DULUTH, Ga., May 22, 2024 — AGCO (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, today announced its recent investment in the Innova Ag Innovation Fund VI of venture capital firm, Innova Memphis. This fund investment is the first executed by AGCO’s recently launched corporate venture capital initiative, AGCO Ventures. The deal aligns with AGCO’s approach to support the next generation of farming through advanced solutions that promise a more automated, digitized and sustainable future for agriculture.

The Innova team is renowned for its focus on nurturing early-stage startups revolutionizing agriculture.

“We are excited to announce our investment in Innova Ag Innovation Fund VI, a move that reflects our unwavering commitment to pushing the boundaries of what’s possible in agriculture,” said Seth Crawford, AGCO Senior Vice President and General Manager, PTx. “This partnership enables us to tap into the latest innovations in the field, from automation and digitization to sustainability and efficiency, ensuring that we continue to provide our customers with the most advanced and effective solutions on the market.”

Through this partnership, AGCO intends to leverage Innova’s expertise in identifying and supporting high-potential startups at the forefront of agricultural technology.

“We are immensely proud to partner with AGCO, a true leader in the agricultural sector, whose commitment to innovation and sustainability mirrors our own,” said Dean Didato, a partner at Innova. “This collaboration represents a unique synergy between AGCO’s industry expertise and our vision for a technologically advanced farming future and revitalized rural economies. Together, we are set to empower the brightest minds in agriculture, driving transformative solutions that promise to enhance farm productivity and profitability and secure a sustainable future for our planet.”

For more information on the strategic areas of focus, visit AGCO Ventures.  

About AGCO
AGCO (NYSE: AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers value to farmers and OEM customers through its differentiated brand portfolio including core brands like Fendt®, GSI®, Massey Ferguson®, PTx and Valtra®. AGCO’s full line of equipment, smart farming solutions and services helps farmers sustainably feed our world. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of approximately $14.4 billion in 2023. For more information, visit www.agcocorp.com. For company news, information, and events, please follow us on X: @AGCOCorp. For financial news on X, please follow the hashtag #AGCOIR.

About Innova Memphis
Founded in 2007, Innova is an early-stage investor focused on starting and funding high-growth companies in AgTech and MedTech. The firm has invested in over 125 companies across the United States from its five investment funds, totaling over $110 million. Currently, Innova is looking to invest in novel solutions that address agriculture’s chronic labor shortage, supply chain deficiencies, margin pressures, and increased demands for transparency and sustainability. www.innovamemphis.com

SOURCE AGCO Corporation

NEW YORK, May 22, 2024 — Superlegal, the first AI platform for legal contract review for small and medium-sized businesses (“SMBs”) and the only AI solution authorized to practice law in the U.S.A., announced today the closing of its $5 million seed funding round, co-led by Aleph and Disruptive AI fund, with the participation of Alicorn Venture Capital, and Tom Glocer, the former CEO of Thomson Reuters. The company also received a grant from the Google AI Startups Fund. Superlegal is the second LegalTech venture for CEO and Co-Founder Noory Bechor and CTO and Co-Founder Ilan Admon. The pair previously founded LawGeex, a pioneer in AI-powered contract review for large enterprises, acquired in 2023. Superlegal’s new round of funding will enable it to accelerate product innovation, attract top talent, and expand its market presence.

Superlegal’s comprehensive SaaS platform is AI-powered and lawyer-verified and is designed to help SMBs handle their contracts efficiently and cost-effectively, as well as accurately review and advance contracts without relying on a legal department or outside legal counsel. The company’s patented AI contract review engine was trained using data from the world’s largest legal organizations and includes unique algorithms designed specifically for legal language. Superlegal provides a remarkable 90% reduction in legal costs and a 70% reduction in deal cycles.

Legal contract review and negotiation is a challenge for many businesses, especially those with high monthly contract volume and without an inhouse legal team. For example, the construction sector, which comprises over 3.6 million firms, often requires contracts with more than 100 suppliers and contractors. This complexity underscores the intricate and demanding nature of the construction industry for the solution provided by Superlegal and demonstrates already high adoption.

Noory Bechor, CEO and Co-founder of Superlegal said, “This investment from three industry-leading VCs with deep passion and expertise in AI serves as a robust validation of our vision and dedication to ensuring that small and medium-sized businesses can access, afford, and adopt the same AI technologies as enterprises. With this funding, we can expedite our growth trajectory and sustain our commitment to innovation, while leveling the playing field between small and large businesses.”

Yorai Fainmesser, General Partner at Disruptive AI, remarked, “The legal sector is one of the major beneficiaries of the Generative AI revolution and Superlegal is positioned to become a market leader with its fully automated solution. Leveraging Superlegal’s proprietary AI to replace lawyers’ involvement in day-to-day business contracts can speed up deal closing cycle for SMBs seeking to drive revenues faster.”

Eden Shochat, Equal Partner at Aleph, remarked, “Aleph is thrilled to join forces again with the Superlegal team, as they continue empowering small and medium businesses to overcome the hurdles of lengthy legal procedures and lawyers. We’ve witnessed the transformative power of AI across industries, and its ability to swiftly address one of the business’s most costly and time-consuming aspects. Superlegal’s AI contract review, verified by licensed attorneys, allows customers to run their business faster without the fear of legal risk.”

About Superlegal
Superlegal is a unique AI platform designed to assist small and medium-sized businesses (SMBs) with legal contract review. It is the only AI licensed to practice law in the USA and is powered by AI technology while being verified by lawyers. The platform is designed to help businesses efficiently and cost-effectively handle their contracts and accurately review and advance contracts without depending on a legal department or outside legal counsel.

The company was founded in 2021 by Noory Bechor, an international lawyer, and Ilan Admon, a leading AI expert. They previously founded LawGeex, an AI-powered contract review pioneer for enterprises, acquired in 2023. Bechor, CEO and Co-Founder of LawGeex and Superlegal, is a commercial lawyer and AI software pioneer. His mission is to transform commercial legal, recently founding Superlegal to extend AI’s reach. Admon, an internet entrepreneur and experienced CTO, specializes in AI with over 20 years of programming experience.

Superlegal is headquartered in New York, NY, and is supported by Aleph and DisruptivAI fund, as well as Alicorn Venture Capital, Google’s AI fund, and Tom Glocer, former CEO of Thomson Reuters.

About Aleph
Aleph is an early stage venture capital fund focused on partnering with great Israeli entrepreneurs to build large, meaningful companies and impactful global brands. Founded in 2013, Aleph is a partnership of Michael Eisenberg, Eden Shochat, Yael Elad and Tomer Diari with $850M under management. Aleph has invested in over 60 companies (not all announced) including Lemonade (LMND), Windward (WNWD), Melio, Healthy.io, Simply, Honeybook and Empathy.

About Disruptive AI
Disruptive AI (DAI) is the first Israeli venture capital specialized in Artificial Intelligence startups from their early stages and acts as a home for the Israeli AI innovation community. DAI is partnering with top Israeli entrepreneurs who bring industry domain expertise and strong AI technology vision to build large, meaningful companies and impactful global brands. The Fund is backed by more than 30 active top leading entrepreneurs from the Israeli hi-tech arena and strategically involved with global corporations who marked AI as their focus.

SOURCE Superlegal

Recognized for its online commercial trucking insurance platform and Driver Safety Program, Cover Whale will use funding to support the next phase of profitable growth

NEW YORK, May 22, 2024 — Cover Whale Insurance Solutions, Inc., a leading insurtech specializing in connected insurance for commercial auto, today announced funding of $27.5 million in debt and equity from investment funds managed by Morgan Stanley Expansion Capital. The funding round, which also had existing debt investors convert into the Series A preferred, will support Cover Whale’s continued growth and accelerate its progress toward transforming trucking insurance and improving safety on America’s roads.

The funding will provide for a strong balance sheet supporting Cover Whale’s profitable, growing business. Known for its ability to provide agents and their trucking clients with lightning-fast policy quotes and bound coverage, Cover Whale is actively investing in its technology and operating platform to further improve speed to quote and improve service quality.

“Cover Whale was built from the ground up to transform commercial auto insurance with technology at our core,” said Dan Abrahamsen, CEO of Cover Whale. “We believe this investment from Morgan Stanley Expansion Capital will support our continuing mission to deliver the industry’s leading trucking insurance experience, building on the positive impact we’ve already made for our agents, drivers, and the general motoring public.”

Founded in 2019, Cover Whale’s unique business model combines easy, instant quotes and binds with advanced telematics and real-time driver coaching. It continues to redefine commercial trucking insurance via technology-driven strategies, optimizing road safety and financial performance with tangible results.

“We believe Cover Whale is a rare instance where the team has built a large-scale insurtech MGA and achieved consistent profitability while remaining capital efficient” said Nick Nocito, Executive Director of Morgan Stanley Expansion Capital. “We are looking forward to partnering with the team as they continue to grow the platform and pursue new avenues of growth.”

About Cover Whale
Cover Whale, an insurtech founded by experienced insurance and technology veterans, focuses on technology, underwriting, and data to provide innovative insurance programs for the commercial auto industry. Operating as a managing general agent (MGA), the company currently has more than 15,000 in-force policyholders, ending 2023 with a $225M in GPW while maintaining industry-leading loss ratios. Cover Whale’s unique Driver Safety Program combines insurance coverage with telematics and real-time driver coaching to reduce claims, keep drivers safe and save lives on America’s roads. Cover Whale delivers its product through more than 4,000 active agents with the industry’s fastest, most agent-friendly online quote and bind experience. With a fundamental belief that safe driving should be rewarded, Cover Whale’s safest drivers save by receiving the best insurance rates in the industry. The company was named 2023 Insurtech of the Year by Program Manager, one of America’s Best Startup Employers on Forbes’ 2023 list, and more recently, the #3 insurtech to watch in 2024 by PropertyCasualty360. For more information, visit www.coverwhale.com. Stay updated with Cover Whale on LinkedIn, Facebook, Instagram, and our blog.

About Morgan Stanley Expansion Capital

Morgan Stanley Expansion Capital is the growth-focused private investment platform within Morgan Stanley Investment Management. Morgan Stanley Expansion Capital targets growth equity and credit investments within technology, consumer, healthcare, and other high-growth sectors. For over three decades, Morgan Stanley Expansion Capital has successfully pursued growth investment opportunities and has completed investments in over 220 companies, leveraging the global brand and network of Morgan Stanley.

Media contact:
[email protected] 

SOURCE Cover Whale

• Over 2,300 startups have applied to participate in Decelera Menorca, which celebrates its 10th edition
• The fund organizing the event, Decelera Ventures, has raised 38 million euros in the last year to invest in tech startups focused on sustainability

MENORCA, Spain, May 22, 2024 — This week 20 startups will gather in Menorca for 10 days to meet with mentors and investors. The organization selected the 20 finalist startups from over 2,300 applications worldwide, a 35% increase over last year’s applications.

Startups at Decelera Menorca can access up to 300,000 euros in investment to boost their projects. Decelera Ventures, the early-stage fund behind the organization, raised 38 million euros last year and has a portfolio of 19 companies. The fund plans to invest in over 50 projects in the next 3 years, with tickets of up to 300,000 euros, and provide follow-up support.

Decelera Ventures is the world’s first ‘decelerator’. At this event, founders step out of their day-to-day, to gain new perspectives, prepare for their next phase of growth and connect with investors. Since 2015, when the first edition was held, over 10,000 startups from more than 95 countries have applied to Decelera.

During the program, more than one hundred Experience Makers and over fifteen venture capitalist and international investors will learn about the 20 finalist startups, which include the global talent community Nova, credit building platform through remittances for African immigrants Kredete, platform connecting companies and university students U4IMPACT, dating platform Flamme, AI tech company Aitaca, 3D printing software developer Ziknes, property management software Praefy, platform for energy providers Quixotic360, and subscription management platform Emendu, automate invoices and delivery notes using AI, Dost, among others.

Among the prominent attendees are names from the entrepreneurial ecosystem: Bernat Farrero (Factorial and Itnig Podcast), Marta Zaragoza (Declarando), Pepe Borell (Deale), Rui Stoffel (BusUp), Alvaro Dexeus (Pleo, Ex-Deliveroo), Laura Esnaola (Care with Care), Sean Cook (Ex-VP of Mailchimp), Mike Landman (Ripple), Philippe Gelis (Kantox), Laura Urquizu (Red Points), Oriol Vila (Hola Luz), Tim Varner (Whitelabel).

The event is supported by global entities and local companies such as the Menorca Tourism Promotion Foundation, Sancus Capital, Julius Bär, Son Parc Hotels & Golf, San Miguel, Funq, Fibralink, Gin Xoriguer, Cacahuete, Owners Car, Queso Mahón, Carolina Carreras, Agua de Menorca, El Paladar, and Can Senylaet.

SOURCE Cision Portugal SA

• Additional funding will be used to explore novel biology around the MMR pathway and accelerate progression of the lead program into candidate selection

LONDON, May 22, 2024 — NeoPhore Limited, a small molecule neoantigen immuno-oncology company, today announces that Bristol Myers Squibb (NYSE: BMY) has joined its oversubscribed Series B extension round.

The additional investment from Bristol Myers Squibb will enable NeoPhore to explore novel biology associated with the DNA mismatch repair (‘MMR’) pathway in cancer, as well as further progress its pre-clinical studies and deliver a candidate drug in 2025.

NeoPhore is focused on building a pipeline of small molecule drugs targeting novel proteins across the MMR pathway to generate next-generation immuno-oncology therapeutics to improve clinical outcomes for cancer patients. Its first-in-class MMR inhibitors induce neoantigen expression and increase immunogenicity in solid tumours that become exquisitely sensitive to immunotherapy.

Dr Matthew Baker, Chief Executive Officer of NeoPhore, said: “We are thrilled to have Bristol Myers Squibb, an innovator in the immuno-oncology space, join our oversubscribed Series B extension round. The funding strengthens NeoPhore’s position and enables us to complete the necessary pre-clinical studies to deliver a candidate drug for our lead PMS2 program in 2025.”

Dr Robert James, Chairman of NeoPhore, said: “The addition of Bristol Myers Squibb to the Series B extension supports NeoPhore’s novel approach to targeting the MMR pathway with small molecule inhibitors to treat cancer. Building on NeoPhore’s successes in 2023, we hope to see a year of progress for the Company’s pre-clinical programs”.

NOTES TO EDITORS

About NeoPhore Ltd

NeoPhore, UK is focused on the discovery and development of novel small molecule therapies to treat cancer through stimulation of the immune system. Generation of cancer neoantigens in tumours can be exploited by the patients’ immune system to overcome natural defence mechanisms in cancer. The Company’s approach targets the DNA mismatch repair (MMR) pathway, which has been proven to promote neoantigen creation and subsequent immunity against numerous cancers. Using these insights, NeoPhore aims to generate next-generation immuno-oncology therapeutics to improve clinical outcomes for cancer patients. NeoPhore was spun-out of the University of Turin and PhoreMost Ltd by the CRT Pioneer Fund. For more information, please visit www.neophore.com

About Bristol Myers Squibb Company

Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop, and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook, and Instagram.

SOURCE NeoPhore

SINGAPORE, May 21, 2024 — OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced its strategic investment in Monad Labs, which is developing a developer-forward smart contract platform that is poised to revolutionize the decentralized digital landscape.

This investment underscores OKX Ventures’ commitment to supporting innovative projects at the forefront of blockchain technology and decentralized ecosystems.

Monad Labs, a leader in innovation, offers a revolutionary platform that scales Ethereum by 1000x through parallel execution and superscalar pipelining of Ethereum transactions. By combining advanced technologies with a focus on scalability and efficiency, Monad Labs is pioneering a new era in decentralized computing, enabling developers and users to fully harness the potential of Web3.

OKX Ventures Founder Dora Yue said: “Monad Lab’s innovation and technical strength will provide a solid foundation for promoting Web3 innovation. We look forward to making a positive contribution to the future development of decentralized computing through our partnership with Monad Labs. OKX Ventures’ investment will provide Monad Labs with the necessary resources and support to accelerate the development of its platform, expand its influence in the blockchain community, and provide more efficient and scalable decentralized applications for developers and users worldwide.”

OKX Ventures’ investment will equip Monad Labs with the resources and support needed to accelerate the development and adoption of its platform. Monad Labs aims to enable developers to build high-performance decentralized applications (dApps) that can scale to meet the demands of mass adoption, ushering in a new era of innovation and accessibility in the blockchain space.

Monad Labs CEO Keone Hon said: “We are delighted to welcome OKX Ventures as a strategic partner in our effort to accelerate the capabilities and adoption of decentralized apps. OKX Ventures’ expertise and vision align perfectly with Monad’s mission to unlock the full potential of decentralized computing. Our team looks forward to collaborating to boost the growth and adoption of Monad tech.”

As a prominent investor in the blockchain sector, OKX Ventures remains dedicated to identifying and nurturing projects that demonstrate the potential to drive positive change within the industry. The investment in Monad Labs reflects OKX Ventures’ confidence in the team’s technology and vision, as well as its dedication to fostering sustainable growth in the blockchain ecosystem.

For further information, please contact:
[email protected]

About OKX Ventures

OKX Ventures is the investment arm of global leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD100 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

MIAMI, May 21, 2024 — Blackridge is a distinguished private investment firm that has been pioneering volatility based investing since its inception in 2019. It is renowned for its expertise in identifying and leveraging disruptive technologies, innovation, and global economic advancements.

We seek to create positive economic impact and long-term value for our investors, the companies we invest in and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses include investment vehicles focused on private equity, real estate, public debt and equity, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.

Blackridge manages a portfolio exceeding $1.7 billion in private capital, committed to delivering sustained returns for its esteemed roster of public and private institutional clients. It is now transitioning into the United Arab Emirates market too.

At the helm of Blackridge is Nathan Gauvin, its visionary Founder, CEO and CIO, boasting over seven years of executive leadership within the alternative investment domain. His strategic foresight, operational prowess, and relentless pursuit of innovation have been pivotal in propelling the firm’s trajectory of growth and success.

Before establishing Blackridge, Nathan served as an Investment Partner at Andreessen Horowitz (a16z), where his contributions shaped deal flow, investment strategies, and venture direction. Additionally, his co-founding role at TaxBit in 2017, followed by its successful sale in 2019, underscored his entrepreneurial acumen and ability to drive value creation.

Guided by a steadfast commitment to market insight and forward-looking analysis, Blackridge’s investment strategy revolves around identifying emerging trends and opportunities poised to drive productivity and foster wealth creation. 

Anchored by a rigorous, research-driven approach, Blackridge harnesses the collective expertise of its in-house research and quant team to unearth actionable insights and capitalize on lucrative investment prospects. 

Central to Blackridge’s investment philosophy is the recognition that disruptive technologies, innovation, and global economic advancements serve as primary catalysts for sustained growth and value creation in the long term.

Blackridge’s investment mandate is comprehensive and diversified, spanning a diverse array of asset classes and geographies. From private equity and private credit to equities, options, public debt and equity, growth equity, opportunistic investments, non-investment grade credit, real assets, and secondary funds, the firm’s multi-asset approach enables the crafting of bespoke investment portfolios tailored to the unique needs and risk appetites of its institutional clients.

Moreover, Blackridge places a paramount emphasis on risk management and capital preservation, employing sophisticated risk analytics and stress-testing models to vigilantly monitor and mitigate portfolio risk. 

By maintaining a disciplined approach to portfolio construction and asset allocation, Blackridge ensures that its investments remain resilient in the face of market volatility and economic uncertainty, thereby optimizing risk-adjusted returns for its clients.

A cornerstone of Blackridge’s competitive edge lies in its dedication to cutting-edge research and technology. Bolstered by a robust in-house research and quant team comprising 30 seasoned professionals, the firm remains at the forefront of innovation, developing bespoke algorithms, software solutions, and technology management services tailored to the unique needs of hedge funds, banks, and large institutions.

This steadfast commitment to innovation and technology affords Blackridge a distinct advantage in the fiercely competitive landscape of alternative investments. As part of its strategic growth initiatives, Blackridge is actively exploring opportunities to expand its global footprint and investor base. 

Blackridge’s forthcoming transition from the United States to the United Arab Emirates signals a strategic pivot toward emerging markets, poised to capitalize on the vast potential and burgeoning opportunities within these regions.

Concurrently, Blackridge remains vigilant in evaluating strategic locations worldwide to further diversify its operations and investment portfolio, thereby solidifying its position as a global leader in alternative investments.

Contact:
Paula Henderson
561-768-4444
[email protected]

SOURCE Blackridge

SANTA CLARA, Calif., May 21, 2024 — In a groundbreaking development for the logistics industry, Roambee introduces the world’s first true 5G GPS ‘peel-and-ship’ smart label, rapidly embraced by leading Global 2000 brands. This 4-inch x 6-inch smart label offers a revolutionary ‘barcode-like’ user experience, leveraging advanced 5G, GPS, and NIST calibrated sensors for temperature, humidity, shock, and light. Designed for single-journey applications, its disposable nature provides enterprises with unprecedented real-time visibility into secondary distribution networks, direct-to-customer deliveries, and end-to-end product flow insights, where traditional reusable trackers fall short.

By seamlessly integrating with Roambee’s cutting-edge unified visibility platform, the solution offers accurate & timely insights into ETA, Quality, and Security of shipments across 100% of the supply chain. This innovative solution is designed to cater to the needs of Global 2000 Enterprises including 3PLs, addressing the crucial demand for real-time visibility into time-sensitive and high-value shipments across local and global customer locations, regardless of the transportation mode or the distribution leg.

“Mondelez is highly quality-driven when it comes to cater to high customer-service standards which includes its logistics and cold chain operations. Forecasting On-Time, In-Full and Quality of goods deliveries is thus key to our efficient transportation fulfillment operations. Roambee’s supply chain intelligence, powered by its smart label technologies, enables us to analyze and respond to real-time and historical trends by lane, transporter, seasonality, and more, to ensure the availability of quality product on shelf,” shared Gurpreet Singh, Logistics Project Manager at Mondelez International.

On the value it adds to 3PL companies, Atsushi Tsuchiya, Senior Expert, Digital – R&D (Data ＆Agile Team) at Yamato Transport, the No.1 Delivery Service Company in Japan, said, “At Yamato Transport, we ship upwards of 2.3 billion parcels annually. The introduction of Roambee’s smart label is a potential game-changer in our efforts to safely deliver our customers’ important packages. This infrastructure-free application can allow our B2B customers to effortlessly and cost-effectively track and trace packages. The innovation eliminates the typical deployment challenges associated with visibility solutions, revolutionizing parcel logistics.”

The label’s peel-and-ship experience mimics the simplicity of using a barcode label while eliminating the need for infrastructure like printers. This prevents alterations to existing shipping processes. Global connectivity through 5G offers flexibility in updating tracking frequencies to suit various logistical needs. Its NIST calibrated temperature sensors ensure pharma-grade compliance for live tracking with minimal variance. The label’s versatility extends to its ability to track shipments of any size or type, including FTLs, FCLs, LTLs, LCLs, and parcels, emphasizing its adaptability across the supply chain. A simple peel-to-activate mechanism after sticking it on the load guarantees activation.

The smart label conforms to standard shipping label dimensions for seamless unification with shipping labels. The shipper can affix a shipping label upon Roambee’s smart label with ease. It also negates the need for customs declarations, streamlining logistics process. The smart label & platform further aligns with Roambee’s environmental commitment, aiding in accurately calculating & reducing Scope 3 Emissions, and promoting a greener supply chain. 

“Roambee’s smart label and platform revolutionize product delivery to third-party destinations,” remarked Sanjay Sharma, CEO of Roambee. “They boost retail forecasting with precise product flow insights and issue critical alerts for time-critical component deliveries, ensuring necessary site services are promptly activated upon arrival. The technology also streamlines cross-border logistics, offering automated, physical, and electronic proof of delivery (ePOD). With its wide-ranging applications for direct customer deliveries and secondary and tertiary distribution networks, Roambee seizes a first-mover advantage in a market opportunity exceeding $65 billion.” 

Roambee’s smart label marks a significant milestone in the evolution of logistics and supply chain management. By offering an unmatched level of real-time visibility and control over shipments, Roambee reaffirms its position as a leader in logistics innovation. This launch not only represents a significant advancement in technology but also aligns with Roambee’s vision to make supply chains more transparent, automated, and sustainable. 

About Roambee

Roambee is a supply chain visibility & intelligence provider enabling on-time, in-full, in-condition delivery of shipments and assets anywhere in the world. 300+ enterprises are improving customer experience, service levels, product quality, order-to-cash cycles, business efficiencies, sustainability, and automating logistics with Roambee’s real-time insights & foresights. More than 50 of them are the top 100 global companies in the Pharma, Food, Electronics, Chemicals, Automotive, Packaging & Containers, and Logistics sectors. Roambee’s innovative AI-powered platform, and end-to-end monitoring solutions, deliver reliable business signals built on item-level, firsthand IoT sensor data and non-sensor inputs. The outcome is 70% better multimodal ETAs, OTIF deliveries, 80%+ cold chain compliance, and more, including 4X+ ROI on supply chain asset performance. To learn more visit, https://www.roambee.com.

Media Contact

Premsai Sainathan
Vice President – Growth
+1 (408) 461-5221
[email protected]

SOURCE Roambee

NASHVILLE, Tenn., May 21, 2024 — Wayspring, a value-based care entity focused on substance use disorder (SUD) populations, today announced a capital raise led by CVS Health Ventures. The investment recognizes Wayspring’s impactful approach to managing populations with SUD, showcasing the need for innovative care models. Existing investors including Valtruis (portfolio company of Welsh, Carson, Anderson & Stowe), HLM Venture Partners, and .406 Ventures all participated in the funding round.

Justin Brock, Executive Director and Partner at CVS Health Ventures, highlighted the strategic nature of the investment, “Wayspring has demonstrated an exceptional ability to execute a complex care model that profoundly impacts the lives of those with substance use disorder. We are impressed by the early results and will collaborate with Wayspring to continue addressing a critical need in healthcare.”

The capital will be used to expand the reach of the SUD Home program within current Wayspring states and into select new markets. This program integrates clinical care with a deep understanding of social determinants of health (SDOH) and aims to ensure that comprehensive, value-based care is both accessible and readily available to those who need it. The SUD Home program provides tailored, comprehensive solutions that address the unique needs of each member, significantly improving outcomes and reducing healthcare costs.

Carter Paine, CEO of Wayspring, expressed his gratitude and optimism regarding the partnership: “We are immensely grateful for the support from CVS Health Ventures as we expand our proven SUD Home model. This investment reinforces our mission to enhance lives through advanced, compassionate care strategies. With the backing of CVS Health Ventures, we are poised to drive significant advancements in the treatment of substance use disorders, reshaping the delivery of care by making holistic, patient-centered care more widespread and accessible.”

Wayspring has partnerships with health plans across eight states with plans to launch its SUD Home services in two new states in 2024.

For more information about Wayspring and the SUD Home model, please visit wayspring.com.

About Wayspring
Wayspring is a value-based healthcare organization that provides medical, behavioral health, and social support services to people with complex needs. With a focus on people living with substance use disorder, Wayspring utilizes a comprehensive and longitudinal model that incorporates targeted member outreach, strategic provider partnerships, community-based peer support, and delivery of clinical services. Through this unique approach, Wayspring produces increased adherence to evidence-based medicine, decreased healthcare waste, and improved health outcomes. For more information, please visit wayspring.com. 

About CVS Health Ventures

CVS Health Ventures is a dedicated corporate venture capital fund that works with high-potential, early-stage and growth-stage companies focused on making health care more accessible, affordable, and simpler. The company focuses on investments that transform care delivery and focus on whole person care, consumer-centric health, and disruptive technology enablement. CVS Health Ventures’ goal is to enable promising entrepreneurs to scale more quickly and effectively through access to their unmatched enterprise capabilities and consumer touchpoints, while offering expertise and insights from their company’s unique perspective. For more information, visit cvshealthventures.com

SOURCE Wayspring