NEW YORK, Oct. 23, 2023 — Basis, an AI platform for accounting firms, has emerged from stealth with a $3.6 million seed round led by Better Tomorrow Ventures with participation from BoxGroup, Avid Ventures, several top accounting firms, and leaders from the accounting and machine learning communities. Leading the company are Matthew Harpe and Mitchell Troyanovsky, long-time friends, who believe that the impact of cutting-edge AI on the accounting profession will be on par with the shift from paper to digital, allowing accountants to focus on the most meaningful, value-accretive work such as advising clients, strategizing on complex topics, and building relationships, instead of repetitive, laborious tasks.

Basis is already putting cutting-edge AI in the hands of accountants, indicating just how quickly AI may begin meaningfully touching fundamental parts of our society. Now, Basis is publicly announcing its first two products: an AI assistant called “Basis Intern” designed to help accountants with tax and accounting questions and workflows, and “Basis Accountant,” which sits alongside existing software and gives accountants a team of AI assistants to streamline tasks such as closing books, adjusting entries, reconciling accounts, compiling financial statements, generating work papers, and more.

Basis’ platform also comes on the heels of a national accounting shortage, with many accountants leaving their roles, fewer students seeking accounting degrees, and rising salaries and costs throughout the industry.

Better Tomorrow Ventures, who led the funding round, believes Basis is uniquely positioned to transform the accounting industry through AI.

“While there’s been lots of AI talk recently, we have yet to see recent AI advances start to transform the financial services space. The Basis team is one of the first to help an industry truly transform the way they work. We’re excited to partner with Matt and Mitch in their journey to change the industry and build a solution that’s central to managing and understanding financial data,” said Sheel Mohnot, co-founder of Better Tomorrow Ventures.

Basis plans to use the funding to further develop and scale its platform.

About Basis

Basis is an AI platform for accounting firms. Basis sits alongside existing software and gives accountants a team of AI assistants to streamline workflows, helping firms improve the quality and efficiency of their work. The company was founded in 2023 by Mitchell Troyanovsky and Matthew Harpe.

CONTACT: Mitchell Troyanovsky, [email protected]

SOURCE Basis

NORWALK, Conn., Oct. 23, 2023 — LifeSpan Vision Ventures today announced an investment in Matter Bio, a longevity holding company focused on preserving genome integrity. Central to the company’s philosophy is that as we age, our genome is constantly being damaged by exogenous and endogenous sources. Occasionally errors are missed and incorporated into the DNA in the form of mutations, structural variations, epigenetic drift, and other types of information loss. Matter Bio has assembled a world-class team of scientists and executives to help counter this critical information loss in the genome. To achieve this, the company has adopted a hub-and-spoke model to advance multiple scientific breakthroughs that each intervene at critical junctures of information loss. To date, Matter Bio has three companies under its management, with other opportunities in incubation.

“Matter Bio continues to progress it’s commercial, clinical and research programs and the proceeds from Lifespan Vision Venture’s investment will support the advancement of the company’s portfolio towards key scientific and commercial milestones,” said Chris Bradley, CEO of Matter Bio.

Matter Bio expects to initiate clinical trials for one of its programs in the next 12 months, as well as scale-up an already revenue generating program in the single molecule mutation sequencing space.

Dr. Jordan B. Burton, Scientific Analyst at LifeSpan Vision Ventures, stated: “Our investment in Matter Bio furthers our mission of supporting companies dedicated to longevity and slowing the key drivers of aging. The company’s business model brings academic expertise, efficiency, and scale to pursue the mission of quantifying and reversing DNA damage to prevent diseases of aging and increase healthy lifespan. We are excited to work with such a talented team of pioneers in the genomic space and look forward to seeing how the company can extend healthspan countering critical information loss in the genome.”

About Matter Bio
Matter Bio, co-founded with world-class scientists, including George Church PhD. and Jan Vijg PhD., is a holding company that is advancing multiple scientific breakthroughs each targeting a critical juncture of information loss. Its core assets include accurate mutation sequencing, reversing somatic mutations, and clearing pathological cells, including cancer.

For more information, visit https://matterbio.com/.

About LifeSpan Vision Ventures
LifeSpan Vision Ventures is a forward-thinking venture capital firm specializing in investments within the aging and longevity space. Our mission is to support and accelerate the development of innovative therapies that extend healthspan, improve the quality of life for individuals as they age, and address age-related challenges. Through strategic partnerships and investments, we aim to shape a future where aging is met with vitality, resilience, and endless possibilities.

For more information about LifeSpan Vision Ventures, please visit https://www.lifespanvisionventures.com/.

Contact: Harry Robb
mob: +44 7795042764
[email protected]

SOURCE LifeSpan Vision Ventures

SAN FRANCISCO, Oct. 23, 2023 — One of the NBA’s most iconic players, Andre Iguodala, has officially announced his retirement after a legendary 19-year career. Iguodala, best known for his remarkable tenure with the Golden State Warriors, is transitioning from hardwood success to boardroom brilliance. His next chapter focuses on MOSAIC, a $200 million venture capital fund he recently raised in partnership with his long-time business partner, Rudy Cline-Thomas.

Not just an NBA Champion, but a champion in the venture capital world, Iguodala has been pivotal in redefining how athletes approach business. “When I initially went out to the Bay Area, it was my intent to have success on and off the court,” stated Iguodala. And succeed he did. He’s been instrumental in meetings with major venture capital firms and has made successful investments in companies like Zoom and Cloudflare.

His new venture, MOSAIC, will focus on seed- and early-stage investments across various sectors such as enterprise software, fintech health care, and sports companies. Already, Iguodala and Cline-Thomas have secured investments for innovative companies like Vessel and Athletes First. “I’m not only focused on backing the best early stage founders, but also obsessed with changing the representation of minorities in the industries we’re investing in,” stated Andre.

But Iguodala’s business aspirations don’t stop at venture capital. Already a co-owner of global sports franchises, including Leeds United and the San Francisco branch of TGL (Tomorrow Golf League), Iguodala hints at the possibility of owning an NBA team in the future, stating, “The timing has to be right, but that’s definitely the ultimate goal.”

On the creative front, fans can still stay connected with the NBA star through his podcast ‘Point Forward’, a top-ranking sports podcast he co-hosts with former teammate, Evan Turner.

In reflection on his illustrious career, both on and off the court, Iguodala shared, “It’s been a blessing to play for that long. I don’t know if it’s actually hit me yet.” As the NBA says farewell to one of its legends, the business world welcomes a visionary.

About Andre Iguodala:

Andre Iguodala boasts a stellar 19-year NBA career, with significant achievements such as four-time NBA Champion with the Golden State Warriors, former All-Star, NBA Finals MVP, and two-time Olympic Gold Medalist. Beyond basketball, he’s been at the vanguard of venture capital since 2010, with investments spanning over 50 companies. He co-founded MOSAIC, placing an emphasis on diversity, financial returns, and social impact. Iguodala also penned a New York Times Best Selling memoir in 2019, “The Sixth Man”, and co-hosts with Point Forward Podcast with Evan Turner.

About MOSAIC General Partnership:

MOSAIC is a $200M early-stage venture fund focused on enterprise, fintech, healthcare and sports companies. We’re not only focused on backing the best early stage founders, but also obsessed with changing the representation of minorities in the industries we’re investing in. https://mgp.vc/

SOURCE MOSAIC

The $6.2M round will fuel Flash Pack’s single mission: to create one million meaningful friendships through travel

NEW YORK, Oct. 23, 2023 — Flash Pack, the adventure-travel company specializing in boutique trips for solo travelers in their 30s and 40s, has announced a $6.2M fundraising round led by JamJar Investments and participation from existing investors PPF. 

“In the last two years since the brand’s relaunch, we have seen a massive appetite from customers to build meaningful connections through travel,” said Radha Vyas, CEO and co-founder of Flash Pack. “Solo travel has rapidly grown in popularity as people look to make up for lost time and expand their horizons, and the recent investment indicates the value and opportunity in this growing trend. We are incredibly excited to continue our success within the US market, creating even more friendships in the process.”

Fuelled by a loneliness epidemic and the need for connection, the U.S. has become Flash Pack’s fastest-growing market, with 60% of its total trip sales driven by demand from U.S. travelers.

The recent investment comes almost exactly three years after the pandemic forced the business into bankruptcy, following a series of travel restrictions. Founder and CEO Radha Vyas relaunched the business in 2021, backed by PPF, with a single mission: to create one million friendships by curating meaningful connections and perfecting the group dynamics of every trip.

The business has since grown to a 65-strong team of employees globally, with plans to triple its US employee count within the next six months. The new funds will be used to bolster the company’s product and platform with hires in technology and will formalize its office opening in the market.

Female founders received only 2% of all venture capital funding in 2022, a number that decreases further for female founders of South Asian descent (0.8%). This makes Radha one of a handful of South Asian female founders to have secured investment at this stage of their business.

“At JamJar we’re on a mission to invest in and help grow early-stage consumer businesses who are using tech to disrupt their categories, as well as having a positive impact on the world,” said Richard Reed, JamJar Investments Co- Founder. “Flash Pack is not just revolutionizing the way people travel, but how we interact with one another. More needs to be done by investors to fund female-founded ventures, particularly from women of color. Under Radha’s leadership Flash Pack has escaped the fate of the pandemic and come out better than ever, and so we have high hopes for what they will achieve over the next three years.”

About Flash Pack:

Redefining group tours since 2014, adventure-travel company Flash Pack specializes in creating boutique trips for solo travelers in their 30s and 40s. Each Flash Pack adventure is meticulously designed to include experiences that would be almost impossible to arrange yourself – or too expensive to do on your own. Obsessed with building the best group dynamics, the brand focuses on bringing together like-minded people at the same life stage.

For more information please visit: www.flashpack.com

Photo – https://mma.prnewswire.com/media/2254760/Flash_Pack_US_expansion.jpg

SOURCE Flash Pack

HOUSTON, Oct. 23, 2023 — BB Energy, a leading global independent energy trading company, has successfully renewed and expanded its senior secured borrowing base credit facility (the ‘Facility’) in the Americas. The Facility finances the company’s working capital needs for inventory and receivables in the region.  

The Facility was launched at US $500 million and subsequently increased to US $600 million on the back of a strong oversubscription and can be increased by an additional US $200 million via the available accordion feature. 

Commitments were received from a globally diverse group of 11 banks with a broad geographical split. ING Capital LLC acted as Arranger and Bookrunner in the syndication and will act as Administrative Agent for the Facility, while Citibank, N.A. is the Cash Management Bank.

The other returning banks were Natixis NY, Société Générale NY, HSBC Bank USA, Wells Fargo Bank, N.A., Credit Agricole, UBS Switzerland AG and Garanti Bank International. In addition, two new banks joined the Facility: Deutsche Bank and Mitsubishi UFJ Financial Group, Inc. (MUFG).

BB Energy Regional CFO, Americas, Sergio Marazita, commented: “We are very pleased with the successful syndication of our key credit facility in the Americas. The oversubscription from our banking partners is evidence of their strong confidence in BB Energy.”

“We are very happy to welcome two new banks to the Facility, Deutsche Bank and MUFG. I would like to thank our lead bank, ING Capital LLC, together with all of the existing lenders and the new participating banks. We are grateful for their continued support of BB Energy, and we look forward to working with them,” added Marazita.

“ING is delighted to have played a leading role in the successful renewal of BB Energy’s US Borrowing Base Facility. The entry of new lenders and the resulting large oversubscription is a testament to the maturity of BB Energy’s operations in the Americas,” said Caue Todeschini, Head of TCF Americas at ING. 

Following BB Energy’s successful partnership with Komgo to launch the first U.S. Digital Borrowing Base Facility in October 2021, the Facility will also be a Digital Borrowing Base on Komgo’s digitalized platform. The collaboration with Komgo demonstrates BB Energy and its financial partners’ common objective towards absolute transparency and enhanced integrity through digitalization.

Photo – https://mma.prnewswire.com/media/2253130/BB_Energy.jpg

SOURCE BB Energy

SINGAPORE, Oct. 22, 2023 — Protos Labs, a pioneering cyber risk management company, today announced a successful seed round funding of SGD $3 million. The company plans to use the funds to accelerate its global expansion and product development, as it works to revolutionize the cyber insurance and risk management landscape. The company’s innovative solutions have already garnered the attention of leading organizations such as the Lloyd’s of London and the Cybersecurity Agency of Singapore.

The cyber risk landscape is fraught with constant volatility, making it challenging for enterprises and insurers to stay ahead of emerging threats. Protos Labs tackles this issue by fusing technologies in artificial intelligence, statistical modelling, threat intelligence, and cyber risk management, allowing organizations to make informed and agile risk decisions. This approach enables them to adapt to the dynamic cyber threat environment, providing next-generation solutions to both cyber underwriters and enterprise risk managers.

The seed round saw participation from several prominent investors, reflecting the growing importance of holistic risk prevention and transference solutions. The investors include BEENEXT, VinaCapital Ventures, Artem Ventures (in partnership with FWD Insurance), Plug and Play Silicon Valley, Investible, Gan Konsulindo, 1337 Ventures and Gobi Partners.

Here is what some of their key investors had to say:

Faiz Rahman, Partner at BEENEXT, says, “We are enthusiastic about Protos Labs’ vision and commitment to innovative cyber risk management. As a lead investor, we see the potential for substantial growth in the cyber insurance market and are eager to support this pioneering approach.”

Low Zhen Hui, Managing Partner at Artem Ventures, said, “As Southeast Asia’s digital economy continues to expand, and as cyber threats evolve, the need for a robust and comprehensive cyber risk management tool has become more pressing than ever. We have been working with Protos Labs since last year, as they have been part of FWD’s Startup Studio accelerator program. Having observed their development and enhancement of their cyber risk management platform, we are confident that Protos Labs is well-positioned to address the gaps in the cyber risk space.”

Trung Hoang, Partner at VinaCapital Ventures, added, “Vietnam is an increasingly digital economy with growing emphasis on cyber. Protos Labs’ mission is to be the innovative hub of the region’s cyber insurance sector. With the Vietnamese government promoting digital transformation, Protos Labs can play a part in not just improving cyber security infrastructure but also the lives of Vietnam’s consumers.”

About Protos Labs:

Protos Labs is a cyber risk management company founded by ex-Booz Allen cyber leaders, Joel Lee and Simeon Tan. Accoladed by the cybersecurity authority in Singapore, Protos Labs specializes in cyber risk analytics, helping insurers to underwrite and price cyber risks while continuously minimizing the risk of a cyber incident. They also empower enterprises with real-time risk governance and visibility capabilities. By combining AI and Cybersecurity, Protos Labs pushes the frontier of cyber risk management and resolves to protect businesses in Asia and around the world from real-world cyber-attacks.

SOURCE Protos Labs

Funding round led by Hiro Capital with participation from Makers Fund, KRAFTON, and Sony Innovation Fund

SALT LAKE CITY, Oct. 20, 2023 — Noodle Cat Games, a leading independent game development studio, is excited to announce the completion of its Series A funding round of $12 million led by Hiro Capital, with additional participation from Makers Fund, KRAFTON, and Sony Innovation Fund. Led by gaming industry veterans from renowned studios such as Epic Games, Electronic Arts, and BioWare, the team has worked in leadership roles on legendary titles such as Fortnite, Star Wars: The Old Republic, and Infinity Blade. Noodle Cat is excited to push forward development on their first original IP title, an innovative multiplayer Action RPG..

David Hunt, CEO of Noodle Cat Games, expressed his enthusiasm, saying, “The game industry is ripe for a revolution in how we work – a revolution that maximizes individual creative impact, leading to better games and greater team satisfaction. Over the last year, Noodle Cat has iterated from hypothesis to an effective development structure that has resulted in a unique gameplay experience. We’re excited at the opportunity this fundraising round gives us to fully execute on building awesome games in pursuit of a better future for the industry. I’m deeply grateful to the world-class investors that are supporting our vision.”

Noodle Cat is focused on building a flexible, iteration-based games studio that prioritizes creativity, employee health, career growth, and equitable compensation. The Series A funding round will be used to accelerate development and scale up the team, with the goal of continuing to assemble the best creative talent from across the gaming industry.

Sir Ian Livingstone, General Partner at Hiro Capital, added, “We are privileged to be backing such a strong founding team of industry veterans. I look forward to supporting Noodle Cat as they build a world class studio and implement their vision. We fully support Noodle Cat’s creative approach, their game development process, and their commitment to putting the player first. Most importantly, their game is a lot of fun!”

“We’re thrilled to be part of this exciting journey with Noodle Cat Games,” said Joseph Tou, Managing Director, Sony Ventures. “Their vision for innovation in the Action RPG genre, utilizing physics-based combat, combined with the vast experience of their team, creates a compelling formula for success. They have created a strong culture focused on sustainable growth and success, and we have confidence in their capacity to thrive in the ever-evolving gaming industry.”

More details on Noodle Cat’s inaugural title will be revealed in 2024, but for now, the studio is focused on building out more of the team that will help bring their vision to life. Those interested in applying can find open positions listed at https://noodlecatgames.com/careers.

About Noodle Cat Games: Designed for Creativity

Noodle Cat is an independent game studio, on a mission to change the current standard of game development. Built on a culture of trust, creativity, and empathy, the Noodle Cat team is dedicated to learning, collaborating and pushing boundaries in a healthy, flexible working environment. Founded by former Epic Games and Electronic Arts veterans, Noodle Cat is a fully remote studio. To learn more, please visit https://noodlecatgames.com/.

About Hiro Capital:  Investors in the Future

Hiro Capital is a London / Luxembourg Technology Venture Capital fund that invests globally in Games, IP, Spatial Computing & Metaverse Technologies. Hiro Capital invests at Seed through Series B stages and backs experienced entrepreneurial teams, building innovative technologies and content with a strongly differentiated proposition and with the scaling opportunity to become very large. The Hiro Capital team are Games and Technology investors who are also Games and Technology entrepreneurs. Hiro Capital’s core belief is that Videogames, Spatial Computing Technologies, Creator Platforms, and Digital Sports will be a central pillar of Entertainment, Economic, and Social Life in the mid-21st century. Hiro invests in the innovators who are building that future. https://hiro.capital/

SOURCE Noodle Cat Games

Connecticut-based eCommerce auto parts retailer to capitalize on consistent growth, expand to serve new geographic regions

MILFORD, Conn., Oct. 20, 2023 — Today, Connecticut-based online auto parts retailer FCP Euro announced the successful completion of its Series A financing round totaling $25 million. The minority investment will be used for expanding the company’s footprint across new geographies, bolstering its commitment to delivering unparalleled quality European car parts to a broader audience.

The Series A funding was led by a prominent private investor. The capital infusion underscores confidence in FCP Euro’s vision and leadership as the world’s most trusted resource for European vehicle ownership, maintenance, and repair.

Within the growing automotive aftermarket, projected to reach $477 billion by 2024, FCP Euro has achieved a 30% CAGR over the past decade expected to surpass $200 million in sales for 2023. In addition, they have earned a spot on the prestigious Inc. 5000 fastest-growing privately held companies list 11 times. The company attributes their success with over 1.2 million customers to a curated product offering across 10 European car lines, combined with a heavy focus on digital community through its 290,000 YouTube subscribers and 63 million views since inception. FCP Euro will continue to focus on expanding their product offering and physical footprint to enhance brand awareness and speed of delivery.

“This funding not only propels us into our next phase of growth but stands as a testament to the hard work and dedication of our workforce, which is now over 240 strong. We are enthusiastic about our new partnership and eagerly anticipate the collaborative endeavors ahead” said Scott Drozd, CEO of FCP Euro. Nick Bauer, FCP Euro’s President, added “Scott and I are excited to continue leading what we started over 20 years ago. Our commitment to putting the customer and employee first will always remain, and this expansion is one more example of how we will drive value for our customers.”

About FCP Euro

Located in Milford, CT, FCP Euro is an online retailer of Genuine, OE, and OEM European auto parts specializing in BMW, Volvo, Audi, VW, Mercedes, and Porsche. Since 1986, FCP Euro has become widely recognized by enthusiasts in the community as their preferred source for parts. With a Lifetime Replacement Guarantee, Hassle-Free Returns, and Free Shipping, FCP Euro has continuously challenged and advanced the standards of quality, service, and technology in the automotive aftermarket. Visit www.fcpeuro.com or @fcpeuro on social media for more information.

SOURCE FCP Euro

The investment will be used to continue to democratize Generative AI in the United States and globally

MADRID, Oct. 20, 2023 — Luzia, the premier AI assistant designed to simplify tasks, boost productivity and provide inspiration to users, today announced the closing of $10M in Series A financing led by Khosla Ventures. The latest investment, received six months after the launch of Luzia, reflects the growing confidence of Silicon Valley and international investors in the company’s vision and potential. The previous investment rounds garnered a total of $3 million in funding from notable investors such as Mike Santos of Technisys, Sean Ryan of Sean Investments LTD, and Grupo Proeduca.

Luzia’s mission is to be the most reliable and intelligent Personal Assistant that aids users with their everyday tasks and inquiries. The free platform serves as a trusted AI ally, available through WhatsApp and Telegram contacts, to almost 17 million users. Luzia has processed over 900 million messages leveraging APIs from various companies, including OpenAI, Llama and Kandinsky, among others. Responses provide answers, transcribe audio, translate multiple languages and generate real-time images, all while prioritizing privacy and security. As the exclusive contact for harnessing AI’s true power, Luzia understands and responds to simple voice or text commands.

“This investment is a significant step for Luzia in fulfilling its mission as a company by bringing the power of artificial intelligence to more people and bridging the technological divide in the world. We’re excited to bring the best and most user-friendly global personal assistant to millions of people around the world and look forward to revolutionizing how they interact with technology, simplifying their tasks, boosting productivity and inspiring them in ways they’ve never imagined,” said Luzia CEO, Álvaro Higes.

The funding will be used to continue recruiting top talent, expansion into new markets, advancing technological features, and optimizing the user experience. As Luzia solidifies its position as a global AI assistant leader, the company is setting its sights on the United States—a pivotal market in its growth strategy. With a robust track record of active users and the recent Series A funding, Luzia is primed for its debut in the U.S. market.

We have been investing in various applications of generative AI across a wide range of areas,” said Adina Tecklu, partner at Khosla Ventures. “In Luzia, we have a team that deeply understands their Spanish and Portuguese consumer base and a product that is resonating with those customers as evidenced by their exciting early traction. We look forward to partnering with them as they expand their global reach.”

“I take immense pride in being part of Luzia, an innovative project with the noble mission of making Artificial Intelligence more accessible to all people around the world,” said Pau Gasol, Professional Basketball Hall of Famer and Investor in Luzia. “Access to this transformative technology should be a universal right, and it is our joint mission to make this a reality. I am convinced that this capital injection will not only boost Luzia’s growth, but also elevate user experiences and extend the reach of AI to countless individuals, making a meaningful and tangible impact on their everyday existence.”

To date, Luzia has raised a total of $13 million and has grown to nearly 17 million active users worldwide. Additional investors include Pao Gasol, A* Capital, Abstract Ventures, FJ Labs, Globo Ventures and others. 

About Luzia

Founded in 2023, Luzia is the premier AI assistant designed to simplify tasks, boost productivity, and provide inspiration to users worldwide. Led by visionary trio Álvaro Martínez Higes, Javier Andrés, and Carlos Pérez, Luzia serves as an inclusive AI companion, bridging information gaps in the digital age. To date, Luzia has raised $13 million in funding and has grown to nearly 17 million active users worldwide. To learn more, please visit www.luzia.com/en/ and via WhatsApp.

SOURCE Luzia