Startups have changed deposit strategy, are earning more interest than ever before and JP Morgan has earned significant market share

SAN FRANCISCO, Sept. 26, 2023 — Kruze Consulting, the startup CFO consulting firm with more than 800 venture funded startup clients, has analyzed banking data from 400+ startups with more than $4BN in deposits. The data showcases the massive shifts in the sector post SVB and FRB collapses. Full details can be found on the Kruze Startup Banking page, but highlights below:

• During the crisis, FRB lost more of its deposits (as a percentage) than SVB – likely due to the fast takeover of SVB (vs. the slow death of FRB) and how SVB’s venture debt made its cash deposits stickier
• JPMorgan grew its startup market share from 12% to 60%, through organic growth and the strategic acquisition of FRB – although FRB continues to lose deposits
• Startups have diversified their banking relationships significantly; the median startup now has 2 banks vs 1 prior to the crisis, and the average amount of cash startups kept at any single bank dropped from over $6.25 million to $4 million since the crisis.
• SVB saw average deposits drop from $8.5 million to $4 million
• FRB saw average deposits drop from $8.8 million to $2.7 million

One of the biggest and most compelling shifts is the market share that JP Morgan was able to acquire during the crisis – moving from just 12% to 60% with the acquisition of FRB. While FRB continues to lose deposits, JP Morgan has positioned itself as a major player in the future of startup banking. With the acquisition of FRB, JP Morgan has touchpoints at every level of the startup ecosystem. It is very likely that during the next startup IPO boom, JP Morgan will be able to be a partner to startups from the earliest stages all the way through IPO.

Additionally, startups have shifted the way they engage with banks – with startups having at least 2 banking relationships on average. With the increases in interest rates, startups have also shifted the way they manage capital by moving cash increasingly into interest-generating accounts. In December of 2022, only about 10% of startup cash was in treasuries but as of June 2023 30% of startup cash is now earning interest in treasury accounts. Because of that shift, startups are earning 50% more in interest than they were a year ago – up from $12,000/mo in December of 2022 to $17,000/mo in June 2023.

About Kruze Consulting

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

Press Contact

Mike West

(415) 689-8574

[email protected] 

SOURCE Kruze Consulting

NEW YORK, Sept. 26, 2023 — NightRide Thermal (Brooklyn, NY) is proud to sponsor a new series called Sasquatch University on Wild TV and Wild TV Plus (Edmonton, Alberta), which premiers today, September 25th at 5:30 pm ET. NightRide provides vehicle-mounted thermal cameras for reliable identification of animals and people in total darkness.

Wild TV, which is Numeris-rated as the number one outdoor programming provider in Canada, has forged a new content partnership with Ryan Willis, founder of the Ontario-based Trent University Sasquatch Society. Willis is also producer and host of the new Canadian series Sasquatch University.

Sasquatch University dives into the phenomenon of Bigfoot in Canada. Willis and his team explore different locations across the province of Ontario. Using eyewitness reports, hunting techniques and professional instruments, the Sasquatch University team is out to prove the existence of the legendary creature known as Bigfoot. NightRide donated two of its vehicle-mounted cameras for the thermal image capture of this exciting exploration.

“We are thrilled to be part of this adventure,” said Mary Ellen Kramer, CEO of NightRide Thermal Inc. “Given that the woods where the search is taking place are pitch black, we expect that any sightings or evidence of Sasquatch would show up first on the NightRide camera. We love being on the frontline with Ryan and his team.”

Willis commented: “The Sasquatch University team and I are excited to be working with Wild TV to not just share our passion of Sasquatch research and education with people worldwide, but to entertain them as well. We are very excited to be working with NightRide Thermal. Their products have greatly benefited us in gathering Bigfoot evidence. They keep us safe out in the woods and allow our entire team to have exceptional vision at night and identify heat signatures. We hope everyone gets a chance to check them out on Sasquatch University with episodes airing Mondays beginning September 25th at 5:30 pm EST on Wild TV and Wild TV Plus.”  See: https://wildtv.ca/schedule

About NightRide Thermal

NightRide Thermal (https://getnightride.com), the leader in vehicle-mounted thermal cameras, enables reliable visibility and identification of animals, people, and risks in darkness, smoke, and low-visibility conditions. NightRide offers a range of mounting options, features, and price points. Made in NYC, NightRide’s cameras serve daily drivers, public safety, emergency management, government, security, wildlife-control, sporting and defense.

About Sasquatch University

Sasquatch University (https://www.sasquatchuniversity.com)  is a research team founded by Ryan Willis and executive members of the Trent University Sasquatch Society. Their goal is to educate the public about Sasquatch / Bigfoot and to spread discussion about Sasquatch in the academic setting. It is a very under-researched field, considering the number of sightings and evidence. The Sasquatch University team wants to inspire university students to create their own organizations, as well as prove the existence of the creature known as Bigfoot.

About Wild TV Inc.

Wild TV Inc. (www.WildTV.ca) is entering its 19th year of operation. Wild TV partners with Canada’s most prominent television carriers, including Shaw Communications, Shaw Direct, Bell, Rogers, Telus, Videotron, Cogeco, MTS, Sasktel, and Eastlink, as well as to all CCSA members. Wild TV is available 24 hours a day, seven days a week to Canadian households and is open to a growing number of European countries. Wild TV+ provides outdoor enthusiasts with the only industry app-user experience where both species and regions categorize content for easy navigation.

Contacts:

House of Baron
NightRide Thermal
347-509-5880
[email protected] 

Destiny Anderson
Marketing & Communications
Wild TV Inc.
780-710-2483
[email protected] 

SOURCE NightRide Thermal Inc.

 SAN FRANCISCO, Sept. 26, 2023 — Erudit, a global AI company that helps leaders improve culture and productivity, announces its $10M Series A round led by Conexo Ventures, Athos Capital, Ignia Partners, True Blue Partners and Fondo Bolsa Social. The funds will fuel Erudit’s workforce intelligence technology development and revenue growth. Erudit’s software-as-a-service uses AI to produce actionable insights on over 100 workforce indicators, such as burnout risk, engagement, and turnover risk.

“This fundraise validates what we already knew about the HR industry—real time, actionable workforce intelligence insights impact business beyond instinct and unreliable survey data,” says Alejandro Martinez Agenjo, Erudit’s CEO. “Culture is not just about employee resource groups and pizza parties, which became clear as Chief People Officers gained a seat at the executive table during the pandemic. Erudit is giving people leaders the tech needed to maintain the best workforce at top performance.”

Erudit connects with companies’ internal data through Google Workspace, Slack, Teams or Zoom to give them real-time work environment reports that are anonymous and segmented by team. This helps companies understand which groups of employees are at risk to churn, having a negative experience, experiencing harassment, and much more.

Users can view trends and heatmaps, sort by demographics, and create action plans to address problem areas. This platform helps businesses overcome the limitations of employee surveys and offers a comprehensive understanding of workplace culture dynamics.

Erudit´s ability to raise this round during a time of economic uncertainty demonstrates the confidence of investors in the company’s mission and its growing recognition in the market. “Our reasons for partnering include good strategic fit and team progress over the observation period,” shares Sunil Grover, Managing Partner at True Blue Partners.

Originating in Spain, Erudit has expanded its global presence with a diverse team across three continents and a growing footprint in Europe, the U.S. and Latin America.

For more information about Erudit and to get a free trial, visit their website at www.erudit.ai.

About Erudit

Erudit is an AI-SaaS platform empowering leaders with real-time workforce insights that drive better decision making. Erudit was founded by Alejandro Martínez Agenjo, an entrepreneur and psychologist, alongside Ricardo Michel Reyes, known as an AI and mathematics prodigy. Download Erudit’s Press Kit and Photos here.

Press contact: Alejandra Lorente
Email: [email protected]
Phone: +420703124835

SOURCE Erudit

Climate Tech Company Partners with South Korean Multinational Giant to Tackle Cattle Methane Emissions – Groundbreaking Solution to Remove Up to 10 Million Metric Tons of CO2-e Annually

HENDERSON, Nev., Sept. 26, 2023 — CH4 Global, Inc., a climate tech company on the path to scalable and profitable production of products that enable the food industry value chain to radically reduce GHG emissions, today announced partnership with multinational conglomerate, Lotte International. The intent of the strategic partnership is to bring Methane Tamer™, ruminant enteric methane-reduction technology, to South Korea. CH4 Global and Lotte International are currently advancing studies for regulatory approval in South Korea in consultation with the government.

The partnership includes the initial supply to the Lotte-owned Australian feedlot, Sandalwood, for up to seven thousand head of cattle, primarily Wagyu Beef. As CH4 Global’s exclusive partner in South Korea, Lotte will provide up to four million cattle with the enteric methane-reducing feed supplement.

The climate impact, from reduced emissions, for four million cattle would be as much as ten million metric tons, or a conservative estimate of seven million metric tons of CO₂-e per year (GWP100).

The target launch is 2025, with Lotte leading commercialization and CH4 Global manufacturing and supply product.

“As a company that operates a beef business in Australia, reducing methane gas is a very important ESG issue. Therefore, we are actively working together with CH4 to reduce methane gas generated at Sandalwood and supply low-carbon beef in the market. In addition, we are working to introduce CH4 Global products in Korea to support the Korean government’s goal of reducing methane gas emissions,” said Ki-ho Jeong, CEO of Lotte International.

“From the start, CH4 Global has been focused on developing the products and partnerships that enable us to reach our critical goal of reducing methane emissions on a global scale. This partnership with Lotte is another step in the direction of achieving our vision and putting our groundbreaking feed additive in the hands of farmers and food producers worldwide,” said Steve Meller, CEO and co-founder of CH4 Global.

CH4 Global’s unique solutions provide the best market opportunity to rapidly scale, and along with partners such as Lotte, the opportunity to massively reduce climate impact. 

Methane Tamer™ uses a red seaweed (Asparagopsis) which, when added to cattle feed, drastically reduces the animals’ methane emissions by up to 90% while also reducing the feed energy lost to methane emissions. 

The 1.5 billion cows on the planet produce more than 150 million tons of methane annually — the largest single source of methane globally. At more than 12 billion tons CO₂-e per year (at an average of 100 kg methane/cow), this is a larger GHG output than from the US, the EU, and India combined. Moreover, the UN cites methane as over 80 times more impactful than CO₂ on global warming over the next 20 years. 

About Lotte International
Lotte group, which includes Lotte International, is the sixth largest company in Korea. Lotte consists of over 90 business units employing 60,000 people engaged in such diverse industries as candy manufacturing, beverages, hotels, fast food, retail, financial services, industrial chemicals, electronics, IT, construction, publishing, and entertainment. Lotte runs additional businesses in China, Thailand, Malaysia, Indonesia, Vietnam, Cambodia, Uzbekistan, India, United States, United Kingdom, Kazakhstan, Russia, Philippines, Myanmar, Pakistan, Poland, Australia and New Zealand. Lotte International, founded in 1974, is a main company dedicated to producing and sourcing agricultural products and food ingredient within Lotte group.

About CH4 Global
CH4 Global, founded in 2018, is on an urgent mission to bend the climate curve, through collaboration with strategic partners worldwide. Led by a world-class team of senior business builders, scientists and entrepreneurs, the company delivers market-disruptive products that enable the food industry value chain to radically reduce GHG emissions. The company’s first innovation, Methane Tamer™ feed additives for feedlot cattle, harnesses the power of Asparagopsis seaweed to reduce enteric methane emissions by up to 90%. CH4 Global is headquartered in Henderson, NV, with current subsidiaries in Australia and New Zealand. Learn more about CH4 Global and our recent news.

Media Contacts – CH4 Global, Inc.
For press inquiries in North America, Latin America, and Europe
Charlene Moore, Public Relations Officer, and Communications Counsel
[email protected] | P: +1 725 272 5732 | M: +1 831 331 5332

For press inquiries in Asia, Australia, and New Zealand
Verity Edwards, Hughes Public Relations and Communication Counsel
[email protected] | P: 08 8412 4100 | M: 0412 678 942

SOURCE CH4 Global, Inc.

360ofme’s seed round led by Invest Detroit, Michigan Rise, and Ann Arbor Spark propels growth amidst increasing global privacy regulation, expanding demand for data privacy solutions.

DETROIT, Sept. 25, 2023 — 360ofme, the ethical data exchange platform, raised seed funding from three Michigan-based investment firms while growing their team with two new executives, Kara Grasso as Head of Strategy and Revenue and Philippe Le Berre as Chief Technology Officer. The new investment will increase the speed of product development, hiring, and facilitate the commercial launch of their product. The emphasis seen today on privacy and data management, as evident from both a regulatory and consumer mindset perspective, presents fortuitous timing for 360ofme’s launch to empower businesses in championing ethical data use.

On September 11, 2023, Delaware signed into law the new Delaware Personal Data Privacy Act, joining 11 other states with comprehensive consumer data privacy legislation. Publicized as the ‘strongest privacy bill in the nation’ the law contributes to the expanding and intricate landscape of data privacy regulation in the US. Coupled with the burgeoning regulatory environment around data privacy, consumers’ level of trust in corporate handling of personal data is at an all-time low. In fact, Cisco’s 2022 Consumer Privacy Survey revealed that 76% of consumers refrain from purchasing from organizations that do not have trustworthy data policies.

360ofme is gaining traction to address these very issues, enabling businesses to empower their customers to leverage their own data, deliver deeper insights, and generate new revenue streams —all while driving brand loyalty and trust. 360ofme enables secure data sharing, learning, and monetization by overseeing data collection, consent management, and compliance. As a privacy guardian, the platform delivers rich insights and drives growth while upholding world-class privacy standards.

“Empowering consumers to own their personal data is particularly important in our mobility decisions as cars have become an extension of our lives,” shares Grasso, former Global Strategy Lead at DuPont. Throughout her career, Kara has excelled as an advanced mobility strategist focused on new business development and revenue growth in electrification and autonomy. Kara was awarded the Automotive News’ Rising Star of 2021 and joins 360ofme as their Head of Strategy and Revenue. On the technical side of the business, Philippe Le Berre, three-time founder, entrepreneur, and technology leader, joins 360ofme as their Chief Technology Officer. As a strategic technical leader with multiple patents to his name, Philippe has extensive experience in product development, cybersecurity, privacy, and AI across all stages of the product lifecycle at startups and Fortune 500 companies.

360ofme’s founder and CEO, Cindy Warner, believes there is no better time for a disruption in consumer data management: “As we witness the continued momentum for data privacy to become a basic human right, we are perfectly positioned to drive value for both enterprises and consumers via our ethical data exchange. These three investments in our company, and the trust exhibited by Kara and Philippe, are positive proof that we are in the right place, at the right time, driving the right value creation.”

This sentiment is further reinforced by 360ofme’s investors, who provide a glimpse into how the future of privacy and the digital identity market might be evolving. Patti Glaza, Managing Director of Invest Detroit Ventures comments, “Cindy had the foresight to recognize early on that consumer privacy isn’t just a sideline issue—it’s central to the future of any enterprise handling customer data. Her commitment to empowering consumers to control their own data isn’t just ethical; it’s smart business, and it’s precisely why Invest Detroit Ventures has invested in 360ofme and their endeavors.”

About 360ofme Inc.

As a trusted personal data exchange platform, 360ofme is committed to transforming the paradigm of personal data ownership by rebuilding trust between ethical businesses and consumers. Based on low-code, secure and compliant technology, the platform allows for personal data to be protected, curated, and monetized while end consumers retain full control of their information. At the core, 360ofme’s goal is to solve for increased privacy regulations while adding value to both businesses and consumers. For more information, please visit www.360ofme.com or follow on Twitter and LinkedIn.

About Invest Detroit Ventures

ID Ventures (IDV), the venture team of Invest Detroit, was formed in 2010 to support promising Michigan-based high-tech startups through investment capital and programs that strengthen the startup ecosystem. IDV manages an Evergreen Fund and traditional venture funds that invest in pre-seed and seed-stage startups. IDV provides capital, coaching and mentorship to scale promising early-stage ventures into thriving companies that help grow the state’s economy, provide quality jobs, and bolster Michigan’s growing startup community.

About Michigan Rise

Michigan Rise is a wholly owned venture capital subsidiary of the Michigan State University (MSU) Research Foundation, operated in partnership with the Michigan Economic Development Corporation (MEDC). Michigan Rise provides early-stage funding to innovative companies that have the potential to transform industries and create jobs in Michigan.

About Ann Arbor SPARK

For nearly 20 years, Ann Arbor SPARK has served as a catalyst for economic development by encouraging and supporting business acceleration, investment, attraction, and retention. Its investment arm, SPARK Capital, provides early-stage funding for Michigan-based technology startups to help them grow and succeed. It has invested in nearly 200 startup companies since inception.

SOURCE 360ofme Inc.

FUSE, backed by the PNW’s juggernauts doubles down on its core fund thesis for its sophomore fund

BELLEVUE, Wash., Sept. 25, 2023 — FUSE, an early-stage venture capital firm focused on the Pacific Northwest, unveiled its oversubscribed $250M sophomore fund. The firm invests in emerging software and AI-enabled startups, and is backed by many of the most high-profile Seattle-based software executives as well as many state-affiliated funds, foundations, and universities. FUSE was founded in 2020 and raised $170M for its inaugural fund and now has over $420M in committed capital. FUSE is focused on investing in startups located in Seattle and the broader Pacific Northwest, including western Canada.

FUSE is led by three Founding Partners, Kellan Carter, Cameron Borumand, and Brendan Wales. Carter and Borumand were formerly part of Seattle-based Ignition Partners, and Wales spent nine years at San Francisco-based Headline. The firm’s founding team also includes Operating Partners John Connors, the former Microsoft CFO and long-time Ignition Partners Managing Partner, Satbir Khanuja, an early Amazon Executive and founder of DataSphere, and Bobby Wagner, the eight-time pro-bowl linebacker for the Seattle Seahawks.

“We are elated to be launching our oversubscribed second fund and thankful for the continued support from our Limited Partners and founders we get to partner with,” shared Cameron Borumand. “We are fortunate to have some of the most notable names in the PNW as LPs which creates a unique ecosystem for our portfolio companies to garner expertise, customers, and potential future M&A opportunities.”

The team founded FUSE on the premise that effective early-stage investing is a locally-focused product and that the Seattle and broader PNW ecosystem was underserved, despite there being over 100 unicorns funded in the region over the past decade. Since the firm started operations, the region has continued to gain innovation momentum, especially as Washington-based Microsoft has emerged as the global AI leader.

“With the entire public cloud flowing through Seattle, there is no team as strong and as prepared as FUSE is to back the emerging technologists coming out of the area,” shared Eric Sprunk, FUSE Limited Partner and former Chief Operating Officer of Nike and current Board Director at Seattle-based Nordstrom and Providence Health.

In addition to Sprunk, FUSE’s Limited Partner network consists of over one hundred tech operators, most of which live within twenty minutes of FUSE’s office. This provides direct community access for FUSE portfolio founders and a more personal experience for them as they begin their journeys.

“The FUSE team knows everybody here,” Chris Weber, FUSE Limited Partner, former Microsoft Corporate Vice President, and current CRO at Gitlab, provided. “They operate a network-effects-driven investment business. Every time they make a new investment or add a local LP, their model gets stronger. Most venture firms get weaker as they get bigger. FUSE is the opposite.”

The FUSE team has the energy and determination to provide a world-class experience and go the distance with founders looking to raise capital. The firm has invested in 31 startups to date ranging from vertical software to machine learning applications including Zuper, which helps businesses automate their field services workflows, and WellSaid Labs, the enterprise choice for AI created voice.

“This team is relentless and hyper focused on winning, with a founder-first mindset.” said Samir Bodas, CEO and Co-Founder of Icertis. “I am proud to support FUSE in nurturing the next generation of PNW entrepreneurs as they build companies that disrupt industries and processes, just like we’ve done at Icertis using AI to transform contracting.”

With the new fund and capital, FUSE will continue investing in the next generation of B2B technology entrepreneurs building category-defining businesses of lasting value. The firm will lead Seed and Series A rounds with check sizes ranging from $1M to $10M.

Get in touch with the team by reaching out at [email protected].

About FUSE

FUSE is an early-stage venture capital firm investing in Pacific Northwest-based Seed and Series A companies that leverage software and AI to improve business processes. FUSE’s sophomore fund is comprised of two parallel funds: Fuse Venture Partners Alpha II, LP and Fuse Venture Partners II, LP. FUSE is committed to supporting the next generation of B2B technology entrepreneurs building category-defining businesses of lasting value. Founding Partners Kellan Carter, Brendan Wales, and Cameron Borumand are joined by Operating Partners John Connors, Satbir Khanuja, and Bobby Wagner. The strategic LP base includes current and former executives at the Pacific Northwest’s top companies, including Microsoft, Amazon, Nike, Starbucks, Costco, T-Mobile, Avalara, DocuSign, Smartsheet, Icertis and many more. For more information about FUSE please visit their website at fuse.vc.

Media Contact
Kelsey Cullen, KCPR
[email protected]
650.438.1063

SOURCE FUSE

The Purdue Technology Center (PTC) will provide AgXelerators with state-of-the-art facilities plus access to world-class resources for research and collaboration.

INDIANAPOLIS, Sept. 25, 2023 — Best-in-class research and innovation requires top notch lab facilities and AgXelerators has found it in the Purdue Technology Center (PTC). Owned and operated by the renowned Purdue Research Foundation, the Purdue Research Park is the largest Certified Technology Park (CTP) in the state of Indiana. More than 250 high-tech companies call the park home, including those working in a wide array of market segments. They range in size from early-stage startups to large publicly traded corporations. Their operations employ more than 5,000 Hoosiers in scientific and technical disciplines, including aerospace, advanced manufacturing, clean tech, cyber, defense, digital agriculture, engineering, information technology, life science and pharmaceutical.

The PTC offers scalable Class A office and wet lab space, as well as shared conference rooms and co-working facilities, including connections to the scientific and technical expertise of faculty and students. 

“This is the perfect place for us,” said Mark Zettler, President & Co-founder of AgXelerators. “It not only has everything we need in terms of premium lab facilities but also puts us in the heart of one of the best research hubs in the world, where we have the added benefit of collaborating with other industry experts.”

Newly-formed AgXelerators is rapidly expanding their agriscience business. They partner with biological and chemical crop protection companies to formulate their active ingredients into efficient, sustainable, commercial products. From initial concept to rapid prototype formulation development, field demonstration, product registration and market introduction, AgXelerators delivers end-to-end support and partnership to its clients.

“This is the first announcement of many,” said Zettler. “There is a real need for experts like us who are uniquely qualified to provide the services that we do to the agriculture industry, and we are growing quickly. We are currently in the process of creating and staffing for a second research and development space. More to come on that soon.”

About Purdue Research Foundation 

Purdue Research Foundation is a private, nonprofit foundation created to advance the mission of Purdue University. Established in 1930, the foundation accepts gifts; administers trusts; funds scholarships and grants; acquires and sells property; protects and licenses Purdue’s intellectual property; and supports creating Purdue-connected startups on behalf of Purdue. The foundation operates Purdue Innovates which includes the Purdue Office of Technology Commercialization, Incubator, Startup Foundry and Purdue Ventures. The foundation manages the Purdue Research Park, Discovery Park District, Purdue Technology Centers and Purdue for Life Foundation. For more information on licensing a Purdue innovation, contact the Office of Technology Commercialization at [email protected]. For more information about involvement and investment opportunities in startups based on a Purdue innovation, contact Purdue Innovates at [email protected]. 

About AgXelerators Inc.

AgXelerators enables innovators of new biological and chemical crop protection, biostimulant, biofertilizer and soil regeneration products to rapidly prototype, test, develop and register their new products for production agriculture. AgXelerators is uniquely qualified to accelerate the development of new, innovative discovery research candidates from around the world into sustainable, commercially viable formulated products. Additionally, AgXelerators leverages their extensive global network of industry connections to foster partnerships that help them succeed. To learn more or inquire about investment opportunities, please visit agxelerators.com.

Media contact:
Jacquie Maggio
Think3 Marketing
973.462.7008
365817@email4pr.com

SOURCE AgXelerators Inc.

SARASOTA, Fla., Sept. 25, 2023 — Ziptek LLC, a Sarasota-based company specializing in knotless tissue repair and attachment solution devices for surgeons, has returned from a successful equity offering presentation at the prestigious New York Venture Forum held at the Javits Center in Manhattan.

Dr William F Bennett MD, the founder of Ziptek, led the delegation. Ziptek has developed a locking resorbable suture button repair system that overcomes present problems with suture loop technology, which, and with especially rotator cuff repairs, has a high re-tear or non-healing rate. The forum featured three halls solely dedicated to the Medtech sector, emphasizing the importance and potential of this rapidly evolving field.

You can view the actual presentation here.

Strong Competition in the Medtech Sector

The competition at the forum was intense, with seasoned executives from international powerhouses such as Medtronics and Boston Scientific presenting on behalf of companies with a broad range of innovative products. Ziptek found itself in an esteemed company with businesses hailing from the Netherlands, Israel, France, and Canada.

Examples of competing companies included:

• Sensius: A Dutch company specializing in thermotherapeutic approaches to cancer
• Pathkeepers: An Israeli firm focused on non-radiating spine imaging devices
• Abys: A surgical planning company from France
• Aero Hygenx: A Canadian enterprise creating robots for disinfecting hospital rooms
• June Brain: A Baltimore-based company using AI and eye-scanning technology to detect brain diseases

Positive Reception and Promising Leads

Despite this formidable competition, Ziptek LLC was not only noticed but also lauded for its innovative approach. The company was seeking an investment of $1.5 million, while numerous other companies in the same category were seeking $10 million or more. Ziptek received multiple compliments from seasoned presenters and gained significant international leads.

“We are honored to have participated in the New York Venture Forum,” said Dr. William F. Bennett. “The positive reception Ziptek received amid such esteemed competition speaks volumes about the potential impact of our devices in the healthcare industry.”

Dr Bennett also met with Ziptek’s Key Opinion Leader for Foot and Ankle Surgery (Ziptek’s ZipE devices for the ZiPoPlasty technique), Dr Pete Mangone MD at the annual American Orthopedic Foot and Ankle Meeting in Louisville, Kentucky.

Dr. Mangone is the present President of the American Foot and Ankle Foundation and has been at the forefront of new technology in foot and ankle surgery

Multiple companies that were looking to add soft tissue repair devices to their product line spent dedicated time learning about the Zip E technology, engineered mechanically and biologically to sync with natural tissue healing.

What’s Next for Ziptek LLC

With a robust pipeline of research and development projects and the promise of international collaborations, Ziptek LLC is set to make significant contributions to the Medtech industry.

For more information about Ziptek LLC, its products, or upcoming developments, please visit https://www.ziptekglobal.com/. You can also view the entire presentation discussed above directly on the ZIptek website here.

Contact: Dr. William F. Bennett
Phone: 941-228-3226
Email: [email protected]

SOURCE Ziptek LLC

NASHVILLE, Tenn., Sept. 25, 2023 — Genus AI, a generative AI platform for D2C and e-commerce brands, announced it has secured over $6 million in a seed round extension, bringing the company’s total seed funding to $11 million. New investors include one of the leading US social media platforms; Aleph Group Inc. an ecosystem of global digital experts and technology-driven solutions that enables the growth of digital marketing and strategic angel investors such as Kazuki Ohta, Co-Founder & CEO of Treasure Data, Magnus Lundin, Founder of Heep Agency, Tomas Slimas, Co-Founder of Oberlo (acquired by Shopify) and others.

This funding has allowed Genus AI to become one of the leaders in supporting direct to consumer and e-commerce brands with generative AI solutions to increase growth across social channels such as Facebook, Instagram, TikTok, X and Pinterest. Previously the company received funding from leading Venture Capital and Angel investors in Europe and the US such as Picus Capital, Transamerica Ventures, Maschmeyer Group Ventures, HDI and others.

The firm plans to invest into GTM infrastructure as well as incorporating additional integrations and features within the platform building upon the company’s current lead as a first mover in the generative ad space for e-commerce use cases.

“This year alone we have generated over 10 million product images for leading e-commerce and D2C brands such as Parks Project, Annie Selke, Awe Inspired, Peter Thomas Roth and many others. Artificial intelligence is transforming how brands grow and engage with their customers. This rapidly evolving AI technology should be accessible to all and we are working hard to open it up for brands of any size.” said Dr. Tadas Jucikas, CEO, Genus AI.

The Genus AI platform recently announced product catalog feed generation capabilities for Facebook, Instagram, Pinterest, X and TikTok in addition to copy, video and audience generation already developed since the company’s conception in 2017.

Awe Inspired, a popular direct to consumer jewelry company has successfully adopted the Genus AI platform. “We love using Genus AI’s Product Catalog Feed generation for Awe Inspired.” said Kristin Rose, Director of Growth at Awe Inspired. “The ability to have our brand logo on each image for the catalog ads has helped increase brand recognition and consistency across all our social media platforms. The automated image processing has also saved us time and resources, allowing us to focus on other aspects of our marketing strategy.”

Genus AI is a venture backed technology startup which recently moved its headquarters from San Francisco to Nashville, Tennessee. The company operates a leading artificial intelligence technology hub in Vilnius, Lithuania, where it has gathered a team of Europe’s leading experts in machine learning.

The company has been recognized as an AI leader in the space and is part of Stanford’s leading accelerator StartX. Also, it was named among top startups to participate in the 11th annual South by Southwest Pitch competition.

About Genus AI

Genus AI is a generative AI platform for D2C and e-commerce brands. The platform generates product catalog images, seed audiences, copy and video to help brands grow efficiently across social channels such as Facebook, Instagram, TikTok, Pinterest and X. Leading global brands are already using the platform with 10 million product images generated in 2023 alone. The platform is organized into a Creative Hub, Audience Hub and Reporting Hub to simplify and democratize access to cutting edge AI solutions for creative and performance marketers. Founded by technology entrepreneurs, Dr. Tadas Jucikas and Viktoras Jucikas, Genus AI’s mission is to make AI accessible to brands of any size.

Photo – https://mma.prnewswire.com/media/2218343/Genus_Artificial_Intelligence.jpg
Logo – https://mma.prnewswire.com/media/1440625/Genus_AI_Logo.jpg

SOURCE Genus Artificial Intelligence Inc.