Pynt automates API security testing, minimizing exposure, and saving time & effort by bridging the gap between software development and security

TEL AVIV, Israel, Sept. 6, 2023 — Pynt today announced the general availability of its autopilot platform for API security used by thousands of developers and security experts, as well as $6 million in Seed funding led by Joule Ventures with the participation of Dallas VC and Honeystone VC.

The use of APIs is exploding, with 83% of internet traffic today related to API services. These software interfaces enable seamless integration, propelling businesses toward success. But reliance on them has created myriads of critical vulnerabilities. API security breaches can happen anywhere, as incidents at Twitter and LinkedIn exemplify, casting a worldwide shadow over cyber defenses.

Shockingly, more than half of all APIs remain hidden from the inquisitive eyes of security teams. With developers under pressure to deliver more software, faster, in an environment of ever-increasing complexity, more often than not API testing is low on the priority list, and is often overlooked. At the same time, cybersecurity talent is in short supply, with a whopping 3.5 million unfilled jobs projected for 2025. This explosive combination leaves critical business logic vulnerable to exploitation.

Pynt enables API security by bridging the gap between developers and security experts. Its platform takes on the role of a hacker, employing human logic to generate attacks and eliminate vulnerabilities before they become exposed. By seamlessly integrating with popular API development tools and CI/CD pipelines, Pynt offers a fully automated API security solution used by thousands of developers and security experts around the world.

“API security is top of mind for security professionals and business stakeholders alike, and for good reason. Putting up an API to your application and data is like opening up doors to your castle. These doors should be both secure by design and well-guarded with the ‘door makers’ and ‘guards’ sharing the responsibility”, said Pynt Co-Founder & CEO Tzvika Shneider.

“It’s the same thing for API security: developers and security experts should share the responsibility. The problem is, developers don’t know much about security, and security people can’t be involved in development. And both already have a lot on their plate. We solve that problem by elegantly shifting left API security, improving both productivity and security. That’s why thousands of developers and security experts have been working with our platform from the get-go”.

Shneider co-founded Pynt with CTO Ori Goldberg, CSO Golan Yosef and CPO Ofer Hakimi. Pynt’s founders are all veterans in both cybersecurity and software development, having spent years in the trenches responding to large-scale incidents. It’s the same team that built the world’s 1st automotive app security solution for developers at Harman (Samsung).

Pynt offers a freemium and an enterprise version, and is already in use at companies ranging from mid-market to Fortune 500. In addition to automating the identification of API vulnerabilities during development, Pynt delivers comprehensive reports and dashboards for developers and other stakeholders, as well as actionable recommendations for addressing security issues.

“Pynt’s unique approach to securing APIs pre-production is the next logical step for the growing number of enterprises looking to embrace ‘shift left’ best practices, said Brian Rosenzweig, founding partner at Joule Ventures. “This Pynt team has an exceptional combination of experience, technical acumen, and vision and is poised to make a significant dent in the API Security market.”

Pynt has been developed in collaboration with, and is supported by, a wide range of application development and security experts. Most notably, Pynt integrates with Postman, one of the most popular API development and testing tools. Abhinav Asthana, Postman’s CEO and co-founder, is an investor in Pynt, alongside other notable angel investors such as Tamir Carmel, Boaz Chalamish, Cyber Club London, Amos Stern and Noam Lanir.

About Pynt

Pynt is a rapidly growing API security platform provider that bridges the gap between developers and security experts. Headquartered in Israel, Pynt is funded by global investors, led by Joule Ventures. For more information, visit pynt.io.

Media Contact
Lazer Cohen
347-753-8256
[email protected]

SOURCE Pynt

Agetech company equipping community-based aging care and service providers with technology to remotely engage and address day-to-day needs of thousands of older adults monthly over 30 languages across text, voice calls, and emails

NEW YORK, Sept. 6, 2023 — Blooming Health, a digital engagement and referral solution enabling service providers to engage older adults and their family members, today announced the close of an oversubscribed $4.2 million seed round. Investors include Afore Capital and Crossbeam Venture Partners, with additional investment from Chelsea Clinton’s investment firm, Metrodora, and angel investor and DoorDash Cofounder, Evan Moore.

In addition to the funding, Blooming Health also announced that Andrew Parker, founder and CEO of Papa, a unicorn agetech company offering individuals and families access to vital companionship and care, will join the company’s advisory board.

Blooming Health is an inclusive solution to equip community-based aging care providers with the technology to remotely engage and address the social needs of tens of thousands of older adults and caregiver clients in a personalized way across text, voice calls, emails, and over 30 languages. The company was co-founded by Nima Roohi, Ph.D., Kavitha Gnanasambandan, Ph.D., and Naman Gupta.

“At Blooming Health’s core is a desire to change the way society ages by providing proactive access to holistic care in an equitable way,” said Nima Roohi, Co-Founder and CEO of Blooming Health. “With the support of our investors, we are thrilled to continue growing rapidly, making key hires, and further advancing in our mission to serve as a single touchpoint for all aging-in-place needs so older adults can receive the care they need, when they need it.”

Blooming Health’s user-friendly platform addresses the vital needs of older adults and the family caregiver population, including wellness check-ins and needs detection around nutrition access, transportation and mobility, emergency preparedness, and follow-ups on the outcome of services provided to thousands of individuals every day. The platform is utilizing AI, automation, and advanced data analytics that sit on top of the telecom infrastructures to engage older adults, detect needs, and facilitate service delivery in a personalized and proactive process. As a result, Blooming Health is extending the already human resource constrained care economy and helping older adults receive the day-to-day social, healthcare, and financial support and services they need to live healthier and more independently in their communities, reducing healthcare and long-term care costs significantly in the $1 trillion aging economy.

With operations across New York, Arizona, Texas, and California, care providers have seen a three-fold increase in clients’ social engagement, while saving 15 hours per week for staff using Blooming Health’s solution. Blooming Health is expanding operations to Pennsylvania, Ohio, Indiana, and Michigan and targeting to reach 1 million older adults by the end of 2024.

“With an aging population and longer lifespans, technology will play a key role in preventing aging service providers and local government officials from being overwhelmed,” said Sakib Jamal, Vice President at Crossbeam Venture Partners. “The team has already shown increased utilization of social programs among their community and government clients, and we are optimistic this impact will scale nationwide.”

“As we navigate an era marked by an aging demographic, the fusion of technology and aging services emerges as a beacon of promise,” shared Gaurav Jain, Co-founder of Afore Capital. “What caught our attention with Blooming Health is their resolute commitment to reshaping the landscape of senior care. The company’s mission to help older adults live healthy, independent lives is one that we believe in deeply. We’re honored to stand behind their journey.”

“Blooming Health is transforming the way we meet the social and healthcare needs of older adults through its platform that both enhances access to vital services and creates a more connected ecosystem for stakeholders at every level,” said Chelsea Clinton, co-founder of Metrodora Ventures. “We are proud to support Blooming Health in its mission to build a future where aging is accompanied by dignity, support, and a thriving sense of community.”

Blooming Health’s growing list of partners includes community organizations like Catholic Charities, tens of Area Agencies for Aging (AAAs), NY State Office for Aging (NYSOFA), Oak Street Health, and the AARP Foundation. With the company’s collaboration with the AARP Foundation, over the past 6 months, Blooming Health has added access to close to $10 million worth of services for older adults. This includes over 350,000 meals, and over 200,000 programs across health and wellness, education and recreation, and transportation.

About Blooming Health
Blooming Health’s mission is to power healthy aging-in-place. Blooming Health’s inclusive platform equips community-based aging care providers with the technology to remotely engage and address the social needs of tens of thousands of older adults and caregiver clients in a personalized way across text, voice calls, emails, and over 30 languages. With operations across New York, Arizona, Texas, and California, Blooming Health’s platform is helping older adults receive the day-to-day social, healthcare, and financial support and services they need to live healthier and more independently in their own communities, reducing healthcare and long-term care costs significantly in the $1 trillion aging economy. For more information, visit https://gobloominghealth.com/

About Afore Capital
Afore Capital is a VC with $300 million in AUM co-founded by Anamitra Banerji & Gaurav Jain. We support product-oriented founders building software companies at the very earliest stages. At Afore, we believe that before there’s a company, before there’s a business, there’s a product-oriented founder leading by product. The products are often raw, sometimes just rough concepts requiring a lot of imagination. They are pre-traction and pre-obvious. But they come from founders with non-obvious insights and infectious ambitions. For more information, visit https://www.afore.vc/

About Crossbeam Venture Partners
Crossbeam Venture Partners (Crossbeam) is a venture capital firm that invests in Pre-Seed to Series A startups building tomorrow’s economy. Focused on the themes of platform economies, fintech, new forms of media, and alternative sources of income, Crossbeam is built to back companies of the next-generation economy utilizing unique structures, credit, or novel business models. For more information, visit https://crossbeam.vc

About Metrodora
Metrodora Ventures is an early-stage venture firm focused on health and learning businesses.

SOURCE Blooming Health

• Women-led TRLab partners with artist foundations, estates and institutions to conceive and launch education-focused digital art experiences
• Co-founders Xin Li-Cohen and Audrey Ou have leveraged their experience with auction houses and contemporary art museums to pioneer gamified cultural experiences as part of a product vision that goes beyond current Web3 trends
• The new capital will be used to expand the 2-year-old company’s market presence worldwide and to launch concurrent projects with a global roster of artists, foundations, and institutions

NEW YORK, Sept. 6, 2023 — Fine art-focused tech start-up TRLab announces it has raised US$5 million in seed round funding, led by two investment firms at the forefront of blockchain technology innovation: Hivemind Capital Partners and OKX Ventures. HashKey Capital, a digital asset and blockchain leader, also joined the round.

The successful close marks a second major fundraising round for the women-led company, co-founded by Xin Li-Cohen, a non-executive Deputy Chairman at Christie’s, and led by CEO and co-founder Audrey Ou. TRLab was incubated by Dragonfly Capital and launched in 2021, with early-stage support from major art collectors and tech entrepreneurs, including Pace Gallery, Animoca Brands, BAI Capital, and the founders of Artsy and Shanghai’s Rockbund Art Museum (RAM).

From its locations in New York and Hong Kong, TRLab works with artists, estates, and art institutions to conceive, produce and launch digital-first art experiences for new and established collectors. To date, TRLab’s platform has hosted projects in partnership with Vogue, the Calder Foundation, contemporary artist Cai Guo-Qiang, and Rhizome, the digital art-focused affiliate of New York’s New Museum. Underpinning each project is TRLab’s educational approach, which uses online learning, competitive challenges, and digital collectibles to make fine art and art history more accessible to digital-centric audiences. Using this ‘play-to-learn’ approach, TRLab has introduced participants from 60 different countries to the work of modern artist Alexander Calder, as part of a multi-chapter digital partnership with the Calder Foundation that continues into 2024.

The new capital will be used to on-board additional artists, foundations, and cultural institutions onto TRLab’s platform, expand the company’s market presence worldwide, and integrate new technologies that improve the digital art collecting experience. Several new digital art experiences with prominent artists and estates are slated for release over the next six months, along with TRLab’s first-ever immersive digital art exhibition in November.

Audrey Ou, TRLab Co-Founder and CEO, said: “We are proud to have the support and commitment of Hivemind and OKX Ventures as we pioneer a new way to conceptualize and collect fine art. TRLab has always occupied a unique space among digital art and Web3 platforms, and the success of our mission-driven approach shows there is ample demand for digital-centric art experiences that foster a deeper understanding of fine art and individual artists.”

Hivemind and OKX Ventures cited TRLab’s differentiated value proposition as a key factor in their investment decisions, and plan to offer strategic support to TRLab in key markets worldwide.

Matt Zhang, Founder and Managing Partner of Hivemind Capital Partners, said: “At Hivemind, we strongly believe in the potential of long-form generative art and see the broader digital native art as the next major art genre, all empowered by blockchain technology. With TRLab’s curated vision and exceptional partnerships, they are ideally positioned to spearhead the digital art renaissance, seamlessly blending world-renowned artistry with cutting-edge technology. We’re thrilled to support Audrey, Xin, and the entire TRLab team in their mission to shape the future of digital cultural heritage.”

Jeff Ren, Partner of OKX Ventures, said, “At OKX Ventures, we recognize the transformative power of Web3 in the world of fine art. TRLab isn’t just reshaping collecting, it is pioneering a new era where Web3 technology meets timeless expression. We’re thrilled to champion this convergence.”

TRLab: 
Website  I  Instagram  I   Twitter 

SOURCE TRLab

NOAA SBIR award supports improvement of water availability predictions with Salient’s advanced weather forecasting technology to aid communities with better resource management

BOSTON, Sept. 6, 2023 — Salient Predictions, a leading pioneer in weather forecasting analytics, has been awarded a National Oceanic and Atmospheric Administration (NOAA) Small Business Innovation Research (SBIR) grant to advance water availability forecasting that spans an unprecedented two to 52 weeks ahead. Focused in the vast agricultural region of Central Valley, California, the Phase I project will concentrate on improving predictions of subseasonal to seasonal (S2S) water availability, enabling communities to more effectively manage resources amid increasing and erratic natural disasters like floods and droughts.

“Global warming has led to an intensification of the water cycle with longer droughts and more intense rainfall events, threatening agricultural production and hydropower generation,” said Ray Schmitt, President and co-founder of Salient. “Salient produces more accurate temperature and rainfall predictions at longer lead times than traditional government sources. This grant will enable us to integrate Salient’s forecasts with a high-resolution hydrologic model that estimates soil moisture, evapotranspiration, and stream flow to provide farmers and hydropower operators with long range estimates of water availability for crops and reservoirs. It will also enable better preparedness for coping with the growing unpredictability and volatility of weather.”

Current hydrological models face challenges related to data inputs, as climate change has been presenting weather patterns atypical from historical data, and government forecast models are only accurate for about two weeks. Salient’s AI-powered S2S forecast technology uses machine learning and various oceanic, atmospheric, and land-based variables to deliver breakthrough levels of reliability and predictability of weather up to a year in advance. The technology has evolved from decades of research at Woods Hole Oceanographic Institution and the Massachusetts Institute of Technology (MIT).

“NOAA recognizes the critical need for advancing predictive capabilities related to water availability,” said Dr. Genevieve Lind, SBIR Program Manager at NOAA. “Salient’s proposed technology for enhancing water forecasts aligns with NOAA’s mission to improve our knowledge and management of water resources in a changing climate.”

NOAA’s SBIR program is a highly competitive merit-based grant program that encourages small businesses in the U.S. to engage in research and development (R&D) with the goal of developing innovative and commercially-viable products or services.

For more information on Salient’s revolutionary S2S forecasting solution, go to: https://www.salientpredictions.com/forecasts

About Salient
Salient combines novel ocean and land-surface data with machine learning and climate expertise to deliver the world’s most accurate subseasonal-to-seasonal weather forecasts and industry insights—two to 52 weeks in advance. Bringing together world-leading experts in physical oceanography, climatology and the global water cycle, machine learning, and AI, Salient helps enterprise clients improve resiliency, increase preparedness, and make better decisions in the face of a rapidly changing climate. Learn more at www.salientpredictions.com and follow on LinkedIn and Twitter.

All trademarks recognized.

SOURCE Salient Predictions, Inc.

Shop Circle’s suite of e-commerce solutions delivers a one-stop-shop of cutting-edge technologies to online brands.

LONDON, Sept. 6, 2023 — Shop Circle, the one-stop-shop software provider for e-commerce brands, announced the successful completion of its Series A funding round, raising $120 million. The round was led by 645 Ventures and 3VC, with notable participation from previous backers QED Investors and NfX, with the credit facility provided by i80 Group. The funding was raised through a strategic combination of equity and debt.

Shop Circle reports a substantial 360% year-over-year growth, driven by the integration and strengthening of its extensive suite of back-end and customer-facing solutions.

“We’re thrilled to announce the successful close of our Series A funding round, which will enable us to continue building and expanding our suite of e-commerce tools,” says Luca Cartechini, CEO and Co-Founder of Shop Circle. “Our vision has always been to create a comprehensive operating system for e-commerce brands, providing them with the necessary technology to excel in today’s competitive market.”

Shop Circle is actively developing proprietary AI-driven tools and processes to enhance the scalability of their core operations across all phases.

In addition to its comprehensive platform, Shop Circle has launched a data-driven tech stack consultation program. Leveraging AI and hyper personalized data-driven insights, the company aims to optimize brands’ tech stacks, reducing costs and increasing conversions to deliver exceptional customer experiences.

“Since our inception, we have embraced the AI revolution and promptly built several applications to support and automate the majority of our processes, offering a distinct advantage in operating and growing our suite of software. Our goal is to equip e-commerce entrepreneurs with the high-performance tools and expertise they need to scale business effortlessly,” says Gian Maria Gramondi, Co-Founder and COO of Shop Circle. “With our tech stack review program, we are able to help e-commerce companies unlock their true potential by shedding unneeded tech and costs, enabling long-term success and growth.”

The leadership team includes professionals with experience in Amazon, Shopify, Uber, and leading e-commerce brands.

“Shop Circle’s vision to build a leading SaaS platform for the second wave of commerce brands aligns perfectly with our investment strategy, which is to back exceptional founders building differentiated businesses in large markets,” shares Nnamdi Okike, Co-Founder and Managing Partner at 645 Ventures. “We believe that Shop Circle will be a driving force in shaping the future of e-commerce, and we are proud to support Luca, Gian Maria, and the team in their growth journey.”

“We have great trust in Luca, Gian Maria, and the whole Shop Circle team, as their dedication to creating an exceptional merchant’s experience matches what we look for in entrepreneurs at 3VC. We’re excited to join them on their journey, expecting remarkable success in their future,” adds Peter Lasinger, Partner and Founder with 3VC.

“We’re thrilled to announce our partnership with Shop Circle, the software suite for e-commerce brands. At i80 Group, we’re captivated by the strong growth potential and execution capabilities of the Shop Circle team in the e-commerce enablement space, which Shop Circle is playing a leading role in shaping. We look forward to supporting Shop Circle in their next phase of growth,” says Peter Frank, Managing Director at i80 Group

Shop Circle takes great pride in serving already more than 100,000 e-commerce brands around the globe, cementing its commitment to empowering merchants with cutting-edge technologies and insights for unparalleled growth.

About Shop Circle

Shop Circle, a leading provider of e-commerce software, is a data and technology-driven company dedicated to revolutionizing the e-commerce industry through its comprehensive suite of cutting-edge technologies. By delivering a one-stop solution to innovative e-commerce brands, Shop Circle empowers online merchants to achieve sustainable, continuous growth. With a commitment to innovation, Shop Circle serves over 100,000 businesses worldwide. Shop Circle was founded in 2021 by entrepreneurs Luca Cartechini and Gian Maria Gramondi. For more information about Shop Circle, visit www.shopcircle.co.

About 645 Ventures

645 Ventures is an early-stage VC firm partnering with exceptional founders to build iconic companies. We invest in Seed and Series A stages, using our Voyager platform and network to support scaling. Notable growth-stage firms include Iterable, Goldbelly, Resident, and more. With $550m+ AUM and strong backing from institutions, 645 operates from NY and SF. Learn more at www.645ventures.com.

About 3VC

3VC is a European venture capital group that invests in a carefully handpicked group of European technology startups with global ambition. Focusing on Series A, 3VC’s entrepreneurial team provides tireless support and access to an international co-investment network of VC partners. 3VC’s backs category-defining companies like Assaia, Kaia Health,Lokalise, Picsart, Storyblok, and Tatum. More information at https://three.vc/.

About i80 Group

i80 Group is an investment firm designed to propel the innovation economy forward by empowering growth. The firm provides bespoke financing solutions that are unique to each investment partner’s needs and are designed to help companies advance through critical growth milestones. The firm has offices in New York, San Francisco, and London. For more information, please visit www.i80group.com.

Shop Circle Media Contact
Jonny Sekula, KCPR
[email protected]
+1-415-601-5555

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SOURCE Shop Circle

TAMPERE, Finland, Sept. 6, 2023 — Bioretec Ltd, a pioneering company dedicated to advancing biodegradable orthopedic implants, has received a grant of a maximum of EUR 0.97 million for its research and development (R&D) work from Business Finland’s Co-Innovation project funding for the period 1 March 2023 – 28 February 2025. The grant amount represents 50% of the R&D project’s costs, which in maximum, are estimated at EUR 1.95 million.

In this Business Finland-backed Intelligent Medical Device Solutions to Global Market (IMD1) Co-Innovation project, a consortium composed of various entities possesses complementary knowledge and skills essential for generating innovative solutions in the field of biomaterials within the healthcare sector.

As a part of this project, Bioretec is dedicated to researching and advancing the understanding of the use of biomaterials in the context of bone fracture fixation. The primary focus revolves around the development of coatings for RemeOs™ magnesium alloys. This innovation aims to enhance our ability to control and direct degradation processes, consequently also broadening the scope of indications for RemeOs™ products.

“Following our recent achievement of market authorization for our RemeOs™ screw in the U.S., we are continuing to explore materials and technologies to expand our portfolio of trauma products. This grant will contribute to our efforts.  We are deeply appreciative of Business Finland’s trust and support, recognizing Bioretec’s capabilities and the consortium’s dedication to delivering intelligent medical devices to a demanding global market.” said Timo Lehtonen, CEO of Bioretec.

Business Finland’s Co-Innovation funding program brings together R&D projects of companies and research organizations to promote high-quality research, accelerate renewal and international growth, and build competitive innovation ecosystems. Joint projects are formed based on specific eligibility criteria and by a consortium of at least two companies that apply for funding from Business Finland for a joint R&D project.

Further enquiries

Timo Lehtonen, CEO, tel. +358 50 433 8493
Johanna Salko, CFO, tel. +358 40 754 8172

Bioretec in brief

Bioretec is a globally operating Finnish medical device company that continues to pioneer the application of biodegradable orthopedic implants. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries. 

Bioretec is developing the new RemeOs™ product line based on a magnesium alloy and hybrid composite, introducing a new generation of strong biodegradable materials for enhanced surgical outcomes. The RemeOs™ implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The combination has the potential to make titanium implants redundant and help clinics reach their Value-Based Healthcare targets while focusing on value for patients through efficient healthcare. The first RemeOs™ product market authorization has been received in the U.S. in March 2023, and in Europe, the CE-mark is expected to be received during 2023. Bioretec is positioning itself to enter the addressable USD 7 billion global orthopedic trauma market and become a game changer in surgical bone fracture treatment.

Better healing – Better life. www.bioretec.com

SOURCE Bioretec

Funding Accelerates Buildout of Pilot Plant Capable of Producing More Than 5,000 Gallons of SAF Annually

CAMBRIDGE, Mass., Sept. 6, 2023 — Lydian, a startup aiming to produce sustainable, CO₂-derived fuels and chemicals, has announced $12M in new seed funding co-led by Congruent Ventures and Galvanize Climate Solutions. Participating investors included Grok Ventures, Voyager Ventures, Union Square Ventures (USV), Overture VC, and Overlap Holdings. This funding adds to $3M in previously unannounced funding in June 2022 from Congruent, USV, Voyager, and Global Founders Capital. The company plans to use the new funding to build an integrated pilot plant in 2024 which will be capable of producing over 5,000 gallons of SAF per year. Lydian is already producing small quantities of e-fuel in its Cambridge-based lab.

Lydian’s proprietary, high-temperature electric reactor enables the production of the world’s lowest cost e-fuels, a category of drop-in alternatives to transportation fuels made from captured CO₂ and renewable electricity. Lydian also aims to produce carbon-negative versions of many other industrial chemicals. 

Demand for sustainable aviation fuels (SAFs) has surged in recent years as airlines push to reduce their greenhouse gas emissions and new regulations seek to mandate increasing use of SAF across the aviation industry. E-fuels are expected to be an important piece of the puzzle, with some experts estimating that they could contribute as much as 60% of final energy demand for aviation by 2050. But e-fuels are currently very expensive, largely as a result of their significant energy requirements.

“We are pulling the energy efficiency lever,” said Joe Rodden, Lydian’s CEO. “We believe fuels produced with our technology will consume less energy per gallon than any other e-fuel.” 

Lydian’s technology can achieve a total energy consumption approaching 2 kWh per kilogram for the reduction of CO₂, a key step in the process, which the company says will be 30% to 50% lower than competing technologies like CO₂ electrolysis. At the scale projected for e-fuels, this could represent a total annual energy savings of more than 200 TWh (terawatt-hours), equivalent to the electricity consumption of over 20 million households.

Lydian has also demonstrated a version of its technology that can use alternative hydrogen sources like biomethane, which could further reduce energy consumption relative to water electrolysis.

“Lydian is the best-positioned technology we have come across in this space,” said Joshua Posamentier, co-founder and managing partner, Congruent Ventures. “Joe, Branko and the team have made incredible progress over the past 12 months to help drive e-fuels to market in a massive way.”

“The development of sustainable aviation fuels is critical to decarbonizing aviation in-line with climate targets,” said Cliff Ryan, co-head of Innovation + Expansion at Galvanize Climate Solutions. “Lydian, with its differentiated e-fuel technology and extremely effective team, which we have been fortunate to get to know over multiple years, represents an exciting solution in various hard-to-abate sectors over time.”

“We’re lucky to have an amazing team of scientists and engineers who are setting a rapid pace of development,” said Branko Zugic, Lydian’s CTO. “We look forward to tapping into the deep talent pool in the greater Boston area as we continue to grow the team with this capital.”

The U.S. Department of Energy’s SAF Grand Challenge Roadmap set a domestic production goal of 3 billion gallons by 2030 and the EU recently passed a law that will require the use of SAF at EU airports, increasing to 70% of total fuel consumption by 2050. In an effort to meet these targets and their own sustainability initiatives, airlines have signed agreements to purchase over 10 billion gallons of SAF globally over the coming years, with more than half of that volume already committed since last year.

About Lydian
Founded in 2021, Lydian is addressing more than 10% of global greenhouse gas emissions by creating the fuels, plastics, and other chemicals we need out of carbon dioxide and water, not petroleum. For more information, visit www.lydianlabsinc.com.  

Business Contact:
[email protected]

Media Contact:
Chris Allieri
[email protected] 

SOURCE Lydian Labs

Led by 83North, This Round of Financing Brings Total Funding to Over $100 Million

TEL AVIV, Israel, Sept. 6, 2023 — Ibex Medical Analytics (Ibex), the leader in AI-powered cancer diagnostics, today announced it has closed a $55 million Series C financing round led by 83North. Additional participants in the round were Sienna Venture Capital and existing investors in the company, Octopus Ventures, aMoon, Planven Entrepreneur Ventures and Dell Technologies Capital. The financing brings total funding to over $100 million since Ibex’s inception in 2016.

Ibex is transforming cancer diagnostics with AI-powered solutions that help pathologists improve the quality of diagnosis and support laboratories with enhanced efficiency and better turnaround times. Cancer incidence is rising around the world while its diagnosis becomes more complex and nuanced, causing heavy workloads for pathologists and laboratories. The increasing demand is compounded by a global shortage of pathologists who still rely heavily on manual work and solely on visual analysis of biopsies. Ibex’s Galen platform helps overcome these challenges with AI-powered workflows and decision support tools that pathologists use in their everyday practice.

“Ibex is leading the market in live customer deployments as we remain steadfast in our mission of providing every patient with a timely, accurate and personalized cancer diagnosis,” said Joseph Mossel, Co-Founder and CEO of Ibex. “This latest financing round will enable us to take major steps toward reaching our goal. We will be using the funds to expand our footprint in the United States to meet the increasing demand for AI-powered diagnostic solutions, and to accelerate the growth of our product portfolio to create more tools for pathologists and labs as they digitally transform their practices. This financing round highlights our strong commercial momentum and our tenacity in pursuing the opportunities that lie ahead.”

Ibex’s Galen platform is the most widely deployed AI technology in pathology and has been deployed in laboratories and pathology departments around the world. Ibex achieved several significant milestones recently, including live deployment of Galen at University of Pittsburgh Medical Center (UPMC), the completion of national roll out throughout Wales, and collaboration with AstraZeneca and Daiichi Sankyo for the development of an AI-powered biomarker scoring product for breast cancer. Galen provides health systems and diagnostic laboratories with an integrated solution for cancer diagnosis and biomarker scoring, capable of detecting more the 100 different cancer and non-cancer pathologies while offering enhanced interoperability with scanning systems, image management solutions and lab information systems. Ibex was recently showcased in a KLAS Research report which provided consistently favorable feedback from global customers.

“Our continued investment in Ibex is a testament to the company’s progress in recent years, bringing its unparalleled technology to laboratories, hospitals and digital pathology networks worldwide, catapulting the industry into an AI-powered era,” added Gil Goren, Partner at 83North and Board Director of Ibex. “Ibex’s successful deployments demonstrate its responsiveness to market and customer needs, while its product portfolio continues to grow and meet new market demands. We are eager to see Ibex forge the way with new uses of AI in cancer diagnosis, supporting providers as they work to improve patient care and outcomes.”

About Ibex Medical Analytics

Ibex Medical Analytics (Ibex) is transforming cancer diagnostics with world-leading, clinical grade AI-powered solutions, empowering physicians to provide accurate, timely and personalized cancer diagnosis for every patient. Our Galen™ suite of solutions is the first and most widely deployed AI-technology in pathology and is used as part of everyday routine, supporting pathologists and providers worldwide in improving the quality and accuracy of diagnosis, implementing comprehensive quality control, reducing turnaround times and boosting productivity with more efficient workflows. Ibex’s Artificial Intelligence technology is built on Deep Learning algorithms trained by a team of pathologists, data scientists and software engineers. For additional company information, please visit https://ibex-ai.com/ and follow us on LinkedIn and Twitter.     

The Galen™ platform includes certain solutions which are CE marked and registered with the UK MHRA. The solutions are for Research Use Only (RUO) in the United States and not cleared by the FDA. For more information, including indication for use and regulatory approval in other countries, contact Ibex Medical Analytics.

Media Contacts

Ibex Medical Analytics
Nechama Rosengarten
FINN Partners
Nechama.rosengarten@finnpartners.com  
+1 929 588 2009    

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SOURCE Ibex Medical Analytics

Streamlined Ventures led recent round of $3.5 million of new investment to further accelerate development of the Antaris Cloud Platform

LOS ALTOS, Calif., Sept. 6, 2023 — Antaris, the software platform for space, announced the company has closed a preferred seed funding round of $3.5 million, led by California-based Streamlined Ventures. In conjunction with its initial seed and seed extension rounds, Antaris has now raised nearly $10 million, significantly exceeding original seed-stage investment targets. Ullas Naik, Founder and General Partner of Streamlined Ventures, has joined the Antaris Board of Directors.

“Our investors have been tremendous champions of Antaris at every step of the way,” said Tom Barton, Co-Founder and CEO of Antaris. “The addition of Streamlined Ventures to our strong investor base will help us to accelerate the next stage of our growth, and we welcome Ullas to our Board of Directors.”

“This is an incredibly exciting time for the space ecosystem,” noted Ullas Naik, Founder and General Partner of Streamlined Ventures. “Antaris is the first company we’ve seen that is committed to building a pure-play software and SaaS company to support satellites and space data networking. This platform is game-changing for anyone looking to put a satellite into orbit or to operate satellite constellations.”

The round also includes additional investment from existing insiders—including venture capital firms HCVC, E2MC and Antaris founders. The company’s first seed round and a recent seed extension were completed in partnership with existing investors Acequia Capital, HCVC, Possible Ventures, Lockheed Martin Ventures, E2MC and Ananth Technologies.

Antaris was recently awarded a contract to support the US Department of Defense and is preparing to launch its second technology demonstration satellite, JANUS-2, in the coming months.

About Antaris
Antaris, the software platform for space, is on a mission to make space open, accessible and scalable. We dramatically simplify the design, simulation and operation of satellites, giving customers the flexibility and security to deliver mission success at a fraction of typical costs. Learn more at www.antaris.space

SOURCE Antaris