REYKJAVIK, Iceland, June 27, 2023 — Carbon Recycling International (CRI) is pleased to announce the closing of a 30-million-dollar equity investment round that was announced at the company’s annual general meeting last year. Equinor Ventures is leading a group of new investors joining CRI’s shareholder group. Along with Equinor Ventures Gildi, Sjóvá and Lífeyrissjóður Vestmannaeyja have also participated in the investment round.
Equinor Ventures is Equinor’s corporate venture capital arm dedicated to investing in ambitious early-phase and growth companies. Equinor is an international energy company headquartered in Norway.
Lars Klevjer, Head of Equinor Ventures:
„Equinor Ventures is pleased to partner with CRI as we aim to deepen our engagement in carbon removal technologies and their role in developing production of emerging fuels. We look forward to working with CRI.”
Björk Kristjánsdóttir, CEO of CRI:
,,We are happy to welcome Equinor Ventures and other new investors to CRI’s shareholder group. Their experience and knowledge are valuable for CRI as the company enters a scale-up phase to meet the increasing market demand for the technology solutions and services CRI provides. At CRI, we are looking forward to continuing to develop and implement our technological solutions and play our part in one of the most important projects of our time, the reduction of carbon dioxide emissions into the atmosphere.”
Sigurlína Ingvarsdóttir, Chairman of CRI’s board of directors:
“The 30 M USD investment of Equinor Ventures and the other strong investors joining the shareholder group of CRI is an incredible validation of CRI’s technology and market potential. The company is poised for international growth, with a unique technology that has a significant role to play in the transition to greener fuels and feedstocks. CRI will now be able to bring on board a host of new talented professionals for challenging roles in a high tech company making a significant impact for the future”
CRI offers a world-leading process technology to produce methanol from carbon dioxide. CRI enables its customers to produce methanol in an environmentally friendly way from carbon dioxide and hydrogen, which can be used as fuel and in chemical products. The company’s technology, which was developed and proven in Iceland, has since been implemented in the largest factory of its kind in the world. Among the current largest shareholders are Geely, Methanex and Eyrir Invest.
Following a successful launch of its open-source “Monocle” AR device, coupling AR with AI, Brilliant Labs’ seed round saw participation from Brendan Iribe, co-founder of Oculus, Adam Cheyer, co-founder of Siri, Eric Migicovsky, founder of Pebble, along with VCs like Plug & Play
SINGAPORE, June 27, 2023 — Brilliant Labs, a developer of generative AI-embedded AR glasses, today announced that it has raised US$3.0 million in seed funding led by Brendan Iribe, co-founder of Oculus, Adam Cheyer, co-founder of Siri, Eric Migicovsky, founder of Pebble, Plug & Play Ventures, among others.
Founded in 2019, Brilliant Labs is pioneering a new era of human-machine interactions through the convergence of Augmented Reality (AR) and wearable Generative AI, starting with its eponymous open-source AR device, Monocle.
Brilliant Labs Founder and CEO Bobak Tavangar demonstrates the firm’s open-source AR device Monocle at CES
Introducing Monocle, New Conduit for Generative AI
Monocle, which began shipping in February 2023, is a developer kit that empowers developers to experiment and build next-generation generative AI applications for a simple, fashion-forward, ready-to-wear monocle form factor. Monocle is meticulously designed with a highly portable single-lens form factor that easily clips onto existing eyewear.
With an embedded microphone, computer vision-ready camera, display and hackable FPGA accelerator chip, developers can build applications that directly interface with ChatGPT or other generative AI apps, to enable the AI-enhanced digital world to feel more more naturally embedded within the purview of how people see and experience the physical world. Brilliant Labs describes this design approach as “embodied intelligence.” By unshackling AI from the desktop computer, and injecting its generative capabilities into the physical reality of day-to-day life, embodied intelligence augments and enhances everyday interactions, tasks, and experiences for anyone, anywhere.
With up to a total 6 hours of battery life with the charging case, and fast charging technology baked-in, Monocle is sleek and compact, reminiscent of the convenience that true-wireless earbuds have to offer in its grab-and-go nature.
In fact, Brilliant Labs is announcing the launch of arGPT, the company’s first ChatGPT integration, enabling users to interact with and experience ChatGPT commands right from one’s eyes. Developers can also enjoy the convenience that a ChatGPT-embedded Monocle has to offer by making it easier than ever to build creative ChatGPT apps on top of arGPT.
This new ChatGPT integration from Brilliant Labs heralds a new era for society and its relationship with wearable AI. It earmarks the first key enabling technology that’s not only a breakthrough in human-machine interactions, but also offers the first killer application for the daily use of an AR wearable, be it for using Monocle’s ChatGPT feature for work, or even leisure.
Brilliant Labs’ Investment and the Future of Monocle
With over US$3.0M in seed funding, Brilliant Labs will seek to expand its team, invest into R&D, and grow its operations. The funds will be allocated to a dual-approach of nurturing an open-source AR ecosystem that fosters innovative generative AI applications that transforms human-computer interaction, while building as-yet-unannounced AR wearables in a more comfortable and compact form factor that makes AI more easily accessible to everyone.
“We believe that Generative AI is the key enabler for AR, so at Brilliant Labs, we’re building an open-source ecosystem to support developers and creatives reimagining the future, and Monocle is just the beginning. We’re excited to see what developers create with it,” said Bobak Tavangar, Founder and CEO of Brilliant Labs. “We’re thrilled to have the support of our investors as we usher in a new era of embodied intelligence – the intersection of AI and AR.”
“Brilliant Labs’ Monocle represents a significant leap forward in merging generative AI and augmented reality. It enables creators to unleash their creativity by seamlessly integrating their generative AI applications into the physical world through AR experiences,” said Adam Cheyer, co-founder of Siri. “The team at Brilliant Labs has demonstrated a deep understanding of the potential of combining AR and AI, and their passion for empowering creators is evident in their product.”
“As investors, we are excited to be part of Brilliant Labs’ journey in shaping the future of augmented reality with Monocle,” said Eric Migicovsky, founder of Pebble and former partner at Y Combinator. “Brilliant Labs’s commitment to enhancing people’s day-to-day lives with wearable AI, sparked by support of a vibrant developer community offers the confidence that Brilliant Labs is heralding a new future.”
About Brilliant Labs
Brilliant Labs, founded in 2019 by ex-Apple employee Bobak Tavangar, along with co-founders Raj Nakarja and Ben Heald, is reimagining human-device interactions with the development of generative AI-embedded AR glasses. A leading developer of generative AI-embedded AR glasses, Brilliant Labs is nurturing an open-source AR ecosystem to support hackers and creatives reimagining the future of wearable AI. The company’s flagship product, Monocle, introduces an eponymous, open-source wearable AR glasses designed to embrace next-gen AI-enabled applications, designed to augment human productivity and creativity.
Brilliant Labs has raised over US$3.0M in seed funding, led by prominent investors including Brendan Iribe, co-founder of Oculus, Adam Cheyer, co-founder of Siri, Eric Migicovsky, founder of Pebble, Steve Sarowitz, founder of Paylocity and Chairman of Wayfarer Studios, Nirav Patel, former core team member at Oculus and founder of Framework, Francisco Tolmasky, member of the original iphone team, Plug and Play Ventures, Moveon Technologies, among others.
Leading tech-enabled provider of high-acuity clinical services in partnership with healthcare organizations
ST. LOUIS, June 27, 2023 — Hicuity Health (“Hicuity”), a leading provider of high acuity telemedicine, including tele-ICU, virtual nursing, virtual sitting, telemetry, and smart device monitoring for health systems across the U.S., today announced that they have completed a growth equity financing, led by Concord Health Partners. With this funding, Hicuity will accelerate its plans to expand its presence across service lines and support technology development initiatives. Hicuity’s solutions help alleviate persistent workforce burdens by providing virtual clinical care in support of the bedside clinical team, driving improved quality of care for patients and support for onsite clinicians.
A leader in the acute care telemedicine space, Hicuity launched the first external tele-ICU offering, revolutionizing care delivery for hospitals’ and health systems’ most critical patients. Hicuity has since expanded its care delivery to extend beyond the ICU, delivering virtual nursing, virtual sitter, inpatient telemetry, smart device monitoring and shared services within hospital, post-acute, and in-home environments. Serving more than 145 individual hospitals, health systems, and post-acute facilities nationwide, Hicuity tailors solutions to fit each partner’s needs, leveraging its HUB proprietary infrastructure and working carefully with their partners to ensure highest quality service delivery and optimal clinical protocols. Repeatedly, Hicuity has proven that the ability to optimize care solutions to fit partner needs is a critical factor to improve the care experience for patients and providers alike.
Since its inception, Concord Health Partners has collaborated with the American Hospital Association (AHA) and its strategic limited partners to support innovation in care delivery while accelerating growth for portfolio companies. Hicuity’s track record of driving innovation and quality care through virtual solutions aligns directly with Concord’s investment thesis.
“Hicuity is well positioned as a tech-enabled provider of high-acuity clinical services, leveraging its track record of partnership with leading healthcare organizations across the U.S.,” said James Olsen, Founder & Managing Partner at Concord Health Partners. “Hicuity delivers a compelling value proposition by alleviating workforce challenges and partnering to provide higher quality patient care. We look forward to supporting the Company by collaborating with our strategic partners to accelerate adoption of Hicuity’s offerings in health systems across the U.S.”
“Hicuity Health appreciates the endorsement of our success and our vision that Concord Health Partners has provided with their investment,” said Lou Silverman, CEO of Hicuity Health. “Hicuity has consistently innovated in delivering provider-to-provider telemedicine that helps facilities improve care and address compelling healthcare issues such as clinical workforce challenges. We will continue to deliver innovation in technology-enabled care and clinical staffing, empowered by our partnership with Concord.”
Persistent healthcare staffing challenges are top of mind for many healthcare providers, and Hicuity has the advantage of leveraging cost effective and scalable solutions to provide high quality and high acuity care in various settings. Hicuity plans to leverage this financing round to invest in three main areas to accelerate growth of its tech-enabled care delivery services:
Support for the broad range of growth and technology developments at Hicuity to further enhance the customer experience
Expansion into new specialty lines of business and care venues to provide greater resources to future and existing customers
Support for both organic and inorganic strategic growth opportunities to enhance Hicuity’s existing product offering.
About Hicuity Health
Hicuity Health has pioneered provider-to-provider telemedicine innovations. Serving a diverse range of clients and care venues – including health systems, hospitals, and post-acute care facilities – with its expanding line of services that includes virtual nursing, tele-ICU, remote inpatient telemetry, virtual sitter, smart device monitoring, and shared services, the company is the leader in delivering expert care on a 24 x 7 x 365 basis to high-acuity patients in high-acuity environments. The company’s innovation is highlighted by its proprietary HUB workflow management technology platform, which enables seamless care delivery and informs patient management across 12 clinical care centers that serve more than 145 hospital partners located in 35 states nationwide. Hicuity Health cares for 160,000 patients per year, delivering enhanced patient outcomes, tangible ROI, and expert clinical support for the bedside teams at our partner hospitals. For more information, visit www.HicuityHealth.com.
About Concord Health Partners
Concord Health Partners (“Concord”) is a healthcare focused investment firm with a strategic model that optimizes the alignment of interests between investors and portfolio companies. Concord has developed a broad network of strategic investors that contribute expertise and resources, and serve as potential commercial partners to portfolio companies. Concord is primarily focused on investing in healthcare companies that have the potential to enhance the value of care through products, services, technologies and solutions that lower costs, improve quality and expand access to care. For more information, visit www.concordhp.com.
The logistics, robotics, and blockchain company is seeking an additional $2 million for its pre-Series A round as it prepares for its first commercial installation at an e-commerce fulfillment center
LEWES, Del., June 29, 2023 — RENATUS ROBOTICS Inc., a logistics startup, has announced the successful closing of its initial seed round. The company secured $2 million in funding from e-commerce logistics company e-LogiT co., ltd. and CVC fund Dawn Capital. This key funding milestone is a testament to the industry’s faith in RENATUS ROBOTICS’ groundbreaking vision to revolutionize logistics through its end-to-end automation technologies starting with their automated robot storage system RENATUS. The company’s eventual goal is to create a fully unmanned and autonomous logistics network under its motto, “Toward a Creative Society.”
Installation of the first commercial RENATUS system is already underway and slated for operation starting in Q2 2024. A majority of the system is planned to be portioned and contracted with e-LogiT for use in their order fulfillment operations, while the remaining portion will be reserved for use by RENATUS ROBOTICS for its RENATUS NETWORK blockchain project.
The purpose of this round of fundraising is multifaceted. The key aim is to leverage the cutting-edge AI and robotics technology of RENATUS ROBOTICS with the e-commerce logistics expertise of e-LogiT and the blockchain acumen of Dawn Capital. E-LogiT operates a domestic network of 8 fulfillment centers with over 1700 clients. Dawn Capital’s Akatsuki Ventures has a well-established record of strategic investment in the blockchain space, having previously backed STEPN through its Emoote fund. By combining expertise, RENATUS ROBOTICS aims to accelerate its business growth and push forward automation in the logistics industry.
As part of its growth trajectory, RENATUS ROBOTICS is currently considering an additional $2 million pre-Series A round, with future rounds of fundraising expected. This move is designed to provide the capital required to scale up its operations and expand within the US. The funding will also be allocated to the expansion of sales partnerships and OEM contracts with logistics vendors, solutions companies, and system integrators.
The company cordially invites interested investors, media outlets, and job candidates to get in touch. Online appointments for a live streamed demo of RENATUS are available for waitlist scheduling via Google Form (forms.gle/9jPsMos45sUtXDELA).
INVESTOR AND PARTNER COMMENTS (Translated from Japanese)
We firmly believe that RENATUS ROBOTICS, consisting of top-tier members with backgrounds in AI and robotics, is exactly what the logistics industry needs, which has led us to invest. We are very much looking forward to the launch of the automated robot warehouse system “RENATUS,” its completion and commencement of operations. We, Dawn Capital, fully support RENATUS ROBOTICS to ensure their strengths are further highlighted.
–Taisei Yamazaki, Director at Dawn Capital
In carrying out logistics operations, investments in “AI” and “automation”, and the implementation of “automated warehouse systems”, will become indispensable elements for the entire logistics industry in the future. With the cooperation of RENATUS ROBOTICS, our company has decided to implement a full-scale “AI-powered automated warehouse system.” With the “One-Stop Pick & Pack” of RENATUS, it is expected to improve work productivity, improve warehouse utilization, and significantly reduce costs, enabling the realization of a warehouse with high ROI. Please look forward to it!
-Ryoichi Kakui, President & CEO at e-LogiT co., ltd.
Around the fall of 2021, our company began working on a performance verification project with RENATUS ROBOTICS in order to consider the implementation of “RENATUS” to our large-scale logistics centers.
We’ve had the opportunity to talk with various logistics vendors, but the team at RENATUS ROBOTICS embodies a very high aspiration and expertise in both the algorithm and robotics aspects.
I think it’s an extremely attractive team where each member, excelling in their respective fields of hardware and software, is working well in unison towards organizational goals. We look forward to their future achievements.
–Masaya Suzuki, President & CEO at MonotaRO
ABOUT RENATUS ROBOTICS Inc.
RENATUS ROBOTICS is a logistics, robotics, and blockchain company based in Delaware, USA and Tokyo, Japan. The company is building logistics automation systems like RENATUS automated robot storage system to realize fully unmanned and autonomous logistics networks. By combining expertise in logistics, hardware, and algorithms, RENATUS ROBOTICS is striving to shape the future “Toward a Creative Society.”
Raising $130M for its latest venture capital fund, the firm now has approximately $500M under management
SAN DIEGO and SAN FRANCISCO and NEW YORK, June 27, 2023 — Correlation Ventures, the U.S. venture industry’s AI pioneer and leading co-investor, announced the close of Correlation III, a $130M US venture capital fund. Correlation now has approximately $500M under management. The firm’s investors (limited partners) include leading endowments, pensions, funds of funds and family offices. Upon formally announcing the closing of Correlation III, the firm also announced the promotion of two key members of their team, Wesley Barrow and Moiz Saifee, to Partner.
With Correlation III, the firm intends to continue its track record of co-investing in private, US venture-backed companies positioned to become industry leaders. Just a few high-returning examples include SynthorX (IPO then M&A, acquired by Sanofi for $2.5B), Upstart Lending (IPO, market capitalization of $2.5B), IonQ (IPO, market capitalization of $2.1B), MosaicML (M&A, being acquired by Databricks for $1.3B (pending close)), Personal Capital (M&A, acquired by Empower for up to $1B), Janux (IPO, market capitalization of $500M), Lemonaid Health (M&A, acquired by 23andMe for $400M) and Gabi (M&A, acquired by Experian for $320M).
Correlation pioneered the use of predictive analytics to make investment decisions in U.S. venture. Since 2010, the firm has been optimizing an objective, extensively-validated quantitative model that enables the firm to uniquely offer entrepreneurs very rapid, hassle-free co-investment decisions, and LPs a repeatable, and continuously improving, system for generating superior risk-adjusted returns. The firm leverages many factors in its quantitative model which it has found correlate prospectively and with superior returns, including factors related the company, the financing round, and the investors.
The firm invests in all industry sectors and investment stages, from pre-seed to growth, and can invest $100K up to $4M in initial investments and up to $10M over the life of its involvement in a company. Correlation typically makes investment decisions within days, and always in under 2 weeks. The firm has also carved out a unique value-added niche in the marketplace. For example, Correlation is often able to leverage its industry-leading database and its large network of other investors, companies, and board members to connect its portfolio companies with other valuable investors, partners, and advisors. One example of this is the company’s industry-leading VC Matching Tool, which uses a proprietary algorithm to identify the VC partners and firms most likely to be interested in leading a founder’s next financing round.
Correlation is one of the most active venture firms in the industry, typically making about one new investment each week. Since its founding, Correlation has invested in over 400 different companies across all industry sectors.
Since joining Correlation in 2012 and 2020, respectively, Moiz Saifee and Wesley Barrow have each been instrumental in continuing Correlation’s position as the venture capital industry’s predictive analytics leader and most attractive VC co-investor.
Moiz joined Correlation from Info Edge where he led the Analytics Team at Naukri.com, India’s most active e-commerce site at the time. At Correlation, Moiz has reported to Dr. Anu Pathria, Managing Director, who leads the firm’s analytics, and has been centrally involved in all aspects of building, testing, and maintaining the firm’s databases and models.
Wesley originally joined the firm as Venture Partner to lead its New York City office after 12 years as a successful entrepreneur and operator. Previously, he worked at Buddy Media, where he spearheaded the company’s largest client partnerships before it was acquired by Salesforce and he cofounded Nomi, which raised venture capital from such firms as Accel, First Round Capital, and Greycroft. Most recently, he served as the SVP of New Business at Yext (YEXT), which IPOed in 2017 on the NYSE. As a Partner, Wesley will continue to source and lead competitive investments for the firm and provide critical value-added assistance to portfolio companies, for example, by applying his expertise in “go-to-market” strategy.
David Coats, co-founder and Managing Director, said, “With Correlation III, we intend to continue to extend our lead in AI-driven venture capital and we remain committed to providing a differentiated and highly attractive value proposition to founders and other VCs, as well as superior returns to LPs.”
Trevor Kienzle, co-founder and Managing Director of Correlation Ventures, added, “While we’re perhaps best known for our pioneering analytics as well as our fast, founder-friendly value proposition as a co-investor, I’ve also found it highly rewarding to assemble such a high caliber and cohesive team. I couldn’t be more proud to welcome both Moiz and Wesley to the Partner ranks of our firm.”
ABOUT CORRELATION VENTURES Correlation Ventures, a U.S. venture fund with approximately $500 million under management, leverages world-class analytics to offer entrepreneurs and other venture capitalists a dramatically better option when they are seeking additional co-investment capital to complete a financing round. The firm makes investment decisions typically within a few days, and always in under two weeks, and is highly flexible on investment size. Correlation Ventures invests across all industry segments, U.S. geographies and investment stages—from seed through late stage. Correlation Ventures has offices in San Diego, San Francisco and New York City. For more information, visit http://www.correlationvc.com and @correlationvc.
New Funds will Accelerate Federato’s Growth and Support Its Mission to Bring Efficient Underwriting and Data-Driven Portfolio Management to P&C and Specialty Insurance
SAN FRANCISCO, June 27, 2023 — Federato, the insurance industry’s first RiskOps underwriting platform, today announced that it has raised $25M in Series B funding, led by Caffeinated Capital, with participation from Emergence Capital and Pear VC. This round comes less than a year after the company announced its Series A.
“Since leading their Seed round two years ago, we have been privileged to see the Federato team build something exceptional in P&C insurance,” said Varun Gupta, Partner at Caffeinated Capital, who joins the company’s board. “Federato’s software is so valuable that billion-dollar global insurance companies and startup MGAs alike buy, use, and evangelize it. After hearing rave reviews from those customers, seeing the company’s strong growth, and observing the team’s march towards building the Industry Cloud for P&C, we are excited to triple down.”
Critical to Federato’s strategy has been its application of AI and Reinforcement Learning to the problem of portfolio optimization. “Federato’s foundation lies in deep research around how AI can work together with humans towards complex end goals,” said William Steenbergen, CTO and Co-Founder of Federato, whose graduate work at Stanford’s Human Computer Interaction Group centered around these algorithms. “Our customers are proving that while generative AI has created recent buzz, many other AI use cases are benefitting from the same underpinning innovations. In insurance, the impact of helping a group of underwriters work towards the coordinated end goal of a balanced, growing risk portfolio is crucial. We are excited to be several years ahead of the curve in applying a broad range of machine learning techniques to ensure AI makes an impact in this important industry.”
Federato’s RiskOps provides a real-time platform for both individual risk underwriting and portfolio optimization. Key to the platform’s efficacy is the underlying federated data graph, which enables a single pane of glass view of client information and allows for AI to proactively recommend next best actions to users, bridging the art and science of underwriting. Since the company’s Series A, Federato has tripled its customer base, doubled spend within existing customers, and entered several new segments across both commercial and personal lines.
“The difference between RiskOps and what has traditionally been called an ‘underwriting workbench’ is as big as the difference between ChatGPT and the Google Search we’ve used the last 25 years,” said Deb Smallwood, Founder of Strategy Meets Action, and longtime insurance technology analyst. “Bringing the power of AI to portfolio management represents a fundamental step forward, and we believe insurance is about to have its ‘AI Moment’ with Federato at its core.”
About Federato
Federato’s industry-first RiskOps platform for P&C and Specialty insurance aligns portfolio strategy with underwriting action. Designed by underwriters for underwriters, Federato surfaces real-time risk and portfolio insights, enabling teams to triage business based on key criteria like appetite, underwriting guidelines, and winnability. The platform is being used today by a broad cross-section of the insurance industry from multi-billion-dollar insurance carriers to tech-savvy, high growth MGAs. Learn more at www.federato.ai.
Proceeds to be used for international expansion in the US, UK and EU
TEL AVIV, Israel, June 27, 2023 — QLOG, an innovative healthcare technology provider, announced the successful completion of its seed funding round of $2.5M, led by eHealth Ventures and Sanara Capital. This investment will be used to support QLOG’s expansion of international commercial activities.
QLOG’s Healthcare Operations Platform has gained widespread adoption by over 40 hospitals in Israel and Europe. Now, with the newly secured funds, the company is poised to expand its market presence in the US, UK and EU.
In almost every health institution, the healthcare workforce is constantly required to spend a significant part of their time in chores unrelated to patient care. Complex and inefficient documentation, searching for equipment and data, locating supplies and scheduling tasks can take over 25% of nurses’ and technicians’ time.
The QLOG Healthcare Operations Platform redefines the communication pathways between healthcare providers and their workforce. QLOG creates real time, crowed-sourced data flow and visibility, enabling everyone better control, less waste, and an improved work environment. The system enables seamless asset tracking, staff workflow optimization and enhanced patient safety.
QLOG’s solution encompasses Real-Time Location Systems (RTLS) and next generation Enterprise Resource Planning (ERP) systems. Combined with ultra-lightweight RTLS technology, the platform facilitates improved coordination and compliance, ultimately delivering better patient outcomes.
QLOG’s Healthcare Operations Platform has been validated to drive enhanced quality of care and unprecedented overall improvements in:
Quality of care – up to 90% better compliance & safety
Staff workload – up to 80% reduction in workload & improved staff retention
Profitability – 45% better equipment utilization, 65% less supply loss & waste
Operational readiness – 85% more visible data, supporting decision making
0$ investment in infrastructure – no hardware or installation required
“QLOG is here to help improve the way healthcare is operating. We are proud to be making a huge impact, redefining both the communication channels between the organization and the workforce, and the way healthcare is managed” said Dr. Amit Lehavi, Founder and CEO of QLOG. “Our Healthcare Operations Platform has already displayed remarkable financial impact and quality improvements across Israel and Europe. This has shown a direct positive influence on patient care and nurses’ burnout and retention. We look forward to expanding our capacity to improve healthcare and thank eHealth Ventures and Sanara for their trust and support in this mission.”
Talor Sax, CEO of eHealth Ventures, shares: “QLOG is installed in 90% of Israeli hospitals and has become a mission critical system in all. The secret of QLOG is the unique combination of ‘stickiness’ and simple implementation and interoperability. We expect to see a high level of adoption all over the world.”
“We’re proud to invest in QLOG. We believe that this unique and innovative digital solution will transform the way hospitals work throughout the world, just as it already has in Israel” said Assaf Barnea, Sanara Capital’s Managing Partner.
About QLOG
Committed to driving excellence in patient care, QLOG Technologies is an innovative healthcare technology provider, disrupting the healthcare management space. Specializing in crowd-sourced ERP and RTLS Hospital and Clinic Resource Management solutions, QLOG’s revolutionary solution provides healthcare institution managers and stakeholders full data visibility. QLOG’s Healthcare Operations Platform has been developed within the healthcare ecosystem. It optimizes equipment utilization; minimizes medication and equipment loss and waste and provides complete process visibility, significantly improving efficiency and patient safety.
eHealth Ventures is a unique, early-stage digital health fund that is focused on optimizing venture building. The fund utilizes a unique alliance of strategic healthcare partners providing access to healthcare partners, capital, and expertise. The Fund’s highly skilled professional team supports clinical integration, business validation and commercial expansion of portfolio companies.
Sanara Capital is a Health-Tech fund, focusing on Israeli digital health, bio-convergence and medical devices startups, at their A-B investment round of financing. Sanara Capital is a follow-on fund to Sanara Ventures, a seed-stage investment platform supported by Philips and Teva with nearly 20 active portfolio companies.
The new climate venture fund aims to catalyze the $1.5T animal protein industry towards sustainable food solutions.
LOS ANGELES, June 27, 2023 — VC newcomer Joyful Ventures today announced, via Bloomberg News, the successful closing of $23M of their $25M sustainable protein fund. As the industry’s only LGBTQ-and woman-led firm, Joyful Ventures is dedicated to building the next generation of the industry’s game-changing companies.
The fund announcement comes on the heels of the landmark USDA approval of cell-cultivated meat to US consumers last week.
Joyful Ventures Co-Founders from left to right: Blaine Vess, Jennifer Stojkovic, Milo Runkle
Joyful Ventures, led by partners Milo Runkle, Jennifer Stojkovic, and Blaine Vess, carries a wealth of expertise in the alternative protein sector, entrepreneurship, and investment. The fund will focus on disruptive early stage startups working in all aspects of sustainable and regenerative protein solutions, including plant-based, precision fermentation, mycoproteins, molecular agriculture, and cultivated technologies, with a strong focus on B2B.
Runkle, Stojkovic, and Vess bring over 40 years of industry experience. Runkle, Mercy For Animals founder and co-founder of New Crop Capital and The Good Food Institute, has dedicated his career to advocating for food system reform. Stojkovic, Vegan Women Summit founder and award-winning author, serves as advisor and board member to the industry’s biggest plant-based brands. Vess, a seasoned entrepreneur and investor in 50+ startups, has a proven track record in successful exits.
“The future is full of world-changing sustainable protein companies whose founders face critical challenges in early stages,” said Vess.
Joyful Ventures has already invested in two start-ups. Orbillion Bio, based in San Francisco, has a proprietary full stack approach to cultivated meat, while New School Foods, based in Toronto, is utilizing a unique muscle fiber and scaffolding platform to create plant-based seafood alternatives to traditional fish.
“We are not just investing in companies; we are investing in global transformation,” Runkle states. “We are proud to champion entrepreneurs forging a future where nutritious, sustainable food is universally accessible.”
The Joyful Ventures team offers a compelling value proposition for the climate crisis. A recent Boston Consulting Group study found that investing in plant-based protein is eleven times more impactful than EVs, four times more impactful than green building, and three times more impactful than decarbonizing cement.
“Rather than trying to capture the carbon, methane, and nitrogen that we’re creating, let’s prevent it from happening by changing what is on our plates,” said Stojkovic. “If you are investing in climate, and you want real, scalable solutions, there’s nothing better than food.”
Joyful Ventures is a 506(c) fund and is accepting limited partners with a minimum $25,000 commitment. For inquiries related to investing in the fund, please visit https://www.joyful.vc/contact.
About Joyful Ventures Joyful Ventures is an early VC fund driving climate solutions through sustainable protein and food technology. With over 40 years of industry experience, Joyful Ventures aims to drive a revolution in the food industry towards sustainability. www.joyful.vc
JustPaid launches with $3.5M Investment from Rebel Fund and others
NEW YORK, June 27, 2023 — JustPaid, the AI-powered Finance Company, has recently launched its innovative suite of services after successfully raising $3.5M in a seed funding round. JustPaid specializes in providing SMBs with automated bill payment, contract validation, and real-time AI financial auditing solutions, gaining the support and interest of tech figures and reputable funds. Investors include Rebel Fund (Reddit cofounder Steve Huffman, Cruise co-founder Daniel Kan, Instacart cofounder Max Mullen, among others), Leah Culver (formerly building Twitter spaces), Arash Ferdowsi (former CTO/Dropbox cofounder), Jack Abraham (Founding Partner of Atomic), Mamoon Hamid (partner at Kleiner Perkins), Orange Collective, Decacorn Capital, Lab Capital Advisors and Y Combinator – to name a few.
The brand’s mission is to democratize and simplify the professional lives of company operators with their continuous audit between the contracts and bills to pay, and allow small business operators to receive and track payments, understand their finances with analytics, and identify opportunities, all of which is powered by AI, and they already have thousands in ARR and growing.
“We are so thrilled to be bringing JustPaid to market. Founders and their teams need a copilot providing a usable dashboard to make them certain about cash flow visibility into their company, and JustPaid is giving financial insights real time,” says co-founder Daniel Kivatinos, a second-time Y Combinator founder who sold his first company in November 2021.
“Before we launched JustPaid, I was struggling with the lack of workflow. There are so many software solutions, but I had to piece it all together through Excel, and reading PDF documents,” says co-founder Anelya Grant, a second-time founder who built a successful tech-focused accounting firm. “I was spending hours trying to answer a few questions all companies had – what’s our revenue, can we afford to hire more people and when will we run out of money?”
“When founders have enough tools to understand their finances the company’s employees will feel more secure,” says co-founder Vinay Pinnaka. “Before starting JustPaid, I saw the struggles startups have not knowing their spend. I wanted to build a tool to help companies manage their expenses and recognize their revenue.”
The small and mid/large business market size for JustPaid’s FinTech software is a $5B+ dollar market – with large parts of financial controllers’ work being automated by AI.
