SINGAPORE, March 13, 2024 — OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced its leading role in the latest investment round of UXLINK. UXLINK is a Web3 social platform that combines a Web3 gateway, social DEX and infrastructure with the goal of facilitating mass adoption.

UXLINK is the first SocialFi application that effectively connects the trust users have in real-world relationships with decentralized applications, by utilizing Web3 “UXGroups” on Telegram. As the first trust-focused platform in the Web3 space, UXLINK facilitates the transition from Web2 to Web3, fostering unity and empowering the creation of social assets and social trading.

To date, UXLINK has successfully onboarded 3.5 million registered users. In addition to OKX Ventures, the platform has also secured investments from high-profile venture capital firms such as ZhenFund, HongShan and MatrixPort Ventures.

OKX Ventures Founder Dora Yue said: “UXLINK is a game-changer in the Web3 social infrastructure space; the project has rapidly developed through its ‘acquaintance social’ and ‘group’ model. In just 10 months since its launch, it has attracted millions of users, highlighting the fast growth and effective spread of this model. Recently, the platform’s ‘Link to Earn’ feature has drawn in most new users. This innovative concept merges social networking and transactions, creating a robust ecosystem where people can fully leverage their digital assets. We believe UXLINK will effectively bridge the vast user base of Web2 with the Web3 world.”

For further information, please contact:
[email protected] 

About OKX Ventures
OKX Ventures is the investment arm of leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD 100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.

Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.

Find out more about OKX Ventures here.

Disclaimer

SOURCE OKX Ventures

NEW YORK, March 12, 2024 — WealthFeed Inc (“WealthFeed”), the cutting-edge AI-powered organic growth platform for Financial Advisors, proudly announces the successful closure of a $2 million funding round. Strategic investors include Thicket Ventures and executives from the Registered Investment Advisor (RIA), Investment Banking and Private Equity sectors. Concurrent with the investment, Justin Wisz and Joe Jolson will join WealthFeed’s Board of Directors. The round reflects the confidence that industry leaders have placed in WealthFeed’s distinctive value proposition, and is poised to drive the platform’s growth initiatives, further enhancing its use of predictive analytics and artificial intelligence to assist Financial Advisors in expanding their market footprint.

WealthFeed, the financial services spin-off of Catalyze AI which has served over 1,700 real estate and financial services customers, provides an AI-powered Money-in-Motion platform empowering Financial Advisors to grow their book of business, increase client retention and grow wallet-share with current clients. The platform boasts a dynamic money-in-motion prospect database, offering Advisors extensive filtering capabilities to identify high-converting prospect opportunities, in real time. Additionally, the WealthFeed platform enables Advisors to enrich their current client/prospect database with financial data, contact information, and other impactful insights, allowing them to prioritize and convert prospects at a higher rate. Lastly, the AI-powered platform provides Advisors with real-time alerts of money-in-motion taking place within their current client base, enhancing client retention and asset aggregation opportunities.

“The trust demonstrated by our investors validates the exciting potential of our WealthFeed platform. This funding milestone fuels our mission to equip Advisors and enterprises with a platform that harnesses the power of artificial intelligence and big data to help grow their book of business, increase client retention, and grow wallet-share with current clients. Everyone in wealth management recognizes that ‘money-in-motion’ sparks asset gathering opportunities, yet historically, no scalable means existed for capturing these moments. WealthFeed solves this by leveraging advanced analytics and AI to empower Advisors to not only identify high-converting prospects experiencing liquidity events in real time, but also enrich their current contacts with valuable information and monitor existing opportunities within their book of business,” said WealthFeed’s Co-Founder and CEO, Sam Kendree.

“This capital round gets us one step closer to providing every Advisor with a toolkit of solutions to help solve organic growth problems that have existed for decades,” comments Kendree. “We set out to democratize AI and big data within the Financial Advisory space, from the one-person IBD shops to the national RIAs, enabling them with an easy-to-use application that promotes relevant financial advice and the creation of life-shaping connections.”

For media inquiries or additional information, please contact: [email protected].  

About WealthFeed:

Based in New York City, WealthFeed is a leading SaaS Business Development platform for Financial Service Professionals. Leveraging advanced AI and data analytics, WealthFeed empowers Financial Advisors to grow their book of business, increase client retention, and grow wallet-share with current clients through our AI-powered Money-in-Motion platform. For more information, visit www.wealthfeed.com.

SOURCE WealthFeed, Inc

The Value-based Healthcare Provider Pioneers Whole-Family Healthcare at Home

NEW ORLEANS, March 12, 2024 — Nest Health, the first value-based whole-family healthcare provider announced today it has raised over $4 million in an extended Seed Round. The financing was led by SpringTide with committed support from additional sources including Alumni Ventures, Ochsner Ventures, and others. Nest Health aims to make comprehensive healthcare radically accessible to the most vulnerable populations. This announcement comes on the heels of a $15M initial Seed Round in March 2023 led by 8VC and the Blue Venture Fund, with support from MVP, Health 2047, and Gaingels. This additional funding will be used to grow Nest Health’s reach to new markets and health plans.

“Greater reach allows Nest to meaningfully change the health not only of families we serve, but of populations as a whole.” Says Founder and CEO Dr. Rebekah Gee.  “Families eat together, experience addiction together, and experience poverty and poor health together. Treating an individual alone, particularly for high-and-rising-risk caregivers, ignores this reality and ultimately leads to poor health outcomes for the family. Treating the family as a unit, when and where it’s convenient for them, at home, has the power to radically improve access to quality healthcare for families, in Louisiana and beyond.”

Founded in 2021, Nest Health is the first value-based healthcare practice built for families. Nest provides parents and children with convenient and compassionate primary care through house calls, virtual care & 24/7 medical, behavioral, and social support. Since launching, Nest Health’s services have become accessible at no additional cost to thousands of families covered by Medicaid in the greater New Orleans area.

The company’s integrated care delivery team of doctors, advanced practice providers, family Advocates (medical assistants), pediatricians, dietitians, and mental health specialists provides families with vast services, including:

• Primary care at home and online
• A 24/7 Nest nurse line for support and advice
• Evening and weekend availability
• Check-ups and well visits
• Sick visits
• Vaccinations
• Mental health support
• Nutrition support
• Education and coaching
• Chronic condition management
• Specialty care
  and more.

“We’re thrilled to support Nest and their mission to make whole-family care radically accessible. This investment signals a much-needed change to support innovations delivering care to our country’s most vulnerable populations.” SpringTide partner Brad Otto shares. “Nest is the first to design home-based care for families and we couldn’t be more excited to be a part of this critical stage of growth for the company and the industry.”

The investment marks a significant milestone in Medicaid innovation. With $800 billion of annual spend^[1], Medicaid covers 83M people and 42% of the country’s births^[2], yet remains an untapped market for privately funded solutions, resulting in only $1.6B annually in venture capital investments. As compared to Medicare Advantage, a program covering 31M people with half the national spending as Medicaid, Medicare Advantage investments exceed $21.1B annually from venture capital^[3].

The U.S. lags far behind other high-income nations when it comes to maternal, infant, and family health outcomes. Louisiana in particular ranks 49^th in child well-being in the country and just as low on maternal health outcomes^[4]. 39 out of every 100-thousand mothers in Louisiana die during or shortly after childbirth^[5].

————————————————————————————-

About Nest Health

Nest Health is the first value-based in-home and virtual healthcare provider built for families. Starting in New Orleans, Nest Health partners with families and insurers to deliver a healthier start in life. Through an innovative primary care and value-based care model, Nest makes life easier and healthier for families. 

Nest offers evening and weekend appointments, house calls, virtual visits, same day, and next day availability, plus a 24/7 nurse line. Nest Health families won’t need to make multiple appointments, sit in waiting rooms, take extra time off work, or find childcare or transportation to get timely, quality healthcare. 

Nest Health is led by co-founders, Dr. Rebekah Gee, former Secretary of Health of Louisiana, and Rebecca Kavoussi, MPH, former President of Landmark Health. The company is currently hiring for a number of roles. For more information, visit nesthealth.com. 

Nest Health: Whole-Family Healthcare. For more information, to become a partner, or find care for your family visit www.NestHealth.com.  

CONTACT: [email protected]

About SpringTide

SpringTide is a venture capital firm focused on elevating human health globally. The firm seeks to support exceptional founding teams who are driving disruptive innovation on a global scale. SpringTide distinguishes itself through its operator DNA, relentless focus on human health, and deep conviction for leading early-stage funding rounds. For more information visit www.SpringTide.com. 

Related links: nesthealth.com

[1] https://www.cms.gov/data-research/statistics-trends-and-reports/national-health-expenditure-data/nhe-fact-sheet#
[2]  https://www.medicaid.gov/medicaid/quality-of-care/quality-improvement-initiatives/maternal-infant-health-care-quality/index.html#
[3] https://www.healthaffairs.org/content/forefront/startups-and-medicaid-can-collaborate-improve-patient-outcomes
[4] https://assets.aecf.org/m/databook/aecf-2023kidscountdatabook-embargoed.pdf
[5] https://www.marchofdimes.org/peristats/reports/louisiana/report-card

SOURCE Nest Health

Dr. Bruce B. Lee Appointed to Theromics Advisory Board to Guide Company’s Women’s Health Effort

WEST BRIDGEWATER, Mass., March 12, 2024 — Theromics Inc., a leading developer of products for the interventional oncology and interventional radiology markets, has announced the receipt of a $1M STTR Phase II grant from the National Science Foundation. The funding will support further studies of the company’s innovative technology, HeatSYNC™, a nano-polymer gel designed to enhance the effectiveness of ablation therapy of abnormal tissue and allow controlled delivery of drugs directly into soft tissue with reduced side effects.

“Our HeatSYNC technology represents a significant advancement in the field of interventional medicine,” said Ron Murphy, CEO of Theromics Inc. “Our novel biopolymer not only enhances traditional ablation procedures but also opens up new possibilities for energy-activated drug delivery. “

The newly developed nanogel can be infused with drugs to create a unique combination therapy that precisely targets abnormal tissue with potentially fewer side effects than systemic administration. This cutting-edge approach can potentially revolutionize treatment options for patients undergoing ablation procedures.

In addition to receiving the NSF grant, Theromics Inc. is pleased to announce that Dr. Bruce Lee, MD., has joined the team as a medical advisor. Dr. Lee brings twenty-nine years of clinical and research experience as a board-certified gynecologist and inventor of Acessa – an FDA-approved alternative to hysterectomy and myomectomy.

“We see a significant opportunity to apply our innovative HeatSYNC technology to address the growing need for new approaches to ablating uterine fibroids and abnormal uterine bleeding. Integrating Dr. Lee’s expertise into our team will be invaluable as we continue to develop this new application of our platform technology for this growing women’s health market and prepare to initiate a pivotal study later this year,” said Murphy.

The studies supported by the NSF grant # 2301440 will be led by Theromics Chief Science Officer William Park, Ph.D., and Principal Investigator at prestigious institutions such as Brown University, Dartmouth College, and Kansas State University. Damian Dupuy, MD, co-founder and chief medical officer of Theromics, will oversee ablation procedures at the various institutions. Dr. Dupuy has over two hundred publications in professional journals and is one of the pioneers in image-guided thermal ablation. The data generated from these studies will further expand upon the initial Phase I work, developing computer modeling and establishing the energy augmentation effects of the gel technology The Phase II studies will study gel safety and performance and will include a chronic safety study, a critical step towards FDA clearance for the ablation and coagulation of soft tissue.

About Theromics Inc:
Theromics Inc. was founded in 2016 at Brown University to develop innovative products for the soft tissue ablation and drug delivery markets. The company’s flagship products, HeatSYNC and the new CryoSYNC gel, are injectable nano-polymers that enhance the movement of energy in tissue. This makes energy-directed therapies like ablation more effective and reduces the likelihood of recurrence. The company plans to submit its products to the FDA for approval this year, with commercialization expected to begin in 2025. Theromics’ platform has various applications in targeted drug delivery with fewer side effects, women’s health, and orthopedic nerve ablation for chronic pain relief.

Contact:

Ronald Murphy

+1 (508) 942-8477

[email protected]

SOURCE Theromics Inc.

NEW YORK, March 12, 2024 — Eckuity Capital, a New York and London-based growth and venture capital investor, has appointed Dr Victoria Manax Rutson (Dr Manax) as a new Partner of the company. Dr Manax joins the globally focused life science, healthcare and technology focused firm that recently closed its $150 million Fund, that brings strong scientific, medical and business expertise together to partner with companies aiming to deliver positive impact on healthcare outcomes, wellness, and enhancement of the human condition.

Dr Manax is an accomplished medical oncologist with over two decades of expertise in the pharmaceutical/biotech industry, focusing on global drug/device development, nanomedicines, and product launch /commercialization. She has made indelible contributions to the field, particularly in shaping clinical trial landscapes with adaptive platform designs and biomarker integration.

Renowned for her innovative clinical trial designs, Dr Manax played a pivotal role in the development, approval, and launch of billion-dollar products, including the standard of care for pancreatic cancer. Holding multiple leadership/executive positions in companies such as Abraxis Bioscience, Celgene (BMS), MedSurge PI, and Duo Oncology, she has also served as the inaugural Chief Medical Officer for the Pancreatic Cancer Action Network, earning recognition as a respected panelist among FDA and regulatory agencies worldwide. Effectively overseeing numerous multimillion-dollar global clinical trial programs, Dr Manax holds multiple clinical advisories, chair positions, and patents, exemplifying her commitment to advancing medical science and patient well-being.

“Over the last 16 years, I have actively syndicated and participated in a range of investments, spanning venture debt, medical real estate, and Class A multifamily assets, but at the same time have been advising large pharmaceutical companies on their clinical strategy. Eckuity Capital provides me the opportunity to bring together the things I love doing most. I am very excited about joining Eckuity Capital, the firm has access to phenomenal investment opportunities and has one of the smartest investment strategies I have encountered,” said Dr Manax.

“Victoria brings tremendous value to us but particularly to our investments. Clinical trial design has always been the key component of therapeutic success but today, more than ever it is at the heart of value creation – the right language in the product’s label can add very significant value and wrong clinical trial strategy can add very significant costs to an early-stage company,” said Youssef Sebban, Managing Partner of Eckuity Capital. “We are delighted to welcome Victoria to the team.”

About Eckuity Capital
Eckuity Capital is a leading global growth and venture capital investor. Eckuity actively invests in life science, healthcare and tech companies that can deliver a strong positive impact on healthcare outcomes, wellness, and enhancement of the human condition. Based in New York, London, and Paris, the firm brings together a team of global investment professionals with strong scientific, medical and business expertise. Eckuity actively partners with ambitious entrepreneurs to create value and accelerate success. Eckuity.com

SOURCE Eckuity

VANCOUVER, BC, March 12, 2024 — Codezero, the innovator in secure enterprise microservices development, today announced a $3.5 million seed-funding round led by Ballistic Ventures, the venture capital firm dedicated exclusively to funding entrepreneurs and innovations in cybersecurity. This investment marks a significant leap forward in Codezero’s mission to reimagine multi-cloud, collaborative microservices development. Ballistic Ventures’ investment adds to the support from its existing, impressive list of angel investors and advisors, including Thomas Dohmke (GitHub CEO), Nick Caldwell (Microsoft, HubSpot, and Peloton), Marty Weiner (Pinterest and Reddit), and James Routh (AMEX, CVS, KPMG, and JPMorgan Chase).

“Multi-cloud, microservices-based architectures have become essential for digital business transformation. However, developing microservices across disparate cloud environments can force tradeoffs between developer productivity and security. Codezero eliminates these tradeoffs,” said Reed Clayton, Co-founder and CEO of Codezero. “Our mission is to empower DevOps teams with collaborative, multi-cloud infrastructure that prioritizes both security and developer productivity. As a cybersecurity-focused VC firm, Ballistic shares in this mission, and we’re thrilled to be a part of their portfolio.”

The “developer security problem” refers to a complex set of risks and vulnerabilities arising from the multiple levels of access and control that developers require over various staging and production systems. This situation is fraught with unintended risks, given that developers often require elevated permissions to create, manage, and deploy software and infrastructure. Codezero Teamspaces is an identity-aware overlay network. This means developers can instantly create environments consisting of services spanning local, cloud, and even their colleagues’ computers. They can do this without needing to know anything about the underlying infrastructure, networking, or direct access to credentials. Unlike other approaches, Teamspaces provides a locally accessible ephemeral environment that is identical to production. As a result, developers are vastly more productive and can deliver higher-quality code faster. Teamspaces can span multiple cloud vendors and be accessible to developers across the globe safely and seamlessly.

“Our investment in Codezero fits squarely into two of our investment themes. The Codezero solution solves what is arguably the largest outstanding issue in the ‘Shift-Left’ security theme. It also brings a scalable and manageable ‘Zero Trust’ approach to the provisioning of developer access,” said Roger Thornton, General Partner of Ballistic Ventures, who joins the Codezero Board of Directors as part of the firm’s investment. “With their impressive team and technology, we’re excited to have Codezero join the portfolio.”

With the new capital, Codezero is set to grow its sales and marketing teams and expand its partner network. This move is strategic for the company’s reach into enterprise DevOps and DevSecOps organizations, cloud-service providers, and cloud-migration specialists.

Developers and IT professionals from all organizations are invited to transform their microservices development with Codezero Teamspaces. Learn more at codezero.io.

About Codezero
Codezero is at the forefront of microservices development, employing an identity-aware overlay network that delivers transparent security to DevOps. By pioneering the use of dynamic Teamspaces, Codezero facilitates unparalleled collaboration, freeing DevOps teams from the complexities of infrastructure management and the pitfalls of passwords and secrets while still enabling them to use their preferred tools within a secure, streamlined ecosystem. At Codezero, our mission is clear: Code boldly!

About Ballistic Ventures
Ballistic Ventures is a venture capital firm solely dedicated to early-stage cybersecurity and cyber-related companies. The partners have spent their entire careers defending against every cyber threat conceivable. Members of the firm have founded, operated, and funded over 90 successful cybersecurity firms – including Abnormal Security, AlienVault, ArcSight, Fortify, Mandiant, and Shape Security – led over 10,000 security professionals globally, and have 40+ years of experience in venture capital. Our experience provides entrepreneurs impactful support from people focused on the same mission. Our networks and relationships open doors for our founders. Learn more at ballisticventures.com.

SOURCE Codezero

Proprietary Machine Learning Models Measure and Predict Impact of Media Campaigns on Direct-to-Consumer and Amazon Sales

MIAMI, March 12, 2024 — After more than 30x revenue growth in 2023, Prescient AI, a pioneer in AI-powered media measurement and optimization, has raised $10M in Series A funding led by Headline and CEAS Investments. Brands like GOOD AMERICAN, HexClad, Cozy Earth, and Nood, that use the Prescient AI platform to predict profitability and maximize revenue generated by advertising campaigns, have increased return on ad spend (ROAS) by an average of 20%. Previous investors Blumberg Capital and Focal VC also participated in the round.

“Before working with Prescient AI, we were confident in our monthly channel allocations but needed daily insights we could trust to shift our ad spend at the campaign level,” said Cameron Bush, Director of Growth Marketing for HexClad, leader in the cookware category in North America. “Using the platform’s suggestions during our crucial Q4 period resulted in a 30% increase in ROAS and an 85% increase in revenue generated by our media campaigns.”

Prescient AI uses first-party data and proprietary machine learning models to accurately determine both the direct impact of ads that users engage with, as well as the “halo effects” of all the ads consumers see, but don’t click on. These models are specifically tailored for each individual brand to attribute all of the omnichannel revenue across the entire media mix. Prescient AI also forecasts the outcome of future spend with rigorous backtesting techniques to provide accuracy and confidence scores with each recommendation on the platform. 

“Every marketer wants to know exactly where to spend to get the best results, but reliable answers are difficult to pinpoint and they continuously change with the business environment,” said Taylor Brandt, Vice President at Headline. “Prescient AI has proven its advanced AI solutions will consistently deliver accurate results and recommendations that brands can trust. They are the experts building for the future of media optimization and we are thrilled to welcome Prescient AI to the Headline portfolio.”

As brands keep adding new revenue channels and digital marketing continues to grow more complex, user-level tracking is only becoming more restricted due to consumer data-privacy protections. As a result, it’s nearly impossible to piece together buyer click-paths using platform reported data or multi-touch attribution (MTA) methods that are still commonly used today. Marketers are left to make critical spend decisions based on incomplete performance reports that rarely add up with sales data.

“For decades, the marketing analytics industry has been distracted by the promise of tracking pixels and click-based attribution models, but marketers don’t need user-level tracking to get reliable insights,” said Michael True, CEO and Cofounder at Prescient AI. “Whether it’s new privacy policies, updates to platform technology, or shifts in consumer behavior, the Prescient AI-trained models don’t weaken with change, they learn from it.”

Today, Prescient AI also launched early access to an evolution of their attribution model that measures the halo-effects of ad campaigns on sales in the Amazon marketplace. Rather than clicking and navigating to a brand’s website when they see an ad, many consumers today will search for the items on the world’s largest online marketplace. As brands try to capture those customers by adding Amazon as a sales channel, they need clarity into how marketing drives revenue through the marketplace as well as their direct-to-consumer owned sites. 

“With this new funding we will continue expanding our platform to vastly increase our sales and media channel integration coverage,” continued True. “And to keep delivering product enhancements that allow our customers to make confident budget decisions.”

“CEAS is very proud to continue backing the team at Prescient AI, who have demonstrated that they are building the next generation of marketing mix optimization tools for ecommerce brands,” said Ronnie Martinez, at CEAS Investments. “Unlike anything else on the market, their AI solution gives pinpointed recommendations, while considering and quantifying the impact of cross-channel awareness via halo effects.”

Prescient AI was built from the ground up to avoid high costs, integration complications, and delayed time to value associated with Marketing Mix Modeling (MMM) solutions of the past. Sales and marketing channels can be connected to the Prescient platform in minutes and actionable campaign performance insights are revealed in a matter of days. Daily insights enable marketers to continuously optimize budget allocation and be confident that every dollar is being spent where it will return the most value.

Learn more about Prescient AI or set up a free demo at www.prescient-ai.io. Customers who would like to beta-test the new Amazon halo-effects solution can register here www.prescient-ai.io/amazon.

About Prescient AI
Prescient AI provides media measurement and budget optimization solutions that enable omnichannel ecommerce brands to predict profitability and maximize revenue generated by advertising campaigns. Powered by proprietary machine learning models, the Prescient platform accurately attributes revenue across the entire media mix and provides daily updates and campaign-level recommendations to improve return on ad spend (ROAS) and lower customer acquisition costs. Unlike media attribution and marketing mix modeling (MMM) of the past, Prescient AI measures media halo effects to determine how campaigns indirectly impact sales and its accuracy is not affected by data-privacy restrictions or changes in the business environment. Prescient AI can connect to channels in minutes, including Shopify, Amazon, Meta, Google, Snap, TikTok, CTV, and more. Within days, the platform delivers usable insights about how much revenue each channel and campaign contributes through direct-to-consumer owned sites and the Amazon marketplace. Brands like GOOD AMERICAN, HexClad, Cozy Earth and Nood using the Prescient platform have seen an average increase in ROAS of 20%. Visit www.prescient-ai.io for more information.

SOURCE Prescient AI

CAMBRIDGE, Mass., March 12, 2024 — The Harvard Alumni Entrepreneurs Accelerator Powered by Pegasus Tech Ventures is excited to unveil its 2024 cohort, comprising 12 pathbreaking startups founded by Harvard alumni. These ventures span various sectors, demonstrating innovation and a commitment to addressing contemporary challenges with cutting-edge solutions.

The 2024 cohort includes:

Aimiable: Founded by Olga Gomonova, this AI operating system enhances customer support with predictive analytics and intelligent routing. Harvard Business School.

Berilium: Alberto Guillen Salas founded this digital wealth management platform to offer access to alternative investment strategies. Harvard Business School.

Delfino AI: Launched by Sneh Patel, this platform automates routine insurance calls for doctors’ offices, increasing efficiency. Harvard Business School.

FanEQT: Founded by Usman Shuja, this platform creates a marketplace for sports asset monetization, including stadium fractional ownership. Harvard Kennedy School

Fiduciary in a Box: Jed Cohen, established this platform to help employers navigate health benefits risk management and comply with new fiduciary regulations. Harvard College.

GuardianSat™: Founded by Christopher Rohe , this company addresses space debris management in Geostationary Earth Orbit (GEO). Harvard Kennedy School.

Inquisio: Joshua Penner founded this platform to improve public records request processes for local governments. Harvard Extension School.

Kedi Labs: This pet health company, founded by Michelle Frye, offers at-home diagnostic kits for pets. Harvard T.H. Chan School of Public Health.

PathCision Medicine: David Lee launched this biopharma firm to develop therapies for incurable diseases. Harvard Graduate School of Arts and Sciences.

Platform: Revolutionizing construction with the Platform Method™, this company was founded by Adrian Washington. Harvard Business School.

Sugarwork: Alumni Vanessa Liu, Harvard Radcliffe College and Harvard Law School, and Judith Williams, Harvard Radcliffe College, co-founded this knowledge-sharing platform using generative AI.

Vocadian: Founded by Amelia Eginton, this company provides predictive fatigue risk management using voice AI. Harvard Business School.

These startups will participate in an intensive ten-week virtual program, gaining access to mentorship, investor networks, and expert guidance to accelerate their growth and impact.

The program ends with Demo Day, when each startup showcases its innovations to a panel of investors and a curated audience, seeking further investment and partnerships to scale their solutions. The winner of Demo Day will go on to the Startup World Cup competition to pitch for a $1 Million grand prize.

For more details on the Harvard Alumni Entrepreneurs Accelerator and the 2024 cohort, go to: https://www.harvardae.org/2024-cohort

About Harvard Alumni Entrepreneurs
Harvard Alumni Entrepreneurs (HarvardAE) is a non-profit organization with 20 chapters globally, connecting over 19,000 alumni, faculty, students, and friends, from across the university and around the globe.

Besides the Accelerator, HarvardAE offers a variety of programs to support entrepreneurs including events, bootcamps, the highly regarded podcast, HAE Invites as well as initiatives as the Council for Women Entrepreneurs. Visit www.harvarddae.org

Pegasus Tech Ventures is a Silicon Valley-based global venture capital firm, managing over $2 billion in assets. It provides strategic and financial support to burgeoning tech companies globally. Unique in its offerings is their Venture Capital-as-a-Service (VCaaS) model to large corporations, enabling them to engage with innovative startups. Over 35 corporate giants like ASUS and SEGA have partnered with Pegasus to access its extensive portfolio, including industry leaders like SpaceX and Airbnb. Pegasus also spearheads the Startup World Cup, a premier global competition reaching over 70 countries, fostering regional innovation and offering a $1 million investment prize. Visit www.pegasutechventures.com and www.startupworldcup.io for details.

Contacts
Harvard Alumni Entrepreneurs:
Regina Ryan, President, Harvard Alumni Entrepreneurs
Email: [email protected]
Cell/WhatsApp: +1-617-803-0623
Pegasus Tech Ventures:
Janice Mok, Marketing Manager, Pegasus Tech Ventures
Email: j[email protected]
Cell/WhatsApp: +1-650-919-3182

SOURCE Harvard Alumni Entrepreneurs

AI-powered observability command center enables manufacturers to solve their highest-priority field quality issues impacting their customers from the earliest warning signals, with client base including Baxter, Cummins, Newell, and more

NEW YORK, March 12, 2024 — Axion Ray, the AI observability command center relied on by leading manufacturing companies to detect and solve emerging field quality issues affecting their customers, announced a $17.5 million Series A funding round led by Bessemer Venture Partners including strategic investment from RTX Ventures; existing investors, Amplo and Inspired Capital participated in the round as well. This Series A funding round brings the company’s total funding to $25 million. With this investment, Axion Ray will further expand its AI capabilities within technical issue detection and scale its go-to-market effort to new industries.

“Poor quality costs manufacturers trillions of dollars every year, and when a product recall occurs, each day a manufacturer is unaware of the issue can cost them millions of dollars more,” said Daniel First, founder and CEO of Axion Ray. “Axion Ray puts AI directly into the hands of field engineers to detect, investigate, and resolve these issues. This financing will allow us to scale our business and empower enterprises to solve their most important business problems, by enabling better cross-functional investigation accelerated with Al.”

Daniel First founded Axion Ray with the goal to help manufacturers solve their highest priority emerging issues that affect customers, as early as possible. The company’s novel AI command center flags technical issues months earlier, preventing injury, losses in warranty costs and customer downtime. Axion’s growing customer base includes leading Fortune 500 manufacturers, such as Baxter, Cummins, Newell, Boeing, Pratt & Whitney, DENSO, and other manufacturers across electronics, automotive, medical devices and consumer products.

On average, poor product quality costs manufacturers up to 10% of their annual revenue. By leveraging Axion Ray’s AI platform, customers have increased product quality while decreasing downtime by an average of 27% leading to improved customer experience and on average, a 16% reduction in warranty and service cost.

“Axion Ray has emerged as a clear market leader in automating workflows for field engineers to identify quality problems faster. The excitement we’ve heard from customers about Axion tells us the company is delivering clear and massive impact,” said Kent Bennett, Partner at Bessemer Venture Partners. “The ROI their AI command center delivers to improve uptime, customer satisfaction, and reduce cost has been a catalyst for significant growth within the customer base. We look forward to continuing our work with Axion Ray as they transform proactive AI-powered observability across industries globally.”

“Collaborating with Axion Ray has revolutionized our approach to quality,” said Michael Rohrer, Director Global Quality and Quality Conference Board Member. “Axion Ray’s unwavering commitment to excellence and cutting-edge AI solutions will not only streamline our processes but also significantly enhance the efficiency of nonconformance detection in the field. This will empower our team to react much faster, ensuring a swift and accurate response to any challenges. I am genuinely excited about the transformative possibilities that lie ahead in this collaboration. I anticipate a fruitful partnership and are eager to witness the positive impact it will undoubtedly have on our operations.”

“Identifying AI solutions that enable us to improve quality, support our workforce, and increase productivity is a top priority for the team at RTX Ventures,” said Daniel Ateya, president & managing director at RTX Ventures. “This investment underscores our confidence in Axion Ray and its AI platform to accomplish just that and aligns with our commitment to continuing to support visionary companies driving the future of manufacturing.”

Axion plans to grow its U.S. presence by expanding its workforce, hiring across sales, customer success and engineering as they continue to expand their capabilities for field quality and service leaders.

About Axion Ray
Axion Ray is the leading AI observability command center relied on by global manufacturing companies to detect and solve emerging quality issues affecting customers at the earliest warning signals. Axion Ray’s growing customer base includes leading Fortune 500 manufacturers, such as Baxter, Cummins, Newell, Boeing, Pratt & Whitney, DENSO, and other manufacturers across electronics, automotive, medical devices and consumer products. The company is backed by leading investment firms including Bessemer Venture Partners, RTX Ventures, Amplo and Inspired Capital, along with other multinational manufacturers. Axion Ray is headquartered in Brooklyn, New York. To learn more visit axionray.com or connect on LinkedIn.

SOURCE Axion Ray