Applications now open for the 13th annual entrepreneurial contest to find the next winning brick-and-mortar small business

DETROIT, March 3, 2025 — TechTown Detroit and Comerica Bank announce the return of the Comerica Hatch Detroit Contest by TechTown, a small business competition that awards $100,000 in startup funding as well as support services to one entrepreneur seeking to open a brick-and-mortar storefront in Detroit, Hamtramck or Highland Park. The competition, first launched in 2011, bolsters small business development in Detroit and will take place over the next four months, with the winning business crowned in June.

Applications, available on HatchDetroit.com, open Monday, March 3, at noon and will close on Friday, April 4. Entrepreneurs with a retail concept looking to establish their first brick-and-mortar location in Detroit, Hamtramck or Highland Park are eligible to apply.

“Detroit’s small business community is built on the strength of its entrepreneurs, and TechTown is proud to support these business innovators through the Comerica Hatch Detroit Contest,” said Christianne Malone, Assistant Vice President for Economic Development at Wayne State University and Chief Program Officer of TechTown Detroit. “We strive to inspire and cultivate Detroit’s small business development through top-notch entrepreneurial resources, financial support, and valuable partnerships.”

Information sessions for interested applicants will be held the week of March 17.

The small business contest includes two rounds of public voting to determine the Top 10 and Top 4 entrepreneurs, allowing the community to vote for their favorite business.

The competition culminates June 11 with the annual Hatch Off, where the Top 4 entrepreneurs present their business plans to a panel of judges and a live audience. There, the winner will receive the $100,000 grand prize that also includes a business support package from TechTown Detroit, Wayne State University’s entrepreneurship hub.

Comerica Bank and Comerica Charitable Foundation Increase Support
As a proven launching pad for aspiring business owners, Comerica Bank and the Comerica Charitable Foundations are increasing their commitment to TechTown’s Hatch Detroit program to amplify the impact on Detroit’s small business economy.

Recognizing the cost of starting and sustaining a business has increased, and to further their commitment to ensuring the success of the Hatch Detroit program, Comerica Bank and the Comerica Charitable Foundation have increased their financial support to a combined total of $200,000 this year, a $50,000 increase from the previous three years.

“Comerica Bank was founded in Detroit more than 175 years ago, and we remain dedicated to supporting the city’s entrepreneurship and the development of small businesses that make up the lifeblood of this community,” said Meghan Storey, Comerica Bank Senior Vice President and Michigan Director of Small Business Banking.

In addition to its financial commitment, Comerica works alongside TechTown to provide in-kind support, such as technical services for contestants, during the contest.

Since 2019, Comerica Bank has provided the $100,000 grand prize for the Comerica Hatch Detroit Contest by TechTown winner and will do so again this year. This year, Comerica Bank will also be contributing an additional $50,000, in tandem with a $50,000 grant from the Comerica Charitable Foundation, to TechTown for organizational support of the Hatch Detroit program to assist with its ongoing incubation of small businesses.

“Working closely with small businesses, we see extraordinary entrepreneurs rich in ideas and passion who have dedicated their lives to launching and growing a business but remain in need of resources and mentorship. Year after year, TechTown and Hatch Detroit has provided a platform of extensive technical services and guidance needed to help entrepreneurs succeed, creating a strong foundation for Detroit’s small business ecosystem,” said Storey.

Including this year’s contributions and grants, Comerica Bank and the Comerica Charitable Foundation have collectively committed over $1.3 million into Hatch Detroit since first supporting the small business program in 2012.

TechTown’s Commitment to Small Businesses and Hatch Detroit
Last year, TechTown celebrated 20 years serving Detroit as a vital incubator for small businesses and entrepreneurs, dedicated to revitalizing the city through sustainable growth by supporting tech startups and small businesses.

In 2022, Hatch Detroit was integrated into TechTown’s suite of entrepreneurial programs and services.

Adding Hatch Detroit to its small business platform strengthened one of the city’s most popular and successful entrepreneurial programs designed to transform neighborhoods through new brick-and-mortar retail shops.

Since then, Hatch Detroit alumni have opened their brick-and-mortar locations in five different neighborhoods, including: Craig’s Coffee (Midtown), JP Makes and Bakes (New Center), K Walker Initiative (Midtown), Lily’s & Elise (Livernois Avenue of Fashion), Next Chapter Books (East Indian Village), Shell Shock’d Tacos (Midtown), and Sepia Coffee Project (Highland Park).

The Comerica Hatch Detroit Contest by TechTown has helped create some of Detroit’s most successful and well-known businesses, including winners G.L.A.M. Body Scrubs (2024), Bouncing Around The Motor City (2023), Little Liberia (2022), 27th Letter Books (2019), Baobab Fare (2017), Meta Physica Massage (2016), Sister Pie (2014), Batch Brewery Company (2013) and La Feria (2012).

Under TechTown’s services and support, Bouncing Around the Motor City, Little Liberia and G.L.A.M. Body Scrubs are scheduled to open in 2025, along with Hatch Detroit alum Ice Cream Detroit.

In 2024, Tiffany Cartwright, founder and owner of G.L.A.M. Body Scrubs, won the Comerica Hatch Detroit Contest by TechTown . G.L.A.M. is a certified woman- and minority-owned business based in Detroit that specializes in natural, organic body scrubs. It provides jobs, training and mentorship to underserved individuals, especially women who have been victims of domestic violence and human trafficking, as well as returning citizens.

Together, Hatch Detroit alumni have opened more than 50 businesses, employ more than 500 people and have invested more than $7 million in their businesses.

KEY COMERICA HATCH DETROIT CONTEST DATES:

March 3: Applications open at noon
Week of March 17: Information sessions take place
April 4: Applications close
April 14: Top 25 contestants notified
May 15: Top 10 contestants revealed
May 16-23: Top 10 public voting takes place
May 27: Top 4 announced
June 2-11: Top 4 public voting takes place
June 11: Winner announced at Hatch Off

Comerica Bank, a subsidiary of Comerica Incorporated, has served Michigan longer than any other bank with a continuous presence dating back more than 175 years to its Detroit founding in 1849. It is the largest bank employer in metro Detroit and has more than 4,300 employees (FTE) statewide. With one of the largest banking center networks in Michigan, Comerica nurtures lifelong relationships with unwavering integrity and financial prudence. Comerica positively impacts the lives of Michigan residents by helping customers be successful, providing financial support that assists hundreds of charitable organizations, and actively participating in Detroit’s downtown revitalization. Comerica Incorporated (NYSE: CMA) is a financial services company strategically aligned by three business segments: The Commercial Bank, The Retail Bank, and Wealth Management. Follow on Facebook: www.facebook.com/Comerica, X: @ComericaBank and Instagram: @comerica_bank.

TechTown Detroit, Wayne State University’s entrepreneurship hub, is a nonprofit business service organization that provides programs, education and resources for early- to growth-stage small businesses and tech entrepreneurs. By building bridges for entrepreneurs to succeed, TechTown is accelerating an inclusive economy for Detroit and Southeast Michigan. Since 2007, TechTown has supported more than 6,090 companies, which created 2,277 jobs and raised more than $406 million in startup and growth capital. For more information, visit techtowndetroit.org.

Hatch Detroit supports both existing and new retail initiatives in the cities of Detroit, Hamtramck and Highland Park. Hatch Detroit was founded in 2011 to give residents and aspiring entrepreneurs an opportunity to have a voice in neighborhood retail development and joined TechTown Detroit’s suite of entrepreneurial programs and services in 2022. Beyond the contest, Hatch Detroit provides funding, exposure and mentoring in support of its alumni entrepreneurs. With support from Hatch Detroit, 50 alumni have opened businesses. They employ over 500 people and have invested over $10 million in economic development. To learn more, visit hatchdetroit.com.

SOURCE Comerica Bank

Funds from Union Square Ventures and European investment group Neurone — with the families behind iconic brands such as Ferrari as co-investors — will power Viam’s global growth across enterprise sectors

NEW YORK, March 3, 2025 — Viam, the engineering platform for data, AI and automation, today announced $30 million in Series C funding, led by existing investor Union Square Ventures with participation from Battery Ventures, Neurone, and other existing investors. Viam has raised a total of $117 million to date.

“We’re fortunate to have incredible partners like Union Square Ventures who are eager to expand their commitment to what we’re building,” said Eliot Horowitz, Founder and CEO of Viam. “At the same time, we’re excited to collaborate with Neurone to advance our global ambitions and further the momentum we’re already seeing in Italy and in Europe more broadly. We hit important milestones last year and this raise will help us continue to achieve our goals.”

In 2024, Viam expanded its customer base across industries such as robotics, quick-service restaurants, climate tech, marine, and industrial manufacturing. This past October, the company announced a groundbreaking partnership with the New York Islanders and UBS Arena, becoming the venue’s Official AI Technology Partner. Viam’s software is being integrated across multiple facets of the arena’s fan experience. In the marine space, Viam has partnered with leading manufacturers like Viking Yachts and has launched a pilot program with global technology provider Kongsberg Discovery, part of KONGSBERG Group, pioneering the use of AI for sonars in fishing. Other customers include Sbarro, Swiss nuclear engineering company Transmutex, autonomous robotic kitchen company Appetronix, and intelligent workplace safety platform CompScience.

“Viam is bridging the critical gap between AI, data, and the countless devices we interact with every day,” said Albert Wenger, Partner at Union Square Ventures. “Eliot and his team are building a world-class operation in New York City, and we’re thrilled to continue supporting them.”

European investment group Neurone also joined the round, alongside existing investors. Viam has already seen significant traction in Europe, partnering with leading manufacturers and marine technology companies. Neurone’s co-investors include the family offices of Italian industrial leaders like Camozzi (Camozzi Group), Enzo Mattioli Ferrari (Ferrari and HPE), Pasubio founder Luca Pretto and Wellness Holding (Alessandri Family). Neurone will help Viam continue to scale and reach potential partners in the region, particularly within Italy’s industrial sector.

“We work directly with Italy’s leading industrial families who are actively thinking about what the future holds for the sector and the technology that shapes it,” said Teodoro D’Ambrosio, Founder and Partner of Neurone. “Hardware sectors serving the physical world are still missing that software-driven inflection point that fueled exponential growth in other domains, like Android in mobile. Viam is building that missing layer, and we’re excited to partner with Eliot and the team on that vision.”

Viam’s platform allows hardware and software engineers to collaborate and build technology solutions that can be implemented across devices and smart machines in the physical world. The company was launched in 2020 by Eliot Horowitz, former co-founder and CTO of publicly-traded database giant MongoDB. Viam previously closed a Series B funding round in March 2024.

About Viam
Viam helps companies unlock the power of AI, data and automation in the physical world. We provide a single platform for engineers of all disciplines to solve problems together and build solutions that are fast and future-proof. Viam powers solutions across robotics, food and beverage, climate tech, marine, industrial manufacturing, and more. Founded in 2020 by former MongoDB co-founder and CTO Eliot Horowitz, Viam is headquartered in New York City. viam.com

About Union Square Ventures
Union Square Ventures is a small, collegial partnership based in New York City. We are generalist investors, working across many sectors and technologies, but with a consistent point of view on how to approach transformative opportunities. usv.com

About Neurone
Neurone is a technology-focused investment group active in company building and direct investments in high-growth ventures. Founded in 2019, Neurone’s team combines entrepreneurial expertise, operational support, and deep technology sector knowledge to help companies scale. With a rigorous, thesis-driven investment approach, Neurone’s approach spans incubation and growth venture investing. Neurone’s portfolio is spread across insuretech, automation, climate, automotive and more, both in Europe and in the U.S. neurone.com

Media Contacts:

Christopher Farrell
Beginners
[email protected]

SOURCE Viam, Inc.

• Frazier Life Sciences launches Callio Therapeutics based on multi-payload antibody-drug conjugate technology and programs exclusively in-licensed from Singapore-based Hummingbird Bioscience
• Financing led by Frazier Life Sciences with significant participation from Jeito Capital alongside other life sciences investors including Novo Holdings A/S, Omega Funds, ClavystBio, Platanus, Norwest, Pureos Bioventures, SEEDS Capital and EDBI
• Company to advance innovative multi-payload programs designed to maximize therapeutic benefit for cancer patients by overcoming limitations of existing single-payload therapies

SEATTLE and SINGAPORE, March 3, 2025 — Callio Therapeutics, a biotechnology company focused on realizing the promise of multi-payload antibody-drug conjugates (ADCs) to improve cancer therapy, today announced its launch with the closing of a $187.0 million Series A financing round. This financing was led by Frazier Life Sciences with significant participation from Jeito Capital alongside other life sciences investors, including Novo Holdings A/S, Omega Funds, ClavystBio, Platanus, Norwest, Pureos Bioventures, SEEDS Capital and EDBI. The newly formed company, with headquarters in Seattle and Singapore, intends to use the proceeds from the Series A financing to achieve clinical proof-of-concept for its HER2-targeted dual-payload ADC and a second undisclosed ADC program.

In conjunction with the financing, Callio Therapeutics has entered into an exclusive worldwide license agreement with Hummingbird Bioscience for its multi-payload ADC platform in oncology, and associated intellectual property and pipeline assets, in exchange for equity, potential milestone payments and royalties.

“We are delighted to be launching Callio Therapeutics with the support of Frazier Life Sciences and this syndicate of investors. Multi-payload ADCs have the potential to enable the targeted delivery of rational drug combinations to cancer cells, and may provide significantly enhanced efficacy,” said Piers Ingram, PhD, co-founder and Chief Executive Officer of Callio Therapeutics. “This new generation of ADC therapies may meaningfully improve outcomes for patients.”  

Leadership Team

The founding Callio Therapeutics management team comprises individuals with extensive experience from leading biotechnology and biopharmaceutical companies including ProfoundBio, Silverback Therapeutics, SeaGen, Medarex, Hummingbird Bioscience and Genentech:

• Piers Ingram, PhD, Chief Executive Officer
• Jerome Boyd-Kirkup, PhD, Chief Scientific Officer
• Naomi Hunder, MD, Chief Medical Officer
• Angèle Maki, PhD, Chief Business Officer

“The multi-payload ADCs being developed at Callio Therapeutics have the potential to address large unmet medical needs by overcoming many of the limitations of existing ADCs,” said Adam Simpson, Executive Board Chair of Callio Therapeutics and Venture Partner at Frazier Life Sciences. “With the expertise of the Callio Therapeutics team, together with access to the innovative multi-payload ADC technology, we believe that Callio Therapeutics will be the first company to show the clinical benefit of this exciting new multi-payload ADC approach and is well positioned to transform cancer therapy.”

About Callio Therapeutics
Headquartered in Seattle and Singapore, Callio Therapeutics is focused on realizing the promise of multi-payload antibody-drug conjugates to transform cancer patient outcomes. The company is developing next-generation, multi-payload antibody-drug conjugates (ADCs) that feature differentiated payload and linker technologies that enable targeted delivery of multi agents to tumor cells to maximize therapeutic benefit. Callio Therapeutics’ lead program is a HER2-targeted dual-payload ADC. Callio Therapeutics was created by Frazier Life Sciences, a longstanding investment firm focused on innovative therapeutics, based on ADC technology and programs exclusively in-licensed from Hummingbird Bioscience. For more information, please visit www.calliotx.com and follow Callio Therapeutics on LinkedIn.

About Frazier Life Sciences
Frazier Life Sciences invests globally in private and publicly traded companies that discover, develop, and commercialize innovative biopharmaceuticals. Frazier Life Sciences manages over $3.9 billion in capital, including Venture Funds focusing on company creation and private companies and the long-only Public Fund focused on small and mid-cap public companies. Since 2005, over 60 Frazier Life Sciences portfolio companies, many of which were created or seeded by Frazier Life Sciences, have completed IPOs or M&As. The Frazier Life Sciences team consists of over 40 professionals with deep expertise in biopharmaceuticals, primarily located in Palo Alto, Calif. (headquarters), San Diego, Seattle, Boston, New York and London. For more information about Frazier Life Sciences, please visit frazierls.com and follow on LinkedIn.

About Hummingbird Bioscience
Hummingbird Bioscience is a Singapore-based biotherapeutics company working at the interface of artificial intelligence and human innovation to discover and develop transformative medicines for hard-to-treat diseases. Hummingbird Bioscience’s computational and systems biology technologies have generated a pipeline of innovative clinical-stage monoclonal antibodies and antibody-drug conjugates in oncology and autoimmunity.  At Hummingbird Bioscience, the commitment to rigorous science, teamwork, and intellectual integrity underpins our passion to accelerate the journey of new drugs from concept to clinic. For more information, please visit www.hummingbirdbioscience.com, and follow Hummingbird Bioscience on LinkedIn, X (formerly Twitter), and YouTube.

SOURCE Callio Therapeutics

Canaan Partners Leads Seed Round in HeyMilo’s AI-Driven Platform to Shape Future of Recruiting

NEW YORK, March 3, 2025 — HeyMilo, an AI-powered candidate screening platform, today announced $2.2 million in seed funding. The round, led by Canaan Partners, underscores the growing demand for innovative technologies that streamline recruitment and unlock efficiencies in talent acquisition. Additional participation came from Alumni Ventures and Entrepreneurs Roundtable Accelerator, reflecting broad confidence in HeyMilo’s potential to reshape the future of hiring.

HeyMilo’s AI agents automate the initial interview screening process, enabling companies to efficiently evaluate candidates without sacrificing quality or precision. The platform’s ability to autonomously conduct tailored interviews, ask insightful follow-up questions, and deliver actionable analyses empowers hiring teams to identify the best talent faster, at scale, and at a fraction of the cost.

“Great companies are built on great people, but the hiring process hasn’t kept up with the speed of modern business. HeyMilo is changing that. By bringing AI-powered agents into recruiting, they’re making it possible to connect with more candidates, faster, without sacrificing quality, fairness, or the personal touch,” said Rayfe Gaspar-Asaoka, partner at Canaan Partners. This isn’t just about efficiency – it’s about unlocking opportunities for companies and job seekers alike. We believe HeyMilo is reshaping the future of work, and we’re thrilled to be part of the journey.”

The recruitment technology market is vast, with HeyMilo addressing a significant gap in the early hiring stages. Due to time and resource constraints, traditional recruiter-led screenings often result in overlooked talent. HeyMilo ensures companies can assess a broader range of candidates, particularly for high-volume roles.

At the heart of HeyMilo’s platform lies a comprehensive approach to address critical pain points in the recruitment process:

1. AI Agent Builder: HeyMilo reads job descriptions from a company’s applicant tracking system (ATS) and generates more comprehensive interviews through various engagement channels, including voice, video, phone, and SMS, which are further configurable based on a company’s screening and vetting needs of candidates.
2. AI Agent Interviewer: The AI Agent screens candidates using a set of “knockout” questions across various channels. Then, they conduct an adaptive voice or video interview to assess their skills and fit for a role.
3. Interview Analysis: The platform transcribes and scores interview responses, providing actionable insights that allow hiring managers to make data-driven decisions without leaving their ATS of choice.

“HeyMilo allows staffing and recruiting agencies, BPOs, and other high-volume hiring organizations to scale their recruitment team infinitely. They can view HeyMilo as their candidate interview orchestrator, effectively identifying top candidates in hours, not weeks. We’ve seen AI agents take over the market in various industries like call centers and within sales organizations, and we’re ushering that adoption to recruitment. And while some may argue this takes away from the candidate experience, we’re seeing extremely high candidate CSAT scores and candidates consistently remarketing how they enjoy being able to go beyond their resume,” said Sabashan Ragavan, co-founder and CEO of HeyMilo

Recent advancements in large language models (LLMs) and related AI technologies have made HeyMilo’s solution possible and exceptionally effective. The costs of enabling technologies like speech-to-text, generative audio, and cloud computing have dropped significantly, making HeyMilo’s platform highly scalable and accessible.

“We’re a team of ten recruiters, but with HeyMilo, we can work as if we’re a team of 30. As soon as candidates apply, they can start the process immediately, and we can start evaluating their language and skills immediately. You no longer have to wait for a recruiter to be available to call and start the process with a candidate,” said Laura Pacheco, head of recruiting at BPO Labs.

HeyMilo was co-founded by Sabashan Ragavan and Ramie Raufdeen, seasoned entrepreneurs with deep technology and product development expertise. Before HeyMilo, the duo co-founded a startup focused on job referral systems and held leadership roles at major technology companies, including Instagram, Microsoft, and Salesforce.

Since its inception, HeyMilo has partnered with a range of customers to refine its product and validate its value proposition. Early adopters include staffing agencies, BPOs, and companies that lack a traditional recruitment team, such as BPO Labs and Alpine Home Air, which have increased candidate placements while reducing costs.

“As a one-person HR department, speed to getting back to candidates and going through and vetting candidates was a significant challenge, with some roles having up to 3,000 candidates apply in just a few days. Using tools like HeyMilo, I can offer a great candidate experience and respond to them quickly. I also have a great experience since I can quickly vet candidates beyond just their resume,” said Wendy Sergot, head of HR at Alpine Home Air.

The seed funding will accelerate product development, expand the team, and scale customer acquisition efforts. With a clear path to product-market fit and a growing roster of satisfied customers, HeyMilo is poised to transform how companies screen, interview, and evaluate candidates at scale.

About HeyMilo

HeyMilo is a venture-backed company revolutionizing recruitment with generative AI-powered agents that enable organizations to screen, interview, and evaluate candidates at scale through an omnichannel approach. Founded in 2023 and supported by Canaan Partners, Alumni Ventures, and Entrepreneurs Roundtable Accelerator, HeyMilo leverages cutting-edge advancements in large language models to help companies find the best talent faster, smarter, and more inclusively. With seamless ATS integration, intelligent follow-up capabilities, and comprehensive data insights, HeyMilo helps staffing agencies, BPOs, and more scale their recruitment teams efficiently. For more information, please visit https://www.heymilo.ai.

Media Contact
[email protected]

SOURCE HeyMilo

Representatives from Crown Wealth LLC praised the Vitasense team for their remarkable dedication, innovation, and business acumen. “Max Kopp and his team at Vitasense have demonstrated an extraordinary level of commitment and ingenuity in bringing this revolutionary technology to life. Their ability to navigate complex research, secure industry partnerships, and lead negotiations at such a young age is truly inspiring,” said a Crown Wealth spokesperson. “We believe in their vision and are proud to support them as they push forward in the development of this essential healthcare technology.”

The investment from Crown Wealth, in partnership with KB Global, will provide Vitasense with the necessary resources to refine its third-generation prototype, enhance regulatory compliance efforts, and prepare for large-scale clinical testing. The company has worked closely with leading biomedical engineers and healthcare professionals to ensure the device’s efficacy and usability for diabetic patients worldwide.

In addition to securing funding, the Vitasense team continues to collaborate with top researchers and industry leaders to bring their technology to market. With a focus on affordability and accessibility, the company is committed to ensuring that its wearable glucose monitoring solution can make a meaningful impact on millions of lives.

“Crown Wealth’s investment in Vitasense reflects our commitment to supporting innovative solutions that address pressing global health challenges,” the spokesperson continued. “We see tremendous potential in this young, driven team and are excited to see how their work will contribute to the future of diabetes management.”

With backing from Crown Wealth, KB Global, and top research institutions, Vitasense is poised to advance its technology to the next level. The company has already received national recognition, earning accolades in prestigious science and innovation competitions, including Third Place in Engineering at the National Junior Science and Humanities Symposium (JSHS), Bronze Medal in Physics in the North America at the S.T. Yao Science North America Competition.

For more information about Vitasense, visit www.thevitasense.com.

SOURCE Crown Wealth LLC

STOCKHOLM, March 3, 2025 — Echandia, the leading Swedish maritime battery system supplier, has closed a new funding round at SEK 220 million, a very important milestone for the company. The funding round was led by Alantra’s energy transition fund Klima, headquartered in Spain, together with Swedish venture capital fund Industrifonden, with additional investments from Swedish SEB Greentech VC and Japanese venture capital firm EEI. The capital raised will be invested in Echandia’s global expansion and production capabilities in Sweden and US. Expansion investments in the US market include the recently announced new production facility in Washington State where Echandia will produce its advanced maritime battery system.

The new capital enables Echandia to scale up its operations faster and handle larger projects to meet increasing demand for its maritime battery solutions.

Shipping contributes 3% of global CO₂ emissions, making it a key climate challenge. Echandia’s solution stands out by meeting the strict demands of sectors like ferries and navy.

Echandia has since 2018 developed cutting-edge battery systems for maritime transportation, shipping, and other heavy-duty applications where safety and resilience are critical. Today, Echandia partners with the world’s leading shipyards and system integrators to equip both newbuild and retrofit vessels with advanced battery solutions, enabling hybridization, full-electric propulsion, and improved energy efficiency for large electrification projects all over the world.

Torbjörn Bäck, CEO of Echandia, comments:

“Echandia is at the forefront of maritime electrification globally, helping customers reduce emissions with clear customer values such as safe, resilient and long-lasting maritime battery systems. We are proud to have closed this large funding round with well-known investors, marking a major milestone for us. Our revenues grew fourfold in 2024 compared to 2023, and with our current sales pipeline, we expect our revenues to triple in 2025. We look forward to continuing Echandia’s scale-up and expansion with our new, highly experienced investors on board.”

Manuel Alamillo, Partner at Klima, comments:

“Decarbonizing hard-to-abate sectors like shipping, aviation, and heavy industry is critical to achieving our global climate goals. These sectors represent a significant portion of global emissions, accounting for about 30% of global GHG emissions and lack readily available solutions. Investing in these sectors isn’t just an environmental imperative, it’s an economic one. By investing in and supporting Echandia’s energy storage solutions, we are excited to accelerate decarbonization of the maritime sector.”

Anna Ljungdahl, Head of Sustainable Investments and Senior Investment Director at Industrifonden, comments:

“Echandia is at the forefront of innovation, meeting the demanding requirements of sectors like military and defense, making its solution truly remarkable. We look forward to commercializing the product globally alongside the team and a strong international investor base, providing financial stability and industry expertise.”

About Echandia

Echandia is challenging the maritime industry with safer electrification. Since its founding in 2018, Echandia has rapidly become a global leader in maritime battery systems, delivering nearly 70 systems for electrification projects worldwide. Our systems are tailored to optimize energy efficiency and reduce environmental impact, supporting the maritime industry’s transition towards sustainable operations. Based in Stockholm, we serve customers across the globe. Learn more at www.echandia.com.

About Alantra/Klima

Alantra’s energy transition fund, Klima, is a 210M€ late-stage venture fund supporting energy-tech companies in their early-growth phase. Klima intends to back breakthrough innovations accelerating the energy transition and slowing down the pace of climate change. Alongside Enagas and Alantra, as cornerstone investors, Klima is backed by relevant investors such as the European Investment Fund, Axis ICO and CPPI. 

About Industrifonden

Industrifonden is Sweden’s Venture Capital Fund looking for unique, scalable innovation that has a meaningful impact on our society. Industrifonden manages more than SEK 5 billion and invests in early-stage companies, from seed to A-round funding with a reach across the Nordics. The investment focus includes specialized technologies and businesses within Deep Tech, Life Science and Transformative Tech. Industrifonden has an evergreen structure which allows a long-term focus on value creation.

About SEB Greentech VC

SEB Greentech Venture Capital invests in green technology. We focus on ideas that promise substantial impact in reducing greenhouse gas emissions or in preventing transgression of the planetary boundaries.  We do that by investing in solutions in sectors ranging from renewable energy, water and agricultural, circular business models to waste management. SEB Greentech Venture Capital started in 2020. Echandia will be the funds 11th investment.  
SEB Greentech VC is part of SEB. www.sebgroup.com.

About EEI

Energy & Environment Investment, Inc. (“EEI”) was established in 2006 as the only venture capital firm focusing on the environment and energy sectors in Japan. Since its establishment, EEI has been actively investing and supporting the business growth of start-ups in the environment and energy-related services and technologies sectors. EEI contributes to innovation and business creation in the environment and energy sectors and promotes the success of start-ups that will have significant global impact toward the realisation of a sustainable economy, environment and society.

For more information please contact:
Johan Winlund, Marketing & Communication Manager at Echandia
+46 76 117 55 41
[email protected] 

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

https://news.cision.com/echandia-group/r/echandia-secures-sek-220-million-in-new-financing-round—scaling-up-operations-to-meet-rapidly-incr,c4113206

SOURCE Echandia Group

Industry-Leading Investment Firms To Validate and Support Decentralization of Acki Nacki Blockchain

SOFIA, Bulgaria, March 3, 2025 — GOSH, the core developer behind Acki Nacki, today announced the successful completion of its pre-launch Node Sale, securing backing from validators including Kingsway Capital, Blockchain.com, Hack VC, K5 Global, and Original Capital. As a result of the network’s recently launched decentralized starter protocol, Gossip Ignite, the Acki Nacki mainnet will go live once a critical mass of node operators are active.

Acki Nacki is an asynchronous blockchain protocol that reaches probabilistic consensus in two communication steps. At the heart of GOSH’s vision in supporting Acki Nacki is solving blockchain’s most fundamental technical challenge: transaction speed, scalability and time to finality.

“The network’s Node Owners all share the Acki Nacki vision from beginning to end,” said Mitja Goroshevsky, GOSH founder and Acki Nacki architect, leading the team who spent the 4 years prior building the technology stack for TON blockchain. “The values behind the tokenomics, how we see decentralization, as well as technology, adoption, and how we go to market, are supported thoroughly by all network participants. This level of collaboration defines the future of the decentralized world.”

With a community of over 5 million users in testnet, Acki Nacki is primed to support use cases that include payments, gaming economies, IoT networks, and AI applications. The early ecosystem already includes Popits, an on-chain content-sharing platform, and Die Last, a Web3 real-time strategy game running entirely on-chain.

A diverse group of aligned validators and Acki Nacki’s approach ensures the network emerges organically — owned and secured by its decentralized community from the first block. There is no pre-mine, airdrop, token generation event, investor or team allocation. Beyond its technical advancements, Acki Nacki introduces a radically decentralized economic model. Node Licenses allow owners to validate transactions and mine $NACKL tokens which guarantees decentralization regardless of network state. All $NACKL are distributed as block rewards through a 60-year mining schedule following a deflationary curve.

Validator Quotes

Alexander Pack, Managing Partner at Hack VC commented “Acki Nacki with its innovative consensus aims to have sub-second finality for transactions. This allows new applications to move on-chain and open up the design space.”

Peter Smith, CEO and Cofounder of Blockchain.com commented “We were impressed to see that Acki Nacki has generated a loyal community of developers, followers, infrastructure providers and now investors. We’re excited to play a part in this journey”.

Ramnik Arora, partner at Original Capital said “One of the constraints to more things moving on-chain is the lack of general purpose block space with high throughput and low finality. We’re happy to back Mitja and the Acki Nacki team – early pioneers in asynchronous blockchain design space and aiming to be the fastest blockchain possible.”

“The network’s ‘Bitcoin for Proof of Stake’ design and a 60-years mining schedule means that we view Acki Nacki to be a permanent fixture in global coordination and property rights, similar to Bitcoin and Ethereum.” says Kingsway Capital.

About Acki Nacki
Acki Nacki is the fastest blockchain possible. Based on a breakthrough consensus protocol, the Acki Nacki network reaches consensus in 2 communication steps, the lowest number possible in any interactive network, meaning that by design Acki Nacki finalizes transactions faster than any other blockchain that can be built.

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SOURCE GOSH

SHANGHAI, March 2, 2025 — Pulnovo Medical, a globally recognized pioneer in medical devices for pulmonary hypertension (PH) and heart failure (HF), has announced the closing of nearly $100 million Series C financing. This round was co-led by Qiming Venture Partners and existing shareholder Lilly Asia Ventures, with existing investors OrbiMed and Gaorong Capital participating on a super pro-rata basis. The proceeds will be used to advance Pulnovo Medical’s global clinical trials, international business expansion and strategic initiatives.

The financing round was oversubscribed by two times, marking one of the largest fundraises in the Asia-Pacific innovative medical device sector in recent years. This reflects leading institutions’ confidence in Pulnovo Medical’s global strategy and technical capabilities.

Founded in 2013, Pulnovo Medical is a pioneering medtech company recognized in international guidelines. The company leverages its extensive clinical expertise to drive scientific advancements and global commercialization. The company focuses on developing superior therapeutic solutions for various stages of HF to enhance patient outcomes.

Pulnovo Medical’s core product, PADN (Pulmonary Artery Denervation) technology, is an innovative and effective minimally invasive treatment for PH that has successfully obtained market approval.PH is a condition that can lead to heart failure and mortality, with limited treatment options. PADN uses radiofrequency ablation to target the pulmonary vascular endothelial sympathetic nerve, effectively reducing pulmonary artery pressure and slowing disease progression.

PADN received FDA Breakthrough Device designation for Group I, Group II, and Group IV PH in 2021. PADN was included in European Society of Cardiology and European Respiratory Society Guidelines in 2022. In 2023, Pulnovo Medical achieved the Humanitarian Use Exemption Device designation for Group I PH. The RF catheter and RF generator received market approval in China in late 2023, becoming a commercially available interventional device in the field globally. In 2024, Pulnovo Medical’s accessory product, the 9F sheath, received FDA clearance.

Cynthia Chen, Chairlady, Executive Chairwoman and President of Pulnovo Medical, announced that the proceeds of this round will support two upcoming FDA trials for Group I PH and Group II PH (chronic heart failure combined with PH) planned this year. Under the leadership of the executive team, the company has transformed from a laboratory to a globally structured firm with offices in the US, Singapore, as well as Hong Kong SAR and four cities in Chinese Mainland, including Beijing and Shanghai.

William Hu, Managing Partner of Qiming Venture Partners, said, “Pulnovo Medical’s breakthroughs in interventional treatments for PH and HF are impressive. The company’s PADN technology is now commercially available in Chinese Mainland, Hong Kong, and Macau, and in 2024, global multicenter trials were initiated in Portugal, Serbia, Georgia, and Southeast Asia. Following the FDA Breakthrough Device designation, the global clinical trials further validate the technology’s leadership and clinical value. As a long-term healthcare investor, Qiming is committed to supporting innovators with global visions. We are confident in Pulnovo Medical’s potential and will support its international expansion and commercialization, bringing new hope to patients worldwide.”

SOURCE Pulnovo Medical