ATLANTA, June 4, 2024 — Nexus Cognitive, a leading innovator in enterprise Data & AI foundations, announced the successful closure of an investment from global technology investor Insight Partners. This investment underscores Nexus Cognitive’s emergence as a transformative force in the realm of enterprise data platforms.

The new funding comes on the back of Cloudera’s announcement that Nexus Cognitive was awarded 2024 Emerging Partner of the Year. Nexus Cognitive will use the funding to accelerate channel partnerships and continue to develop the offering and out-of-the-box IP to provide more transformative outcomes driving business value.

“Anu and his team have built a robust offering that fulfills complex needs in the evolving and increasingly important Data & AI space,” said Insight Partners Vice President Richard Matus, who will join Nexus Cognitive’s board. “We were attracted to their ‘Do It For Me’ platform-agnostic approach that supports customers with a turnkey solution for operations and maintenance of a modern data stack-as-a-service, freeing up valuable resources and removing the need to recruit in-demand data engineers, architects, data scientists and other technical talent.”

Nexus Cognitive’s primary offering, NexusOne, is a managed data-as-a-service platform that can work with any cloud and existing leading data platform, including Cloudera, AWS, Azure, Databricks, Snowflake, and open-source components in a holistic model. NexusOne leverages a universal control plane to manage all resources required to increase revenue, reduce cost, and manage risk and compliance efficiently. The platform runs the data and AI foundation, driving use cases like dynamic pricing, new business line expansion, credit risk management, and supply chain cost reduction.

“Whether you are immature with data, looking to migrate to the cloud, or already cloud-savvy, the NexusOne platform can get you online in weeks, not months, to solve the data-driven needs of your business,” said Anu Jain, founder and CEO of Nexus Cognitive. “We heard from customers that the hourly rate card approach of services firms led to unpredictable expense and frustrating cost over-runs, and we use a combination of software and services to deliver a purpose-built solution at a predictable price.”

Nexus Cognitive supports needs across industries ranging from financial services, government, retail, and manufacturing. The Small Business Financial Exchange (SBFE), a trade association of over 135 US lenders, trusts the NexusOne platform to store its members’ credit payment performance data and to transmit the data to credit reporting agencies for loan underwriting and risk management purposes.

“NexusOne has been instrumental in revolutionizing the way we manage our data,” said Elisabeth MacDonald, CEO of SBFE. “The platform’s streamlined workflows and analytics capabilities empower our teams to make data-driven decisions faster than ever before.”

As part of the transaction, Narendra Mulani will join the company’s board of directors. Narendra previously built and led the Accenture AI & Analytics business, developing the Accenture AI Platform (AIP) that integrated out-of-the-box software assets into a managed services architecture. Jean-Luc Chatelain, former Global Chief Technology Officer of AI at Accenture, has been retained by the company as an advisor.

For more information about Nexus Cognitive and its innovative solutions, visit www.nexuscognitive.com

About Nexus Cognitive: 
We are innovators in the world of data and analytics, dedicated to unlocking the full potential of your data. NexusOne is our tech-enabled managed service for big data infrastructure that combines cutting-edge technology with deep industry expertise to deliver comprehensive, tailored solutions. Our mission is to enable your business to harness the power of big data, transforming complex data sets into actionable insights that disrupt your industry and deliver a competitive advantage. We handle the heavy lifting of big data management and governance so you can focus on making informed, strategic decisions that drive growth and innovation.

About Insight Partners:
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2023, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.

SOURCE Nexus Cognitive

SciTech accelerates its mission to bring ST-001 to cancer patients.

GROSSE POINTE FARMS, Mich., June 4, 2024 — SciTech Development, a clinical-stage, specialty oncology pharmaceutical company, today announced it has closed an additional $3.2 million in funding to continue the active enrollment and dosing of patients in its ongoing clinical trial for T-cell non-Hodgkin lymphoma (T-NHL).

This new funding brings SciTech’s total raised to over $12 million. SciTech’s financing was led by Storm Lake Capital and Pointe Angels, alongside new and existing accredited investors. Proceeds from the financing will be used to advance the company’s Phase 1b clinical trials of ST-001 for T-NHL and subsequent clinical trials for small cell lung cancer.

“On behalf of Storm Lake Capital, we are thrilled with the initial clinical progress made by SciTech Development and pleased to further support the company through additional investment in its latest convertible note round.” said Todd Carlson, Partner, Storm Lake Capital. “As early supporters, we have closely monitored SciTech’s advancements, noting its adept handling of challenges and disciplined resource management. We value the management team’s integrity and look forward to their continued success.”

SciTech’s T-NHL trial began with the first patient dosed in late 2023 and is being conducted at six (6) prestigious cancer institutions located across the United States in PA, NY, TX, MI, and CA, with additional sites being added. Patient enrollment is now open. Trial information, including criteria and site locations, can be found at ClinicalTrials.gov with the identifier NCT04234048. SciTech anticipates starting a second Phase 1b small cell lung cancer (SCLC) trial to run concurrently with the T-cell lymphoma trial.

“SciTech has achieved yet another milestone of having oversubscribed its second Convertible Note Round (CNR) of financing. This is a perfect reflection of the progress that has been made by our dedicated team. Our multicenter clinical trial is to reconfirm the safety and efficacy of the active drug, fenretinide, utilizing SciTech’s novel nanoparticle delivery platform.” said Earle Holsapple, CEO of SciTech. “We have opened a third CNR to continue advancing the Phase 1b studies for T-NHL and small cell lung cancer. In parallel, the company will launch a Series A capital raise to fund the completion of both trials and file for commercial approval with the FDA. We are confident that the drug’s potential will soon be realized.”

ST-001 is SciTech’s patented lead drug product, formulated with the active drug fenretinide (a synthetic retinoid derivative) plus specific phospholipids in a nanoparticalized delivery platform (SDP). ST-001 has achieved a breakthrough in solving the bioavailability issues of fenretinide without system-related toxicities, which allows the drug to reach and kill cancer cells. The FDA has granted ST-001 an Orphan Drug Designation, allowing 7 years of market exclusivity once approved.

T-cell lymphoma, a rare disease, is being utilized as the initial gateway indication for ST-001 as the company plans to establish a foothold in other cancer indications. Previous studies with fenretinide have shown promise in at least 15+ other types of cancers, such as lung, breast, ovarian, cervical, pancreatic, leukemia, colo-rectal, head & neck, and brain cancers. These additional indications, plus the potential to add ST-001 as combination therapy, may add significant value to address the unmet clinical needs in oncology.

About SciTech Development
SciTech Development is a clinical-stage, specialty oncology pharmaceutical company that is revolutionizing how safe and promising yet challenged drugs can be delivered to kill cancer. With innovative science and advanced nanotechnology, SciTech has developed ST-001 nanoFenretinide, a patented formulation that is currently in clinical trials for T-cell lymphomas (a form of non-Hodgkin lymphoma). ST-001 has been granted Orphan Drug Designation by the FDA, which allows 7 years of market exclusivity once approved. In addition, SciTech’s nanoparticle drug delivery platform (SDP) maximizes the bioavailability of water-insoluble therapeutics and can potentially develop new drugs or improve other similarly challenged drugs.

To learn more about SciTech, the science, and the team, please visit www.SciTechSDP.com. 

Contact:
SciTech Development: Investor Relations
David Schaffer
[email protected] 

Safe Harbor and Forward-Looking Statement: This document contains certain forward-looking statements that involve risks and uncertainties. Such forward-looking statements include statements regarding attempts to identify new products, services, or strategic opportunities, which may include a strategic transaction, plans regarding partnering activities, service pricing, or financial forecasts. Such statements are only predictions, and the Company’s actual results may differ materially from those anticipated in these forward-looking statements. Factors that may cause such differences include the risk that the Company may not be able to identify acceptable strategic opportunities or conclude any identified strategic transaction, the risk that products or services that appeared promising in early use do not demonstrate the same utility in larger-scale uses or trials, the risks associated with the Company’s reliance on outside financing to meet its capital requirements, and the risks associated with the Company’s reliance on forward-looking contracts. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underly the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include but are not limited to, the effect of government regulation, political, environmental, competitive, and/or other material risks.

SOURCE SciTech Development

Unveils Retail RMEDI 360 Platform, Redefines Shopper Experience with Seamless Integration of Trusted Product Education

CHICAGO, June 4, 2024 — A pioneer in expert product education, The Desire Company has concluded its Series B funding round, catapulting its valuation to $97 million. This funding infusion positions the company to capitalize on the escalating demand for authentic, expert-driven content, particularly from Retail Media Networks (RMNs) and is timely given the Federal Trade Commission’s heightened focus on transparent marketing practices.

The funding coincides with the debut of The Desire Company’s Retail RMEDI 360 (Retail Media Expert Distribution Ignitor). The platform is designed to enable brands and retailers to seamlessly integrate expert product education throughout the shopper experience, empowering consumers with valuable information to make informed purchasing decisions.

Through its unique approach to educating shoppers about products, The Desire Company has driven results for over 80 brands. Clients have reported a 12x conversion boost, 62% increase in time on-site, and 25% growth in average order size.

“With the close of our Series B raise, and the launch of The Desire Company’s Retail RMEDI 360 platform, we’re not just introducing a new product, we’re setting a new standard for retail media technology,” said Eric Sheinkop, Co-Founder and CEO of The Desire Company. “Brands and retailers are seeking to expand beyond their traditional commerce media models and integrate trusted product information directly into their shopper’s purchasing journey. Our platform promises to transform how shoppers access product education at the crucial point of decision.”

The Retail RMEDI 360 platform offers brands and retailers access to a comprehensive suite of tools and seamless integration, streamlining the management and distribution of expert-driven video content.

Key features include:  

• Content Integration Across Consumer Journey: Seamlessly embed expert-driven video content into every part of the consumer journey, from social media to product detail pages (PDP), email, and SMS for post-purchase engagement.
• Shoppable QR Codes for In-Store Use: Generate unique QR codes, enriching the in-store shopper experience through access to expert product education content.
• Analytics Dashboard: Gain valuable insights into video performance, allowing clients to optimize their content strategy and drive engagement effectively.

The go-to expert-driven product review partner for prominent brands and retailers, The Desire Company boasts an extensive network of experts spanning 114 verticals. From Olympic athletes to renowned chefs, leading nutritionists, veterinarians, and makeup artists, Desire Co. experts bring credibility and expertise, sharing real-world experiences in authentic video reviews.

Led by Cleveland Avenue LLC and supported by Valor Siren Ventures, the funding will fuel expert community expansion, and elevate production capabilities to meet RMN demand growth.

Jon Shulkin, Co-President, and Partner at Valor Equity Partners, expresses his confidence in the company’s unique approach, stating, “As brands increasingly reallocate their advertising investments towards Retail Media Networks, we believe The Desire Company is poised to capitalize on their demand for product education content that drives results at retail. To us, their expert review solution stands out for its authenticity, cost-effectiveness, and proven efficacy.”

Co-founded by entertainment marketing executive Eric Sheinkop, and Coca-Cola Company veteran Judith Levey Sheinkop, The Desire Company disrupts the retail marketing landscape by prioritizing credible industry experts over social media influencers. CEO Eric Sheinkop emphasizes, “By pairing brands with credible industry experts, The Desire Company empowers shoppers to be informed, not influenced. As the only provider of authentic expert product review videos, we stand as the reliable solution to combat the proliferation of fake reviews.”

“On behalf of the Chicago business community, I extend heartfelt congratulations to Eric Sheinkop and Judith Levey Sheinkop for their pioneering work with The Desire Company,” said Phil Clement, President & CEO, World Business Chicago. “Their innovative approach to retail marketing—prioritizing credible industry experts over traditional influencers—empowers consumers to make informed decisions in a marketplace often cluttered with misinformation. This venture not only exemplifies Chicago’s spirit of innovation but also sets a new standard in consumer transparency and trust.”

RMNs represent the most significant development in advertising since the inception of digital advertising 30 years ago. According to WARC Media, RMNs are expected to grow 10% in 2024 to $141.02 Billion in ad spend, eclipsing linear television within a few years. In 2024, RMN ad spend will represent 20% of the market according to Advertiser Perceptions. A Deloitte survey revealed that 64% of U.S. Retailers plan to implement a RMN by the end of 2024.

About The Desire Company:

The Desire Company is the leading provider of expert-driven product review videos. With a mission to help shoppers make confident purchase decisions, The Desire Company provides consumers with authentic insights into the products they’re shopping for. The Desire Company’s community of credible industry experts share their hard-earned knowledge and experience to ensure that shoppers are informed, not influenced. desireco.com

About Cleveland Avenue:

Cleveland Avenue is a global venture capital firm that invests in lifestyle consumer brands and technology companies that positively disrupt large and growing markets. To learn more, visit clevelandavenue.com

About Valor Equity Partners:

The Valor Siren Ventures (VSV) mission is to be the leading innovation engine and investor in early-stage food, food technology, retail, and retail technology investing. Rooted in Valor’s history of food and retail technology, Valor believes there is an opportunity to develop a new model for venture investing with VSV. Our team aspires to create value by generating differentiated investment opportunities, applying our intellectual capital, and accelerating the growth of portfolio companies through operations assistance in scaling. valorep.com

Media Contact:
Judith Levey Sheinkop
[email protected]
404-547-4537

SOURCE The Desire Company

Data-driven Edtech platform powered by Generative AI receives $750k in pre-seed funding to revolutionize college planning and admissions for students across the U.S. and the world

PALO ALTO, Calif., June 4, 2024 — Kollegio, the AI-driven platform for college applications, has opened early access to over 4,000 waitlisted students who are seeking an easier and more effective path to apply to higher education. This marks Kollegio as the first-ever college counseling platform to accelerate the application process with assistance from AI, making applying to college more accessible for students everywhere. Kollegio is kicking off the first cohort of student users with $750k in pre-seed funding led by Tuesday Capital, Reach Capital, and Indus Valley Capital. Kollegio’s angels include individuals such as the CTO of Liveramp, the former CEO of Byte, and the CEO of Party Gaming.

According to data from the American School Counselor Association, the national student-to-school-counselor ratio was 385:1 in 2022–2023. Additionally, the average cost to hire a private college counselor in the U.S. ranges anywhere from $5,000-$100,000+. Kollegio offers the same selection of services to students at an extreme fraction of the price of a private counselor; from free of charge to a maximum of a $10 AI cover charge for power users of the platform, less than 1% of the human cost.

Planning and applying for college is a lengthy and disjointed process; from differing submission dates to varying admission essay prompts. Kollegio keeps track of all the details and creates internal goals to guide students through deadlines. AI-powered conversations help students brainstorm essay topics based on each university’s specific prompts and provides them personalized feedback as they progress. This tailored support is available 24/7 to match each student’s work style and maximize their chances of admission. Most of all however, Kollegio is focused on creating ethical solutions that empower students, rather than just doing the work for them.

“Kollegio was designed to ethically democratize the college admission process. Those who can pay thousands of dollars for personalized college counseling for their students are a minority in the big picture,” says Kollegio CEO and Co-founder, Senan Khawaja. “Kollegio is leveling the playing field for every student with university aspirations by providing tailored assistance for a tiny fraction of the cost of private counselors. Colleges will have access to a greater selection pool of qualified and driven students”

“Many counselors, particularly those serving public high schools, are overwhelmed; from the number of students they are helping to the vast amount of information they need to pull for any possible university they want to apply to,” says Saeed Naeem, Kollegio CTO and Co-founder. “With our data-driven AI, Kollegio can act as a counselor’s sidekick, helping create tailored applicant profiles then matching students to their best university options. All of a sudden a service that previously cost thousands or tens of thousands is available at the fingertips of every student in the world.”

To learn more about Kollegio, please visit www.kollegio.ai

About Kollegio
Kollegio leverages AI and data-driven solutions to make college counseling accessible and affordable to all students, so they may pursue their academic dreams. Led by a team of AI experts and college advisors, they have created a comprehensive platform that guides students through every step of the university application journey. Kollegio helps match students to the best schools based on personalized data and provides feedback on admission essays to help craft standout applications. Kollegio was designed to benefit not just students but also schools and colleges. Get started today by visiting: https://www.kollegio.ai/

Press Contact
Rick Medeiros
[email protected]
(510) 556-8517

SOURCE Kollegio

LONDON, June 4, 2024 — Hakluyt Capital, the investment arm of Hakluyt – the global strategic advisory firm for businesses and investors – has announced the final close of its first investment fund, exceeding its target raise of $50 million.

This comes as Hakluyt Capital announces the creation of a new advisory board, which will work with the investment team and enhance the support offered to portfolio companies. The first members of the advisory board are Adam Bain, co-founder and managing partner at 01 Advisors, and former COO of Twitter; Somesh Dash, general partner at IVP; Mamoon Hamid, partner at Kleiner Perkins; and Matthew Clifford CBE, co-founder of Entrepreneur First and chair of the UK’s Advanced Research and Invention Agency. Between them, the advisory board members bring decades of experience of making high-profile investments and scaling many of the world’s leading technology companies.

Hakluyt Capital invests in some of the world’s most promising growth-stage companies, always alongside one of the top-tier venture and growth funds. Through access to Hakluyt’s unrivalled network, the fund enables companies to navigate tricky regulatory challenges, reach decision-makers at potential customers, build relationships with senior advisers and contacts who can facilitate the next stage of their growth, and explore possible exits to strategic buyers.

The fund, led by co-founders Varun Chandra, Jamie Potts and Nick Bidmead, has made eight investments to date, including:

• Zipline, the world’s largest autonomous delivery system, specialising in on-demand drone delivery and instant logistics
• Viz.ai, an AI-powered care coordination solution that aims to accelerate the diagnosis and treatment of serious illnesses
• Tally, an application that works to eliminate credit card debt by helping customers manage repayments and save money
• Rippling, a cloud-based centralised HR software platform that streamlines the management of employees’ data and activity
• Calypso AI, a security company empowering international organisations to leverage generative AI and large language models (LLMs) safely
• Interos, a software company that works to map, monitor and pre-empt emerging and systemic risks hidden in manufacturing and cyber supply chains
• Alethea, an AI-powered platform that helps companies protect themselves from disinformation and social media manipulation

Hakluyt Capital’s chairman, Varun Chandra, who is also the managing partner of Hakluyt, said: “I am delighted that Hakluyt Capital has reached this milestone. We feel very lucky to have an amazing group of individuals, family offices and institutional investors as our backers, and we will do everything we can to repay their trust in us. I’m also thrilled that some of the leading thinkers in Silicon Valley and technology investing have agreed to join us on this journey as members of our advisory board. The combination of our in-house expertise and global connectivity, alongside best-in-class co-investors and this new group of advisers, makes us uniquely well placed to support dynamic founders in changing the world. A huge welcome, and thanks, from all of us at Hakluyt to Somesh, Adam, Mamoon and Matt.”

Adam Bain, of Hakluyt Capital’s advisory board, said: “Hakluyt Capital offers growth-stage companies access and advice at the highest level, thanks to the breadth and quality of its network, and the skills and experience of its in-house team. I’m delighted to have joined its advisory board, and look forward to helping more companies make the most of this opportunity to build their connectivity and unlock growth.”

Somesh Dash added: “The needs of start-ups and scale-ups in today’s world are increasingly complex. For years, Hakluyt’s network and advisers have provided invaluable support to companies looking to scale in highly regulated and competitive markets. I’m thrilled to be partnering with them in their new venture.”

Mamoon Hamid commented: “I’ve really enjoyed working with the Hakluyt Capital team on the investments we’ve made together. They are a high-quality, high-integrity group who are committed to adding value to the founders and CEOs they invest behind. It’s a pleasure to be part of their advisory board, and to continue to develop our partnership.”

Matt Clifford added: “I’ve known Hakluyt for many years as a leading strategic advisory firm, and it’s been exciting to witness the development of Hakluyt Capital over the last year. I’ve no doubt that the firm’s global perspectives and relationships around the world can add real value to the most exciting companies, and I’m looking forward to supporting the growth of the firm alongside Mamoon, Somesh and Adam.”

Notes to editors
Hakluyt Capital, which was founded in 2022, invests alongside leading venture capital funds, targeting Series B to D companies with high growth potential and international ambitions. Its parent company, Hakluyt, is a strategic advisory firm that works with corporate leaders and investors around the world on their most important commercial issues.

For more information on the fund, please visit www.hakluytcapital.com.
For more information on Hakluyt, please visit www.hakluytandco.com.

SOURCE Hakluyt

The company also launched the Ideation Room beta, which previews its vision to build the first end-to-end content platform, powered by AI and automation

NEW YORK, June 4, 2024 — Storyblok, the modern content management system (CMS) for all teams, today announced the close of its $80 million Series C financing, bringing the total amount raised to $138 million. Brighton Park Capital led the round, with participation from existing investors HV Capital, Mubadala Capital, 3VC, and firstminute capital.

200,000+ developers and marketers from leading brands such as Adidas, T-Mobile, Renault, and Oatly use Storyblok to consolidate content and create better digital experiences across all channels. Storyblok’s fully-remote team includes 240 people across 45 countries.

The new funding will further accelerate Storyblok’s growth in the US and Europe, enabling the company to fulfill its vision of building the first end-to-end content platform, powered by AI and automation.

Consistent with that vision, the company also announced today the public beta of the Ideation Room. This new capability provides teams a centralized and collaborative space within Storyblok where they can develop new ideas together at the beginning of the creation process, using AI to help improve content and bring it to life. “With a highly differentiated, easy-to-use platform, Storyblok is a leader in the CMS space, helping both marketers and developers to create content experiences across multiple channels quickly and efficiently,” said Kevin Magan, Partner at Brighton Park Capital. “We are proud to be Storyblok’s first US investor as the company continues its rapid expansion in the region. Dominik and the Storyblok team have created tremendous momentum in a short period of time, and we’re excited to support their continued growth.”

Ibrahim Ajami, Head of Ventures at Mubadala Capital, added: “We’ve been strong supporters of Storyblok since day one, and the speed at which the company has continued to scale since our Series A investment has been remarkable. Storyblok’s growth highlights the unique value of their product, and the continued backing from both developers and marketers underscores its quality. We are delighted to continue our partnership with the Storyblok team.”

Dominik Angerer, CEO and Co-Founder of Storyblok, said: “Consumers expect great and consistent content experiences wherever they are. But businesses are having a hard time keeping up. In fact, our research found that 48% of businesses are embarrassed by their website. Storyblok already helps thousands of teams to develop and deliver the modern content experiences people love, while also providing best-in-class ROI. With this new funding, we will invest in building AI and automation tools to help teams get value from their content even faster throughout the entire content lifecycle.”

Resources

About Storyblok

Storyblok is a content management system (CMS) that empowers businesses to become market leaders by accelerating content delivery and innovative digital experiences.

Storyblok helps you get value from your content faster by removing barriers between developer and marketing teams and offering an intuitive, scalable, and intelligent platform to deliver digital experiences from idea to success.

Leading brands such as Adidas, T-Mobile, Renault, Oatly, and 200,000+ other

developers and marketers across 130+ countries use Storyblok to create better content experiences.

See why Storyblok was named the #1 CMS by G2 at www.storyblok.com and follow Storyblok on LinkedIn and X.

About Brighton Park Capital

Brighton Park Capital is a Greenwich, Connecticut-based investment firm focused on entrepreneur-led, growth-stage software, healthcare, and tech-enabled services companies. The firm invests in companies that provide highly innovative solutions in partnership with great management teams. Brighton Park brings purpose-built value-add capabilities that match the unique requirements of each of its companies. For more information about Brighton Park Capital, please visit www.bpc.com.

Media Contacts
For Storyblok
Brandon Watts
[email protected]

For Brighton Park Capital
FGS Global
[email protected]

Photo – https://mma.prnewswire.com/media/2427273/Storyblok_Founders.jpg

SOURCE Storyblok

Award Brings Zum’s Total EPA Funding to $58 Million, in Support of National Clean Bus Initiative

REDWOOD CITY, Calif., June 4, 2024 — Zūm, the leader in modern student transportation, has been awarded $32 million from the U.S. Environmental Protection Agency’s Clean School Bus Program.

The funding, which brings Zum’s total awards from the EPA to $58 million, will enable Zum to deploy 117 electric school buses to its district partners across the U.S., including Branford Public Schools (CT), Reading Public Schools (PA), Alameda Unified School District (CA), Centinela Valley Union High School District (CA), Santa Barbara Unified School District (CA) and Spokane Public Schools (WA).

Additionally, Zum was waitlisted for $22.5 million to provide electric school buses for San Bernardino Unified School District, San Francisco Unified School District and Oakland Unified School District.

Overall, the EPA awards will enable Zum to deploy more than 200 electric school buses to school districts across the country. Made possible through President Biden’s Investing in America agenda, the grants will accelerate Zum’s transition to 100% electric school buses and expansion of its industry-leading AI-driven technology platform– a key tool in Zum’s effort to fully decarbonize the school bus industry and bolster the fight against climate change.

“We are entering a new era of student transportation, and we applaud the EPA’s commitment to improving the health of children and communities with cleaner, greener rides to and from school,” said Zum Founder and CEO Ritu Narayan. “I founded Zum with a mission to ensure all children have access to safe, reliable and sustainable transportation. This award propels our electrification efforts across the U.S., and we are honored to be part of this initiative.”

In January 2024, the EPA awarded Zum over $26 million to deploy electric school buses in school districts nationwide. In May, Zum announced that Oakland Unified School District will be the first major school district in the U.S. to transition to a 100% electrified school bus system with groundbreaking vehicle-to-grid technology.

Founded and led by a first-generation immigrant and mother, Ritu Narayan, Zum is reimagining the yellow school bus system through its innovative approach to digitization and electrification. Zum has unified parents, students, school administrators and drivers on a single personalized end-to-end technology platform, enabling never-before achieved levels of visibility and data-backed accountability, which has ushered in a new era of increased safety, reliability and sustainability for the school districts.

Zum manages and operates student transportation for school districts in 14 states, including California, Washington, Massachusetts, Maryland, Texas, Illinois, Tennessee, Nebraska, Pennsylvania, Virginia, Connecticut, and Missouri. To learn more about how Zum works with thousands of schools nationwide to deliver safe, reliable, equitable, and sustainable student transportation, please visit Zum’s website.

About Zum
Zum has modernized student transportation, the nation’s largest mass transit system, and developed sustainable ways to charge the grid. Zum’s robust operations and integrated end-to-end cloud-based platform provides a modern student transportation service for school districts purpose-built around the needs of kids and the expectations of modern families. Zum provides one seamless, real-time interface for parents, drivers, schools, districts, administrators, and operators to transport children safely and with increased visibility and personalized care. Always investing in the wellbeing of communities, Zum is also the only carbon neutral student transportation provider in the nation with plans to go Net Zero with its transition to EV electric buses. Zum is available nationwide, serving more than 4,000 schools across the U.S. Learn more at www.ridezum.com.

CONTACT:
[email protected]

SOURCE Zūm

AMSTERDAM, June 4, 2024 — Recruitment AI company Carv, today announced it secured $10M in seed funding, following the launch of its recruitment platform in March and the significant traction the company has experienced since. Among the investors are Global Founders Capital (GFC) and several independent angel investors who previously backed companies like Slack, Miro and Revolut. With the funding, Carv aims to accelerate its growth and expand the capabilities of its platform into different domains of the recruitment life cycle.

With its platform, Carv addresses one of the most pressing challenges in todays’ talent acquisition space: recruitment has become synonymous with administrative work. Industry data shows that anywhere between 20% to 40% of a recruiter’s day to day is spent on admin tasks; an unfortunate characteristic of the job that sits at the heart of many other challenges recruiters face. With Carv, these time-consuming admin tasks can now be fully delegated to a personalized AI, freeing up recruiters to focus on what matters most; the candidates they interact with. 

“We often talk about the future of AI in recruitment on an abstract level. With Carv we make it tangible.” says co-founder Barend Raaff. “Enabling recruiters to delegate the tasks they shouldn’t spend time on to Carv is a first step towards a reality of integrated AI. One that delivers instant benefits, and simultaneously opens the door to the fundamental rethinking of the hiring process in a later stage.“

In its current form, Carv is able to take on any admin task a recruiter may have. By joining meetings, taking in the context, and applying the style and tone of voice the recruiter would normally use, Carv is not only faster in execution but also able to hold a higher quality standard. From writing job descriptions and taking interview notes, to populating ATS systems and creating candidate write-ups, Carv can do it in seconds instead of hours.

But this is just a first step towards completing the vision the Carv founders have laid out. Once recruiters are accustomed to collaborating with integrated AI, the company envisions a push for true recruiter-AI synergy, aimed at bringing the human element back to the forefront of the recruitment process.

“In the years to come, AI will impact every stage of the hiring cycle. In a human-centric process like recruitment, finding the balance between humans and AI is key. With Carv, we’re working towards a reality where there’s optimal synergy between recruiter and AI. Where each takes on the tasks they excel in and strengthens each other in doing so.”

The team behind Carv is no stranger to recruitment innovation. The founding team previously built Harver, a market leader in digital hiring technology, and are now channeling their expertise and insight into Carv. Their track record and Carv’s current traction in the market have attracted significant investor attention, culminating in the substantial €10M seed round.

About Carv
Headquartered in Amsterdam, Carv is a fast growing innovator in recruitment technology. The company has developed an AI platform designed to streamline recruitment processes by automating administrative tasks traditionally handled by recruiters. Carv’s customizable solution empowers recruiters to work more efficiently and effectively, allowing them to focus on building meaningful connections with candidates and clients. Driven by a mission to foster synergy between recruiters and artificial intelligence, Carv is revolutionizing the way talent acquisition is approached.

To learn more about Carv and its AI-powered recruitment solutions, visit www.carv.com

Logo: https://mma.prnewswire.com/media/2428352/Carv.jpg

SOURCE Carv

Leading open innovation dairy competition returns for 6^th year with a search 
for innovative products tapping into the $5.6 trillion global Health & Wellness market¹

TRACY, Calif., June 3, 2024 — The California Milk Advisory Board (CMAB) today announced the return of the Real California Milk Excelerator competition, in partnership with innovation advisory VentureFuel, for a 6^th year with an emphasis on Health & Wellness startups. The competition, which focuses on accelerating value-added products using real milk, features an immersive mentorship program and access to non-dilutive capital and an innovation ecosystem for brand growth. The 2024 program also will feature a new Future of Dairy Expo event during the final pitch to bring together past winners and other industry leaders to showcase how real dairy fits the needs of the modern consumer.

The 6^th RCM Excelerator taps into the thriving Health & Wellness market, which has grown significantly since the pandemic and is projected to reach over $8.47 trillion by 2027, according to Statista. Given real dairy’s natural versatility of benefits and functionality, from nutrition and flavor to texture and chemical composition, this approach encourages innovation across product categories, all leveraging the versatility of the California dairy ecosystem.

The largest global dairy accelerator, the program is on the hunt for any company building innovative products – made with at least 50 percent real milk or dairy – that leverage the benefits of dairy to promote health, wellness, and general well-being. This includes, but is not limited to, better-for-you formulations, digestive health, cognitive function, functional ingredients, hydration, portion control, self-care, and anything in between. This year’s competition offers a value of up to $500,000 in prize and program value for products that introduce novel applications in any form and drive utilization of Real California dairy.

“Innovation is the lifeblood for all industries. Our investment in the Excelerator and the California Dairy Innovation Center continues to introduce new products and innovators/founders into the pipeline and relationship with Real California Milk,” said John Talbot, CEO of the CMAB. “With an overall market value of more than $5 trillion, the health and wellness focus make sense and allows us to hone in on startups that are leveraging the natural goodness of milk and its myriad benefits. Wellness for consumers is an everyday pursuit – whether physical or mental – and real dairy delivers. This is an exciting time to create products and we look forward to connecting with founders to take them to the next level.”

Over the past 5 years, the Real California Milk Excelerator has worked with more than 50 startups across categories as diverse as food, beverage, direct-to-consumer platforms, textiles, and personal care. Representing nearly 40 percent of states across the U.S., program alumni have gone from idea to distribution with organizations such as UNFI and KeHE; and many can now be found on the shelves of retailers like Walmart, Safeway, Kroger, Amazon, and Whole Foods.

Each of the eight participants selected for the 2024 cohort will have access to a group stipend and a robust network of resources to refine and scale their product and business. They will also participate in the three-month immersive CMAB/VentureFuel Mentorship Program, consisting of elite counsel from successful founders, investors, leading corporate executives, and experts across design, marketing, sales, manufacturing, distribution, farming, and processing industries. Past mentors have included venture capitalists, successful entrepreneurs, and executives from organizations like Unilever, UNFI and Mondelez to name a few.

“At VentureFuel, we are dedicated to driving innovation and fostering collaboration between forward-thinking organizations and disruptive startups,” said Fred Schonenberg, Founder and CEO of VentureFuel, a leading corporate innovation advisory and the CMAB’s partner since the launch of the Excelerator. “This year’s Real California Milk Excelerator represents a unique opportunity for innovators to come together with the CMAB to unlock the power of milk’s natural health benefits in a way that redefines the future of health and wellness.

“The Excelerator continues to be a catalyst for groundbreaking advancements in dairy. By providing unparalleled resources, mentorship, and access to buyers and investors, this accelerator empowers participating startups to scale their solutions and have a meaningful impact on the future of the dairy industry.”

The cohort will present their concepts at a live pitch event in November where four of the eight participants will receive $30,000 each to grow and expand their product in California and have access to an Investor/Buyer Virtual Roadshow. One participating company will unlock an additional $100,000 grand prize by establishing their presence in California and exhibiting the most promising growth within 12 months of the final competition.

The 2024 Real California Milk Excelerator celebrates the state’s role as the number one producer of dairy in the United States. California, also known for innovation, has a reputation for quality dairy products and leads the nation in sustainable dairy farming practices. More than 1,100 family dairy farms produce the milk found in fluid milk, cheese, butter, yogurt, ice cream, and other dairy products identified by the Real California Milk seal.

More details including competition rules, timeline and application are available at realcamilkexcelerator.com. The deadline to apply is July 2, 2024.

¹ https://www.statista.com/statistics/491362/health-wellness-market-value/   

About Real California Milk/California Milk Advisory Board
The California Milk Advisory Board (CMAB), an instrumentality of the California Department of Food and Agriculture, is funded by the state’s dairy farm families who lead the nation in sustainable dairy farming practices. With a vision to nourish the world with the wholesome goodness of Real California Milk, the CMAB’s programs focus on increasing demand for California’s sustainable dairy products in the state, across the U.S. and around the world through advertising, public relations, research, and retail and foodservice promotional programs. For more information and to connect with the CMAB, visit RealCaliforniaMilk.com, Facebook, YouTube, Twitter, Instagram and Pinterest.

About VentureFuel
Founded in 2014, VentureFuel is an independent innovation advisory firm that helps the world’s best organizations commercialize innovation to ignite change. Its innovation programs solve clients’ biggest challenges via startup collaborations. VentureFuel provides organizations like Comcast NBCUniversal, Dick’s Sporting Goods and the State of California the tools to accelerate transformation with less risk, more speed, and greater proximity to the consumer than traditional innovation models. Learn more at: www.venturefuel.net, LinkedIn, Twitter and Instagram. You can listen to The VentureFuel Visionaries podcast on Apple, Spotify Simplecast or wherever you get your podcasts.

SOURCE California Milk Advisory Board