneering platform. Flora AI analyzes over 650 million data points to provide precise product recommendations, ensuring customers find the perfect product in line with their needs, biochemistry, and current in-store inventory. This state-of-the-art tool not only enriches the customer experience but also empowers store employees, paving the way for effective upselling and increased loyalty. With a profound understanding of the historical and cultural significance of cannabis, Genetica is committed to helping retailers navigate and thrive in this rapidly evolving market. Experience the transformative power of Flora AI and unlock your cannabis and CBD retail business’s full potential. Learn more at getgenetica.com.

Media Contact: 
Tiffany Cummins 
925-212-4200 
[email protected] 

Andrew Fern 
612-669-8103 
[email protected] 

SOURCE Genetica

TORRANCE, Calif., May 24, 2023 — GITAI USA Inc. and GITAI Japan Inc. (GITAI), the world’s leading space robotics company, has completed a Series B Extension round of funding totaling 4 billion yen (approximately US$30 million) to accelerate and expand their business and technology development in the US.

The funds raised in this round will be primarily used to achieve the following objectives:

• Enhancing the Technology Readiness Level (TRL) of GITAI’s Lunar Robotic Rover and Lunar Inchworm Type Robotic Arm.
• Expanding the Engineering Model/Flight Model Manufacturing Facilities in the US.
• Further expansion of employment in the US.

“We are thrilled to further expand our operations in the US,” said Sho Nakanose, GITAI’s Founder & CEO. “While SpaceX and BlueOrigin are reducing the cost of transportation to space by 100 times, we at GITAI are taking on the challenge of reducing labor costs by 100 times. We will provide the most labor for the Moon and Mars and build infrastructure such as solar panels, communication antennas, fuel generators, and habitation modules.”

In this round, GITAI raised funds through a third-party allotment from the following companies and funds, mainly from existing investors:

• Global Brain CVC Funds
• EP-GB L.P. (SEIKO EPSON CORPORATION / Epson X Investment Corporation / Global Brain Corporation)
• JGC MIRAI Innovation Fund L.P. (JGC JAPAN CORPORATION / JGC HOLDINGS CORPORATION / Global Brain Corporation)
• KURONEKO Innovation Fund L.P. (YAMATO HOLDINGS CO., LTD. / Global Brain Corporation)
• KDDI Open Innovation Fund III L.P. (KDDI CORPORATION / Global Brain Corporation)
• DCI Venture Growth Fund (Daiwa Corporate Investment Co., Ltd.)
• The Dai-ichi Life Insurance Company, Limited
• ANRI III Investment Limited Partnership
• ANRI I-II-III Annex Investment Limited Partnership
• NVC No.1 Limited Liability Partnership (NVenture Capital / NEC Capital Solutions Limited)
• JIC Venture Growth Fund 2 Investment Limited Partnership (JIC Venture Growth Investments Co., Ltd.)
• Electric Power Development Co.,Ltd.（J-POWER）
• Mitsubishi UFJ Capital Ⅸ, Limited Partnership (Mitsubishi UFJ Capital Co., Ltd.)

About GITAI:
GITAI is the world’s leading space robotics startup, aiming to provide safe and affordable labor in space and reduce operational costs by 100 times. GITAI is developing highly capable, safe, and reliable robots to help build and maintain satellites, space stations, lunar bases, and cities on Mars.

Company: GITAI USA Inc. (Los Angeles), GITAI Japan, Inc. (Tokyo)
CEO: Sho Nakanose
URL: https://gitai.tech/
Contact Us: [email protected]
Phone: 424-587-1787

< Press Kit >

SOURCE GITAI USA, Inc.

The leading company with a whole-blood approach for chronic wound treatment, RedDress delivers a 72% wound closure rate in just 12 weeks for diabetic patients suffering from lower extremity wounds

TEL AVIV, Israel and JACKSONVILLE, Fla., May 24, 2023 — RedDress, a personalized and autologous wound management solution created from patients own blood, today announced that it has raised a $26 million Series D round with participation from ATHOS Biopharma GmbH, and other life science investors including Investors Group of HCS Capital and the Ragnar Crossover Fund. The new proceeds will support increased adoption of its product suite, establishment of global partnerships, and the expansion of RedDress’ proprietary blood-based technology to treat more conditions. The latest investment round brings total funding for RedDress to $43M.

Blood clots are the body’s natural way of healing, yet when it comes to chronic wounds from diabetes and other conditions, blood is unable to reach these areas to begin the coagulation and healing process. The first line of defense in treating chronic wounds has always been bandages, negative pressure and specialized dressings. Skin substitutes, a heavily overcrowded market, is another approach, but are very costly and are non-autologous. Between fifteen to twenty-five percent (15-25%) of the US diabetic population gets diabetic ulcers annually, which translates to 1.5 million diabetic wounds per year. The average wound costs the government $12–$15k per wound to treat and if amputation is required, there is an 85% mortality rate after the procedure. The costs to government-run medical programs and to patients themselves is unsustainable.

RedDress has pioneered a proprietary blood-based technology to treat chronic wounds that has almost zero risk of rejection and is far more cost effective. Its ActiGraft product family is an autologous, point-of-care wound management solution that creates – in real-time – an in-vitro blood clot from patients’ own whole blood. Once applied to the wound, the blood clot jump-starts the wound healing process, serves as a protective covering, and optimizes the body’s own healing potential. The ActiGraft product family can be used for a wide variety of chronic wounds including diabetic and neuropathic ulcers, venous ulcers, pressure injuries, traumatic wounds, post-surgical wounds, skin tears, surgical wounds and more.

“Healing is in our blood, and we are grateful for the continued support from our investors as we advance our mission of supplying healthcare providers with an effective solution to treat chronic and complex wounds through an innovative system that harnesses the power of patient’s own blood,” said Alon Kushnir, CEO and co-founder at RedDress. “This latest funding round further validates the efficacy and strong market performance of the ActiGraft system and provides us with critical resources to expand our autologous, blood-based wound care solutions so we can continue to develop new innovations in other healthcare fields.”

Since RedDress received FDA clearance and a CE Mark in 2020, ActiGraft has helped over 6,000 patients across the spectrum of healthcare facilities in the United States and 30 other countries.

About the Suite of ActiGraft Products
ActiGraft and ActiGraft+, based on RedDress’ proprietary patented technology, are FDA-cleared wound care solutions that enable health care providers to produce – in real-time – an in-vitro blood clot from a patient’s whole blood. Once applied, the blood clot serves as a protective covering and supports wound healing processes which naturally occur in the patient’s body. For full prescribing information, visit www.reddressmedical.com/safety-info.

About RedDress
RedDress is the leading provider of personalized and autologous wound management solutions created from patients’ own blood. The company’s suite of ActiGraft products are revolutionizing wound care, treating a wide variety of chronic wounds including diabetic and neuropathic ulcers, venous ulcers, pressure injuries, traumatic wounds, post-surgical wounds, skin tears, surgical wounds and more. ActiGraft wound care systems are available in 40 countries across five continents including Brazil, Canada, Hong Kong, India, Mexico, Turkey, United Arab Emirates, South Africa, Ireland, Italy, and more. RedDress is a privately held, Israel-based company with a U.S. subsidiary, RedDress Inc., located in Jacksonville, Florida. Founded in 2009 with the goal of developing more effective, natural, and economically viable treatments for chronic wounds, RedDress is dedicated to using its whole-blood technology to find solutions to other human ailments. For more information, please visit www.reddressmedical.com.

SOURCE RedDress

Novisto triples revenue, customers, and employee headcount year-over-year, emerging as the global leader in ESG data management and raising the bar for the industry

MONTREAL, May 24, 2023 — Novisto, a Montreal-based ESG data management software company, has successfully raised USD$20 million in a Series B funding round, led by Inovia Capital. The round includes new investments from Portage Ventures and SCOR Ventures, and participation from existing investors White Star Capital and Diagram Ventures. Novisto will use these funds to accelerate its product development and market expansion.

As the demand for standardized, audited, and digitized corporate sustainability reporting grows, ESG reporting has become a critical requirement for companies worldwide. With governments such as the European Commission and regulators such as the U.S. Securities and Exchange Commission (SEC) heeding the call for regulated sustainability-related disclosures, organizations need a structured and organized approach to accurately define and address complex ESG issues, opportunities, and challenges. Novisto’s comprehensive data management platform provides a solution that enables companies to future-proof their ESG data and reporting against more stringent disclosure requirements.

The sustainability reports companies release today lack standardization and are failing to provide actionable information to enable investors and other stakeholders to make ESG-related decisions. A structured ESG strategy is essential for companies to align their values with their actions, manage risk, and drive long-term value creation. Novisto has quickly emerged as a leader in ESG data management, supporting major global companies — including Asana, Manulife, and Sanofi, among others — to improve their ESG data collection and reporting, in order to better manage key sustainability risks and opportunities and drive long-term value creation.

“We are thrilled to have the support of such a strong group of investors as we continue to grow and expand our platform,” said Charles Assaf, CEO and co-founder of Novisto. “This funding round will allow us to further develop our product offering and continue to provide our customers with the best possible solutions for ESG data management, so that they can make better decisions that contribute to the sustainability of the economy, environment, and society.”

The funding will enable Novisto to scale its product development and continue to provide best-in-class ESG data management solutions to its new and existing customers across a wide range of companies, industries, and geographies. The funds will also be used to grow Novisto’s existing customer base as well as expand the team across the globe to support the exponential increase in demand for ESG data management. 

”Consistent with our mission of supporting global enduring tech companies, we’re honored to work with Novisto, as they progress in their objective of creating a more sustainable future” said Magaly Charbonneau, Partner at Inovia. “It’s a critical time for sustainability initiatives to be taken seriously, and Novisto’s platform helps companies produce quality, audit-ready ESG data that enables them to make quantifiable, meaningful change.”

“As a publicly-traded company, data is foundational to how we earn the trust of our stakeholders and we have a longstanding commitment to industry-leading ESG disclosure,” said Hélène V. Gagnon, Chief Sustainability Officer and Senior Vice President, Stakeholder Engagement at CAE. “Novisto is supporting us on enhancing the accuracy and robustness of our ESG data while strengthening data accountability across the organization. We’ve been with Novisto since its launch and we’re proud to continue our work to develop transparent reporting that reflects the progress of our ESG program.”

Launched in 2019, Novisto has over 100 employees located in North America and Europe and is headquartered in Montreal, Canada. To learn more, please visit www.novisto.com.

About Novisto
Novisto contributes to the sustainability of the economy, environment, and society by empowering companies to make better decisions and disclosures through our ESG data management software. Founded in Montreal in 2019, Novisto is building the ERP for ESG, enabling companies to leverage a data-centric approach to better report on and manage their sustainability-related issues. Novisto is a private company backed by Inovia, White Star Capital, Diagram Ventures, Portag3 Ventures and SCOR Ventures. For more information, please visit: www.novisto.com.

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SOURCE Novisto