With this investment, the startup will accelerate the development and implementation of artificial intelligence on the ‘plant floor’ and supply chains.
SÃO PAULO, April 30, 2024 — Cogtive, a startup that enhances the productivity of Manufacturing industries through IoT technologies, digital twins, and artificial intelligence, receives a R$ 10 million investment from Indicator Capital, the largest early-stage venture capital firm in Latin America specializing in the Internet of Things (IoT). This investment aims to help the company address a significant challenge in the industrial sector: ensuring that factories operate at their maximum capacity by mapping inefficiencies in the production process and delivering tools for optimization.
Most of the seed investment, a modality applied to early-stage expanding startups, will be directed toward product development and commercial expansion. “We want to expand our presence by positioning ourselves as the number 1 solution for productivity gains in Manufacturing, especially for industrial segments such as pharmaceuticals, animal health, cosmetics, food and beverages, paints, and chemicals in Latin America,” says Cogtive CEO, Reginaldo Ribeiro.
Cogtive’s technology maximizes the management capacity of production teams and operational excellence in manufacturing industries of various sizes and levels of maturity. From beginners in the digital journey who do not yet collect data to those with more advanced tools. The solution provided a comprehensive view of the plant floor through data integration, analyzing machine efficiency individually, and ensuring an understanding of all areas of the production flow.
Leadership in Artificial Intelligence
The ability to integrate all stages quickly and ‘plug and play’ is enhanced with the robustness of a generative and discriminative artificial intelligence, named TÆLOR. “With it,” explains Ribeiro, “a production manager will be able to know, in natural language, if they will be able to meet the monthly plan and what actions they need to take for that to happen.” “It’s a milestone in manufacturing history,” he reinforces.
Indicator Capital co-founder Thomas Bittar emphasizes: “Cogtive, through sensors connected to machines, fits perfectly into our Internet of Things 4.0 industry thesis. Embedded in an industrial environment representing almost a quarter of the country’s GDP, the company has enormous potential to be explored in the national market.”
Investment focused on growth and expansion
The startup’s rapid growth – doubling the number of clients in the last 12 months – and the results achieved were determining factors in the investment decision. Indicator Capital will support Cogtive’s team in various business areas through its Building Value Together® methodology.
The connection between Cogtive and Indicator Capital was facilitated by Cubo Itaú. CEO Paulo Costa explains: “Reginaldo already knew about Indicator’s work, had participated in some events, and knew about the potential and synergy. So, during an event our hub promoted, there was a conversation, and everything progressed.”
Project Will Use Realistic Market Simulation Model To Efficiently Integrate New Technologies
VALLEY FORGE, Pa., April 30, 2024 — A collaborative project among PJM Interconnection, Penn State and ISO New England has won funding from a U.S. Department of Energy program designed to develop and improve wholesale electricity markets.
Penn State was awarded up to $815,959 in a three-year grant to identify market design changes to efficiently integrate batteries and other nontraditional resources that operate with changing real-time constraints on a grid that is experiencing more uncertainty in electricity demand, or load. The project will use a realistic market simulation model with PJM and ISO-NE to achieve the best performance across the objectives of reliability, efficiency and investment incentives.
“We look forward to collaborating with Penn State and ISO New England on this important program,” said Stu Bresler, PJM Executive Vice President – Market Services and Strategy. “This is the exact work needed to enhance the reliability of the grid amid an evolving resource mix.”
The changing resource mix is increasing the variability of load and generation, leading to both larger and more frequent changes in electricity demand and to increased forecast error. At the same time, the growing contributions from battery energy storage units must be managed in real time to efficiently use their limited energy and meet their charging schedule.
“The current operational structure, which is designed to respond instantly in five-minute increments, now must also think 12 hours ahead,” said Mort Webster, Professor of Energy Engineering at Penn State and principal investigator, who will be working with the grid operators. “This is high-priority concern among regional transmission organizations like PJM and ISO-NE.”
“Innovative ideas and collaboration are vital to a successful clean energy transition,” said Matthew White, Vice President, Market Development and Settlements, and Chief Economist at ISO New England. “ISO New England is proud to partner with Penn State and our colleagues at PJM on this exciting project.”
In the past, the mostly thermal generation-dominated grid functioned well under market designs that dispatched each interval without regard to subsequent periods and managed uncertainty with simple reserve product designs.
Creating more flexible and efficient markets will not only ensure a reliable supply of electricity, but also help keep costs competitive for consumers.
PJM’s project addresses two related questions:
What is an optimal portfolio design of multiple reserve products on different timescales that can manage the increasing variability and uncertainty throughout the operating day from load and renewable generation?
How should day-ahead and real-time markets be structured to efficiently utilize batteries and other resources with binding constraints under net load uncertainty that changes throughout the day?
The other five projects cover Southwest Power Pool, California Independent System Operator and New York Independent System Operator (NYISO) markets as well as non-market areas, such as the Western Interconnection.
PJM Interconnection, founded in 1927, ensures the reliability of the high-voltage electric power system serving 65 million people in all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and the District of Columbia. PJM coordinates and directs the operation of the region’s transmission grid, which includes 88,115 miles of transmission lines; administers a competitive wholesale electricity market; and plans regional transmission expansion improvements to maintain grid reliability and relieve congestion. PJM’s regional grid and market operations produce annual savings of $3.2 billion to $4 billion. For the latest news about PJM, visit PJM Inside Lines at insidelines.pjm.com.
CHICAGO, April 30, 2024 — Aequum Capital recently completed a two-stage senior Term Loan facility to refinance venture debt of $6MM including exit fees plus additional debt capital for acquisitions of up to $2.5MM for BrightWorks IT, a portfolio company of Cloud Equity Group.
BrightWorks IT is a leading provider of managed IT services, offering businesses a comprehensive suite of solutions to optimize their technology infrastructure. The Company offers state-of-the-art managed services, as well as cloud, hosting, security, and business continuity IT solutions for small to medium-sized companies.
BrightWorks IT has acquired seven smaller MSP’s nationally, as it continues to support and expand its Sponsor-backed platform. The Delayed Draw Term Loan (DDTL) allows the Company to be nimble and competitive through the LOI stage increasing speed and certainty of closing.
Gary Li, CFO, stated, “We were immediately impressed as the team was familiar with our industry and the intricacies of providing IT services to small and mid-size businesses. They very quickly and aggressively put together a financing solution to support our needs today, as well as future growth. Aequum Capital provides us the flexibility and capability to move quickly when we identify a potential company to purchase. The partnership with Aequum will be a key component to us reaching our long-term growth goals.”
Aequum Capital Financial is a specialty finance lender providing fast and innovative senior asset-backed and cash flow debt facilities of up to $25 million to small and medium-sized businesses throughout the U.S.
WESTBOROUGH, Mass., April 30, 2024 — EG America raised $657,000for the American Red Cross during its nationwide in-store fundraiser in March, in recognition of Red Cross Month.
Throughout the month, guests at EG America’s Certified Oil, Cumberland Farms, Fastrac, Kwik Shop, Loaf ‘N Jug, Minit Mart, Quik Stop, Sprint Food Stores, Tom Thumb, and Turkey Hill stores were able to donate $1, $5 or an amount of their choosing to the American Red Cross. EG America then matched the amounts raised by the top store in each banner to increase the donation total.
Front L to R: Brian Ferguson, CMO; Nick Unkovic, Chief Legal & Admin Officer; John Carey, President/CEO; Holly Grant, CEO, Amer. Red Cross of MA; Lauren Krauth, Director of Development, Amer. Red Cross; Brian Duphily, ESG & Sustainability Mgr.
Back L to R: Ryan Gaetz, External Engagement Coord.; George Fournier, SVP, Supply Chain; Christopher Heersink, Dir. Distribution; Michael McGloin, Sr. Dir. Warehouse Ops; David Masuret, SVP Petroleum Supply/Operations; Dan McNally, Dir. Corporate Services
“We are proud to champion the American Red Cross’ mission of helping those in need,” said John Carey, President and CEO of EG America. “We are equally moved by the overwhelming generosity of our guests who contributed to this worthy cause.”
The American Red Cross assists individuals and communities in crisis. Donations enable the organization to respond immediately and deliver lifesaving support to those in need.
“The American Red Cross is grateful to be among the causes that EG America and its customers support,” saidBill Andrews, Division Fundraising Vice President. “The funds raised will be used by our volunteers to power our mission and life-saving work.”
About EG America
With more than 1,600 retail locations and 18,000+ team members across the U.S., EG America is one of the fastest-growing convenience store retailers in the country. As the operator of Certified Oil, Cumberland Farms, Fastrac, Kwik Shop, Loaf N’ Jug, Minit Mart, Quik Stop, Sprint Food Stores, Tom Thumb, and Turkey Hill stores, we are committed to becoming America’s preferred ‘one-stop’ destination by focusing on superior guest experience, high-quality grocery and fuel products, and supporting the communities in which we live and work. EG America is owned by EG Group, a UK-based fuel station and convenience store retailer with more than 50,000 team members across the UK & Ireland, Europe, Australia, and the US. For more information about EG America, visit us at eg-america.com or follow us on LinkedIn.
MINNEAPOLIS, April 30, 2024 — Integrity Orthopaedics, Inc., a company pioneering next generation solutions for soft tissue repair, has successfully closed on a Series B financing of $20.6 million. The financing was co-led by Piper Sandler Merchant Banking and an undisclosed existing investor. The company intends to use the capital to expand the US commercial launch of its initial product in the rotator cuff repair market. This milestone advances the company’s vision of revolutionizing soft tissue repair with its patented technology, aiming for stronger surgical repair and enhanced long-term healing.
Integrity Orthopaedics was co-founded in 2020 by Thomas Westling, a veteran executive in medtech and previously Founder and CEO of Rotation Medical, David Crompton, Chief IP and General Counsel, and distinguished orthopaedic surgeons Dr. Patrick Connor, Dr. Howard Harris, and Dr. Marc Labbe.
“We are pleased to co-lead the Series B financing,” said Tom Schnettler, Managing Director, Piper Sandler Merchant Banking. “Tom Westling is a proven entrepreneur and outstanding biomedical engineer. We see significant opportunities for Integrity Orthopaedics to transform the rotator cuff repair space, with the potential for this system to become a platform technology with broad applicability for soft tissue repairs across the human body.”
“We are grateful for the support of our shareholders, who we view as a strategic asset,” stated Thomas Westling, Co-Founder and Chief Executive Officer of Integrity Orthopaedics. “We have been blessed with an extraordinary set of investors, many with deep health care expertise and connections throughout the health care ecosystem, and they have consistently given us valuable counsel since our founding.”
The Integrity Orthopaedics system is designed to address the biggest unmet need in rotator cuff repairs, reducing the occurrence of cuff re-tears following surgical repair. Current surgical techniques have a structural failure rate that typically averages 20-40%, with rates ranging from 8-94% in specific studies (Young, et al., 2023).
The Integrity Orthopaedics system was FDA cleared in early 2023 and initially utilized by a small group of surgeons in a limited launch. This system uses patented micro-anchors, a continuous, locking stitch, a patented instrument for anchor installation and unique operative techniques to enable physicians to dramatically improve the fixation and healing of torn tendons. The Company has begun a paced expansion of its field sales team, with the goal of working with innovative orthopedists in select markets throughout the country. This roll out is expected to broaden over time, as the Company ramps up its staffing, production volumes and physician education resources.
“The keys to maximizing the environment for rotator cuff healing are a strong initial repair coupled with a technique that allows the tendon access to the patient’s biology for long-term healing,” said Dr. Patrick Connor, orthopaedic shoulder surgeon at OrthoCarolina in Charlotte, Chief of Sports Medicine and Shoulder & Elbow Surgery at Atrium Health, and Co-Founder of Integrity Orthopedics. “This technology achieves both goals with more fixation points than any other solution on the market. My experience using this device has shown that it not only creates a more consistent and efficient repair than other techniques, it also uniquely improves both the strength and the overall healing environment at the time of surgery. Based on the substantial increased strength of the repair and restoration of the entire rotator cuff footprint, surgeons may be more comfortable reducing postoperative sling immobilization for their patients which will lead to their faster and more complete recovery.”
About Integrity Orthopaedics
Integrity Orthopaedics is committed to redefining the landscape of soft tissue repair. Its initial focus is on revolutionizing the approach to rotator cuff repair, overcoming limitations of traditional techniques by enabling robust initial repair strength while fostering an optimal environment for healing. The company was founded in 2020 and is headquartered in Maple Plain, MN.
Piper Sandler Merchant Banking (PSMB) is the growth equity investment arm of Piper Sandler Companies (NYSE: PIPR). The PSMB team strives to partner with founders and CEOs of growing, commercial stage businesses that can benefit by leveraging Piper Sandler’s knowledge, experience, capital and relationships to build market leading enterprises. PSMB provides investment advisory services through the affiliated registered investment adviser, PSC Capital Partners LLC. Learn more about Piper Sandler Merchant Banking.
References:
Young BL, Bitzer A, Odum S, Hamid N, Shiffern S, Connor PM. Healthcare costs of failed rotator cuff repairs. JSES Rev Rep Tech. 2023 Apr 25;3(3):318-323.
Contact: Michael Rodriguez Director of Marketing & Sales Operations [email protected]
The company closed a $17 million funding round led by 7wireVentures to accelerate their proven ability to unleash the power of human connection in communities, amplifying social impact and outcomes
TAMPA, Fla., April 30, 2024 — GroundGame.Health, a proven social impact solution that fulfills unmet social and care needs for people everywhere, has merged with SameSky Health, a cultural experience company that builds trust and deepens engagement with members. The combined company will accelerate a shared mission to improve health and advance health equity by closing the loop around health-related social needs and gaps in care at scale. GroundGame.Health closed a $17 million funding round led by 7wireVentures after the companies joined. Together, their coverage spans 50 states.
GroundGame.Health has pioneered an innovative model that builds trust between Managed Care Organizations (MCOs), Community-Based Organizations (CBOs), and members to Connect the Unconnected.™ GroundGame.Health delivers last mile services that give people the help they need most, whether delivering meals to their homes, meeting other health-related social needs, providing other health resources, or addressing underlying challenges such as health literacy. SameSky Health pioneered a model for culturally-tailored outreach and engagement focused on personalizing the member experience to increase access to care. SameSky Health will increase GroundGame.Health’s ability to scale its reach, efficiency, and impact.
“Abner (CEO and founder of SameSky Health) has built a talented, impact-driven team at SameSky Health, and we are excited to leverage their expertise and technology to deepen our trust with members,” said Susan Rawlings Molina, CEO and Co-Founder of GroundGame.Health. “We don’t do this alone. By leaning into trusted connections with members, MCOs, and CBOs, GroundGame.Health has been fundamentally changing how people access and understand care—and we will now take that work to the next level.”
GroundGame.Health has fulfilled over 180,000 social impact needs to date, and has powered the flow of over $26 million from MCOs to CBOs to provide ongoing, sustainable funding for the local organizations best positioned to meet those needs. SameSky Health has engaged over 2.8 million members, and the combined company will continue to deliver outcomes around meeting members’ needs, closing gaps in care, and reducing the cost of care.
“We’re thrilled for the opportunity to join GroundGame.Health and drive even greater impact in this sector,” said Abner Mason, Chief Strategy and Transformation Officer of GroundGame.Health and previously the CEO and Founder of SameSky Health. “Our shared vision of combining sensitive, purpose-built technology with trusted human relationships positions us to help even the most challenging-to-reach populations.”
“We are excited about the impact GroundGame.Health and SameSky Health will have as they deliver hyperlocal, individualized experiences to help people overcome the barriers that prevent them from accessing the care they need to improve their health,” said Robert Garber, a Partner at 7wireVentures. “Closing social and healthcare gaps is difficult, mission-critical work and they have a proven model that can scale to meet these needs.”
About GroundGame.Health GroundGame.Health manages the complex connections between health plans, members, and Community-Based Organizations to fulfill unmet social and care needs for people everywhere. Our closed-loop, HITRUST-certified platform and trusted, local relationships allow health plans to connect their most challenging-to-reach members with the care and help they need—and drive more health and equity as a result.
To date, we have met over 180,000 social impact needs and have powered the flow of over $26 million from MCOs to CBOs. In 2023, we were recognized by Inc. Magazine as one of the 5,000 fastest growing companies in America, ranking #692. Learn more at www.groundgame.health.
About SameSky Health SameSky Health is a cultural experience company that removes barriers to care and forms meaningful relationships to bring people to health. We guide health plan members on their annual wellness journeys by building trusted relationships that encourage dignity, autonomy, and companionship as they navigate disparate life experiences within a complex healthcare system.
Launched in 2017, SameSky Health engages 2.8 million+ members across 50 states and 3 US territories, in 25+ different languages. The company’s cultural expertise and technology-based solutions enable health plans to grow member engagement, improve quality measures, and increase overall health outcomes. We are on a mission to create cultural connections for a healthier, more equitable world. SameSky Health is based in North Hollywood, CA. To learn more, visitwww.sameskyhealth.com.
The Series B funding bolsters Arbol’s ability to tackle the record-breaking number of climate-related insured losses
NEW YORK, April 30, 2024 — Arbol, a leading climate risk solutions provider operating in over 15 countries, announced today that it has closed a $60 million Series B funding round, co-led by Giant Ventures and Opera Tech Ventures with participation from Mubadala Capital.
In the wake of a year marked by unprecedented climate events, with 398 natural disasters causing $380 billion in losses and a record 37, billion-dollar insured loss events, Arbol’s funding represents a long overdue moment for climate risk insurance. Parametric insurance delivers payouts based on predefined and trusted climate data triggers, such as rainfall amounts or temperature thresholds. Objective data triggers replace the subjective and time-consuming manual damage assessments conducted by claims adjusters, enabling quicker delivery of urgent financial relief to communities following catastrophic climate events. For example, if rainfall falls below a certain level, adversely affecting crop yields, farmers could receive rapid financial support when facing reduced production due to specific weather conditions.
Arbol brings scale, transparency, and efficiency to climate risk management. Through leveraging global, trusted datasets for objective loss triggers, Arbol aims to broaden the adoption of parametric products and pioneer the concept of climate risk as a tangible, investable asset class. It differentiates itself through its technology ecosystem, which combines automated structuring, AI-powered underwriting, pricing tools, and user-friendly platforms for agents and brokers. Combining this approach with flexible risk capital enables Arbol to underwrite bespoke solutions, facilitating the scalable distribution of innovative financial products.
“This Series B funding marks a pivotal moment for Arbol, affirming our achievements and propelling our mission forward to normalize parametric financial products and insurance globally as key strategies in climate risk management,” said Sid Jha, Arbol’s founder and CEO. “Our ambition extends from empowering the world’s smallest subsistence farmers in underserved regions to securing the assets of the world’s largest corporations, ensuring they all have access to unmatched protection amidst the unpredictability of climate change. Our approach is not just about offering insurance; it’s about creating a safety net that spans the entire spectrum of economic participants affected by climate volatility.”
The fresh funding will support Arbol’s continued expansion into agriculture and renewable energy through products tailored for new perils and geographies. The capital raised will also support Arbol’s global expansion and broaden its investment in property and casualty (P&C) and home insurance business lines in the U.S. and internationally. Arbol will continue to deepen its work with entities in the financial sector, such as banks, which are facing new challenges with climate risks, both for their internal risks and client needs.
“You can’t go a week without reading an article about extreme weather events occurring and the challenge this poses for traditional insurers,” said Cameron McLain, Co-founder and Managing Partner of Giant Ventures. “Arbol’s pioneering approach enables businesses, large and small, to manage climate risk where traditional insurance fails. Their achievements are hugely impressive, and we believe they’re building an essential pillar of climate adaptation and the global financial infrastructure.”
“While climate change is more and more tangible, the need for hedging solutions that are scalable and economically sustainable is becoming key,” added Thibaut Schlaeppi, Managing Director of Opera Tech Ventures. “Leveraging insurance and capital markets offers Arbol’s clients a pivotal solution to build the financial resilience they need”.
Arbol raised a $7 million Series A funding round in January 2021 led by a member of The Susquehanna International Group of Companies (SIG) with participation from Mubadala Capital and Space Capital.
The company transacted $250 million in gross written premium (GWP) in 2023, with significant growth in its renewable energy and reinsurance businesses. Arbol Insurance Services (AIS), a wholly owned subsidiary of Arbol, became an approved Lloyd’s of London cover holder in May last year. Arbol recently announced the launch of Lilypad Insurance, a newly established carrier dedicated to serving the unique insurance needs of homeowners and property investors in coastal areas. Lilypad received its certificate of authority from Louisiana and has begun operations in the state. Subsequently, it announced the acquisition of Centauri Specialty Insurance Company and Centauri National Insurance Company, subject to regulatory approval. Lilypad Insurance will enable Arbol to grow the total addressable market of parametric insurance through hybrid product distribution while addressing the urgent need to address the growing coverage gap in coastal communities.
Arbol’s success stories span globally — over 15 countries — and include a wide range of businesses looking to build resilience against climate risk. This Series B funding is a testament to Arbol’s vision, its team’s execution capability, and the significant market demand for innovative risk management solutions.
About Arbol
Arbol is redefining climate risk management to transform it into a globally recognized asset class. Through a foundation of innovative pricing, comprehensive data infrastructure, and precise AI-powered underwriting tools, Arbol aims to bridge the global coverage gap and offer practical solutions for managing climate risks. Awarded for its underwriting innovation, Arbol leverages advanced technologies to serve a broad client base, emphasizing sustainability and resilience in an unpredictable climate landscape.
Blackstone and other corporate partners join the Ballistic X Pursuit Cyber Fellows program, charting a path to narrow the industry’s talent gap and economic divides
SAN FRANCISCO and NEW YORK, April 30, 2024 — Ballistic Ventures, the venture capital firm dedicated exclusively to funding and incubating entrepreneurs and innovations in cybersecurity, and Pursuit, a workforce development social impact organization that trains low-income individuals so they can build careers in tech, today announced the Ballistic X Pursuit Cyber Fellows program, a groundbreaking initiative to tackle the cybersecurity skills gap by providing adults from non-traditional backgrounds with the training and support necessary to excel in these careers.
The cyber skills gap is one of the most pressing challenges facing the cybersecurity industry today. Despite the industry’s rapid growth, there is a significant shortage of qualified professionals – particularly from non-traditional backgrounds, as open opportunities aren’t accessible to everyone. The Ballistic X Pursuit Cyber Fellows program aims to tackle this challenge head-on. Tapping into Pursuit’s proven software development training program, the Ballistic X Pursuit Cyber Fellows program empowers talented adults from non-traditional backgrounds to get the training and support needed to be hired, retained and succeed in the cybersecurity industry.
“The Ballistic X Pursuit Cyber Fellows program represents more than just a commitment to diversity in cybersecurity; it’s a catalyst for innovation, fostering a convergence of unique backgrounds that will undoubtedly spawn new ideas, technologies, and approaches to secure our rapidly evolving world,” said Jake Seid, Co-founder and General Partner of Ballistic Ventures. “At Ballistic, we believe in the power of diverse perspectives not only to address the industry’s skills gap but to shape the future of cybersecurity.”
In existing Pursuit programs, which have focused on employing talent to software development and engineering teams, fellows have gone from earning an average of $18K to over $90K working at some of the best companies in the world. The Ballistic X Pursuit Cyber Fellows program intends to support these efforts for fellows within the cybersecurity community.
“At Pursuit, our mission has always been focused on reshaping the narrative for individuals from underserved backgrounds. The Ballistic X Pursuit Cyber Fellows program is a testament to the impact we can make when we empower talented individuals with the right skills and connect them with industry leaders,” said Jukay Hsu, Co-founder and CEO of Pursuit. “Together with Ballistic, we are forging a more inclusive pathway to success for aspiring cybersecurity professionals, bridging the cyber skills gap, and providing employers with trained non-traditional talent to help their businesses thrive.”
Founding members of this transformative program include Blackstone and other corporate partners, which have committed to employing fellows on their cybersecurity teams. For founding members and employers who sign on, the Ballistic X Pursuit Cyber Fellows program helps nurture long-term talent through three-years of on-the-job support and training.
“Becoming a founding member of the Ballistic X Pursuit Cyber Fellows program was an easy choice for us. Our engineering team has worked with Pursuit for years, and from a cybersecurity perspective, this just makes sense,” said Adam Fletcher, Chief Security Officer of Blackstone. “Not only does this new initiative contribute to closing the industry’s talent gap, but it also provides access to a broader pool of individuals who are well-versed in a modern tech stack with targeted cyber training. We are proud to be a part of this initiative.”
Blackstone has partnered with Pursuit since 2015. After many years of success hiring engineering talent, adding cybersecurity trained fellows was a natural extension of the partnership. A select number of trial fellows completed their Pursuit cybersecurity training and are successfully in-role at Blackstone.
“I feel confident in achieving success with the support, encouragement, and continuous behavioral and technical assistance from Pursuit,” said Lili Huang, Cloud Security, Blackstone Cybersecurity and Pursuit Fellow. “With Pursuit’s guidance, I am equipped to overcome any challenge on my path to success.”
By creating pathways to cybersecurity careers, the Ballistic X Pursuit Cyber Fellows program will transform people, families and industries. However, this transformation requires the community’s support. The collective is calling on all corporations with cybersecurity hiring initiatives in 2024 to explore the program and consider partnering. Learn more at pursuit.org/cyber.
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 100 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. The Ballistic portfolio includes Aembit, Alethea, ArmorCode, AuthMind, Codezero, Concentric AI, Nudge Security, Oligo Security, Pangea, Perygee, Reach Security, SpecterOps, Talon (PANW) and Veza. Our experience provides entrepreneurs impactful support from people focused on the same mission. Our networks and relationships open doors for our founders. Learn more atballisticventures.com.
About Pursuit Pursuit is an innovative social impact organization whose mission is to close the opportunity gap in America. Founded in 2011 and based in New York City, Pursuit trains adults with the most need and potential to get their first tech jobs, advance in their careers and become the next generation of leaders in tech. On average, Pursuit Fellows increase their annual income from $18,000 to nearly $90,000, and work at leading companies, including Citi, Uber, Peloton, and Blackstone. Pursuit Fellows begin their journey with a year of high-quality, intensive, and supportive training, followed by three years of career development once they’ve been hired. Pursuit also works directly with companies to secure hiring commitments, which results in long-term growth and retention. To ensure the Pursuit Fellowship is sustainable and scalable, Pursuit uses a blended finance model that enables it to tap into philanthropic capital as well as impact investor funding. By breaking down barriers and connecting talent with opportunity, Pursuit empowers their Fellows to bring change to their families, tech companies, and communities across the nation. To learn more, visit pursuit.org.
MONROVIA, Kalifornien, 30. April 2024 — LiNova Energy Inc. (Linova) hat in einer Serie-A-Finanzierungsrunde unter der Leitung von Catalus Capital 15,8 Mio. US-Dollar aufgebracht. Weitere Investoren waren Saft, eine Tochtergesellschaft von TotalEnergies, Chevron Technology Ventures und ein Investorenkonsortium. LiNova wird die Mittel nutzen, um seine Mission voranzutreiben, die Energiespeicherlandschaft mit seiner Polymer-Kathoden-Batterie zu revolutionieren.
Dieser bedeutende finanzielle Meilenstein wird es LiNova Energy ermöglichen, seine Forschungs- und Entwicklungsanstrengungen auszuweiten, den Betrieb auszuweiten und die Kommerzialisierung seiner hochmodernen Batterien zu beschleunigen. LiNova hat eine hochenergetische Polymerbatterietechnologie entwickelt, die den materiellen Ersatz der herkömmlichen Kathode, die Kobalt, Nickel und andere bedenkliche Materialien enthält, ermöglichen soll.
Darüber hinaus gab LiNova den Abschluss einer gemeinsamen Entwicklungsvereinbarung mit Saft bekannt, nach der LiNova und Saft zusammenarbeiten werden, um die Batterietechnologie für die Vermarktung in den Schlüsselmärkten von Saft zu entwickeln. „Wir sind stolz darauf, mit LiNova bei der Weiterentwicklung seiner Technologie zusammenzuarbeiten und dabei die umfangreiche Erfahrung der Saft-Forschungsteams, unsere neuesten Prototypenlinien und unser industrielles Know-how bei der Herstellung von Batteriezellen zu nutzen“, sagte Cedric Duclos, Geschäftsführer von Saft.
„Die von LiNova entwickelte Technologie ist auf eine höhere Energiedichte ausgelegt und bietet gleichzeitig eine sicherere, leichtere und kostengünstigere Lösung für den Batteriemarkt“, sagte Jim Gable, Vizepräsident, Innovation, und Präsident von Technology Ventures bei Chevron. „Dies ist die jüngste Investition aus unserem 300-Millionen-Dollar-Fonds Future Energy Fund II, der sich auf die industrielle Dekarbonisierung, neue Mobilität, Dezentralisierung von Energie und die wachsende Kreislaufwirtschaft konzentriert. Wir begrüßen LiNova Energy in unserem Portfolio.“
„Wir freuen uns, die Serie-A-Runde von LiNova anzuführen und das Unternehmen auf seinem Weg zum kommerziellen Erfolg zu unterstützen“, sagte Saif Qazi, Vizepräsident bei Catalus Capital. „Die innovative Polymer-Kathodentechnologie von LiNova ist eine starke Ergänzung unseres Energiespeicherportfolios. Die Investitionen von Catalus in diesem Bereich richten sich auf Unternehmen, die eine solide technische Grundlage mit einem fähigen Managementteam und einem soliden Geschäftsplan kombinieren. LiNova ist ein Beispiel für diesen Ansatz. Wir freuen uns auf eine erfolgreiche Partnerschaft.“
„Wir sind dankbar für die Unterstützung und das Vertrauen unserer Investoren“, sagte Michael Nagus, Geschäftsführer von LiNova Energy. „Diese Finanzierung ist ein Beweis für das Potenzial unserer Technologie und den Einfluss, den sie auf die Bereitstellung einer nachhaltigeren Batterie für den weltweiten Energiespeicherbedarf haben wird. Mit dieser Investition sind wir gut positioniert, um unsere Mission voranzutreiben und unsere innovativen Polymer-Kathoden-Batterien auf den Markt zu bringen.“
Catalus Capital, Chevron Technology Ventures und Saft besitzen eine Fülle von Erfahrungen und strategischen Ressourcen, die bei der Ausrichtung des Wachstumskurses von LiNova Energy eine wichtige Rolle spielen werden.
LiNova Energy ist entschlossen, diese Investition zu nutzen, um bedeutende Fortschritte im Bereich der Batterietechnologie zu machen, Innovationen voranzutreiben und seinen Kunden und Interessengruppen einen Mehrwert zu bieten.
Weitere Informationen über LiNova Energy und sein Ziel, die Energielandschaft zu verändern, finden Sie unter https://www.linovaenergy.com/
Informationen zu LiNova Energy, Inc.
LiNova Energy entwickelt ultrahochenergetische Batterien mit einer Polymerkathode für die EV-, Luft- und Raumfahrt- sowie Energiespeicherindustrie. Die Kathoden von LiNova Energy benötigen kein Nickel, Kobalt oder andere Metalloxide, was eine nachhaltige und kostengünstige Batterielösung darstellt. Das Unternehmen hat sich zum Ziel gesetzt, die Art und Weise, wie auf der Welt Energie gespeichert wird, zu revolutionieren.
Diese Pressemitteilung dient ausschließlich zu Informationszwecken und stellt weder ein Verkaufsangebot noch eine Aufforderung zum Kauf oder eine Empfehlung für irgendwelche Wertpapiere dar.
Kontakt: Michael Nagus, Geschäftsführer, LiNova Energy, [email protected]
