-Gayatri Sarkar, fundadora y consejera delegada de Advaita Capital, nombrada patrocinadora heredera de la Princess Grace Foundation

BOSTON, 13 de marzo de 2024 — Advaita Capital, una firma de capital de riesgo en crecimiento que se especializa en inversiones en tecnología profunda y descarbonización, anuncia con orgullo que su fundadora y consejera delegada, Gayatri Sarkar, ha sido nombrada patrocinadora principal de la prestigiosa Princess Grace Foundation de EE.UU. Supervisada por Su Alteza Serenísima el Príncipe Alberto II de Mónaco (hijo de la Princesa Grace), la Princess Grace Foundation -EE.UU. se dedica a elevar a artistas de extraordinaria promesa en teatro, danza y cine a través de subvenciones innovadoras.

Este estimado reconocimiento destaca el compromiso de Sarkar con la filantropía, el mecenazgo y sus extraordinarios logros en los negocios y las finanzas. Gayatri Sarkar se une al estimado grupo de patrocinadores de la corona solo invitados que incluye al inversionista de capital privado y multimillonario John Paulson, inversionista de capital privado y secretario de la Marina durante la administración Reagan, John Francis Lehman, director de “Crazy Rich Asians”, Jon M. Chu, la socialité, filántropa y heredera editorial estadounidense Anne Hearst McInerney, la multimillonaria Lady Tina Green, directora de Taveta, propietaria mayoritaria de Taveta Investments Ltd, la empresa matriz del Grupo Arcadia, el actor y cantante Leslie Odom Jr. y algunos otros dignatarios conocidos mundialmente.

Sarkar declaró, “Es verdaderamente un honor unirme a una lista tan exitosa de patrocinadores dedicados a fomentar la creatividad y la excelencia entre los artistas emergentes. Espero trabajar estrechamente con la fundación para ampliar su alcance e impacto entre los talentos que lo merecen”.

Sarkar aporta una gran experiencia y logros como patrocinadora de la corona. Su experiencia abarca las industrias de tecnología y finanzas, comenzó su carrera técnica en Hewlett Packard, IBM y posteriormente en Goldman Sachs y luego trabajó en el Banco de la Reserva Federal gestionando activos de proyectos del Tesoro de EE.UU. en el ejército y la Marina de EE.UU. También es una emprendedora en serie y anteriormente fundó dos nuevas empresas. Fue nombrada líder global menor de 40 años por su defensa de género presentando administradores de activos institucionales en inversiones de capital de riesgo a través de su podcast She-VC.

Advaita Capital es una empresa de capital de riesgo en crecimiento, propiedad 100% de mujeres POC. Advaita Capital cuenta con un equipo de doctores de Harvard, doctorados del MIT, estudiantes universitarios de Yale, ingenieros de Wharton y ex directores de operaciones de grandes empresas de gestión de activos. Al aprovechar un amplio conocimiento de la industria, Advaita Capital invierte entre 10 y 50 millones de dólares o más, apoyando a empresas emergentes extremadamente atípicas y a emprendedores visionarios. Las áreas de inversión abarcan la IA generativa, los semiconductores, la robótica, el almacenamiento de energía y la infraestructura de descarbonización a gran escala. Entre las empresas de cartera de alto perfil de Advaita Capital se encuentran Stripe, Epic Games, Cohere y Neuralink, lo que ilustra el buen ojo de la empresa para la innovación y el potencial transformador.

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DUBENDORF, Switzerland , March 13, 2024 — Odne Ltd, a Swiss dental start-up company and upcoming innovator in endodontic treatments, is pleased to announce the closing of its Series A1 Financing Round raising USD 5.5 million (CHF 4.8 million) to fund the upcoming US market launch. Odne’s game-changing technology platform for Root Preservation Therapy (RPT) is expected to transform endodontics. The Odne RPT workflow introduces three new medical devices enabling minimal invasive root canal cleaning and light-cured obturation. 

The Series A1 round is led by Revere Partner (NY), an independent venture fund providing capital for cutting-edge innovations in oral and systemic health, and NV Capital (LIE), a family-owned venture capital boutique. Alongside the lead investors several other renowned funds such as Dental Innovation Alliance (DIA), Plug&Play, Hatcher, Züricher Kantonalbank, as well as various family offices and angel investors are backing Odne`s US market launch.

“With over 15 million root canal treatments per year, the US is the biggest market worldwide and our number one focus. Currently, we are performing a Priority Access Program to deepen the use of our products with selected US key opinion leaders. At the annual meeting of the American Association of Endodontists (AAE) in April, in Los Angeles, we will introduce the Odne RPT workflow solution to the endodontic community,” states Dr. Andreas Schmocker, CEO & Co-Founder, Onde.  

“Odne is within the core investment focus of Revere Partners: innovations in oral health. After receiving FDA clearance for Odne™Cure and Odne™Fill in 2023 the series A1 financing fuels Odne`s US market launch to the endodontic community. Together with all investors, Revere Partners is proud to elevate Odne`s RPT workflow for the benefit of patients, endodontists, and the referring general dentists,” adds Dr. Jeremy Krell, Managing Partner, Revere Partners.  

To serve the US endo specialist market, Odne has recently founded Odne Inc, USA. The team of Odne is evolving, incorporating experienced and well-connected dental experts, building training, service, marketing, and sales.

About Odne

Odne (Onde Ltd and Odne Inc) is a Swiss-US dental startup. that has its roots in a groundbreaking collaboration between two renowned universities: the Swiss Federal Institutes of Technology in Lausanne and Zürich (EPFL & ETH Zürich). Founded in 2018, Odne`s journey began by licensing cutting-edge technology assets from these esteemed institutes.

Odne represents a harmonious synergy of Swiss precision and academic excellence. Our company is committed to pioneering the future of endodontics through advanced technology and innovative solutions. Endodontics, the field of dental medicine that deals with root canal treatments, has been marred by complexity and unpredictability. Odne AG is on a mission to change that.

Root canal treatments have long posed challenges for dentists, with traditionally low success rates ranging from 46% to 91%. With over 60 million annual treatments worldwide, these failures result in significant healthcare costs.

Odne’s technology platform addresses these issues by offering treatment options for both, dentists and their patients. Our products, slated for launch in 2024, tackle problems such as debridement and obturation in complex root canal morphologies.

About Revere Partners

Revere Partners is the first and only venture capital fund globally focused on investing in oral health technology. Revere invests in cutting-edge and innovative dental technology companies that improve the lives of dental patients and providers through advancements in science and technology. Revere Partners invites new accredited investors to join the fund and enables startups to connect with unrivaled industry resources and growth opportunities. Founded by Dr. Jeremy Krell and David Arena, Revere Partners fosters strategic partnerships that improve care delivery as well as patient and provider experiences – maximizing value for investors. To learn more visit www.reverepartnersvc.com or on LinkedIn.

About NV Captial

N & V Capital is a family-owned venture capital boutique focused on European investments in various sectors such as Fintech, MedTech, and Digital Health. With generations of entrepreneurial experience, N & V seeks scalable ventures driven by technology or scientific progress. The boutique brings its own entrepreneurial experience to the table and offers its extensive network and expertise to visionary founders seeking sustainable growth for their companies. Although N & V Capital invests up to Series A, the main focus is on early-stage investments.

Disclaimer: Odne™Fill and Odne™Cure are cleared for use in the U.S.A only. All other Odne devices are currently in development and have not received clinical approval in any jurisdiction.

Odne`s technology platform for root canal debridement and obturation including: the first hydro-dynamic cavitation device using saline as main debridement medium, and the first FDA cleared highly flowable, light-cured obturation material.

For further information contact: 
Holger Essig, General Manager / Head of Global Marketing
Odne AG, Ringstrasse 14, 8600 Dübendorf, Switzerland
[email protected]
www.odne.co

SOURCE Odne Inc.

Oversubscribed round propels company towards clinical trials and global market expansion, promising to extend organ preservation times and revolutionize healthcare.

SAN FRANCISCO, March 13, 2024 — X-Therma Inc., a biotechnology company developing a breakthrough platform for regenerative medicine and organ preservation, has completed an oversubscribed $22.4 million Series B funding round. The investment enables X-Therma to scale global commercial operations and facilitates the company’s progression into the clinical stage with Food and Drug Administration (FDA) Breakthrough Device status, aimed at significantly increasing organ availability for transplantation by overcoming time-sensitive limitations.

The investment will advance multiple key products in X-Therma’s development pipeline: XT-Thrive® and XT-NoVo^TM for regenerative medicine and cell therapy and XT-ViVo® & TimeSeal® for organ preservation for transplantation. XT-ViVo® & TimeSeal® received FDA Breakthrough Device designation, which is given to products that have the potential to offer more effective diagnosis or treatment of life-threatening diseases with an unmet medical need.

“This funding marks a pivotal moment as we prepare to launch our GMP-grade cryopreservation and cold-chain solutions into the commercial market, responding to growing demand in Cell and Gene Therapy and bioprocessing,” says Dr. Xiaoxi Wei, Ph.D., Co-founder and Chief Executive Officer of X-Therma. “It also propels us to the forefront of organ transplantation innovation, with our emerging products that could eliminate time as a critical constraint, with the potential to save millions of lives.”

“Designed as a foundational building block for living medicines, our platform promises to accelerate the development of tailored solutions for critical health care challenges and next-generation treatments,” continues Dr. Wei.

The round was co-led by new investor Starling Locke Capital, fully supported by Series A lead investor, LOREA AG, along with participation from new and existing investors.

“Despite the capital winter challenging the life sciences sector, X-Therma stands out with its exceptional resilience and potential. Finalizing its second oversubscribed round, X-Therma has clearly demonstrated its compelling value to investors and the health care ecosystem,” says Johannes Weggemann, Managing Director at LOREA AG.

“I’ve witnessed firsthand the evolution of biotech,” says the Hon. Jim Greenwood, who represented Pennsylvania’s Eighth Congressional District from 1993-2005, and served as President and CEO of the Biotechnology Innovation Organization (BIO) for 17 years. “As a member of X-Therma’s board and an investor myself, I’m confident X-Therma is poised to revolutionize organ transplantation and regenerative medicine.”

“The market’s response validates our belief in X-Therma’s technologies and their potential to revolutionize not only organ transplantation, but also to extend global organ sharing beyond what was once deemed possible,” concludes Dr. Wei. “We are ready to get our products to customers and patients and begin getting more organs to patients around the globe. You have time.”

XT-Thrive®: Advancing Regenerative Medicine and Cell Therapy
X-Therma’s XT-Thrive® enables non-toxic cryopreservation for life-saving regenerative medicines such as vaccines, cell and gene therapies, and engineered tissues. XT-Thrive® is a DMSO-free, serum-free, protein-free, and chemically defined cryopreservation media for the preservation of mammalian cells at ultra-low temperatures (-70° C to -196° C). Designed and manufactured with the utmost quality in mind, XT-Thrive® is tailored to provide high cell recovery and functionality. It is a non-toxic and hyper-effective alternative to traditional cryopreservatives and is plug and play for cell and tissue manufacturing processes.

XT-NoVo^TM & TimeSeal®: A Turnkey Solution for Regenerative Medicine
X-Therma’s XT-NoVo^TM non-toxic, serum- and protein-free preservation solution and TimeSeal® smart sensor tissue and cell transporter allow for a significant extension in shelf-life of precious cell-based starting materials and finalized products at sub-zero temperatures at -5°C without freezing. Biologics can be stored for up to 7 days, even certain sensitive cell types that usually exhibit a 1–2-day shelf life. This can alleviate the burden to coordinate rapid shipping of products and open the path for a cost-effective cold chain. TimeSeal® contains integrated and intelligent sensor technology that transmits real-time data not limited to temperature and location of the shipped biologics. No extras such as blood, oxygen, or external power supply are required.

XT-ViVo® & TimeSeal®: Setting New Standards in Organ Transplantation
X-Therma’s XT-ViVo® organ preservation solution and TimeSeal® Organ Transport Device could enable multi-day preservation to remove time from the equation using static storage and tried and true techniques well-practiced by every surgeon. This solution prevents damaging ice crystal formation during organ preservation at subzero temperature while supporting reduced metabolism and reduced ischemic damage to the organ. TimeSeal® is a smart, portable, and easy-to-use transporter to safely and consistently transport organs. With its smart sensor technology, the organ can be tracked during transport with optimum temperature stability. TimeSeal® doesn’t require any external power, perfusion, oxygen, or blood to keep the organs and tissues alive. The FDA designated XT-ViVo® & TimeSeal® Breakthrough Device Designation for an intended kidney preservation and storage time of up to 120 hours. The products also have the potential to be used in other organ and tissue applications.

About X-Therma Inc.
X-Therma Inc. is pioneering breakthrough cold chain technology via a convergent biopreservation platform, to advance regenerative medicine and make available safe and on-demand organs, engineered tissues, cell and gene therapies, vaccines, and beyond to patients in need. Headquartered in Hercules, part of the San Francisco Bay Area and an expanding presence in Austria, X-Therma’s technology is poised to become a paradigm shift that enables worldwide organ sharing and eliminates organ waiting lists across the globe.

For press inquiries, please contact:
[email protected]

SOURCE X-Therma Inc.

NEW YORK, March 13, 2024 — Jukebox Health, the premier national provider of clinically-led home modifications, proudly announces a strategic investment from Home Depot Ventures. This investment marks a significant stride toward making affordable and accessible housing a reality for people aging in place across the country.

As an unprecedented 10,000 people turn 65 every day, America faces a considerable challenge – only 6% of homes are designed to support safe, independent aging. Unsafe housing leads to falls, reliance on caregivers, and even relocation to institutional living. Amidst a growing population and rising costs, the burden to the healthcare system is already approaching $100B per year.

Jukebox Health addresses this complex problem by bringing together its national networks of vetted occupational therapists and contractors. After visiting a patient’s home, clinicians present their recommendations on the company’s digital home modification platform. Patients and their families can make decisions and view sponsorship from their insurance company before dispatching one of the company’s local installation partners to complete the work. 

“We are incredibly excited to have Home Depot Ventures as a strategic investor. Having the largest brand in home improvement validate our mission speaks to just how important and universal the issue of aging in place has become,” said Romanos Fessas, CEO of Jukebox Health. “Together, we are poised to make a lasting impact on the healthcare and home improvement landscape, ensuring individuals can age at home with dignity and independence.” 

This investment will support Jukebox Health and its innovative work to make independent living available to as many people as possible. With customers in 38 states and counting, the company is tackling the enormous challenge facing all Americans – the US must modify 30 million homes to keep pace with its aging population. The team is committed to reshaping the landscape of home modifications, ensuring that homes across the nation become safe and accessible for everyone.

About Jukebox Health
Jukebox Health helps older adults and high-need populations thrive in their homes with clinically-led home modifications and comprehensive environmental services. The company partners with payers and at-risk providers, leveraging its technology platform and national networks of vetted occupational therapists, accessibility product suppliers, and installers. The company was founded in 2020 by experienced entrepreneurs who have built businesses acquired by Angie’s List, Anthem, and Softbank and backed by The Home Depot, Primary Ventures, Mosaic General Partnership, and Meridian Street Capital.

For more information on Jukebox Health, visit https://jukeboxhealth.com/.

Media Contacts:
Allison Del Fium
Head of Marketing
[email protected]

SOURCE Jukebox Health

BOSTON, March 13, 2024 — Advaita Capital, a growth venture capital firm specializing in deep tech and decarbonization investments, proudly announces its founder and CEO, Gayatri Sarkar, has been appointed as a crown patron for the prestigious Princess Grace Foundation of USA. Overseen by His Serene Highness Prince Albert II of Monaco (Princess Grace’s son), the Princess Grace Foundation-USA is dedicated to elevating artists of extraordinary promise in theater, dance, and film via game-changing grants.

This esteemed recognition highlights Ms. Sarkar’s commitment to philanthropy, patronage, and her extraordinary achievements in business and finance. Gayatri Sarkar is joining the esteemed group of invite only crown patrons that includes private equity investor and billionaire John Paulson, private equity investor and secretary of the navy during the Reagan administration John Francis Lehman, director of “Crazy Rich Asians,” Jon M. Chu, American socialite, philanthropist, and publishing heiress Anne Hearst McInerney, billionaire Lady Tina Green, director of Taveta, the majority owner of Taveta Investments Ltd, the parent company of the Arcadia Group, actor and singer Leslie Odom Jr. and few other world known dignitaries.

Ms. Sarkar stated, “It is truly an honor to join such an accomplished roster of patrons devoted to fostering creativity and excellence among emerging artists. I look forward to working closely with the foundation to expand its reach and impact among deserving talents.”

Ms. Sarkar brings a wealth of experience and accomplishments as a crown Patron. Her expertise spans technology and finance industries, she began her technical career at Hewlett Packard, IBM, and subsequently at Goldman Sachs and later worked at Federal Reserve Bank managing US Treasury project assets in US military and US Navy. She is also a serial entrepreneur and founded two startups before. She was named Global Leader under 40 for her gender advocacy featuring institutional asset managers in venture capital investment through her She-VC podcast.

Advaita Capital is a growth venture capital firm, 100% women-POC-owned. Advaita Capital has a team of Harvard PhD, MIT PhD, Yale undergrad, Wharton engineers and former COOs of large asset management firms. By leveraging extensive industry knowledge, Advaita Capital invests $10-$50M+, supporting extreme outlier startups and visionary entrepreneurs. Investment areas encompass generative ai, semiconductors, robotics, energy storage, and large-scale decarbonization infrastructure. Among Advaita Capital’s high-profile portfolio companies are Stripe, Epic Games, Cohere, and Neuralink, illustrating the firm’s keen eye for innovation and transformative potential.

SOURCE Advaita Capital

WASHINGTON, March 13, 2024 — Washington, D.C-based software company Goodshuffle announced its Series A investment of $5MM from FINTOP Capital.

“We were amazed to see what Goodshuffle has achieved with so little funding historically. It’s a true testament to the strength and discipline of this team and their understanding of the events industry.” –Brittani Roberts, Principal, FINTOP Capital

Goodshuffle intends to use the funds to hire more talent and further build out its already robust all-in-one event business management software, Goodshuffle Pro. It also plans to launch new, innovative solutions to some of the biggest problems faced by event business owners.

One of Goodshuffle’s primary focuses in the new year is further tackling the complex logistics behind event businesses. Garcia recently spoke at Manifest, a premier logistics and supply chain conference, to kick off an instrumental overhaul for businesses who often metaphorically “move mountains” to tackle multiple weekend events.

“We’re getting some long-planned features over the finish line, and hiring more teammates to build out the next phase of our offerings for 2024 and beyond.” –Andrew Garcia, CEO, Goodshuffle

It’s a full-circle moment for the CEO and Co-founder, whose original logistical challenge of renting out gear as a college DJ planted the initial seed that became Goodshuffle.

He and Co-founder Erik Dreyer started the business with an online rentals marketplace (Goodshuffle.com). The duo quickly realized that the industry faced unique challenges and lacked robust business software, which is when they moved their focus to building Goodshuffle Pro, an all-in-one vertical SaaS solution. Joined by Founding Team Member Karen Gordon in 2017, they soft-launched later that year and officially premiered the platform in January 2018.

Goodshuffle Pro became an instant category leader by taking an innovative approach to solving complex problems, boasting a steady 4.9-out-of-5 rating on software rating platform Capterra.

Even when the events industry took a severe hit during COVID-19, Goodshuffle quickly expanded its online shopping capabilities and educational resources, which helped the company grow despite the challenges of the pandemic.

“We always had the vision of further enabling the online shopping experience for these businesses. The pandemic created an urgent need to expedite those features. It was a difficult timeline, but ultimately an accelerator to a component of our long term plans.” –Erik Dreyer, Co-founder, Goodshuffle

In addition to its stellar reputation with its software users, Goodshuffle has built an excellent reputation as a workplace. Its unique culture has become a talent magnet, attracting team members across eight states and Canada. The company has won DC’s Best Startup twice and been ranked among DC’s Best Places to Work.

“We got this far by having the right people on our team, so we’re all in agreement that hiring more stellar talent to join us is our most crucial next step.” –Karen Gordon, EVP & Founding Team Member

Its open positions can be found on the website.

ABOUT GOODSHUFFLE PRO
Goodshuffle Pro is software built specifically for the event rental and production industry. The platform is a one-stop-shop to easily track inventory, automate sales, and empower growth. Streamline the chaos of the events world through online invoices, contracts & payments, inventory tracking & conflict detection, CRM tools, task management, and more.

ABOUT FINTOP CAPITAL
FINTOP Capital is a venture capital firm focused on early-stage FinTech companies. With over $700 million in committed capital across five funds, FINTOP brings decades of FinTech founding and operating experience to the board room, partnering with innovative entrepreneurs to push the frontiers of the financial services sector.

Media Contact: Brian Leigh, [email protected]

SOURCE Goodshuffle

IO River effectively turns multiple CDNs into one consistent network, ensuring all users get the best, most cost-effective content experience.

TEL AVIV, Israel, March 13, 2024 — IO River (https://www.ioriver.io) exited stealth today and announced $5.4M in funding for the first multi-CDN-as-a-Service platform on the edge. The seed round was led by S Capital with the participation of other investors, including Aryeh Mergi (co-founder of XtremIO, M-Systems and Jeeng) and Ronni Zehavi (co-founder of HiBob and Cotendo). IO River enables online services companies to operate effectively across multiple edge platforms, achieving top performance, reliability, and cost efficiency with no additional layer or latency. The platform already serves more than 100 petabytes of traffic a month.

Today, Internet companies use a content delivery network (CDN) to ensure that users around the world can access content quickly and cheaply. The CDN market is dominated by a few big players, which have variable pricing, capabilities and performance depending on the region. A single network is also a single point of failure in case of an outage, leading some companies to explore using multiple edge networks instead of just one CDN vendor. However, this is very difficult with existing tools, forcing organizations to manage each service separately.

“The largest content providers in the world don’t rely on a single content delivery network,” said Michael Hakimi, co-founder and CTO of IO River. “They use multiple edge vendors, managed by fancy in-house tools to improve cost and performance. We wanted to bring that capability to everyone.”

IO River is the first complete, holistic platform for managing multiple edge platforms, ensuring that users get the fastest, most cost-effective content served automatically by the optimal edge locations. IO River ensures Five Nines (99.999%) availability, improves performance by up to 50% and reduces delivery costs by up to 40%. 

IO River provides a unified user interface and API for configuring and controlling multiple edge networks, making them feel like a single super-network. Organizations can easily bring their existing providers into IO River, and add additional vendors without going through complicated migration and configuration processes. Companies can choose which edge network to use for different users, defining rules that optimize performance and cost based on the user location, type of traffic and other factors. Uniquely, IO River also offers consistent application services in a unified layer across multiple edge vendors, including web application firewall (WAF), rate limiting, traffic control and edge computing.

IO River was founded by Edward Tsinovoi and Michael Hakimi, two veterans of leading CDN company Akamai. The company, based in Tel Aviv, is an alumnus of the Intel Ignite deep tech accelerator program.

“Internet-based companies live and die by their content delivery,” said Haim Sadger, co-founding partner of S Capital. “They start losing sales if their sites are down for just a few minutes or if their content is slow and unreliable. But equally, with increased financial pressures, data costs are a massive proportion of companies’ outgoings. The classical approach of using a CDN doesn’t solve all these problems. IO River is offering a modern solution that meets the needs of the market, and we’re excited to invest in Edward and Michael’s deep expertise and understanding of how to deliver internet content to the world.”

Edward Tsinovoi, co-founder and CEO of IO River, said “Every edge provider has its unique benefits. But customers should be able to take advantage of all of the benefits without being locked into a single provider. IO River gives organizations the best blend of speed, reliability and cost, all in one place in a simple, single context that lets organizations run multiple edge networks as if they were managing just one.”

SOURCE IO River

Company’s innovative approach enables high-quality natural algae astaxanthin production at faster and more affordable rates

New funding will support company plans to reach commercialization this year

HONOLULU, March 13, 2024 — Kuehnle AgroSystems (“KAS”), a leading microalgal innovation and production company, today announced that it has raised a $3 million Series A2 funding round led by S2G Ventures. The funding will accelerate the commercialization of KAS’s pioneering method for producing natural astaxanthin from microalgae, a key component in sustainable aquaculture systems as well as a clinically proven human nutraceutical.

KAS has patented an innovative process that uses dark fermentation in closed vertical tank systems to produce high-quality natural algae astaxanthin. Utilizing a more sustainable feedstock and production method than current natural and synthetic astaxanthin production methods, KAS’s process results in lower production costs, higher yields, faster growth times, and less water and energy consumption.

Astaxanthin is a carotenoid with antioxidant properties present in natural aquatic algae, which is consumed by salmonids and shrimp and gives these species their characteristic red color. In aquaculture systems, which produce over 50% of the seafood we eat globally, astaxanthin is incorporated to provide similar pigments. However, 95% of astaxanthin currently used in aquaculture feed is synthetic and derived from petrochemicals. KAS aims to replace synthetic with natural algal astaxanthin, addressing a market that is estimated to be valued at around $3.7 billion.

“Strong consumer preference for natural inputs is expected to accelerate the transition from synthetic to natural astaxanthin,” said Claude Kaplan, chief executive officer of KAS. “With our ability to generate greater astaxanthin output volumes, quicker and at a reduced cost compared to light-dependent methods, this funding strongly positions KAS to respond to the rapidly expanding needs of the market.”

“KAS’s fermentation breakthrough, natural strain development process, and sustainable production method all have the potential to transform the natural astaxanthin market, a key input for more sustainable aquaculture practices that can drive better outcomes for people and the planet,” said Larsen Mettler, Managing Director at S2G Ventures. “We are proud to be part of KAS’s journey and look forward to supporting the impact they are poised to make in the market.”

Existing backers of KAS include Aqua-Spark, Hatch and Cavallo Ventures.

“We continue to be impressed by the KAS team’s capacity to leverage their scientific and commercial knowledge to produce a truly innovative solution for replacing synthetic with natural astaxanthin,” said Lissy Smit, CEO at Aqua-Spark. “As the aquaculture industry continues to grow at a rapid pace, we need more companies like KAS that are solving core challenges in the value chain to ensure our food system is healthier and more sustainable for consumers and the planet.” 

KAS will initially launch with its European-based production partner with the capacity to distribute globally. This new funding will enable KAS to exploit its ability to use standard fermentation equipment, to swiftly expand production through leveraging contract manufacturers, with the option to bring production in-house in the future. And while KAS’ process is inherently more resource efficient than competitors, the company’s technology also holds future potential for recycling the gas generated during fermentation to produce feedstock to be fed back into the fermentation process creating fully circular algal products.  

About KAS:
Kuehnle AgroSystems, Inc. (KAS), founded in 2007, is a Hawaii-based microalgae development company with a world-class team of professionals. KAS uses its extensive library of Hawaiian microalgal strains to research, develop and produce specialty chemicals and raw materials to make life better.  Our customers include multinational corporations along with valued regional companies and brands that require sustainable plant-based ingredients for animal feeds, human health, food, and personal care. Industrial fermentation allows our ingredients to be cultured at lower cost with highest efficiency and quality, and enables rapid access to markets by ourselves and our partners. Learn more at kuehnleagro.com.

About S2G Ventures:
S2G Ventures partners with entrepreneurs who are working on solutions to some of the world’s greatest challenges across the food, agriculture, oceans, and energy markets. The firm provides capital, mentorship, and value-added resources to companies pursuing innovative market-based solutions that generate positive social, environmental, and financial returns. S2G structures flexible capital solutions that can range from seed and venture funding through growth equity to debt and infrastructure financing. For more information about S2G, visit s2gventures.com or connect with us on LinkedIn.

Media Contact:
Chelsea Hokenson
[email protected] 

SOURCE Kuehnle AgroSystems

COPENHAGEN, Denmark, March 13, 2024 — Global Fashion Agenda (GFA), a non-profit organisation accelerating the transition to a net positive fashion industry, has collaborated with PDS Ventures, the innovation and investment arm of PDS Limited, to launch a new Trailblazer Programme. The new initiative seeks to identify fashion’s most promising early-stage innovators and support them on their journey to scale.

As part of the Trailblazer Programme, PDS Ventures will award one innovator a significant investment of up to USD 200,000 to accelerate the company’s growth and positive impact in the fashion industry. The winner will also receive commercial and operational support from PDS Group’s Positive Materials – a textile company and strategic research partner supporting the development and acceleration of low impact textile innovation through collaboration between early-stage start-ups, supply chain partners and brands. Further scaling opportunities will be gained through access to PDS Limited’s extensive global supply chain.

GFA and PDS Ventures are presenting an open call for solution providers addressing different challenges across the fashion value chain to apply for the programme. Applicants will be reviewed and shortlisted by an esteemed Jury including representatives from GFA, PDS Ventures, Massachusetts Institute of Technology (MIT), Ralph Lauren Corporation, Fashion For Good and H&M Group. Eight shortlisted innovations will be enrolled in a group of Trailblazers, receiving feedback and investment pitch training from industry experts and PDS representatives.    

Each shortlisted innovator will then pitch for a potential investment, with the winning Trailblazer being revealed at GFA’s Global Fashion Summit: Copenhagen Edition 2024 – the leading international forum for sustainability in fashion, on 22-23 May at the Copenhagen Concert Hall. All shortlisted Trailblazers will also have the opportunity to showcase their businesses within an exhibit at the Summit to connect with other key industry stakeholders and potential investors.

The Trailblazer Programme corresponds with the theme of the upcoming Global Fashion Summit – ‘Unlocking The Next Level’. Inspired by a significant milestone, 2024 marks 15 years since the inaugural Global Fashion Summit was hosted in 2009. This pivotal anniversary offers a special moment to not only take stock of the evolution of the sector and the progress made so far, but, most importantly, look ahead at what actions must urgently be implemented in the near term, and the gaps that must be filled to accelerate industry transformation.

Federica Marchionni, CEO, Global Fashion Agenda, says: “Innovation is a fundamental component to transforming the current fashion system to one that benefits people and the planet. Yet, to truly achieve impact at scale, innovation and investment go hand-in-hand. In a time of significant economic challenges, it is more important than ever that the fashion ecosystem prioritises investment in early-stage solutions so that we can bring them to fruition and make them last. Through this programme and the support from PDS Ventures, GFA is striving to help innovation thrive.”

Pallak Seth, Founder and Executive Vice Chairman, PDS Limited, says: “We are incredibly proud to partner with the Global Fashion Agenda to establish the Trailblazer programme. There has never been a more urgent time than now for true industry support for climate-first innovators with, not only financial investment but most crucially, mentoring and support to unlock the scaling potential of early-stage innovators. At PDS Ventures we are committed to supporting young pioneering businesses and have had the privilege of working with some of the most exciting start-ups from their earliest days accelerating their mission to make a positive impact in the fashion industry.”

Early-stage innovators can apply to participate in the programme now. View the criteria for applicants. Applications close on 31 March. 

For more information contact [email protected]

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https://news.cision.com/global-fashion-agenda/r/unlocking-the-next-level–new-funding-programme-aims-to-scale-fashion-innovation,c3941656

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