PITTSBURGH, May 15, 2025 — Carnegie Mellon University (CMU), Arm and SoftBank Group Corp. (SBG) today announced that Arm and SBG will contribute USD 15.5 million to CMU to support its partnership with Keio University (Keio), a collaboration to accelerate the global advancement of AI.

A year ago, the United States and Japan launched a research partnership to accelerate advancements in AI on a global scale. The partnership will bring the two countries closer together as international leaders in AI by pairing up CMU with Keio and, in a related effort, the University of Washington with the University of Tsukuba. Several global companies — including Amazon, Arm, Microsoft, NVIDIA and SBG — and a consortium of Japanese companies pledged USD 110 million in contributions to support these collaborations.

Arm, the company that is building the future of computing, and SBG, a global investor in breakthrough technologies, will provide CMU with USD 15.5 million to support the university’s efforts in this partnership. The funding will give CMU scientists access to cutting-edge commercial tools and models and support fundamental research in areas where AI will have a transformative effect. 

“Carnegie Mellon is thankful for the support of Arm and SoftBank Group Corp. to further the development of transformative technologies powered by artificial intelligence. AI is pushing scientific discovery in fields like robotics and biomedicine, helping researchers understand complex systems and predict outcomes with increased accuracy,” said Martial Hebert, Dean, CMU’s School of Computer Science. “The CMU and Keio partnership will unlock research potential across the globe. Together, with generous and expert industry backing, we will blaze the new path charted by pioneering breakthroughs made possible through AI.”

As a key feature of the partnership, Arm will provide CMU researchers with access to their hardware and software IP and tools through the company’s Academic Access model, allowing researchers to innovate, evaluate, design and manufacture with the latest technology from Arm. The company’s funding will also support research collaboration, capstone projects, internships and other student experiences between CMU and Keio.

“At Arm, we see the future of AI at the intersection of cutting-edge research, world-class engineering and practical application. Our partnership with the SoftBank Group and Carnegie Mellon University accelerates AI innovation while empowering the next generation,” said Khaled Benkrid, Senior Director, Education and Research, Arm. “By uniting academia and industry, we’re not just advancing technology, we’re also investing in its future architects.”

SBG will establish the SoftBank Group–Arm Fellowship with its contribution. The fellowship will support CMU’s Ph.D. students in AI research. The funding will also support student-focused academic programs, such as summer research opportunities for undergraduate students, capstone projects and internships.

“AI’s true potential emerges at the nexus of diverse ideas, rigorous scholarship and strategic international alliances,” said Tim Mackey, Corporate Officer, CLO & GCO, Head of Legal Unit of SoftBank Group Corp. “Through our support for the Carnegie Mellon–Keio initiative, we seek not only to catalyze innovation but also to strengthen the foundational bonds between Japan and the U.S., building a robust pipeline of visionary AI talent prepared for global leadership.”

With support from Arm and SBG, researchers at CMU and Keio will embark on work in four main areas: multimodal and multilingual learning, embodied AI for robotics, autonomous AI symbiosis with humans, and life sciences and AI for scientific discovery. Collaborations between CMU and Keio have begun. Researchers from Keio visited CMU in the fall of 2024. CMU researchers visited Keio in the spring of 2025.

CMU and Keio researchers in a current project in embodied AI are developing systems that will allow robots to better understand their own abilities, making them more effective at completing tasks around the home. Anticipated research in multimodal, multilingual learning will look at methods to reduce hallucination problems in large language models when they are used to analyze images or other multimodal data. Projects in AI symbiosis could include research into understanding non-verbal communication, interaction with robotics arms and social navigation. Researchers looking at the use of AI for scientific discovery will investigate AI-controlled experimentation and data analysis, including biomedical image analysis, lab automation and AI-enabled interpretation of molecular measurements.

About Carnegie Mellon University
Carnegie Mellon, cmu.edu, is a private, internationally ranked research university with acclaimed programs spanning the sciences, engineering, technology, business, public policy, humanities and the arts. Our diverse community of scholars, researchers, creators and innovators is driven to make real-world impacts that benefit people across the globe. With an unconventional, interdisciplinary and entrepreneurial approach, we do the work that matters.

About Arm
Arm is the industry’s highest-performing and most power-efficient compute platform with unmatched scale that touches 100 percent of the connected global population. To meet the insatiable demand for compute, Arm is delivering advanced solutions that allow the world’s leading technology companies to unleash the unprecedented experiences and capabilities of AI. Together with the world’s largest computing ecosystem and 22 million software developers, we are building the future of AI on Arm.

All information is provided “as is” and without warranty or representation. This document may be shared freely, attributed and unmodified. Arm is a registered trademark of Arm Limited (or its subsidiaries or affiliates). All brands or product names are the property of their respective holders. © 1995-2025 Arm Limited.

About SoftBank Group
The SoftBank Group invests in breakthrough technology to improve the quality of life for people around the world. The SoftBank Group is comprised of SoftBank Group Corp. (TOKYO: 9984), an investment holding company that includes stakes in AI, smart robotics, IoT, telecommunications, internet services, and clean energy technology providers, as well as a majority stake in Arm, which is building the future of computing; and the SoftBank Vision Funds, which are investing to help transform industries and shape new ones. To learn more, please visit https://group.softbank/en.

SOURCE Carnegie Mellon University

PALO ALTO, Calif., TORONTO and DUBAI, May 15, 2025 – Raiven Capital, a global early-stage venture capital firm, is pleased to announce its membership in the Middle East Venture Capital Association (MEVCA)—the premier organization supporting the growth of venture capital and innovation across the region.

This milestone marks Raiven’s continued commitment to investing in startups in Gulf Cooperation Council (GCC), following the launch of its second Dubai Financial Services Authority (DFSA) licensed fund based in the Dubai International Financial Centre (DIFC).

“Raiven is honored to join MEVCA, the leading platform for VCs in the region,” said Paul Dugsin, Co-Founder of Raiven Capital. “We believe in building ecosystems, not just portfolios. MEVCA gives us a platform to collaborate with like-minded investors, founders, and changemakers driving the region’s future.”

“We’re delighted to welcome Raiven Capital to the MEVCA community. Their global perspective, combined with deep operational expertise, adds tremendous value to the region’s growing VC landscape. Raiven’s commitment to supporting founders and fostering collaboration aligns perfectly with MEVCA’s mission to connect and strengthen the venture ecosystem across the region.” 
— Omar AlKhawaja, Vice Chairman, MEVCA

Raiven’s expansion into the Middle East complements its global footprint. The firm’s first fund, launched in Toronto and Silicon Valley, was ranked in the top 10% of North American funds, in a 2025 survey of 1,800 VC firms by Carta Fund Services.

“We’re seeing world-class founders and breakthrough ideas across the Middle East,” said Supreet Manchanda, Co-Founder. “Our operator-investor team is deeply engaged in helping startups achieve product-market fit, scale efficiently, and create long-term value. MEVCA is a key enabler in that journey.”

As Raiven builds strong relationships across the GCC, the firm is focused on its core mission: investing in bold founders building the future with AI, IoT, and other new technologies.

Check out our new and improved website at raivencapital.com that reflects our market and fund expansion.

About MEVCA

The Middle East Venture Capital Association (MEVCA) aims to serve the Middle East’s entrepreneurial and investment community through a concerted effort to advance the region’s venture capital industry and greater entrepreneurial ecosystem.

About Raiven Capital

Raiven Capital is a global VC, investing at the intersection of Artificial Intelligence, Internet of Things, and operational transformation. With hubs in Silicon Valley, Toronto, and Dubai, Raiven has delivered multiple successful exits since 2020. Its portfolio spans AI, IoT, deeptech and digital platform companies driving systemic change.

SOURCE Raiven Capital

Whataburger and KMO Burger, LLC Announce Joint Venture to Strengthen Presence in Missouri and Kansas

SAN ANTONIO, May 14, 2025 — Whataburger is proud to announce a new joint venture with longtime franchise partner and investment group KMO Burger, LLC, marking a significant step forward in the brand’s continued growth across the Midwest.

As part of this joint venture, Whataburger will contribute its 16 company-owned restaurants in the Kansas City and Springfield, Missouri markets, while KMO Burger, LLC will contribute its 13 existing restaurants. KMO Burger, LLC will own and operate all 29 locations under the Whataburger brand.

“This partnership reflects the strength of our franchise model and the incredible trust we place in our partners,” said Debbie Stroud, Whataburger President and CEO. “KMO Burger, LLC has demonstrated an unwavering commitment to the communities they serve and to the heart of the Whataburger experience — amazing food, exceptional service, and a welcoming atmosphere. We’re confident this joint venture will only deepen our connection with our fans in Kansas and Missouri.”

All Whataburger Restaurants LLC employees currently working as restaurant staff at these locations will transition to become employees of KMO Burger, LLC. A dedicated cross-functional team is in place to ensure the transition is supported with the resources, information and care needed throughout the process.

KMO Burger, LLC will assume operations for all 29 restaurants following the completion of the transaction. The growing investment group continues to embrace Whataburger’s Vision, Mission, and Promise — a testament to the strength of the partnership and the shared commitment to delivering bold flavors and memorable moments.

“As a longtime fan and investor, I’m thrilled to take this next step with Whataburger. The brand means a lot to me — not just for the food, but for how it brings people together. Our team at KMO Burger is ready to keep raising the bar,” said Patrick Mahomes, NFL Quarterback and part-owner of KMO Burger, LCC. “I’m proud to be part of a team that’s focused on both growth and community.”

The corporate restaurant locations that are transitioning as a part of this joint venture are:

• 1460 NE Douglas St, Lees Summit, MO
• 8420 W 135^th St., Overland Park, KS
• 18902 E US Highway 40, Independence, MO
• 905 Highway 7, Blue Springs, MO
• 1851 W Marler Lane, Ozark, MO
• 3880 W Sunshine St, Springfield MO
• 1921 W Foxwood Dr., Raymore, MO
• 204 SW Highway 150, Lees Summit, MO
• 2337 N Glenstone Ave, Springfield, MO
• 9505 Metcalf Ave, Overland Park, KS
• 401 N Eastgate Ave, Springfield, MO
• 1371 US Highway 60 E, Republic, MO
• 2014 S Rangeline Rd, Joplin, MO
• 1705 N State Route 291, Harrisonville, MO
• 714 S Madison St, Webb City, MO
• 1710, 600 W Main St, Branson, MO

About Whataburger®:
Whataburger serves up Goodness 24/7 with a made-to-order, customizable menu of burgers and other favorites delivered just like you like it. Born in Texas and headquartered in San Antonio, we’re celebrating 75 flavorful years of big bites, bold flavors, and even bigger fan love. We’ve grown to over 1,100 restaurants across 16 states, with original-recipe products now found in grocery aisles across the country. Our secret sauce (besides that Fancy Ketchup) is our Family Members—real people serving up real hospitality and meaningful connections in the communities we call home. We’ve landed on Fast Company’s Brands that Matter list, USA Today’s 10Best Readers’ Choice Awards, and Newsweek’s America’s Best of the Best. To learn more, shop the Whatastore, or find your nearest location, visit Whataburger.com—or download our app on iOS or Android. Hungry for more? Discover what keeps fans coming back by diving into real stories from Whataburger super fans at stories.whataburger.com.

For media inquiries, please contact:
[email protected]

SOURCE Whataburger

HAWTHORNE, Calif., May 14, 2025 — Reflect Orbital has raised a $20 million Series A to accelerate development of its satellite constellation to deliver sunlight on demand. The round was led by Lux Capital, with participation from Sequoia Capital and Starship Ventures.

Reflect Orbital is building a constellation of satellites designed to reflect sunlight down to Earth for large-scale lighting and energy applications. This new funding will support team growth, scaled operations, and the company’s first space missions.

“Lux backs some of the most impressive hardware companies out there, and they share our vision. We couldn’t ask for better partners to join us in creating the future of light and energy, and together, we’ll get our first lux on the ground,” said Ben Nowack, CEO & Co-founder of Reflect.

Lux Capital, known for funding and founding transformative science and technology ventures, is expected to play a key role in helping Reflect grow and establish critical industry partnerships.

“Reflect Orbital is pioneering a new category in-space infrastructure that represents the convergence of two areas we’re passionate about–space technology and energy solutions,” said Josh Wolfe, Co-Founder and Managing Partner at Lux Capital. “We believe their on-demand illumination technology has the potential to reshape how we solve problems on Earth–from critical operations to energy resilience–while opening entirely new markets we’re only beginning to imagine.”

Reflect’s first satellite will launch as early as Spring 2026, beginning with its limited “World Tour” lighting experiences in 10 iconic locations. From there, the company will expand to provide lighting for remote operations, defense, civil infrastructure, and energy generation. Reflect is actively contracting with customers after receiving over 260,000 applications for satellite-reflected sunlight from 157 countries last fall. To learn more about reserving sunlight as a service, visit reflectorbital.com.

Reflect Orbital is building a world-class team of engineers and mission-driven professionals. If you’re excited to work on a bold, world-changing solution in a fast-paced, purpose-driven environment, we’re hiring! Explore open roles on our careers page.

For media inquiries, please reach out to [email protected].

SOURCE Reflect Orbital

Altira Group and Aramco Ventures lead funding to accelerate ongoing enterprise growth and company expansion with NEA, KDT, and Activant

SAN FRANCISCO, May 14, 2025 — Arkestro, the premier Predictive Procurement Platform accelerating enterprise spend transformation, today announced a strategic investment totaling $36M. The investment was led by Altira Group and Aramco Ventures, with participation from existing investors NEA, KDT, and Activant. The investment will accelerate Arkestro’s ongoing innovation in AI-powered procurement technology, advancing its mission to help enterprises unlock hidden savings, reduce supply chain risk, and drive operational efficiency—empowering procurement teams to focus on strategic, high-impact initiatives.

Arkestro’s Predictive Procurement Platform leverages AI, behavioral science, and game theory to accelerate procurement cycles, enhance supplier collaboration, and drive an average of 18.8% cost savings on every $1M of spend. By integrating Arkestro’s patented three sciences: Negotiation Science, Supplier Science, and Process Science, the platform empowers procurement teams to proactively shape procurement outcomes rather than react to supplier quotes. Through their investment, Altira Group and Aramco Ventures support Arkestro’s global growth efforts and recognizes its predictive procurement technology’s ability to reduce risk and enhance supply chain resilience.

“Arkestro cuts through the noise with a pragmatic application of AI technology that gives procurement experts superhuman-like capabilities and reinforces their role as a strategic lever for the enterprise,” said J.P. Bauman, Partner at Altira Group, who has joined Arkestro’s board of directors. “Our seven leading oil & gas partners—together with our co-investors at Aramco Ventures—represent hundreds of billions in procurement spend annually. We’re proud to support Arkestro’s leadership and scaling across the energy and broader industrial markets.”

“Aramco Ventures invests in disruptive technologies that redefine industries, and Arkestro’s Predictive Procurement Platform is doing just that,” said Bruce Niven, Executive MD and Head of Strategic Venturing at Aramco Ventures. “Arkestro’s approach is transforming procurement into a proactive, strategic function that delivers measurable financial impact. We’re excited to support their growth and help drive the next generation of supply chain innovation.”

“This strategic investment from Altira Group and Aramco Ventures is a testament to the growing demand for predictive procurement technology that leverages AI and behavioral science to transform supply chain processes,” said Rob DeSantis, CEO and Co-Founder of Arkestro. “Procurement teams today are navigating increasingly complex, global challenges, yet legacy processes continue to slow decision-making and leave cost savings untapped. With Altira Group and Aramco Ventures’ support, we will expand our capabilities and bring predictive procurement transformation to even more enterprises looking to drive profitability and resilience in their supply chains. Arkestro enables procurement teams to serve as a revenue-driving function of the business rather than a cost center, and we’re excited to extend our impact even further with this investment.”

In the past year, Arkestro has rapidly expanded its customer base, with industry leaders—including Fortune 500 manufacturers, energy companies, and global supply chain organizations—using its Predictive Procurement platform to accelerate decision-making, strengthen supplier partnerships, and maximize cost savings.

About Arkestro

Arkestro’s Predictive Procurement Platform accelerates enterprise spend transformation to unlock trapped savings and reduce risk, enabling teams to influence significantly more spend. By combining AI and game theory with Arkestro’s patented three science technology,  Negotiation Science, Supplier Science, and Process Science, procurement teams can improve win rates while strengthening supply chain agility. Trusted by Fortune 500 companies across industries, Arkestro shifts traditional procurement to become a proactive, results-driven function—eliminating inefficiencies, optimizing negotiations, and enhancing supplier collaboration.

Arkestro has been recognized for its industry leadership, including being named a Sample Vendor for Autonomous Sourcing, Autonomous Procurement, and Supplier Discovery in Gartner’s 2024 Hype Cycle, and a Top Tech – Sourcing provider in the Fall 2024 SolutionMap. Learn more at www.arkestro.com.

About Altira Group

Altira Group is a Denver-based venture capital firm that has invested in advanced technology solutions across the energy and industrial value chain for over 28 years.  In partnership with its Fund VII oil & gas company limited partners, Altira enables the next generation of industrial technologies—driving innovation across digital, automation, and core operations.  Beyond capital, Altira actively partners with entrepreneurs to scale their businesses, while also providing direct customer access, real-world validation, and collaborative go-to-market support through its strategic industry relationships.  This differentiated model compresses adoption cycles, enhances company resilience, and delivers stronger investment outcomes.  Learn more at www.altiragroup.com.

About Aramco Ventures

Aramco Ventures is the corporate venturing arm of Aramco, the world’s leading fully integrated energy and chemical enterprise. Headquartered in Dhahran with offices in North America, Europe, and Asia, Aramco Ventures’ strategic venturing programs invest globally in start-up and high growth companies with technologies of strategic importance to its parent company, Aramco, primarily supporting its operational decarbonisation, new lower-carbon fuels businesses, and digital transformation initiatives. Aramco Ventures also operates Prosperity7, the company’s disruptive technologies investment program. For more information, please visit www.aramcoventures.com.

Arkestro Press Contact:
Tiffani Lee-Zhang
[email protected]

SOURCE Arkestro

As enterprises rush to deploy AI, Openlayer helps ensure these systems are evaluated and
accountable before and after launch.

SAN FRANCISCO, May 14, 2025 — Today, Openlayer, a unified platform for evaluation and governance of AI systems at the enterprise level, announced a $14.5 million Series A round, led by Race Capital with participation from NXTP, KPN Ventures, Mindset, Y Combinator, Quiet Capital, and Telefonica. The company will focus the new investment to expand enterprise-grade product capabilities and scale go-to-market efforts across key industries and global markets.

“The rate of AI adoption is accelerating rapidly, with teams integrating AI into more mission-critical aspects of their business,” said Gabriel Bayomi, CEO and cofounder of Openlayer. “When enterprises deploy AI, there’s no room for error, especially in customer-facing applications. A single failure can erode trust, disrupt lives, or lead to legal and reputational fallout. That’s why robust evaluation, observability, and governance aren’t optional – they’re foundational to responsible AI deployment.”

In the current AI climate, companies need the tooling and processes to build and deploy applications reliably. Explosive growth is an incredible opportunity, but moving too fast without proper governance can have serious consequences to a business and the end users of these applications. Openlayer gives enterprises a unified platform to take their AI applications from prototype to production, delivering speed while also ensuring accuracy by spotting and guarding against any weakness.

“Openlayer’s development velocity has been among the fastest in our portfolio – growing nearly 5x in 2024 and on pace to match that this year,” said Chris McCann, Managing Partner at Race Capital. “Their platform is becoming essential for enterprises that need to move fast without compromising reliability in their AI infrastructure.”

Founded by Gabriel Bayomi, Rishab Ramanathan, and Vikas Nair, Openlayer provides a unified platform that supports AI teams across the entire development lifecycle—from early experimentation to production deployment. Designed for both traditional machine learning and emerging GenAI systems, Openlayer enables teams to address everything from data-quality issues to complex model evaluation and governance, all within a single workflow.

“Openlayer has a world-class engineering team that ships new integrations and features every week,” said Dror Avrilingi, Head of QE, Data & AI Studios at Amdocs. “On top of that, the platform is built for collaboration, and even non-technical stakeholders can easily participate in helping ensure products are delivering on their intended promise.” 

Openlayer is the only native unified platform for ML and LLM evaluation, offering true multimodal testing, real-time monitoring, and automated governance that fits seamlessly into enterprise workflows. For more information, visit https://www.openlayer.com/

About Openlayer
Built for enterprise teams deploying everything from traditional ML to Generative AI, Openlayer helps organizations test, monitor, and govern their AI systems with confidence. Founded by Gabriel Bayomi, Vikas Nair, and Rishab Ramanathan, Openlayer is trusted by enterprise companies to operationalize safe, reliable, and responsible AI. For more information, please visit https://www.openlayer.com/. 

SOURCE Openlayer

CHATTANOOGA, Tenn., May 14, 2025 — Dynamo Ventures announced the close of its third fund at $54 million, more than tripling the size of its inaugural fund. The raise underscores Dynamo’s focus on supporting early-stage founders who are reimagining the way the world’s goods are made, moved, and monetized — across supply chains, logistics, and the foundational industries that power the global economy.

The milestone coincides with another significant development: a secondary transaction that provided early liquidity to LPs in Dynamo’s $18 million Fund I (2016). Kline Hill Partners acquired a significant stake in the fund, creating returns over 4x and signaling strong conviction in Dynamo’s portfolio. The transaction unlocked value for investors who backed the firm over eight years ago, with overall performance placing the fund in the top decile of its vintage. While secondaries once signaled distress, they’ve now become a core part of the venture liquidity playbook. According to PitchBook, 71% of exit dollars in 2024 came from secondaries.

“In a market where traditional exits via IPOs and M&A remain sluggish, we’ve embraced creative avenues to generate liquidity,” said Santosh Sankar, General Partner at Dynamo Ventures. “This secondary sale not only validates the strength of our first fund, featuring four fund returners, including unicorns, but also reflects our responsibility to build for the long haul while returning cash to our earliest backers.”

“We’re pleased to provide an interim solution to Dynamo Ventures and its investors, unlocking liquidity for their dedicated pool of limited partners who have supported the firm’s talented team for nearly a decade,” said Chris Bull, Managing Director at Kline Hill Partners. “We believe Dynamo’s portfolio, which includes some very promising assets, is well-positioned to realize its full potential.”

Amid shifting global trade dynamics and growing pressure on legacy infrastructure, Dynamo’s $54 million Fund III arrives at a pivotal moment and launches at a time when innovation in the physical economy has never been more urgent. Rather than chasing hype cycles, Dynamo focuses on sectors where digitization is overdue — manufacturing, logistics, transportation, and commerce infrastructure. The firm brings deep operational expertise and a global network to the table, backing companies like Stord (omnichannel fulfillment and eCommerce technology), Sennder (digital freight brokerage), Gatik (autonomous middle-mile delivery), and Raft (AI-powered freight forwarding operations) that are modernizing the movement of goods and redefining how industries operate at scale.

“We’ve always believed that the supply chain is more than trucks and warehouses—it’s the industrial backbone of the global economy,” said Jon Bradford, Managing Partner. “This fund gives us the firepower to keep backing the most ambitious and relentless founders reimagining how goods move.”

Madelyn O’Farrell has been promoted to Principal in Fund III, recognizing her instrumental role in the firm’s sourcing, selection, and stewardship efforts. The team also welcomes Bola Adegbulu, a seasoned founder and investor, as a Principal.  Bola will complement the team with his experience in incubating and investing at the inception stage in AI native businesses.

Dynamo Ventures

Dynamo Ventures is a pre-seed and seed-stage venture capital firm investing in startups building the future of the industrial economy Dynamo backs relentless founders reimagining how the world makes, moves, and monetizes the world’s goods. Since launching in 2016, Dynamo has built a global network and portfolio of category-defining companies in both North America and around the world. The firm is headquartered in Chattanooga, Tennessee.

Press Contact:
Kathy Osborne
607-434-2065
[email protected]

SOURCE Dynamo Ventures

HOUSTON, May 14, 2025 — Persona AI, a leader in embodied artificial intelligence, today announced it has closed its oversubscribed pre-seed funding round, raising $27 million. This substantial investment will accelerate the development and deployment of Persona’s humanoid robot platform, engineered for demanding tasks in shipbuilding and industrial manufacturing. Designed to address critical labor shortages and enhance workplace safety, Persona’s robots will support supply chain resiliency in economically vital global industries. Persona AI has already signed an agreement with HD Hyundai, the global leader in shipbuilding, to deploy humanoid robots into shipyards, with initial delivery expected within 18 months.

Founded in 2024 by robotics veterans Nic Radford (CEO), Jerry Pratt (CTO), and Jide Akinyode (COO), Persona will deliver purpose-built humanoid robots for physically demanding environments, combining industrial-grade precision and human-like dexterity. The robotics-as-a-service (RaaS) business model eliminates the need for large upfront capital investments from clients.

We’re deeply grateful to our investors, not just for capital, but for their conviction in a bold vision,” said Radford. “These partners understand the scale and transformative potential of humanoid robot labor. This level of commitment reflects the magnitude of the opportunity and a trust in what we’re pursuing which we don’t take lightly.”

“In the field of humanoid robotics, Persona stands out for tackling the most challenging problems in industrial labor,” said Shankar Gupta Boddu, Unity Growth General Partner. “Their mission goes beyond automation, they’re working towards building a safer and more efficient workplace.”

Mike Loretz, General Partner at Tides Ventures, added, “We’re proud to back Persona pushing the boundaries of humanoid robotics. Their early traction with global leaders like HD Hyundai signals massive opportunity, and we’re excited to support their bold industrial automation vision.”

The round was co-led by Unity Growth and Tides Ventures, with participation from Mirae Asset Group, Invicta Growth, Fathom Fund, Embedded Ventures, Wave Function Ventures, Zero Infinity Partners, dConstruct Technologies, Goose Capital, SGH, Sound Media Ventures, Kalea Ventures, K50 Ventures, Cofounder Ventures, Tola Capital, SGA Capital, and Olive Hill Ventures, and K2 Global.

According to Morgan Stanley, the market for humanoid labor could reach $3 trillion in the US alone, driven by advancements in AI and the global demand for intelligent automation that mirrors human capabilities.

For media inquiries, please contact:
Katherine Garcia
Director of Executive Affairs
[email protected] 

SOURCE Persona AI Inc

New investment accelerates Cohere’s reach into broader clinical workflows and reinforces its market leadership in prior authorization transformation

BOSTON, May 14, 2025 — Cohere Health^®, the leader in clinical intelligence solutions for health plans and risk-bearing providers, today announced it has raised $90 million in Series C funding. The round was led by Temasek, with continued support from Deerfield Management, Define Ventures, Flare Capital Partners, Longitude Capital, and Polaris Partners. This new investment brings Cohere’s total funding to $200 million.

The new investment will accelerate Cohere’s next phase of growth, scaling the Cohere Unify^™ platform, expanding into new clinical use cases, and deepening investment in its AI-powered product portfolio. Cohere Unify enables critical collaboration points between health plans and providers, and modernizes utilization management (UM) by personalizing provider workflows and optimizing engagement through real-time performance data. Together, these capabilities lay the foundation for Cohere’s broader vision of transforming clinical decision-making.

“Our mission has always been simple: to help people receive the right care at the right time, in the right place, and with the right value,” said Siva Namasivayam, CEO and co-founder of Cohere Health. “This funding is a catalyst to drive Cohere’s growth, expanding our industry-leading UM expertise into new use cases, scaling our operations, and allowing us to continue to transform how plans and providers collaborate to deliver care in ways that truly differentiate us.”

As AI’s role in healthcare continues to draw scrutiny, Cohere’s clinician-led model and responsible AI-first approach ensure that clinical expertise remains at the core of every solution the company develops. This strategy underpins the company’s commitment to innovation, accuracy, and accountability, offering a responsible and transparent model for healthcare automation. Cohere’s platform delivers measurable administrative and clinical efficiencies to streamline the authorization of pending services, reducing provider friction, accelerating time to care, and ultimately helping improve outcomes for health plan members. The platform’s precision clinical insights mean up to 90% of requests can be auto-approved, helping providers spend less time on paperwork and more time with patients, and allowing for deeper collaboration between physicians and health plans on critical cases.

“Since the founding of the company, we have believed Cohere’s approach to AI is distinctive because it brings real clinical intelligence to the table,” said Michael Greeley, Co-Founder & General Partner at Flare Capital Partners. “As the pioneer of the clinical intelligence category, they are not just digitizing an outdated system — they have reimagined prior authorization from the ground up to fundamentally change how clinical decisions are made by facilitating how plans and providers collaborate and incorporate best clinical evidence and guidelines. They have achieved an impressive 93% provider satisfaction rating and have dominated this category. The platform is well-positioned to serve other areas of the healthcare ecosystem. It has been gratifying to watch the company scale, and we are excited to continue our support for Cohere’s next chapter.”

Over the past year, Cohere Health expanded its client base, strengthened its executive leadership team, and deepened platform adoption across the healthcare sector. The company currently processes more than 12 million prior authorization requests annually for more than 600,000 providers nationwide. Additionally, Gartner, LinkedIn, and KLAS have recognized Cohere’s contributions to advancing clinical intelligence, healthcare automation, and collaboration, reflecting its growing influence and sustained innovation in the field.

Looking ahead, Cohere is committed to leading healthcare in places where clinical insight drives decision-making with transparency, responsibility, and a steadfast focus on improving member care.

About Cohere Health
Cohere Health is a clinical intelligence company delivering AI-powered prior authorization solutions that streamline access to quality care by improving collaboration between physicians and health plans. Cohere works with nearly 600,000 providers and processes over 12 million prior authorization requests annually. Its AI auto-approves up to 90% of requests for millions of health plan members. Cohere has been recognized in the Gartner^® Hype Cycle^™ for U.S. Healthcare Payers, named a Top 5 LinkedIn^™ Startup in 2023 and 2024, and is a three-time KLAS Points of Light award recipient.

Media Contact
Kat Long
308.627.6897
[email protected]

SOURCE Cohere Health