STOCKHOLM, Nov. 28, 2023 — Software company Idun has developed ProptechOS, an operating system for building data, in close collaboration with key players in the real estate industry, notably with Vasakronan as a key client and investor. Idun is now entering its next phase, and today announced the closure of a round of funding led by Software-as-a-Service investor Partinc.
ProptechOS has been on the market since 2019 and boasts users in Sweden, Norway, Denmark, Finland, Germany, and the USA. The real estate industry is only beginning to embrace digitalization, which holds immense potential for optimizing resource usage across various domains, such as energy consumption, operations, and utilization while enhancing client experiences. Access to data and the ability to scale solutions cost-effectively are crucial in this development.
“Until now, we have collaborated with our clients to develop ProptechOS into a useful product, following the principles of other cloud platforms. Almost all our clients are rapidly transitioning from pilot to wide production. This makes it the right time to introduce new shareholders, and Partinc brings impressive expertise in scaling SaaS companies internationally,” says Per Karlberg, co-founder and CEO of Idun.
ProptechOS is a SaaS platform built on the open standard RealEstateCore, facilitating the integration of all applications within the PropTech world. This ensures property owners are future-proofed, as they only need to build a single integration with ProptechOS, rather than integrating each application with every individual system in their properties. Furthermore, the platform makes it cost-effective to add, improve, or replace PropTech solutions at scale.
“Growing ProptechOS in collaboration with the company’s founders and Vasakronan will be immensely intriguing. We see significant potential in ProptechOS’s offerings, given that the market is virtually limitless. Additionally, it is great that Partinc, through ProptechOS, can contribute to reducing environmental impact in the real estate industry, one of the world’s largest industries,” concludes Per Nordling, founder and partner at Partinc.
Contact Information:
Per Karlberg, Founder and CEO at ProptechOS (Idun Real Estate Solutions AB) Email: [email protected], Phone: +46(0)704-93 23 61
Per Nordling, Founder and Partner at Partinc Email: [email protected], Phone: +46(0)733-50 79 21
About Idun and ProptechOS:
Idun is a Swedish software company developing ProptechOS, an IoT platform that collects real-time data from building management systems, BIM, business data, and IoT devices, harmonizes it, contextualizes it, and makes it available to building owners, building operators, facility managers, and end users. The platform allows for the use of PropTech apps on buildings for optimization purposes and is configured to scale with your growth using ProptechOS’ application ecosystem. ProptechOS optimizes energy use, presence analytics, environmental certification, predictive maintenance, and other innovative use cases.
About Partinc:
Partinc is a European investment firm specializing in SaaS companies that offer software services within the B2B segment. As an active investor, Partinc works closely with its portfolio companies, primarily in the Nordic and Benelux countries. The company maintains offices in Sweden and the Netherlands. For more information, visit: www.partinccapital.com
For other media inquiries, contact:
ProptechOS Dr. Erik Wallin, Chief Ecosystem Officer Nybrogatan 8 114 34 Stockholm, Sweden
BUDAPEST, Hungary, Nov. 28, 2023 — Central and Eastern European member states play a significant part in the agricultural production and economic performance of the European Union. While the EU’s agricultural policy focuses on supporting the agriculture of the region’s the member states, food safety is becoming a more urgent issue due to climate and geopolitical changes, which encourages the founding of developments within the sector. In recent years, Hungary has seen a significant rise in capital investments in agriculture, in line with current trends. Following numerous successful investments, agro-technological companies producing for export are poised for continued growth. Hiventures, a member of the MFB Group, offers the right financing environment and opportunities for development and expansion.
UBM Holding Nyrt.: As the leading feed industry, grain, and protein crop trader in the region, the company group successfully increased its capital on the Budapest Stock Exchange by approximately 13.5 million euros last year through Hiventures’ corporate investment. This capital infusion has solidified the financial stability of the company group, enabling them to expand not only within Hungary but also into the Romanian and Slovak markets, which will further boost their export market share.
The group has established a presence in Austria, Romania, Slovakia, and Serbia, generating almost half of their sales revenue from export activities. Leveraging high-quality raw materials and collaborating with foreign partners, they produce 14,000 tons of premix annually, in high demand.
Civita Food Kft.: Likewise, the Civita group, which went public this summer with support from Hiventures, aims to enhance its exports and to develop of innovative products. The company, specializing in corn processing, flour, semolina, corn oil, and gluten-free pasta, sees significant potential in the gluten-free foods market due to efficiency advancements.
The group has established a presence in numerous countries in Central and Eastern Europe with its range of milling products and gluten-free pasta. Through innovative developments, their new milling technology allows for the complete removal of the corn germ from the corn grain, making it suitable for pressing.
Szatmári „Rege” Konzervgyár Kft.: Szatmári Konzervgyár Kft. is a key supplier in the EU’s market for fruit and vegetables, preserves and pickles that are processed without preservatives and are sourced from the Eastern Hungarian region, which is particularly important for Hungarian agriculture. More than 70 percent of the factory’s products are sold outside the borders, with pickled cucumbers being a standout product. The raw materials for production are sourced from domestic suppliers, covering approximately 3,000 hectares, with particular emphasis on controlled organic farming required for organic products.
EKO Konzervipari Kft.: The company, also operating in the eastern part of Hungary, has been producing canned products for more than 50 years. Utilizing modern sealing (vacuum) and heat treatment (sterilization, pasteurization) technologies, they produce preservative-free foods, including green peas, sweet corn, canned beans, and various pickled products. Thanks to their reliable and well-established logistics system covering both eastern and western operations, the company achieves an export rate of around 70%. Following a successful financial restructuring supported by Hiventures, EKO has recently entered joint management and ownership with Szatmári Konzervgyár, providing an additional guarantee for quality production and the continued development of both companies.
Due to Hiventures’ reliable and predictable operations, coupled with their educational initiatives, capital investment is gaining popularity not only in the agriculture sector but also among medium and large companies across various industries. Aligned with efforts for economic development, the capital fund manager has contributed to the development of nearly 40 Hungarian companies by disbursing around 100 million euros over the past three years.
BUDAPEST, Ungarn, 28. November 2023 — Die mittel- und osteuropäischen Mitgliedstaaten spielen eine wichtige Rolle für die landwirtschaftliche Produktion und die Wirtschaftsleistung der Europäischen Union. Während sich die Agrarpolitik der EU auf die Unterstützung der Landwirtschaft in den Mitgliedstaaten der Region konzentriert, wird die Lebensmittelsicherheit aufgrund klimatischer und geopolitischer Veränderungen zu einem immer dringlicheren Thema, was die Gründung von Entwicklungen in diesem Sektor begünstigt. In den letzten Jahren ist in Ungarn ein deutlicher Anstieg an Kapitalinvestitionen in der Landwirtschaft zu verzeichnen, was dem aktuellen Trend entspricht. Nach zahlreichen erfolgreichen Investitionen sind die für den Export produzierenden agrotechnischen Unternehmen auf ein weiteres Wachstum eingestellt. Hiventures, ein Mitglied der MFB Group, bietet das richtige Finanzierungsumfeld und Möglichkeiten für Entwicklung und Expansion.
UBM Holding Nyrt.: Als führender Händler von Futtermitteln, Getreide und Eiweißpflanzen in der Region hat die Unternehmensgruppe ihr Kapital an der Budapest Stock Exchange im vergangenen Jahr durch die Unternehmensinvestition von Hiventures erfolgreich um rund 13,5 Millionen Euro erhöht. Diese Kapitalzufuhr hat die finanzielle Stabilität der Unternehmensgruppe gefestigt und ermöglicht es ihr, nicht nur in Ungarn, sondern auch auf dem rumänischen und slowakischen Markt zu expandieren, was ihren Exportmarktanteil weiter erhöhen wird.
Die Gruppe ist in Österreich, Rumänien, der Slowakei und Serbien präsent und erwirtschaftet fast die Hälfte ihres Umsatzes im Exportgeschäft. Durch die Nutzung hochwertiger Rohstoffe und die Zusammenarbeit mit ausländischen Partnern werden jährlich 14.000 Tonnen Vormischungen hergestellt, die sehr gefragt sind.
Civita Food Kft.: Auch die Civita Group, die in diesem Sommer mit Unterstützung von Hiventures an die Börse ging, will ihre Exporte steigern und innovative Produkte entwickeln. Das Unternehmen, das sich auf die Verarbeitung von Mais, Mehlgrieß, Maisöl und glutenfreie Nudeln spezialisiert hat, sieht aufgrund von Effizienzsteigerungen ein erhebliches Potenzial auf dem Markt für glutenfreie Lebensmittel.
Die Gruppe ist mit ihrem Angebot an Mühlenprodukten und glutenfreien Teigwaren in zahlreichen Ländern Mittel- und Osteuropas vertreten. Durch innovative Entwicklungen ermöglicht ihre neue Mühlentechnologie die vollständige Entfernung des Maiskeims aus dem Maiskorn, so dass es sich zum Pressen eignet.
Szatmári: „Rege” Konzervgyár Kft.: Szatmári Konzervgyár Kft. ist ein wichtiger Lieferant auf dem EU-Markt für Obst und Gemüse, Konserven und Eingelegtes, das ohne Konservierungsstoffe verarbeitet wird und aus der für die ungarische Landwirtschaft besonders wichtigen ostungarischen Region stammt. Mehr als 70 Prozent der Produkte der Fabrik werden außerhalb der Grenzen verkauft, wobei die eingelegten Gurken ein herausragendes Produkt sind. Die Rohstoffe für die Produktion werden von einheimischen Lieferanten auf einer Fläche von rund 3.000 Hektar bezogen, wobei der Schwerpunkt auf dem für Bio-Produkte erforderlichen kontrolliert biologischen Anbau liegt.
EKO Konzervipari Kft.: Das Unternehmen, das auch im östlichen Teil Ungarns tätig ist, stellt seit mehr als 50 Jahren Konserven her. Unter Einsatz moderner Versiegelungs- (Vakuum) und Wärmebehandlungstechnologien (Sterilisation, Pasteurisierung) werden konservierungsmittelfreie Lebensmittel hergestellt, darunter grüne Erbsen, Mais, Bohnenkonserven und verschiedene eingelegte Produkte. Dank seines zuverlässigen und gut ausgebauten Logistiksystems, das sowohl die Ost- als auch die Westmärkte abdeckt, erreicht das Unternehmen eine Exportquote von rund 70 %. Nach einer erfolgreichen finanziellen Umstrukturierung, die von Hiventures unterstützt wurde, ist EKO kürzlich in eine gemeinsame Verwaltung und Eigentümerschaft mit Szatmári Konzervgyár eingetreten, was eine zusätzliche Garantie für die Qualitätsproduktion und die weitere Entwicklung beider Unternehmen darstellt.
Aufgrund der zuverlässigen und berechenbaren Arbeitsweise von Hiventures in Verbindung mit ihren Bildungsinitiativen gewinnen Kapitalinvestitionen nicht nur im Agrarsektor, sondern auch bei mittleren und großen Unternehmen in verschiedenen Branchen an Beliebtheit. Im Einklang mit den Bemühungen um die wirtschaftliche Entwicklung hat der Kapitalfondsmanager in den letzten drei Jahren mit rund 100 Millionen Euro zur Entwicklung von fast 40 ungarischen Unternehmen beigetragen.
Funding to Fuel Continued Rapid Growth Among Gen Z Fans
NEW YORK, Nov. 27, 2023 — Hang Media, Inc., whose award-winning HANG platform (letshang.live) has drawn more than 22 million young viewers to interactively experience sports events alongside current players, all-time greats, and celebrities, has completed a $9.2 million Series A funding round. HANG will use the proceeds to accelerate product development and audience growth, expanding its leadership position in the rapidly growing direct-to-consumer sports media category.
The financing was led by The Operating Group, a holding company run by media, technology and finance executive Ken Cron. Joining the round were Clara Vista Investment Partners, whose partners include former NBCU Television Chairman Jeff Gaspin, former Credit Suisse TMT chairman Mark Simonian, and Bob Gold, former CEO of Ridgewood Capital; Ratner Ventures, an investment and consulting firm lead by Hank Ratner, the former CEO of the Madison Square Garden Company; Brown Angel Group; and Anthony Baranello, a private investor. Emergetic, LLC partners Mark Lieberman and Ron Frankel advised Hang Media on the transaction.
HANG, co-founded by CEO Jon Klein – the multiple Emmy- and Peabody-winning former President of CNN – and CTO Lorne Greene – CEO of Viva Creative, a leading live experience producer – enables fans to mingle with their heroes on livestreams across YouTube, Facebook, and Twitch. Hundreds of current athletes, including Deebo Samuel, Micah Parsons, Odell Beckham, Jr., DeMar DeRozan and Zach LaVine, have joined legends including Deion Sanders, Kareem Abdul-Jabbar, Bill Walton, and Clint Dempsey, and entertainers including Emmy winners Anthony Anderson and JB Smoove – in virtual parties offering up-close access to the stars. Each HANG averages 800,000 viewers, sixty percent of them in the 18-44 demographic that advertisers covet. HANG‘s fans engage with the platform an astounding average of one hour and twenty minutes. HANG‘s unique combination of broad reach and deep Gen Z engagement has drawn leading sponsors, including Toyota, Wells Fargo, MolsonCoors, Coca-Cola, Dave & Busters, Academy Sports + Outdoors, Smokey Bones, and Pernod-Ricard.
“Gen Z fans want sports viewing to be a communal experience, and they crave authentic, up-close access to their favorite personalities,” said Jon Klein, HANG‘s co-founder and CEO. “That‘s exactly what HANG delivers – a livestreamed second screen experience, where the audience is as much a star as the athletes – which is why we‘ve become a Gen Z magnet. We make fans‘ dreams come true, while delivering results that major brands cannot achieve anywhere else.”
“We are excited to partner with the amazing HANG team,” said Ken Cron, CEO of The Operating Group. “HANG has a deep understanding of the next generation fan, and the power of live sports to deliver true engagement in a fragmenting media landscape. By building community and interactivity into traditional sports viewing, HANG is transforming these everyday events into unique experiences that directly connect fans with their celebrity heroes to create lasting memories.”
About HANG
Hang Media, winner of the 2023 Cynopsis Sports Award for best production innovation, is the leading fan-celebrity community, driving 800,000 views of each virtual watch party around major sports events including pro and college football, basketball, baseball, soccer, and cricket. Since HANG‘s founding in September 2021, more than 22 million young sports fans have come face-to-face with their idols ‐ star athletes, performers, and influencers – while everyone watches the game on their own devices. It‘s a dream come true for sports lovers, who get to have fun and frank conversations with their heroes about life on and off the field, play trivia contests, and sample products delivered by top sponsors including Toyota, Wells Fargo, MolsonCoors, Academy Sports + Outdoors, and others. https://letshang.live/
About The Operating Group
The Operating Group is a holding company that partners with outstanding entrepreneurs to build the next generation of technology-driven businesses. Led by a team of accomplished operating and financial executives, The Operating Group takes an active approach in working with its partner companies. In addition to providing capital to fund growth, The Operating Group provides strategic, operational and financial support, helping founders navigate the challenges of a rapidly changing market and optimize business models to achieve success.
MEDIA CONTACT: LeslieAnne Wade Wade Media Management [email protected] 917-751-7693
This release was issued through Send2Press®, a unit of Neotrope®. For more information, visit Send2Press Newswire at https://www.Send2Press.com
Average weekly trading volume of approximately 549,425 shares
Fund’s adviser has more than 40 years of small- and micro-cap investment experience
CLOSING PRICES AS OF 10/31/23
NAV
8.93
MKT
7.81
AVERAGE ANNUAL TOTAL RETURN AS OF 10/31/23
NAV (%)
MKT (%)
One-Month*
-6.30
-5.68
Year to Date*
-2.91
-4.43
One-Year
-0.17
-3.55
Three-Year
7.59
9.29
Five-Year
7.08
6.86
10-Year
7.04
6.96
*Not Annualized
Important Performance and Expense Information
All performance information reflects past performance, is presented on a total return basis, net of the Fund’s investment advisory fee, and reflects the reinvestment of distributions. Past performance is no guarantee of future results Current performance may be higher or lower than performance quoted. Returns as of the recent month-end may be obtained at www.royceinvest.com. The market price of the Fund’s shares will fluctuate, so that shares may be worth more or less than their original cost when sold.
The Fund normally invests in micro-cap companies, which may involve considerably more risk than investing in larger-cap companies. The Fund’s broadly diversified portfolio does not ensure a profit or guarantee against loss.
PORTFOLIO DIAGNOSTICS
Average Market Cap1
$575.8M
Weighted Average P/E2
14.9x
Weighted Average P/B2
1.7x
Net Assets
$438.8M
1Geometric Average: This weighted calculation uses each portfolio holding’s market cap in a way designed to not skew the effect of very large or small holdings; instead, it aims to better identify the portfolio’s center, which Royce believes offers a more accurate measure of average market cap than a simple mean or median.
2Harmonic Average: This weighted calculation evaluates a portfolio as if it were a single stock and measures it overall. It compares the total market value of the portfolio to the portfolio’s share in the earnings of its underlying stocks.
The Price-Earnings, or P/E, ratio is calculated by dividing a company’s share price by its trailing 12-month earnings-per-share (EPS). The Fund’s P/E ratio calculation excludes companies with zero or negative earnings (26% of portfolio holdings as of 10/31/23). The Price-to-Book, or P/B, Ratio is calculated by dividing a company’s share price by its book value per share.
The Price-to-Book, or P/B, Ratio is calculated by dividing a company’s share price by its book value per share.
Portfolio Composition
TOP 10 POSITIONS
% OF NET ASSETS (SUBJECT TO CHANGE)
Transcat
2.7
EVI Industries
2.1
PAR Technology
1.9
Mesa Laboratories
1.8
Sprott
1.7
Camtek
1.6
B. Riley Financial
1.5
Major Drilling Group International
1.5
Silvercrest Asset Management Group Cl. A
1.5
Richardson Electronics
1.4
TOP FIVE SECTORS
% OF NET ASSETS (SUBJECT TO CHANGE)
Information Technology
19.9
Industrials
19.3
Financials
15.7
Health Care
10.3
Cash and Cash Equivalents, Net of Outstanding Line of Credit
7.9
Recent Developments Royce Micro-Cap Trust, Inc. is a closed-end diversified investment company whose shares of Common Stock (RMT) are listed and traded on the New York Stock Exchange. The Fund’s investment goal is long-term capital growth, which it seeks by investing primarily in equity securities of companies that, at the time of investment, have market capitalization of $1 billion or less.
Daily net asset values (NAVs) for Royce Micro-Cap Trust, Inc. are now available on our website and online through most ticker symbol lookup services and on broker terminals under the symbol XOTCX. For more information, please call The Royce Funds at (800) 221-4268 or visit our website at www.royceinvest.com
An investor in Royce Micro-Cap Trust should consider the Fund’s investment goals, risks, fees, and expenses carefully before investing.
Important Disclosure Information Closed-End Funds are registered investment companies whose shares of common stock may trade at a discount to their net asset value. Shares of each Fund’s common stock are also subject to the market risks of investing in the underlying portfolio securities held by the Fund. Royce Fund Services, LLC. (“RFS”) is a member of FINRA and has filed this material with FINRA on behalf of each Fund. RFS does not serve as a distributor or as an underwriter to the closed-end funds.
Strengthening the Commitment to Launching the VTuber Platform
SINGAPORE, Nov. 27, 2023 — AnotherBall (CEO: Shunsuke Oyu, also known as Captain), an entertainment company dedicated to “creating mutual understandings beyond boundaries,” announced today that it has successfully secured USD$12.7 million in funding during its seed round. This brings the company’s total funding to approximately USD$14.8 million, further fueling its expansion.
IZUMO Seed Round Completion
This funding round was led by ANRI and Hashed, with additionalparticipation from Global Brain, Globis Capital Partners, Sfermion, HashKey Capital, Everyrealm, Ethereal Ventures, Emoote, as well as several individual investors including Crunchyroll founder Kun Gao. Their collective interest in the rapidly evolving field of virtual entertainment aligns with the vision of IZUMO.
IZUMO has been actively engaging in pioneering technological projects such as “Ailis” and “SAI by IZUMO.” Drawing from the insights gained through these endeavors, IZUMO is currently developing a platform that will empower creators worldwide to connect with fans and monetize their content. The beta version of this platform is scheduled for release in the first quarter of 2024 (January-March), with a full-scale public launch expected later in the year.
Statements from CEO, Captain:
The world is gradually becoming more avatar-oriented, and this is part of a larger liberation of human potential. This philosophy has remained unchanged since our inception and is at the core of our vision for the future. Furthermore, observing the games and content that children are passionate about today, it becomes evident that a significant portion of humanity will inevitably and irreversibly engage in economic activities through avatars.
At IZUMO, we believe that VTubers are the ones carrying this future. To support this exciting phenomenon, our company has undertaken numerous challenges in the realm of characters and surrounding technological areas through endeavors like Ailis and SAI. In 2024, we plan to launch a service that incorporates the lessons we have learned, and we hope you will eagerly anticipate it.
We are committed to transforming the trust and expectations the community has placed in us through this seed round into solid outputs and strive to deliver the ultimate otaku lifestyle to people all around the world.
About AnotherBall
AnotherBall is a venture company established in May 2022, helmed by Shunsuke Oyu, also known as Captain. The management team consists of serial entrepreneurs who previously launched “mamari,” an information hub website for families, and the multinational VTuber agency known as “PRISM Project.” The company’s primary focus is on IZUMO, a groundbreaking VTuber project with the mission to “Live as you want to be.”
AnotherBall is actively recruiting new talent. If you are intrigued by the opportunities in the emerging virtual entertainment industry, please visit our careers page linked below.
At the Global Investment Summit, the company also announces that SBI Investment, Japan’s premier VC fund, is leading OQC’s $100m round
LONDON, Nov. 27, 2023 — OQC, the global leaders in quantum compute-as-a-service (QCaaS), today announced the public availability of OQC Toshiko, the world’s first enterprise ready quantum computing platform, and that SBI Investment, Japan’s premier VC fund, is leading OQC’s $100m round.
OQC Toshiko is a powerful next generation 32-qubit platform, deployed to commercial data-centres, enabling businesses to tap into ground-breaking technology from anywhere in the world, seamlessly and securely.
OQC Toshiko – The world’s first enterprise ready quantum platform
OQC’s $100m round will pave the way for industry-leading R&D furthering its ability to bring enterprise ready quantum to businesses globally.
OQC Toshiko – world’s first enterprise ready quantum computing platform
Quantum computing is a world changing $1.3 trillion opportunity with the power to not only reshape and transform entire industries but ignite and catalyse entirely new ones. Today, quantum computers are predominantly located in labs, making secure access the biggest barrier to wider business adoption of this groundbreaking technology.
With OQC Toshiko, an upgradeable 32-qubit platform, OQC has brought quantum computing to commercial data centres, thereby enabling secure and easy access for customers. This world-first platform is especially important for customers handling sensitive data, in sectors such as financial services, pharmaceuticals, energy, defence and government.
Bringing quantum into data centres makes it possible to offer hybrid compute, integrated quantum and HPC, to the market. OQC has achieved this by adopting an advanced networking infrastructure, Digital Fabric Interconnect, to enable secure, hybrid compute for customers.
To bring quantum out of the lab and into the enterprise, OQC is collaborating with leading global companies including Equinix, NVIDIA, AWS and McKinsey. OQC Toshiko is available today in private preview with expanding availability across public cloud and data centre fabric in the coming months.
OQC believes in a brighter future for all enabled by quantum and is passionate about championing diversity in tech. OQC Toshiko is named after the first female Japanese physicist, Toshiko Yuasa.
SBI Investment, Japan’s premier venture capital fund, leads $100m round
At the Global Investment Summit today, OQC announced that SBI Investment, Japan’s premier venture capital fund, is leading OQC’s $100m Series B raise. New investors in the round have been confirmed in addition to existing investors, Oxford Science Enterprises (OSE), University of Tokyo Edge Capital (UTEC), Lansdowne Partners, and OTIF, acted by manager Oxford Investment Consultants (OIC).
The ongoing round is the UK’s largest ever Series B in quantum computing enabling industry-leading R&D that paves the way to quantum advantage and furthers OQC’s ability to bring next generation platforms of hundreds of qubits to businesses globally. OQC’s announcements at the Global Investment Summit today, cement OQC and the UK as a global leader in quantum technology.
Commenting on the news, Ilana Wisby, Chief Executive Officer at OQC, said: “To solve the world’s most pressing challenges – from climate change to accelerated drug discovery – we need to put quantum computers in the hands of humanity and at the fingertips of our most brilliant minds. We’re proud to be pioneering enterprise ready quantum with our customers, partners and investors.”
Yoshitaka Kitao, Representative Director, Chairman, President & CEO of SBI Holdings, Inc., a wholly owning parent company of SBI Investment Co., Ltd., said: “Quantum computing is a game changer for financial services and many other sectors, unlocking unprecedented power, speed and accuracy that will redefine the industrial landscape. As Japan’s premier venture capital firm, SBI Investment is proud to lead a $100m Series B round of OQC, a global leader in quantum computing.”
Eugene Bergen President, EMEA at Equinix, said “As the world’s digital infrastructure company, Equinix continues to partner with the very best to accelerate innovation by facilitating secure, high-bandwidth access to cutting-edge technology such as quantum computing for thousands of organisations worldwide. The inclusion of OQC’s quantum computer into our global interconnection ecosystem on Platform Equinix® reinforces our dedication to fostering innovation and continues to push the boundaries of what is possible. We are thrilled by the great partnership with OQC that enables us to stay ahead in innovation to help organisations across the globe address some of the world’s most pressing challenges.”
“Addressing the grand challenges of tomorrow requires the seamless integration of quantum with the GPU-accelerated supercomputing of today,” said Tim Costa, director of HPC and quantum at NVIDIA. “By combining OQC Toshiko with the NVIDIA GH200 Grace Hopper Superchip through NVIDIA CUDA Quantum, a platform for integrated quantum-classical computing, OQC can better empower businesses and researchers to make breakthroughs across industries and in critical scientific domains.”
Mike Sewart, Chief Technology & Operating Officer, QinetiQ said: “QinetiQ is delighted to welcome the latest innovation from Oxford Quantum Circuits (OQC). QinetiQ regularly conducts experimental studies on a range of problems including optimisation, chemistry and machine learning and we’ve seen great results from OQC’s technology to date. QinetiQ’s focus is very much on identifying the areas where quantum computing can add real value for our government and defence customers. This involves mapping complex customer requirements to currently available hardware and algorithms, as well as considering the practical elements of future solution design, including the validation and assurance of quantum applications in real-world operational scenarios. QinetiQ’s quantum team looks forward to working closely with OQC and their technology in order to drive future capability developments in this emerging but important field for defence.”
Science and Technology Secretary Michelle Donelan, UK Government said: “Oxford Quantum Circuits is leading the way in seizing the potential of quantum computing, which can help discover new drugs, boost cybersecurity and manage financial systems to improve our lives and drive growth. “Today’s news will support businesses to scale up by tapping into this technology and is another vote of confidence in the resounding strength of the UK’s quantum capability. “Our National Quantum Strategy will help us go even further, backed by £2.5 billion over the next 10 years to help unlock untold advances in healthcare, green tech and beyond.”
Minister for Investment Lord Johnson, UK Government said: “We are a global leader in quantum computing, and the levels of innovation from companies like Oxford Quantum Circuits is exactly why we are fast on the way to becoming a Science & Tech Superpower. The UK has a rapidly growing quantum sector which is no.1 in Europe for the number of start-ups and in attracting private investment – around $850m in the past 10 years. In March we published a National Quantum Strategy which more than doubles our public investment in quantum to £2.5 billion over the next 10 years, and already we are investing £100 million into new quantum research hubs to ensure the UK stays at the forefront of this vitally important technology.”
Prior to Series B, OQC raised £41 million including the largest Series A in quantum in the UK at that time. In 2023, OQC’s team grew to over 100, attracting talent from across the globe. The team has built and deployed OQC Toshiko platforms to colocation data centres expanding its operations in the UK, Japan and Spain.
Companies wanting to test this groundbreaking technology can join the private preview www.oxfordquantumcircuits.com/technology/toshiko, and mark a key moment of quantum computing entering the mainstream.
About OQC
OQC is the globally leading enterprise-ready quantum compute company. We bring quantum to our customers’ fingertips and enable them to make breakthrough discoveries. OQC Toshiko, a powerful and secure 32-qubit quantum computing platform, is now in private preview and coming soon on public cloud and data centre fabric. For more information: For more information: www.oxfordquantumcircuits.com
About SBI Investment Co., Ltd.
SBI Investment Co., Ltd. is one of Japan’s leading venture capital firms, focusing on the creation and cultivation of key industries for the 21st century. SBI’s investment portfolio has expanded to include core technologies such as Fintech, AI, Block chain, 5G, IoT, big data and now Quantum Computing, Metaverse and Web 3.0.
KEMBLE, England and HOLLISTER, Calif., Nov. 27, 2023 — ZeroAvia today announced that it has completed its Series C funding round at a total of $116m.
The UK Infrastructure Bank joins the round as a cornerstone-level investor alongside co-leads Airbus, Barclays Sustainable Impact Capital and NEOM Investment Fund (NIF) as announced in September, with the Series C round set to accelerate the company’s journey to certification of its first engines and advance R&D that will scale the clean propulsion technology for larger aircraft.
ZeroAvia is developing hydrogen-electric aircraft engines to deliver truly clean commercial aviation.
The financing supports the UK’s status as a market leader in research and development in both aviation and hydrogen and will support ZeroAvia’s ambitious growth plans in the UK.
Aviation is one of the fastest growing sectors, and one of the most challenging to decarbonise, contributing the equivalent of more than 38 million tonnes of CO2 from international and domestic journeys starting and ending in the UK. Around a quarter of UK carbon emissions are predicted to come from aviation in 2050. This funding raise will help support the Government’s target to decarbonise aviation by 2050 by developing new clean propulsion technologies that can be flying between UK airports this decade.
A thriving sustainable hydrogen ecosystem will be crucial for net zero and is an area in which the UK Infrastructure Bank is keen to act as a market leader. The success of hydrogen in aviation can act as a catalyst for the development and rollout of wider hydrogen infrastructure, helping to create a green hydrogen market in the UK and beyond. It also strongly aligns with the Bank’s mandate to support nascent technology and crowd in private investment against its twin objectives of driving regional growth and tackling climate change.
Val Miftakhov, Founder and CEO, ZeroAvia said: “ZeroAvia has grown rapidly in the UK as we have worked to deliver two major historic milestones in aerospace engineering as we look to preserve the benefits of flight through clean propulsion. This backing by such a preeminent investor as the UK Infrastructure Bank will help us deliver the first commercial zero-emission flights, and help the UK realise substantial export potential. We are looking forward to working with UKIB over the next few years.”
Ian Brown, Head of Banking & Investments at the UK Infrastructure Bank, said: “This is a great example of the Bank supporting a first of a kind technology that has real potential to have a telling impact on carbon emissions and help position the UK at the forefront of a developing green hydrogen ecosystem.
“Aviation and hydrogen are sectors that need significant private investment to get to net zero. By providing confidence to investors, our equity has helped to crowd in the private investment needed for the continued development of this cutting-edge technology and should help stimulate the development and deployment of hydrogen technology across other hard to decarbonise sectors.”
Breakthrough Energy Ventures, Horizons Ventures, Alaska Airlines, Ecosystem Integrity Fund, Summa Equity, AP Ventures and Amazon Climate Pledge Fund have also participated in the funding round.
About ZeroAvia ZeroAvia is a leader in zero-emission aviation with the mission of delivering a hydrogen-electric engine in every aircraft as the most environmentally and economically friendly solution for addressing the industry’s climate impact. The company is starting with engines to support a 300-mile range in 9–19 seat aircraft by the end of 2025, and up to 700-mile range in 40–80 seat aircraft by 2027. Founded in California and now with thriving teams also in Everett, WA and the United Kingdom, ZeroAvia has secured experimental certificates to test its engines in three separate testbed aircraft with the FAA and CAA and passed significant flight test milestones. The company has signed a number of key engineering partnerships with major aircraft OEMs and has nearly 2,000 pre-orders for engines from a number of the major global airlines, with future revenue potential over $10bn. For more, please visit ZeroAvia.com, follow @ZeroAvia on Facebook, Twitter/X,Instagram, LinkedIn, and YouTube.
About UK Infrastructure Bank The UK Infrastructure Bank was announced as part of the Government’s National Infrastructure Strategy in 2020 and launched in June 2021. The Bank’s objectives are to help tackle climate change and to support regional and local economic growth.
The Bank is operationally independent from Government and projects are assessed by the Bank and approved through an Investment Committee. www.ukib.org.
COSTA MESA, Calif., Nov. 22, 2023 — CerraCap Ventures, a Southern California-based venture capital firm, proudly announces its participation in Entropica Labs’ Series A funding round, reinforcing its dedication to making quantum computers useful.
Entropica Labs, drawing on years of hands-on research across various quantum computing modalities and platforms, is developing software tools to empower users to design fault-tolerant versions of quantum circuits and algorithms.
As part of the investment Vikas Datt, Partner CerraCap Ventures joins the Entropica Labs board as an observer. “We are excited to join Entropica Labs on their quantum computing journey. Their innovative approach and steadfast dedication to tackling pivotal challenges harmonize perfectly with CerraCap’s investment principles. Entropica Labs stands at the cusp of molding the quantum computing future, and we eagerly anticipate working with them in this groundbreaking endeavor”, said Vikas Datt.
Entropica Labs has demonstrated exceptional prowess in the field by building strong partnerships with hardware companies and delivering value with a nimble and dedicated Team. The successful Series A funding round further validates Entropica Labs’ position as a key player in the quantum technology landscape.
Dr. Tommaso Demarie, CEO of Entropica Labs, expressed confidence in the partnership, stating, “CerraCap’s investment is a significant endorsement of our vision and capabilities. Their Sales and Scale model, coupled with a commitment to supporting portfolio companies, will be invaluable to us in the US market.”
CerraCap Ventures, known for its strategic investments and operational support to portfolio companies, sees immense potential in Entropica Labs. The firm’s approach aligns with the growing demand for sophisticated software solutions in the quantum computing space.
“As quantum technology continues to evolve, CerraCap Ventures recognizes the critical role that companies like Entropica Labs play in providing practical solutions to the challenges in the quantum computing landscape. We believe in empowering the next generation of quantum developers and engineers,” remarked Saurabh Ranjan.
The investment from CerraCap Ventures signifies a collaborative effort to drive advancements in quantum computing. As quantum technology becomes increasingly accessible, CerraCap Ventures is poised to contribute to the transformative journey that lies ahead.
About CerraCap Ventures: CerraCap Ventures is an Orange County, California-based early-stage venture capital firm specializing in cyber security, advanced analytics, and health-tech investments. With a focus on B2B enterprise companies, CerraCap Ventures empowers high-growth innovative companies through its unique “Sales & Scale” approach, leveraging partnerships with Fortune 500 companies to drive growth and success, visit www.cerracap.com.
About Entropica Labs: Founded in Singapore by Tommaso Demarie and Ewan Munro in 2018, Entropica’s thesis is that commercial, practical applications of quantum computers require fault-tolerant quantum error correction, i.e., the ability to actively remove errors from quantum computations. Entropica is a quantum computing software company driven by a mission to build software development tools to accelerate the arrival, and adoption, of useful quantum computers. To learn more about Entropica, visit www.entropicalabs.com.
