GWTT is a full-service provider of commercial water treatment services, including process and design engineering, system construction and startup, operations & maintenance, system optimization, and equipment sales and rentals. GWTT self-performs the vast majority of critical-path project milestones, mitigating risk and simplifying logistical challenges. GWTT has 25+ years of experience partnering with clients to solve complex water treatment challenges, including the cleanup of Superfund and former manufactured gas plant sites, civil and infrastructure dewatering, coal ash pond closure, and treating for emerging contaminants of concern that include PFAS compounds, 1,4-dioxane, hexavalent chromium, and many others, addressing some of the most important water quality challenges in the United States.
GWTT has been ranked in the Engineering News-Record Top 200 Environmental Firms (ENR 200) in each of the last six years.
“Ember is very excited to be partnering with the seasoned team at GWTT as we look to augment the company’s ability to support more projects in the Northeast, Mid-Atlantic, and additional markets as its customers pull them into new geographies,” said Ember Principal Caleb Powers, who will join the Company’s Board of Directors. “GWTT, with Ember as a financial partner, now has the capability to grow all segments of our business, including expansion into new geographic markets. With a partner like Ember, the opportunities for GWTT and our employees increase significantly, and we could not be more excited about the path ahead,” said GWTT President Rich Worthington.
Greenberg Traurig, LLP acted as legal adviser to Ember Infrastructure. Raymond James & Associates, Inc. acted as financial advisor and Winston & Strawn LLP acted as legal advisor to GWTT.
About GWTT
GWTT designs, fabricates, installs, and operates dewatering and water treatment systems throughout the United States. GWTT’s service and product portfolio delivers innovative, customized, integrated water treatment solutions. GWTT’s headquarters and equipment fabrication center are located in Wharton, New Jersey, and the company also maintains a regional service center in Millbury, Massachusetts. For more information, please visit www.gwttllc.com.
About Ember Infrastructure
Ember is a private equity firm investing in businesses delivering infrastructure solutions that reduce carbon intensity, enhance resource efficiency, and increase resilience to climate impacts. Headquartered in New York City, Ember invests across the energy transition, water, waste, and industrial sectors. For more information, please visit www.ember-infra.com.
Advancing a new class of alpha radioligand therapies based on lead-212 (Pb212), a best-in-class alpha-emitting isotope
Lead program, AB001, in the clinic for the treatment of prostate cancer
Co-founded by radiopharmaceutical veterans Roy Larsen, Ph.D., and Øyvind Bruland, M.D., in collaboration with F-Prime Capital and Radforsk, with backing from Omega Funds
Led by an experienced team of industry and radiopharmaceutical experts, including founding CEO Emanuele Ostuni, Ph.D., Chairman Ted W. Love, M.D., and independent director Susanne Schaffert, Ph.D.
CAMBRIDGE, Mass. and OSLO, Norway and LONDON and BASEL, Switzerland, June 21, 2023 — ARTBIO, Inc. (ARTBIO), a clinical-stage radiopharmaceutical company developing a new class of targeted alpha radioligand therapies (ART), announced its founding with a $23 million seed financing led by F-Prime Capital with Omega Funds. ARTBIO was founded in 2021 by Roy Larsen, Øyvind Bruland, Radforsk, and F-Prime Capital to create highly targeted cancer therapies by pairing the optimal alpha-emitting isotope Pb212 with ligands against proven tumor-specific targets. ARTBIO is also creating an entirely new approach to ART manufacturing to overcome production and distribution challenges. In early 2022, Emanuele Ostuni, formerly Head of Europe for Cell and Gene Therapy at Novartis Oncology, joined ARTBIO as CEO to start building its world-class team and advance its proprietary technology, while securing additional funding from F-Prime Capital and Omega Funds.
The financing enables ARTBIO’s ongoing clinical development of its lead program AB001 for the treatment of prostate cancer. The funds will enable the company to advance a differentiated pipeline, further develop its AlphaDirect™ Pb212 isolation technology, and expand its distributed manufacturing network.
“Our unique approach combines Pb212 best in class properties with rationally designed ligands against tumor-specific targets to unlock the full therapeutic potential of alpha radioligand therapy,” said Emanuele Ostuni, Ph.D., Chief Executive Officer of ARTBIO. “Many cancer patients still have few or no treatment options. We focus on ARTs with Pb212 because they can selectively deliver lethal energy to tumors in an optimal timeframe, resulting in better outcomes for patients and easier management by health care professionals. We are equally focused on building a distributed manufacturing ecosystem to maximize the potential of these therapies through a footprint tailored to the short half-life of Pb212.”
A New Approach for Alpha Radioligand Therapy (ART) ARTBIO’s unique approach is underpinned by a deep understanding of cancer biology and the infrastructure needed to effectively design, manufacture and distribute ARTs.
There are four distinct pillars of development:
The ideal alpha-emitter profile: Pb212 has a short half-life that matches the properties of the small molecule carriers used by ARTBIO, delivering most of its energy into the tumor quickly.
A differentiated pipeline of ARTs: ARTBIO has one asset in clinical development, with additional assets in rapid pre-clinical development, each focusing on addressing unmet medical needs.
Distributed ART manufacturing ecosystem: The company is building an end-to-end distributed manufacturing network for reliable and fast delivery of therapeutic candidates to the bedside.
Proprietary Pb212 isolation technology: ARTBIO’s AlphaDirect™ technology delivers highly pure Pb212 from widely available raw materials.
An Expert Leadership Team ARTBIO has assembled a world-class team of talented professionals spanning multiple disciplines and categories.
“ARTBIO’s team is highly skilled and passionate, bringing together a unique combination of expertise in the radioligand space, drug development and oncology,” said Ted W. Love, M.D., Chairman of the Board at ARTBIO. “I believe that ARTBIO’s approach represents the future of radioligand therapy that will radically advance cancer care.”
The leadership includes:
Management Team
Emanuele Ostuni, Ph.D., Chief Executive Officer; Former Head of Europe for Cell & Gene Therapy for Novartis Oncology
Bharat Lagu, Ph.D., Sr. Vice President and Head of Discovery; Former Head of Drug Discovery at Mitobridge (acquired by Astellas)
Victor Paulus, Ph.D., Sr. Vice President and Head of Regulatory Affairs; Former SVP of Regulatory Affairs at Fusion and Advanced Accelerator Applications.
Vicki Jardine, M.D., Ph.D., Vice President of Clinical Development; Former Senior Clinical Development Leader (Alpha Radioligand Therapies) at Bayer
Gjermund Olsen, Director of Manufacturing; Former Head of Technology Development (Radiotherapies) at Bayer
Scientific Advisory Board
Øyvind Bruland, M.D.; ARTBIO SAB Chairman and Co-founder
Roy Larsen, Ph.D.; ARTBIO Co-founder
Oliver Sartor, M.D.; Director of Radiopharmaceutical Trials, Mayo Clinic
Richard P. Baum, M.D.; President of the International Centers for Precision Oncology (ICPO) Academy and a Consultant at the Advanced Center for Radiomolecular Precision Oncology (RPO) at Curanosticum Wiesbaden-Frankfurt
Dennis Benjamin, Ph.D.; Former Head of R&D at Seagen
Board of Directors
Ted W. Love, M.D.; Chairman of the ARTBIO Board; Chair of Biotechnology Innovation Organization’s (BIO) Board of Directors
Alex Pasteur, Ph.D.; Partner at F-Prime Capital
Otello Stampacchia, Ph.D.; Managing Director and Founder at Omega Funds
Roy Larsen, Ph.D.; ARTBIO Co-Founder, Founder of Sciencons
Anders Tuv, Partner at Radforsk
Susanne Schaffert, Ph.D.; ARTBIO Independent Director; Former President of Novartis Oncology and Advanced Accelerator Applications
Emanuele Ostuni, Ph.D.; Chief Executive Officer of ARTBIO
Martin Taylor, Ph.D.; Senior Associate at F-Prime Capital (Observer)
Francesco Draetta; Partner at Omega Funds (Observer)
“ARTBIO is a global company that was incubated in Europe, where there has been much innovative development in the radioligand therapy space,” said Alex Pasteur, Ph.D., Partner at F-Prime Capital. “Roy and Øyvind are serial entrepreneurs responsible for developing the only alpha particle emitting radiopharmaceutical product currently on the market. We look forward to working with this team to support the development of their pipeline and advance their vision of creating alpha radioligand therapies that are accessible, effective, and safe for patients around the world.”
About ARTBIO ARTBIO is a clinical-stage radiopharmaceutical company redefining cancer care by creating a new class of alpha radioligand therapies (ARTs). The unique ARTBIO approach selects the optimal alpha-emitting isotope (Pb212) and tumor-specific targets to create highly targeted therapeutics. The company’s AlphaDirect™ technology, a first-of-its-kind Pb212 isolation method, enables a distributed manufacturing approach for the reliable production and delivery of ARTs. ARTBIO is advancing three pipeline programs with lead program AB001 currently in first in human trials. ARTBIO is shaped by a long-standing scientific legacy with nearly a century of pioneering work in radiation therapy conducted at the University of Oslo and Norway’s Radium Hospital. For more information, visit www.artbio.com, and follow us on LinkedIn (@artbio-inc) and Twitter (@artbio_inc).
About F-Prime Capital F-Prime Capital is a global venture capital firm investing in healthcare and technology to solve the greatest challenges in health and medicine while delivering on the conviction that everyone deserves a gold standard of care. For over 50 years and with a portfolio of nearly 300 companies and counting spread across the Americas, Europe, and Asia, our independent venture capital group combines singular and deep expertise in life science, healthcare, and technology to identify and support founders with the next big ideas in therapeutics, medtech, and healthcare IT and services. With over $4.5 billion dollars under management, our team has created or co-created over 30 companies including Denali, Beam, Innovent, Orchard and Sana and has helped build many others including Blueprint Medicines, Iora Health, PatientPing, Devoted Health, Prime Medicine and Ultragenyx. F-Prime is headquartered in Cambridge, MA, with offices in London, UK and San Francisco, CA. For more information, please visit www.fprimecapital.com and follow us on Twitterand LinkedIn.
About Omega Funds Founded in 2004, Omega Funds is a leading international venture capital firm that creates and invests in life sciences companies that target our world’s most urgent medical needs. Omega focuses on identifying and supporting companies through value inflection points across the full arc of innovation, from company formation through clinical milestones and commercial adoption. Omega Funds’ portfolio companies have brought 49 products to market in multiple therapeutic areas, including oncology, rare diseases, precision medicine and others. Please visit www.omegafunds.com for additional information.
About Radforsk Radforsk is an oncology focused investment company dedicated to developing immunotherapies, precision medicine and radiopharmaceuticals. The fund has an evergreen structure allowing flexibility and focus on investments that will create long-term value. Radforsk’s investment model is based on very active ownership as investors and also hands-on company builders. Radforsk portfolio of companies spans from early start-ups to public companies with products on the global market. Radforsk is heavily involved in developing a sound life sciences ecosystem in Norway to ensure that portfolio companies and new innovations have beneficial conditions enabling success. Radforsk is behind and has supported some of the most successful oncology biotechs in the Nordics. For more information, please contact Chief Investment Officer Anders Tuv ([email protected])
BNY Mellon, Euroclear join existing strategic investors J.P Morgan, S&P Global, Jefferies, Deutsche Börse Group, Barclays, Citi and SGX in the final close of Illuminate’s third fund.
LONDON, June 21, 2023 — Illuminate Financial, a financial services-focused venture firm, has closed its third fund, a $235 million fund to invest in early-stage businesses solving problems for financial institutions.
Major Financial Institutions Back Specialist Investor, Illuminate Financial, in new $235 million Venture Fund
Illuminate Financial will use the capital to make further investments in Series A companies driving innovation in the financial services industry. Illuminate Financial’s investors include some of the largest and most well-respected financial institutions that provide a broad array of banking and market infrastructure services. The final close of this fund sees Illuminate welcoming two additional strategic partners, BNY Mellon and Euroclear, who join global financial institutions J.P Morgan, S&P Global, Jefferies, Deutsche Börse Group, Barclays, Citi and SGX as investors.
Marianna Lopert-Schaye, Global Head of Digital Partnerships and Investments at BNY Mellon said: “We are thrilled to be a strategic investor in Illuminate Financial as part of our commitment to fulfilling BNY Mellon’s mission to identify ground-breaking digital technologies, bring greater operating efficiencies to the market, and help accelerate the delivery of innovative solutions to clients worldwide.”
Philippe Laurensy, Head of Group Strategy and Product Expansion, Euroclear Group said: “This investment is aligned to our corporate strategy of embracing new technologies and investing in companies which share our commitment of developing services that will address market gaps to support and grow the market. Illuminate Financial is a logical partner with their proven track record of success when scanning the market for the best opportunities, creating value and driving positive change.”
The announcement of Fund III builds upon the firm’s momentum since its inception 9 years ago. To date, Illuminate Financial has invested in 35 companies of which it has successfully exited 9, primarily through trade sale to industry strategics. Illuminate Financial has opened offices in New York and Singapore, and Fund I is ranked as the #1 fund in Europe for distributions (2015 vintage) according to Cambridge Associates.
Mark Beeston, Founder and Managing Partner at Illuminate Financial said, ‘The reset of private market valuations over the past 18 months makes this arguably one of the most exciting times to deploy early-stage capital since the bursting of the dot com bubble over 20 years ago. My partners and I are grateful for the support of our investors old and new in recognising the opportunity this environment creates for fintech entrepreneurship, and its ability to create lasting change in financial services.”
“Global spending on technology by financial institutions continues to grow, even in this market, and is forecasted to reach a staggering $750 billion by 2025“ said Alexander Ross, General Partner who leads Illuminate’s New York office. “Since Illuminate was started, we have partnered with financial institutions to identify how these budget dollars could be more efficiently allocated by adopting early stage, innovative, lower costs solutions – the type that Illuminate Financial exists to back.”
Founded by financial services veteran Mark Beeston in 2014 and operated alongside Partners Alexander Ross, Rezso Szabo, Rachel Townend and Luca Zorzino, the firm now comprises 20 team members across New York, London and Singapore.
About Illuminate Financial Management
Illuminate Financial is a thesis-driven venture capital firm, focused on FinTech and enterprise software companies defining the future of financial services. Illuminate Financial’s deep networks and trusted partnerships with key industry participants provide real insight into what the industry needs and helps their portfolio companies achieve their full potential.
Nothing in this press release should be viewed as a statement of the named institutions’ experience with, or endorsement of, Illuminate Financial and it is not known whether the listed institutions approve of Illuminate Financial, or the advisory services provided. Past performance is not indicative of future results. The contents of this press release should not be construed as legal, tax, investment or other advice, or a recommendation to purchase or sell any particular security.
– New Funding Follows Rapid Growth of Enterprise-focused AI Tools, with 1,100+ Customers Using FLUX Products –
TOKYO, June 21, 2023 — FLUX Inc., Japan’s leading AI platform developer, announced 4.4 billion JPY (approximately US$32 million) in Series B funding led by DNX Ventures, and including existing investor Archetype Ventures and new investors Japan Co-Investment, Aozora Corporate Investments, Salesforce Ventures, Sony Innovation Fund, SMBC Nikko Securities, and NTT Docomo Ventures.
This additional funding brings FLUX’s total funds raised to 5.6 billion JPY (approximately US$40 million), and accelerates FLUX’s continued development of FLUX AI — a no-coding AI platform.
FLUX AI allows businesses to easily leverage AI technologies such as predictive analytics, natural language processing (NLP) and large language models (LLMs), without requiring any prior coding skills or knowledge.
In recent years, the business environment has been rapidly changing due to the emergence of AI technologies such as LLMs and generative AI. Despite these advancements, many companies in Japan struggle to adopt AI technologies into their businesses due to a lack of expertise and talent needed to understand and implement them. In order to tackle these challenges, FLUX has formed a team of experts to carry out in-depth research and service development within the AI technology field.
FLUX AI is an AI platform that underpins several no-code solutions that allow businesses to easily incorporate AI technologies into their operations.
When developing solutions that include optimization or predictive analytics capabilities, it generally takes a significant amount of time and development cost to structure the available data in a way that the AI can use it. FLUX is able to efficiently develop AI-based solutions because every solution is built on the same FLUX AI architecture.
FLUX collects over 100TB of data each month across its services, which are stored in a common database. Those data are used to train its models to increase performance for each service, while maintaining compliance with data governance best practices and privacy regulations.
Over 1,100 publishers and advertisers are using FLUX services, with enterprise customers making up the largest customer segment. Throughout the past few years of rapid growth, the churn rate across FLUX services has stayed low at 0.2%, indicating strong customer satisfaction.
Growth strategy and use of funds
FLUX will leverage the funds raised for three primary purposes to fuel its continued growth in the Japanese B2B software market.
1. Enhancement of current products
FLUX AI’s applications today focus on digital advertising and marketing, with solutions for optimizing ad revenue, ad operations, and online audiences. Development will continue on each of these services to further improve their effectiveness and maximize ROI to customers. New features in development include the use of generative AI for marketing applications such as generating ad creatives and content. FLUX will continue to provide a range of services that help to solve various challenges within the advertising and marketing industry.
2. Horizontal expansion
FLUX aims to leverage the FLUX AI platform to bring the benefits of AI to functions beyond advertising and marketing. There are many other business functions which could be made simpler or more efficient through leveraging AI, and FLUX will continue to develop simple solutions for its clients to increase productivity and decrease operational costs.
3. AI research
Since its founding, FLUX has conducted research on AI technologies ranging from predictive analytics to NLP and LLMs. The Series B funding will accelerate these research efforts as well as enabling hiring of more AI engineers.
– New investors: Japan Co-Investment, Aozora Corporate Investments, Salesforce Ventures, Sony Innovation Fund, SMBC Nikko Securities, and NTT Docomo Ventures
– Debt financing: Resona Bank, Shoko Chukin Bank
About FLUX
FLUX is a venture-backed startup which develops no-code AI platform FLUX AI. Several no-code solutions are based on FLUX AI, each of which enables businesses to leverage AI in their operations. FLUX’s mission is to maximize ROI for its clients by simplifying technology.
Digital Healthcare Company for Gen Z Secures $16.75M Series A Funding Led by Maveron and GV; Virtual Healthcare Services Now Available in Ten States – California, Colorado, Pennsylvania, Illinois, Massachusetts, Michigan, New Jersey, New York, North Carolina, Ohio
NEW YORK, June 20, 2023 — Caraway, a digital healthcare company for Gen Z, announced a series of milestones and expansions to fundamentally change how Gen Z experiences healthcare. To advance the development of its Gen Z care platform and scale its services, Caraway today announced $16.75M in Series A funding. The round is led by Maveron, investor in consumer-only and early-stage companies, and GV. Returning investors include 7wireVentures and Hopelab Ventures, with new participation from Wellington Access Ventures, Ingeborg Investments and The Venture Collective. OMERS Ventures, a seed stage investor in Caraway, will remain on the Board.
Furthering its expansion across the nation, Caraway also announced that it is rolling out its virtual care services in six more states: Colorado, Pennsylvania, Illinois, Massachusetts, Michigan and New Jersey. Along with existing states, California, New York, North Carolina and Ohio, this brings the total to ten states that will offer access to 44% of 18-29 year olds enrolled in post-secondary institutions, including colleges and universities, trade and vocational schools.
In just one year, Caraway has built an inclusive care model that addresses the multitude of healthcare challenges facing Gen Z by providing mental, physical and reproductive healthcare, 24/7, all in one place. Caraway’s diverse care team of experienced clinicians provides comprehensive and compassionate care tailored to this population’s needs and concerns. With its on-the-ground, grassroots approach, the company’s ongoing engagement with Gen Z informs all of its products, services and educational content. The funding round will be used to expand access to Caraway’s ground-breaking care platform purpose-built for Gen Z people of all races, ethnicities, gender identities and expressions.
“Gen Z’s health is on the front lines and the only way to meet their needs is to design a new way forward,” said Caraway CEO & Co-founder Lori Evans Bernstein. “With the tsunami of unmet need, our inclusive care platform gives Gen Z – and in particular women and those assigned female at birth who have been underserved by traditional models – instant access to both the immediate health services and ongoing education they need to take care of themselves today and in the future.”
Healthcare has yet to catch up with the needs of Gen Z, the largest, most diverse and disruptive population, and their care options are inadequate.
As Gen Z faces this unprecedented healthcare crisis, they lack access to care and a trusted consumer experience built for their mobile-first expectations. They’ve been excluded from their healthcare decision making and the healthcare system is not meeting their growing needs.
Caraway provides care for members 24/7 through chat, phone, and video visits, as well as health skills building with interactive digital tools, coaching and care navigation. Caraway’s clinicians work together as one Care Team with the understanding that the mind and body are connected, and therefore physical, reproductive and mental care must go hand-in-hand. The Care Team is composed of experienced nurse practitioners, physicians, specialists, therapists, and health advisors with expertise spanning primary care, urgent care, adolescent health, gynecology, psychiatry and psychotherapy.
“Maveron invests in early stage companies that empower consumers to live on their own terms,” said Maveron Partner, Anarghya Vardhana. “Caraway supports young adults in a way traditional health care models do not, fundamentally changing their healthcare experience. We are excited to help Caraway’s extraordinary team continue to build a consumer-first company that directly engages with the Gen Z population giving them access to a care platform and high quality healthcare tailored to their needs.”
“GV is proud to be an early investor in Caraway, and we are excited to support the team as they create a new standard of healthcare for the Gen Z population,” said Cathy Friedman, GV Executive Venture Partner. “Caraway is led by a seasoned, mission-driven management team adept at navigating the complexities of the healthcare system. Caraway’s unique approach provides comprehensive mental, physical, and reproductive healthcare for better patient outcomes.”
“We are thrilled to make a follow-on investment in Caraway,” said Margaret Laws, president and CEO of Hopelab, a transformative social innovation lab and impact investor at the intersection of tech and mental health. “We are particularly excited to continue supporting Caraway as they expand their offerings for BIPOC and LGBTQ+ patients, as well as those on Medicaid. Caraway not only understands a unique gap within the healthcare system but offers a solution that focuses on populations routinely overlooked by traditional models of care. Their exceptional progress is a model for others pushing the impact of telehealth innovation while also advancing health equity goals.”
“What Lori and the entire Caraway team have accomplished in such a short period of time is compelling,” said Alyssa Jaffee, partner at 7wireVentures. “Now more than ever, a renewed focus on promoting and supporting the fundamental healthcare rights of women is critical. Caraway is already making a real difference in the health of young women, those AFAB, and by providing personalized care for all. With this new funding round and the addition of strong like-minded investors, Caraway will meaningfully expand their ability to serve more health consumers across the country.”
About Maveron Maveron is a venture capital firm that focuses on early-stage investments in consumer-oriented businesses. It was founded in 1998 by Dan Levitan and Howard Schultz, the former CEO of Starbucks. Maveron has a particular interest in companies that are disrupting traditional industries and creating innovative consumer tech brands. They have invested in various successful companies such as eBay, Zulily, Allbirds, Modern Fertility, and Everlane. Their goal is to support entrepreneurs who are building compelling consumer brands and experiences. In healthcare in particular, Maveron invests widely, including critical areas, like mental health, pediatrics, primary care, women’s health, and rare disease.
About GV GV supports innovative founders moving the world forward. We invest across the life sciences, consumer, enterprise, crypto, climate, and frontier technology sectors.
With Alphabet as a sole limited partner, GV operates on long time horizons and deals in decades, not rounds. Our operating partners support startups at the earliest stages of company-building across design, equity, diversity & inclusion, talent, and engineering. We also help startups interface with Google, providing unique access to the world’s best technology and talent.
Launched as Google Ventures in 2009, GV has over $8 billion in assets under management and 400 active portfolio companies across North America and Europe. Notable investment outcomes include Uber, Nest, Slack, GitLab, Duo Security, Flatiron Health, Verve Therapeutics, and One Medical. GV is headquartered in the San Francisco Bay Area, with offices in Cambridge, New York, and London.
About Caraway Caraway is a digital healthcare company for Gen Z providing mental, physical & reproductive healthcare services, all in one place. Caraway’s experienced care team delivers 24/7 access to integrated, evidence-based care tailored to 18-29 year olds. In response to an unprecedented need for mental health resources and new barriers and persistent inequities in women’s health, Caraway built an inclusive care platform that is instantly accessible, always available, comprehensive, and equitable. Caraway’s services are designed for and centered around women and individuals who were assigned female at birth (AFAB), and personalized for all, so members can get the care they need when they need it. Caraway’s healthcare services are available via its mobile app in the Apple App Store and on Google Play. For more information, visit us at Caraway.health and follow us on LinkedIn, Twitter, Instagram and TikTok.
Construction of the third segment of the NTE 35W project in Fort Worth, Texas was completed three months ahead of schedule
The 6.7-mile section of the I-35W represents an investment of more than $1 billion
The project supports Ferrovial’s ongoing commitment to investing in America’s infrastructure
AUSTIN, Texas, June 20, 2023 — Ferrovial, a global leader in infrastructure solutions, today announced the completion of the third segment of the North Tarrant Express (NTE) 35W project in Fort Worth, Texas. The inauguration was celebrated with the traditional ribbon-cutting ceremony, together with regional, state, and federal officials, as well as Ferrovial Chairman Rafael del Pino, CEO Ignacio Madridejos, and other executives of the company.
NTE 35W Segment 3C Alliance Connector
“We are proud of our history building projects in North Texas,” said Madridejos. “The visionary leaders in this area have been pursuing congestion relief for many years, and their proactive approach has paid off as the region continues to thrive.”
Representing an investment of more than $1 billion, this 6.7-mile section of I-35W from N. Tarrant Parkway to Eagle Parkway in Fort Worth consists of improvements with the reconstruction of main lanes, expanded frontage roads, and the addition of TEXpress Lanes. The completed project will offer drivers safer, more reliable choices when traveling through the region.
A concession led by Ferrovial subsidiary Cintra financed and designed the new highway system and will operate and maintain this segment along I-35W on behalf of the Texas Department of Transportation (TxDOT). In addition to Cintra, which is the majority stakeholder (53.7%), equity partners include Meridiam (17.5%) and APG (28.8%). Completed three months ahead of schedule, the roadway was constructed by Ferrovial Construction and Webber, also subsidiaries of Ferrovial.
“We are grateful to the Texas Department of Transportation and our other public partners that helped make this project possible,” said Alberto Gonzalez, CEO of Cintra, US. “This is another example of how public administrations and private enterprise can work together to produce transportation solutions that benefit drivers and our communities.”
Through this public-private partnership, the NTE 35W Segment 3C project was constructed at no cost to the State of Texas. As of today, Ferrovial’s total investment in Texas highways amounts to more than $7 billion.
“There is an incredible sense of accomplishment when you complete a major infrastructure project like the rebuilding and expansion of Interstate 35W. We had over 130 firms working on the project, generating significant economic impact to the region, and were able to complete the project ahead of schedule thanks to the work of our great team,” said Angel Luis Sanchez, CEO of Ferrovial Construction, US & Canada. “Their attention to detail and quality is in line with the high standards Ferrovial sets for its projects,” added Jose Carlos Esteban, CEO of Webber.
With US headquarters in Austin, Texas, Ferrovial’s businesses span transportation infrastructure, construction, waterworks, and energy. Cintra, a global leader in innovative transportation solutions, through its assets, has generated more than $22 billion in economic impact in the US. Cintra and its partners manage more than 90 miles in the US, with five managed lanes projects: LBJ Express (LBJ), North Tarrant Express (NTE) & NTE 35W, in Dallas-Fort Worth, Texas; I-77 Express, in Charlotte, North Carolina; and I-66 Express, in Northern Virginia. Ferrovial Construction has worked on projects including the SH 99 Grand Parkway in Houston, a section of California High-Speed Rail, the I-285/SR 400 Interchange in Atlanta, and the I-35 NEX in San Antonio. Webber is a leading Houston-based construction company that specializes in heavy civil, waterworks, energy and infrastructure services and is dedicated to safely providing intelligent solutions to its clients and community.
Ferrovial recently announced plans to apply for listing in the US.
About Ferrovial
Ferrovial is a global infrastructure operator committed to developing innovative solutions for a world on the move. With more than 70 years of experience, its family of companies holds leadership positions in transportation infrastructure, construction, waterworks, and energy. The company operates in 15 countries, and its activities are mainly concentrated in the USA, Spain, the United Kingdom, Canada, and Poland. Ferrovial Holding U.S. is headquartered in Austin, Texas, with over 4,000 employees across the country. For more information, visit ferrovial.us
New infusion of capital enables NewHaptics to accelerate the development of an affordable refreshable braille and tactile graphics display for blind people
ANN ARBOR, Mich., June 20, 2023 — NewHaptics, an innovative tactile display technology company, announced it has raised growth capital from the Accelerate Blue Fund. This represents the Company’s first round of venture funding, and is a meaningful milestone towards commercializing an affordable refreshable braille and tactile graphics display.
“We are excited to partner with Accelerate Blue in order to further our development efforts,” said NewHaptics co-founder Alex Russomanno. “This investment complements the funding we have raised from government grants, and enables us to continue improving the capabilities and performance of our product and prepare for its commercial launch.”
“ABF was created to support companies like NewHaptics,” said Don Manfredi, Associate Director of Ventures at U-M Innovation Partnerships. “We provide patient, early stage growth capital to U-M licensed companies with the potential to positively impact society. NewHaptics’ braille display will significantly change so many lives for the better and we are happy to support their mission with our investment.”
NewHaptics technology is aimed at enabling increased access to braille in digital form and allowing blind people to interact with spatial content through digital formats. It supports the Company’s mission to improve information access for people who are blind and enable them to reach information parity with their sighted counterparts, particularly in Science, Technology, Engineering and Mathematics (STEM) fields.
About NewHaptics NewHaptics was founded with the goal of improving the lives of people who are blind by enabling true digital interaction using the sense of touch. The company has its roots in the affectionately named “Holy Braille Project” that focused on developing novel technology to enable the creation of a large-area tactile display for the blind. Since spinning off from the University of Michigan in 2018, NewHaptics has raised funding from federal and state grants to support commercialization activities.
About Accelerate Blue Fund The Accelerate Blue Fund (ABF) is an early stage venture fund that exclusively invests in University of Michigan (U-M) licensed startups. The goal of Accelerate Blue is to bridge the funding gap between initial launch and angel/VC funding for startups based on University of Michigan intellectual property (IP).
New investment adds to recent $5 million venture funding to speed development of lung cancer detection product using advanced metasurface technology
SAN JOSE, Calif., June 20, 2023 — LEADOPTIK Inc., a Silicon Valley-based medical imaging company today announced that it has secured venture capital funding from Applied Ventures, LLC. This new injection of capital augments a recently announced $5 million over-subscribed seed venture funding round led by MetaVC Partners with participation fromSOSV,Sony Innovation Fund,TSVC,ENEA, and others. This will allow LEADOPTIK to move to the next stage of product development, including FDA approval, on the path to commercialization.
“We are excited to be an investor in LEADOPTIK,” said Yuan-Ping (YP) Huang, Principal of Applied Ventures, the venture capital arm of Applied Materials, Inc. “We see metamaterials, particularly optical metasurfaces and flat optics based on materials engineering capabilities, enabling a new wave of innovative products that can be smaller, faster, and less costly than traditional optics.”
LEADOPTIK is developing a miniaturized imaging system that aims to herald a completely new level of real-time imaging deep inside the human lung, enabling early diagnoses of cancer. Combining novel nanofabrication of metasurface technology, the company’s product is designed to empower surgeons to view objects that are fifty times smaller than what is possible with current imaging systems, leading to earlier and better detection.
By using proprietary optics made from dielectric metasurfaces, LEADOPTIK has shrunk the optical elements to a size comparable with that of human hair. Due to its unprecedented small size, driven by advanced imaging software, the probe can travel through even the narrowest airways, allowing for real-time imaging and detection of tiny tumors. In addition, the small form factor of LEADOPTIK’s probe allows its integration with biopsy needles, providing real-time guidance during biopsy procedures. This integration is critical for increasing the accuracy of biopsies, which are often performed blindly.
“Applied Ventures is an outstanding deep-tech investor and technology advisor for us,” stated Reza Khorasaninejad, Founder and CEO of LEADOPTIK. “We are thrilled with this additional investment and the wealth of expertise that accompanies our collaboration with one of the global leaders in nanofabrication,” he further emphasized.
About LEADOPTIK
LEADOPTIK Inc. is a deep-tech startup based in San Jose, California. This company is building a miniature imaging platform that will deliver an Image-Guided Biopsy for Early Lung Cancer Diagnosis. For more information about LEADOPTIK and its technology, please visit www.leadoptik.com.
About Applied Ventures
For more than a decade, Applied Ventures, LLC—the venture capital arm of Applied Materials, Inc.—has been turning possibilities into reality by investing in startups with disruptive technologies. Among the innovations we have helped to pioneer are smartphones, high-performance computing, augmented and virtual reality (AR and VR), driverless cars, big data, life sciences, robotics, cleantech, and advanced materials. Applied Ventures is stage agnostic and invests up to $100M per year. To date, we have invested in more than 90 companies in 18 countries. More information on Applied Ventures can be found on our website.
Safran Corporate Ventures participates in an 8.5 M€ Seed extension round.
Vyoma is developing a disruptive space object monitoring system and satellite operations automation services to guarantee the safety of space assets.
The funds will be used to accelerate Vyoma’s growth and the partnership will explore sensor diversification and data fusion.
MUNICH, June 20, 2023 — Vyoma, a Germany-based Space Situational Awareness (SSA) and Space Traffic Management (STM) company, announces the closure of its Seed round with Safran Corporate Ventures as co-investor. Safran’s venture capital arm funds transformative technologies and supports deep-tech companies that have the potential to reshape the European aviation, space and defense sectors.
Vyoma’s founding team. From left to right: Dr. Luisa Buinhas, Christoph Bamann and Dr. Stefan Frey.
Revolutionising the space industry, Vyoma will launch space-based telescopes for monitoring objects (space debris and satellites) down to a few centimeters, from low-Earth orbits to Geostationary orbits. Reliable SSA data provided by this monitoring system, coupled with space traffic management services, will empower safe and efficient satellite operations. The first units of the telescope fleet will be launched in 2024. By monitoring space traffic 24/7, Vyoma contributes thus to Europe’s geostrategic autonomy and space sovereignty.
The additional funding provided by Safran Corporate Ventures not only validates Vyoma’s vision but also the company’s potential for rapid growth and impact in the industry. With the development of its first telescopes well under way, this investment will be used to strengthen Vyoma’s team, expand its customer base and solidify its market position. Vyoma will also work in partnership with various Safran branches to further develop groundbreaking sensor technologies.
Commenting on the investment, Dr. Stefan Frey, co-founder and CEO of Vyoma says: “This strategic investment is a testament to the importance of cross-country alliances in Europe, to ensure our continent both drives tech innovation and remains at the forefront of space intelligence. We are very excited to work with Safran going forward, in the frame of this investment, and remain thankful to our existing investors – Happiness Capital, Atlantic Labs, and Faber – for their continued support in keeping our orbits safe!”
Florent Illat, Head of Safran Corporate Ventures, states: “For Safran Corporate Ventures, this investment in a Germany-based New Space startup reflects our strategy of supporting companies developing disruptive technologies that are strategic for Safran and in line with French-German collaboration to strengthen the European Union’s sovereignty.”
This latest investment completes an extended Seed financing round during the Summer of 2022, led by Happiness Capital and Atlantic Labs, and complemented by Lisbon-based Faber Ventures.
About Vyoma:
Vyoma is a Munich-based company that leverages ground-based and soon, space-based data to empower automated satellite operations. Officially founded in August 2020, Vyoma enables real-time space traffic management in congested orbits around Earth. While space is becoming increasingly crowded, Vyoma provides safe and automated satellite operations services, drastically reducing mission costs for its customers. The company’s operations services range from detection of close approaches between satellites and debris and optimisation of manoeuvres, all the way to full automation. Vyoma tenders to operators, reinsurers and space agencies.
