Cardumen Capital aims to be the most active investor on the cap table. The company boasts an international Value Creation team that bridges the gap between international corporations and Israeli entrepreneurs. Cardumen Capital supports and works closely with entrepreneurs in anything from business development to fundraising. It’s portfolio of exceptional entrepreneurs has a strong co-investor base such us as SaaS cybersecurity platform DoControl (backed by Insight Partners and Crowdstrike), Big Data B2G platform IVIX (backed by Insight Partners and Citi Ventures) or NeuReality (backed by Samsung and SK Hynix).

“Israeli entrepreneurs rise to the occasion under adversity”, said Cardumen Capital’s Co-Founder and General Partner, Gonzalo Martínez de Azagra. “It’s in tough times when great companies are built. Our commitment to Israeli tech is stronger than ever. This commitment is reflected in our local team expansion. As a team of Israelis and Europeans, heavily connected with the US and Asian markets, we are well-positioned to give our startups access to worldwide markets. We look forward to partnering with entrepreneurs and our fellow investors in 2024 and beyond.”

“We see a huge opportunity in the current market. We are actively deploying in what will probably be one of the best vintages of our generation,” said Nimrod Brandt, Cardumen Capital’s appointed Partner in Israel and an investment expert who has filled a number of executive roles at Hutchison, Gazit-Globe and Credit Suisse.

Cardumen Capital has also expanded its team over the past year with Nadav Charnilas (Principal), a product and marketing veteran with over a decade of experience as a leader and operator at tech giants Microsoft, Vimeo, and Wix and Dana Kleiman (Associate), formerly Attorney at Israeli elite boutique Yigal Arnon & Co. The three have joined Noa Shamay (Principal) who has been with the firm for four years.

About Cardumen Capital

Cardumen Capital is a Venture Capital firm with offices in Tel Aviv and Madrid. Chaired by Gil Gidron and founded in 2018 together with Gonzalo Martínez de Azagra and Igor de la Sota, the company invests in early-stage DeepTech companies. Cardumen Capital has more than $225M under management and a team of professionals with a solid track record and more than a decade of experience investing in tech companies worldwide.

Contact:
[email protected]
Tel: +34 609 501 187

Photo: https://mma.prnewswire.com/media/2319532/Cardumen_Capital_team.jpg

SOURCE Cardumen Capital

AUSTIN, Texas, Jan. 17, 2024 — Today, Nutrabolt announced a significant minority investment into Bloom Nutrition. The investment provides Nutrabolt with an ownership stake of approximately 20%, making the company Bloom’s largest investor. This investment is part of a larger $90 million financing that also includes veteran CPG investor Clayton Christopher and consumer investment firm Amberstone.

Bloom Nutrition – founded in 2019 by Mari Llewellyn and Gregory LaVecchia – offers high-quality health supplements aimed at helping consumers achieve their wellness goals. The founders’ vision is to make healthier living accessible to all by reimagining supplements with flavor and function.

Commenting on the investment, Nutrabolt’s Chairman and CEO Doss Cunningham stated, “We are very excited to partner with Mari and Greg, two outstanding entrepreneurial founders, during the next phase of their company’s growth. They’ve built an incredibly strong brand and business over the past 4.5 years, yet there is still tremendous whitespace to pursue in the form of new product platforms and distribution opportunities.”

Cunningham further stated, “It’s rare to find people like Mari and Greg who are so passionate about a lifestyle that they decide to make it their life’s work and create a business around it, but that is what happened here. Beyond their impressive growth and category leadership, it was their authenticity and love for the space that attracted Nutrabolt most to this opportunity.”

The investment will provide strategic growth capital to fuel and accelerate many key areas of Bloom’s business – namely demand-generation activities, product innovation, and expanding internal capabilities to support the growing business.

“When we started this company, we could’ve never imagined building such a huge community, and inspiring so many to begin their wellness journeys. Our goal at Bloom has always been to help everyone ‘bloom’ into their best selves through nutritious and delicious supplements. It’s an incredible honor to have Nutrabolt join us in extending our mission further,” added Mari Llewellyn, co-founder of Bloom Nutrition. 

Bloom debuted as a direct-to-consumer business and has since evolved into an omni-channel company anchored by its popular Greens and Superfoods product. Today, Bloom is the #1 Greens brand in the U.S., and one of the fastest-growing supplement brands of the decade.

“We’re thrilled to partner with Nutrabolt in taking our company to new heights. Their expertise and resources as industry leaders will enable us to scale effectively, fuel sales growth, and accelerate innovation. This is a significant leap forward, and we could not be more excited to embark on this next phase of growth together.”  said Greg LaVecchia, Co-Founder of Bloom Nutrition.

Jeffries LLC served as financial advisors to Nutrabolt with Goodwin Proctor LLP and Polsinelli acting as legal counsel to the company. Intrepid served as financial advisors to Bloom Nutrition with Buchalter and Giannuzzi Lewendon acting as legal counsel.

Bloom co-founders remain the majority shareholders. As part of this investment, Doss Cunningham will represent Nutrabolt on Bloom’s Board of Directors. Clayton Christopher will also join the Bloom board.

ABOUT NUTRABOLT
Nutrabolt is a fast-growing, global active health and wellness company with a portfolio of market leading performance-oriented brands that energize and fuel active lifestyles. The company’s disruptive and innovative products compete in the Functional Beverage and Active Nutrition segments, under three consumer-loved brands: C4^® (one of the fastest-growing energy drink brands in the United States and the #1 selling global pre-workout brand), XTEND^® (the #1 post-workout recovery brand in the United States), and Cellucor^® (an award-winning sports nutrition brand created in 2002).

Since its founding more than 20 years ago, Nutrabolt has set out to meet the discerning needs of performance athletes and fitness enthusiasts, while appealing beyond this core group to include consumers around the globe who are making healthy, active living a daily priority.

Nutrabolt’s portfolio, which is distributed in over 125 countries, is sold through company-owned DTC platforms, Amazon, and other third-party e-commerce marketplaces, and is available at leading retailers across the U.S., including Walmart, Target, 7-Eleven, Walgreens, Kroger, H-E-B, Wawa, Publix, GNC, and the Vitamin Shoppe. For more information about Nutrabolt, please visit www.nutrabolt.com.

ABOUT BLOOM
Bloom Nutrition is on a mission to help everyone bloom into their best selves with high quality, health supplements reimagined with flavor and function. After hitting rock bottom mentally and physically, co-founder Mari Llewellyn turned to fitness, lost over 90 pounds, and transformed her life with the help of her now-husband Greg LaVecchia. She was inspired to help others do the same, and with that mindset, Bloom was born. Founded in 2019, Bloom is redefining the health and wellness space with easy-to-use supplements designed to give your body the nutrients it needs to bloom.

Bloom is most known for their Greens and Superfoods powder, which has gone viral on TikTok for its great-tasting flavors and benefit-driven formula. Since then, Greens along with the rest of their line of wellness products such as pre-workout, protein powders, and collagen creamers, have experienced exponential growth. What began as a social-media-native brand has quickly become the #1 Greens brand in the U.S., and is now available at leading retailers nationwide including Target, Walmart, Sam’s Club, GNC, and more. Bloom’s community-driven approach and accessible branding has garnered a loyal Gen Z and millennial following across the nation. For more information, please visit bloomnu.com.

SOURCE Nutrabolt

• Company more than doubles funding for its venture capital arm, Aramco Ventures
• Decision supports Aramco’s long-term strategy through investments in strategic areas of business development
• Intention to finance game-changing innovations across a variety of industries

DHAHRAN, Saudi Arabia, Jan. 17, 2024 — Aramco (“the Company”), one of the world’s leading integrated energy and chemicals companies, has allocated an additional $4 billion to its global venture capital arm, Aramco Ventures. It will more than double the capital allotted to Aramco Ventures, increasing its total investment allocation from $3 billion to $7 billion.

It will take Aramco’s overall venture capital allocation to $7.5bn, which also includes the $500 million venture capital fund Wa’ed Ventures that focuses on the start-up ecosystem in the Kingdom of Saudi Arabia.

The decision reflects the growing significance of Aramco’s venture capital program in enabling the development of disruptive new technologies, creating diversification opportunities for Aramco, and paving the way for collaborations with innovative start-ups. In doing so, it aims to help advance the Company’s long-term strategy, which includes a focus on new energies, chemicals and transition materials, diversified industrial businesses, and digital technologies.

Ahmad Al Khowaiter, Aramco Executive Vice President of Technology & Innovation, said: “Innovation is key to addressing some of the fundamental challenges facing the world today, including the energy transition. Through Aramco Ventures, we aim to support pioneers with big ambitions, and ultimately help bring their ideas to life. By injecting an additional $4 billion in funding over the next four years, we intend to provide the financial backing required to take game-changing solutions to the next level. This will provide crucial impetus to businesses at various stages of development around the world, while also contributing to Aramco’s own long-term objectives.”

Prior to the new capital allocation, Aramco Ventures managed three funds. These are a Digital/Industrial Fund, which stood at $500 million, investing in technologies of strategic importance to Aramco; the Prosperity7 Fund with $1 billion, investing in disruptive technology ventures beyond the energy sector; and the Sustainability Fund, which stood at $1.5 billion and invests in start-ups with the potential to support Aramco’s ambition to achieve net-zero Scope 1 and Scope 2 greenhouse gas emissions across its wholly-owned and operated assets by 2050.

Aramco Contact Information
X: @aramco

About Aramco

Aramco is a global integrated energy and chemicals company. We are driven by our core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. www.aramco.com 

About Aramco Ventures

Aramco Ventures is the corporate venturing subsidiary of Aramco, the world’s leading fully integrated energy and petrochemical enterprise. Headquartered in Dhahran with offices in North America, Europe and Asia, Aramco Ventures strategic venturing programs invest globally in start-up and high growth companies with technologies of strategic importance to its parent, Aramco, primarily supporting the company’s operational decarbonization, new lower-carbon fuels businesses, and digital transformation initiatives. Aramco Ventures also operates Prosperity7, the company’s disruptive technologies investment program.

For more information, please visit www.aramcoventures.com.

Disclaimer

The press release contains forward-looking statements. All statements other than statements relating to historical or current facts included in the press release are forward-looking statements. Forward-looking statements give the Company’s current expectations and projections relating to its capital expenditures and investments, major projects, upstream and downstream performance, including relative to peers. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “can have,” “likely,” “should,” “could,” and other words and terms of similar meaning or the negative thereof. Such forward looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance, or achievements expressed or implied by such forward looking statements, including the following factors: international crude oil supply and demand and the price at which it sells crude oil; the impact of pandemics or infectious diseases on business and economic conditions and on supply and demand for crude oil, gas and refined and petrochemical products; competitive pressure; climate change concerns and impacts; weather; cyclicity of gas, oil, refining and petrochemical sectors; terrorism and armed conflict; adverse economic or political developments; operational risks and hazards in the oil and gas, refining and petrochemicals industries; any significant deviation or changes in existing economic and operating conditions that could affect the estimated quantity and value of the Company’s proved reserves; losses from risks related to insufficient insurance; the Company’s ability to deliver on current and future projects; comparability amongst periods; the Company’s ability to realize benefits from recent and future acquisitions, including with respect to SABIC; risks related to operating in several countries; the Company’s dependence on its senior management and key personnel; the reliability and security of the Company’s IT systems; litigation to which the Company is or may be subject; risks related to oil, gas, environmental, health and safety and other regulations that impact the industries in which the Company operates; risks related to international operations, including sanctions and trade restrictions, anti-bribery and anti-corruption laws and other laws and regulations; risks stemming from requirements to obtain, maintain, and renew governmental licenses, permits, and approvals; risks stemming from existing and potential laws, regulations, and other requirements or expectations relating to environmental protection, health and safety laws and regulations, and sale and use of chemicals and plastics; potential changes in equalization compensation received in connection with domestic sales of hydrocarbons; potential impact on tax rates if the Company does not separate its downstream business in a timeframe set by the Government of Saudi Arabia; risks related to Government-directed projects and other Government requirements, including those related to Government-set maximum level of crude oil production and target Maximum Sustainable Capacity (MSC); as well as the importance of the hydrocarbon industry to the Government; political and social instability and unrest and actual or potential armed conflicts in the regions in which the Company operates and other areas; interest and exchange rate fluctuations; risks arising should the Government eliminate or change the pegging of SAR to the U.S. dollar; and other risks and uncertainties that could cause actual results to differ from the forward looking statements in this press release, as set forth in the Company’s latest periodic reports filed with the Saudi Stock Exchange. For additional information on the potential risks and uncertainties that could cause actual results to differ from the results predicted please see the Company’s latest periodic reports filed with the Saudi Stock Exchange. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future. The information contained in the press release, including but not limited to forward-looking statements, applies only as of the date of this press release and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the press release, including any financial data or forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law or regulation. No person should construe the press release as financial, tax or investment advice. Undue reliance should not be placed on the forward-looking statements.

PHOENIX, Jan. 16, 2024 — Cedar Crest Capital, an operations-focused investment firm specializing in non-digital businesses within the lower middle market, today announced that it has received a strategic investment from The Najafi Companies. This partnership underscores a shared commitment to long-term investing in traditional businesses.

Since its establishment in 2002, The Najafi Companies has become known for its entrepreneurial approach and its diversified investment portfolio across consumer brands, ecommerce, media, technology, and sports. The decision to invest in Cedar Crest Capital reflects a shared belief in the value of traditional businesses.

“The Najafi Companies’ investment is a significant endorsement of our own investment strategy and our firm’s ability to drive results. Their backing is more than just capital; it’s a partnership that will amplify our reach and capabilities,” said Kazem Harfouche, Founder of Cedar Crest Capital.

Jahm Najafi, Founder of The Najafi Companies, echoed this sentiment, “Our investment in Cedar Crest aligns with our firm’s entrepreneurially-driven philosophy of identifying and enhancing value in market sectors typically overlooked. Cedar Crest’s focus on the non-digital lower middle market presents a unique opportunity, and we are enthusiastic about our joint efforts in this sector.”

This partnership marks a significant moment for Cedar Crest Capital, paving the way for accelerated growth and an expanded market presence. It’s a forward-looking move that reflects both firms’ confidence in the resilience and enduring value of traditional businesses.

About Cedar Crest Capital

Cedar Crest Capital is a Phoenix based investment firm founded by Kazem Harfouche with a focus on non-digital traditional businesses in the lower middle market. The firm prides itself on its operational expertise and is dedicated to supporting overlooked businesses that have stood the test of time and are poised for continued success. To learn more, visit www.cedarcrestcap.com.

About The Najafi Companies

The Najafi Companies, based in Phoenix is an entrepreneurially driven private investment firm founded by Jahm Najafi in 2002. The firm makes investments across industries, with significant holdings in consumer brands, ecommerce, media, technology and sports. For more information, visit www.najafi.com.

SOURCE Cedar Crest Capital

LOS ANGELES, Jan. 16, 2024 — Meaningful Partners LLC (“Meaningful”) announced today the initial closing of a strategic growth investment in M2 Ingredients and Om Mushroom Superfood, (“M2”, “Om” or the “Company”), a vertically integrated nutraceuticals platform focused on organic functional mushrooms, providing clinically-proven whole body health benefits including cognitive, immunity and stress relief/sleep support. Meaningful Partners led the funding round and was joined by existing investors White Road Investments and InvestEco. The investment will help accelerate the distribution and marketing of Om as well as scale manufacturing to meet customer demand via their new state-of-the-art growing facility.

“Meaningful Partners is keenly aligned with our purpose driven company – M2 Ingredients/Om Mushroom strives to harness the amazing power of mushrooms for healthier lives”, said Dr. Sandra Carter, Founder and CEO of the Company. “Meaningful’s network, capital support and strategic vision in conjunction with our current investors and team will position M2 Ingredients to lead the functional mushroom industry in science and scale as an ingredient supplier and to continue to produce high quality, highly efficacious and innovative products through Om Mushroom Superfood. Our company is built on the expertise and passion of our team who have pioneered the functional mushroom industry and we are proud to have Meaningful Partners support our team and mission.”

M2 Ingredients is a vertically integrated nutraceuticals platform, leveraging the power of 100% organic whole food functional mushrooms through their B2B platform, M2 Ingredients, and their in-house superfood supplement brand, Om. The Company operates the largest organic functional mushroom growing facility in North America, growing ten species including Lion’s Mane, Chaga, Reishi, Turkey Tail and Cordyceps, with seven patented strains. The Company has built a new 155,00 square foot growing facility in Vista, California, to open in Q1 2024, which will significantly increase growing capacity to satisfy its increasing customer demand.

Om uses M2’s high quality mushrooms to deliver innovative and clinically-proven supplements, powders, gummies, drink mixes and protein powders across the natural, direct-to-consumer and e-commerce channels. This new investment will support the Company’s execution of its strategic vision, including the strengthening of its leading market position across existing channels as well as expanding distribution to reach new customers. Functional mushrooms have been used in traditional medicine for thousands of years and have been increasingly used in natural/better-for-you supplements as well as food & beverages for their health benefits, including improved memory and focus (nootropics), immunity, stress relief and sleep support and more.

“At Meaningful Partners, we invest in companies at the intersection of Purpose and Profit so could not be more excited to partner with Sandra, her high performing management team and the existing investor group to help execute on the Company’s next stage of growth,” said Jake Capps, co-Founder and Managing Partner of Meaningful Partners. “M2 has been at the forefront of providing the highest quality and clinically-backed functional mushrooms for over a decade and with their new, state-of-the-art growing facility will be well positioned to support existing and new customer demand in a category that grew over 50% last year. Additionally, the Company’s Om brand has the highest growth of any other scaled brand in the functional mushroom category with a massive opportunity to further increase distribution across every channel of trade to reach customers that are increasingly seeking to embrace natural and clinically-backed superfood products to help improve whole body health outcomes.”

Blair Kellison, part of the Meaningful Partner’s Expert Community of seasoned operators across the consumer sector, will remain Chairman of the Board of Directors of M2. Blair brings more than 30 years of experience in the natural and better-for-you food, beverage and supplement space, formerly serving as the CEO of Traditional Medicinals.

Buchalter represented Meaningful Partners as legal counsel in connection with the investment. Brownstein Hyatt Farber Schreck represented M2 Ingredients as legal counsel. Harrison & Co. advised M2 Ingredients related to the financing round. Terms of the investment are not disclosed.

About M2 Ingredients
M2 Ingredients, founded in 2010 and based in Carlsbad, CA, is a leading producer of 100% organic, whole food mushroom powders with the full spectrum of bioactive compounds to support daily health, sports performance, recovery and cognition, with a consumer-packaged-goods brand, Om, that uses their high quality mushroom powders and proprietary formulas to sell easy-to-consumer, multi-factor wellness products utilizing an omni-channel strategy with nationwide distribution.

About Meaningful Partners LLC
Meaningful Partners, with offices in Los Angeles, CA and Austin, TX, invests in purposeful consumer products and services businesses that have earned customer trust and loyalty, demonstrate a commitment to all stakeholders, and are led by management teams empowering positive purpose and performance. Meaningful Partners makes control and minority investments ranging from $10 million to $50+ million in lower-middle market and high-growth companies. The firm is led by an experienced investor and operator management team that leverages an Expert Community of 45+ CEO/Founders and discipline experts with over 850+ years of collective experience who bring relevant domain expertise to help accelerate the growth and impact at our partner companies. More at www.meaningfulpartners.com.

About InvestEco
InvestEco Capital Corp has a 20-year history of investing in growing North American businesses. Since the launch of InvestEco Sustainable Food Fund I in 2012, InvestEco has focused on promoting Canadian and US businesses seeking to improve health outcomes and reduce the environmental impacts of the overall food ecosystem. Learn more at https://investeco.com.

SOURCE Meaningful Partners

SAN FRANCISCO, Jan. 16, 2024 — Bloomlife, the award winning maternal health company, has received clearance from the US Food and Drug Administration (FDA) for Bloomlife MFM-Pro, their first maternal and fetal monitoring device. This announcement comes on the heels of Bloomlife’s partnership with Perigen that aims to improve essential monitoring of high-risk pregnancies. 

Bloomlife MFM-Pro is a prescription based wearable device designed to help healthcare providers measure maternal and fetal heart rate in the patient’s home or in the clinic. The device non-invasively measures electrical activity of the body and algorithmically extracts maternal and fetal heart rate via cloud based processing. The FDA clearance represents a major milestone in their journey transitioning from consumer to medical markets. 

Since its inception Bloomlife has been at the forefront of maternal health innovation. The company first gained recognition with the Bloomlife Pregnancy Tracker, a patch-based wearable device designed to automatically track and time contractions. The consumer product won accolades throughout the mom and tech community winning multiple awards for design and innovation including the CES Innovation Award, CLIO Award, and BUMP Best of BabyTech award. The company’s vision to leverage the device to aggregate unique longitudinal data to tackle massive intractable challenges in the maternal health space such as preterm birth resulted in additional recognition including Fast Company World Changing Ideas and Johnson and Johnson Innovation Award. 

In 2020 the company shifted to focus on medical markets with the goal of developing a comprehensive remote maternal health platform to enable clinicians to better screen and manage the increasing rates of pregnancy complications. 

“Our pioneering consumer pregnancy tracker proved that women want access to more information during a pivotal time of her life. The FDA clearance of Bloomlife MFM-Pro marks an important milestone by cementing our transition from consumer to medical markets”, says Eric Dy PhD, Co-Founder and CEO of Bloomlife.

Earlier this year the WHO published their latest Trends in Maternal Mortality 2000 to 2020, which showed globally that in 2020 a woman died every two minutes due to pregnancy or childbirth complications. These trends are not limited to the developing world. Before, during, and after childbirth, women in the US are dying at a higher rate from pregnancy-related causes than in any other developed nation. Increasing rates of high risk pregnancies demand greater clinical support, while decades long shortages of maternal health providers create barriers to care affecting urban and rural communities alike. Bloomlife believes there’s a role for technology to play in addressing this global maternal health crisis. 

“Covid revealed a significant amount of maternal care can be done outside of clinical settings. However, there remains a need to augment basic telehealth appointments with objective physiological data. Utilization of connected care solutions can not only increase the quality of virtual appointments, but allow us to build a more efficient, equitable, and scalable means of screening and managing the health of mom and baby.” 

Bloomlife’s efforts aim to use technology to shift care from high cost clinical settings to the home to deliver evidenced based, low cost, high quality, patient centered care. The latest achievements show that the company is well underway to achieve its mission to improve the health of moms and babies globally.

About Bloomlife

Bloomlife is a women’s health company designing remote maternal health solutions to improve the health and well-being of moms and babies. They combine connected devices with cloud based analytics to improve access to care, empower women, and provide clinicians with information to more effectively screen and manage pregnancy complications. Bloomlife vision is to ensure every family gets a healthy start by enabling doctors and patients to address modifiable risk factors, detect abnormalities, and predict and prevent adverse events,

For more on Bloomlife, please visit: https://bloomlife.com/

SOURCE Bloomlife

• German company INERATEC is poised to lead the shift toward cleaner fuel solutions and drive the future of transportation
• TDK Ventures, in collaboration with other investors, participated in INERATEC’s Series B funding round, contributing to the successful raising of $129 million to propel the company into its next phase of sustainable mobility
• INERATEC is TDK Ventures’ first investment from the new energy transformation Fund, EX
• INERATEC’s patented microstructured reactor technology enables the production of ‘drop-in’ e-fuels for use in aviation, marine, and road transportation. Since 2016, INERATEC has built and delivered numerous modular microstructured reactors for liquid fuel and chemical production and is engaged with over 30 customers
• The company has been recognized with key awards including the German Founders’ Award, the Next Economy Award, and the EARTO Award; and was selected as a Top Innovator by UpLink, the Innovation platform of the World Economic Forum

SAN JOSE, Calif., Jan. 16, 2024 — TDK Corporation (TSE: 6762) announced today that subsidiary TDK Ventures, Inc. has participated in German pioneering e-fuel company INERATEC’s Series B funding round. Led by Piva Capital, other investors include HG Ventures, Copec WIND Ventures, The Rock Creek Group, Emerald Ventures, and Samsung Ventures, as well as current investors, including large corporate investors ENGIE New Ventures, Safran Ventures, and Honda Motors. With signed commitments for the round totaling more than $129 million (USD), the influx will accelerate production and commercialization of the company’s carbon-neutral e-fuel.

INERATEC’s technological advancement is a scalable patented microstructure reactor technology that enables the production of ‘drop-in’ e-fuels. The process involves reacting CO₂ with low-carbon hydrogen to make synthesis gas, which is then converted in another microstructured reactor into hydrocarbons. The resulting renewable e-fuels are then targeted at industries that rely heavily on fossil fuels, such as aviation, shipping, road transport, and the chemical industry, all known as hard-to-abate sectors that are major contributors to the world’s greenhouse gas emissions.

“Every year, more than 4,000 million tons of fossil crude oil worldwide are processed into fuels and chemical products with much of the demand coming from hard-to-abate industries,” commented Nicolas Sauvage, TDK Ventures President. “We believe INERATEC’s innovative technology for producing e-fuels is the best solution and highly suited for the myriad of applications within this sector. We are delighted to be a part of INERATEC Series B funding and eager to see its technology at work in helping the world reduce or negate its dependency on fossil fuels.”

Hard-to-abate industries are desperately seeking renewable alternatives to achieve carbon-neutral goals. The demand for ‘drop-in’ e-fuels – or synthetic fuels – for use in combustion engines that require little to no adjustments relative to existing fuel infrastructure, is expected to triple by 2030, reaching $13.6 trillion by 2050, expanding at a CAGR of 19.0% over the forecast period 2023-2050.

“We are grateful for TDK Ventures’ participation in our Series B funding,” said Tim Boeltken, CEO of INERATEC. “They bring a lot to the table with their emphasis on scaling entrepreneurs and focus on sustainability and hard-tech projects. Transitioning from fossil fuels to sustainable e-fuels is a major undertaking. TDK Ventures has shown it is fully committed to doing whatever it takes to make it successful and profitable.”

INERATEC will use this new capital to start the mass production of its industrial-scale Power-to-X plants worldwide and advance the production of e-fuels made from recycled CO2 and renewable energy. Additionally, the company has begun construction of its largest plant to date in Frankfurt and is expanding through international projects in the Netherlands and Chile. This expansion will yield a 1,500x increase in production, recycling over 12,000,000 metric tons of CO2 annually. Beyond that, the technology will be implemented globally, wherever CO2 and renewable energy are available.

INERATEC represents TDK Ventures’ first investment from its $150 million Fund EX1, a fund the firm launched in mid 2023 to back early-stage leaders in energy transition, electrification, and decarbonization within the U.S. and Europe. To learn more about TDK Ventures, interested startups or investment partners should visit www.tdk-ventures.com or reach out at [email protected].

About TDK Corporation

TDK Corporation is a world leader in electronic solutions for the smart society based in Tokyo, Japan. Built on a foundation of material sciences mastery, TDK welcomes societal transformation by resolutely remaining at the forefront of technological evolution and deliberately “Attracting Tomorrow.” It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products. TDK’s comprehensive, innovation-driven portfolio features passive components such as ceramic, aluminum electrolytic and film capacitors, as well as magnetics, high-frequency, and piezo and protection devices. The product spectrum also includes sensors and sensor systems such as temperature and pressure, magnetic, and MEMS sensors. In addition, TDK provides power supplies and energy devices, magnetic heads and more. These products are marketed under the product brands TDK, EPCOS, InvenSense, Micronas, Tronics and TDK-Lambda. TDK focuses on demanding markets in automotive, industrial and consumer electronics, and information and communication technology. The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In fiscal 2023, TDK posted total sales of USD 16.1 billion and employed about 103,000 people worldwide.

About TDK Ventures

TDK Ventures Inc. invests in startups to bolster innovation in materials science, energy/power and related areas typically underrepresented in venture capital portfolios. Established in 2019 as a wholly-owned subsidiary of TDK Corporation, the corporate venture company’s vision is to propel the digital and energy transformations of segments such as next-generation transportation, robotics and industrial, mixed reality and the wider IoT/IIoT markets. TDK Ventures will co-invest and support promising portfolio companies by providing technical expertise and access to global markets where TDK operates. Interested startups or investment partners may contact TDK Ventures: www.tdk-ventures.com or [email protected].

About INERATEC

INERATEC is a pioneer in the field of Power-to-Liquid applications. The company supplies sustainable e-fuels as well as chemical products. Modular chemical plants for power-to-X and gas-to-liquid applications use hydrogen from renewable electricity and greenhouse gases such as CO2 to produce e-kerosene, CO2-neutral gasoline, clean diesel or synthetic waxes, methanol or SNG. Founded in 2016, INERATEC has already implemented industrial-scale power-to-liquid plants at German sites to boost the availability of sustainable fuels and chemicals in various transportation sectors, such as aviation. Further information can be found at www.ineratec.com.

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Contacts for regional media

Photo – https://mma.prnewswire.com/media/2317800/INERATEC.jpg

SOURCE TDK Ventures

SF-based venture capital fund Thomvest Ventures increases its total assets under management to $750M and promotes Umesh Padval and Nima Wedlake to Managing Directors

SAN FRANCISCO, Jan. 16, 2024 — Thomvest Ventures, a venture capital firm founded by Peter Thomson, today announced a new $250 million fund and the promotion of Umesh Padval and Nima Wedlake to the role of Managing Director. The new fund brings the firm’s total assets under management (AUM) to $750 million, enabling the firm to invest in the next generation of companies across the firm’s core focus areas of financial and real estate technology, cybersecurity, cloud and AI infrastructure.

“I started investing in entrepreneurs because of their potential to help shape our collective future,” said Peter Thomson, founder of Thomvest Ventures. “We believe that great companies are often born during challenging macroeconomic periods. And given the once-in-a-generation changes that we see happening now because of AI, that potential is as strong today as ever.”

Founded more than 25 years ago, Thomvest Ventures has made over 75 investments across early and growth stage startups. Notable investments have included Blend Labs, Carta, Clari, Cohere, Cylance, Harness.io, Kabbage, Isovalent, Ladder, LendingClub, Mynd, SoFi, Skyhigh Networks, ThousandEyes, and Vungle. The firm’s stage-agnostic, sector-specific approach is driven by its ongoing market research efforts and extensive operator and advisor network. 

Don Butler, the firm’s current Managing Director, said “Our experience of investing over the last quarter century means that we’ve lived through several market cycles. The combination of the current downturn in venture and the opportunities that AI enables make this the right time to be investing in the next generation of leaders in our focus areas.”

As part of the new fund, Thomvest Ventures is also announcing the promotion of two investors, Umesh Padval and Nima Wedlake, to the role of Managing Director. The two partners bring significant experience and an impressive investment track record to their respective areas.

Umesh Padval leads the firm’s investments in cybersecurity, cloud and AI infrastructure. Umesh has led Thomvest Ventures investments in a number of fast-growing companies including Bolster, Cohere, Clari, Cycognito, Harness.io, Isovalent (acquired by Cisco), Lastline (acquired by VMWare), Skyhigh Networks (acquired by McAfee), and ThousandEyes (acquired by Cisco).

“The disruption caused by generative AI this year provides us with a tremendous opportunity to create the next generation of companies in cybersecurity, cloud and AI infrastructure,” said Umesh Padval. “Our firm has been investing in companies that leverage AI for years like Bolster, Clari, Cylance, Harness and Qwiet AI, and our latest investment in Cohere marks our first in generative AI. We are humbled by the trust and confidence placed on us by founders and CEOs who have chosen to partner with us to build large enterprises. Our CEO and extensive board experience, combined with our CXO network, operational expertise, and the deep knowledge of the verticals we invest in, significantly differentiates us in the start-up community.” 

Nima Wedlake leads the firm’s investments in real estate technology. Nima has led the firm’s investment in a number of current and emerging industry leaders including Baselane, Blend, Keyway, Maxwell, Mynd, and Obie.

“We continue to see a number of unique opportunities in real estate—we are in the early days of digital transformation within the asset class,” said Nima. “I’m thrilled to be able to leverage our deep understanding of the space to support transformational founders and management teams.”

About Thomvest Ventures
Thomvest Ventures is a venture capital fund backed by Peter Thomson. The firm is focused on financial and property technology, cybersecurity and cloud and AI infrastructure. Thomvest Ventures has been investing in entrepreneurs for more than 25 years through its offices in Silicon Valley and Toronto. The firm is committed to helping our companies’ become leaders in their fields through leveraging our industry expertise and company-building experience. To learn more about Thomvest Ventures, please visit: https://www.thomvest.com/

SOURCE Thomvest Ventures

ATMORE, Ala., Jan. 16, 2024 — (OTCQX: UBAB) – United Bank has provided $700,000 in soft financing to Vantage Development for the construction of The Villas at York, a 52-unit affordable housing complex for seniors in Birmingham, Alabama. The soft financing is funded through United Bank’s 2020 Capital Magnet Fund award from the CDFI Fund division of the US Treasury Department. United Bank is also providing $4.5 million in construction financing to the project through its participation in United Community Bank’s $11 million construction facility. Once completed, the complex will offer one- and two-bedroom apartment homes to senior adults ages 55 and over. On-site amenities will include a laundry facility, clubhouse and community center, covered bus shelter, storm shelter, gazebo, a covered picnic pavilion, and a computer center. 

About United Bank

United Bank is a $1.3 billion financial holding company that serves Southwest Alabama and Northwest Florida. United is a Community Development Financial Institution (CDFI), which recognizes its commitment to stimulating economic development in underserved communities. UB Community Development (UBCD) focuses on economic and community development through its New Markets Tax Credits, affordable housing, and community facilities programs. Member FDIC.

SOURCE United Bank