NEW YORK, June 12, 2023 — The National Kidney Foundation (NKF) is proud to announce its latest investment through the NKF’s Innovation Fund in Klinrisk, an artificial intelligence-based medical device company. Klinrisk is dedicated to transforming the early identification and management of high-risk chronic kidney disease (CKD) through accurate clinical risk prediction and decision support.
The NKF’s Innovation Fund, established to drive advancements in kidney health, has a track record of supporting innovative solutions that improve health equity and outcomes for kidney disease patients. Recent investments include partnerships with Relavo and MediGo to enhance health equity through the development of cutting-edge technology.
Klinrisk, an important addition to the NKF’s Innovation Fund portfolio, has developed highly accurate, lab-based prediction models that identify high-risk CKD early. These models enable healthcare professionals to intervene at the earliest stages of the disease, preventing a lifetime of dialysis and transforming patient outcomes.
“My own journey as a kidney transplant recipient has shown me the urgent need for early identification and intervention in chronic kidney disease,” said Kevin Longino, CEO of the National Kidney Foundation. “Klinrisk’s innovative use of artificial intelligence has the potential to revolutionize CKD care and improve the lives of millions of patients. By investing in Klinrisk through our Innovation Fund, we are furthering our mission to advance kidney health and ensure equitable access to life-changing innovations.”
The collaboration between the NKF and Klinrisk underscores their shared commitment to advancing kidney health and improving health equity. By investing in Klinrisk’s groundbreaking technologies, the NKF’s Innovation Fund aims to accelerate the adoption of risk-based care models and ensure that effective interventions are deployed at the earliest possible stage, particularly among underserved populations.
“My vision has always been focused on bringing risk-based care to patients with chronic kidney disease,” said Navdeep Tangri, co-founder of Klinrisk. “We now have an abundance of effective therapeutics that can slow CKD progression and prevent cardiovascular events, yet they are not reaching the majority of patients until very late in the journey. Effective care for high-risk CKD starts early, and Klinrisk is committed to changing the way CKD is recognized and treated, and to eliminate kidney failure for most patients and families. Our goals are completely aligned with the NKF, making this partnership a natural fit.”
With the support of the NKF’s Innovation Fund, Klinrisk will further enhance its predictive models and expand their implementation across healthcare systems. The ultimate goal is to enable timely interventions that prevent the progression of CKD, reduce the burden of kidney failure, and improve the quality of life for millions of patients, regardless of their socio-economic background.
Launched in 2021, the NKF Innovation Fund works to accelerate funding, development, and commercialization of therapies that kidney patients need and deserve. The fund invests in early to mid-stage companies that are developing innovative, patient-centric kidney therapies. The long-term goals of the NKF Innovation Fund are to prevent kidney disease, eliminate the transplant waitlist, and provide better, safer treatments for dialysis patients so they can live fuller and more productive lives. For more information about the NKF Innovation Fund visit kidney.org/innovationfund.
About Kidney Disease In the United States, 37 million adults are estimated to have kidney disease, also known as chronic kidney disease—and approximately 90 percent don’t know they have it. About 1 in 3 American adults are at risk for chronic kidney disease. Risk factors for kidney disease include: diabetes, high blood pressure, heart disease, obesity, and family history. People of African American, Hispanic, American Indian, Asian, or Pacific Islander descent are at increased risk for developing the disease. African Americans are almost four times more likely than White Americans to have kidney failure. Hispanics are 1.3 times more likely than non-Hispanics to have kidney failure.
About National Kidney Foundation The National Kidney Foundation (NKF) is the largest, most comprehensive, and longstanding patient-centric organization dedicated to the awareness, prevention, and treatment of kidney disease in the U.S. For more information about NKF, visit www.kidney.org.
2023’s first cycle of grants issued as part of $20MM philanthropic commitment following transformative merger with Columbia Bank
LAKE OSWEGO, Ore., June 12, 2023 — In its first community grants cycle of 2023, the Umpqua Bank Charitable Foundation, a 501(c)(3) organization of Umpqua Bank, under the parent company Columbia Banking System, Inc. (Nasdaq: COLB), has awarded 78 grants to local nonprofits across its footprint totaling $417,000.
Umpqua’s community grants this cycle support nonprofit organizations across Oregon, Washington, California, Idaho and Nevada, and are part of the Bank’s overall foundation and corporate giving program that has invested $17.4 million in communities since the foundation was formed in 2014.
“Each of the nonprofits selected displays an exemplary service mindset and a deep commitment to improving economic prosperity for under-resourced individuals, families and small businesses,” says Randy Choy, vice president of philanthropy programs and managing director of the Umpqua Bank Charitable Foundation. “We’re honored to partner with them by investing in their critical work, and we look forward to supporting many more organizations in 2023 through our giving and volunteerism programs.”
This is the first of three grant cycles in 2023, and the first cycle following the close of the merger between Umpqua Bank and Columbia Bank in March of this year. Following the completion of the merger, Umpqua Bank and parent company Columbia Banking System disbursed $20 million to the charitable foundation to sustain the foundation’s historic charitable giving levels and activate millions more each year.
“The Umpqua Bank Charitable Foundation is central to how we will continue to show up in support of each and every community we serve,” says Umpqua Bank Chief Marketing Officer David Moore Devine. “We issued this initial $20 million disbursement to the foundation at the outset of our future together to strengthen our commitment and ensure we will continue investing in our communities with greater impact and scale in the years ahead.”
This cycle’s recipient organizations were selected from among hundreds of applicants, with a demonstrated commitment to improving economic prosperity for under-resourced individuals, families, and small businesses in at least one of the following areas: college, career and technical readiness; financial competency; housing stability and homeownership; entrepreneurship and business expansion; small business support and financial guidance; family engagement and resiliency; vibrant and equitable neighborhoods; and technical and digital connectivity.
The following recipients received grants between $5,000-10,000:
OREGON
Organization
Adelante Mujeres
Arts Council of Pendleton
Assistance League of Klamath Basin
CASA of Douglas County
Childrens Healing Art Project, Inc.
Community LendingWorks
Connected Lane County
Corvallis Neighborhood Housing Services, Inc.
Free Geek
Girls Inc of the Pacific Northwest
Housing Northwest, Inc.
Kor Community Land Trust
Neighborhood Nonprofit Platform (No One Left Offline)
Northeast Oregon Economic Development District
Portland Community Reinvestment Initiatives, Inc.
Portland Housing Center
Reach Community Development, Inc.
Reedsport Church of God
Schoolhouse Supplies, Inc.
SE Works, Inc. (BankWork$)
SMART Reading
Wallowa County Business Facilitation
WASHINGTON
Organization
Asia Pacific Cultural Center
Communities in Schools of Benton-Franklin
Communities Rise
Ellensburg Downtown Association
Habitat for Humanity International, Inc. (Seattle)
Habitat for Humanity International, Inc. (Tacoma)
Homesight
Homestead Community Land Trust
Interfaith Hospital Network (Family Promise of Spokane)
Junior Achievement of Washington (Franklin County)
Junior Achievement of Washington (King and Spokane Counties)
Pizza Klatch
SNAP Financial Services
South Sound Outreach Services
Swan Vocational Enterprises
Tacoma Urban League
United Way of Benton & Franklin Counties
United Way of Lewis County
Urban League of Metropolitan Seattle
Vanessa Behan
Ventures
Wing Luke Memorial Foundation
Youth Eastside Services
YouthCare
CALIFORNIA
Organization
Boys & Girls Clubs of Contra Costa
College Track
Diablo Valley College Foundation
Financial Beginnings (California)
Friends of the Children-Los Angeles
Jacobs & Cushman San Diego Food Bank
JVS-SoCal (BankWork$)
Mission Bit
Mutual Housing California
North Marin Community Services
Opportunity Junction, Inc.
Orange County Community Housing Corp
Petaluma Ecumenical Properties
Richmond Neighborhood Housing Services
Shelter Providers of Orange County, Inc.
Stand Up for Kids
The Tower Foundation of San Jose State University
TMC Community Capital
United Way of the Bay Area
Up Valley Family Centers of NAPA County
Valley Contractors Workforce Foundation
West Enterprise Center, Inc.
Womens Empowerment
Working Solutions CDFI
Yuba Sutter Economic Development Corporation
Zero 8Hundred, Inc.
IDAHO
Organization
Boise Rescue Mission
Habitat For Humanity International, Inc. (North Idaho)
NEVADA
Organization
Arts for All Nevada
Big Brothers Big Sisters of Northern Nevada
About Umpqua Bank Umpqua Bank is a subsidiary of Columbia Banking System Inc., and a premier regional bank in the Western U.S., operating in Oregon, Washington, California, Idaho, Nevada, Utah, Arizona and Colorado. With over $50 billion of assets, Umpqua combines the resources, sophistication and expertise of a national bank with a commitment to deliver personalized service at scale. The bank consistently ranks as one of America’s Best Banks (ranked by Forbes) and supports consumers and businesses through a full suite of services, including retail and commercial banking; Small Business Administration lending; institutional and corporate banking; equipment leasing; and wealth management. The company is headquartered in Lake Oswego, Oregon, and trades under the ticker symbol COLB on the Nasdaq. Learn more at https://www.umpquabank.com.
About the Umpqua Bank Charitable Foundation The Umpqua Bank Charitable Foundation, a 501(c)(3) organization of Umpqua Bank, recognizes the importance of building healthier, more resilient, better connected and inclusive communities throughout the eight-state footprint. It works to strengthen the communities Umpqua Bank serves by investing in organizations and initiatives that expand access to education and create economic opportunity for individuals, families and small businesses. The foundation was formed in 2014 to demonstrate Umpqua’s deep commitment to the communities it serves and has distributed more than $17 million across the bank’s footprint.
MIAMI, June 12, 2023 — Ironforge, a serverless Solana development platform that improves the developer experience and streamlines integration of the Solana blockchain into existing systems, released its private beta today following a $2.6 million pre-seed raise. The round was led by Reciprocal Ventures and saw significant contributions from Hash3, 6th Man Ventures, Alchemy, Monoceros Ventures and Portage Ventures.
Developing blockchain applications, especially on Solana, is a complex and ever-changing endeavor due to the novel nature of the technology. Ironforge abstracts away much of this complexity to enable Solana developers to instead focus on the unique and innovative aspects of their projects. The platform is built on low-latency, globally distributed Edge Runtimes that simplify app integration and provide Solana developers with a slate of highly demanded features such as low-cost retrieval of indexed account data, RPC smart routing and failover, automatic parsing, developer-defined cache controls and many other features.
“I’ve had the longstanding conviction that blockchain’s potential won’t be unlocked until web3 devs have access to frameworks and tooling that are similar to what we’ve grown accustomed to in web2,” says Italo Casas, CEO of Ironforge. “We created Ironforge to ensure developers need to do as little undifferentiated work as possible, devoting as much of their time and energy towards the thing that makes their product unique.”
The pre-seed announcement comes at a time of renewed focus on developer engagement and ecosystem growth on Solana. Solana has recorded consistent month over month growth in active addresses on the network in 2023; as of the end of May, the chain saw over 12.67 million active addresses, representing 64.1% MoM growth1. Qualitative indicators for ecosystem growth have also started the year strong; Grizzlython, the largest hackathon in the history of the Solana ecosystem, concluded in Q1 with over 800 submissions and $5 million in total prizes and seed funding awarded to Solana devs. As the number of Solana users and builders return to the network following the 2022 downturn, platforms such as Ironforge are pivotal to improve developer experience and usher in the next generation of applications on the network.
“The Ironforge platform has the potential to become the global standard for creating applications on Solana,” said Craig Burel, Partner at Reciprocal Ventures. “By providing a seamless and delightful developer experience, we expect Ironforge will accelerate the utilization of web3 across the broader developer ecosystem.”
Carl Vogel from 6th Man Ventures added, “Ironforge lowers the barrier to configure, deploy and maintain production grade programs on Solana, accelerating innovation cycles and enabling developers to spend more time on feature development. We are thrilled to back Ironforge as they make Web3 development as seamless as Web2.”
The introduction of Ironforge is a watershed moment for Solana developers. This first fundraise has empowered Ironforge to move from ideation to production, and expand its team to include several rising stars from the Solana developer community. Those interested in learning more about Ironforge are now free to join the waitlist for platform access.
BUFFALO, N.Y., June 12, 2023 — HELIXintel, an innovative platform providing building management, predictive analytics, and equipment management solutions, has concluded a successful and competitive Series A funding round, strategically positioning the company for significant growth and expansion.
National Grid Partners, the corporate venture and innovation arm of National Grid, led the round. Earlier investors, including Munich Re Ventures, Stellifi, Motivate Ventures and others, all participated in the round.
HELIXintel’s CEO, Jon DeWald, speaks during an event hosted by National Grid Partners in May 2023. (Photo courtesy of National Grid Partners)
HELIXintel is at the forefront of transforming the building management space. In the current landscape, property managers, vendors, insurers, and energy companies face fragmented data collection, reliance on multiple software platforms, and limited communication channels. This leads to data gaps, heightened property risk, increased equipment breakdown and down time, and poor energy performance.
HELIXintel offers a comprehensive platform that sources and organizes property and asset data on a significant scale. Businesses can empower themselves by making strategic and informed decisions, unlocking hidden value within their properties and assets. This fuels engagement, transparency, and benefits all stakeholders in traditionally opaque industries.
“This new capital and National Grid’s network help us expand our product offerings and reach,” said Jon DeWald, CEO of HELIXintel. “We recognize that every stakeholder benefits when equipment breakdown is accurately predicted and prevented. We are poised to empower proactive maintenance and equipment upgrades that enhance efficiency, minimize downtime, and bring cost savings to both our valued customers and insurance companies.”
National Grid, a leading provider of electricity, natural gas, and clean energy services to millions of customers in New York and Massachusetts and Great Britain, has long been at the forefront of embracing innovation and scalable energy technologies. In 2018, the company established National Grid Partners (NPG), a dedicated venture and innovation division, to further amplify its commitment to driving positive change in the industry. National Grid’s investment in HELIXintel underlines its dedication to reaching net-zero emissions from its gas and electric networks by 2050.
With a strong focus on reducing energy demand, National Grid is actively implementing comprehensive energy initiatives and robust demand response programs. By doubling the rate of efficiency retrofits within the building sector, National Grid aims to ignite a significant transformation in energy consumption patterns. HELIXintel’s cutting-edge platform plays a pivotal role in this strategy, seamlessly connecting property and asset stakeholders and enabling data-driven property management. Through this strategic relationship, National Grid and HELIXintel are fostering more efficient and sustainable operations across the industry.
“HELIXintel embodies the kind of transformative innovation National Grid Partners seeks to support,” said Lisa Lambert, Chief Technology & Innovation Officer of National Grid and Founder & President of National Grid Partners. “Their predictive analytics and equipment management solutions have the potential to disrupt the energy and utility sector, enabling businesses to proactively address risks and enhance operational efficiency. We are excited to invest in HELIXintel and contribute to their growth as they pave the way for a more sustainable and resilient future.”
“HELIXintel’s integration of vital equipment data onto a single platform, empowers property owners, contractors, OEMs, insurers, and energy companies with excellent transparency and value,” stated Timur Davis, Director at Munich Re Ventures. “Aligned with our investment focus on tools enabling preventative maintenance to mitigate equipment breakdowns, HELIXintel has consistently impressed us with their strong growth and progress since the Seed round. We eagerly anticipate the company’s ongoing advancements.”
The strategic partnership between HELIXintel and Munich Re’s HSB has been a driving force behind the growth and industry influence of HELIXintel. This collaboration brings together HELIXintel’s intuitive equipment management technology with over 150 years of HSB’s expertise in equipment breakdown. Since the inception of the partnership, HELIXintel has rapidly expanded its presence across the nation, delivering innovative insurance technology solutions to prestigious clients such as the New York Schools Insurance Reciprocal and its 345 public K-12 Member Districts and BOCES. Together, HELIXintel and HSB are upleveling the way equipment risks are managed and paving the way for enhanced efficiency and protection in the insurance industry.
Ahead of its Series A funding round, HELIXintel unveiled its latest innovation, HELIXintel Savings Scout™. This groundbreaking service is specifically designed to assist businesses in identifying and applying for various forms of free funding, including rebates, grants, and tax credits, for operational and capital improvements. The business solution discovered incentives worth over $240,000 targeted at future cost reduction for a school in the Eastchester Union Free School District, highlighting substantial opportunities for improved efficiency and financial gains. HELIXintel Savings Scout™ further solidifies the company’s position as a frontrunner in the equipment management industry, while propelling the future of equipment efficiency and a climate of continuous improvement.
“HELIXintel Savings Scout™ represents a transformative solution that opens doors to unparalleled opportunities for businesses,” stated DeWald. “We are committed to maximizing efficiency and minimizing costs, and our innovative business solution exemplifies this vision. We can assist businesses in unlocking untapped potential and achieving remarkable outcomes.”
This new investment round signifies a milestone in HELIXintel’s mission to empower businesses by leveraging their platform as a Predictive and Preventive Engine™. Through strategic relationships with HSB, National Grid Partners, and a strategic HVAC partner, HELIXintel reinforces its leadership position in the equipment management industry while driving advancements in equipment efficiency and a culture of ongoing enhancement.
About HELIXintel: HELIXintel sources and organizes the world’s property and asset data. HELIXintel provides tools for insurers to better manage risk, property managers to manage their portfolio, energy companies to deliver incentives that improve energy and resource efficiency, and vendors to deliver better quality. HELIXintel has been recognized by Pepco, the utility serving Washington D.C., as the most innovative energy-saving solution of the year. HELIXintel also boasts SOC 2 Type 2 certification, continuing its commitment to cybersecurity. For more information on HELIXintel, visit their website.
About National Grid Partners: National Grid Partners (NGP) is the venture investment and innovation arm of National Grid plc, one of the largest investor-owned energy companies in the world. NGP invests for strategic and financial impact and leads companywide disruptive innovation efforts. The organization provides a multi-functional approach to building startups, including innovation (new business creation), pathfinding and incubation, corporate venture capital, business development and venture acceleration. We also convene the NextGrid Alliance (www.ngalliance.energy), a network of senior executives from more than 100 worldwide utility companies. NGP is headquartered in Silicon Valley and has offices in Boston, London, and New York. Visit ngpartners.com or follow us at www.twitter.com/@ngpartners_ and www.linkedin.com/showcase/national-grid-partners.
About Munich Re Ventures (MRV): Munich Re Ventures is the venture capital arm of Munich Re Group, one of the world’s leading providers of reinsurance, primary insurance, and insurance-related risk solutions. With more than $1 billion in assets under management, Munich Re Ventures invests in the most innovative start-ups transforming the future of risk and risk transfer. MRV’s experienced investors are financially driven, while focused on the strategic interests of Munich Re and the broader insurance industry. MRV works closely with Munich Re Group businesses across the globe to fund and partner with the best emerging companies developing new technologies and business models – and risks – for tomorrow’s world.
About Hartford Steam Boiler (HSB): HSB, part of Munich Re, is a multi-line specialty insurer and provider of inspection, risk management, and IoT technology services. HSB insurance offerings include equipment breakdown, cyber risk, specialty liability, and other coverages. HSB blends its engineering expertise, technology, and data to craft inventive insurance and service solutions for existing and emerging risks posed by technological change. Throughout its 150-year history, HSB’s mission has been to help clients prevent loss, advance sustainable use of energy and build deeper relationships that benefit businesses, public institutions, and consumers. HSB holds A.M. Best Company’s highest financial rating, A++ (Superior). For more information, visit www.hsb.com.
SAN DIEGO, June 12, 2023 — NanoImaging Services (“NIS”), the leading provider of cryo-electron microscopy (“cryo-EM”) services to the pharmaceutical and biotechnology communities, announced today that it has received a growth equity investment from Ampersand Capital Partners. Members of the NIS management team joined Ampersand in the financing. The company will use this investment to support its worldwide growth initiatives, including expanding microscope capacity and adding complementary services to further serve the needs of existing and future customers.
NIS was founded in 2007 with the vision to make cryo-EM workflows accessible to all. Subsequent advances in cryo-EM technology have enabled the technique to become an essential tool used in structure-based drug discovery as well as in later stage drug development applications, including antibody development, virus and vaccine studies, characterization of drug delivery vehicles, and biomanufacturing QA/QC. NIS and its founders, Clint Potter and Bridget Carragher, have played pivotal roles in developing these applications for industry. As the largest commercial provider of cryo-EM services today, NIS remains at the forefront of innovation and new application development for this powerful technique.
Peter Glick, Chairman of NIS, commented, “We are thrilled to have Ampersand joining NanoImaging Services as an investor and on the Board. We have built the leading pharma services company for cryo-electron microscopy, and Ampersand’s support will fuel our continued growth in both structural biology for drug discovery and nanoparticle characterization to support drug product manufacturing.”
David Parker, General Partner at Ampersand Capital Partners who has joined NIS’s Board, added, “NanoImaging Services is an excellent fit with Ampersand’s strategy of partnering with specialized pharmaceutical services providers that have established leadership positions in attractive market segments based on differentiated science, strong technical expertise, and high service quality. We look forward to supporting the NIS team to accelerate the company’s next phase of growth and further expansion of the cryo-EM market.”
Financial details of the transaction were not disclosed.
About NanoImaging Services, Inc.
NanoImaging Services, Inc. was launched in 2007 to provide imaging services to the pharmaceutical, biotechnology, and nanotechnology communities. We have since built a client-focused organization with a reputation for expertise, reliability, and collaboration. NIS is committed to expanding our service capacity through microscope acquisition, workflow automation, recruitment and training of top talent, and development of new service offerings. Our state-of-the-art facilities include a range of electron microscopes, sample preparation equipment, and computational infrastructure to support structural biology and nanoparticle characterization workflows. NIS is the largest and most comprehensive provider of TEM and cryo-EM services to the industrial life science market. For more information, visit: www.nanoimagingservices.com.
About Ampersand Capital Partners
Founded in 1988, Ampersand is a middle market private equity firm with $3 billion of assets under management dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit ampersandcapital.com or follow us on LinkedIn.
CloudZero provides the fastest way to gain detailed visibility into cloud costs, optimize consumption, and drive savings
BOSTON, June 12, 2023 — On the back of another year of triple-digit growth, CloudZero announced today that it closed $32 million in Series B funding to expand its cloud cost intelligence platform. The round was led by Innovius Capital and Threshold Ventures with continued support from existing investors Matrix Partners, Underscore VC, and G20 Ventures. As part of the financing, CloudZero welcomes Justin Moore from Innovius Capital to its board of directors and Arpit Mittal from Threshold Ventures as a board observer.
In a world where every business is focused on driving cost savings, CloudZero is addressing one of the largest and most opaque expense buckets for modern organizations — cloud spend — which will reach nearly $600 billion worldwide in 2023. That is why 73% of companies surveyed identify cloud costs as a board-level issue.
CloudZero’s unique ability to provide granular insights for any cloud provider empowers software teams to collaboratively manage cloud spend down to how a specific product feature or customer impacts margin. This means engineering teams can see real-time, hourly data showing the consequences of software development decisions and can proactively optimize costs before waste occurs — something no other cost management solution can provide.
“Cost management is a challenge for every business that leverages the cloud. Most vendors in the market address small pieces of the overall problem, only providing surface-level insights into underlying cost drivers,” said Justin Moore, CEO of Innovius Capital. “We were looking to invest in a company that unified all sources of cloud costs into a single platform that was granular enough to help an individual engineer identify the exact line of code or SQL query that was spiking costs, yet broad enough to help finance and operations accurately understand and forecast the company’s unit economics. We found that platform in CloudZero.”
Unlike other solutions on the market, the CloudZero platform provides:
Complete Visibility
CloudZero AnyCost™ ingests 100% of cloud spend (IaaS, PaaS, SaaS) in real time, normalizes it in a common data model, and presents it in a single pane of glass. This gives every stakeholder the most complete, accurate, and granular source of truth.
Business Context
CloudZero CostFormation® combines billing and telemetry data to allocate every penny of taggable and untaggable spend — including shared resources, multi-tenant architecture, and Kubernetes. This enables software teams to understand what is driving their spend — customers, features, teams, microservices, etc. — and minimize time spent on manual tagging or in spreadsheets.
Engineering Engagement
CloudZero makes it easy for engineers to optimize the fixed and variable costs associated with their cloud consumption, including AI-powered anomaly detection. This empowers engineers to prioritize cost efficiency as they build and operate their entire software stack.
With over $5 billion in cloud costs currently under management, these differentiators are why customers ranging from leading startups to Fortune 500 companies rely on CloudZero to build cost-efficient software. “CloudZero has one of the most powerful cloud cost intelligence platforms on the market,” said Mike Rosenberg, senior director of engineering at Nubank. “As a fellow data-driven organization, CloudZero is a strong cultural fit for Nubank and we’re glad to partner with the team.”
“Product and engineering leaders are under as much pressure as ever to deliver innovation, but now they are being asked to do so on leaner budgets,” said Josh Stein, co-founder and managing partner at Threshold Ventures. “CloudZero provides engineers with the right data at the right time to make cost-efficient decisions without disrupting their workflow or slowing down new feature delivery.”
With the new round of funding, CloudZero will expand platform features, advance its enterprise functionality, and scale headcount with the goal of helping more customers get the most value out of their cloud investments.
“Despite the existence of first-generation cloud cost management solutions, the number one pain for FinOps professionals is consistently getting engineers to take action,” said Phil Pergola, CEO of CloudZero. “CloudZero recognizes that every engineering decision is a buying decision, which is why our platform is purpose-built for engineers. It is invigorating for the CloudZero team to come to work every day knowing that we are helping thousands of engineers drive tens of millions of dollars in cost savings, and we are just getting started.”
About CloudZero
CloudZero is the leader in cloud cost intelligence. We empower the world’s engineers to build cost-efficient software without slowing down innovation. CloudZero’s platform automates the collection, allocation, and analysis of cloud cost data to uncover savings opportunities and improve unit economics. Our unique approach ensures organizations have the most complete, accurate, and granular source of truth for their cloud costs. CloudZero is used by industry leaders worldwide, such as Demandbase, New Relic, Nubank, Rapid7, and Skyscanner. Visit cloudzero.com to get started today.
GOTHENBURG, Sweden, June 12, 2023 — Volvo Group Venture Capital AB invests in the Madrid based company Trucksters, a transport operator focused on providing long-distance transportation through an innovative truck relay system based on big data and artificial intelligence.
“The company Trucksters is using advanced algorithms and AI to manage long-haul relay transportation through Europe providing faster, safer and more sustainable transports. We are impressed by what Trucksters have accomplished and see that Volvo Group can add considerable strategic value to the development of their business. With a growing need for freight transportation, relay systems can provide a solid structure for electrification of long-haul transportation as well as for autonomous solutions in the future,” says Martin Witt, President of Volvo Group Venture Capital.
Founded in 2018 by Luis Bardají, Gabor Balogh and Ramón Castro, Trucksters’ goal is to make the global road freight industry more efficient and to improve the quality of life for drivers. The Trucksters service reduces long-distance road transit time by up to 50% by allowing trucks to be continuously on the move through relays. Today the fast-growing company is managing four logistics corridors from Spain to Western and Eastern Europe and the UK. Through the corridors, Trucksters has fixed relay points where a truck exchanges its semi-trailer with another truck, avoiding stops and enabling the driver to come back home.
“The investment from Volvo Group Venture Capital as a great milestone for Trucksters. We share many core values such as safety, driver focus, sustainability and electrification are delighted to be able to start this new phase together,” says Luis Bardají, CEO of Trucksters.
“Our collaboration will allow us to implement technological advances that will improve safety in freight transport and, at the same time, encourage the adoption of electric trucks for a more sustainable industry.”
Volvo Group Venture Capital was founded in 1997 and invests globally in startup and scaleup companies. The aim is to drive transformation by facilitating the creation of new services and solutions and to support collaborations between innovative companies and the Volvo Group. The market trends shaping the future of transportation and the strategic priorities of the Volvo Group define the investment focus areas: Logistics Services, Site Solutions, Electrification, and Climate Tech.
The transaction has no significant impact on the Volvo Group’s earnings or financial position.
June 12, 2023
Journalists wanting further information, please contact: Claes Eliasson, Volvo Group Media Relations, +46 76 553 72 29
For more information, please visit volvogroup.com For frequent updates, follow us on Twitter: @volvogroup
The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers’ uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs more than 100,000 people and serves customers in almost 190 markets. In 2022, net sales amounted to SEK 473 billion (EUR 45 billion). Volvo shares are listed on Nasdaq Stockholm.
– Proceeds to support the development of Eccogene’s clinical-stage metabolic pipeline including ECC5004, a small molecule GLP-1 receptor agonist for obesity and type 2 diabetes, and ECC4703, a THRβ full agonist for NASH and lipid disorders
BOSTON and SHANGHAI, June 11, 2023 — Eccogene Inc., a clinical-stage biotechnology company developing innovative therapeutic solutions for metabolic diseases, today announced a CNY 180 million (about $25 million) Series B financing. The financing was co-led by New Alliance Capital and Zhangjiang Healthcare Venture Capital. The syndicate also included new investors Rockbleu Capital, YuFu Investment, Huajin Capital, Elikon Venture and existing investors Delos Capital, Oriza Seed Capital and Qingsong Capital. The proceeds from the financing will be used to support the development of Eccogene’s clinical-stage programs including the Phase I trial of ECC5004, a small molecule GLP-1 receptor agonist for obesity and type 2 diabetes, and the Phase I trial of ECC4703, a THRb full agonist for NASH and lipid disorders, as well as to further advance Eccogene’s preclinical programs for metabolic and immunological diseases.
Eccogene’s clinical pipeline comprises:
ECC5004, a once daily, low dose, small molecule GLP-1 receptor agonist (GLP-1RA) is currently in a US Phase I clinical trial in healthy participants and patients with type 2 diabetes (T2D); ECC5004 has been demonstrated in preclinical studies to possess desirable efficacy and a safety profile with the potential to be the best-in-class GLP-1RA.
ECC4703, a THRβ full agonist, which is currently in a US Phase I trial in healthy participants and subjects with elevated LDL; ECC4703 has demonstrated superiority over partial agonist MGL-3196 in pre-clinical studies. It has also shown robust efficacy in pre-clinical models of NASH and dyslipidemia.
ECC0509, a peripherally distributed SSAO/VAP-1 inhibitor, which is near completion of a Phase I clinical trial.
“We are thrilled that the series B financing enables us to advance clinical trials of a potentially best-in-class small molecule GLP-1RA to treat obesity, diabetes, and related complications, and to further develop several highly differentiated assets for metabolic and immunological diseases,“said Jingye Zhou, Chief Executive Officer of Eccogene. “This financing brings us a step closer to providing clinical benefits to hundreds of millions of patients affected by obesity, T2D and NASH globally.“
About Eccogene
Eccogene is a clinical stage biopharmaceutical company dedicated to providing innovative therapeutic solutions to address unmet medical needs globally. The company focuses on the discovery and development of translational medicine for metabolic and immune-related diseases.
Investment secures strategic partnership with Australia’s leading convenience retailer.
SAN DIEGO, June 9, 2023 — Philter Labs (PHILTER™), the leader in secondhand smoke elimination technologies, secured an additional $1M (AUD) investment from Atayf Investments Pty Ltd. and a warrant for an equivalent investment by the end of 2023. Btomorrow Ventures, the venture capital arm of British American Tobacco, originally led the financing round. The allocated funds will further propel R&D initiatives within the company. They will also back the introduction of the industry’s first-ever heat-not-burn device specifically designed for organic substrates with the ability to eliminate secondhand smoke.
Philter Labs lands $1M (AUD) and nears completion of its $4M Series A Financing Round
Atayf Investments is the Family Office investment group associated with Charlie (Khalil) Shahin AO, Managing Director of Peregrine Corporation. Peregrine operates the On The Run brand of service stations and convenience stores in South Australia; this privately owned Australian company has a broad reach. They also manage Smokemart & GiftBox tobacconists vape and other retail stores throughout Australia.
Charlie (Khalil) Shahin AO, CEO of Peregrine, said, “We are excited about our investment in “PHILTER™. Their unique technology and products address consumer trends in vaping and smoking. I’m especially impressed with the caliber of the management team and their vision to address the secondhand smoke issues.”
PHILTER™ holds 9 granted utility patents and has filed over a dozen additional patents for advanced technologies that miniaturize the filtration footprint. These patents enable PHILTER™ technology to be ubiquitous within any vaping device and any form factor for combustibles.
PHILTER™ CEO Christos Nicolaidis added, “We are thrilled about this strategic investment from Atayf Investments Pty Ltd. This relationship expands the global reach of our current products in areas where Peregrine has a strong retail footprint. We are excited about advancing our proprietary technologies that will be very disruptive to the smoking and vaping markets that are growing at 14-27% CAGR, based on independent industry research.”
About PHILTER™ The PHILTER™ mission is to positively impact society by pioneering and implementing technologies that eradicate secondhand smoke at the source. The company’s technologies eliminate the harmful particulate matter in secondhand smoke caused by the consumption of cannabis or nicotine. PHILTER™ tackles the health, social, and environmental concerns tied to secondhand smoke by integrating innovative technologies across the smoking and vaping industries. These technologies aim to eradicate secondhand smoke, contributing to a healthier world.
