Company accelerates development of its AI-powered robotically-assisted imaging solution for cardiovascular interventions and appoints seasoned medtech executive as General Manager 

LOS GATOS, Calif., Dec. 12, 2023 — Laza Medical, Inc., the latest Shifamed portfolio company, announced today that it has closed $36M in Series A financing. Laza Medical is developing an imaging solution for cardiac interventions enabled by artificial intelligence (AI) software and state-of-the-art robotics. Led by The Capital Partnership (TCP) with financial participation from GE HealthCare, PA MedTech VC fund, Unorthodox Ventures, and Dara Holdings, funds will be used to accelerate product development and further expand the team. Additionally, the company announced the appointment of seasoned medtech executive, Pablo Garcia, as General Manager.

“The closing of this significant financing round validates the large, unmet need Laza’s solution will address, and we are grateful for the strong support of our investors,” stated Amr Salahieh, Founder of Shifamed and Chairman of Laza Medical. “I am delighted to have Pablo join and lead Laza at this important time. His wealth of knowledge and expertise in both digital products and robotics will be critical as Laza drives towards its upcoming milestones.”

Mr. Garcia joins Laza as General Manager and brings over two decades of medical device development and leadership experience. Previously, he served as the Vice President of Digital Solutions for Johnson & Johnson and was the technical co-founder of Verb Surgical, a strategic venture between Google and Johnson & Johnson to develop a surgical robotics platform.  In 2020, this venture was acquired by Johnson & Johnson to be part of their medical robotics portfolio.

“I am excited to join the Laza team and look forward to advancing this comprehensive imaging solution so that interventional operators can safely and efficiently tackle complex cases,” stated Garcia. “We have assembled a strong team with expertise in robotics, software, artificial intelligence, and medical imaging, and are committed to bringing this much needed innovation to market.”

Structural heart and electrophysiology are two large and rapidly growing segments of the interventional cardiology market. Ultrasound imaging is necessary to guide these interventional cases, yet lack of resources makes it also a leading factor limiting growth. Laza aims to optimize procedural workflows and elevate the standard of imaging for these procedures. The company’s solution is designed to enable top-quality imaging and advanced procedure navigation for a broad population of clinicians through a simple user interface.

“Obtaining high quality images of the heart is critical to improving diagnostic confidence and guiding cardiac interventions,” said Dagfinn Saetre, General Manager, Cardiovascular Ultrasound, GE HealthCare. “We appreciate the opportunity to participate in this funding round for Laza Medical, who is working to pioneer innovative AI, robotics and ultrasound technology to help overcome some of the most pressing cardiac imaging challenges facing clinicians today.”

About Laza Medical, Inc.
Laza Medical is a privately held portfolio company of Shifamed, LLC., a highly specialized medical innovation hub founded by serial entrepreneur, Amr Salahieh. The company is focused on developing a high-quality AI-powered robotic imaging solution for cardiovascular interventions. For more information, visit www.lazamedical.com.

MEDIA CONTACT:
Charlene Herndon
SPRIG Consulting LLC
[email protected]

SOURCE Laza Medical, Inc.

The round led by Riot Ventures culminates a year of rapid development as the company readies its first two spacecraft for launch in 2024

CENTENNIAL, Colo., Dec. 12, 2023 — True Anomaly, Inc., the technology company developing advanced hardware and software systems to ensure the sustainable security of space, today announced it has closed a $100M Series B equity raise. The round was led by Riot Ventures with participation from Eclipse, ACME Capital, Menlo Ventures, Narya, 645 Ventures, Rocketship.vc, Champion Hill Ventures, and FiveNine Ventures. This financing enables continued investment in people, products, and services to further advance True Anomaly’s mission.

True Anomaly was founded in early 2022 by space operators and technologists who helped define the operational concepts for modern space security operations. The company builds solutions that address space domain awareness, security, and readiness challenges. This includes a differentiating combination of dynamic software applications as well as on-orbit spacecraft performing rendezvous and proximity operations (RPO) and non-Earth imaging (NEI). The company’s products and services also offer solutions for space operator training, capabilities testing, and rapid response missions.

“A responsive and agile defense industrial base is essential to provide the tools for deterrence and global security,” said Even Rogers, True Anomaly CEO and Co-Founder. “Space is the newest and most vulnerable theater of contemporary global competition, but the U.S. and its allies are ill-equipped for a conflict that begins in or extends into space. True Anomaly is solving this by building the technologies for a more secure, stable, sustainable, and transparent space environment. This Series B fundraise equips True Anomaly with the proceeds to maintain a deep focus on our mission, deliver incredible products, and continue to invest in the nation’s next strategic offset.”

In its first full year of operations, True Anomaly opened its GravityWorks spacecraft manufacturing facility in the Denver Tech Center and doubled its staff from 50 to more than 100 employees.

“We’ve had the unique privilege of working with True Anomaly since inception,” said Will Coffield, Co-Founder and General Partner at Riot Ventures. “Doubling down in this round is a reflection of the exceptional execution we’ve witnessed over the last two years. The U.S. and its allies face intense national security challenges in the space domain, and we believe True Anomaly is going to be the company that delivers the core set of capabilities to offset those threats.”

True Anomaly is also steadily expanding its Executive Leadership Team with industry expertise to help scale the business. Mark Seidel joined as Chief Financial Officer and Diana Lovati as Chief Information Security Officer in 2023.

“True Anomaly’s momentum across technology, product, and commercialization has been staggering in 2023,” said Seth Winterroth, Partner at Eclipse. “This Series B not only validates True Anomaly’s traction, but also illustrates the team’s ability to scale, execute on product delivery, and ultimately, secure their incumbency in space security.”

True Anomaly recently completed the build, assembly, and integration of its first two Jackal autonomous orbital vehicles (AOVs), which are slated to launch aboard SpaceX’s Transporter-10 mission in 2024.

For more information about True Anomaly, visit https://www.trueanomaly.space.

About True Anomaly
True Anomaly builds innovative technology at the intersection of spacecraft, software, and AI to deliver solutions for space security, sustainability, and accessibility. The company empowers the U.S. government, its allies, and partners as well as the commercial space industry to lead safe, resilient operations on orbit to secure life on Earth.

About Riot Ventures
Riot Ventures is a seed and growth stage venture capital firm dedicated to working closely with a small group of iconic companies focused on the modernization of critical industries. The firm partners with founders at the earliest stages and writes checks ranging from $1M to $100M+. For more information, visit http://riot.vc

About Eclipse
With over $4 billion in assets under management, 70-plus portfolio companies, and a team of investors with deep operating expertise in technology, manufacturing, supply chain, logistics, healthcare, defense, and consumer products, Eclipse is a leading U.S. venture capital firm. Its leadership team has the experience necessary to create and scale complex operations. Eclipse partners with exceptional companies that make physical industries more efficient, resilient, and profitable. For more information, visit www.eclipse.vc.

SOURCE True Anomaly

INDIANAPOLIS, Dec. 12, 2023 — Boomerang Ventures, a leading combination venture capital and studio firm, announced a strategic investment in Primary Record, an early-stage company developing a medical health data application. Completed in October 2023, the investment marks a milestone for Primary Record, securing $1M and a Venture Capital Investment tax credit of 30%.

Primary Record enhances the family experience of navigating healthcare through its secure mobile health app that consolidates personal health data, simplifying communication and sharing to improve care coordination while reducing costs.

“Primary Record was born from the idea that families should have the tools to own and share their health information. This investment will provide crucial support as we pursue our vision,” said Jean Ross, RN, Co-Founder, Primary Record.

Research indicates that 50%+ of the U.S. population suffers from one chronic condition, while 27%+ face multiple chronic conditions, and the prevalence of multiple chronic conditions among adults age 65+ with Medicare is 58%+. 40%+ of school-aged children live with a chronic condition. As the 21st Century Cures Act reshapes how medical data is shared, Primary Record is well-positioned to play a pivotal role in modernizing healthcare data management.

“Co-leading this deal in Primary Record alongside Render Capital presented a game-changing opportunity in personal health information management,” said Oscar Moralez, Founder & Managing Partner, Boomerang Ventures.

Primary Record’s mobile app launched on December 1, 2023, initially focused on end-users, families, and community partners. The company’s roadmap includes expanding its offerings to public and private healthcare agencies in Spring 2024.

About Boomerang Ventures

Founded in 2019, Boomerang Ventures is a venture capital firm focused on early growth-stage connected health technology companies. Leveraging a combination studio and venture fund established in 2020 and 2022, respectively, Boomerang provides the collaborative direction, deep industry expertise, and continuum of support founders need to take their innovations from ideation to market. Visit Boomerang.vc.

About Primary Record

Primary Record is a healthcare technology company on a mission to simplify medical information for families. Established in 2020, Primary Record offers a user-friendly mobile health app designed to streamline the collection, organization, and sharing of personal health data. By facilitating better communication within care teams and putting healthcare information at the fingertips of families, Primary Record aims to improve the coordination of care and reduce costs.Visit primaryrecord.com.

Media Contact:
Audra Wait
Wait & Co. (on behalf of Boomerang Ventures)
[email protected]
615-504-8812

SOURCE Boomerang Ventures

Expansion to Art Platform Used by Professional Studios To Reduce Costs and Time by Creating and Collaborating on One Digital Canvas

AUSTIN, Texas, Dec. 12, 2023 — Magma, a collaborative browser-based art creation and project management platform with more than 2 million users across 100+ countries, has closed a Seed Round of funding. The $5M raise was led by Silicon Valley-based GFR Fund, with contributions from Bandai Namco Entertainment 021 Fund, 4founders, Supernode Global, Gaingels, Anorak Ventures, Acequia Capital and leading industry angels. With the funding, innovative new features will be introduced to Magma’s all-in-one art platform that allows art teams to easily exchange ideas on one canvas, and improve output and workflows. The Round is also being used to expand the international team including key hires in operations, business development, and sales. Oli Strong has recently joined as the company’s CSO/COO and Heather Shelton was hired as the Commercial Director.

Magma is a cloud-based art collaboration platform that facilitates global creative teamwork. With Magma, teams and stakeholders can connect and collaborate from anywhere, at any time, and on any device. It is the only professional art collaboration and management tool that offers integrated version control, in-app video chat, and generative AI. As a centralized repository for project data, digital artwork, and creative ideas, Magma’s live collaborative canvas is ideal for idea development, character design, concept art, storyboarding, art reviews, onboarding and training, brainstorming, and other creative endeavors. Users enjoy complete control over the whole creative process and can leverage in-canvas tools and a management dashboard for streamlined feedback, including rapid preview, edits, storage, and easy access to all team artwork.

“Leading this Seed Round reflects our confidence in Magma as a key player in the creative and collaborative technology ecosystem,” said Teppei Tsutsui, General Partner of GFR Fund. “Magma has shown tremendous success already, with its impressive user engagement numbers, and has a leading reputation in the industry. We have been impressed with what the team has achieved to date and are excited to see them execute their vision. We are also optimistic for the way that AI might shape the creation process and expect Magma to influence how it can be carefully adopted.”

Launched by 3 founders with start-up backgrounds and supported by an international team, Magma has seen tremendous growth with 20+ million artworks created and 4+ million visits per month. Magma is trusted by industry leaders in animation studios, game development, art studios, leading creative higher education institutions, and more. Magma’s partners include Pitch Dev Studios, Virtuos, Wooga, Wacom, Seneca College, and North Carolina State University. Artists have reported remarkable benefits using Magma including:

• 25% reduction in project delivery time
• 32% less time spent in meetings
• 40% fewer revisions per cycle
• 72% increase in employee satisfaction

These benefits not only improve the quality of output and the time it takes to achieve them, but also provide dramatic cost savings.

“As artists and technologists ourselves, we put a lot of emphasis on listening to our community. We have the agility and infrastructure to build and adapt quickly to meet the needs of our users, to become the de facto cloud-based artist collaboration platform,” said Damien Kaczmarck, co-founder and CEO of Magma. “Closing this important round of funding will help us get there – not just financially, but through partnership with our targeted investors across various industries. We are fortunate to collaborate with these exceptional partners and are grateful for their support.”

Magma offers a range of pricing solutions for artists, including free offerings, collaborative professional packages, and turn-key enterprise programs. Pricing can be found here.

About Magma:
Launched in 2020, Magma is a collaborative canvas built from the ground up for artists. Created by artists for artists, Magma provides real-time creation, collaboration, communication, brainstorming, and sharing, all within a virtual canvas. The platform hosts artists in over 100 countries, with more than 2 million users contributing to the creation of over 20 million artworks. For more information, visit www.magma.com.

Resources

SOURCE Magma

Proceeds to support company in advancing its first off-the-shelf iPS-T cell therapy against GPC3+ cancers toward the clinic

Oversubscribed Series A led by EQT Life Sciences, F-Prime Capital and Eight Roads Ventures Japan, with participation from Astellas Venture Management, Fast Track Initiative (FTI), JIC Venture Growth Investments, and D3 LLC

Carl June, M.D., pioneer of CAR-T cell therapy, appointed to Scientific Advisory Board

Licensed technology from Kyoto University and University of California, San Francisco

SAN FRANCISCO and KYOTO, Japan, Dec. 12, 2023 — Shinobi Therapeutics (Shinobi), the biotechnology company developing a new class of immune evasive iPS-T cell therapies, today announced that it has closed a $51 million Series A financing. The oversubscribed round was led by EQT Life Sciences, F-Prime Capital and Eight Roads Ventures Japan, with participation from Astellas Venture Management, Fast Track Initiative (FTI), JIC Venture Growth Investments, and D3 LLC. Shinobi will use the funds to advance its ‘Katana’ iPS-T cell therapy platform and progress its first program to treat GPC3+ solid tumor cancers toward the clinic.

“We’re thrilled to launch Shinobi out of stealth with a clear mission to develop an all-in-one solution to address some of the biggest challenges facing the cell therapy space today,” said Dan Kemp, Ph.D., Chief Executive Officer of Shinobi. “Having led several cell therapy programs at other global companies, I’ve never encountered a technology platform that is capable of advancing the field as dramatically as this.”

Cell therapies have shown remarkable promise in treating blood cancers and other intractable diseases, but manufacturing costs render these therapies inaccessible to many patients around the world. Off-the-shelf cell therapies offer a more scalable manufacturing approach, but face the additional challenge of allo-rejection, as patients’ immune systems reject donor-derived and engineered cells as foreign invaders. To overcome this immune response, patients today receive immunosuppressive drugs before treatment, which can often result in unwanted side effects and serious complications. Shinobi is taking a different approach by creating therapies that work with, not against, the patient’s immune system.

Shinobi’s unique approach uses methods developed by scientific co-founders Tobias Deuse, M.D. and Shin Kaneko, M.D., Ph.D., to first edit iPSCs to become highly immune evasive before they are differentiated with the company’s proprietary Katana technology to create CD8αβ iPS-T cells. “Shinobi’s Katana platform has the potential to make CAR-T cell therapies accessible to patients on a global scale,” said Carl June, M.D., who has been appointed to Shinobi’s Scientific Advisory Board.

“Shinobi stands alone in the growing cell therapy field by engineering the most comprehensive immune evasion technology directly into its cell products,” said Robert Weisskoff, Ph.D, Partner at F-Prime Capital. “With our colleagues at Eight Roads Ventures Japan and Donald Payan M.D., we envisioned combining the decade’s worth of iPSC research pioneered by Shin Kaneko M.D., Ph.D and developed by Yasumichi Hitoshi M.D., Ph.D. and Ryosuke Gonotsubo in Kyoto, Japan, with breakthrough immune evasion technology created by Tobias Deuse, M.D. in San Francisco. Shinobi Therapeutics is the result of these merged technologies, which delivers an allogeneic platform that effectively protects cell therapies from T cells, innate immune cells, as well as antibody-mediated immune rejection.”

“The full potential of allogeneic cell therapies will likely never be realized without overcoming the challenge of allo-rejection,” said Fouad Azzam, Ph.D., Partner at EQT Life Sciences. “Shinobi’s hypoimmune technology opens the door to a broader pipeline of off-the-shelf cell therapies far beyond T cells and oncology. We’re planning to leverage this platform in important areas of regenerative medicine and autoimmune disease.”

About Shinobi Therapeutics

Shinobi Therapeutics is a biotechnology company developing a new class of off-the-shelf immune evasive iPSC-derived cell therapies. Based on the research of scientific co-founders Shin Kaneko, M.D., Ph.D., at Kyoto University and Tobias Deuse, M.D., at University of California, San Francisco, Shinobi has created a new allogeneic CD8αβ iPS-T cell platform that demonstrates comprehensive immune evasion from all arms of the immune system. For more information, please visit www.shinobitx.com.

About EQT Life Sciences

EQT Life Sciences was formed in 2022 following an integration of LSP, a leading European life sciences and healthcare venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion (USD 3.5 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals, coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients.

More info: www.eqtgroup.com

Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About F-Prime Capital

F-Prime Capital is a leading global venture capital firm investing in healthcare and technology to solve the greatest challenges in healthcare and medicine while delivering on the conviction that everyone deserves a gold standard of care.

For over 50 years and with a portfolio of nearly 300 companies and counting spread across the Americas, Europe, and Asia, our independent venture capital group combines singular and deep expertise in life science, healthcare, and technology to identify and support founders with the next big ideas in therapeutics, medtech, and healthcare IT and services. With over $4.5 billion dollars under management, our team has created or co-created over 30 companies including Denali, Beam, Innovent, and has helped build many others including Blueprint Medicines, Iora Health, PatientPing, Devoted Health and Ultragenyx. 

F-Prime is headquartered in Cambridge, MA, with offices in London, UK and San Francisco, CA. For more information, please visit www.fprimecapital.com and follow us on X and LinkedIn.

About Eight Roads Ventures

Eight Roads is a global venture capital firm backed by Fidelity, managing over $11bn of assets across offices in China, India, Japan, Europe and the US. With over 50-year history of investing in healthcare and technology, Eight Roads has partnered with more than 300 game-changing and fast-growing companies globally. At Eight Roads Ventures Japan, our strategy in biotech sector is to identify world-class science and to build a global company that will revolutionize medicine.

For more information, please visit https://eightroads.com/en/

SOURCE Shinobi Therapeutics

Conversational AI leader doubles ARR and customers in 2023, fueled by product innovation and team expansion

INDIANAPOLIS, Dec. 12, 2023 — Authenticx, the new standard in healthcare for listening to customer voices at scale, ends 2023 on a high note after building on its 2022 momentum and enhancing its conversational AI models.

Authenticx’s year of significant growth started with a $20M Series B funding round to expand the business, fuel sales and innovate the features of its robust conversational intelligence platform.

Since January, Authenticx has increased its staff headcount by 27%. The company also appointed industry veteran Eric Prugh as the organization’s first Chief Product Officer, welcomed Todd Pedersen as Chief Strategist, and created a Chief Evangelist role headed by Leslie Pagel.

In addition to increasing staff, Authenticx grew its ARR by roughly 2x and doubled its customer count, primarily consisting of large healthcare enterprises. This expansion resulted in a 400% increase in total users in 2023. Authenticx’s growth earned it recognition as No. 349 on the Inc. 5000, a list of the fastest-growing private companies in America.

“Our aim is to shape the next era of customer listening into one that both prioritizes patients and caregivers and benefits the companies that serve them,” said Amy Brown, CEO of Authenticx. “Our healthcare system is complex and confusing for those trying to navigate it. The crushing complexity disrupts the patient experience and impacts the bottom line for businesses. The growth we’ve experienced this year enables us to serve more healthcare organizations, hear more stories from real customers, pinpoint areas of frustration along the customer journey and offer leaders insights to resolve them.”

In 2023, Authenticx hosted its inaugural Voices23 Summit, convening healthcare leaders from provider, payer, and life sciences organizations to discuss making industry change through conversation-driven insights. At the event, Authenticx also released new data from the fourth edition of its Customer Voices in Healthcare Report, an in-depth review of the customer journey and where it is most impacted by conversational AI. 

Authenticx remains committed to offering high-quality, robust conversational intelligence solutions. In 2023, the company enhanced its platform by:

• Introducing Conversation Explorer: Streamlines customer voice analysis and contextual insights into agent performance and process inefficiencies.
• Augmenting APIs: Integrates rich customer insights and conversational data into other business systems for unified insights and decision-making.
• Refining Eddy Effect AI Model: Enables users to pinpoint conversational cues that trigger AI identification of customer friction points.
• Developing New AI Models: Safety Event and Acknowledgement AI model for pharmaceutical compliance and HIPAA-sensitive information verification model for contact centers.
• Prioritizing Platform Optimization: Ongoing refinements to Transcription, Summarization, and UI, including Spanish-to-English translation support.

In addition to company-wide recognition, two Authenticx employees were honored for personal excellence. Julie Gallina received TechPoint’s Tech 25 award, which acknowledges exceptional and dedicated individuals in the Indianapolis technology community. IBJ recognized Kip Zurcher as one of its CFO of the Year honorees, recognizing Indiana’s top financial executives helping their companies flourish.

“One of our basic human desires is to feel heard and understood. Our mission is to help foster that understanding throughout the healthcare journey. We will continue innovating, improving and working toward that goal in 2024 and beyond,” said Brown.

About Authenticx
Authenticx is the new standard for humanizing conversational intelligence in healthcare by analyzing millions of customer interactions (like voice, chat, or emails) to surface immersive and intelligent insights at scale. Authenticx was founded to aggregate, analyze and activate customer interaction data to surface transformational opportunities in healthcare. Using existing data that’s likely being stored and ignored in your organization, Authenticx reveals hidden barriers, motivators, and strategies so healthcare organizations can make confident, data-backed decisions. In 2023, Authenticx was ranked No. 349 on the Inc. 5000 recognized as one of America and Indiana’s fastest-growing private companies.

Media Contact:
BLASTmedia on behalf of Authenticx
Tori Klimczak
[email protected]
317.806.1900 ext. 179

SOURCE Authenticx

ROCKVILLE, Md., Dec. 12, 2023 — Origin AI™, a pioneering force in WiFi Sensing technology, today announced the successful close of its latest $15.9 million Series B extension round. With Verisure at the forefront as the lead investor, the company has secured significant capital to accelerate its growth, expand its product portfolio, and bolster its support for customer deliveries.

This funding round witnessed enthusiastic participation from notable new investors, including Verisure and Okinawa Electric Power Company, and follow-on investors, Verizon Ventures and INSPiRE, all of whom have expressed confidence in Origin’s vision and potential.

“We are immensely grateful for the trust and support from Verisure and all our investors,” stated Spencer Maid, CEO of Origin AI. “This funding empowers us to advance our mission of providing reliable, efficient, and innovative WiFi Sensing solutions to customers worldwide, while also expanding our product range and growing our customer base.”

The fresh capital will be strategically utilized to broaden the company’s product offerings and significantly grow its commercial business, thereby providing enhanced solutions to a wider customer base.

“We are extremely pleased to lead the investment in Origin AI,” said Cristina Rivas, Chief Technology Officer at Verisure. “We are impressed with the Origin AI team and their standard-setting technology. WiFi Sensing has an exciting potential to complement our security offering and support our mission to provide peace of mind to families and small businesses. As pioneers in our respective fields, we look forward to partnering with Origin AI across our geographical footprint”.

For more information about Origin AI and its ground-breaking WiFi Sensing technology, visit www.originwirelessai.com.

About Origin
Origin AI is a pioneer in transforming WiFi signals into innovative WiFi Sensing technology and category leader providing precise presence sensing solutions for Fortune 500 ISP, security, and IoT companies with applications and services in property security, smart automations and eldercare. Leveraging its patented and award-winning AI, Origin AI detects and verifies human presence, offering unparalleled accuracy and security. WiFi can do more. For more information about Origin AI and its groundbreaking technology, visit our website at www.originwirelessai.com.

About Verisure
Verisure is the leading European provider of professionally monitored security systems with 24/7 response services. We protect more than 5 million families and small businesses across 17 countries in Europe and Latin America. Our mission is to provide our customers peace of mind by protecting what matters most to them.

With over 35 years of insight, experience, and innovation, Verisure is known for category-creating marketing, sales excellence, innovative products and services, and customer-centricity.

Thanks to a strong focus on high quality, our customers are amongst the most satisfied and loyal in our industry. We have some of the strongest growth and retention rates globally in consumer-facing services, which demonstrates our exceptional service levels and strong value proposition to our customers.

For more information, please visit: www.verisure.com.

SOURCE Origin AI

OSLO, Dec. 12, 2023 — Reltime, a forefront innovator in blockchain technology, is proud to announce that it has received a significant funding approval from the Research Council of Norway. This endorsement and financial support have been received for Reltime’s ground-breaking three-year development initiative on “Using 5G Mobile Handsets as node validators in Reltime’s Layer 1 Blockchain for Microtransactions.”

In June 2023, Reltime had confirmed that it has performed an initial pilot in using 5G handsets as node validators in its layer-1 Proof of Authority Blockchain and would continue to develop this solution. So, the funding decision from the Research Council of Norway is well-timed. This ambitious project aims to integrate the massive computing and scaling power of 5G mobile handsets (as node validators in a layer 1 blockchain) and revolutionize the use of blockchain in handling microtransactions. 

Top 3 Project Highlights: 

• Innovative Integration: Utilizing the advanced speed and connectivity of 5G handset technology to enhance blockchain efficiency as Node validators, instead of using traditional servers. 

• Enhanced Microtransaction Capabilities: Focusing on the growing demand for swift and secure small-value transactions e.g., IoT, machine-to-machine transactions, rural markets. 

• Connect the existing Layer 1 Proof of Authority Blockchain with Mobile handset Node: A step forward in blockchain technology, emphasizing security, speed, and reduced environmental impact. 

CEO & Co-Founder, Marlene Julo said, “The funding from the Research Council of Norway is not just a financial boost but a significant vote of confidence in our vision. Our latest development project will help to optimize this innovation and effectively leverage 5G Node in our PoA blockchain, revolutionizing how microtransactions are conducted globally.”  

About Reltime 

Reltime is revolutionizing the financial and digital services industry with its advanced Web3 platform. Reltime has developed its own Layer-1 Proof of Authority Blockchain with zero transaction and gas fees. The platform includes a range of applications such as non-custodian wallets, SuperApp, loyalty programs, payment solutions, lending services, QR codes, CBDCs and digital fiats, and utility tokens. Additionally, the Reltime platform provides customer administration features like eKYC, identity management, SLA, and reporting. By incorporating a decentralized identity, Reltime is driving the next generation of digitization in supply chain management, tokenization, asset ownership, and global trade.  

For more information on Reltime, visit, https://www.reltime.com/   

Press Contact Reltime: Bishwajit Choudhary, [email protected]    

The following files are available for download:

SOURCE Reltime AS

TULSA, Okla., Dec. 11, 2023 — The University of Tulsa and Hurricane Ventures have announced two new start-up investments, BPEndo and Titan Intake.

“We are excited by the continued momentum of Hurricane Ventures,” said Chris Wright, director of UTulsa’s Center for Innovation & Entrepreneurship. Created in partnership with 46 Venture Capital, Hurricane Ventures is a funding catalyst for student, alumni, faculty and staff startups.

Leveraging university resources, Hurricane Ventures is seeding early-stage companies to drive real impact across the economy and further the mission of UTulsa’s Collins College of Business. Launched in early 2023, Hurricane Ventures has raised $2 million – well on its way to a $10 million goal – to commercialize intellectual property, create new ventures and attain venture capital funding. The university aims to provide seed capital for 100 companies started by UTulsa affiliates.

In September, Hurricane Ventures announced its first start-up investments, SkinCheck and Airwise Solutions. The investments in BPEndo and Titan Intake were announced at a recent Friends of Finance meeting organized by Collins College of Business.

Dr. Jeffery Blonsky, who received his UTulsa degree in biological science in 1999, is a key partner in BPEndo. The company’s Insufflation Retention Device (IRD) is approved by the U.S. Food and Drug Administration for use in colonoscopy procedures. The BPEndo IRD was designed to improve the colonoscopy experience for patients, physicians and payors. The company has made substantial progress toward securing a global patent portfolio and recently received FDA clearance for the IRD.

“Having partners such as Hurricane Ventures is invaluable,” said Dr. Robert Holbrook, founder and CEO. “The funding provided is instrumental in overcoming the obstacles founders face when bringing a new device to market. I am grateful for all their support.”

Titan Intake, founded by Patrick Bruce, Rachel Brown and Jhonathan Vazquez, is revolutionizing health care with its patient referral software driven by artificial intelligence. The unique platform automates incoming referral data directly into electronic medical records, ensuring clinics immediately capture, process and communicate patient referrals.

“Hurricane Ventures’ new fund is a game-changer for Tulsa’s startup scene, particularly addressing a vital gap in early-stage financing. This funding will empower us to expand our reach to clinics across the nation, accelerate our growth and boost Tulsa’s economy,” said Bruce, who received his UTulsa degree in philosophy in 2013.

SOURCE The University of Tulsa