DETROIT, Feb. 7, 2025 — InvestNext, a Detroit-based real estate investment management platform, announced today the successful completion of its $15 million Series B funding round. The investment, led by Beringea, is part of a strategic move to evolve and expand the platform to help firms navigate increasing regulatory complexities and investor demands.

“Amid increasing regulatory scrutiny and a real estate capital market that is more accessible than ever, it is crucial for firms to be equipped to scale efficiently, adapt to a growing base of sophisticated LPs and capital partners, and navigate risk while maintaining compliance with the SEC and other regulatory frameworks,” said Kevin Heras, Co-Founder and CEO of InvestNext. “This funding enables us to continue building the connected platform for real estate private capital and deliver the same level of access and transparency to private real estate markets that investors have in public markets.”

InvestNext is the leading solution for real estate investment professionals to raise and manage capital more efficiently. The platform is designed to expedite capital raising and ensure greater accuracy in the work of General Partners, Finance Leaders, Compliance Officers, and Investor Relations teams. Since its inception, InvestNext has focused on building fully digital solutions to the most complex and nuanced workflows in real estate investing, including investor subscription documentation and accreditation, secure payments, waterfall distributions, automated cap table management, and K-1 disseminations.

With personnel across the US and Canada, InvestNext has over 1,600 GP clients, helping them manage over 70,000 global investors across 105,000 active investments. The company also boasts an industry-leading 96% customer retention rate, showing their dedication to providing exceptional value and building long-term relationships with their clients.

Despite the numerous challenges in tech and real estate over the last several years, InvestNext has continued to deliver consistent growth and exceptional retention, making it a top performer in the tech sector. However, co-founders Kevin Heras, Michael Gisi, and Matthew Attou have always held a firm belief that stable and scalable growth is essential to their path forward, a perspective that greatly impacted their approach to raising Series B.

Co-founder and Chief Product Officer Matthew Attou states, “Many clients choose InvestNext not only because of our product, but also because they align with our values and operational principles. It was incredibly important to us that we align with our investors the same way – and we feel like we’ve been able to do that with this Series B.”

InvestNext’s partnership with Beringea signals an important milestone in their journey, but their focus remains the same. As a product-centric company, InvestNext is determined to build the most compliant and secure investment management platform on the market, equipping clients to meet challenges like increased regulatory scrutiny in real estate head on.

“The InvestNext platform is not just innovative—it’s empowering key stakeholders like general partners, finance leaders, compliance officers, and investor relations teams to work more efficiently and develop stronger ties with their investors,” said Ben Bernstein, Principal at Beringea and incoming InvestNext board director. “That’s the kind of transformational solution we’re excited to support as it scales to meet increasing demand in the real estate investing space.”

InvestNext’s success is a testament to their commitment to transparency, innovation, and solving the most critical challenges in real estate investment management.

Whitecap Venture Partners, a long time investor in Prop Tech, is excited to reinvest in InvestNext. “With a strong team and best in class product, we are confident they will continue to drive growth and disruption in the industry,” said Shayn Diamond, Partner.

With this new funding, InvestNext will expand its platform capabilities, introducing new tools to help GPs navigate compliance, capital raising, and investor engagement with greater efficiency. The company remains committed to delivering exceptional support while building a future-proof platform that empowers real estate investment firms to scale with confidence.

Book your demo to see if InvestNext is a great fit for your firm: https://investnext.com.

About InvestNext:
InvestNext is a cutting-edge real estate investment management platform for raising and managing capital more efficiently. With industry-leading technology for fundraising, investor management, compliance tracking, and financial automation, InvestNext empowers real estate investment funds and syndicates to save time on operations and build lasting investor loyalty. Based in Detroit with employees across the US and Canada, InvestNext is trusted by over 1,600 general partners and 70,000 investors. Learn more at investnext.com.

About Beringea:
Beringea is a venture capital firm empowering entrepreneurs across the U.S., U.K., and Europe to build great businesses. With offices in Detroit and London and over $715 million under management in the United States and United Kingdom, their three decade-long track record of successful investing across every major industry has cultivated an exceptional network throughout the technology and investment communities. Learn more at beringea.com.

About Whitecap Venture Partners:
Whitecap Venture Partners is a Canadian VC firm with a track record spanning three decades and five funds. Whitecap V closed in 2021 with a fund size of $150M, supported by leading institutions and family offices, and is focused on lead investments in early-stage financings across Canada. Whitecap focuses on B2B software and MedTech opportunities, areas where the team of long-time investors and former operators have deep expertise, and works closely with founders to support portfolio companies post-investment. Learn more at whitecapvp.com.

Contact: Andrew Berg
Sr. Director, Marketing
469-571-3262
[email protected]

SOURCE InvestNext

MARLBOROUGH, Mass., Feb. 7, 2025 — Edacious, a multi-disciplinary technology company transforming the relationship between agriculture and human health, today announced the successful close of its $8.1 million Series Seed funding round. The round was led by Patagonia’s Tin Shed Ventures, with participation from the Nest Family Office, Trailhead Capital, Grantham Environmental Trust’s Neglected Climate Opportunities, iSelect Capital, First Thirty, Pelican Ag, and other private investors.

With this seed funding, Edacious will scale operations, enhance its proprietary tools, and deepen collaborations across the food system to create a more transparent food system and healthier planet.

“At Edacious, we have the data and technology to reveal how genetics, soil health, and management practices impact nutrition in our food,” said Eric Smith, Edacious founder and CEO. “This funding allows us to build the platform necessary to break the cycle of commoditization by empowering producers and consumers with verified, actionable data for food quality differentiation.”

The modern food system prioritizes yield above all else, yet the disconnect between food production and human health continues to grow. Focusing on quantity has led to declining food quality, environmental degradation, and poor nutrition.

Edacious is unlocking comparative benchmarks for whole foods and ingredients to dispel the idea that nutrition is a single data point. Most retailers and consumers, for example, treat apples as nutritionally identical. However, Edacious’ data reveals that in groups of similar foods, like apples, key nutrient levels may vary up to 10x.

By measuring more than 200 compounds essential to human health, Edacious provides unprecedented insight into what drives nutritional differences and their implications for producers, brands, markets, and policymakers.

“Nutritional transparency has the potential to reshape our food system,” added Paul Lightfoot, General Manager of Patagonia Provisions. “Edacious’ approach not only advances soil health but also empowers producers and consumers with critical data to make informed choices. We’re proud to support a company making such a profound impact on both human and environmental health.”

In pursuit of a food system that prioritizes human and planetary health, Edacious delivers two core solutions:

• A next-generation food lab that replaces incomplete and costly testing services with a streamlined, affordable analysis of nutrients, including vitamins, minerals, fats, proteins, and carbohydrates
• A science-based software platform that allows users to understand, compare, benchmark, and share nutrition data and insights within and outside their organizations

“Nutrient density should be the catalyst for full food and agriculture value chain transformation,” said Pete Oberle of Trailhead Capital. “Edacious is making that possible by measuring and mapping nutrient density 10 times faster and cheaper, with an intuitive interface that incentivizes and enables the best regenerative practices from producer to consumer.”

These tools provide actionable insights for producers, consumer packaged goods (CPG) brands, genetics companies, ingredient manufacturers, and retailers—enabling them to measure and communicate the nutritional quality of whole foods, ultimately connecting the dots to their impacts on human health. By making this data accessible and actionable, Edacious is setting a new standard for nutritional measurement and transparency, driving demand for foods that are better for people and the planet.

About Edacious

Edacious is a multi-disciplinary technology company dedicated to transforming the global food system through nutritional transparency. By connecting the dots between agriculture and human health, Edacious empowers producers and consumers with the tools and data needed to prioritize nutrition, flavor, and sustainability. To learn more, visit www.edacious.com.

Media Contact

David Ganske
DG+Design
[email protected]

SOURCE Edacious

Funding Fuels Expansion of White-labeled Experiential Technology for Global Brands

MIAMI, Feb. 6, 2025 — Superlogic, a trailblazer in experiential rewards technology, today announced a first closing of $13.7 million in its Series A funding round. Led by Powerledger, the round also saw participation from prominent investors, including Sangha Capital, 10SQ, Nima Capital, Actai Unicorn Fund, Hyla Liquid Venture Fund, Liquid 2 Ventures. Other Superlogic investors also include leading enterprises and blockchain funds such as Amex Ventures, Galaxy Interactive, Mirabaud Lifestyle Impact and Innovation, Recharge Capital, Dispersion Capital, Sanctor Capital and more. The investment boosts Superlogic’s total equity funding to over $21 million, accelerating the company’s mission of transforming consumer engagement by providing next-gen rewards technology and “money-can’t-buy” experiences at scale to top global brands.

Superlogic’s platform leverages AI-driven insights to connect customers with experiences tailored to their interests. Whether it’s courtside seats to an NBA Finals game, tickets to exclusive music festivals, private dining with world-renowned chefs, or cultural deep-dives like a behind-the-scenes look at a Broadway production, Superlogic delivers world-class experiential inventory at scale to some of the world’s top loyalty programs via seamless API integration, or turn-key white-labeled platform, enabling brands to deliver personalized programs that increase loyalty and drive deeper engagement.

“Experiential is the new frontier of loyalty. Superlogic is the first company to deliver both unmatched experience inventory at scale AND next-gen engagement technology to major brands,” said Lin Dai, CEO and Co-Founder of Superlogic. “This investment is a testament to the transformative potential of our platform. With this funding, we’re ready to meet the market demand, and bring our next-gen technology and experiences to tens of millions more consumers.”

The funding comes as Superlogic continues to expand its platform capabilities and scale its partnerships, powering loyalty programs for global enterprises. Dr. Jemma Green, Executive Chairman of Powerledger, and best-selling author of the transformative book, Empathy and Understanding In Business, will be joining industry leaders including Stephen Cooper, previously CEO of Warner Music Group, on Superlogic’s board of directors. Dr. Green will bring a unique perspective to the board, guiding Superlogic in integrating environmental accountability into loyalty programs, opening up new opportunities for brands and consumers to embrace sustainability.

“We see incredible potential in transforming consumer behavior through meaningful rewards, and we’re thrilled to support a company like Superlogic that’s redefining experiential engagement,” said Dr. Jemma Green, CEO and Co-founder of Powerledger. “I’m excited to join the board and I look forward to working with Lin and the Superlogic team to create new loyalty experiences that’s not just effortless but also impactful for brands and consumers.”

For more information, visit http://www.superlogic.com.

About Superlogic
Superlogic is the leading provider of world-class experiential inventory and rewards technology. Our enterprise-grade white-labeled platform enhances major brand loyalty offerings by bringing together the best of global music, sports, dining and culture to consumers around the world. www.superlogic.com.

Media Contact:
Jessica Ortiz, VP
[email protected]
Ditto PR

SOURCE Superlogic

MINNEAPOLIS, Feb. 6, 2025 — Traction Capital is proud to announce that Matt Meents has joined the firm full-time as a Strategic Growth Partner. In this role, Meents will work closely with existing portfolio companies while also supporting future investments as Traction Capital prepares to launch its second fund in Q1/Q2 of 2025.

Meents has been a key member of the Traction Capital Advisory Committee, offering strategic insights and guidance on investment decisions. Now, as he steps into this full-time role, he will leverage his expertise to help founders navigate growth challenges, scale efficiently, and achieve long-term success.

With over 25 years of experience in building, scaling, and transitioning high-growth companies, Meents is a visionary entrepreneur and leader in the startup and venture space. As Co-Founder & CEO of Magnet360, he scaled the company from bootstrapped origins to $50M in annual revenue, serving Fortune 2000 clients and earning investment from Salesforce Ventures before a successful acquisition by Mindtree in 2016. He later Co-Founded Yardstik, a VC-backed SaaS platform, where he drove growth, improved margins, and built revenue predictability before transitioning to a board leadership role. Both Yardstik and Magnet360 have earned multiple Best Place to Work accolades and are innovation award winners.

Beyond his entrepreneurial success, Meents is passionate about mentoring and equipping the next generation of founders. He teaches entrepreneurship at the University of St. Thomas, speaks frequently on leadership and culture, and shares his deep expertise in EOS^® (Entrepreneurial Operating System^®) —bringing practical frameworks to help companies thrive.

“We are beyond excited to welcome Matt to the Traction Capital team,” said Shane Erickson, Founder and Managing Partner of Traction Capital. “His ability to scale businesses, build award-winning cultures, and create momentum will be invaluable to our portfolio companies. As we gear up for Fund II, Matt’s expertise will help founders navigate growth challenges, unlock new opportunities, and ultimately drive success.”

Meents sees this new role at Traction Capital as a natural extension of his journey, allowing him to leverage his experience to help other founders succeed. “I’m at a stage where I can take everything I’ve learned—bootstrapping Magnet360, scaling Yardstik through VC funding—and use that experience to help other founders achieve more. Through teaching and Traction Capital, I have the opportunity to empower the next generation, amplify their possibilities, and create impact at scale. This is a new challenge, but one that aligns perfectly with my purpose, my strengths, and the integrated life I want to live.”

As Traction Capital continues to invest in high-growth companies and founders with a vision, Meents will play a key role in providing hands-on strategic guidance, ensuring businesses have the tools and leadership needed to scale effectively.

About Traction Capital:  
Traction Capital is a Minnesota-based growth equity firm comprised of successful business owners and entrepreneurs. Founded in 2020, the firm invests in and acquires Minnesota and Midwest early-stage and profitable companies stuck in the “capital gap”. Traction Capital believes that investing both financial and “smart” capital with a proven business management process (EOS^®) during this critical stage sets businesses up for more rapid growth. They help founders with strategy and execution through their own experiences and that of their investors, to scale and exit at attractive valuations. 

For more information, please visit: https://tractioncapital.com/ 

Ellie Pigott
(515) 423-9210
[email protected]

SOURCE Traction Capital

CHEVY CHASE, Md., Feb. 6, 2025 — FCP® has closed on a $16.7 million preferred equity investment through its Structured Investments platform to finance Royal Palm at Nona, a 320-unit, Class A multifamily development adjacent to Lake Nona in Orlando, FL. The project, located at 14630 New Creek Avenue, is being developed by Royal Palm Companies, a leading institutional-quality sponsor with a track record of delivering best-in-class residential communities.

“FCP is actively deploying capital to support high-quality developments in growth-oriented markets and Lake Nona is a prime example of the type of submarket where we see long-term opportunity,” said Bruce Gago, who leads FCP’s Florida office. “This transaction underscores our ability to provide flexible, strategic capital to experienced sponsors like Royal Palm Companies, who are developing in-demand housing in supply-constrained markets.”

Billy Herbert, a leader on FCP’s development team, added, “Royal Palm at Nona will deliver a highly amenitized, modern residential community in one of Orlando’s most dynamic submarkets. With proximity to the Central Florida Greenway, Florida’s Turnpike, and Orlando International Airport, the project will benefit from sustained demand fueled by the area’s booming health and life sciences industry, anchored by the renowned Medical City master-planned district.”

“With Royal Palm at Nona, we are setting a new standard for luxury living in one of Orlando’s most dynamic and innovative communities,” said Dan Kodsi, CEO of Royal Palm Companies. Kodsi continued, “This project represents our commitment to creating high-quality, thoughtfully designed spaces that elevate the lifestyle of our residents while fostering community growth and enhancing the surrounding area. By integrating modern design with sustainable and luxurious amenities, we aim to deliver an exceptional living experience that benefits our residents, partners, and the Lake Nona region as a whole. This development will set a new benchmark for elevated living in the Orlando area.”

FCP and Royal Palm Companies extend their appreciation to Patrick Dufour and Scott Ramey of Newmark Florida for arranging this transaction.

About FCP
FCP_® is a privately held real estate investment company that has invested in or financed more than $13.1 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit fcpdc.com.

About Royal Palm Companies
Royal Palm Companies (RPC) is a leading real estate development firm with more than 40 years of experience delivering transformative projects that redefine suburban and urban living. Established in the 1970s, RPC has developed an impressive portfolio of more than 9,500 units across mixed-use developments, multifamily residences, and luxury hospitality projects, with a combined asset value exceeding $4.7 billion. Under Daniel Kodsi’s leadership, RPC has earned a reputation for innovation, quality, and sustainability. Leveraging a global network of investors from more than 50 countries, RPC continues to set new benchmarks in real estate development. For information about their latest investment opportunities, visit www.participantcapital.com.

Media Contact: Karen Widmayer
KW Communications, LLC           
[email protected]
301-661-1448

SOURCE FCP

Round led by Energize Capital underscores critical need for software to operate profitable energy projects at scale and enable the clean energy transition

SAN FRANCISCO, Feb. 6, 2025 — Tyba, a leading energy storage optimization platform, today announced $13.9 million in Series A funding led by Energize Capital. The round includes new investment from Pear VC, Mobilize Climate Capital, and Borusan Ventures and follow-on investment from Powerhouse, Wireframe, Virta, and Lorimer. This brings Tyba’s total funding to $18.15 million.

This capital will help Tyba scale its AI-enabled energy forecasting, trading and optimization solution, which helps energy producers maximize revenue, support grid reliability, and strategically expand their portfolios as they transition to clean energy. 

The U.S. power grid is transforming, driven by a shift to clean energy and rising electricity demand. Battery storage, in particular, is essential for maximizing the efficiency and profitability of renewable energy investments, ensuring power is available whenever it’s needed and at prices that make these investments worthwhile. In the last three years, storage capacity has grown 6x, to an estimated 30GW, indicating the rapid increase in energy storage needs.

Despite this rapid growth, managing storage assets is inherently complex given rapidly evolving power markets and the range of services batteries can provide. Operators need advanced forecasting and optimization tools, like Tyba, to ensure they can continue to support grid needs while remaining profitable.

“Batteries are essential to develop more clean energy and power our modern economy. For the companies building and operating battery storage facilities, figuring out how to maximize the value of their assets and maintain a competitive edge remains a constant challenge,” said Michael Baker, CEO & Co-founder of Tyba. “Tyba is the autopilot system for batteries. Our platform forecasts opportunities, executes automated dispatch and bidding strategies, and provides the visibility and control needed for traders and asset managers to manage their facilities profitably and at scale. We make the nitty gritty of battery operations easy so our customers can focus on meeting our country’s energy needs.”

Tyba works with many of the world’s leading energy companies, such as TotalEnergies, and supports the operations of over 1GWh of storage assets in Texas and California. In the past year, Tyba has tripled its customer base, launched its Asset Operations product, and is delivering revenue outcomes in the top 5% of assets. Since Tyba’s founding, its Project Simulation product has been used to model over 100GW of projects under development and secure over $1 billion in funding.

“TotalEnergies is rapidly growing our generation portfolio, and Tyba’s platform has been key to maximizing our asset’s performance,” said Michael Heitmann, Head of US Short Term Power for TotalEnergies. “Their solution empowers our team to focus on high-leverage, strategic decisions while their platform handles the execution of day-to-day operations, making them a valued and reliable partner.”

Tyba’s platform is where automation meets control. The Asset Operations product formulates optimal bidding strategies and automates dispatch, while empowering operators to make quick, strategic adjustments with the click of a button. This ensures profitability with less oversight, freeing teams to focus on developing the next wave of energy storage systems, which can be designed using Tyba’s Project Simulation product.

“Large-scale energy storage is proving to be essential to the energy transition, especially as we respond to surging global energy demand and an increasingly complex power grid,” said Tyler Lancaster, partner at Energize Capital and a member of Tyba’s board of directors. “However, operational challenges continue to be one of the most significant barriers to scale for battery assets, in part due to the active, hands-on management these assets require. Tyba’s solution tackles this challenge head-on, leveraging AI to enhance the profitability of battery storage by facilitating development decision-making and optimizing dispatch strategies. We are excited to partner with the Tyba team and support the company in this next phase of growth.”

This funding will help Tyba expand its forecasting and optimization capabilities into new markets, and across asset classes. To continue broadening its offerings, the company is hiring across its engineering, modeling, and commercial functions.

About Tyba
Tyba helps energy companies maximize the profitability of energy projects with a unified simulation and operations platform. Developers, owners, and operators use Tyba as their mission control center – to inform and automate energy storage operations, while maintaining the ability to make strategy adjustments with the click of a button. This approach helps their partners – including TotalEnergies, White Pine Renewables, and Linea Energy – maximize project revenue and sustainably scale their portfolios. We believe that profitable renewable energy investments are essential to ensure the clean energy transition. With Tyba, profit maximization and grid decarbonization go hand-in-hand.

About Energize Capital
Energize Capital is a leading investor in climate solutions. Founded in 2016 and based in Chicago, Energize seeks to scale sustainable innovation by partnering with the builders and operators shaping the future. To date, Energize has funded 30 companies and deployed more than $750 million through its venture capital and growth equity strategies. Anchored by founding partner Invenergy, the firm is backed by strategic, institutional, and impact LPs including CDPQ, Credit Suisse, GE Vernova, Xcel Energy, Caterpillar, HASI and more. For more information on Energize, please visit www.energizecap.com.

SOURCE Tyba

Supported by key partners AlleyCorp, Fast Forward, Firedoll Foundation, and the GitLab Foundation, the funding will drive advancements in Mobile Pathways’ groundbreaking AI tools for immigration legal cases.

SAN FRANCISCO, Feb. 6, 2025 — Mobile Pathways, a leading tech nonprofit ensuring fair access to justice for immigrants, has successfully raised $1 million to advance its AI-based technology platform Pathfinder. Supported by key partners like GitLab Foundation, Firedoll Foundation, AlleyCorp, and Fast Forward, this funding will transform the way immigration attorneys and advocates manage complex immigration cases.

Specifically, the new funding will drive advancements in Pathfinder, a groundbreaking artificial intelligence (AI) tool that automates immigration status alerts, centralizes vital legal information, and provides data-driven insights. Ultimately, this initiative will break down barriers for asylum seekers by improving access to justice while opening up better employment opportunities.

“Pathfinder has been a game-changer for my law firm,” says Gianfranco De Girolamo, immigration attorney at DGO Legal. “It helps my team understand cases instantly, from consultation to adjudication, while alerting us of any changes.”

Through new enhancements, Pathfinder’s AI technology will leverage U.S. Citizenship and Immigration Services data to speed up the work authorization process. Most importantly, the new funding will allow immigration nonprofits to access Pathfinder’s case history reports for free.

The number of asylum seekers seeking relief in the United States has tripled since 2022, and Mobile Pathways’ recent data underscores the urgent need for legal support.

“We’re proud to partner with Mobile Pathways to expand the reach of Pathfinder’s technology, enabling immigration advocates to empower communities with fair access to justice and meaningful employment opportunities,” said Ellie Bertani, CEO of GitLab Foundation.

Harnessing the power of AI in immigration law is challenging, given its overlap with multiple government agencies. As such, key supporter AlleyCorp has played a pivotal role through its Nonprofit ENG(INE) initiative to help Mobile Pathways advance Pathfinder’s AI capabilities.

“We understand that AI is a powerful, yet complex tool—one that requires expertise, care, and thoughtful guidance to truly make an impact,” said Florencia Herra Vega, Partner at AlleyCorp and CEO of AlleyCorp Nord, its Montreal-based engineering arm. “Pathfinder represents what is possible when innovation meets purpose. We proudly support Mobile Pathways in scaling this transformative technology to empower underserved immigrant communities.”

Mobile Pathways’ growth as an impactful tech nonprofit will blaze new trails at the intersection of justice, technology, and AI.

“This milestone reflects the power of cross-sector collaboration,” said Jeffrey O’Brien, CEO of Mobile Pathways. “With these advancements, we aim to rewrite the narrative for millions of immigrants facing legal and employment challenges.”

About Mobile Pathways

Mobile Pathways was founded in 2018 by an award-winning immigration attorney, Jeffrey O’Brien, seasoned innovator Poesy Chen, and philanthropist Bartlomiej Jan Skorupa to further their vision of democratizing legal assistance to underserved immigrants. They build technology to connect immigrants with reliable legal and employment information via mobile technology and AI.

For more information, please visit pathfinder.mobilepathways.org.

CONTACT: Jessica Mann, [email protected]

SOURCE Mobile Pathways

Advancing Adoption through Enhanced Mass Production and Accelerated Product Launches

TOKYO, Feb. 6, 2025 — Cellid Inc., a developer of AR glasses displays and spatial recognition engines for next-generation devices, today announced that it has raised a total of USD 13 million (JPY 2 billion) through a private placement with Development Bank of Japan Inc. as the lead investor, and through a third-party allotment of new shares to funds managed or involved in the management of More Management Co., Ltd.; CVC fund jointly established by Kyocera Corporation and Global Brain Corporation; 15th Rock, Inc.; and FFG Venture Business Partners Co., Ltd. This latest financing brings Cellid’s total funding raised to date to approximately USD 33 million (JPY 5.2 billion).

Cellid’s core business is the development of displays for AR glasses and spatial recognition engines. In particular, Cellid boasts the industry’s most advanced technology in the development and design of the world’s largest, widest field of view and lightest weight waveguide, and has succeeded in developing the first full-color projection technology using plastic materials.

Last November, Cellid announced the release of “Reference Design” (verification model) -eyeglass-type AR glasses that employs the optical see-through waveguide display method. By adopting our original waveguide, we succeeded in creating a design that is no different from that of ordinary glasses and lightweight (approx. 58g), and compared to conventional head-mounted display-type glasses, the new glasses reduce eye fatigue even after long hours of daily use.

This financing will enable Cellid to strengthen the lineup of products and reference designs that are key components of AR glasses, such as micro projectors and waveguides, and promote the development of business areas that make use of reference designs. Cellid will also accelerate the market launch of their products by strengthening their mass production system.

Underwriters

• Development Bank of Japan Inc.
• More Management Co., Ltd.
• KVIF-I Limited Partnership（Limited partner: Kyocera Corporation; General partner: Global Brain Corporation）
• 15th Rock, Inc. 
• FFG Venture Business Partners Co., Ltd

Cellid CEO Satoshi Shiraga comments:

“We are honored that the Development Bank of Japan Inc. and other financial investors and partners have recognized Cellid’s business, which is centered on the development of displays for AR glasses and spatial recognition engines, as well as our growth potential. As AR glasses are increasingly attracting attention as a more accessible next-generation device, we are pursuing their evolution through the development of key components for AR glasses, such as waveguides and micro projectors. With this financing, we aim to accelerate the market launch of our products and contribute to the further adoption of AR glasses by acquiring top talent in Japan and abroad, while strengthening our technological development capabilities and expanding our mass production system.”

Investor Comments

Akira Nagai, Senior Vice President, Growth & Cross Border Investment Department, Development Bank of Japan Inc.

“AR glasses have been in the limelight in recent years as next-generation wearable devices, but innovation in lenses, a key component, is essential for their full-scale diffusion. In this context, we are highly impressed with Cellid’s world-class technology for waveguide lenses and the fact that it has established a supply chain through close collaboration with Japanese optical materials and semiconductor processing companies, which are highly competitive worldwide. DBJ feels that Cellid has the potential to become the de facto standard for waveguides and will do its utmost to support Cellid’s growth strategy in the future.”

Akihiro Matsuyama, Representative Director, More Management Co., Ltd. 

“We are pleased to announce that we have executed a follow-on investment in Cellid from our fund, whose lead investor is AXA Life Insurance Co. Ltd. We highly valued their advanced technologies related to AR and decided to invest for them to commercialize their products with global companies. We expect that their products will bring people’s relationship with computers closer and bring innovation to their lives. As a shareholder, we will actively support them.”

Shouichi Nakagawa, Executive Officer, Senior General Manager, Corporate R&D Group, Kyocera Corporation

“We are very pleased that KVIF-I has invested in Cellid. We are committed to cutting-edge research and development to fulfill our corporate Management Rationale, ‘contribute to the advancement of society and humankind’. AR and other XR technologies are building a new relationship between humans and computers. Glass waveguides and spatial recognition engines developed by Cellid are essential in our search for the next generation of key devices. We are committed to supporting Cellid as they take on the challenge of using their advanced technology to contribute to the advancement of society and humankind.”

Tetsu Nakajima, Founder/General Partner, 15th Rock, Inc.

“The AR glasses market continues to expand, with large companies expected to enter the market. Cellid, with its innovative manufacturing technology and knowledge, has huge potential for growth. 15th Rock, with a core focus on supporting innovations in Human Augmentation, will fully support Cellid’s mission by making the most of the knowledge and network it has cultivated to date.”

Miruto Ōhara, Investment Manager, Investment Department, FFG Venture Business Partners

“We are very pleased to invest in Cellid, a leading Japanese developer of AR glasses devices, which are rapidly gaining attention around the world, especially among big tech companies, as the next-generation device following smartphones. CEO Satoshi Shiraga and his management team have great potential to develop cutting-edge Japanese technology on a global scale. It is very exciting to imagine a near future in which Cellid’s products will be available in the market and in the hands of many people around the world. The entire Fukuoka Financial Group (FFG) is committed to supporting Cellid’s further growth and address of challenges.”

About Cellid
Cellid specializes in the development of advanced AR glass display modules, focusing on waveguides and spatial recognition engines for next-generation devices. Leveraging unique optical simulation and proprietary production technologies, Cellid has developed display modules as thin and lightweight as standard eyeglass lenses, delivering clear images and one of the world’s largest fields of view for waveguides. Additionally, Cellid offers industry-specific solutions powered by spatial recognition technologies such as Cellid SLAM. By integrating cutting-edge AR display hardware with real-world spatial recognition software, Cellid is driving the “Blending of Physical and Digital World,” making exceptional information tools more accessible, practical, and convenient for users worldwide

Media Inquiries: 

Michael Kornspan
[email protected] 

SOURCE Cellid Inc.

The funding will enable Piano to enhance its platform capabilities, expand its market presence, and support strategic initiatives aimed at driving growth and delivering innovative digital solutions to its clients

MENLO PARK, Calif., Feb. 6, 2025 — Runway Growth Capital LLC (“Runway”), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, today announced its role as the lead lender in a $75 million senior secured term loan facility that is part of a $120 million financing to Piano, a global leader in digital experience management, customer journey orchestration, and advanced analytics. The financing also includes a $45 million Series D investment led by Updata Partners, a Washington, D.C.-based growth equity firm focused on technology. This capital will enable Piano to optimize its platform, expand its market presence, and support strategic growth initiatives.

Founded in 2010, Piano offers an end-to-end platform that allows enterprises to more quickly identify, understand, and serve their customers. The Piano platform leverages unique data architectures that operate at massive scale and at orders of magnitude faster than competing solutions. This product helps global, national, and local brands and publishers achieve revenue growth while empowering teams to launch relevant audience experiences seamlessly, at scale, and with complete privacy-compliance.

With its US-headquarters in Philadelphia, PA and a presence in over 15 offices worldwide, including Amsterdam, Paris, Singapore, Berlin, Buenos Aires, New York, and Tokyo, Piano serves a diverse client base across six continents. Piano has been recognized as one of the fastest-growing, innovative technology companies by organizations such as Red Herring, the World Economic Forum, and Deloitte.

“Piano’s innovative approach to digital experience management and its market leadership position makes it an ideal partner for Runway,” said Jeff Goldrich, Managing Director at Runway. “We are excited to support Piano’s continued expansion and their commitment to delivering exceptional solutions to their clients.”

“This financing from Runway Growth Capital provides us with the resources to further enhance our platform and accelerate our growth strategy,” said Trevor Kaufman, CEO of Piano. “We appreciate Runway’s confidence in our vision and look forward to advancing our mission to empower businesses with the tools they need to understand and influence customer behavior.”

“The range of industries and business problems Piano is able to address with its technology is incredibly impressive,” added Ted Cavan, Managing Director at Runway Growth Capital. “The Piano team has built a truly industry-leading technology and we are thrilled to be a part of their continued success.”

About Runway Growth Capital LLC
Runway Growth Capital LLC is the investment adviser to investment funds, including Runway Growth Finance Corp. (Nasdaq: RWAY), a business development company, and other private funds, which are lenders of growth capital to companies seeking an alternative to raising equity. Led by industry veteran David Spreng, these funds provide senior term loans of a target of $30 million to $150 million to fast-growing companies based in the United States and Canada. For more information on Runway Growth Capital LLC and its platform, please visit www.runwaygrowth.com.

About Piano
Piano is a leading digital experience platform that empowers organizations to understand and influence customer behavior by putting the power of data and logic into the hands of their employees. Piano’s end-to-end platform leverages data, artificial intelligence, and commerce features to help brands and publishers achieve revenue growth while enabling teams to launch relevant audience experiences. With a global presence and a diverse client base, Piano has been recognized as one of the fastest-growing, innovative technology companies worldwide. For more information, visit www.piano.io.

Forward-Looking Statements
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition, or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Runway’s filings with the Securities and Exchange Commission. Runway undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

SOURCE Runway Growth Capital LLC