Verticalized Approach Supported by World Class Technology to Drive Underwriting Performance

SAN FRANCISCO, Jan. 10, 2024 — Rainbow, a digitally-enabled managing general underwriter building tailored small business insurance products, has announced raising $12 million in seed funding with participation from Caffeinated Capital, Altai Ventures, Zigg Capital, 8VC, Buckley Ventures, Habitat Partners, and Arch Capital Group Ltd.

Led by an experienced team of repeat entrepreneurs, the company brings a fresh perspective to small business insurance by launching programs in specific verticals where Rainbow’s approach to data and technology delivers an underwriting advantage. The company’s flagship program, an admitted business owner’s policy (BOP) product specifically tailored to the restaurant industry, is currently live in 8 states and expected to be available in over 25 states in 2024. Exclusively distributed through independent insurance agents and digital partners, Rainbow’s restaurant program offers producers a specialized appetite at a time when many name-brand carriers are exiting the restaurant class of business. 

“Coming out of the pandemic, we saw a gap in the process of other underwriting companies and carriers focused on small commercial, and this was super clear with restaurants and their ever-evolving nature,” said Rainbow’s CEO and co-founder Bobby Touran. “Restaurants are a massive category where every operator requires insurance, and it has proven to be a challenging class for many capacity providers. We felt that building deep domain expertise in the verticals we focus on would allow us to use technology to tailor our underwriting and prioritize loss ratio, all while maintaining the critically important customer-centric approach to small business.”

Rainbow’s engineering team has developed a proprietary and scalable platform for underwriting and transacting every submitted risk. The company’s interwoven approach to utilizing data and technology in its underwriting creates differentiated value for both agents and insureds — rewarding policyholders that demonstrate prudent operations, and streamlining placement of accounts for agents, all while ensuring that the company is growing its book with a focus on loss performance.

“We are deeply invested in Rainbow and its world-class founding team, which has accomplished so much in such a short time since inception and despite market headwinds,” said Ray Tonsing, Managing Partner of Caffeinated Capital. “We are extremely encouraged by the early traction of their flagship program, and their exceptional platform capabilities have them poised to scale rapidly”.

The company’s vision extends beyond the foodservice class, with plans to launch specialized programs in additional business verticals that align with Rainbow’s underwriting approach and vision.

“We have always observed that customer centricity and vertical depth allows MGAs and carriers to generate outsized underwriting returns, all while being a valuable partner to the end insured. It’s one of the ways to create a clear win-win scenario in the insurance industry. We believe that Rainbow is creating differentiated infrastructure to enable this type of approach to work with technology and data.” said Oleg Ilichev, Managing Partner of Altai Ventures, a leading insurtech and fintech specialist venture capital firm.

Agents are encouraged to visit userainbow.com/restaurant-insurance-agents or email [email protected] to learn more about Rainbow’s insurance products and appetite, and to apply to become an appointed producer.  Rainbow is available today in the states of Texas, Michigan, Arizona, Indiana, Utah, Pennsylvania, Ohio, and Tennessee with plans to be live in 18 additional states in early 2024.

About Rainbow

Founded in 2022, Rainbow is a specialist managing general underwriter building tailored small business insurance programs, starting with restaurants. Through developing insurance products that reward small business owners for putting safety first, and evolve with their business’ ups and downs, Rainbow is pioneering the insurance policy that provides peace of mind while also working to help prevent claims. Rainbow offers its agent and broker partners a seamless, instant quote-to-bind experience, and digital partners are able to integrate with Rainbow’s powerful yet easy to use API to offer instant quoting to their customers. For more information on Rainbow, please visit www.userainbow.com.

Social Media

Blog: https://www.userainbow.com/blog
Linkedin: https://linkedin.com/company/userainbow

For media inquiries, please contact: 
Julia Wilkinson
[email protected]

SOURCE Rainbow MGA Insurance Agency, Inc.

NUEVA YORK, 10 de enero de 2024 — SCUBA Analytics, pionero en el campo de la inteligencia de decisiones de colaboración de datos de alta frecuencia, se complace en anunciar el nombramiento de Marc Ryan como director de productos. Marc es un experto experimentado en medios y medición, y recientemente trabajó como director de datos en Kantar.

“Estamos encantados de que Marc se una a SCUBA para ayudar a impulsar la modernización de las marcas y editores líderes a medida que entran en una nueva era de automatización y conocimiento de la audiencia que prioriza la privacidad. La industria publicitaria simplemente necesita una mejor manera de convertir señales en inteligencia de decisiones rápida y al mismo tiempo proteger la privacidad del consumidor”, explicó el consejero delegado, Tony Ayaz.

Marc aporta una gran experiencia a SCUBA Analytics, habiendo labrado una destacada trayectoria profesional a través de puestos de liderazgo en algunas de las empresas más respetadas de la industria. Su experiencia para navegar por las complejidades de MarTech y AdTech Stack y su previsión sobre los desafíos inminentes de la depreciación de las cookies de terceros lo posicionan como un actor fundamental en el panorama cambiante del mundo de la publicidad.

“Estamos en un momento crítico en la industria de la publicidad”, afirmó Marc Ryan. “Es un honor unirme a SCUBA Analytics, una empresa que se está adaptando a estos cambios y liderando la innovación en soluciones. Espero contribuir al crecimiento de la empresa y ayudar a nuestros clientes a afrontar las complejidades del panorama publicitario actual”.

Acerca de SCUBA Analytics
SCUBA es la única plataforma de colaboración de datos en tiempo real que ofrece activación avanzada y segmentación dinámica de audiencia impulsada por IA. Marcas globales como Microsoft, McDonald’s, Twitter y Warner Bros confían en SCUBA para obtener información instantánea sobre todas las interacciones con los clientes y aprovechar cada oportunidad.

SCUBA es la única plataforma de colaboración de transmisión de datos que proporciona inteligencia y activación para tomar decisiones en el momento sin comprometer la privacidad. Marcas globales como Microsoft, McDonald’s, Twitter y Warner Bros confían en SCUBA para obtener información instantánea en miles de millones de puntos de contacto, impulsando experiencias y crecimiento en tiempo real. Fundada por exejecutivos de Facebook y dirigida por veteranos de la industria de Kantar, Sonos y Splunk.

Contacto de medios: Nick Sabean, SCUBA Analytics [email protected] 480.490.8597 www.scuba.io

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HOUSTON, Jan. 10, 2024 — Nauticus Robotics, Inc. (NASDAQ: KITT) (“Nauticus” or the “Company”), a developer of subsea autonomous robotic systems and software, today announced that it secured an investment before the close of 2023 and eliminated many of the dilutive warrants and ratchet provisions of the original de-SPAC financing in the process.  The new investment is the first tranche of financing led by existing investors.  Nauticus anticipates executing a second tranche of investment, discussions for which are ongoing and aimed at providing funding for the year.   

The new investment shows continued support from existing stakeholders and is an integral component of several strategic activities initiated by the Company’s Board of Directors to optimize its operations and to improve its near and long-term financial viability.  This includes the engagement of a new executive management team, culminating in the promotion of John W. Gibson, Jr. to interim CEO on January 4, 2024.

“We currently have the intellectual property, prototypes, and the talent to deliver robust products and services,” said Gibson. “Team Nauticus is now laser-focused on converting our intellectual property, including both patents and trade secrets, into differentiated solutions that bring significant value to both commercial and government customers.  We are shifting from prototypes to creating reliable solutions for the blue economy.  We are pleased that our financing partners worked with us to address the ratchet provisions associated with earlier issued convertible securities, thereby enabling potential equity investment from others.  We appreciate the engagement of the Company’s Board in addressing earlier challenges, and, as a result of our recent changes, are excited about the year ahead.”

Gibson has over 35 years of experience in the energy and IT industries, including serving as President of Halliburton Energy Services.  He has served as the President of Nauticus since last October and on the Board of Directors since 2022. 

He is joined by Victoria Hay, the Company’s interim Chief Financial Officer, and Nicholas Bigney, the Company’s General Counsel, both of whom were appointed during Q4 of 2023.  JD Yamokoski, the Company’s long-time Chief Technology Officer, remains with Nauticus and rounds out the executive management team.

Hay has been a contracted CFO for several smaller private startups, and was previously the Senior Director of Global Accounting and Reporting Services at Weatherford International plc. 

Bigney has nearly 20 years of experience in the energy and infrastructure sector, with a background in complex financing and M&A and has been general counsel of both public and private companies.

Nauticus’ new finance and corporate structure enables the Company to realize its tightened strategic focus on providing proven and innovative solutions to the blue economy.  This focus includes working with oil and gas producers to improve subsea inspections in the near term and expanding into maintenance and repair with the next generation of Aquanaut autonomous undersea robots. Nauticus expects to be offshore certifying its new Aquanaut Mk2 vehicle beginning in early 2024, and, upon completion of the certification, anticipates transitioning to contracted operations at a deepwater field for a major oil and gas producer.

The Company’s Board hired Piper Sandler & Co. as its investment banking advisor to help facilitate the financing efforts and to assist in evaluating other strategic alternatives, including pursuing closing of the recently announced merger with 3D at Depth.

About Nauticus Robotics

Nauticus Robotics, Inc. develops autonomous robots for the ocean industries. Autonomy requires the extensive use of sensors, artificial intelligence, and effective algorithms for perception and decision allowing the robot to adapt to changing environments. Nauticus’ robotic systems and services are designed to address both commercial and government-facing customers. The company has targeted the Robotics-as-a-Service (RaaS) business model complemented by direct product sales of vehicles, components, and licensing of related software.  Nauticus has designed and is currently testing and certifying a new generation of vehicles to reduce operational cost and gather data to maintain and operate a wide variety of subsea infrastructure.

Cautionary Language Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Act”), and are intended to enjoy the protection of the safe harbor for forward-looking statements provided by the Act as well as protections afforded by other federal securities laws. Such forward-looking statements include but are not limited to: the expected timing of product commercialization or new product releases; customer interest in Nauticus’ products; estimated 2024 operating results and use of cash; and Nauticus’ use of and needs for capital. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends,” or “continue” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that may cause actual events, results, or performance to differ materially from those indicated by such statements. These forward-looking statements are based on Nauticus’ management’s current expectations and beliefs, as well as a number of assumptions concerning future events. There can be no assurance that the events, results, or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Nauticus is not under any obligation and expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports which Nauticus has filed or will file from time to time with the Securities and Exchange Commission (the “SEC”) for a more complete discussion of the risks and uncertainties facing the Company and that could cause actual outcomes to be materially different from those indicated in the forward-looking statements made by the Company, in particular the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in documents filed from time to time with the SEC, including Nauticus’ Annual Report on Form 10-K filed with the SEC on March 28, 2023 and Quarterly Report on Form 10-Q, filed with the SEC on August 14, 2023. Should one or more of these risks, uncertainties, or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. The documents filed by Nauticus with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov.

Important Information for Investors and Stockholders

This press release relates to a proposed transaction between Nauticus and 3DAD. It does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Nauticus intends to file a registration statement on Form S-4 with the U.S. Securities and Exchange Commission (the “SEC”), which will include a document that serves as a prospectus and proxy statement of Nauticus, referred to as a proxy statement/prospectus. A proxy statement/prospectus will be sent to all Nauticus stockholders. Nauticus will also file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of Nauticus are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction.

Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Nauticus through the website maintained by the SEC at www.sec.gov.

Participants in the Solicitation

Nauticus, 3DAD and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Nauticus’ stockholders in connection with the proposed transaction. A list of the names of the respective directors and executive officers of Nauticus and 3DAD and information regarding their interests in the business combination will be contained in the proxy statement/prospectus when available. You may obtain free copies of these documents as described in the preceding paragraph.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.

Media Contact:
Narwhal Media Group
Jennifer Gooding
[email protected]
Office: 646.981.0278

SOURCE Nauticus Robotics

NEW YORK, Jan. 9, 2024 — SCUBA Analytics, a trailblazer in the field of high-frequency data collaboration decision intelligence, is thrilled to announce the appointment of Marc Ryan as its Chief Product Officer. Marc is a seasoned expert with media and measurement expertise who most recently served as the Chief Data Officer at Kantar. 

“We are thrilled to have Marc join SCUBA to help drive modernization across leading brands and publishers as they enter a new privacy first era of audience insights and automation. The advertising industry simply needs a better way to convert signals into fast decision intelligence while protecting consumer privacy.” – said CEO Tony Ayaz.

Marc brings a wealth of experience to SCUBA Analytics, having carved a remarkable career path through leadership roles in some of the most respected firms in the industry. His expertise in navigating the complexities of the MarTech and AdTech Stack and his foresight on the impending challenges of 3rd party cookie depreciation positions him as a pivotal player in the evolving landscape of the advertising world.

“We’re at a critical juncture in the Advertising industry,” said Marc Ryan. “It’s an honor to join SCUBA Analytics, a company that’s adapting to these changes and leading the charge in innovative solutions. I look forward to contributing to the company’s growth and helping our clients navigate the complexities of today’s advertising landscape.”

About SCUBA Analytics
SCUBA is the only real-time data collaboration platform delivering AI-driven dynamic audience segmentation and advanced activation. Global brands like Microsoft, McDonald’s, Twitter, and Warner Bros trust SCUBA to gain in-the-moment insights into all customer interactions and seize every opportunity.

SCUBA is the only streaming data collaboration platform providing in-the-moment decision intelligence and activation without compromising privacy. Global brands like Microsoft, McDonald’s, Twitter, and Warner Bros trust SCUBA to gain in-the-moment insights across billions of touchpoints, fueling real-time experiences and growth. Founded by former Facebook executives and led by industry veterans from Kantar, Sonos, and Splunk.

Media Contact: Nick Sabean, SCUBA Analytics [email protected] 480.490.8597 www.scuba.io

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KENNEDY SPACE CENTER, Fla., Jan. 9, 2024 — The International Space Station (ISS) National Laboratory is soliciting flight concepts for technology development that would utilize the space-based environment of the orbiting laboratory. This solicitation, “Technology Development and Applied Research Leveraging the ISS National Lab,” is open to a broad range of technology areas, including chemical and material synthesis in space, translational medicine, in-space edge computing, and ISAM (in-space servicing, assembly, and manufacturing). It also encompasses the application of space station remote sensing data to improve geospatial analytics for commercial use.

Space-based technology development and demonstration is a strategic priority for the ISS National Lab, as it provides an opportunity for accelerated technology maturation that may enable advancements to improve life on Earth or build commerce in low Earth orbit (LEO). Through this research announcement, respondents may propose to use the unique environment of the orbiting platform to develop, test, or mature products and processes that have a demonstrated potential to produce near-term and positive direct or indirect economic impact.

Emphasis will be placed on proposals for testing and space-qualification of hardware prototypes and on advancing process improvements such as, but not limited to:

• Hardware prototype testing: Innovations addressing hardware product development gaps and emerging technology proliferation in the areas of electronics; semiconductors; nanotechnologies; robotics; sensors; and communications, remote sensing, computer, and satellite technology.
• Process improvements: Use of the space station as a test bed to advance the development of facilities for high-throughput investigations or to demonstrate new methodologies for spaceflight research and development, or the use of space-based data to facilitate modeling of industrial systems.
•  Advanced materials: Current advanced materials research that addresses the development of next-generation production methods, testing of novel materials, and the exploitation of materials with unique properties.
• Translational medicine: Validation of accelerated disease modeling, analyzing macromolecular structures for drug design, and demonstration of novel drug delivery and diagnostic services.

An example of a recent technology development investigation sponsored by the ISS National Lab is the updated Spaceborne Computer-2 from Hewlett Packard Enterprise, being prepared for launch on Northrop Grumman’s 20^th Commercial Resupply Services mission. This commercial off-the-shelf supercomputer has specifically designed software to protect it from harsh conditions and aims to reshape the trajectory of high-performance computing in space.

This research announcement will follow a two-step proposal submission process. Before being invited to submit a full proposal, all interested investigators must submit a Step 1: Concept Summary for review. The Center for the Advancement of Science in Space™, manager of the ISS National Lab, will host a webinar on January 18 at 1 p.m. EST to discuss space station facilities and capabilities associated with this research announcement. 

Step 1: Concept Summaries must be submitted by the end of day on March 4, 2024. Step 2: Full Proposals from those invited to submit will be due by the end of day May 7, 2024.

Flight concepts selected via this research announcement may be awarded funding to enable mission integration and operations support for projects that will be implemented on the space station.

To learn more about this opportunity, including how to submit a Step 1: Concept Summary, please visit the research announcement webpage. To learn more about the ISS National Lab and science that it sponsors, please visit our website.

To download a high-resolution photo for this release, click here.

About the International Space Station (ISS) National Laboratory:
The International Space Station (ISS) is a one-of-a-kind laboratory that enables research and technology development not possible on Earth. As a public service enterprise, the ISS National Laboratory^® allows researchers to leverage this multiuser facility to improve quality of life on Earth, mature space-based business models, advance science literacy in the future workforce, and expand a sustainable and scalable market in low Earth orbit. Through this orbiting national laboratory, research resources on the ISS are available to support non-NASA science, technology, and education initiatives from U.S. government agencies, academic institutions, and the private sector. The Center for the Advancement of Science in Space™ (CASIS™) manages the ISS National Lab, under Cooperative Agreement with NASA, facilitating access to its permanent microgravity research environment, a powerful vantage point in low Earth orbit, and the extreme and varied conditions of space. To learn more about the ISS National Lab, visit our website.

As a 501(c)(3) nonprofit organization, CASIS accepts corporate and individual donations to help advance science in space for the benefit of humanity. For more information, visit our donations page.

SOURCE International Space Station National Lab

NORWALK, Conn., Jan. 9, 2024 — LifeSpan Vision Ventures, an investment firm that specializes in funding longevity biotech breakthroughs, today announced an investment in Bolden Therapeutics, Inc. This biotechnology company is developing first-in-class therapeutics to promote neurogenesis for the potential treatment of central nervous system diseases.

Andrew Worden, Founding Partner at LifeSpan Vision Ventures, stated: “We’re excited to partner with Bolden Therapeutics and enthusiastic about the potential of their promising results in advancing treatment options for Alzheimer’s disease and other age-related neurodegenerative conditions. With a robust team and Scientific Advisory Board, we are eager to support Bolden’s mission to enhance the lives of millions affected by neurological diseases through the development of therapies that boost neurogenesis.”

“We are extremely excited to have Lifespan Vision Ventures as part of Team Bolden,” said Johnny Page, co-founder and CEO of Bolden Therapeutics, Inc. “The next several months are a crucial time for the company and Lifespan’s partnership represents a fantastic step towards achieving our goal of developing therapies to combat neurological diseases.”

About Bolden Therapeutics, Inc
Bolden Therapeutics is a biotechnology company developing first-in-class therapeutics to treat central nervous system diseases. The company’s scientific co-founders, Dr. Justin Fallon and Dr. Ashley Webb have identified a key molecular pathway to stimulate neural stem cells to promote the birth of new neurons (neurogenesis) in the adult brain. The company is currently working on antisense oligonucleotides for this genetically validated target, with candidates ready for in vivo efficacy testing.

Bolden’s research facilities are based within Tufts Launchpad | biolabs, a leading incubator for next-generation powerhouse biotech startups located in Boston, MA. Prior to moving to biolabs, Bolden was based at LabCentral and its tenure was supported by two ‘Golden Tickets’ from Biogen, providing the company with two years of sponsored laboratory space within that innovative ecosystem.

For more information, please visit: https://www.boldentherapeutics.com/

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

For more information, please visit: https://www.lifespanvisionventures.com/

Contact: Harry Robb, Analyst: [email protected]

SOURCE LifeSpan Vision Ventures

Groundbreaking Food-Tech Startup Secures $6.2M in Seed Funding — Wins Grow-NY Food & Ag Business Award

HUDSON VALLEY, N.Y., Jan. 9, 2024 — Mush Foods, the food-tech innovator behind a groundbreaking mushroom mycelium blend, today announced the launch of 50Cut, a unique line of chef-crafted mushroom root blends that improve nutrition and sustainability in ground beef, poultry, and fish dishes. Mush Foods utilizes a proprietary, highly efficient, and sustainable above-ground cultivation technique to rapidly grow a variety of culinary-grade mushroom roots. This US launch follows last year’s introduction for restaurants in Israel. 

The company, which raised $6.2 million in seed funding in 2023, was named a Grow-NY Food and Agricultural Business Competition winner, demonstrating Mush Foods’ readiness to help transform the U.S. foodservice and restaurant industry by helping reduce meat consumption. Chefs swapping the 50Cut mushroom root blends into recipes, in place of some of the meat, can seamlessly enhance flavor and nutritional value, while improving cost and reducing the environmental impact in every dish.

“We’re grateful for the enthusiastic and early recognition we’ve received and are thrilled to launch a line of outstanding mushroom root blends we think chefs will love,” said Mush Foods Culinary Director AJ Schaller. “The Mush Foods team has unearthed an epicurean treasure, poised to solve some of our most pressing environmental challenges in a stunningly simple and seamless way. We’ve crafted a product that can help reduce meat consumption while enhancing flavor, juiciness, and yields.” 

Mush Foods enters the market at a pivotal moment as nearly 1 in 4 consumers say they are attempting to cut back on meat. The ground meat category is estimated at $600 billion ($94 billion industry in the U.S. alone) while plant-based meat alternatives represent just 1.5% of the category.* Mush Foods is offering the market a flavor-first ingredient that gives chefs the culinary flexibility to meet evolving consumer needs.

The nutrient-dense mushroom root structure offers an umami-flavored, whole protein food source that sustainably boosts nutrition and flavor when blended into any dish:

Nutrition

• 100% natural wild mushrooms and mushroom roots
• Great source of dietary fibers including beta-glucan
• Complete protein with all nine essential amino acids
• Rich in potassium, iron, and calcium
• Dairy-free, gluten-free, and soy-free

Flavor

• Umami flavor addresses culinary needs and cravings for those eager to reduce, not eliminate meat entirely
• Mushroom root and meat-blended recipes retain the flavor and mouthfeel of traditional full-meat foods.
• 50Cut Blends are crafted from a mix of wild mushroom varieties to create precise moisture, binding, flavor, color, and texture matches for beef, poultry, and fish.

Environment

• Reducing the amount of meat in any recipe slashes the land, water and energy required for every dish.
• Grown in a proprietary above-ground, controlled, lightless environment, Mush Foods’ innovative, solid-state agricultural technology enables mushroom roots to grow in an astonishing 8 days.
• All Mush Foods’ crops are grown efficiently in substrates made from upcycled local food and agricultural waste.

Mush Foods closed a $6.2 million seed round earlier this year. “To be a category leader in this space, a company must provide great flavor, price parity, and nutritional value,” said Yael Alroy, partner at Viola Ventures, Israel’s leading tech investment group, which led the round. “Mush Foods stands out in its ability to meet all three.” Other prominent participants in the seed round included TKH, the food-tech incubator; US-based Siddhi Capital, which focuses equity on CPG food and beverage brands including Momofuku Foods, Hint Water and Ripple; and ARC IMPACT Ventures, a VC accelerator with significant environmental and social impact potential.

“The support of visionary investors propelled our entry to market, enabling us to empower restaurants and foodservices purveyors to address urgent supply and environmental needs with groundbreaking and great tasting menu options,” said Mush Foods CEO Shalom Daniel.

About Mush Foods

Founded by food industry veteran Shalom Daniel (CEO) and renowned mushroom researchers Dan Levanon (Ph.D., Agriculture) and Idan Pereman (Ph.D., Biology,) Mush Foods grows mushroom mycelium using a pioneering above-ground, agricultural process to produce a great-tasting, sustainable ingredient for the restaurant and foodservice industry. Mush Foods’ 50Cut Mycelium Mushroom Blends are available for use in meat, poultry, and fish dishes to reduce the percentage of animal protein needed while enhancing nutrition, flavor, and sustainability. The Mush Foods team includes Culinary Director AJ Schaller, top food technologists, agronomists, sustainability experts, chefs, and R&D and food engineers working together to bring the next generation of nutritious, plant-based solutions to the food industry. 

*Euromonitor international plant-based report 2021 | Fitch Solutions Macro Reports

GFI plant-based protein report 2022 |Gallup poll, 2020 (Sept. 16-30, 2019)

Media Contact: [email protected]

SOURCE Mush Foods

DALLAS, Jan. 9, 2024 — MEI Rigging & Crating, LLC (“MEI”), a portfolio company of Olympus Partners that provides rigging, machinery moving, millwrighting, mechanical installation, industrial storage, crating, and export packing services, announced today that it has acquired Able Machinery Movers (“Able”), based in Dallas.

Able Machinery Movers is a leading provider of turnkey machinery moving and rigging services through its five locations in Texas.  Founded in 1957, Able has built an industry-leading reputation for quality, reliability, innovation, and professionalism, delivering highly technical and customized solutions for high-value, mission critical equipment.

The acquisition announcement was made by Doug Dayton, CEO of MEI: “We are thrilled to welcome Able to the MEI family. This accomplishment is a win-win for both companies, which share similar core values including a deep commitment to our customers, employees, and safety. This dynamic partnership further strengthens MEI’s ability to deliver unparalleled services and solutions to our customers in Texas and across the country.”

The acquisition bolsters MEI’s operations in the Dallas-Fort Worth, San Antonio–Austin, and Houston markets. MEI also has operating locations in Arizona, California, Delaware, Georgia, Maryland, Massachusetts, Nevada, North Carolina, Ohio, Oregon, Pennsylvania, Utah, and Virginia.

Ben Miller, CEO of Able Machinery Movers, commented: “We are proud to combine our company’s abilities and experience with MEI and are excited to work alongside the MEI team to deliver our standard of excellence on a national scale. The combination of these two great companies will expand our collective resources and capabilities and ultimately create new opportunities for customers and employees.”

Sam Greenberg, Principal at Olympus, added: “Well before finalizing our initial investment in MEI, we identified a partnership with Able as our top growth priority. We are thrilled to commit additional capital to fund the transaction. Both companies have achieved incredible growth in the state of Texas, and we are excited to see what these teams can accomplish together.”

The Olympus team included Dave Cardenas, Sam Greenberg, George Swenson and Marty Durkin. Olympus was represented by James Faley and Kevin Stocks from Kirkland & Ellis LLP.

ABOUT MEI RIGGING & CRATING, LLC

MEI Rigging & Crating, a portfolio company of Olympus Partners, is a leading provider of rigging, machinery moving, millwrighting, mechanical installation, industrial storage, crating, and export packing services across the nation. MEI has a growing team of over 1,200 employees in eighteen operating locations across 14 states: Arizona, California, Delaware, Georgia, Maryland, Massachusetts, Nevada, North Carolina, Ohio, Oregon, Pennsylvania, Texas, Utah, and Virginia. With MEI’s comprehensive footprint and expansive portfolio, MEI serves customers across the country. For more information, visit MEI’s website at meiriggingcrating.com.

ABOUT OLYMPUS PARTNERS

Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for growth companies. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs. Founded in 1988, Olympus is an active, long-term investor across a broad range of industries including business services, food services, consumer products, healthcare services, financial services, industrial services and manufacturing.

SOURCE MEI Rigging & Crating, LLC

BOSTON, Jan. 9, 2024 — Via Scientific, Inc., developer of Via Foundry, the multi-omics platform that enables pharmaceutical companies, bio-techs and academic researchers to go faster in discovering novel biological insights, today announced the closing of $5m in funding led by G20 Ventures and Innospark Ventures. The syndicate also includes notable Life Science and AI Angel investors including Melissa J. Moore, former CSO of Moderna; Rob Hickey, Former EVP at DataRobot; and Janet Kosloff, Founder, and former CEO of InCrowd, Inc.

Unlocking the next generation of life sciences innovations will depend on researchers’ abilities to not just uncover new data, but to identify patterns at the intersection of multiple “omics” disciplines (i.e., genomics, proteomics, transcriptomics, epigenomics, etc.) and real-world evidence (e.g., phenotypes, clinical data, etc). Originally developed in the Bioinformatics Core at the University of Massachusetts Chan Medical School, Via Scientific’s revolutionary multi-omics platform enables researchers to study life in a concerted way, leveraging AI to analyze large scale, complex, and dynamic biological data to find novel associations between biological entities, pinpoint relevant biomarkers and pathways, and to identify markers of disease and physiology. 

“We live in an incredible time with breathtaking opportunities lying at the intersection of biology, artificial intelligence, and high-performance computing,” said Jim Crowley, co-founder, and CEO of Via Scientific. “From precision medicine to agriculture to climate change and beyond, Via Foundry is a living, breathing scientific ecosystem that empowers scientists to better understand and advance our collective and individual health, and the overall health of our planet’s global ecosystem.” 

Amplifying this vision, Alper Kucukural, co-founder CTO of Via Scientific and Associate Professor at UMass Chan Medical School, declared, “Our goal is to empower scientists to independently unravel the mysteries of biology. We’re committed to democratizing science through cutting-edge AI technologies. This strategy is pivotal in sparking groundbreaking innovations and propelling the pace of scientific discovery to new heights.”

The investment will enable Via Scientific to further accelerate its go-to-market activities, extend its existing library of hundreds of bioinformatic processes, pipelines, and AI models, and to expand its technology and scientific teams.

Mike Troiano, Partner at G20 Ventures said “Via Scientific is a game-changer in the biopharmaceutical landscape. Their ability to streamline and simplify complex multi-omics and real-world data analyses is what the world needs to save more lives sooner in the fights against disease, hunger, and climate change.” Matt Fates, Partner at Innospark Ventures added “The combination of the team’s scientific, AI and domain depth, along with their noteworthy customer traction was compelling and we are excited to partner with them on this journey.” Troiano and Fates will both join Via’s Board of Directors.

For additional information about Via Scientific and the Foundry platform, please visit www.viascientific.com.

About Via Scientific: Via Scientific is the developer of Via Foundry, the multi-omics platform that enables pharmaceutical companies, bio-techs and academic researchers to go faster in discovering novel and reproducible biological insights . The company is on a mission to advance biopharmaceutical research, providing researchers with the tools needed to explore new medical and healthcare solutions that can positively impact and change the world.

About G20 Ventures: Based in Boston, G20 Ventures is the capital partner that helps new businesses grow with smart money, great storytelling, and the right connections.

About Inospark Ventures: Based in Boston, Innospark Ventures is an early-stage venture firm investing in AI driven companies.

SOURCE Via Scientific, Inc.