Adaptive is poised to address this with its automated financial management software designed specifically for SMB construction companies. Following rapid growth, the Company is set to scale, with the recent investment led by Emergence Capital along with participation from Andreessen Horowitz, Definition, Exponent, 3kvc, Box Group, and Gokul Rajaram. This brings Adaptive’s total capital raised to $26.4 million.

Adaptive combines AI, automation, and intuitive design to deliver a modern financial management experience, built specifically for the construction industry. The platform offers end-to-end financial management, including budgeting, cash flow analytics, expense tracking, accounts payable, accounts receivable, vendor management, and electronic payments.

Nick Schiffer, founder of the Boston-based homebuilding company NS Builders and host of The Modern Craftsman podcast, said, “Managing cash flow and staying on top of project budgets is a full-time job in construction. Like most other homebuilders, we’re a small business; we operate on thin margins so we want all available staff time devoted to building the best possible product for our clients, not bookkeeping.

“The year before we started using Adaptive to automate our financial management, we lost out on over $100,000 of reimbursable expenses due to error-prone cost tracking. Every builder I know has the same problem and it leads to higher prices across the board,” said Schiffer.

“The payment delays and cash flow problems we see in construction largely arise from outdated, manual back-office processes,” said Matt Calvano, Co-Founder and CEO of Adaptive. “Our platform leverages AI and automation to cut through this back office fog, delivering real-time clarity into financials and significantly accelerating payments.”

Since its launch in February 2023, Adaptive has grown rapidly, with more than 280 construction companies managing over $1.4 billion of project volume on the platform. Adaptive serves a wide range of small to medium-sized construction businesses, including custom homebuilders, commercial general contractors, real estate developers, and specialty trades.

“Our rapid growth is a testament to both the demand small and medium-sized construction businesses have for modern, intuitive financial tools and how underserved they are by the options available to them,” said Francisco Enriquez, Co-Founder and CFO.

Matt Risinger, Founder of Risinger Build and The Build Show, shared, “Adaptive has completely supercharged our back office process. Prior to using Adaptive, my team would spend hours per day bookkeeping, chasing receipts, manually approving vendor bills, and preparing bank draws. With Adaptive, their AI does the data entry and we get paid faster because we can now generate requests for payment in a few clicks that used to take us weeks to prepare. Adaptive has allowed us to grow without adding additional overhead costs.”

“We’re laser focused on incorporating AI to automate processes and simplify the user experience, creating a next-gen software experience for our industry. Our customers can be up and running on Adaptive in under an hour,” said Henry Bradlow, Co-Founder and CTO.

Looking ahead, Adaptive will focus on expanding its product into an integrated financial ecosystem that connects developers, general contractors, and subcontractors, delivering transparency and fast, accurate payments across the construction value chain.

“Adaptive’s innovative approach to solving construction’s financial challenges is both timely and necessary. Adaptive is set to build a generational company and redefine how money moves across this critical part of the economy,” said Kevin Spain, GP at Emergence Capital, who will also be joining Adaptive’s Board. Emergence brings significant expertise to the table, having been early partners to both industry-defining vertical software companies such as Veeva, as well as payments innovators such as Bill.com.

The Series A funding will fuel Adaptive’s growth, supporting the expansion of its engineering and product teams and enhancing efforts to reach more construction companies across the United States.

About Adaptive: Adaptive is on a mission to bring financial clarity to the construction industry through advanced automation and AI. By eliminating back-office bottlenecks and streamlining payment processes, Adaptive’s platform enables construction companies of all sizes to improve their cash flow, profitability, and project efficiency. With a vision to become the standard network for construction payments, Adaptive is paving the way for a more transparent, efficient, and profitable construction industry. For more information, visit www.adaptive.build.

SOURCE Adaptive

NESS ZIONA, Israel, July 15, 2024 — NanoPass Technologies, a leading innovator in intradermal delivery solutions, has secured a $4 million investment from lead investor Awz Ventures as part of a $6 million funding round. This marks a significant milestone for NanoPass as it expands its commercial reach and reinforces its status as a pioneer in effective delivery solutions.

NanoPass has recently appointed Daniel Levitats as its new CEO to support its growth efforts. With over 25 years of experience in high-tech and medical device companies, Daniel’s extensive background in executive leadership roles, strategic global commercial execution, and driving innovation – especially in the therapeutic and aesthetic fields – will further propel NanoPass towards its goal of redefining the standard of care in intradermal delivery.

NanoPass has revolutionized intradermal delivery with its groundbreaking MicronJet™ product platform. This next-generation technology enables superior product delivery, offering precision, consistency, and safety that surpasses any traditional injection methods. The MicronJet^™ solution platform leverages (MEMS) Micro Electro Mechanical Systems technology, meticulously designed to optimize product delivery performance, setting a new standard in both challenging and commonly performed therapeutic and aesthetic procedures. The key features of the MicronJet™ platform include a proprietary pure silicon crystal-made hollow pyramid structure. The hollow pyramids are the only FDA cleared intradermal delivery system that is smaller than 1 mm in size, and have been proven to provide high delivery consistency, low leakage rate, and high success rate evaluated by bleb formation in over 70 clinical studies and dozens of peer-reviewed publications. MicronJet™ has become a preferred product delivery method worldwide due to it being near painless , making it a top choice for both clinicians and patients compared to traditional needles.

“We are thrilled to have Awz Ventures onboard as a strategic investor and are excited to continue our journey of innovation and growth in the intradermal delivery space,” said NanoPass CEO Daniel Levitats. “Our MicronJet™ platform represents the future of medical procedures, offering precise, safe, and efficient delivery solutions that enhance patient experience and outcomes.”

Awz Ventures’ investment in NanoPass Technologies is a testament to the company’s potential in various medical applications, from vaccines and drug delivery to skin testing and aesthetics. This investment, part of Awz’s Active Capital strategy, provides NanoPass with multi-stage investment, active, hands-on comprehensive mentorship, unparalleled access to strategic partnerships, and preparation for subsequent funding rounds and M&A opportunities. It underscores NanoPass’s profound impact in the healthcare industry and sets the stage for further growth and innovation, sparking excitement about the company’s future potential.

“NanoPass’s unique deep tech technology has revolutionized medical delivery, including vaccines, drug treatments, and aesthetics. We foresee NanoPass technology disrupting the market and becoming the primary method for administering vaccinations, skin rejuvenation treatments, and other drugs requiring precise skin delivery,” said Awz Founder and Managing Partner Yaron Ashkenazi. “Awz envisions NanoPass’ technology as a critical component in enhancing public health and resilience, and an essential solution for pandemics.“

About NanoPass

NanoPass is a leading innovator in intradermal delivery technology, specializing in developing cutting-edge solutions for precise, safe, and efficient therapeutic and medical aesthetic treatments. With its MicronJet™ product platform, NanoPass is redefining the injection therapy standard of care, supporting superior clinical results and virtually pain-free procedures.

About Awz Ventures

Awz is a global, multi-stage, investment firm focused on multi-use, commercial applications of innovative AI-based, deep-tech, fintech, cybersecurity, medtech, and intelligence technologies—with offices in Canada, Israel and the US. Awz manages over US $500M across five funds with more than 35 extraordinary portfolio companies to date and has consistently proven its ability to deliver exceptional returns to its LPs. Led by Founder & Managing Partner, Mr. Yaron Ashkenazi, Founder & Board Chair, Mr. Ed Sonshine, and Advisory Committee President, the Rt. Hon. Stephen J. Harper, the 22nd Prime Minister of Canada, Awz management and advisors include successful venture capital professionals, industry experts and former directors & senior executives from Israeli and global security & intelligence agencies (CIA, FBI, MI5, CSIS, CAF, Mossad, ISA, Unit 8200).

Media inquiries:

Adi Jacobson
VP Marketing
[email protected]
www.nanopass.com
+972502044934

Logo – https://mma.prnewswire.com/media/2460793/Awz_Post.jpg

SOURCE NanoPass Technologies

Capital from Olympus Innovation Ventures, another strategic investor and several institutional investors will fund through expected PMA approval

SAN JOSE, Calif., July 15, 2024 — Neuspera Medical, Inc., a neuromodulation company pioneering the Neuspera Implantable Sacral Neuromodulation (SNM) System, announced the closing of its Series D funding round raising $23 million and led by Vertex Ventures HC and Treo Ventures with participation by Action Potential Venture Capital, Windham Venture Partners, Olympus Innovation Ventures and another strategic investor. This round will fund the company though expected U.S. Food and Drug Association (FDA) premarket approval (PMA) of the Neuspera System, the discreet, minimally invasive, ultra-miniaturized implant designed to provide patients personal control and relief from urinary urge incontinence (UUI), a symptom of overactive bladder (OAB).

“As a partner of choice for innovators in urology, we are thrilled to invest in the Neuspera team as they bring the Neuspera System through FDA approval and to the market,” said Gabriela Kaynor, President of Olympus Innovation Ventures and Chief Strategy Officer at Olympus Corporation. “Based on critical unmet market need and patient demand, changes in society guidelines, and positive feedback from patients and physicians in clinical trials, we are excited to invest in the Neuspera team as they build their innovative Neuspera System for OAB.”

OAB is a common medical disorder affecting roughly one in six adults. OAB symptoms include a sudden, uncontrolled need or urge to urinate, urine leakage, and/or the need to pass urine many times during the night and day. These symptoms can make it difficult to work, socialize, exercise and lead a normal, active life which can lead to depression, self-esteem and social stigma issues.¹

“We’re excited to bring new partners on board as we approach the next significant milestone of submitting the Neuspera System for regulatory approval,” said Steffen Hovard, CEO of Neuspera Medical. “The confidence and conviction of our new and existing investors, like Olympus Innovation Ventures, demonstrates the strength and potential of our platform technology.”

The Neuspera System is the least invasive sacral neuromodulation device and includes an ultra-miniaturized pulse generator attached to an electrode array. It is designed to be discreet and fit within the protected space of the sacral foramen, so patients typically don’t feel any lump or bulge and the scar from the implant procedure is usually barely perceptible, even if you know where to look. This design eliminates the need for more invasive tunneling and a separate pocket for an implanted battery, while empowering patients to regain control of their OAB symptoms and life.²

The Neuspera System has FDA clearance for treating chronic pain of peripheral nerve origin and is currently an investigational device for treating UUI, a symptom associated with OAB.

About Neuspera Medical
Neuspera Medical, Inc. is committed to developing implantable medical devices that will improve the lives of patients battling chronic illnesses. The Neuspera platform is designed to provide patients and physicians with new, and potentially earlier, treatment options that are less invasive and more adaptable. These therapeutic alternatives aim to help patients restore their health and well-being for a better quality of life. For more information, please visit www.neuspera.com.

About Olympus
At Olympus, we are committed to Our Purpose of making people’s lives healthier, safer and more fulfilling. As a global medical technology company, we partner with healthcare professionals to provide best-in-class solutions and services for early detection, diagnosis and minimally invasive treatment, aiming to improve patient outcomes by elevating the standard of care in targeted disease states. For more than 100 years, Olympus has pursued a goal of contributing to society by producing products designed with the purpose of delivering optimal outcomes for its customers around the world. For more information, visit olympus-global.com and follow our global X account: @Olympus_Corp.

Olympus Innovation Ventures is the venture capital arm of Olympus. OIV invests in customer driven solutions in medical devices, diagnostics and digital health that complement or extend our market leading endoscopic procedures. Get in touch with OIV at [email protected] or https://olympusamerica.com/olympus-venture-capital.

About Vertex Ventures HC
Vertex Ventures HC (San Francisco, CA) invests in various sectors of the healthcare industry, including biopharmaceuticals and medical devices. The Vertex portfolio includes companies at all stages of development, from early-stage companies testing transformative technologies to commercial-stage companies seeking additional growth. With a focus on areas with significant unmet need, Vertex seeks to build great companies that improve the health and quality of human life. Vertex will take an active role in their portfolio companies and work with exceptional entrepreneurs, industry partners and fellow venture investors to create value. The global investment professionals at Vertex bring deep scientific, medical and business knowledge to every investment they make.

About Treo Ventures
The Treo team brings more than 90 years of cumulative healthcare experiences as investors, company founders, and operator, investing globally in more than 45 companies through multiple market cycles. The Treo team has been involved in several premium healthcare companies bringing novel technologies to market that have become the standard of care. With their experiences across both early and commercial stage companies, the Treo team has played active and important roles from founding companies to liquidity via trade sales to multiple strategics and IPOs. Treo’s experiences on private and public company boards gives them a unique vantage point in their active involvement with portfolio companies. In addition, their scientific and commercial backgrounds along with global relationships have helped them play an important role in consistently building some of the most successful healthcare companies over last two decades.

¹ Stewart et al. Prevalence and burden of overactive bladder in the United States. World J Urol. 2003 May;20(6):327-36.
² Based on outcomes of the SANS-UUI Phase I clinical data; Padron et al. (2021). TREATMENT OF URINARY URGENCY INCONTINENCE (UUI) WITH AN ULTRA-MINIATURIZED SACRAL NERVE MODULATION (SNM) SYSTEM: PRELIMINARY OUTCOMES OF THE SANS-UUI STUDY.  Journal of Urology. 2021 Sep 1;206(Supplement 3):e1158.

Media Contact:
Hyedi Nelson
Bellmont Partners
651-757-7054
[email protected]

SOURCE Neuspera Medical, Inc.

Accelerates Commercialization of Leading Protein Enzyme Platform

DAVIS, Calif., July 15, 2024 — Digestiva, a pioneering food biotech company, successfully closed its Series A equity financing round, raising $18.4 million. This significant milestone was led by Magdalena, a global leader in sugar cane processing, with participation from UC Investments, and existing investors The March Fund and Astanor. The company’s groundbreaking enzyme technology platform was initially discovered by co-founder Dr. Wilson Mak, in the lab of renowned UC Davis faculty member Dr. Justin Siegel, a global leader in enzyme discovery, development, and design.

Digestiva’s innovative core technology focuses on the discovery and development of proprietary protease enzymes designed to address critical challenges in protein nutrition, functionality, and overall health. Millions worldwide struggle to extract optimal nutrition from dietary proteins, leading to inadequate growth, muscle development, and overall health, with problems that worsen with age. Digestiva’s revolutionary proteases enhance protein bioavailability, allowing people and animals to maximize nutritional benefits from existing diets without increasing protein consumption. These science-driven solutions have the potential to address global malnutrition and promote sustainable nutrition by improving health outcomes and reducing environmental impact.

Alongside the successful Series A financing, Digestiva has entered into an exclusive manufacturing partnership with Magdalena. Under this agreement, Magdalena will enable the scale-up production of enzymes to help Digestiva reach its commercial milestones.

Digestiva is currently executing multiple pilot projects aimed at accelerating commercialization and achieving initial revenue milestones. Its first precision protease enhances the processability, nutritional quality, digestibility, and bioavailability of proteins. This enzyme releases an optimal mix of amino acids and peptides, offering versatile applications in nutrition and protein processing. The protease technology has shown promise in pilot human studies and industrial processes, potentially revolutionizing the quality of protein ingredients from various plant and animal sources. Digestiva aims to commercialize applications in pet food, animal feed, and human nutrition markets. The company has developed a cost-effective production method using precision fermentation and has attained Self-Affirmed GRAS, making its first product market-ready.

“We are very pleased with the high caliber of investors participating in our financing round and the strategic alignment in scaling our breakthrough technology to deliver a significant positive impact on the future of human and animal nutrition. We are excited to partner with Magdalena to manufacture our enzymes, ensuring both cost efficiencies and long-term supply security for our customers. Digestiva is a prime example of the groundbreaking biotechnology emerging from the UC Davis ecosystem,” said John Melo, CEO of Digestiva.

About Digestiva
At Digestiva, Inc, our mission is amplifying the nutritional impact of food while contributing to a more sustainable future. Digestiva is a pioneering food biotech company that applies computational enzyme discovery and the power of precision fermentation. Coupled with AI, we develop and scale novel, clinically proven digestive enzymes that elevate the nutritional value of what we already eat. Digestiva combines scientific, nutrition, and engineering expertise, with a deep understanding of consumer needs, to make protein healthier for all, with no compromise.

SOURCE Digestiva, Inc

The Locker’s automated, standardized software puts power into founders’ hands, drastically reducing time and cost for both funders and founders

NEW YORK, July 15, 2024 — Today, The Locker – the first and only comprehensive automated diligence software – launches, outsourcing diligence to founders. Revolutionizing diligence, The Locker’s human-verified, shareable software offers investors an expansive and dependable diligence check on private companies.

The Locker is a shareable diligence that transforms 900 data fields into a concise snapshot on the health of a business. Founders set up their Locker once, update monthly and give an access key to funders. Lockers are standardized, with quantitative analysis and fully automated diligence, to give investors a consistent analysis with opinions and human-verified diligence.

“The current diligence system is costly, subjective, inconsistent and biased – and slow manual diligence is a bottleneck for deal flow, keeping millions of founders from funding,” says Nicole Loftus, Founder of The Locker. “Now, founders can get a faster YES and more funding, and investors get quantitative vetting of a business, freeing 95% of their time and effort.”

Loftus disrupted a $20 billion industry and built a tech company that was #8 on the Inc. 500. Witnessing the positive impact that growing and well-funded businesses have on communities and the economy, Loftus decided to create, acquire and grow the services and solutions founders and funders need to be successful – paying it forward. To build The Locker, Loftus sought out the best diligence firm in the U.S., acquiring CrowdCheck – the #1 recommended firm for 12 years – in 2023 to launch The Locker as a proprietary fintech product. CrowdCheck has worked with thousands of private firms, brokers and crowdfunding platforms, and is the most trusted diligence and compliance firm nationwide.

The Locker is a form that feeds calculations, resulting in a complete diligence report, shared with funders who access a dynamic, simple, interactive, dashboard interface. Lockers are verified to be in good standing, with no litigation, no bankruptcy, checked financials, ten balance sheet ratios and 60 flags. The Locker is a shareable private repository, so a company’s data is protected, and the founder can maintain focus while the investor reviews a complete package of data, flags and calculations. With founders driving the diligence process, they can now deliver a consistent set of data to every investor.

Zachary Hansen, Founder & President of a private equity fund among the first to use The Locker, says: “The Hansen Family Office is thrilled to partner with The Locker, owing to its meticulous founder-driven diligence process. We recognize The Locker as an innovative solution that significantly streamlines and expedites our underwriting and funding procedures. This strategic collaboration not only enhances our operational efficiency but also provides us with a competitive edge, enabling us to fund high-quality companies at a remarkably quicker pace.”

Lockers are available to entrepreneurs for just $99.99 per month, and investors can view Lockers for $150 each per month. Visit http://yourlocker.co for more information.

ABOUT THE LOCKER
The Locker is the first and only automated, founder-driven, comprehensive, shareable diligence software. Founders, raise money faster, save valuable time, be a hero to funders. Your Locker holds your verified information in one place so you can go back to doing what you do best, running your company. Funders, save money and time, get better data, decisions and returns.

Media Contact: Kristin Lunt
[email protected]
516-306-6374

SOURCE The Locker

PHOENIX, July 15, 2024 — Trinity Capital Inc. (NASDAQ: TRIN) (“Trinity”), a leading provider of diversified financial solutions to growth-oriented companies, today announced the commitment of $15 million in growth capital to Velentium, a professional engineering firm that specializes in the design and manufacture of innovative medical devices.

Based in Houston, Velentium designs, develops, manufactures, and provides post-market support for medical devices, particularly active implantable and wearable devices. With expertise in systems engineering, software, cybersecurity, mobile/cloud solutions, and automated test systems, Velentium collaborates with clients worldwide to create medical solutions that improve lives.

“Velentium brings unique capabilities to their medical device customers and is a trusted partner to help drive new product innovation,” said Ryan Kaeding, Managing Director, Life Sciences at Trinity. “We believe in their team and are excited to help accelerate their growth as a one-stop shop for end-to-end medical device design, development, and contract manufacturing.”

Velentium recently moved into their new corporate headquarters in Houston, which is over 50,000 square feet, has class 7 cleanrooms and provides a significant improvement in their manufacturing capacity to support their growing contract manufacturing business. The new debt facility from Trinity will facilitate Velentium’s continued growth.

“We are thrilled to partner with Trinity as we continue to scale our business and make medical devices safer, more secure, and more user-friendly continuing our mission to Change Lives for a Better World through our customer partnerships.” said Dan Purvis, CEO of Velentium.

About Trinity Capital Inc.

Trinity Capital Inc. (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital’s investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans and equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth stage companies. For more information, please visit the Company’s website at www.trinitycap.com.

About Velentium

Velentium is a Houston-based professional engineering firm specializing in the end-to-end design, development, manufacturing and post-market support of medical devices. The company’s core competencies include active implantable medical devices, systems engineering, firmware & software, cybersecurity, mobile & cloud, electrical & mechanical engineering, human factors & usability, automated test systems, and CGMP manufacturing. With customers all over the world, Velentium has experience working with all sizes of clients, ranging from startups seeking seed funding to established Fortune 500 companies.

SOURCE Trinity Capital Inc.

Benjamin Reinhardt Has Been Named to O’Shaughnessy Ventures’ Advisory Council

GREENWICH, Conn., July 15, 2024 — O’Shaughnessy Ventures LLC (“OSV“), an investment firm that empowers creators, has named Benjamin Reinhardt to its Advisory Council.

Reinhardt will bring his expertise in emerging technologies to the OSV team, advising on the latest research and developments in engineering, new materials, and the manufacturing sector broadly.

“I’m excited to welcome Ben to the Advisory Council,” said OSV’s founder and CEO, Jim O’Shaughnessy. “The team and I are greatly impressed with what Ben is building at Speculative Technologies, and his perspective on our technological future will be an incredibly valuable addition.”

Reinhardt commented, “O’Shaughnessy Ventures is building a unique new institution working on a slew of ambitious things. I’m excited to help!”

About Reinhardt

Reinhardt is the founder of Speculative Technologies, a new kind of research organization working to unlock new manufacturing technologies and materials. He was awarded a $10,000 O’Shaughnessy Grant to continue building Speculative Technologies in 2023.

In the past, Reinhardt has worked at NASA, Bay Area startups, and VC firms, founded a startup building robotics for eldercare, and helped entrepreneurs start companies in Singapore.

He has a Ph.D. in space robotics from Cornell University and is one of the few people with a B.Sc. in history, which he received from California Institute of Technology.

More information about Reinhardt is available via his website.

About O’Shaughnessy Ventures

OSV is a creative investment firm that empowers and inspires creators to bring their ideas to life. Founded by Jim O’Shaughnessy, a pioneer in quantitative investing, founder of O’Shaughnessy Asset Management, and author of four books on investing, OSV aims to provide financial support and to partner in growing the next life-changing creative ideas. 

OSV combines Jim’s deeply rooted interest in all things art, science, investing, and tech with his long-held desire to establish scenarios designed to help promising creators and their inspiring ideas succeed, regardless of age, location, job history, or level of education. For more information, visit https://www.osv.llc/.

Media Contact:
Ena Gong
O’Shaughnessy Ventures LLC
(917) 355-7420
[email protected]  

SOURCE O’Shaughnessy Ventures

Series A funding to accelerate platform development and market reach

SOLANA BEACH, Calif., July 15, 2024 — Alvys, the next-generation logistics operating platform for logistics and supply chain management, today announced it has raised $20.5 million in a Series A funding round. The round was led by Titanium Ventures (formerly Telstra Ventures), with new investor Picus Capital and existing investors RTP and Bonfire.

The successful achievement of this round solidifies Alvys’s position as a leader in logistics and supply chain management. The company is experiencing rapid customer growth, and this capital enables Alvys to accelerate its development efforts and to recruit top talent to solve complex issues within the industry.

“This funding round marks a pivotal moment for Alvys as we continue our mission to revolutionize the logistics and supply chain industry,” said Nick Darman, founder and CEO of Alvys. “We’re tackling some of the most complex challenges currently vexing the industry, which is moving the needle on attracting innovative thinkers to our team to help us solve those problems.

“With this investment, we’re poised to accelerate our growth, enhance our platform and bring on board the brightest minds ready to transform how the industry operates. Our goal is to empower every professional in logistics and supply chain with the tools they need to make better, data-driven decisions.”

Alvys is on a mission to become the global standard logistics operating platform for logistics and supply chain management. The platform addresses inefficiencies in current logistics systems making life better for everyone in the supply chain ecosystem. The logistics operating platform offers a modern, cloud-based solution that allows for optimized workflows and hundreds of integrations, eliminating personal data silos and providing a comprehensive suite of integrated modules for seamless logistics management.

Alvys allows for the efficient consolidation and organization of data, bringing relevant information to each user and enabling quick, informed decision-making. The platform offers a complete package that ensures seamless operation across all aspects of logistics management.

“We are thrilled to announce our investment in Alvys and contribute to their mission in revolutionizing the freight industry,” said Saad Siddiqui, General Partner at Titanium Ventures. “Their technology transcends traditional TMS, incorporating the most modern technology with AI, features, and workflows that customers desperately need. In an industry filled with older, legacy technology and one that faces regulatory changes, it is harder than ever to be in the freight space. Customers need a better understanding of their business and in real time, and Alvys is the only platform that provides them with all these features.”

“Our customers are seeing an average load increase of 22% after just four months using our innovative platform,” said Leo Gorodinski, CTO of Alvys and former VP of Engineering at Jet.com. “Our goal is to revolutionize carrier and broker connections with seamless, one-click workflows and integrated technologies. Traditional ERP and TMS systems are often burdensome and built on outdated technology. We’re disrupting the industry by building a world-class, multi-tenant platform to replace outdated software and drive growth across the supply chain.”

For more information on Alvys, please visit https://alvys.com/.

About Alvys
Alvys is a cutting-edge logistics operating platform designed to revolutionize logistics and supply chain management by integrating modern, cloud-based solutions to streamline processes and improve operational efficiency. Founded in 2020, Alvys provides comprehensive solutions for load management, accounting, billing, driver and vendor pay, and payroll. The platform organizes relevant data, making it accessible to every user within an organization. Alvys enables quick, informed decision-making and reduces manual processes to create the most advanced TMS in the industry. For more information, visit https://alvys.com/.

MEDIA CONTACT:
Heather Ripley
Ripley PR
865-977-1973
[email protected]

SOURCE Alvys

Modicus Prime, the AI image processing platform for drug manufacturing, is addressing the cost, legal, and waste liabilities caused by quality control issues

AUSTIN, Texas, July 15, 2024 — Modicus Prime, resident at Johnson & Johnson Innovation – JLABS @ TMC, announced today the completion of a $3.5M in series seed funding led by Silverton Partners, with additional backing from Alumni Ventures and other leading venture firms. The funding comes following the implementation of the cloud software across multiple global pharmaceutical companies, CMOs, and CDMOs manufacturing biologics, cell and gene therapies, and vaccines.

Modicus Prime’s mpVision is a Pharma 4.0 quality control technology. The cloud software scales GxP-compatible AI models for real-time quality control in commercial manufacturing. As a hardware-agnostic software layer, mpVision is integrated into any camera-equipped device, ranging from microscopes to microflow imaging devices. By ensuring the identity, efficacy, and purity of drug products, mpVision significantly reduces costs and waste from failed batches. Regulatory bodies including the FDA are urging pharmaceutical companies for more in-process monitoring to understand the state of their product at every stage of production, and mpVision enables pharmaceutical companies to accomplish this level of oversight. The outcome of mpVision’s implementation is the reduction of quality control failures costing the industry $50 billion annually.

Modicus Prime’s team is helping drive the industry’s AI movement through keynotes, webinars, guidance documents, and talks informing regulators. Taylor Chartier, Modicus Prime’s CEO, was selected among a group of industry experts to create an Artificial Intelligence Good Practice Guide for the pharmaceutical industry on behalf of the International Society for Pharmaceutical Engineering, ISPE. This guidance is the first of its kind for the industry, which has been highly anticipated by the FDA and other policymakers. The guidance is projected to be heavily referenced by pharma’s quality units. In addition, Chartier is spearheading ISPE’s GxP AI Webinar Series with fellow industry experts, which is a 6-part webinar series on implementing AI/ML solutions in GxP environments, from initial concept to final deployment. Over 1000 audience members registered for the webinar series kick-off in March 2024.

A former engineer and data scientist from Shire and Bayer Pharmaceuticals, Chartier states, “When the Modicus Prime team meets with scientists and automation teams at pharma companies, we usually hear about long assay and software turnaround times limiting their ability to take immediate action during commercial production. In response, pharmaceutical domain experts guided the construction of mpVision’s cloud ecosystem to be their natural quality control solution.”

As part of the financing round, Silverton Partners’ Roger Chen joins the Company’s board of directors.

Silverton Partner Roger Chen states, “This company is responding to the pharmaceutical industry’s current demands, delivering a welcomed cloud technology that’s already yielding practical results. We are very enthusiastic about supporting this movement.”

Modicus Prime’s team has also been informed by a former FDA CBER Division of Manufacturing Product Quality Inspector that they have long awaited this technology, mpVision, which is a significant testament to the software’s impact to the industry. Modicus Prime will be using this new capital to further service their international pharmaceutical customers with additional customer support.

About Modicus Prime
Modicus Prime’s computer vision software automates biologics image analysis and is designed to solve for the cost, legal, and waste liabilities from product quality failures. As a Johnson & Johnson JLABS resident at the Texas Medical Center, Modicus Prime is venture-backed and has strategic partnerships with organizations including Takeda Pharmaceuticals, Oak Ridge National Laboratory (DOE), Dotmatics, and eLabNext (Eppendorf). Current implementation areas for the software include biologics, cell and gene therapies, and vaccines for pharmaceutical manufacturing, CMOs, and CDMOs.

About Silverton Partners
The Silverton team partners with entrepreneurs who are dedicated to tackling growth markets and building lasting companies. In partnering with Silverton, companies benefit from its vast network and expertise from decades of growing and investing in successful businesses. Founded in 2006, Silverton Partners is based in Austin, TX, and was the initial institutional investor for Sailpoint, WP Engine, SpareFoot, TrendKite, TurnKey Vacation Rentals, The Zebra, AlertMedia, SpyCloud, Self Financial, Billie, and Aceable among others. For more information, visit www.silvertonpartners.com.

Contact:
Taylor Chartier
[email protected] 

SOURCE Modicus Prime