LONDON, April 30, 2025 — Cocoon Capital, one of Southeast Asia’s top-performing early-stage venture capital firms, announces the first close of its third fund, securing USD 30 million towards a USD 50 million target. Fund III continues Cocoon’s strategy of investing in high-conviction early-stage, enterprise and deep tech startups in overlooked but critical sectors across Southeast Asia.

Cocoon’s hands-on, founder-first approach aims to build not the largest portfolio, but the most resilient and transformational. The fund will target 20 pre-seed and seed-stage investments, with ~55% of capital reserved for follow-ons to sustain support for its strongest companies.

“We’re not chasing buzzwords,” said Michael Blakey, Managing Partner at Cocoon Capital. “We back founders solving hard, often unsexy problems, whether it’s modernising manufacturing, healthcare, or financial infrastructure.”

Proven Track Record, Disciplined Strategy

In a region where investor returns are hard to come by, Cocoon Capital’s performance stands out. Fund I and Fund II are actively returning capital to investors and achieving leading Distributed to Paid-In Capital (DPI) in the region. According to data insights firm Alternatives.pe, the second fund ranks among the top three performing VC funds in Southeast Asia by Internal Rate of Return (IRR). Cocoon’s track record of achieving DPI across all of its funds, clearly demonstrates its winning strategy of building businesses from Southeast Asia and exiting them globally.

Deep Engagement at Every Stage

Cocoon leads every seed round, takes a board seat, and applies a 10-step due diligence framework covering governance, technical depth, and founder aptitude. Post-investment, founders gain access to Cocoon Academy—a platform offering governance playbooks, financial fundamentals, coaching, and a curated network of domain experts and follow-on investors.

With a target of only five investments per year, the team is deeply engaged with each portfolio company, providing not just capital, but true partnership and support.

Focused on Industrial Transformation

“The digital transformation of Southeast Asia’s traditional industries is still in its infancy,” said Carol Cheung, Partner at Cocoon. “We’re backing founders modernising sectors underserved by innovation—those solving long-term challenges that require long-term capital and commitment.”

Portfolio companies reflect this vision. Aprisium enables micron-level industrial contamination detection. Augmentus, a no-code robotics platform, is used by global manufacturers. Others include BuyMed (Vietnam’s leading B2B pharmaceutical distributor), TransTRACK (fleet optimisation), and Shomvob (Bangladesh-based job-tech platform with embedded fintech).

“These are not regional plays—they’re solving universal challenges, with Southeast Asia as their launchpad to global markets,” added Zongxi Sia, Investment Director.

Strong LP Support and Global Backing

Fund III’s first close includes a strong base of returning limited partners (LPs)—many increasing commitments—and new backers from Asia, Europe, and North America, including institutional investors, successful founders, and family offices.

“In today’s environment, finding a fund like Cocoon is rare,” said Gregoire Baudin, a returning LP. “Their focus on deeply technical, transformational companies and their proven ability to achieve exits made it an easy decision to continue supporting them.”

Building Companies That Matter

“We’re not just delivering returns,” added Blakey. “We’re helping build companies that survive downturns, redefine industries, and put Southeast Asia on the global innovation map.”

Cocoon Capital Fund III remains open to new commitments, with a final close targeting USD 50 million.

About Cocoon Capital®
Cocoon Capital® is a Singapore-based VC investing in early-stage enterprise software and deep tech startups across Southeast Asia. Founded in 2016, Cocoon has over USD 90 million assets under management. With its “Dare to Change™” ethos, Cocoon leads early and works hands-on with founders. www.cocooncap.com

Media Contact
[email protected] 

Photo – https://mma.prnewswire.com/media/2676652/Copy_of_SYR55953___Group.jpg
Logo – https://mma.prnewswire.com/media/2676452/Cocoon_Capital_Logo.jpg

Business Highlights

• First quarter of 2025 sales decreased 13% Q/Q and decreased 12% Y/Y
  • SSD controller sales: 1Q of 2025 decreased 10% to 15% Q/Q and decreased 20% to 25% Y/Y
  • eMMC+UFS controller sales: 1Q of 2025 decreased 15% to 20% Q/Q and decreased 0% to 5% Y/Y 
  • SSD solutions sales: 1Q of 2025 decreased 20% to 25% Q/Q and decreased 35% to 40% Y/Y
• Announced new $50 million share repurchase program

Financial Highlights

* Please see supplemental reconciliations of U.S. Generally Accepted Accounting Principles (“GAAP”) to all non-GAAP financial measures mentioned herein towards the end of this news release.

TAIPEI and MILPITAS, Calif., April 30, 2025 — Silicon Motion Technology Corporation (NasdaqGS: SIMO) (“Silicon Motion,” the “Company” or “we”) today announced its financial results for the quarter ended March 31, 2025. For the first quarter of 2025, net sales (GAAP) decreased sequentially to $166.5 million from $191.2 million in the fourth quarter of 2024. Net income (GAAP) decreased to $19.5 million, or $0.58 per diluted American depositary share (“ADS”) (GAAP), from net income (GAAP) of $21.6 million, or $0.64 per diluted ADS (GAAP), in the fourth quarter of 2024.

For the first quarter of 2025, net income (non-GAAP) decreased to $20.3 million, or $0.60 per diluted ADS (non-GAAP), from net income (non-GAAP) of $29.4 million, or $0.87 per diluted ADS (non-GAAP), in the fourth quarter of 2024.

All financial numbers are in U.S. dollars unless otherwise noted.

First Quarter of 2025 Review

“Despite the challenging macro environment in the first quarter of 2025, we executed our plan and delivered quarterly revenue at the high end of our guided range and delivered another quarter of gross margin expansion,” stated Wallace Kou, President and CEO of Silicon Motion. “Our industry leading PCIe Gen 5 controller experienced stronger than expected demand during the quarter, partially driven by growing AI inference demands from white box server makers leveraging more mainstream hardware components. Our eMMC and UFS controllers also experienced better than expected demand given a rebound in the smartphone market and our ongoing market share gains. While the near-term remains challenging given the broader economic challenges associated with tariffs and potential trade wars, we remain focused on delivering strong, sustainable long-term growth through product diversification; expanding into new markets; and growing market share across our portfolio of consumer, enterprise, automotive, industrial and storage solutions.”

Key Financial Results

Other Financial Information

During the first quarter of 2025, we had $11.7 million of capital expenditures, including $7.0 million for the routine purchases of testing equipment, software, design tools and other items, and $4.7 million for building construction in Hsinchu, Taiwan.

Returning Value to Shareholders

On February 6, 2025, we announced that our Board of Directors had authorized a new program for the Company to repurchase up to $50 million of our ADSs over a six-month period. In the first quarter of 2025, we repurchased $24.3 million of our ADSs at an average price of $56.96 per ADS.

Business Outlook

“We are rapidly expanding our market opportunities as we invest in new products and enter new markets, which we anticipate will drive improved revenue and profitability for many years to come. In 2025, we expect to benefit from the introduction of several new products, including our 8-channel PCIE Gen 5 controller, our 4-channel PCIe Gen 5 controller targeting the mass market that will be introduced in late 2025, our higher-end UFS 4.1 and new low-cost  UFS 2.2 controllers that will ramp in the second half of 2025. We introduced our first MonTitan enterprise/AI-class products at the end of 2024, and we expect these to ramp-up production with our first customers in the second half of 2025. Additionally, we continue to expand our automotive product portfolio and our market share across multiple applications. While the near-term environment remains challenging given the macro environment, including the potential impact of tariffs and potential trade wars, we continue to believe we will see a strong rebound in the consumer markets in the second half of 2025, enhanced by our new product introductions, and we continue to target a revenue run rate of $1 billion as we exit the year.”

For the second quarter of 2025, management expects:

* Projected gross margin (non-GAAP) excludes $0.1 million of stock-based compensation.
** Projected operating margin (non-GAAP) excludes $3.1million to $4.1 million of stock-based compensation and dispute related expenses.

Conference Call & Webcast:

The Company’s management team will conduct a conference call at 8:00 am Eastern Time on April 30, 2025.

Conference Call Details
Participants must register in advance to join the conference call using the link provided below. Conference access information (including dial-in information and a unique access PIN) will be provided in the email received upon registration.

Participant Online Registration:
https://register-conf.media-server.com/register/BI5c69a4c2d96041b59a2bf8a51cec1881

A webcast of the call will be available on the Company’s website at www.siliconmotion.com.

Discussion of Non-GAAP Financial Measures

To supplement the Company’s unaudited selected financial results calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), the Company discloses certain non-GAAP financial measures that exclude stock-based compensation and other items, including gross profit (non-GAAP), gross margin (non-GAAP), operating expenses (non-GAAP), operating profit (non-GAAP), operating margin (non-GAAP), non-operating income (expense) (non-GAAP), net income (non-GAAP), and earnings per diluted ADS (non-GAAP). These non-GAAP measures are not in accordance with or an alternative to GAAP and may be different from similarly-titled non-GAAP measures used by other companies. We believe that these non-GAAP measures have limitations in that they do not reflect all the amounts associated with the Company’s results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate the Company’s results of operations in conjunction with the corresponding GAAP measures. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP measure. We compensate for the limitations of our non-GAAP financial measures by relying upon GAAP results to gain a complete picture of our performance.

Our non-GAAP financial measures are provided to enhance the user’s overall understanding of our current financial performance and our prospects for the future. Specifically, we believe the non-GAAP results provide useful information to both management and investors as these non-GAAP results exclude certain expenses, gains and losses that we believe are not indicative of our core operating results and because they are consistent with the financial models and estimates published by many analysts who follow the Company. We use non-GAAP measures to evaluate the operating performance of our business, for comparison with our forecasts, and for benchmarking our performance externally against our competitors. Also, when evaluating potential acquisitions, we exclude the items described below from our consideration of the target’s performance and valuation. Since we find these measures to be useful, we believe that our investors benefit from seeing the results from management’s perspective in addition to seeing our GAAP results. We believe that these non-GAAP measures, when read in conjunction with the Company’s GAAP financials, provide useful information to investors by offering:

• the ability to make more meaningful period-to-period comparisons of the Company’s on-going operating results;
• the ability to better identify trends in the Company’s underlying business and perform related trend analysis;
• a better understanding of how management plans and measures the Company’s underlying business; and
• an easier way to compare the Company’s operating results against analyst financial models and operating results of our competitors that supplement their GAAP results with non-GAAP financial measures.

The following are explanations of each of the adjustments that we incorporate into our non-GAAP measures, as well as the reasons for excluding each of these individual items in our reconciliation of these non-GAAP financial measures:

Stock-based compensation expense consists of non-cash charges related to the fair value of restricted stock units awarded to employees. The Company believes that the exclusion of these non-cash charges provides for more accurate comparisons of our operating results to our peer companies due to the varying available valuation methodologies, subjective assumptions and the variety of award types. In addition, the Company believes it is useful to investors to understand the specific impact of share-based compensation on its operating results.

Restructuring charges relate to the restructuring of our underperforming product lines, principally the write-down of NAND flash, embedded DRAM and SSD inventory valuation and severance payments.

Dispute related expenses consist of legal, consultant, other fees and resolution related to the dispute.

Foreign exchange loss (gain) consists of translation gains and/or losses of non-US$ denominated current assets and current liabilities, as well as certain other balance sheet items, which result from the appreciation or depreciation of non-US$ currencies against the US$. We do not use financial instruments to manage the impact on our operations from changes in foreign exchange rates, and because our operations are subject to fluctuations in foreign exchange rates, we therefore exclude foreign exchange gains and losses when presenting non-GAAP financial measures.

Realized/Unrealized loss (gain) on investments relates to the disposal and net change in fair value of long-term investments.

Silicon Motion Technology Corporation
Consolidated Statements of Income
(in thousands, except percentages and per ADS data, unaudited)

Silicon Motion Technology Corporation
Reconciliation of GAAP to Non-GAAP Operating Results
(in thousands, except percentages and per ADS data, unaudited)

Silicon Motion Technology Corporation
Consolidated Balance Sheet
(In thousands, unaudited)

Silicon Motion Technology Corporation
Condensed Consolidated Statements of Cash Flows
(in thousands, unaudited)

About Silicon Motion:

We are the global leader in supplying NAND flash controllers for solid state storage devices. We supply more SSD controllers than any other company in the world for servers, PCs and other client devices and are the leading merchant supplier of eMMC and UFS embedded storage controllers used in smartphones, IoT devices and other applications. We also supply customized high-performance hyperscale data center and specialized industrial and automotive SSD solutions. Our customers include most of the NAND flash vendors, storage device module makers and leading OEMs. For further information on Silicon Motion, visit us at www.siliconmotion.com.

Forward-Looking Statements:

This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” or the negative of these terms or other comparable terminology.
Although such statements are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on them. These statements involve risks and uncertainties, and actual market trends or our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied in these forward-looking statements for a variety of reasons. Potential risks and uncertainties include, but are not limited to the unpredictable volume and timing of customer orders, which are not fixed by contract but vary on a purchase order basis; the loss of one or more key customers or the significant reduction, postponement, rescheduling or cancellation of orders from one or more customers; general economic conditions or conditions in the semiconductor or consumer electronics markets; the impact of inflation on our business and customer’s businesses and any effect this has on economic activity in the markets in which we operate; the functionalities and performance of our information technology (“IT”) systems, which are subject to cybersecurity threats and which support our critical operational activities, and any breaches of our IT systems or those of our customers, suppliers, partners and providers of third-party licensed technology; the effects on our business and our customer’s business taking into account the ongoing U.S.-China tariffs and trade disputes; the uncertainties associated with any future global or regional pandemic; the continuing tensions between Taiwan and China, including enhanced military activities; decreases in the overall average selling prices of our products; changes in the relative sales mix of our products; changes in our cost of finished goods; supply chain disruptions that have affected us and our industry as well as other industries on a global basis; the payment, or non-payment, of cash dividends in the future at the discretion of our board of directors and any announced planned increases in such dividends; changes in our cost of finished goods; the availability, pricing, and timeliness of delivery of other components and raw materials used in the products we sell given the current raw material supply shortages being experienced in our industry; our customers’ sales outlook, purchasing patterns, and inventory adjustments based on consumer demands and general economic conditions; any potential impairment charges that may be incurred related to businesses previously acquired or divested in the future; our ability to successfully develop, introduce, and sell new or enhanced products in a timely manner; and the timing of new product announcements or introductions by us or by our competitors. For additional discussion of these risks and uncertainties and other factors, please see the documents we file from time to time with the U.S. Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on April 30, 2024. Other than as required under the securities laws, we do not intend, and do not undertake any obligation to, update or revise any forward-looking statements, which apply only as of the date of this news release.

Silicon Motion Investor Contacts:
Tom Sepenzis                                                                                             Selina Hsieh
Senior Director of IR & Strategy                                                                Investor Relations
[email protected]                                                                 [email protected]

SOURCE Silicon Motion Technology Corporation

SILICON VALLEY, Calif., April 29, 2025 — VOC.AI, a North America leader in AI-driven customer service solutions and intelligent insights, announced today the successful completion of a new multi-million-dollar funding round. The investment was led by Shanda Grab Ventures, in partnership with Northern Light Venture Capital and Starting Gate Fund. Unique Capital served as the exclusive financial advisor.

The funding will accelerate the development of VOC.AI’s AI-enabled agents and support its mission to boost workforce efficiency through intelligent, AI-driven customer service solutions. By implementing digital employees to manage repetitive and routine tasks, human teams are empowered to focus on higher-value, creative, and strategic work.

“AI Agent technology is driving a paradigm shift in the global business ecosystem, especially in e-commerce, where intelligent customer experiences have become a core competitive factor,” said Cathy Ge, Deputy CIO of Shanda Grab Ventures. “VOC.AI’s strategic positioning places it at the forefront of this transformation. Its global smart infrastructure and regional capability matrix redefine the value chain of customer experience, introducing an evolutionary technology gene into the fundamental logic of cross-border commerce.”

A New Era of Customer Service AI

VOC.AI is redefining the enterprise software landscape with its pioneering AI Digital Employee, designed to deliver measurable outcomes instead of simply feature-stacking. Unlike traditional SaaS platforms, VOC.AI’s approach provides operational AI-powered agents that take full ownership of task execution and quality assurance. By combining efficient digital operations with seamless omnichannel integration, VOC.AI helps clients reduce recruitment costs without inflating SaaS spend—driving significant gains in both productivity and cost efficiency. This results-driven approach positions VOC.AI at the forefront of a new SaaS paradigm focused on performance, not just platform features and complexity.

The company’s flagship AI-powered customer service solution, Solvea, sets a new standard for intelligent support with its ‘Technology + Scenario + Compliance’ framework. Built on VOC.AI’s unified AI platform—which integrates generative AI, multi-agent architecture, and an e-commerce knowledge graph—Solvea delivers scalable, end-to-end solutions that drive faster resolution times, increase operational efficiency, and enhance customer satisfaction for leading global e-commerce brands and beyond.

Its AI-powered support agents seamlessly manage complex customer interactions at scale, including company-specific policies and cross-border returns, while providing real-time multilingual support, 24/7 availability, and enterprise-grade compliance with ISO 27001, SOC2 and GDPR standards.

“2025 will be a defining year for AI-powered customer support, as its potential to transform the B2B ecosystem becomes undeniable,“ said Hunter Guo, Founder of VOC.AI. “At VOC.AI, we’re committed to building world-class AI solutions that prioritize customer success and deliver measurable results. Our goal is to provide digital support agents that not only match—but surpass—live agent performance, setting new benchmarks for accuracy, resolution, and customer experience. We’re focused on delivering real business outcomes, not just software features.“

Global Reach, Local Impact

VOC.AI’s core team includes alumni from top tech companies like Google, Alibaba, and ByteDance. Its AI models lead the industry in intent recognition, compliance and problem solving, and it has pioneered a pay-per-actual-service-results model, providing AI Agent services to more than 100 top brands.

“As an early investor in VOC.AI, NLVC has witnessed VOC.AI’s continued exploration and outstanding execution in applying AI technology to real-world user scenarios,“ said Figo Zhang, Partner at Northern Light Venture Capital. “VOC.AI has quickly established a competitive advantage in the cross-border brand e-commerce market, earning the trust and praise of numerous clients. Our decision to increase investment this time reflects our continued recognition of the VOC.AI team and confidence in its future growth potential.“

Future-Focused Strategy

Looking ahead, VOC.AI will continue to build the next generation of AI capabilities – born in North America, built for the world. With a globally scalable architecture tailored to the customer service needs, VOC.AI is poised to lead the next revolution in AI-driven customer experience.

“2025 is set to be a pivotal moment for AI agents, driven by significant advancements in engineering, ecosystem development, and the rapid iterations of foundational models. These breakthroughs are enabling the deep integration of AI agents across industries, enhancing operational efficiency and driving intelligent transformation,“ said Joe Wei, Founding Partner of Starting Gate Fund. “One notable example is VOC.AI, which leverages its technological presence to penetrate niche scenarios effectively. With its AI R&D hub in Silicon Valley, VOC.AI is expanding localized operations in markets like North America and Japan while supporting the intelligent upgrades of e-commerce enterprises, accelerating AI adoption across industries.“

About VOC.AI

VOC.AI is a global technology company providing artificial intelligence agent solutions for customer service. Its unified AI platform combines generative AI with real-time insights to provide AI Agent services to more than 100 top brands. Headquartered in North America, VOC.AI is redefining workforce productivity and customer experience across the globe, through next-generation AI-powered customer service solutions. Visit solvea.voc.ai for more information. 

Media Contact:
Email: [email protected] 
Website: solvea.voc.ai

SOURCE VOC.AI

AUSTIN, Texas, April 29, 2025 — ATX Venture Partners, an Austin-based venture capital fund and co-investment platform with over $700 million under management, has facilitated the sale of its portfolio company, GoCo, to strategic acquirer Intuit, the publicly traded company and leader in small business payroll via its QuickBooks products. The GoCo acquisition will strengthen Intuit’s platform, helping it to become an all-inclusive provider of finance and HR operations for small and medium-sized businesses, bolstered by GoCo’s full HR suite.

“When we first met the GoCo team, they were already on their third venture together. They were experienced, visionary, and unwavering in their conviction. They weren’t chasing trends; they were building lasting solutions to real pain points they had personally encountered while building and scaling businesses,” said Chris Shonk, General Partner at ATX Venture Partners. “These were the same challenges we had faced as operators ourselves—and ones we recognized across our broader ATX portfolio.”

GoCo intentionally pursued a non-traditional venture path. Instead of seeking capital from generalist investors, they chose to work exclusively with aligned partners who understood their space and shared their long-term vision. ATX Venture Partners was the only venture capital firm on the cap table by design, leading a syndicate of corporate and strategic investors to support GoCo’s growth.

“GoCo made bold go-to-market moves early on, combining a bifurcated, channel-first model with a strong direct sales motion—what some saw as risky turned out to be deeply synergistic,” said Danielle Allen, General Partner at ATX Venture Partners. “We co-led a strategic bridge round to strengthen their balance sheet at a pivotal moment, giving them the runway to scale. Though acquisition offers surfaced, they never aligned with the full vision or market potential we saw. We were proud to be in GoCo’s corner—guided throughout by candor, civility, and data-driven decision-making.”

This milestone marks a proud moment for ATX Venture Partners, not just because of the return, which provides meaningful liquidity to their investors, but because it reflects the kind of partnerships they seek: bold, values-driven leaders navigating opportunities where they can make a difference, all rooted in mutual trust. This is a story of people, process, and collaboration, with partners unafraid to do the work, think independently, test-measure-repeat, and build a culture of fun, experimentation, and collective winning. The team’s strategy, their execution, and their grit have culminated in a success that exemplifies the vision championed at ATX Venture Partners.

“When we started GoCo, we thought building an HR platform would be relatively simple — but it quickly became clear how complex and interconnected every piece was. Stitching it all together into something intuitive was the real challenge,” said GoCo Co-founder and Chief Product Officer Michael Gugel. “Seeing the impact on our clients has made every bit of it worth it. We’re incredibly grateful to partners like ATX Venture Partners, who believed in our long-term vision and supported us every step of the way.”

About ATX Venture Partners

ATX Venture Partners launched in 2014 as the premier Texas-based early-stage Venture Capital Fund and dedicated co-invest platform. ATX manages over $700M and invests primarily in Series Seed & Series A companies with a thematic emphasis on AI/ML, supply chain, fintech and enterprise. ATX leads or co-leads investment rounds, strives for double digit (20%+) ownership by Series A. Notable recent acquisitions of our portfolio companies include exits to Intuit, Microsoft, Q2, Daimler, National Instruments and Vista Equity. ATX Venture Partners was founded by Chris Shonk and Daniele Allen and is woman and veteran owned.

About GoCo

GoCo is an award-winning HR platform built for small and mid-sized businesses, named a 2024 HR Tech Award Winner for Best Small Business-Focused Solution and recognized for excellence in customer service by the Stevie® Awards and Business Intelligence Group. From onboarding and benefits to performance and payroll, GoCo brings HR data to life with powerful automation, configurable workflows, and an intuitive user experience to help businesses streamline HR and build happier, more productive teams.

Contact: [email protected]

SOURCE ATX Venture Partners

BOSTON, April 29, 2025 — indiGOtech (Tradename: GO), a new mobility tech company based in Massachusetts, today announced it closed a $54 million Series BB funding round, including investments from FedEx (NYSE: FDX), Foxconn (2354.TW) and FM Capital. These investments accelerate GO’s mission to provide sustainable local transport, leveraging its patented SmartWheels™, Smart EVs and Smart Mobility Services. Mobility Network Companies (MNCs) today all compete for gig drivers that mostly use gas cars because EVs are still too expensive, hard to recharge and expensive to repair. GO is pioneering radically new SmartWheels™ powered EVs and AVs (autonomous vehicles) that are roomier, smoother and safer, yet more cost-effective to own, operate and repair. GO EVs will also be more accessible via GO Loop service hubs that will maintain, charge and repair the EVs for drivers to access and earn a fair income with flexible hours.

“GO is run by MIT entrepreneurs with patented deep tech applied to the growing needs of drivers and fleets.” Will Graylin, CEO, said. Will Graylin, who led four previous tech ventures to reach mass commercial scale, including Samsung Pay. “Our SmartWheels powered EVs, and AVs offer superior user experiences and unit economics for ride hail and delivery companies and drivers to better serve their communities.”

GO is offering multiple light smart EVs for fleets and mobility companies. The DASH can seat four and carry packages with a spacious 90 cubic feet interior, 110 miles of range and is priced around $20K after tax credits; it is now ready for pre-orders with fulfillment in Q4 of 2025. The FLOW is powered by GO SmartWheels™ (a breakthrough integrated smart suspension and propulsion system in each wheel), that enable a magic carpet like experience, 185 cubic feet of space, 200+ miles of range and a low flat floor for easy seat changes and ingress/egress for people, packages and wheelchairs.

The FLOW is 100% drive-by-wire capable, with a center drive cockpit ideal for ergonomics and for easy switching between human drivers and autonomous driving systems (ADS) needed by MNCs. GO recently acquired Clevon, an unmanned delivery vehicle provider with teleoperations and ADS capabilities, to accelerate GO’s SmartWheels platform development and to integrate our SmartWheels™ modularly with best-in-class regional ADS providers to serve local MNCs.

This round of strategic funding from FedEx and Foxconn positions GO very well to start GO Loop services, launch the DASH, and secure a Series C by year end to bring the FLOW to market. GO has also signed with TD Cowen as its investment banker to raise its Series C from large strategic and institutional investors. GO’s talented team across U.S., Europe and Asia is excited to be innovating towards the future of sustainable ride hail and delivery solutions.

About indiGOtech

indiGOtech (Tradename: GO) is a new mobility tech company providing next gen EVs and transport services for sustainable local ride hail and deliveries, with superior user experience and unit economics. GO’s patented SmartWheels™ power Smart EVs and AVs called FLOW, that are roomier, smoother and safer, yet more efficient and economical. GO Loop provides local electric transport services (LETS) with Smart EVs and Service Hubs and Smart Driver Management to supply mobility companies with more cost-effective rides and deliveries. Join us in the mission to provide more sustainable transportation for our communities — LETS GO! www.indiGOtech.com

Disclaimer : This press release contains forward-looking statements based on current expectations, estimates, forecasts, and projections about the industry in which the company operates and management’s beliefs and assumptions. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions which are difficult to predict. Therefore, actual outcomes and results may differ.

SOURCE Indigo Technologies

LOS ANGELES, April 29, 2025 — ColdVentures, maker of rapid core body cooling product ColdVest, announced today the closure of its seed funding round valuing the company at $2.5 million post-money. The round was led by strategic investors and early supporters committed to combating death from heat-related illnesses.

Founded in 2023, ColdVentures has developed a patented, FDA Class 1 medical device that delivers rapid core body cooling through an endothermic reaction, providing immediate relief for individuals experiencing heat stress. The technology is designed for use in various settings, including schools, athletic programs, and workplaces exposed to high temperatures.

“As global temperatures rise, the need for effective, portable cooling solutions becomes increasingly critical,” said Tracie Wagman, CEO of ColdVentures. “Our mission is to provide accessible tools to prevent heat-related health issues, and this funding will enable us to scale our operations and reach more communities in need.”

ColdVest is being deployed in schools, athletic programs, and job sites across the U.S.—from indoor industrial facilities to outdoor construction zones—where the risk of heat illness is high. The company is also currently operating in Japan and Australia, and is actively looking at expanding into other countries, supporting efforts to protect workers, students and athletes in some of the world’s most heat-vulnerable regions.

For more information about ColdVentures and its products, visit www.coldvest.com.

SOURCE ColdVest

High-Rate Configurable Buses to be Produced in Apex’s Los Angeles Facility

LOS ANGELES, April 28, 2025 — Apex, the world’s first spacecraft manufacturer to offer productized, high-rate configurable satellite bus platforms, announced its $200 million Series C funding round. The funding round was led by Point72 Ventures and co-led by 8VC, alongside existing investors including Andreessen Horowitz, as well as new firms Washington Harbour Partners and StepStone Group.

This fundraise will allow Apex to scale production to meet rapidly expanding customer demand for its satellite bus platforms and follows the successful one-year-on-orbit milestone of Apex’s first spacecraft mission.

“Apex’s approach to building spacecraft is key to America realizing its commercial and national security strategies in space. This successful raise accelerates our production, allowing Apex to expand its inventory ahead of demand to better enable the missions of our innovative customers, including defense primes, the U.S. government, and some of the most exciting companies in the country,” said Apex CEO and Founder Ian Cinnamon.

The only manufacturer of off-the-shelf satellite buses, Apex is revolutionizing the industry by helping customers shift risk and money away from crafting bespoke spacecraft to focus on advancing space capabilities using their standard spacecraft bus platforms.

“Apex is laser-focused on what we believe missions in space need most: rapid delivery, transparent pricing, and the highest possible quality,” said Chris Morales, Partner at Point72 Ventures. “The demonstrated success of Apex’s satellite buses and the company’s innovative approach to manufacturing have helped them win the trust of customers ranging from the U.S. Space Force to industry leading primes.”

“Apex’s satellite buses are delivering the on-orbit proliferation required for America to prevail in the new space race,” said Joe Lonsdale, Founder and Managing Partner at 8VC. “This Administration recognizes where our defense capabilities demand drastic evolution. Apex’s pace of innovation and manufacturing speed and scale exemplify the bold approach needed to secure the edge for our forces.”

Increased production will take place at Apex’s 50,000-square-foot Los Angeles-based spacecraft production complex, known as Factory One. Factory One enables Apex to build ahead of need, offering an inventory of satellite bus platforms that support missile defense, space-based interceptors, LEO and GEO space domain awareness, and combat power, while also delivering vehicles for communications and remote sensing constellations. Apex is positioned to support rapid delivery for Golden Dome, Proliferated Warfighter Space Architecture, and other programs.

“We intimately understand the needs of the warfighter and the technology that accelerates decisive capability,” said Mina Faltas, Founder and CEO of Washington Harbour Partners. “Without Apex, America cannot achieve the kind of mass it needs in space in the relevant time frame and at an acceptable cost.”

The raise caps off an eventful year for Apex, which includes celebrating one year on orbit for its first Aries spacecraft mission, Aries Serial Number One (SN1); winning a $46 million U.S. Space Force contract; developing GEO Aries, a productized satellite bus intended for geostationary orbit missions; and announcing Nova, a satellite bus platform supporting payloads ranging from 200 to 500 kg.

Media Contact: Claude Chafin, Invariant: [email protected]

About Apex

Apex is the leading manufacturer of high-rate configurable satellite bus platforms designed to meet the demands of the rapidly expanding space industrial base. Founded in 2022 by Ian Cinnamon and Max Benassi, Apex manufactures scalable spacecraft solutions for both commercial and government customers. The company set a world record with its first satellite bus as the fastest clean-sheet design to production spacecraft operating in space. Backed by some of the country’s leading investors, Apex is committed to accelerating space innovation through high-rate manufacturing of productized, reliable satellite platforms that enable the next generation of missions. Headquartered in Los Angeles, California, Apex was named one of Fast Company’s most innovative space companies in 2025. For more information, visit www.ApexSpace.com

SOURCE Apex Space

Insight Partners leads round with participation from existing investors Afore Capital, Crossbeam Venture Partners, and Metrodora Ventures, bringing total funding to $32.5M to fuel Blooming Health’s AI-driven social care platform expansion to 10 million people

NEW YORK, April 29, 2025 — Blooming Health, a social care technology platform, today announced it has raised $26 million in a Series A funding round led by global software investor Insight Partners, with participation from existing investors Afore Capital, Crossbeam Venture Partners, and Metrodora Ventures. This investment brings Blooming Health’s total funding to $32.5 million. The round comes as Blooming Health accelerates its mission to automate access to social care through artificial intelligence, a vision that has already connected over 1.5 million people across 22 states with much-needed support.

AI-Powered Platform Transforming Access to Social Care

Blooming Health’s platform leverages a social care AI agent and an automated social care marketplace to streamline the way individuals find and receive critical social services. The AI agent engages directly with people (often older adults and vulnerable populations) via text or phone, helping identify needs and connecting them to services in seconds. Meanwhile, Blooming Health helps 1,000+ community organizations, government agencies, and healthcare providers more effectively reach and manage their populations at scale. By intelligently optimizing outreach and triage, Blooming Health helps ensure each person is guided to the right support — whether it’s meal delivery, transportation to a doctor, housing assistance, or social activities — efficiently and at scale. This approach is a win-win-win for stakeholders, improving outcomes for individuals, freeing up staff time at community organizations to focus on high-touch care, and enabling visibility and accountability across the ecosystem with real-time reporting and analytics.

“Blooming Health was founded to ensure no one falls through the cracks when it comes to essential social support,” said Nima Roohi, co-founder and CEO of Blooming Health. “By putting AI at the core of our solution, we can proactively reach out to millions of people and connect them with services in ways that simply weren’t possible before. We’re thrilled to have Insight Partners and our early investors backing this mission — their support validates the urgency of what we’re doing and will help us scale our impact to new levels.”

Scaling to Meet Surging Demand

With healthcare costs soaring and populations aging, the need for scalable social care solutions has never been greater. U.S. healthcare spending is projected to reach $4.9 trillion in 2024 , and by 2030, one in five Americans will be 65 or older– trends that intensify pressure on already strained social services. Blooming Health’s AI-driven approach directly addresses this challenge by efficiently bridging individuals to non-medical supports that keep them healthier and more independent. The Series A funds will be used to rapidly scale operations to reach 10 million people within the next 12 months, expanding Blooming Health’s presence nationwide. The company will also deepen partnerships with state and local governments, healthcare systems, and community-based organizations to integrate social care into broader healthcare delivery.

Investors Back Blooming Health’s Vision

The investor community is rallying behind Blooming Health’s vision of blending technology and compassion to transform social care.

“Software can help heal healthcare and America’s broken healthcare system. Blooming represents the beauty of software: it solves for complexity and helps reshape and improve how millions will access care beyond the clinical setting,” said Scott Barclay, Managing Director at Insight Partners. “Further, software can drive efficiency, transparency, and accountability— attributes that are critical in any social funding and political environment.”

“We’ve been believers in Blooming Health from day one, and it’s amazing to see how far they’ve come,” said Gaurav Jain, Co-Founder and Managing Partner at Afore Capital (an early backer of Blooming Health). “What started as an idea to help a few thousand seniors is now an intelligent platform poised to serve tens of millions, all while staying true to their mission of helping those in need.”

“Community organizations and healthcare providers have long struggled to reach everyone who needs help – especially as demand rises,” said Sakib Jamal, Principal at Crossbeam Venture Partners. “Blooming Health’s solution is a game-changer, automating the heavy lifting of outreach and coordination so that no one gets overlooked. We’re proud to continue supporting their work connecting people with the resources they need while reducing cost of services.”

“Blooming Health is transforming how we deliver social care — ensuring underserved populations, from older adults to new parents to Medicaid patients, receive the dignity, support, and connection they deserve. I’m proud to be an investor and partner in their mission to build a more inclusive, person-centered healthcare future.” said Chelsea Clinton, Co-Founder of Metrodora Ventures and Vice Chair of the Clinton Foundation.

“Blooming Day 2025” – Navigating the Future of Social Care

In addition to the funding news, Blooming Health announced its upcoming annual Blooming Day 2025 conference, a major event for thought leaders in social care and health tech. Slated for May 2, 2025 in New York City (with virtual streaming available), the event’s theme – “Navigating Change with Confidence: The Future of Social Care” – reflects Blooming Health’s forward-looking approach to tackling social challenges. Blooming Day 2025 will include exciting new product launches by Blooming Health and feature keynote talks and interactive discussions focused on innovative strategies to expand equitable access to social services. High-profile speakers and panelists are set to include:

• Dr. Chelsea Clinton, Co-Founder of Metrodora Ventures and Vice Chair of the Clinton Foundation
• Dr. James McDonald, Commissioner, New York State Department of Health
• Chiquita Brooks-LaSure, former Administrator of the Centers for Medicare & Medicaid Services (CMS)
• Dr. Mandy Cohen, former Director of the U.S. Centers for Disease Control and Prevention (CDC)
• Sen. Kirsten Gillibrand, U.S. Senator for New York

This powerhouse lineup underscores Blooming Health’s commitment to fostering cross-sector collaboration in reimagining social care. “When we bring together leaders from government, healthcare, and community organizations, we can break down silos and create a stronger support network for all,” said Roohi. “Blooming Day is about inspiring action and sharing solutions – we want everyone to leave with new ideas and renewed confidence in making change.”

Together, the Series A investment and the Blooming Day event mark the beginning of an exciting new chapter for Blooming Health. With strong backing and a coalition of renowned partners, the company is poised to drive a more connected, compassionate social care ecosystem for communities across the country.

About Blooming Health

Blooming Health is a purpose-driven platform that helps community-based organizations, social care networks, healthcare providers, and government agencies reach, engage, and support underserved communities. With automated outreach and communications available in over 80 languages, Blooming Health empowers teams across 22 states to do more with less while preserving the human touch at the heart of their work. By partnering with Blooming Health, organizations can make a bigger impact and reach more people with care and support. For more information, visit https://gobloominghealth.com/.

About Insight Partners

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2024, the firm has over $90B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.

SOURCE Blooming Health

SANTA CRUZ, Calif., April 29, 2025 — Mado Dynamic, a climate-tech startup reimagining window treatments for the modern home, has successfully concluded its debut Kickstarter campaign with $306,960 raised from 330 backers—828% of its funding goal—in just 37 days. The campaign places Mado in the top 1% of all hardware projects by funds raised, with nearly 1,000 solar-powered, automated window shades pre-sold.

For context, VC-backed Peloton raised a similar amount—$307,332 from 297 backers—during its 2013 Kickstarter debut. In a traditionally slow-moving category like window coverings, Mado’s early momentum represents a rare breakout moment.

Additionally, over 70% of backers expressed intent to purchase additional units for multiple rooms or full-home installations—demonstrating strong early retention potential and deep customer enthusiasm.

The Product: A New Standard in Energy-Efficient Comfort

Mado’s flagship product, the C-Series, blends intelligent automation with clean-sheet design. It features solar-powered motors, adaptive algorithms that respond to changing light and temperature, and a tool-free, drill-free installation that takes minutes—no handyman required. Designed for both renters and homeowners, the system uses ambient sunlight to power itself and automatically adjusts to optimize light, reduce heat gain, and lower HVAC usage up to 20%.

“We’re not just selling window shades—we’re delivering an instant, intelligent energy retrofit,” said Andrew Einaudi, CEO and co-founder. “We believe sustainability should be simple, beautiful, and accessible to everyone.”

Campaign Highlights:

• $306,960 raised in 37 days
• ~1,000 units sold (average order value ~$875)
• 25% of customers were new to Kickstarter
• Most backers plan to purchase again
• $3,000+ donated to Glimmer’s Childhood Cancer Foundation

With the campaign now closed, U.S. shipments are set for September 2025, followed by a direct-to-consumer launch and retail rollout later this year.

2026 Global Expansion & Strategic Opportunities

Mado will expand internationally in 2026, targeting markets where urban density, rental housing, and climate-forward policy are accelerating demand for retrofit-friendly solutions. The company is fielding active interest from global distributors, architects, energy-efficiency consultants, and developers.

“This is just the start,” said co-founder Michael Brylawski. “The window is the gateway to every building’s energy story. Mado makes it ridiculously easy to install smart, solar-powered shades that save up to 20% on energy bills—with design and simplicity consumers love.”

Mado Dynamic is currently seeking strategic partnerships and early-stage investment to support international growth, manufacturing scale-up, and continued product development.

Media Contact
Brian Jaquet
Communications and PR, Mado Dynamic
[email protected]
www.madodynamic.com

SOURCE Mado Dynamic