HOUSTON, Dec. 17, 2024 — Stellus Capital Management, LLC (“Stellus”) announced today that its affiliates provided senior debt financing and an equity co-investment in support of Clarion Capital Partners’ (“Clarion”) acquisition of Arthur Murray International, Inc. (“Arthur Murray” or the “Company”), an international franchisor of dance studios.

Founded in 1912, Arthur Murray has 300 dance studios in two dozen countries across the world, establishing the Company as a cornerstone in dance education and franchise operations globally. Gary Edwards, a renowned world-ranked dancer with over four decades of experience within the dance industry, will lead the Company as CEO after serving as an ambassador for Arthur Murray for the last 20 years. Edwards succeeds Philip S. Masters as CEO.

“Clarion is honored to partner with Gary Edwards to continue the Arthur Murray legacy Phil Masters built,” said Eric Kogan, Partner at Clarion, adding, “We appreciate Stellus’ partnership throughout the transaction process and look forward to working together to support Arthur Murray’s continued success.”

Colin Baker, Managing Director at Stellus, added, “We are excited to partner with Clarion, Gary, and the rest of the Arthur Murray team. We look forward to supporting the next phase of growth under Clarion’s ownership.”

SOURCE Stellus Capital Management, LLC

SINGAPORE, Dec. 16, 2024 — As Bitcoin surpassed the $100,000 mark on December 5, 2024, this landmark year for the crypto industry is closing on a high note. It has also been a fruitful year for HTX Ventures, the global investment division of HTX, which supported a total of 28 leading crypto projects and funds, continually exploring new frontiers of crypto utility. Recently, HTX Ventures released its 2024 Year In Review, highlighting this year’s key developments in the crypto industry and forecasting market trends for the upcoming year.

Within this report, HTX Ventures highlighted five key sectors that showed encouraging progress in 2024 – the Bitcoin Ecosystem, Infrastructure, Meme Coins, AI, and the TON Ecosystem – and will continue to closely monitor these areas in 2025.

Bitcoin Ecosystem

With Bitcoin dominance reaching 56.81% and Bitcoin spot ETFs now accounting for 5.3% of the total Bitcoin supply, a new market trend has emerged. Bitcoin has solidified its position as the core asset, with spot ETFs acting as liquidity channels, and U.S. listed companies such as MicroStrategy (MSTR) serving as the vehicles to absorb unlimited dollar liquidity.

As a result, it is increasingly essential to further develop Bitcoin‘s ecosystem and enhance capital utilization efficiency. It has driven infrastructure projects, including Layer 2s, execution layers, interoperability solutions and security layers, to continuously emerge.

With strong support from macro markets and infrastructure support, HTX Ventures anticipates a further surge in Bitcoin demand over the next two years.

Infrastructure

Infrastructure remained a cornerstone in this year’s crypto investments and funding. The synergy between capital and technology has driven the rapid development of Layer 1, Layer 2,  and middleware projects, among others.

Through ongoing upgrades and construction, the Ethereum ecosystem has improved Layer 2s’ performance and reduced network fees. Other Layer 1s, such as Solana and TRON, achieved active on-chain transactions, attributable to the development of meme coins, and infrastructure like Pump.fun and Sunpump. Layer 0 and cross-chain middleware have made breakthroughs in interoperability, expanding the multi-chain landscape. Modular public blockchains, like Celestia and Monad, offered exceptional performance and flexibility, thus attracting diverse applications. Restaking projects, which aim to enhance network security and capital efficiency, has seen speedy development and gained market attention. Bitcoin Layer 2 has emerged as a new focus in the primary market for its attempt to combine Bitcoin‘s security with high-performance scaling solutions.

As HTX Ventures stated, infrastructure is still imperative in this year’s crypto investments and funding. Layer 1 solutions, in particular, now represent the focal point of technical development and exploration within the crypto space, and it is expected to remain a priority for development resources and capital investment in the future.

Meme Coins

The Meme coin sector emerged as a hotspot in the crypto market in 2024, fostering community consensus while integrating with fields like DeFi and GameFi to create new use cases. For example, Solana has actively championed the innovation and growth of meme projects, successfully energizing its ecosystem. As the crypto market environment grows increasingly favorable, more retail investors are expected to enter the market, positioning Meme projects as vital channels for capital inflows.

The Meme coin fair launch sector has gained significant market attention and attracted substantial participants this year. Infrastructure projects such as Pump.fun and SunPump have emerged as top-performing cash flow generators, injecting fresh momentum into Meme coin development. As multi-chain ecosystems mature and real-world use cases expand, Meme coin infrastructure will continue injecting more vitality into this sector.

AI

In 2024, the intersection of Crypto and AI sector has been driving the exploration of several segmented fields such as ZK/OPML for enabling AI on-chain, AI data crowdsourcing, decentralized computing power rental, AI data trading, AI games, and AI agents.

One of the hottest segmented fields is AI agents, which are put on chains to take advantage of the token mechanism to incentivise and bootstrap certain behaviors with the agents, including interacting with smart contracts, trading and querying on behalf of users. In the future, AI agents will gradually become personal butlers and assistants for users, serving them with comprehensive capabilities, such as independent asset issuance, initiation of viral marketing campaigns, formation of DAOs, and even fund management and investment decision-making. Over time, they may develop unique cultures and religions. This deep integration of AI and encryption technology is a groundbreaking evolution that is unattainable within Web2 and cannot be achieved by Web3 relying solely on encryption technology.

TON Ecosystem

Attributable to Telegram’s hundreds of millions of users and robust technical support, the TON (The Open Network) ecosystem has progressively developed into a multi-layered blockchain ecosystem. In 2024, it experienced a full-scale boom in its ecosystem and market presence. From DeFi and meme coins to NFTs and gaming, TON leveraged its massive user base to achieve significant milestones in various fields, pioneering the monetization of Web2 social applications through crypto.

One standout success was the adoption of “tap-to-earn” games with token airdrop incentives, which effectively onboarded a large number of Web2 users. However, as the TON ecosystem moves into 2025, it must explore and find new business models to improve user retention and identify its next growth curve.

2025 Outlook

Donald Trump’s expected repeal of SAB 121 after his inauguration on January 20, 2025, would allow traditional financial institutions to hold crypto assets on their balance sheets, further accelerating the institutionalization of crypto assets. The repeal will not only open up more financing options for crypto but also make spot cryptos more accessible through existing institutional exchanges and partnerships.

At the same time, this regulatory easing is poised to enhance the overall maturity of the institutional crypto market. With the entry of traditional financial institutions, Bitcoin is anticipated to gain stronger support and gradually establish itself as a core dollar-denominated asset, alongside others tied to the dollar industry cycles, such as AI.

HTX Ventures points out that the market is still far from its bull market peak. Against the backdrop of Trump’s fiscal expansion policies and unprecedented crypto-friendly signals, a robust bull market is expected.

To learn more, please visit: https://square.htx.com/htx-ventures-2024-year-in-review/

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 a 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 Fund of Funds (“FOF”) investors, 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]

Contact Details
Ruder Finn Asia
[email protected] 

SOURCE HTX Ventures

SILICON SLOPES, Utah, Dec. 16, 2024 — Chargezoom, a leading platform for AI-powered billing and integrated payments, announced today it has raised $11.5 million in Series A funding, led by Salt Lake City’s Kickstart Fund.

This funding marks Chargezoom’s official arrival on the Utah tech scene, setting the stage for the company to scale rapidly and efficiently with the support of Silicon Slopes’ top early-stage venture fund.

“We’re thrilled to be building Chargezoom right here in Utah,” said Matt Dubois, founder and CEO of Chargezoom. “Not only does this validate our vision and provide critical resources, we’re getting an unbeatable strategic partner in Alex Soffe and the team at Kickstart.”

This round is another key milestone in Chargezoom’s rapid growth. Previously, the company closed a $2 million Seed round in July 2021. This investment helped Chargezoom simplify accounts receivable for businesses that need more efficient, agile financial processes.

“Chargezoom is leveraging AI and machine learning to solve crucial needs in the payment space that we’re not seeing anywhere else,” said Alex Soffe of Kickstart. “We’re excited to support their mission to automate AR for growing businesses.”

Since its Seed funding, Chargezoom has grown by 3,972%, driven by its mission to simplify payments and accelerate cash flow for businesses across the U.S. This latest round of funding will fuel Chargezoom’s rapid expansion and bring new resources to its platform.

As Chargezoom enters this new phase, they have restructured their investor lineup to best align with their long-term vision and strategy. Accordingly, BIP Ventures has exited their position with Chargezoom.

Chargezoom is proud to welcome new investors Motley Fool Ventures, Early Light Ventures, Frazier VC and Adly alongside continued support from SaaS Venture Capital, Stout Street Capital, and Okapi Venture Capital. These partnerships underscore a continued belief in Chargezoom’s mission and its potential to redefine the accounts receivable category.

“We’re very excited to move forward with a team of investors that share our values and are fully committed to our mission of being the market leader in AR automation,” said Matt Dubois.

About Chargezoom
Chargezoom is transforming the way businesses handle accounts receivables. Powered by an extensive proprietary dataset and using cutting-edge AI and machine learning, Chargezoom makes invoicing, cash flow, and customer payments seamless and autonomous. No manual work. No wasted time. Just smarter, faster AR that drives financial health and frees businesses to focus on growth.

SOURCE Chargezoom

LOS ANGELES, Dec. 16, 2024 — LA-based Freedom Trail Capital has been named the Most Innovative Equity Investments Firm – North America in Wealth & Finance International’s 2024 Private Equity & Venture Capital Awards. This accolade reflects Freedom Trail’s commitment to reshaping the future of venture capital by investing in culturally influential mission-driven consumer brands.

Freedom Trail Capital is co-founded by Samyr Laine and Ayanna Alexander-Laine, both Olympians. With a portfolio centered around mission-oriented, celebrity-backed consumer brands, Freedom Trail Capital has seen a number of milestones across its portfolio companies. Some of which include:

“We are honored to be included in this list of notable firms. Our team is dedicated to investing in founders and brands that drive change and innovation,” said Samyr Laine, Managing Partner and GP of Freedom Trail Capital. “This award reinforces our mission to democratize access to venture capital and champion the next generation of trail-blazing, transformative consumer brands.”

For more information about Freedom Trail Capital and their portfolio of brand partners, please visit Samyr Laine and Freedom Trail Capital on LinkedIn: https://www.linkedin.com/in/samyrlaine/ 

Media Contact:

LM on behalf of Freedom Trail Capital

[email protected] 

Olivia Ludington

New York, NY

(551) 795-5950

SOURCE Freedom Trail Capital

– Led by the Berman Family, the Strategic Investments Span Current and Former Professional Athletes, Cultural Icons, and Business Leaders, Including Giannis Antetokounmpo, Linda Henry, Avenue Sports Fund and Marc Lasry, Michael Phelps, Dawn Staley and JuJu Watkins –

MIAMI, Dec. 16, 2024 — Today, professional women’s basketball league Unrivaled announced the closure of its oversubscribed Series A investment round led by the Berman Family, securing $28 million in funding. This round includes investments from: 8-time NBA All-Star and NBA Champion Giannis Antetokounmpo and Build Your Legacy Ventures; Co-Owner/CEO of Boston Globe Media and Partner at Fenway Sports Group Linda Henry; Avenue Sports Fund and Marc Lasry; 23-Time Gold Medalist, World Champion, and Mental Health Advocate Michael Phelps and Nicole Phelps, President of Michael Phelps Foundation and Mental Health Advocate; 3-time NCAA Champion Head Coach for South Carolina Women’s Basketball Dawn Staley; Warner Bros. Discovery; Sophomore Guard at USC JuJu Watkins, among others.

Many of the industry titans and all-star group of investors that led its $7 million seed round contributed to Series A funding with additional leading institutional investors, sports icons, and business leaders. Both the seed and Series A rounds totaled $35 million for the new professional women’s basketball league ahead of its inaugural season. Accelerate Sports served as Unrivaled’s investment bank for the capital raise.

“As women’s sports continue to surge in popularity and impact, we’re inspired by the growing momentum around Unrivaled and grateful for the strong support from our investors,” said Unrivaled President Alex Bazzell. “Our players haven’t even taken the court yet and the foundation we are building with our partners unites unparalleled expertise, strategic insight, and an incredible product. Together, we’re setting the stage for Unrivaled for years to come.”

Unrivaled’s Series A Round also includes investment from:

• Amy Banse: Venture Partner, Mosaic, Board Member and Investor, and retired Comcast Corp Executive
• Black Economic Alliance Venture Fund
• Threadneedle Ventures
• Off-Court Ventures
• Richard ‘Rip’ Hamilton: Former NBA All-Star and Champion with the Detroit Pistons 
• Joe Ingles: 11-year NBA veteran and 5-time Olympian for the Australian Men’s National Team

“Based on Avenue Sports’ deep understanding of basketball globally, we believe Unrivaled is well-positioned to thrive in the larger sports ecosystem and we’re proud to back this exciting new league,” said Marc Lasry, Avenue Capital’s Chairman, CEO and Co-Founder. “Unrivaled is setting the standard through their innovative business model at a pivotal time in the growth trajectory of women’s sports.”

Unrivaled was first announced in 2023 by co-founders Napheesa Collier and Breanna Stewart. In May 2024, the League announced an oversubscribed seed round with a star-powered group of investors, many of whom have committed additional investment into this round, including Alex Morgan and Trybe Ventures, Dan Benton, Carmelo Anthony, Geno Auriemma, Moira Forbes, Tyus & Tre Jones, Ashton Kutcher, Dan Rosensweig, John Skipper, Richard Sarnoff and Gary Vaynerchuk.

A league owned by players, every Unrivaled athlete participating in the inaugural season has equity and a vested interest in its success. In November, the League announced its six club rosters and full 2025 schedule. Unrivaled will tip off on January 17, 2025 on TNT Sports, with exclusive live game coverage on TNT and truTV, and all games streamed on Max. Follow unrivaled.basketball and @UnrivaledBasketball for full list of athletes, news and announcements.

Media Contacts:
Melanie Van Dusen, Berk Communications (Unrivaled) – [email protected]
Tish Carmona, Unrivaled – [email protected]

About Unrivaled:
Unrivaled is a professional women’s basketball league innovating the women’s professional sports landscape with a groundbreaking model centered on investing in its athletes. Co-Founded by Breanna Stewart and Napheesa Collier, Unrivaled is player-owned, providing participating players equity opportunities for a vested interest in the league’s success. Launching in January 2025, Unrivaled will feature the current top women’s basketball stars in the world across six teams for a 3-on-3, compressed full court style of play. To learn more, visit unrivaled.basketball or contact [email protected].

SOURCE Unrivaled

HISINGS BACKA, Sweden, Dec. 16, 2024 — Drifter World has successfully secured SEK 36 million in our latest funding round, led by Imperia Fastigheter, owned by Niclas Ericsson. Knutsson Holdings and Per-Olof Andersson also increased their stakes. This investment marks a significant step in Drifter World’s journey, providing the resources needed to accelerate growth and support our continued expansion.

Following this, we are introducing a leadership transition in which co-founder Michael Persson, who has been instrumental in securing funding and driving the company’s strategic direction since its inception, will step down as Chairman. He will continue to contribute as a major shareholder and advisor. Billy Jörgensen will assume the role of Chairman, bringing expertise in commercial law, compliance with international regulatory frameworks, intellectual property, and technology law. With his proven track record in governance and leadership, Billy is well-equipped to strengthen Drifter World’s strategic focus and drive future growth.

The future is here – Imperia Fastigheter enables the national launch of Drifter’s digital AI-based parking system. This investment and leadership transition mark a milestone. Built on the efforts Michael helped drive and strengthened by Billy’s expertise, Drifter is in a strong position, Niclas reflected.

Michael commented: “Drifter is now ready for its next exciting chapter. The foundation is there, the path is clear and the sails are set. I will stay close.”

Billy stated: “I am honored to take on the role of Chairman at this pivotal moment for Drifter World. Michael’s exceptional expertise and strategic guidance have laid a strong foundation, and his continued involvement as an advisor will be invaluable for future initiatives. Drifter World is at the forefront of transforming the parking industry, and I am excited to collaborate with Fredrik and the team to drive innovation and sustainable growth.”  

“This strategic investment marks a pivotal moment for Drifter World as we gear up for our next phase of growth. With a strengthened financial position and a renewed leadership structure, we are well-positioned to focus on the Nordic market while remaining ready to expand internationally in the future,” CEO Fredrik Durling added.

Building on this investment and momentum, Drifter World’s valued partnerships with Tele2, Axis, Monta, and Easypark will evolve further, enhancing our innovative solutions and shaping the future of smart parking.

For more information, please contact:

Billy Jörgensen, Chairman
[email protected]

www.drifterworld.com

Drifter World transforms parking management with AI, smart sensors, and advanced technology. Our ecosystem streamlines payments, detects violations, optimizes spaces, and provides real-time data. Prioritizing simplicity and accessibility, we create value for parking lot owners and drivers alike.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/drifter-world/r/drifter-world-secures-strategic-investment-and-announces-new-chairman,c4082514

The following files are available for download:

SOURCE Drifter World

CHELMSFORD, Mass., Dec. 16, 2024 — Triton Anchor is pleased to announce a series of significant milestones that strengthen the company’s position in the offshore renewable energy sector:

• Successful completion of $2.2M Seed financing with a $1M cornerstone investment co-led by a Scottish-based family office with strong offshore energy connections;
• Selection for $3.5M in new non-dilutive grant funding that drives its market entry and accelerates key growth initiatives;
• Launch of Triton Anchor Europe (TAE) subsidiary, based in Scotland; and
• Appointment of an industry veteran with executive experience at a global leader in offshore wind to lead TAE.

These achievements demonstrate Triton Anchor’s dedication to innovation in offshore anchoring systems and mark a pivotal step in the company’s global expansion. With the establishment of Triton Anchor Europe, the company is uniquely positioned to address the growing demand for sustainable solutions in the offshore wind market, reinforcing its commitment to advancing the renewable energy transition worldwide.

Strategic Investment and Partnerships

The Seed round was co-led by MWNW Consulting Group, a distinguished organization celebrating 40 years of expertise in offshore construction and seabed intervention. Their involvement supports the establishment of Triton Anchor Europe (TAE) and reinforces Triton Anchor’s commitment to delivering sustainable solutions in offshore wind energy. TAE specializes in developing high-uplift-capacity anchoring systems uniquely designed for the offshore wind sector, with applications across all offshore industries.  The Seed round was also supported by OS Impact Investment, Katapult Deep Ocean Blue Fund, the Massachusetts Clean Energy Center (MassCEC), and Triton Early Growth Fund.

TAE will be led by an energy industry veteran in Scotland with over a decade of experience at one of the global leaders in offshore wind energy. The company plans to formally announce this appointment in early Q1 2025. “We are excited about this addition to our leadership team, as the executive’s expertise, paired with Triton Anchor’s innovative technology, positions us to make a significant impact in the offshore energy sector.” said Mike Wilson, founder of MWNW Consulting Group. “This investment reflects our belief in Triton Anchor’s vision and technology. This new leadership will drive Triton Anchor Europe to deliver tailored solutions that meet the complex demands of the offshore wind market.”

From new leadership, “I’m delighted to continue my journey in the offshore renewable energy sector as the new leader of TAE.  I’m very privileged to join such an experienced team with a proven track record of end-to-end delivery and value creation.  I truly believe this market disrupting technology will prove beneficial to lowering the cost of energy, creating local supply chains, and ultimately building a more sustainable future for all.  I look forward to realizing these goals for TAE and its shareholders.”

MWNW & Rivtide

MWNW’s investment aligns with its proven history of building and exiting successful ventures, including Ecosse Subsea Systems, which was acquired in 2018. MWNW’s involvement adds valuable strategic and operational expertise to Triton Anchor’s European expansion.

“Scotland has long been a recognized leader in the offshore energy sector and is now the leading epicenter of offshore wind for Europe and indeed the world.  Having a presence in Scotland, a partnership with MWNW, and leadership of TAE by an industry veteran, propels TAE to the forefront, as a solution provider in the rapidly growing offshore wind market and positively impacts the company’s presence in Europe and ROW markets, where we have a pipeline of project opportunities.” said Ross Haghighat, Managing Partner of Triton’s early growth fund, co-leading the seed investment round.

Through its strategic partnership with MWNW Consulting Group, Triton Anchor gains access to extensive expertise in offshore construction and renewable energy innovation. This partnership also opens avenues for collaboration with RivTide, a pioneering company specializing in low-speed, high-flow tidal and river power generation. The technical synergies and common customer base between Triton Anchor and RivTide present unique opportunities to drive mutual growth, accelerate clean energy adoption, and enhance revenue potential. By leveraging MWNW’s proven track record of building and exiting successful ventures, Triton Anchor is well-positioned to deliver impactful solutions in the European offshore wind market and beyond.

Expanding Into Europe

Europe is a global leader in the offshore wind market, and the establishment of Triton Anchor Europe reflects Triton Anchor’s strategic focus on this critical region. With a robust $1.5 billion pipeline of global projects, including anchor installations planned for Scotland, Holland, and Portugal, Triton Anchor is poised to address significant market opportunities. By establishing operations in Aberdeen and Edinburgh, the company gains access to Europe’s advanced offshore wind infrastructure, a highly skilled workforce, and regulatory incentives that support renewable energy innovation. This local presence strengthens Triton Anchor’s ability to deliver innovative solutions to European developers and positions the company as a trusted partner in the rapidly growing offshore market. Key stakeholders include Scottish Economic Development and European Union groups.

Positioning for Global Growth

Triton Anchor’s advanced anchoring systems are pivotal for supporting the renewable energy transition, offering scalable, sustainable solutions for offshore wind projects worldwide. By establishing a robust presence in Europe, the company is well-positioned to lead in the global offshore energy market. By combining cutting-edge technology with strategic partnerships, the company is positioned to address the increasing global demand for sustainable offshore solutions. The establishment of TAE serves as a launchpad for expanding the company’s presence in key international markets.

About Triton Anchor

Triton Anchor is a leader in offshore anchoring systems, providing innovative solutions for the renewable energy sector. With a strong focus on sustainability and global growth, the company is dedicated to empowering the transition to clean energy through cutting-edge technology and strategic partnerships.

SOURCE Triton Anchor

PHOENIX, Dec. 16, 2024 — Trinity Capital Inc. (NASDAQ: TRIN) (“Trinity”), a leading provider of diversified financial solutions to growth-oriented companies, today announced the commitment of $50 million in equipment financing to Form Energy, an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems.

Form Energy aims to reform the global electricity system through the development of innovative, low-cost multi-day energy storage solutions. The company is pioneering an iron-air battery capable of storing electricity for 100 hours at system costs competitive with legacy power plants. Founded in 2017 by a group of energy storage experts, Form Energy aims to enhance the reliability and sustainability of energy systems.

“Form Energy’s groundbreaking iron-air battery technology has the potential to redefine the future of energy storage,” said Cory Cramer, Director, Equipment Finance at Trinity. “We’re excited to partner with the company as they scale their operations and accelerate the pathway to a clean and reliable electric grid.”

This financing comes on the heels of Form Energy’s $455 million Series F fundraise led by T. Rowe Price. The equipment financing will be used to finance capital equipment for the company’s first high volume battery manufacturing facility located in Weirton, West Virginia.

“We are thrilled to have Trinity’s support as we grow our business and increase manufacturing capacity to meet the growing demand for our multi-day energy storage system,” said Charlotte Beard, CFO of Form Energy.

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 Form Energy

Form Energy is an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems. Form Energy’s first announced commercial product is a rechargeable iron-air battery capable of delivering electricity for 100 hours at system costs competitive with conventional power plants. Made from iron, one of the safest, cheapest, and most abundant minerals on Earth, this front-of-the-meter battery can be used continuously over a multi-day period and will enable a reliable and secure grid year-round. Learn more: Form Energy and LinkedIn.

SOURCE Trinity Capital Inc.

Company unveils breakthrough platform that integrates epiproteomics and AI to identify predictive biomarkers for personalized treatments and support drug development

TEL AVIV, Israel, Dec. 16, 2024 — Promise Bio, a startup transforming immune-mediated disease treatment with advanced precision medicine solutions, today announced its emergence from stealth with an $8.3 million seed investment. This funding will accelerate the development of Promise Bio’s computational platform, which uses epiproteomics and artificial intelligence to predict patient treatment responses and support drug research and development.

“Current biological treatments for autoimmune diseases don’t work in all patients, with only 30-40% of patients achieving significant remission. At Promise Bio, our mission is to eliminate the trial-and-error approach by introducing tools for data-driven decisions,” said Ronel Veksler, Co-founder & CEO of Promise Bio. “The key to addressing this challenge lies in focusing on the right biological data—proteins, the building blocks of our body. It’s not just about protein levels but understanding the changes they undergo after formation. The PROMISE (Protein Modification Integrated Search Engine) platform does exactly that, enabling us to get closer to bringing precision medicine to diseases that currently lack effective tools.”

Promise Bio’s innovative platform is rooted in years of foundational research conducted by Dr. Assaf Kacen, Co-Founder & CTO of Promise Bio, in the lab of Prof. Yifat Merbl, Scientific Co-Founder of the company, at the Weizmann Institute of Science. The groundbreaking research into protein modifications and immune response, featured in Nature Biotechnology in 2023, laid the foundation for developing Promise Bio’s computational platform. Dr. Kacen built on this research to create a system that enables broad-scale profiling of dozens of post-translational modifications (PTMs) from mass-spectrometry data without needing customized chemical enrichment or additional lab procedures.

“Determining the change in the protein level or relying on just blood count caused by a complex immune response is like looking at a black-and-white TV screen with poor resolution,” said Dr. Assaf Kacen, Co-Founder & CTO of Promise Bio. “Our platform extracts modifications that occur to the proteins resulting from the disease; those specific changes inform us about aberrations in protein function or regulation. Interpreting it with machine learning approaches is like watching a colored TV with an unparalleled high-resolution view of the underlying biology.”  

The $8.3 million seed investment, led by Awz Ventures, and with funding via AION Lab’s venture seeding track from AstraZeneca and Pfizer, provides Promise Bio with crucial financial backing to accelerate the development of its platform. This funding, along a grant from the Israel Innovation Authority, strengthens the company’s ability to scale its cutting-edge technology and expand its research capabilities.

The strategic partnerships with the two leading biopharmaceutical companies offer more than just financial support—they bring invaluable industry expertise, access to global networks, and collaboration opportunities to integrate Promise Bio’s platform into drug development pipelines. Together, these resources position the company to rapidly advance precision medicine solutions for immune-mediated diseases while building the world’s largest PTM database, a vital resource for future medical breakthroughs.

“At AION Labs, we are committed to fostering innovation that can reshape healthcare,” said Mati Gill, CEO of AION Labs. “Promise Bio’s integration of epiproteomics and AI holds immense promise for transforming treatment approaches in immune-mediated diseases. This first AION seeding track investment aligns with our mission to support breakthrough computational and AI science in our field, and we’re excited to be part of this journey toward impactful change for patients worldwide.”

“Awz is honored to support Promise Bio’s transformative approach to addressing immune-mediated diseases,” said Yaron Ashkenazi, Founder & Managing Partner of Awz, a global investment firm focused on multi-use innovations across deep-tech, medtech, and more. “Awz has deep confidence in Promise Bio’s visionary leadership and distinctive strategy, which we believe are poised to set new standards in the field. Our investment reflects our commitment to backing this transformative team with the potential to advance personalized medicine and make a lasting impact on patient outcomes.”

Through the Awz X-Seed Hub in Tel Aviv, Awz’s Active Capital strategy provides Promise Bio with multi-stage investment, hands-on mentorship, strategic partnerships, and preparation for future funding rounds, including the unique joint investment from leading pharmaceutical companies via AION Labs.

About Promise Bio

Promise Bio is a pioneering precision medicine company focused on transforming the management of immune-mediated diseases through epiproteomics and artificial intelligence. Built on groundbreaking research from the Weizmann Institute of Science, Promise Bio analyzes proteins and their post-translational modifications (PTMs) with exceptional precision. This proprietary technology allows for large-scale PTM profiling, helping researchers uncover disease mechanisms, tailor therapies, and discover new drug targets. For more information, visit www.promise.bio.

For media inquiries please contact [email protected]

SOURCE Promise Bio