LEHI, Utah, Aug. 7, 2024 — Carketa, a leading provider of end-to-end data and intelligence software for the automotive industry, is pleased to announce the successful close of a $4.4M early growth round. This round was led by new investor Capital Eleven, with participation from both new and existing investors, including Crosslink Capital, Origin Ventures, Allegis Capital, and Peak Ventures.

Founded by Jason Berry and Brady Thurgood, Carketa helps dealerships buy, manage, service, and sell inventory faster and for more profit while enabling finance, insurance, lending, warranty, and other related companies to better target and interact with dealers who fit their business models.

This strategic investment comes at an exciting time for the company, with the recent launch of an expanded product suite. Carketa’s new AI-infused Buy Suite helps dealers know what inventory to acquire, where to find that inventory, and how much to pay for it. Paired with Carketa’s existing inventory-focused Manage and Service suites, the Buy Suite is setting the standard for a data- and insights-driven platform to maximize dealership profits. More than 1,000 dealerships have adopted Carketa’s Buy Suite tools and data services since its release from beta in May.

Tim Hansen, CEO of Carketa, commented on the round: “This round of funding validates the leadership role that Carketa is taking in the automotive industry with our suite of profit intelligence software tools, paired with proprietary real-time data and insights. We are grateful for the trust and support of this wonderful investor group and are excited to continue accelerating Carketa’s reach and impact in the industry. This was the right amount of capital from the right group of investors to help our company push our platform, data, and insights forward.”

“Capital Eleven is excited to lead this funding round for Carketa,” said Travis Hawkes, Managing Partner at Capital Eleven. “We believe in Carketa’s vision and are confident that their innovative solutions will continue to disrupt the automotive industry and drive significant value for dealers and other industry players alike. We are very excited to back this truly innovative team at Carketa.”

Jim Feuille, Partner at Crosslink Capital, who led Carketa’s Pre-Seed round, continues to be impressed with what Carketa has accomplished. “We are thrilled with the traction and progress that the Carketa team has generated,” said Feuille. “Our continued investment underscores our belief in their talented team and their ability to deliver transformative solutions to a massive market that has been starving for accessible, easy-to-use, and powerful digital solutions.”

“Carketa is bringing data and insights to bear in a market that was forced to adapt to rapid change,” said Scott Stern, Partner at Origin Ventures, who led Carketa’s Seed round of funding. “Vehicle values continue to oscillate as inventory supply and demand remain in flux, requiring dealerships—and other value creators who work with dealerships—to rely on data and insights to maximize profit creation. Carketa is uniquely positioned to be the trusted partner to dealerships and enterprises in the automotive industry.”

Carketa: Revolutionizing Automotive Profit Intelligence

Carketa’s end-to-end intelligence software is transforming the automotive industry—boosting car dealer confidence, profitability, and scale. As an industry-first platform, Carketa delivers unmatched front-end and back-end insights paired with powerful, easy-to-use software solutions for every stage of a vehicle’s lifecycle. In addition to dealers, Carketa works with OEMs, lenders, warranty administrators, and insurance providers to unlock new opportunities, drive sales, reduce risk, and increase shareholder value. Transform your business with Carketa. Visit www.carketa.com for more information.

SOURCE Carketa Inc.

New funding to invest in product development, talent acquisition, and global expansion, advancing supply chain sustainability

TAIPEI, Aug. 6, 2024 — BBTruck, a global leader in supply chain and logistics technology, announces the successful closure of its pre-series A funding round. Spearheaded by Oasis Venture, H2U Corp., and StarWorks Entrepreneurial Venture Capital, this round has brought BBTruck’s total funding to $6.5 million.

This new capital infusion will accelerate BBTruck’s global market expansion, particularly in North America and Southeast Asia, and bolster product development and talent acquisition initiatives. BBTruck aims to revolutionize supply chain logistics with its cutting-edge technology, aspiring to create a comprehensive global logistics technology ecosystem.

“From day one, BBTruck envisions a global logistics technology ecosystem that ensures flexibility and efficiency. We are excited to have the support of such esteemed investors as we embark on this next phase of growth,” said Steven Chou, CEO and co-founder of BBTruck. “This funding will enable us to enhance our technology offerings and expand our presence in key markets, allowing us to better serve our clients and fully transform the logistics industry.”

Building a Global Logistics Technology Ecosystem

Founded in 2019, BBTruck addresses the fragmentation and integration challenges inherent in traditional logistics. The company offers a one-stop B2B supply chain logistics platform that enables precise capacity calculation and allocation. BBTruck’s platform aims to make logistics management more transparent and efficient. To date, BBTruck has served over 50 international enterprises across diverse industries, including top server providers, renowned Japanese automation and electronics manufacturers, global tire industry giant, major Japanese international logistics brand, and Taiwan’s top home delivery service.

The pre-series A funding will enable BBTruck to focus on three key areas – accelerating expansion into North America and Southeast Asia, including Vietnam, Malaysia, Singapore, Thailand, and Indonesia; enhancing technical capabilities in capacity data analysis and integration; and recruiting top talent to grow its team. The company aims to build a transparent and shared global logistics ecosystem that provides enterprises greater flexibility in managing their supply chain logistics.

Innovative Solutions for Enhanced Logistics Efficiency and Flexibility

Taiwan’s logistics sector suffers from inefficiencies due to reliance on manual processes and phone orders, leading to frequent empty return trips. BBTruck bridges this gap with its transparent logistics management platform, which integrates crucial data on truck sizes, devices, real-time orders, capacity, and addresses. By leveraging big data analysis, BBTruck’s platform automatically allocates the most suitable transport fleet, maximizing logistics resource efficiency, cutting empty truck rates by nearly 75% and improving order placement and cargo tracking efficiency by over 40%, resulting in significant cost savings for customers.

Additionally, BBTruck offers a real-time cloud data center that lets enterprises monitor capacity data, track shipments, and view routes via an intuitive user interface. The platform’s API integration facilitates seamless data exchange across multiple carriers and freight companies, streamlining orders placement, shipments tracking, and document retrieval from a single interface. This integration significantly reduces manpower costs and enhances the overall logistics experience.

Championing Sustainable Logistics

In line with the global goal to achieve net-zero carbon emissions by 2050, BBTruck is dedicated to promoting sustainable logistics. Acknowledging the environmental impact of logistics and capacity waste, BBTruck employs innovative technology to drive efficiency and sustainability. Certified under Taiwan’s ISO 14067 standard for product carbon footprint, the BBTruck platform utilizes big data to optimize transport efficiency and reduce carbon footprints, assisting enterprises in achieving carbon-neutral logistics and fostering sustainable supply chain development.”

BBTruck is also advancing its logistics data carbon auditing, allowing enterprises using its solution to access carbon emission data for external logistics providers under Scope 3 of the GHG Protocol. This facilitates their transition to greener practices and offers a competitive advantage in sustainable supply chains. Looking ahead, BBTruck will continue to harness innovative technology to enhance transportation efficiency, reduce carbon emissions, and promote sustainability in logistics, paving the way for a more sustainable future.

About BBTruck

Founded in 2019, BBTruck is a pioneering one-stop platform for supply chain and logistics technology. Our mission is to build a transparent, shared global logistics ecosystem that simplifies supply chain management. As a leader in logistics technology, BBTruck uses cutting-edge solutions for precise capacity calculation and allocation, ensuring efficient, flexible, and sustainable logistics. Since launch, BBTruck has served over 50 top-tier enterprises in technology, healthcare, international logistics, and retail. BBTruck is also the first to achieve carbon-neutral transportation, driving the green logistics revolution and advancing toward a zero-carbon future.

For more information, visit BBTruck’s official website: https://bbtruck.cc/index_en.html 

SOURCE BBTruck

HOUSTON, Aug. 6, 2024 — Founded in January 2022 Medical Resource Group DBA MRG Health Inc – Smart Care 360 is a Digital Healthcare Management Services Company which offers a comprehensive virtual care management platform. The technology enables clinicians to more effectively address chronic care conditions and social determinants of health. With an interoperability platform, MRG Health can assist private practice doctors’ offices, community health systems, FQHC’s, hospitals, and payers engage with their patients and optimize the patient’s overall health. Collectively, MRG Health’s tools ultimately partner with clinicians to lower healthcare costs through improved healthcare access, care coordination, preventative screenings, remote medication and biometric vital monitoring, and symptom management.

This initial seed round was led personally by Dr. Jean Durand Jean-Bernard Durand | MD Anderson Cancer Center of Houston TX and Capital Factory Capital Factory | Home of Texas Entrepreneurs | Coworking & Private Offices which is head quartered in Austin Tx. To date the company has closed $900K of a $2M seed round and has reached profitability in preparation for a series A investment.

Clinical Oversight Leadership is led by Medical Director Kyle Hodebecke MD, MBA, MTE, MPA, MS, FAAFP, FABS, CPE who is Family Practice Board Certified Licensed in 12 States and who was previously Medical Director for the U.S. Army and Oscar Health with his counterpart Chief Clinical Officer Amie Sun Wright MD PhD who was previously Medical Director of United Health – WellMed and Genesis Medical Group.

MRG Health – Smart Care 360 was initially bootstrapped through 2+ years of significant R&D to complete vertical market specific use cases and platform build out. There are currently over 100 clinics, and 20,000+ patients utilizing the technology in a variety of different vertical markets. The company has just officially come out of stealth mode and plans on using the capital to execute existing contracts, enroll 10,000+ patients, and expand outside of Texas.

Medical Resource Group – MRG HEALTH – Medical Resource Group‘s management team are highly regarded subject matter experts that bring extensive experience in the healthcare market. Collectively, the team has built and scaled a very robust comprehensive SAAS platform that is designed to support clinical teams to optimize the care delivery model and lower overall healthcare costs for patients managing 1+ or more chronic disease.

Smart Care 360 – SmartCare360 is a Virtual Care Management Platform that is compatible with Apple, Android or web-based platforms and available in 8+ different languages. The platform integrates with 250+ FDA approved biometric vital monitoring devices as well as all electronic medical systems. The platforms care system is designed to identify specific risk factors through population health risk stratification and patient risk scoring with 25+ prebuilt care pathways around the most prevalent chronic issues that contain clinical decision support care guides that identify problems, goals, and interventions to assist care teams and the patients with the ability to customize care pathways.

“We are excited to come out of stealth mode to truly make a difference in healthcare at the patient and provider level. There has been significant R&D done over the past few years to pull together our platform and care delivery services. We have an extreme amount of data validating what we’re doing, its clinical efficacy, and how it truly helps improve patient care. I’m really looking forward to serving the less fortunate and rural communities by improving access to care and disrupting health & wellness delivery models.” – Founder Kyle Christopher Hayungs.

To connect with someone in business development or investor relations go here https://mrghealth.com/schedule-an-assessment/ or email [email protected] 

Platform Overview: Explainer Video 

Investment Opportunity: Presentation Document 

SOURCE MRG Health Inc – Smart Care 360

SINGAPORE, Aug. 6, 2024 —  HTX Ventures, the global investment arm of the cryptocurrency exchange HTX, has announced a strategic investment in Nexio. Nexio is an innovative Bitcoin scaling solution that employs parallelized ZK Rollup with MoveVM.

Powered by MoveVM, Nexio’s parallelized Bitcoin rollup supports over 30,000 transactions per second while maintaining gas fees below $0.01, making it ideal for high-frequency applications. This technology addresses critical challenges in the Bitcoin ecosystem, including slow transaction times, high gas fees, and inadequate tooling that have hindered mass adoption.

Nexio has recently raised $2.2 million in pre-seed funding led by Lattice Fund, with participation from HTX Ventures. Aiming to revolutionize Bitcoin‘s scalability and usability, this funding will enable Nexio to accelerate the development and adoption of its parallelized Bitcoin rollup technology. Nexio is establishing new norms in blockchain technology under the leadership of co-founders skilled in Bitcoin zkVM Rollup development.

Nexio’s technology combines a zk-Rollup, Multi-Party Computation (MPC) Threshold Signature Scheme, and the Fractal interpreter to set new benchmarks in speed, security, and interoperability. By utilizing MPC Threshold Signatures, Nexio prevents single points of failure, offering robust, decentralized transaction validation that is more secure than traditional multisig approaches.

“Nexio’s innovative Bitcoin scaling solution is designed to enhance Bitcoin‘s capabilities and bridge the gap between different blockchain ecosystems. It seamlessly integrates applications and liquidity from Move, Cosmos, and any EVM-compatible ecosystems into Bitcoin,” said Edward, Managing Partner at HTX Ventures. “Nexio also offers highly competitive low gas fees while providing a high TPS infrastructure. HTX Ventures is excited to support Nexio in unlocking a new era of innovation and adoption within the Bitcoin ecosystem, facilitating the growth of complex DeFi applications, gaming platforms, NFT marketplaces, and infrastructure projects on its platform.”

“Nexio’s vision is to unlock Bitcoin‘s full potential by providing scalable, secure, and cost-effective infrastructure,” said Charlie Gordon, co-founder of Nexio. Through its partnership with Movement Labs, Nexio has built a framework that combines horizontal interoperability through high-throughput modular Move Virtual Machines with vertical composability. This integration enables developers to build with Aptos move, Sui move, and Solidity, ensuring robust cross-chain functionality and seamless asset movement across platforms.

Nexio aims to achieve several key milestones in the next 6-12 months, including the rollout of a permissionless testnet and the subsequent launch of their mainnet solution. These developments will mark significant steps toward revolutionizing the Bitcoin ecosystem with enhanced scalability, security, and interoperability.

About Nexio

Nexio is revolutionizing Bitcoin scalability through a parallelized Bitcoin rollup. The team is building a suite of products and services that empower developers to leverage the power of Bitcoin for complex DeFi applications, gaming platforms, NFT marketplaces, and infrastructure projects without compromising on security or efficiency. Nexio’s technology supports over 30,000 transactions per second with ultra-low gas fees, making it ideal for high-frequency applications. Led by co-founders with significant expertise in Bitcoin zkVM rollup development, Nexio is setting new standards in blockchain technology.

For more information, follow on X @buildnexio and on Discord

About HTX Ventures

HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With more than decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.

HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active FOF (Fund of Funds) funds, HTX Ventures invests in 30 top global funds and collaborates with leading blockchain funds such as Polychain, Dragonfly, Bankless, Gitcoin, Figment, Nomad, Animoca, and Hack VC to jointly build a blockchain ecosystem. Visit us here.

Feel free to contact us for investment and collaboration at [email protected]

SOURCE HTX

LOS ANGELES, Aug. 6, 2024 — Nammi Therapeutics, Inc. (Nammi) announces a $1M investment commitment by the Myeloma Investment Fund (MIF) in a $30M Series B financing round prior to the planned start of a first-in-human Phase 1 study of our lead program, QXL138AM, in patients with locally advanced unresectable and/or metastatic solid tumors and multiple myeloma.

QXL138AM is a Masked Immunocytokine (MIC) comprised of a masked interferon alpha (IFNa) fused to an antibody that targets the CD138 protein on the surface of the tumor cells. Once QXL138AM binds to the tumor cell, proteases on the cell surface cleave the mask off of the IFNa allowing it to bind its receptor. Activation of the IFNa receptor complex induces direct killing of tumor cells in addition to activating innate and adaptive anti-tumor immunity. Preclinical data has demonstrated significant anti-tumor efficacy across more than 10 tumor types including multiple myeloma where complete regression at doses as low as 0.1 mg/kg have been observed. Nammi has secured Orphan Drug Designation in multiple myeloma from the FDA on the strength of this data.

“While the multiple myeloma field has greatly benefitted from development of bispecific and cell therapies, there unfortunately remains a significant need for novel therapeutics such as QXL138AM.”, said David Stover, Ph.D., President and CEO of Nammi. “We are very excited to partner with MIF and the Multiple Myeloma Research Foundation (MMRF) and leverage their expertise to accelerate the development of QXL138AM. Together, we will work to realize the potential of this therapy to improve the lives of patients with multiple myeloma.”

With this investment by MIF, Nammi anticipates the $30M Series B financing round will be fully subscribed upon its closing when the first patient has been treated with QXL138AM.

“Nammi’s innovative technology and its application in multiple myeloma is an important step for the myeloma patient community,” said Michael Andreini, President and CEO of the Multiple Myeloma Research Foundation. “Advancing new therapeutic options for patients is the most critical task-at-hand, so we are thrilled to support Nammi’s Phase-1 trial to learn the potential of this exciting new immunotherapy approach.”

About Nammi Therapeutics, Inc.

Nammi Therapeutics, Inc. is an immuno-oncology company based in Los Angeles that is developing platforms and products that selectively activate anti-tumor immunity within the tumor microenvironment while minimizing systemic activation.  By reducing systemic activation of the immune system, Nammi expects to improve safety and enhance the ability to combine multiple immune modulators.  In addition to the MIC platform, Nammi has also developed a nanoparticle platform to deliver Immune Modulating Prodrugs (IMPs) using their Nammisome technology. Multiple Nammisome clinical candidates have also been selected for development. For more information visit www.nammirx.com or email [email protected]  

About the Myeloma Investment Fund (MIF)

The Myeloma Investment Fund is a venture philanthropy fund that invests in promising companies, clinical assets, and technologies in oncology to drive the development of new therapies for multiple myeloma. The MIF collaborates closely with portfolio companies to help them advance multiple myeloma research. This evergreen fund is supported entirely by philanthropy; all profits will be reinvested back into research for more effective treatments until there is a cure for every patient. For more information, visit www.myelomainvestmentfund.org 

About the Multiple Myeloma Research Foundation (MMRF)

The Multiple Myeloma Research Foundation (MMRF) is the largest nonprofit in the world solely focused on accelerating a cure for each and every multiple myeloma patient. We drive the development and delivery of next-generation therapies, leverage data to identify optimal and more personalized treatment approaches and empower myeloma patients and the broader community with information and resources to extend their lives. Central to our mission is our commitment to advancing health equity so that all myeloma patients can benefit from the scientific and clinical advances we pursue. Since our inception, the MMRF has committed over $600 million for research, opened nearly 100 clinical trials, and helped bring 15+ FDA-approved therapies to market, which have tripled the life expectancy of myeloma patients. To learn more, visit www.themmrf.org 

For MMRF or MIF media inquiries, please contact: Anna Otis, Manager, Brand Marketing, [email protected]

SOURCE Nammi Therapeutics, Inc.

New Equity Financing to Fuel Continued Growth, Product Innovation, and Expansion into New Markets

NEW YORK, Aug. 6, 2024 — Octane^® (Octane Lending, Inc.^®), the fintech revolutionizing the buying experience for major recreational purchases, announced that it has closed its Series E funding round with $50 million in new equity capital. Octane has raised $242 million in total equity funding to date.

The capital will fuel Octane’s expansion into new markets, supercharge its growth in existing markets, and position the company even more favorably for long-term success. This funding round is unique in that it was composed entirely of existing investors looking to increase their investment in the company. Valar Ventures led the round with participation from Upper90.

“We’re honored to strengthen our relationship with Valar and Upper90 as we bring speed and ease to the financing experience,” said Jason Guss, CEO and Co-Founder of Octane. “Octane’s digital tools and broad credit coverage have propelled us to become a leader in our initial market of powersports and gain significant traction in adjacent markets, like RVs. This new funding will help us build on this momentum and expand into new markets as we connect even more people with their passions.”

Since its founding in 2014, Octane has redefined the financing experience in the nearly $30 billion powersports market, which includes motorcycles, ATVs, UTVs, and personal watercraft. The company’s innovative digital tools, including the industry-leading dealer platform and award-winning suite of soft-pull prequalification tools, help its over 4,000 dealer partners deliver a seamless experience to their customers. Through its in-house lender, Roadrunner Financial^®, Inc., Octane has originated over $4 billion in loans and expanded into recreational vehicles (RVs), tractors, trailers, and electric vehicles. The company works with over 30 original equipment manufacturer (OEM) partners.

About Octane: 
Octane^® is revolutionizing recreational purchases by delivering a seamless, end-to-end digital buying experience. We connect people with their passions by combining cutting-edge technology and innovative risk strategies to make lifestyle purchases–like powersports vehicles, RVs, and outdoor power equipment–fast, easy, and accessible.

Octane adds value throughout the customer journey: inspiring enthusiasts with the Octane Media™ editorial brands, including Cycle World^® and UTV Driver^®, instantly prequalifying consumers for financing online, routing customers to dealerships for an easy closing, and supporting customers throughout their loan with superior loan servicing.

Founded in 2014, we have more than 30 OEM and 4,000 dealer partners, and a team of over 500 in remote and hybrid roles. Visit www.octane.co.

Octane^® and Roadrunner Financial^® are registered service marks of Octane Lending, Inc.

Media Relations: Shannon O’Hara
[email protected]                                                                  

Investor Relations: 
[email protected]

SOURCE Octane

COLUMBUS, Ohio, Aug. 6, 2024 — HubiFi, an advanced financial intelligence and revenue recognition solution, announced today it has secured $2.5M in a seed funding round co-led by Motivate Ventures, Anthemis (supported by Foxe Capital), and Rev1. Today also marks the launch of HubiFi’s Stripe Connector, enabling enterprise accounting and finance teams to measure revenue to cash with the click of a button.

Founded in 2023, HubiFi supports high-transaction companies’ accounting and finance teams to streamline complex financial data management processes. In today’s competitive business landscape, current financial teams and operators utilize heroics and heuristics to create a comprehensive analysis of revenue and margin performance because the underlying financial data on “profit and loss” (P&L) is never at the level of detail or segmentation needed; obstacles within this process lead to revenue leakage, and margin erosion. HubiFi’s fully automated system allows teams to aggregate and disaggregate by any segment, swiftly identifying operational drivers in their financials and capitalizing on often overlooked opportunities.

With the capital infusion, HubiFi plans to build a foundational team with a focus on product and engineering and add to the team with CPA and accounting expertise. By bolstering its talent base, HubiFi will gain deeper insights into customer needs and optimize the product development roadmap.

Since its inception, HubiFi has bootstrapped and validated its thesis, attracting a customer cohort within the high-transaction enterprise landscape, particularly in digital D2C and insurance.

By 2024, the startup had enough traction and data to clearly demonstrate a significant market gap to its team and investors. With HubiFi’s latest integration with Stripe, the technology manages complex revenue recognition use cases for customers utilizing subscription management, billing, payment, or any of Stripe’s products. In addition, the solution’s partnership with Paystand highlights their complementary strengths, with HubiFi focusing on revenue recognition and analytics while Paystand provides payment solutions without the variable fee model of Stripe.

“Unlike current ‘Revenue Management’ tools on the market, HubiFi is built to handle not just the ‘happy path’ use cases. We actually support mid-stream changes, multiple product lines, backdating, and disputes. said Jason Berwanger, co-founder and CEO of HubiFi. “Accounting and finance teams can rely on our automation, move beyond data management, and focus on improving their businesses.”

“Motivate is proud to be backing Jason and Bill, exceptional people who identified and began solving a simple yet difficult problem pervasive to tens of thousands of businesses,” said David Wieland, Founder and Managing Partner at Motivate VC. “We believe HubiFi is soon to become the next must-have tool for CFOs.”

“HubiFi has consistently demonstrated that existing ERP and General Ledger solutions do not adequately adapt to the needs of high-transaction businesses,” said Amy Nauiokas, Founder and CEO at Anthemis. “We are highly impressed by HubiFi’s proprietary data-mapping capabilities, which allow customers to adopt the technology in just days, swiftly enhancing their business processes.”

For more information, visit HubiFi.

About HubiFi

HubiFi is a finance intelligence and data management platform for built for high-transaction finance and accounting teams. Founded in 2023 by Jason Berwanger and Bill Kaper, HubiFi fully automates accounting and continuous reconciliations, enabling businesses to close an accounting period in hours instead of weeks.

For more information please contact: [email protected]

SOURCE HubiFi

SEATTLE, Aug. 6, 2024 — Seeq, a leader in industrial analytics, AI, and monitoring, announced today it has closed a $50 million Series D funding round led by leading global investment firm Sixth Street Growth, with participation from existing investors including Insight Partners, Altira Group, Second Avenue Partners, and Saudi Aramco Energy Ventures. This round brings Seeq’s total funding to approximately $165 million. Nari Ansari, Managing Director at Sixth Street Growth, will join Seeq’s Board of Directors.

Founded in 2013, Seeq serves hundreds of customers in energy, chemicals, pharmaceuticals, utilities, mining and materials, and other industrial sectors in 36 countries.

“Seeq has become the industry leader in industrial analytics through continuous, customer-inspired innovation, including its newest product, Seeq Vantage for Industrial Enterprise Monitoring,” said Dr. Lisa Graham, CEO at Seeq. “This investment bolsters Seeq’s ability to support our customers’ critical industry needs. We are excited to continue our growth with a stronger balance sheet and partnership with Sixth Street.”

“Seeq is uniquely positioned to build the next generation of technologies, especially AI, to optimize manufacturing and operational processes across multiple industries,” said Ansari. “Seeq brings together a company’s disparate time-series operational data sources with other structured and unstructured data to enable unique insights into understanding both the best and most challenging aspects of their operations.”

“Every company wants to identify key improvements through use cases like golden batch, emission reduction, energy utilization, asset optimization, and predictive maintenance,” added Claire Zhang and Chris Perron, Vice Presidents at Sixth Street Growth. “We are confident Seeq will continue to transform the way organizations unlock the power of their people and data to drive consistent, sustainable business results.”

“Seeq enables us to make data-driven decisions across many use cases that have delivered fast, quantifiable, real value,” said Dr. Sami Bahroun, Head of Industrial Data Science and Advanced Automation at Syensqo, formerly Solvay. “The new GenAI, advanced machine learning, and industrial monitoring capabilities fulfill unmet needs in addressing today’s workforce upskilling and operational challenges. We look forward to continuing to accelerate our digital transformation efforts and gain more value across the enterprise with Seeq.”

Lazard served as financial advisor to Sixth Street Growth in connection with the investment.

To learn more about Seeq, visit www.seeq.com.

About Seeq Corporation
Seeq, a global leader in advanced analytics, AI, and enterprise monitoring for industrial companies, delivers a self-service, enterprise SaaS platform and solutions to accelerate critical insights and action from historically unused data. Energy, pharmaceutical, specialty chemical, materials, mining, utility, and numerous other vertical industries rely on Seeq to optimize business and production outcomes, including yield, margins, quality, and sustainability. Seeq is a privately held virtual company with employees across the United States, Asia, Canada, Europe, and South America. To learn more about Seeq, visit www.seeq.com.

About Sixth Street Growth
Sixth Street Growth makes investments in mid- and late-stage technology companies. The Sixth Street Growth team partners with founders and management teams to provide differentiated capital solutions to accelerate organic and inorganic growth. Sixth Street Growth is the dedicated growth investing platform of Sixth Street, a leading global investment firm with over $75 billion in assets under management and committed capital. Sixth Street has invested over $9 billion in more than 70 companies through its Growth franchise since inception. Select Sixth Street Growth investments include Airbnb, AvidXchange, Bloomreach, Clio, Contentsquare, Datavant, Gainsight, Kaseya, MasterControl, MDLIVE, Spotify, and Sprinklr. For more information, visit www.sixthstreetgrowth.com, and follow Sixth Street on LinkedIn.

Media Contact:
Sydney DeLosh
206-801-9339
[email protected] 

SOURCE Seeq Corporation

Strong support from existing shareholders which includes Lilly, Advent Life Sciences, Columbus Ventures, Sound Bioventures and Belinda Termeer

CAMBRIDGE, Mass., Aug. 6, 2024 — Artax Biopharma, Inc., a clinical-stage biotechnology company focused on transforming the treatment of autoimmune diseases, today announces the closure of an $8 million convertible debt financing, supported by Eli Lilly and Company, Advent Life Sciences, Columbus Ventures, Sound Bioventures and Belinda Termeer.

Artax’s lead asset, AX-158, is the first in a new class of Nck blockers, which have the potential to establish a new standard of care in autoimmune disease treatment. The molecule acts by selectively targeting Nck function, which plays a critical role in immune system function, and recalibrates the body’s T-cell receptor (TCR) responses. This recalibration to responses allows the immune system to continue functioning properly and activate only when it recognizes true disease threats – preventing self-activation without causing immune suppression that makes the body susceptible to numerous infections. Results from the Phase 2a clinical trial in psoriasis is expected before year end. 

“We have been strong believers in the broad potential of Nck modulation and very much look forward to see the highly anticipated topline data of first-in-class Nck modulator AX-158 in psoriasis later this year,” said Damià Tormo, a partner at Columbus Venture Partners. “Artax has a highly experienced team who have executed well, getting us into position to discover what Nck modulation can mean for autoimmune patients.”

“We are very grateful to participating shareholders, who see great promise in Nck modulation to address unmet need in autoimmune disease, for their continued support as we execute on our strategy to make Nck a universal oral therapy for autoimmune diseases. We are now well on our way to announcing first patient data with lead program AX-158 in psoriasis patients later this year,” commented Artax Chief Executive Officer, Rob Armstrong, Ph.D.

About Artax Biopharma
Artax Biopharma is a clinical-stage biotechnology company transforming the treatment of T Cell-driven autoimmune diseases. Artax’s first-in-class oral small molecules aim to deliver immune system modulation without immunosuppression, potentially unlocking new treatment options as both monotherapy and in combination with other treatments. The lead program AX-158 will deliver Phase 2a Proof of Concept data in psoriasis later in 2024.

We believe there is significant potential for its approach to revolutionize treatment of T Cell-driven diseases. Immunomodulation maintains healthy control of the immune system and addresses the underlying source of T Cell-driven diseases. Central to a well-functioning immune system is the T Cell Receptor (TCR). When TCR signaling becomes dysregulated, it causes T Cell-driven conditions, including autoimmune diseases, and induced T Cell pathologies where medical treatments result in immune reactions (such as stem cell transplants resulting in acute graft-versus-host-disease or immuno-oncology treatments resulting in immune related-adverse events). We believe the immunomodulation mechanism offered by our investigational agents holds broad potential to revolutionize how these T Cell-driven autoimmune diseases are addressed, while not impairing the ability of a patient’s immune system to function properly.

Artax Biopharma is based in the Boston area and raised Series A & B and a convertible debt financing from Eli Lilly & Co., Advent Life Sciences, Sound Bioventures, Columbus Venture Partners, and others. For more info, see www.artaxbiopharma.com or follow us on LinkedIn. 

SOURCE Artax Biopharma