Funds Will Accelerate the Growth and Expansion of the Identity Security Company, Including Driving Product Innovation, Hiring Top Talent and Advancing the FedRAMP Certification Process

SANTA CLARA, Calif., July 30, 2024 — Axiad, an identity-first enabler of the zero-trust enterprise, today announced it has raised $25 million in funding from Invictus Growth Partners (“Invictus”). The investment funds will be used primarily to fuel product development innovation, hire additional top talent, bolster sales and marketing efforts, and aid in the company’s journey to achieve Federal Risk and Authorization Management Program (FedRAMP^®) Authority to Operate (ATO). The current round brings the company’s total capital raised to $45 million, which includes Invictus’s previous $20 million private equity investment in 2021.

“According to an IDSA survey, 91% of organizations experienced an identity-based attack in 2024, and while multifactor authentication (MFA) has been around for decades, most implementations are weak and do not provide true phishing resistance,” said David Canellos, CEO of Axiad. “This latest funding round from Invictus further demonstrates its confidence in our mission in the identity security space, which is to enable enterprises and government organizations to deliver an identity-first zero-trust future through advanced authentication solutions, including phishing-resistant MFA, that will help better protect our rapidly growing customer base.”

The funding news comes on the heels of Axiad’s announcement last week that a federal agency has agreed to sponsor Axiad and its flagship product, Axiad Cloud, to finalize its progress through the FedRAMP process. Axiad Cloud provides an advanced authentication toolset to customers, including federal government agencies, that combines MFA, cloud-based PKI and robust credential management that utilizes x.509 certificates and FIDO passkeys. The toolset helps organizations deploy and manage strong authentication processes across people, non-human identities and applications without replacing existing systems, resulting in lower IT costs, happier users and increased security by protecting organizations against identity-based attacks.

“Axiad is a trusted leader in the identity security market, and this additional investment will drive continued innovation for our customers and the industry overall,” said John DeLoche, co-founder of Invictus and a member of Axiad’s board of directors. “David has brought exceptional leadership, vision and new operating talent to the company, and we look forward to working with him to successfully execute on Axiad’s growth strategy.”

The investment also builds on the company’s recent momentum of the appointments of Alex Au Yeung as chief product officer and Sergey Starzhinskiy as vice president of systems engineering, who are both continuing to drive Axiad’s identity-first product direction and innovation, as well as the aforementioned announcement of a new federal agency customer and FedRAMP sponsor.

About Axiad
Axiad delivers identity-first authentication technologies that help organizations secure people, machines and applications. Axiad’s customers in the federal government, finance and banking, healthcare, manufacturing and technology sectors optimize existing cybersecurity investments while navigating modern IT complexities like disparate identity and access (IAM) solutions, a mix of cloud, on-prem and hybrid infrastructures, and regulatory requirements like FedRAMP, CMMC and AAL3. The company’s flagship offering, Axiad Cloud, provides an advanced authentication toolset that allows organizations to manage strong authentication processes without replacing existing systems. Axiad Cloud combines multifactor authentication, cloud-based PKI and robust credential management utilizing x.509 certificates and FIDO passkeys, while supporting the widest range of credentials in the industry, including FIDO, mobile MFA, Windows Hello for Business, YubiKeys, smart cards, TPM and biometrics. With Axiad Cloud, customers benefit from lower IT costs, increased user satisfaction and continual mitigation of identity-based attacks. Visit axiad.com to learn more.

About Invictus Growth Partners
Invictus Growth Partners is a buyout and growth equity firm that invests in outstanding bootstrapped and capital efficient, automation-enabled cloud software, cybersecurity and fintech companies that seek capital and strategic resources to accelerate their growth. The firm and all its professionals are based in San Mateo, CA. Please visit at invictusgrowth.com.

SOURCE Axiad IDS, Inc.

TULSA, Okla., July 30, 2024 — Omega Capital, a Tulsa-based private equity firm focused on investing in closely held lower-middle market companies, announced today the first closing of Omega Capital Fund II, LP.  The closing consisted entirely of returning Fund I investors.     

“We are grateful for the continuing partnership with such a distinguished group of entrepreneurs and family offices,” said Jason Martin, founder and president of Omega Capital. “They share our belief that the region holds undiscovered investment opportunities.”

The strategy for Fund II will largely follow that of Fund I. Omega Capital seeks to invest $3 million to $10 million in growth equity or buyout transactions in Oklahoma and surrounding states in a broad range of industries, from healthcare to outdoor products to aviation.  “We have the flexibility to partner with our investors or other private equity firms on larger deals,” added Martin.    

Frederic Dorwart, Lawyers PLLC served as fund counsel to Omega Capital.

SOURCE Omega Capital

The award-winning travel platform marries travel insurance, assistance and financial solutions to holistically care for travelers on the road

RICHMOND, Va., July 30, 2024 — Travel startup Faye today announced it has raised $31M in Series B funding, bringing the company’s total funding to $49M. The round was led by Portage, with participation from Lumir Ventures, along with existing investors F2 Venture Capital, Viola Ventures and Munich Re Ventures.

Since launching its award-winning app to American travelers in 2022, Faye has continued to expand its offering to where it is today: travel insurance that provides comprehensive coverage and enables smarter, faster claims resolutions; 24/7 assistance and companionship for anything that can go wrong in-trip; real-time trip monitoring and alerts as well as fast fintech solutions to enable payments, reimbursements and savings for trips.

Faye Co-Founder & CEO, Elad Schaffer: “In just two years Faye has become the most-loved, fastest-growing and highest-rated company in our space. Our sales have grown 10X year-over-year while setting a new standard on customer experience and retention. That’s no small feat, and is a result of our relentless focus on delivering the best technology and highest level of customer care, coupled with our commitment to hiring the best talent out there. We are excited to move into a new phase of growth, creating a robust platform for looking after travelers throughout their entire journey. Those hitting the road with Faye will receive the best insurance experience with our tech-driven holistic coverage and care that enables smarter and smoother trips through personalized travel and financial solutions. Soon, Faye will be every American’s travel protector and companion.”

Ever since its debut, the company has enjoyed consistent 5-star reviews from travelers and was named a top travel insurance provider by The Wall Street Journal.

Faye expects to grow its revenue fivefold in 2024 alone, serving hundreds of thousands of travelers around the world. Simultaneously, the company is focused on forging new partnerships with top brands, travel agencies and distribution partners looking to provide consumers with a tech-powered, modern and delightful travel experience.

Stephanie Choo, Partner, Portage Ventures: “We have been following Faye’s journey from the beginning and are excited to see the company marry both travel and fintech solutions in order to deliver holistic care to travelers,” says Choo, who has joined Faye’s board of directors. “This is an underserved and often overlooked market with untapped value to capture. Portage remains bullish as ever on the next generation of fintech companies and we are excited to back the team in their journey to build Faye into one of the world’s largest platforms dedicated to looking after travelers’ needs.”

Faye has made additional enhancements to its platform since its Series A round last year, including: pre-trip essentials so travelers know the vaccine, health mandates and even plug type per destination; telemedicine access to over 20K doctors worldwide along with the ability to schedule in-person, home or hotel visits when you’re unwell in-trip; app recommendations to travel like a local; emergency numbers to access and much more.

These are in addition to enhancing the core benefits Faye launched with: the ability to protect your trip in as little as 60 seconds, quick and digital claim filing in-app (along with the ability to track your claim’s status to completion), fast claims reimbursements into your Faye Wallet for immediate use, and the ability to access travel support experts 24/7 wherever you are in the world – weekends and holidays included.

Available nationwide, Faye is the second startup founded by travel enthusiasts Elad Schaffer (CEO) and Daniel Green (CTO). In the coming months, Faye plans to dedicate this capital injection to fuel growth, develop new products and scale its operations across its insurance, travel and fintech offerings. In addition, the company plans to grow its U.S. headquarters in Virginia and build out its existing offices in New York, Florida and California.

Faye’s robust protection can cover travelers’ flights, hotels, health (including pre-existing conditions), luggage, and even their pets – all via an app on iOS or Android that sends real-time proactive alerts, provides 24/7 access to customer experience specialists, enables users to file claims digitally, and quickly pays for approved claims via electronic transfers to Faye Wallet, its digital card that can be added to Apple Wallet or Google Wallet. Thanks to Faye Wallet, travelers can also receive speedy reimbursements for travel inconveniences (such as delayed bags and flights) and instantly use funds to purchase what they need most rather than paying out of pocket.

About Faye
Faye is an award-winning travel platform redefining insurance and assistance, enabling smarter and smoother trip taking. The company provides whole-trip protection, financial solutions, 24/7 care, and real-time insights to holistically look after travelers’ journeys across the globe. Learn more at www.withfaye.com.

About Portage 
Portage is a global investment platform focused on FinTech and Financial Services with over US $2.5 Billion assets under management. Our team partners with ambitious companies across all stages, through Portage Ventures and Portage Capital Solutions. We provide flexible capital and deliver a global network of investors, commercial partners, advisors, and value creation experts. With deep industry knowledge and entrepreneurial experience, Portage is committed to supporting the leaders who are reshaping financial services. Portage operates in the United States, Canada and Europe. Portage is a platform within Sagard, a global multi-strategy alternative asset management firm with over $25B under management. For more information, visit www.portageinvest.com.

Faye travel protection plans include insurance benefits underwritten by United States Fire Insurance Company. Zenner Insurance Services, LLC is the licensed producer of Faye travel protection plans. Zenner Claims Administrator LLC is the claims administrators for the travel protection plans.

Contact
Lauren Gumport
VP of Communications
[email protected] 

Photo: https://mma.prnewswire.com/media/2469054/Faye_App.jpg
Logo:  https://mma.prnewswire.com/media/2469055/Faye_Logo.jpg

SOURCE Faye

SHENZHEN, China, July 30, 2024 — Shenzhen Synthetica Pioneering Co., Ltd. (Synthetica), a biotech startup specializing in synthetic biology for engineering novel living bacterial therapeutics, has recently closed a Series A funding round, led by Boehringer Ingelheim Venture Fund and Temasek, with additional participation from Lenovo Capital, Fosun Health Capital and ATLATL Summer Fund. The funding will be used to fast-track Synthetica’s oncolytic bacterial pipelines into clinical trials.

Headquartered in Shenzhen, China, Synthetica is a biotech company founded in 2023, specializing in genetic circuit engineering and precise control of genes and payloads to treat various diseases. Synthetica is currently focused on developing oncolytic bacterial therapies for treating solid tumors. With a deep understanding of biological mechanisms and advanced synthetic biology techniques, Synthetica is aiming to create innovative bacterial treatments that are safe, effective, versatile, and minimally invasive to fight cancer.

Synthetica’s CEO, Yingke He stated: “Securing this funding marks a pivotal moment for our young company as we advance the frontier of cancer treatment. Our innovative synthetic biology approach to developing oncolytic bacteria offers new hope for more effective and targeted therapies. We extend our heartfelt thanks to our technology contributors and financial investors for their trust and support. Together we will drive this breakthrough science forward, and make significant advancements in the fight against cancer, bringing us closer to transforming patients’ lives worldwide.”

Dr. Mia Hu, Investment Director, Boehringer Ingelheim Venture Fund, commented: “Boehringer Ingelheim Venture Fund (BIVF) is committed to invest in innovative therapeutics that address unmet patient needs. Oncolytic bacterial therapy remains a key strategic focus for the Boehringer Ingelheim Venture Fund. The Synthetica team, with its years of expertise in quantitative synthetic biology, is pioneering the development of innovative bacterial therapies for various indications. We are thrilled to support Synthetica in their ongoing efforts to advance next-generation bacterial therapies for the treatment of solid tumors, with the ultimate goal of transforming the lives of more people living with cancer.”

About Shenzhen Synthetica Pioneering Co., Ltd.

Shenzhen Synthetica Pioneering Co., Ltd., a spin-off from the Shenzhen Institute of Advanced Technology (SIAT), Chinese Academy of Sciences (CAS), is a biotech company that harnesses synthetic biology techniques to engineer novel living bacterial therapeutics, addressing unmet medical needs across a range of diseases. Current lead programs focus on therapies for solid tumors.

About Boehringer Ingelheim Venture Fund

Created in 2010, the Boehringer Ingelheim Venture Fund (invests in ground-breaking companies to drive innovation in biomedical research. It is searching for significant enhancements in patient care through pioneering science and its clinical translation by building long-term relationships with scientists and entrepreneurs. The Boehringer Ingelheim Venture Fund’s focus is to target unprecedented concepts addressing high unmet patient needs in immuno-oncology, regenerative medicine, infectious diseases and digital health. For more information, please visit: www.boehringer-ingelheim-venture.com.

About Temasek

Temasek is a global investment company headquartered in Singapore, with a net portfolio value of S$389 billion as at 31 March 2024. Marking its unlisted assets to market would provide S$31 billion of value uplift and bring its mark to market net portfolio value to S$420 billion. Temasek’s Purpose “So Every Generation Prospers” guides it to make a difference for today’s and future generations. Operating on commercial principles, Temasek seeks to deliver sustainable returns over the long term. It has 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and Brussels, London, Mexico City, New York, Paris, San Francisco, and Washington, DC outside Asia. For more information on Temasek, please visit www.temasek.com.sg. 

About Lenovo Capital

Lenovo Capital and Incubator Group, as Lenovo’s global technology industry fund, aims to leverage Lenovo’s global resources to invest in and incubate future technology developments.
Lenovo Capital focuses on technology industry investments, aligning with Lenovo’s “end-edge-cloud-network-intelligence” new IT architecture, supporting Lenovo Group’s service-oriented transformation and technology-driven innovation strategy. They have invested in over 250 portfolio companies, with 18 of them have been successfully listed, more than 40 becoming industry leaders, and over 100 have been rated as national and provincial level Specialized, Refined, Differential and Innovational Enterprises. Around 90% of the portfolios are centered around core technologies, including artificial intelligence, semiconductor chips, smart manufacturing, robotics, and mixed reality, among others.

About Fosun Health Capital

Shanghai Fosun Health Equity Investment Fund Management Co., Ltd, known as “Fosun Health Capital (FHC),” is the core CVC investment platform initiated and established by Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (Fosun Pharma), which leverages Fosun Pharma’s 30-year accumulation in the pharmaceutical field and its profound experience in cooperating with world-class partners. FHC, embodying a strategic dedication to healthcare investment, manages 11 funds with AUM over 10 billion RMB. FHC has covered investments from early-stage ventures to mature enterprises, spanning multiple areas including pharmaceuticals, medical devices, and diagnostics. Fosun Health Capital focuses on a comprehensive strategy that combines investment and industry expertise, offering support that spans from scientific research to operational guidance, to empower its portfolio companies throughout their entire lifecycle and drive their sustainable growth. FHC upholds the tenets of value investing, becoming a discoverer, connector, and long-term strategic partner of worldwide top-tier investment prospects.

About ATLATL Summer fund

ATLATL Summer Fund was jointly established by ATLATL Innovation Group and Summer Capital in 2023. The fund is focused on early innovation value discovery and consolidates the resources of both parties, striving to achieve ecological empowerment and accelerated incubation for the portfolio companies and innovation ecosystem. Through the “Investment + infrastructure” model, the aim is to build integrated value chain of innovation services based on the infrastructure of ATLATL, supplemented by early venture capital platform of Summer Capital, promoting the continuous acceleration of life science innovation.

CONTACT: [email protected]

SOURCE Shenzhen Synthetica Pioneering Co., Ltd.

PORTLAND, Ore., July 25, 2024 — Reason Automation, an enterprise e-commerce data technology startup, is pleased to announce a seed investment from Verify Ventures. Founded by a team of former Amazon vendor managers, marketers, and software engineers, Reason Automation offers a comprehensive SaaS service to help companies operating in the Amazon ecosystem manage their businesses as Amazon does. Reason leverages its deep understanding of all facets of enterprise e-commerce data, from KPIs to building reliable data pipelines and structuring data for chargeback analysis, to create access to reliable data-driven insights.

The investment from Verify Ventures will not only enable Reason Automation to accelerate its growth but also expand its reach, simplifying operations for any company that needs to navigate data from Amazon. “The accuracy of data collected and reported has never been more critical. Reason Automation’s unparalleled precision provides critical insight and builds an essential foundation for the automation offered by AI. By simplifying and automating access to accurate big data, Reason Automation is making the overwhelming challenge even large corporations face manageable, enabling companies to take action, ensuring the best customer experience,” said Russell McLemore, managing partner at Verify Ventures.

Reason Automation CEO Andrew Hamada expressed gratitude for Verify Ventures’ confidence: “This investment is a significant milestone for Reason Automation. Verify’s team has a proven track record of driving sales within startups and large enterprises. I’m excited to have their help accelerating our growth and product development.”

About Reason Automation: Reason Automation (https://www.reasonautomation.com/) was founded in 2020 by a team of former Amazon vendor managers, marketers, and software engineers. With their deep understanding of all facets of enterprise e-commerce data – from KPIs to building data pipelines to structuring data for analysis – their team members ran weekly business reviews and deep dives at Amazon for some of Earth’s largest consumer brands. Now, Reason helps brands manage their businesses like Amazon by democratizing access to data-driven insights, creating more successful organizations, whether you’re a vendor, seller, consultant, agency, or acquirer.

About Verify Venture Studio: Verify Ventures (verifyventurestudio.com) is a venture firm with operations in Portland, Oregon, and Cincinnati, Ohio. Leaders with diverse backgrounds and expertise accelerate new ventures’ momentum as ideas move to launch through rigorous testing and validation, ensuring that customers, entrepreneurs, and investors are delighted by the products and services refined by our practices.

Media Contact: Lance Charlish, [email protected]

SOURCE Verify Venture Studio

Oakland based company joins forces with DCVC to further reduce the fashion industry’s global carbon emissions

OAKLAND, Calif., July 29, 2024 — Today, unspun, the industry leader in 3D weaving technology, announced $32M in an oversubscribed Series B funding round led by DCVC, with participation from Lowercarbon Capital, E12, Decathlon and SOSV.

The funding will fuel the rapid scaling of unspun’s innovative 3D weaving technology, Vega^™—designed to help brands realize a low-inventory, nearshore and automated supply-chain for woven products, which represent 57% of the total apparel market, —as the company expands its operations in Europe and North America.

Vega^™ is the world’s first 3D weaving technology for apparel. It takes thousands of yarns and weaves them into garments in minutes, allowing for (almost) zero-waste, on-demand manufacturing. This technology unlocks scalable on-demand or low-inventory production.

Because 3D weaving drastically shortens supply chains and lead times, brands and manufacturers can plug these machines into existing supply chains for localized and automated production. This opportunity allows traditional cut-make-trim facilities to vertically integrate operations, offering a faster (4 times), cleaner (53% emissions reduction, 49% reduced energy demand and a 39% reduced blue water consumption), more efficient (less than 3% cut waste, compared to the industry average of 15%), and a more agile supply chain that is more responsive to market demands.

unspun has signed multi-year agreements with multiple top retailers like Walmart to deploy its Vega^™ machines for localized production in both North America and Europe. This demonstrates growing demand from major funds, brands, and retailers seeking more sustainable and efficient manufacturing solutions amid growing regulatory pressure and consumer demand for supply chain transparency and sustainability. In Europe, where new rules proposing production limits and waste bans are under consideration, local-for-local manufacturing enabled by unspun’s technology provides a clear competitive edge for compliance. With Vega^™ machines vastly expediting the design-to-shelf process, brands will be empowered to keep up with the ultra-fast cadences set by fast-fashion disruptors while maintaining quality, profitability, and low waste.

With this funding, unspun is taking the first step in rapidly scaling its operations through licensing its technology to established manufacturing partners in Europe.

With record levels of unsold goods circulating in the industry, this has never been more timely. unspun partners with brands and manufacturers who are committed to decarbonizing their fashion supply chains with onshored, low-impact, and automated production. Vega^™ will also have circular supply chain applications, and unspun is developing products and manufacturing techniques that allow for garments to be unspun back into yarns, and re-woven into new products.

“Overproduction has long been a taboo in fashion. It is now recognized by top-tier climate-funds as a key issue to urgently solve for the industry,” says Walden Lam, CEO of unspun. “We are overwhelmed with the enthusiasm, and excited to be partnering with DCVC, Lowercarbon, SOSV climate, Decathlon and many commercial partners to urgently scale Vega^™ to localize apparel manufacturing across North America and Europe.” 

With Vega^™ 3D weaving the product capabilities are endless, and these high-performing jacquard machines can create woven garments using almost any yarn. The current generation of the machines is focused on producing high quality outputs for bottoms (they can also create bags and hats) while future generations of the machines will allow the company to expand into performance categories, outerwear, shoes, tops, and dresses.

“unspun offers a tremendous economic and logistical unlock for the fashion industry by eliminating costly overproduction and radically shortening the supply chain. We think it’s good business to align profits and climate impact and are excited to help unspun revolutionize the way clothing is made,” says Milo Werner, General Partner at DCVC, who will join unspun’s Board of Directors.

This announcement follows unspun’s recent reveal of a project with Walmart, the world’s leading omnichannel retailer. The project aims to localize parts of Walmart’s manufacturing and promote a higher level of supply chain traceability in North America. Before this, unspun partnered with the fashion label Eckhaus Latta. Together, they introduced the first-ever 3D woven collection at New York Fashion Week. These products are now accessible online through various retailers and in stores globally. unspun’s Vega^™ technology continues to be a pioneering force in the fashion and design industry, recently playing a crucial part in the launch of designer Ana Kraš’ lifestyle brand, Teget.

unspun’s technological capabilities and vision for the future of fashion have landed the company on America’s Top Greentech companies 2024 by Time magazine, Vogue 100 innovator’s list, Newsweek’s Climate Change Innovators, TIME’s Best Inventions, and Fast Company’s World-Changing Ideas.

About unspun:

unspun is a US-founded fashion-tech B-corp on a mission to reduce global human carbon emissions by 1%. To accomplish this goal, it is building the tools needed to realize zero-waste and circular production—a future where nothing becomes trash. Its invention, Vega^™, is the world’s first 3D weaving technology for apparel. Vega^™ weaves clothes from yarn within minutes. It simplifies fashion supply chains into a vertical operation, regardless of the location. This proprietary 3D weaving and digital fit technology is the fastest, cleanest, and most cost-competitive way to make woven apparel. Vega^™ unlocks scalable production in a microfactory setting for local, automated and on-demand manufacturing. unspun partners with brands and manufacturers committed to streamlining and decarbonizing fashion supply chains using automated, localized, and low-impact production.

About DCVC:
DCVC is deep tech venture capital. Over more than a dozen years, the firm has backed brilliant entrepreneurs using computational approaches to solve trillion-dollar problems in the real world across a broad set of industries, especially those that haven’t seen material progress in decades. With billions of dollars of assets under management, DCVC builds long-term relationships with the founders it backs. The firm has been with many of its companies from their very start—and through to their recognition by the public markets as category-defining businesses. For more information, please visit www.dcvc.com, or follow us on LinkedIn or Twitter @DCVC.

Press Contacts:
Erin Allweiss | unspun: [email protected]
Hailey Hiss | DCVC: [email protected]

SOURCE unspun

Led by Enlightened Hospitality Investments, co-founded by Danny Meyer, the capital will help fuel the growth of the popular spoon-free, high-protein oats brand

TEMPE, Ariz., July 29, 2024 — Today, Oats Overnight (OON) announces that it has raised $35M in Series B capital. The round was led by Enlightened Hospitality Investments (EHI) with participation from new investor Sonoma Brands Capital and from existing investors including Impatient Ventures, Singh Capital Partners, Morrison Seger Venture Capital Partners, and BFG Partners.

“We are thrilled to have EHI as a partner on this next chapter of growth,” says Brian Tate, founder and CEO of Oats Overnight. “This capital will help us continue our expansion in the retail channel, further develop our manufacturing and distribution footprint, and drive new innovation in collaboration with our community of subscribers.”

Enlightened Hospitality Investments is a pioneering investment firm that fuels growth in people-first organizations. Co-founder and Managing Partner Danny Meyer along with the rest of the EHI team brings their unparalleled expertise and experience in consumer-facing businesses to the venture.

“We are proud to partner with Oats Overnight to join them on their mission to make nutrition both craveable and convenient,” says Meyer. “We are impressed by their innovative approach to product development and ability to commercialize product lines across digital and retail footprints.”

Founded in 2016, Oats Overnight brings customers directly into the R&D process. Each month, a new product is shared pre-launch with over 250,000 active subscribers and the R&D team communicates directly with customers to understand how the product is received. After the survey results are reviewed, the team decides whether to launch the product, as well as what tweaks to make to the formula. The best of these products end up online, as well as on retail shelves like Walmart, Target, Whole Foods, and more.

“Now more than ever, consumers are looking for protein-rich, craveable food,” says Nina McKinney, Oats Overnight Chief Strategy Officer. “Our model allows us to create products that meet these expectations faster than ever before. Working directly with subscribers to fine-tune these formulas pre-launch ensures our innovation pipeline is always in line with consumers evolving preferences.”

To support iterative product development and its growth, Oats Overnight has made significant investments into its manufacturing facilities. The company opened a new 62,000-square-foot facility in Ohio in 2023 and an 86,000-square-foot facility in Arizona in June of this year. This capital investment will continue to support the build-out of the company’s manufacturing, fulfillment, and product development capabilities.

“Controlling the process from procurement to fulfillment has been a key tenet of our business since inception,” says Vincent Comerford, Oats Overnight Chief Operating Officer. “Complete ownership of our supply chain increases resilience while owning manufacturing allows us to produce high-quality products in an iterative way. This process is critical for executing our product development strategy.”

About Oats Overnight
Oats Overnight is a spoon-free, high-protein oatmeal that is prepped at night and ready when you wake up. The company was founded in 2016 by former professional poker player, Brian Tate in Tempe, AZ. He created the first recipes while looking for a better way to fit a nutritional breakfast into his busy schedule. Over 50 flavors have been created to date in their owned manufacturing operations in Arizona and Ohio. To learn more about Oats Overnight, visit oatsovernight.com or @oatsovernight on Instagram.

About EHI
Enlightened Hospitality Investments (EHI) is a value-added strategic investor formed to leverage the brands, businesses, and team of Union Square Hospitality Group to identify growth potential and investment opportunities in both internal and outside ventures. EHI partners with portfolio companies to provide strategic direction, operational experience, increased visibility, and access to relationships, resulting in significant value creation for all stakeholders. For additional information on Enlightened Hospitality Investments, please visit www.ehi.fund.

Oats Overnight Contact:
[email protected]

SOURCE Oats Overnight

PHILADELPHIA, July 29, 2024 — Trio Mobil, a leading provider of AI and IoT solutions for workplace safety and efficiency and a trusted partner for an impressive roster of Fortune 500 companies, has secured $26.5M growth financing led by NewSpring through its dedicated growth equity strategy, NewSpring Growth, focused on delivering working capital to scale fast-growing technology companies. Existing investors 212 and TIBAS Ventures also participated in the round. This investment marks a significant milestone in Trio Mobil’s mission to transform workplace safety and operational efficiency across various industries.

Trio Mobil is at the forefront of innovation, pioneering advanced solutions that enhance safety and increase efficiency in industrial settings. The company offers a robust suite of solutions that meet the safety and efficiency requirements of intralogistics in facilities and warehouses, as well as highway operations.

Collaborating with leading global enterprises such as Coca-Cola, Unilever, St. Gobain, PepsiCo, Mercedes-Benz, Ford, and Beko, Trio Mobil leverages its cutting-edge AI and IoT technologies to revolutionize workplace environments. These solutions enhance safety and advance operational processes, contributing to more productive industries worldwide. Operating across 65 countries, Trio Mobil profoundly impacts workplace safety, protecting over 1 million personnel and inspiring a global shift towards safer work environments.

Addressing Unresolved Workplace Safety Challenges

Alarming statistics from reputable sources underscore the urgency and impact of improving workplace safety. The International Labour Organization reports that almost 3 million people worldwide die from work-related accidents and diseases each year, and nearly 400 million suffer non-fatal work-related injuries annually. These figures highlight the critical need for innovative solutions like those provided by Trio Mobil to mitigate risks and enhance safety protocols in the workplace.

Trio Mobil distinguishes itself in the market with its cutting-edge, comprehensive platform that delivers end-to-end supply chain solutions. This robust platform is enhanced by an array of AI-powered edge devices, including advanced safety cameras and wearables for workers, ensuring both operational efficiency and enhanced safety across various industries.

Trio Mobil’s edge AI computing technology, trained on millions of datasets from various fields, can rapidly identify the most complex safety scenarios in real-time and proactively initiate corresponding actions within milliseconds, utilizing its IoT capabilities. This advanced software sets Trio Mobil’s solution apart, establishing a superior safety network.  This system is designed to help customers achieve their global target of zero accidents, thereby preserving lives and preventing injuries.

Enhancing Global Presence and Expanding Innovation

The newly secured funding marks a significant milestone for Trio Mobil. It enhances the company’s ability to support customers globally, accelerate growth initiatives, and strengthen operations in the US and international markets. Trio Mobil is set to revolutionize workplace safety and efficiency on a worldwide scale. With this investment, Trio Mobil will continue leading the industry with its unique, innovative solutions that ensure unmatched effectiveness and safety standards, solidifying its position as a pioneer in AI and IoT technologies.

Trio Mobil’s CEO Nevzat Atakli and Investors Share Insights on Landmark Funding Round

Nevzat Atakli, CEO and Co-Founder of Trio Mobil, expressed his excitement about the growth funding: “This funding marks a pivotal moment for Trio Mobil. It highlights the transformative potential of our AI and IoT solutions in enhancing workplace safety and operational efficiency. With this investment, we are excited to advance our innovations and better support our global customers in all their operations worldwide. Our mission is to ensure that every worker returns home safely, and this funding brings us significantly closer to achieving that vision on a wider scale.”

Hart Callahan, NewSpring Partner, commented on the investment: “Trio Mobil’s groundbreaking AI and IoT technologies provide a comprehensive safety network that ensures unmatched protection across various industries. This unique approach aligns perfectly with NewSpring Growth’s commitment to supporting visionary founders and entrepreneurs. The potential for Trio Mobil to set new standards and drive advancements in their field is significant. We are excited to partner with this team as they expand their global impact and revolutionize workplace safety and efficiency.”

Numan Numan, Partner at 212, shared insights on the company’s growth: “From the early days as Trio Mobil’s initial VC backer, we’ve watched them soar from promising startup to industry pioneer. Their cutting-edge technology and visionary team aren’t just tapping into the workplace safety market – they’re poised to revolutionize it globally, redefining the future of IoT industries worldwide. We’re thrilled to welcome NewSpring as we embark on the next chapter of this extraordinary journey.”

About Trio Mobil

Trio Mobil is a US-based company offering the industry’s only combined AI and IoT safety and efficiency solutions for manufacturing and warehousing businesses. With over 500,000 connected devices in 65 countries and 2,000+ customers, Trio Mobil has been instrumental in enhancing the operations of well-known brands such as Coca-Cola, Unilever, PepsiCo, Mercedes-Benz, Ford, Beko, and many more.

The company takes pride in its track record of saving lives and preventing injuries through innovative solutions. As the industrial safety and efficiency market grows, Trio Mobil remains committed to addressing unresolved safety issues and driving exponential growth.

For more information on Trio Mobil’s solutions, visit www.triomobil.com.

About NewSpring

NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages approximately $3.5 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having completed over 250 investments, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond.

Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries.

To learn more, visit www.newspringcapital.com.

About 212

212 is a venture capital firm with deeply rooted global networks that bring in growth partners and back bold, growth-stage tech companies across Turkey, CEE, and MENA. Currently, the fund manages over $130M of committed capital across 30 active investments. 212’s time-tested strategy is to advance B2B tech solutions with demonstrated traction, a precise product-market fit, and founders who are ready and eager to scale internationally.

As a firm believer in investing in teams, 212 has built a diverse and dynamic team over a decade while establishing and leveraging a robust presence in Istanbul, London, Dubai, Doha, and San Francisco. Over two funds, 212 has created more than $2B in value by investing in early-stage technology startups.

For more information, please visit: www.212.vc 

About TIBAS Ventures

TIBAS Ventures (formerly 100th Year Venture Capital) is the corporate venture capital arm of Isbank, Turkey’s first and largest private bank. Founded in 1924 with the mission of supporting new businesses and boosting the economy, Isbank continues to support entrepreneurs of the next century in its 100th year.

TIBAS Ventures supports technology driven global startups with exceptional founders and committing to their long-term success and sustainable growth with its sector-agnostic investment philosophy.

For more information, please visit: https://100yvc.com/

SOURCE NewSpring

IRVINE, Calif., July 29, 2024 — Helpt, a 100% US-based technical and customer service solution, today announced it has raised $850,000 in seed funding from Dealbrook Holdings II. The investment will be used to expand the company’s service offerings and accelerate customer acquisition through sales and marketing initiatives and continued platform development.

Founded in 2022 by Matthew Pincus and David Sohn, Helpt has developed a bolt-on technical support service that scales to fit clients’ needs. The company offers human-forward, customer experience focused, round-the-clock support that integrates smoothly with clients’ operations and scales as they grow. Helpt has seen strong early traction, growing its customer base 100% year over year.

“We’re thrilled to partner with Dealbrook as we enter our next phase of growth,” said Matthew Pincus, Co-founder of Helpt. “This investment will allow us to expand our sales and marketing efforts and further develop our platform. We’re excited to build on our early momentum and bring our solution to more growing businesses.”

Dealbrook Holdings II, LLC is led by a seasoned investor with a track record of backing successful startups in the managed service and IT space who will join Helpt’s board of advisors. “Matthew, David, and the team at Helpt have built an impressive service that addresses a clear market need,” said a representative from Dealbrook. “We’re excited to support their vision and help accelerate the company’s growth.”

Helpt plans to use the funding to enhance its service capabilities and expand its market reach. The company is actively hiring for several key positions to support its growth initiatives.

About Helpt
Helpt is a 100% US-based technical and customer service solution that provides seamless, 24/7 support for businesses of all sizes. For more information, visit gethelpt.com.

Contact:
Brian Yu
Press Director
Helpt
4082049614
[email protected]

SOURCE Helpt