• Proceeds to drive global Phase 3 trial for ASP-1929, targeting BLA submission to the U.S. FDA in 2028
• Financing led by international life science fund TaiAx, with participation from the largest number of institutional investors in Rakuten Medical’s history, alongside strategic partners and current investors

SAN DIEGO, Jan. 7, 2026 — Rakuten Medical, Inc., a global biotechnology company developing and commercializing its proprietary Alluminox^® platform-based photoimmunotherapy, today announced the closing of a $100 million Series F financing round. This includes $70 million in new capital and the conversion of $30 million in convertible promissory notes with accrued interest.

This upsized financing doubles Rakuten Medical’s initial target, underscoring strong investor confidence in its execution capabilities and the potential of the investigational Alluminox platform-based photoimmunotherapy, an innovative cancer treatment modality.

Toward U.S. Approval of ASP-1929
Rakuten Medical will utilize the Series F proceeds to advance its top priority: securing U.S. regulatory approval for ASP-1929, Rakuten Medical’s designation for its first investigational photoimmunotherapy drug. The company is currently enrolling patients into its global Phase 3 trial (ASP-1929-381, NCT06699212), evaluating ASP-1929 photoimmunotherapy in combination with pembrolizumab as a first-line therapy for recurrent head and neck cancer. The proceeds will allow Rakuten Medical to strengthen its operational capabilities to accelerate enrollment in the U.S., Taiwan, Japan, Ukraine and Poland. Based on trial results, Rakuten Medical aims to submit a Biologics License Application (BLA) to the U.S. FDA in 2028.

Global Expansion and Broader Clinical Development
Rakuten Medical is leveraging the regulatory dossier submitted in Japan for its approved drug Akalux^® (ASP-1929) and the BioBlade^® Laser System device, along with post-market real-world data, to supplement its efforts in seeking approvals in additional countries. With support from strategic partners who have deep expertise in regional regulatory environments, the company aims to accelerate these efforts.

Disclaimer: Rakuten Medical’s Alluminox^® platform-based photoimmunotherapy is investigational outside Japan.

In parallel, Rakuten Medical is expanding development beyond head and neck cancer through internal programs and support for investigator-initiated trials (IITs). These studies will utilize grants and other funding sources to ensure efficient progress. Additionally, the company will continue driving commercial growth of ASP-1929 photoimmunotherapy for head and neck cancer in Japan, both to expand profitability for the Japan entity and to establish a reliable funding engine to fuel global expansion.

Development Program Beyond Head and Neck Cancer

• Solid tumors (including malignant skin tumors): Initiate Phase 1 trial of RM-0256 photoimmunotherapy in Japan in Q2 2026, supported by AMED¹ grant funding.
• Esophageal and gynecologic cancers: Support two ongoing IITs of ASP-1929 photoimmunotherapy in Japan; the gynecologic cancer IIT is supported by AMED funding.
• Pancreatic and non-small cell lung cancers: Support two planned IITs of ASP-1929 photoimmunotherapy in the U.S., potentially supported by external grants

International Composition of Investors
The Series F round was led by TaiAx Life Science Fund L.P. (TaiAx), an international life science venture capital fund. TaiAx was jointly established by Taiwania Capital Management, based in Taipei, Taiwan, and Axil Capital Group, based in Tokyo, Japan.

The round included the largest institutional investor group in company history, including major Japanese financial institutions—Daiwa Securities, Mitsui Sumitomo Insurance, Sumitomo Mitsui Banking—and Taiwanese venture firms ABIES Capital and Nexus CVC. Strategic partner OEP Group also joined, along with existing investors, including SBI Group, Rakuten Group, Inc. and Mickey Mikitani, Rakuten Group Chairman and CEO and Rakuten Medical CEO.

This round creates an exceptionally diverse investor base for Rakuten Medical, anchored in key global markets: the U.S., Japan and Taiwan.

Mickey Mikitani, CEO of Rakuten Medical, commented:
“Securing significant investment from leading life science investors underscores the strength of our technology and the excellence of our team. The Alluminox^® platform underlines a new treatment modality that requires advanced expertise in both drug development and medical device technology. Rakuten Medical is tightly focused and mission driven, having successfully developed, received approval for and commercialized an innovative therapy in 15 years. This financing will enable us to accelerate clinical development, expand our global reach and prepare for the next phase of growth.”

Michael Huang, Managing Partner of Taiwania Capital Management, commented:
“This oversubscribed Series F financing reflects our strong conviction in Rakuten Medical’s differentiated technology and its ability to address profound unmet medical needs. We are thrilled to lead this round and to form a strong, like-minded global syndicate united by a shared vision to advance the future of cancer care.”

Notes
1. Japan Agency for Medical Research and Development (AMED)

About the Alluminox^® Platform
The Alluminox^® platform is Rakuten Medical’s investigational technology that combines pharmaceuticals, medical devices, medical technology and other peripheral technologies. Rakuten Medical is developing Alluminox platform-based photoimmunotherapy, which involves two key steps: 1) drug administration, and 2) targeted illumination using medical devices. The drug component consists of a cell-targeting moiety conjugated to a light-activatable dye, such as IRDye^® 700DX (IR700), that selectively binds to the surface of targeted cells, such as tumor cells. The device component consists of a light source that locally illuminates the targeted cells with red light (690 nm) to transiently activate the drug. Rakuten Medical’s preclinical data have shown that this activation elicits rapid and selective necrosis of targeted cells through a biophysical process that compromises the membrane integrity of the targeted cells. Therapies developed on the Alluminox platform may also result in local and systemic innate and adaptive immune activation due to immunogenic cell death of the targeted tumor cells and/or the removal of targeted immunosuppressive cells within the tumor microenvironment. Photoimmunotherapy was originally developed by Dr. Hisataka Kobayashi and his team at the National Cancer Institute in the United States. Outside Japan, Rakuten Medical’s Alluminox platform-based photoimmunotherapy is investigational.

About ASP-1929
Rakuten Medical’s first pipeline drug developed on its Alluminox^® platform is ASP-1929, an antibody-dye conjugate comprised of the anti-epidermal growth factor receptor (EGFR) antibody cetuximab and IRDye^® 700DX, a light activatable dye. ASP-1929 binds to EGFR, a cancer antigen expressed in multiple types of solid tumors, including head and neck, breast, lung, colorectal, prostate and pancreatic cancers. After binding to cancer cells, ASP-1929 is locally activated by illumination with red light (690 nm), emitted by a laser device system to produce a photochemical reaction. This reaction is believed to cause damage to the membrane of cancer cells, leading to selective necrosis of cancer cells. In Japan, ASP-1929 received marketing approval from the Japanese Ministry of Health, Labor, and Welfare for unresectable locally advanced or recurrent head and neck cancer in September 2020, under the Sakigake Designation System and the Conditional Early Approval System. ASP-1929 photoimmunotherapy in combination with pembrolizumab is currently under investigation in a global Phase 3 clinical trial as a first-line therapy for recurrent head and neck cancer. Outside Japan, ASP-1929 has not yet been approved for commercial use by any regulatory authority.

About TaiAx
TaiAx Life Science Fund L.P. is a venture capital fund dedicated to advancing innovative technologies in the life sciences sector. The fund was established as a joint venture between Taiwania Capital, a Taiwan national investment company, and Axil Capital, a Japanese venture capital firm supported by the Mizuho Group. TaiAx’s investment focus broadly covers first-in-class therapeutics, gene and cell therapies and AI-driven medical products, among other novel technologies addressing unmet medical needs. The TaiAx team is actively evaluating investment opportunities globally, with a particular focus on Taiwan, Japan and North America.

About Rakuten Medical, Inc.
Rakuten Medical, Inc. is a global biotechnology company developing and commercializing its Alluminox^® platform-based photoimmunotherapy, which has been shown to induce rapid and selective cell killing. Rakuten Medical’s photoimmunotherapy is currently investigational outside Japan. Rakuten Medical is committed to its mission to conquer cancer by developing its pioneering treatments as quickly as possible to as many patients as possible all over the world. The company has offices in five countries/regions, including the United States, where it is headquartered, Japan, Taiwan, Switzerland and India. For more information, visit www.rakuten-med.com.

Forward Looking Statements
This press release contains forward-looking statements. These statements speak only as of the date of this press release and are subject to a number of risks, uncertainties, and assumptions that may cause Rakuten Medical’s business plans and results to differ from the anticipated results and expectations expressed in these statements. These “forward looking statements” contain information about the plans, status and development of our research, clinical trials and products, including the Alluminox^® platform, combination therapies, product and developmental candidates and related medical devices, as well as our commercial activities, other regulatory and marketing authorization efforts; the potential benefits, efficacy, and safety of our product candidates or other therapies created using the Alluminox platform, and the status, plans and timing of regulatory filings and approvals therefor; plans to advance other pipeline product candidates or discovery efforts; the Company’s ability to leverage learnings from experiences in ASP-1929 photoimmunotherapy; and the intended use of proceeds from the financing. The approval and commercial success of any of our products or product candidates may not be achieved. Such statements may include words such as “expect,” “believe,” “hope,” “estimate,” “looks as though,” “anticipate,” “intend,” “may,” “suggest,” “plan,” “target,” “contemplate,” “predict,” “potential,” “continue,” “strategy,” “will,” and “do”, and are based on our current beliefs. In addition, this press release uses terms such as “important,” “notable,” and “abnormal” to express opinions about clinical trial data. Ongoing clinical trial studies include various risks and uncertainties, in particular, problems that arise during the manufacturing stage of our therapies, the occurrence of adverse safety events and situations and failure to demonstrate therapeutic benefits, and other various risks and uncertainties, both reasonable and unreasonable. For this reason, actual results, including regulatory approvals and uncertainties in the commercialization process of our therapies, may differ from published information. Except to the extent required by applicable law, we undertake no obligation to publicly update this or any other forward-looking statement, whether because of new information, future developments or events, changes in assumptions, changes in the factors affecting forward-looking statements. If one or more forward-looking statement(s) is updated, no inference should be drawn that additional updates will be made to those or other forward-looking statements.

Contact Us

SOURCE Rakuten Medical, Inc.

Series B Co-led by New Investors Amplitude Ventures and ICG

MTX-474 Global Phase 2a study Initiated in Systemic Sclerosis (SSc)

MTX-463 Global Phase 2a Study in Idiopathic Pulmonary Fibrosis (IPF) Enrolling & Partnered with Lilly

MTX-439 Advancing to Phase 1 studies for Fibrosis Associated with Chronic Kidney Disease (CKD)

BOSTON, Jan. 7, 2026 — Mediar Therapeutics, Inc., a clinical-stage biotechnology company advancing first-in-class therapies designed to halt fibrosis, today announced an oversubscribed $76 million Series B financing co-led by Amplitude Ventures and ICG, with participation from new investors Longwood Fund, Asahi Kasei Pharma Ventures, Alexandria Real Estate Trust (ARE), and existing Series A investors. Joining the Mediar board from Amplitude Ventures is Bharat Srinivasa, PhD, and from ICG is Allan Marchington, PhD. Proceeds from the financing will further support advancement of Mediar’s wholly owned assets, including MTX-474, an antagonist of EphrinB2, being studied in a Phase 2a study in patients with systemic sclerosis (SSc), and MTX-439, a SMOC2 antagonist, proceeding to Phase 1 studies for the treatment of chronic kidney disease (CKD) associated fibrosis.

“It has been a transformative 12 months for Mediar, from our deal with Eli Lilly and Company on MTX-463, to this oversubscribed Series B financing with leading biotech investors,” said Rahul Ballal, PhD, Chief Executive Officer of Mediar Therapeutics. “With $175 million raised through these transactions, we can advance our novel anti-fibrotics through clinical studies and potentially bring life-changing therapies to patients suffering from fibrosing diseases of the skin, lung, and kidney. I would like to take this moment to thank our entire Mediar team for their dedication and demonstration that direct targeting of the myofibroblast holds promise to halt fibrosis.”

The company has initiated the EncompaSSc trial, a randomized, double-blinded, placebo-controlled 24-week Phase 2a study designed to evaluate the efficacy, safety, and tolerability of MTX-474 in approximately 90 patients living with SSc, using the validated mRSS (Modified Rodnan Skin Score) tool, as the primary endpoint.

“The EncompaSSc study marks an important milestone in our effort to bring new treatment options to patients living with SSc,” said Lorinda Chung, MD, MS, Global Principal Investigator of the trial and professor of Medicine and Dermatology at Stanford Medicine. “Emerging research shows that EphrinB2 signaling may contribute to the progression of fibrosis in multiple organ systems impacted by systemic sclerosis. These patients have a large unmet need, and this Phase 2a trial will allow us to evaluate MTX-474’s potential to treat patients suffering with this disease.”

“By addressing the fundamental causes of fibrosis, Mediar is paving the way for transformative clinical advances in the field,” said Allan Marchington, PhD, Head of Life Sciences at ICG. “We are proud to co-lead this financing to accelerate these vital therapies.”

“We are excited about Mediar’s unique approach to targeting fibrosis across multiple organ systems,” added Bharat Srinivasa, PhD, Principal at Amplitude Ventures. “Together, we aim to translate this deep scientific understanding into novel therapies that positively impact patient lives.”

The company is also finalizing an IND-enabling package for MTX-439, a SMOC2 antagonist, for the treatment of fibrosis associated with chronic kidney disease (CKD), with plans to initiate Phase 1 studies in the first half of 2026.

About MTX-474

MTX-474 is a first-in-class human IgG1 antibody designed to neutralize the EphrinB2 signaling that causes the onset and progression of fibrosis. Ephrin ligands and Eph receptors mediate biological processes involved in tissue fibrosis including cell migration, myofibroblast activation, and tissue remodeling. A growing body of evidence has implicated EphrinB2 in the fibrosis of the skin, lungs, and heart. Expression of EphrinB2 and its receptors are measurable in human blood and correlates with disease severity. A Phase 1 study was recently completed and a Phase 2 clinical study in patients with SSc is now open (NCT07287670). More information can be found at www.encompassctrial.com

About MTX-463

MTX-463 is a first-in-class human IgG1 antibody developed against WNT1-inducible signaling pathway protein-1 (WISP1). WISP1 is a secreted matricellular protein shown to have a relevant role in fibrosis progression, is measurable in human blood, and correlates with disease severity. Data indicates that MTX-463 neutralizes WISP1-mediated fibrotic signaling and significantly reduced fibrosis in vitro and in various preclinical models. A Phase 1 study was recently completed and a Phase 2 study in patients with IPF is now open (NCT06967805). More information can be found at: www.wispertrial.com

About MTX-439

MTX-439 is a first-in-class human IgG1 antibody engineered to inhibit the activity of SPARC-related modular calcium-binding protein 2 (SMOC2). SMOC2 has been shown to promote extracellular matrix assembly and cell adhesiveness. SMOC2 is a driver of renal fibrosis and SMOC2 levels are elevated in patients with chronic kidney disease, both in the tissue and in circulation. MTX-439 selectively binds to SMOC2 and neutralizes its activity significantly reducing fibrosis in multiple preclinical models. MTX-439 is anticipated to enter Phase 1 studies in the first half of 2026.

About Mediar Therapeutics

Mediar Therapeutics is pioneering a new approach to fibrosis treatment that aims to halt the disease at a different source – the myofibroblast, the key pathogenic cell in fibrosis that drives scarring, disease progression, and ultimately organ failure. Mediar was founded based on a deep understanding of the complex science underlying fibrosis progression. By combining novel targets with reliable, easily detectable blood biomarkers and familiar modalities, Mediar’s goal is to bring forward novel anti-fibrotic therapies that potentially have a precision medicine approach. For more information, contact [email protected] or follow us on LinkedIn.

Media Contact
[email protected]

SOURCE Mediar Therapeutics

• Seasoned executive with extensive board experience across US and European biotechnology companies
• Brings extensive operational, strategic and transactional expertise as AstronauTx advances its innovative pipeline targeting improvements in sleep architecture to treat neurodegenerative diseases

LONDON, Jan. 7, 2026 — AstronauTx Ltd (“AstronauTx”), a biotechnology company developing therapeutics to treat Alzheimer’s Disease and other neurological disorders by improving sleep architecture, today announces the appointment of Adam Rosenberg as Chair of its Board of Directors.

Adam is an accomplished biotech executive and director with a proven track record spanning more than two decades in company building across the life sciences industry. He has co-founded and led several successful biotechs, overseeing multiple high-value partnerships and acquisitions with global pharmaceutical companies, and has served as Chair or independent director on multiple venture-backed and public company boards.

Adam brings substantial expertise in both CEO and director roles for companies dedicated to the research and development of therapeutics to treat central nervous system disorders.  Adam was CEO at Aliada Therapeutics, Athenen Therapeutics, Link Medicine, Rodin Therapeutics and Teleos Therapeutics, all focused on neuroscience. Adam was also founding CEO at Sionna Therapeutics. He is currently CEO of RyCarma Therapeutics, and Chair of Seamless Therapeutics and VectorY Therapeutics.

Jane Rhodes, Chief Executive Officer of AstronauTx, said: “Adam’s deep experience in building successful neuroscience companies and leading strategic transactions will be invaluable as AstronauTx enters its next phase of growth. His insight and leadership come at a pivotal time as we progress our programmes toward the clinic and continue to strengthen our position as pioneers developing therapeutics at the intersection of sleep physiology and neurodegenerative disease.” 

“I would also like to pay tribute to Tim Edwards and thank him for his important contribution to the creation and development of AstronauTx over the last several years, and to wish him well in his future endeavours.”

Adam Rosenberg, new Chair of AstronauTx’s Board of Directors, commented: “There is increasing awareness around the importance of sleep quality in relation to cognitive function and disease progression. AstronauTx’s focus on sleep as a therapeutic entry point for neurodegenerative diseases has the potential to transform how we treat Alzheimer’s and other neurological conditions, and I’m excited to work with Jane and the team to help drive the Company’s continued growth.” 

About AstronauTx Ltd

AstronauTx’s approach is grounded in a combination of well-defined, quantifiable biological endpoints, such as EEG-based sleep architecture metrics and measurable improvements in cognitive function and glymphatic flow, and a data-led strategy that integrates advanced analytics. By mining large-scale, high-quality EEG, the company aims to precisely quantify sleep architecture and therapeutic impact, enabling the identification of subtle patterns and biomarkers and a refined understanding into how slow wave sleep modulation influences cognitive outcomes and disease progression.

Founded by SV Health’s Dementia Discovery Fund, AstronauTx completed a £48 million/$61 million Series A financing in October 2023, led by the Novartis Venture Fund, with participation from SV’s Dementia Discovery Fund, MPM BioImpact, Brandon Capital, EQT Life Sciences and Bristol Myers Squibb.

SOURCE AstronauTx

STOCKHOLM, Jan. 7, 2026 — Sigrid, a Swedish innovation-driven consumer health company advancing metabolic health through non-systemic science, today announced a USD 5 million fundraise, bringing total capital raised to approximately USD 27 million. Participation from both existing and new international investors reflects strong confidence in Sigrid’s clinically validated platform and its accelerating commercial momentum in the United States.

As metabolic health becomes a global priority, consumers, patients, and clinicians are increasingly seeking practical, science-backed solutions that deliver measurable impact on blood sugar and weight. Sigrid’s dietary supplement, Glucose Stabiliser, is seeing rapid adoption across direct-to-consumer channels and a growing U.S. physician network. Over the past twelve months, Glucose Stabiliser has delivered more than 3× revenue growth, underscoring strong product-market fit and repeat usage in a fast-growing category.

“We’re seeing a fundamental shift in how people approach metabolic health,” said Sana Alajmovic, Co-Founder and CEO of Sigrid. “Blood sugar control and sustainable weight management have become top priorities, and expectations for clinically validated solutions are rising. With one of the most well-validated non-systemic platform technologies in the category, Sigrid is uniquely positioned to meet this demand. This investment allows us to accelerate our U.S. expansion while advancing new verticals powered by our SiPore® technology.”

Fueling Regulatory Progress and Platform Expansion

Following the successful submission of its technical file for CE-mark approval in the EU, Sigrid is progressing toward authorization of a first-of-its-kind over-the-counter medical device intended to support weight reduction and metabolic health in adults living with excess weight and elevated blood sugar, as part of a structured lifestyle management program.

In parallel, Sigrid is expanding the SiPore® platform beyond metabolic health, unlocking future growth opportunities in oral care, veterinary health, and food technology. The company is currently engaged in active partnership discussions with leading consumer health, nutrition, and pharmaceutical organizations for licensing and distribution, enabling global brands to bring SiPore®-powered innovation to millions of consumers worldwide.

About Sigrid

Sigrid is a Swedish medtech and consumer health company transforming metabolic health through non-systemic, clinically validated technologies. Powered by more than 15 years of research, Sigrid’s patented SiPore® technologyworks mechanically in the gut without entering the body. The SiPore® platform enables safe, scalable solutions for everyday glucose and weight management, and serves as the foundation for innovation across oral health, veterinary care, and food technology. https://www.sigridthx.com

Contact:
Sana Alajmovic
Co-founder & CEO
SIGRID
[email protected]
+46 723 893 396

SOURCE Sigrid

NEW YORK, Jan. 6, 2026 — CRH Ventures, the venture capital unit of CRH, today announced a strategic investment in Citylogix, a North American leader in AI-powered pavement condition assessments and enterprise asset management software.

Founded in 2015, Citylogix’s platform uses LiDAR, high-definition cameras, and advanced machine learning to generate digital twins of roadways, providing actionable insights for municipal and infrastructure stakeholders. With this partnership, Citylogix will be able to further expand its technology, which already serves more than 450 government entities throughout North America, enabling them to optimize maintenance, extend asset life, and make data-driven investment decisions.

“As the leading road paver in North America, this investment supports CRH’s commitment to deliver smarter, more sustainable infrastructure solutions,” said Eduardo Gomez, Head of CRH Ventures. “Citylogix’s technology and team are at the forefront of digital transformation in road asset management and will play a pivotal role in helping to shape the roads of the future.”

Jon-Erik Dillon, Citylogix CEO added: “We are excited to join forces with CRH Ventures, whose global reach and deep expertise in infrastructure will help us accelerate our impact. This partnership will enable us to scale our technology, enhance our platform, and better serve the needs of cities and towns as they modernize their road networks.”

About CRH Ventures

CRH Ventures is the venture capital unit of CRH, the leading global provider of building materials. With access to CRH’s Venturing and Innovation Fund, CRH Ventures partners with and invests ambitiously and strategically in ConTech and ClimateTech start-ups across the entire construction value chain. For more information, visit www.crhventures.com.

About CRH

CRH (NYSE: CRH) is the leading provider of building materials critical to modernizing infrastructure. With our team of 80,000 people across 4,000 locations, our unmatched scale, connected portfolio, and deep local relationships make us the partner of choice for transportation, water, and reindustrialization projects, shaping communities for a better tomorrow. CRH is a member of the S&P 500 Index. For more information, visit www.crh.com.

About Citylogix

Citylogix is a leading SaaS company specializing in AI-powered pavement condition assessment, roadway asset digitization, and asset management. Its platform enables municipalities to create digital twins of their road networks, optimize maintenance planning, and extend the life of critical infrastructure assets. Since 2015, Citylogix has served over 450 municipalities and counties across North America. Learn more at www.citylogix.com.

Forward-Looking Statements

In order to utilize the “Safe Harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, CRH is providing the following cautionary statement.

This press release contains statements that are, or may be deemed to be, forward-looking statements. These forward-looking statements may generally, but not always, be identified by the use of words such as “will”, “anticipates”, “should”, “could”, “would”, “targets”, “aims”, “may”, “continues”, “expects”, “is expected to”, “estimates”, “believes”, “intends” or similar expressions. These forward-looking statements include all matters that are not historical facts or matters of fact at the date of this press release.

In particular, the following are all forward-looking in nature: statements regarding the benefits of the partnership, including the ability to scale the technology and its potential impact on the roads of the future; and statements regarding CRH’s commitment to deliver smarter, more sustainable infrastructure solutions.

By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future and reflect our current expectations and assumptions as to such future events and circumstances that may not prove accurate. You are cautioned not to place undue reliance on any forward-looking statements. These forward-looking statements are made as of the date of this press release. We expressly disclaim any obligation or undertaking to publicly update or revise these forward-looking statements other than as required by applicable law.

A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, certain of which are beyond our control, and which include, among other factors, the risks and uncertainties described under “Risk Factors” in CRH’s 2024 Form 10-K and in its other filings with the SEC.

Logo – https://mma.prnewswire.com/media/2706416/5702524/CRH_Ventures_Logo.jpg

SOURCE CRH Ventures

With AI reaching billions worldwide, LMArena delivers transparent, real-world evaluation of frontier model performance

SAN FRANCISCO, Jan. 6, 2026 — LMArena, the community platform redefining how the world measures the progress of AI, today announced it has raised $150 million in new funding, achieving a post-money valuation of $1.7 billion, nearly triple the valuation following its seed round in May 2025. Funding was led by Felicis and UC Investments (University of California), with participation from Andreessen Horowitz, The House Fund, LDVP, Kleiner Perkins, Lightspeed Venture Partners and Laude Ventures. The raise reflects a shared conviction across the industry: AI cannot scale responsibly without transparent and continuous third-party evaluations.

This investment accelerates LMArena’s mission to measure and advance the frontier of AI for real-world use, enabling developers, researchers, enterprises and everyday users to understand how models behave where it matters most: in practical, everyday tasks. LMArena will use the funding to operate its platform, expand its technical team and strengthen its research capabilities.

“We cannot deploy AI responsibly without knowing how it delivers value to humans,” said Anastasios Angelopoulos, co-founder and CEO of LMArena. “To measure the real utility of AI, we need to put it in the hands of real users. LMArena does exactly this, leveraging feedback from tens of millions of consumers and professionals to set the North Star of the AI industry. Our evaluations use a transparent, open-source methodology to make these insights public for everyone. This funding accelerates the scientific work and community insights that make live evaluation from real users the gold standard for assessing AI in practice.”

LMArena’s community now spans more than 5 million monthly users across 150 countries, who collectively generate more than 60 million conversations every month, allowing for deep analysis of model capabilities in coding, textual reasoning, professional use cases like law or medicine, searching and citing sources, creative tasks like image or video generation, and more. This extraordinary global engagement underscores a clear shift: the world expects AI to be measurable, comparable and accountable to real people. 

“Progress in AI can’t be measured in labs by benchmarks alone. It needs to take into account how real people want to use these systems and what they prefer,” said Peter Deng, general partner at Felicis. “We’re leading this round because LMArena has built the most trusted, reliable, real-world signal of AI performance. They have become essential infrastructure for every lab and enterprise.”

Demand for trustworthy third-party evaluation has surged due to intense competition between AI labs. LMArena works with leading AI labs and enterprises, including OpenAI, Google and xAI, all drawing on LMArena’s evaluations to improve their models for production use cases and user preferences. LMArena earns revenue by providing paid AI evaluation services to AI labs and enterprises that measure model performance for users across economically valuable industries like software engineering, law, medicine, scientific research and more; its first commercial product launched in September 2025. LMArena’s annualized consumption run rate surpassed $30 million in December, less than four months after launching its AI evaluation product.

The company’s strategy is grounded in a core belief: reliable AI requires open standards, methodological rigor and evidence derived from a diverse panel of real users.

“Without a trustworthy way to measure performance, AI can’t be safely scaled,” said Jagdeep Singh Bachher, the University of California’s chief investment officer. “LMArena delivers clarity and confidence for researchers, developers and businesses. As AI adoption accelerates, LMArena’s tools are becoming critical infrastructure.”

About LMArena

LMArena is an open platform where everyone can access and interact with the world’s leading AI models and contribute to AI progress through real-world feedback. Built with scientific rigor and transparency at its core, LMArena enables developers, researchers, knowledge workers and enthusiasts to compare model outputs, uncover performance differences and advance the reliability of AI systems. With a commitment to open access, reproducible methods and diverse human judgment, LMArena is building the foundation for the world to understand, shape and benefit from AI. Learn more at lmarena.ai. 

Contact

[email protected]

SOURCE LMArena

SAN FRANCISCO, Jan. 6, 2026 — H.I.G. Growth Partners (“H.I.G. Growth”), the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $74 billion of capital under management, is pleased to announce the sale of its portfolio company ProsperOps, Inc. (“ProsperOps” or the “Company”), a provider of autonomous cloud cost optimization software, to Flexera, a portfolio company of Thoma Bravo.

Headquartered in Austin, Texas, ProsperOps is a leading FinOps automation platform for cloud cost optimization across Amazon Web Services (“AWS”), Google Cloud Platform, and Microsoft Azure. The Company enables enterprises to manage cloud commitments autonomously, helping finance, engineering, and procurement teams move from manual, recommendation-based workflows to automated savings execution.

H.I.G. Growth Partners invested in ProsperOps in December 2022 and worked closely with management to support the Company’s transformation and to scale its operations. During H.I.G. Growth’s ownership, ProsperOps grew annual recurring revenue more than six-fold and increased EBITDA by more than nine-fold. Over the last three years, ProsperOps has evolved rapidly, expanding from a single-product, single-cloud solution into a multi-product platform supporting all three major cloud service providers, while significantly broadening its addressable market and customer value proposition. The Company now manages approximately $6 billion in annual cloud spend for its customers.

Chris Cochran, CEO and Co-Founder of ProsperOps, said, “ProsperOps was founded on the belief that many of the critical cloud cost optimization use cases, particularly rate optimization, could be delivered through AI-enabled management. As the market matures, customers are asking for more than point solutions; they want unified rate optimization, workload optimization, and cost visibility. With H.I.G.’s help, we significantly scaled the platform and organization, and we are now uniquely positioned to deliver the comprehensive FinOps platform that organizations have been asking for as we enter the next phase with Flexera.”

Ross Hiatt, Managing Director and Head of H.I.G. Growth, said: “Since our investment in ProsperOps, we have been proud to partner with Chris and the broader team to help build a clear leader in FinOps automation. The team’s focus on product innovation, disciplined execution, and customer outcomes has driven exceptional growth and platform expansion. We are proud of what the team has built and believe the Company is well-suited to continue its development within Flexera’s portfolio.”

Albert Koh, Managing Director at H.I.G. Growth, said: “ProsperOps’ evolution over the past several years reflects the power of combining a world-class management team with a clear vision for product innovation. From expanding the platform across all major cloud providers to scaling the organization globally, the Company has consistently executed ahead of expectations. We are grateful for our partnership with Chris and the entire ProsperOps team and we are confident that they will continue to thrive as part of Flexera.”

About ProsperOps

ProsperOps, is the leading FinOps Automation Platform for cloud cost optimization on Amazon Web Services (AWS), Google Cloud, and Microsoft Azure. Eliminating waste and achieving cost savings goals is challenging when cloud usage is dynamic, but commitments are manual. Founded in 2018, the platform automates and synchronizes rate optimization with workload optimization, eliminating waste, reducing costs and risk, and improving efficiency for FinOps teams. With the platform, customers achieve world-class Effective Savings Rates, lower Commitment Lock-In Risk, and maximum flexibility. ProsperOps autonomously manages $6 billion of annual cloud usage and has generated over $3 billion of lifetime savings.

About H.I.G. Growth Partners

H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $74 billion of capital under management.* H.I.G. Growth seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe, and Latin America. H.I.G. Growth Partners considers investments across all industries but focuses on certain high-growth sectors where it has extensive in-house expertise, such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. H.I.G. Growth strives to work closely with its management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting, and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at HIGgrowth.com.

*Based on total capital raised by H.I.G. Capital and its affiliates.

Contact:

Ross Hiatt
Managing Director
[email protected]

Albert Koh
Managing Director
[email protected]

H.I.G. Growth Partners
One Sansome Street
37^th Floor
San Francisco, CA 94104
P: 415.439.5500
higgrowth.com

SOURCE H.I.G. Capital

Growth Investment Led by Maverick Silicon to Disrupt AI and Semiconductor Services

SAN JOSE, Calif., Jan. 6, 2026 — GS Microelectronics U.S., Inc. (GSME) today announced a $35 million Series B round led by Maverick Silicon to expand its semiconductor services platform across advanced packaging, design enablement, and supply chain visibility. This funding follows a landmark year for GSME, reflecting strong confidence in the company’s bold vision and a series of strategic acquisitions that have accelerated growth by integrating specialized talent and methodologies into a unified portfolio.

Maverick Silicon’s backing validates GSME’s position as more than a traditional semiconductor service provider. GSME is redefining the industry by empowering customers through end-to-end supply chain visibility and a groundbreaking design enablement platform. This unified ecosystem integrates advanced packaging, simulation, and supply chain intelligence to accelerate development while ensuring full operational control.

“Partnering with Maverick Silicon is a milestone that reflects the strength of our strategy and the uniqueness of our offerings,” said Farhat Jahangir, President and CEO of GSME. “This funding is more than just capital; it is a vote of confidence in our vision to transform semiconductor services into a transparent, value-driven ecosystem. We are building solutions that are hard to replicate.”

“We are thrilled to lead GSME’s Series B round,” said Manish Muthal, Senior Managing Director at Maverick Silicon. “GSME is charting a new course in the semiconductor industry by combining transparency, innovation, and customer-centric solutions. Their unique approach to supply chain visibility and differentiated offerings positions them as a true disruptor. We believe GSME is building the future of semiconductor services, and we are proud to support their journey.”

Looking ahead at 2026 and beyond, GSME is entering a new era of growth and disruption. Backed by Series B funding, the company is expanding into AI-driven chip design services and advanced workflows, with the specific focus on advanced technology. By bridging consultancy and technical execution, GSME is setting a new global standard for innovation. Several additional acquisitions are in the final stages of the pipeline, to further enhance the company’s growth.

Series B funding will accelerate GSME’s roadmap across three major areas.

• 2.5D/3D Packaging: Scaling advanced packaging & design services, including CoWoS-class architectures, to support AI, HPC, and RF customer requirements.
• AI-Digital Brain: Launching AI agent-based platform with intelligent decision-making for real-time alerts, risk mitigation, yield enhancement, and predictive modeling.
• Strategic Growth: Integrating recently acquired companies including Sinble & Muse into a unified execution engine to enhance design, software, and engineering capabilities.

The company intends to use the proceeds from the funding to accelerate R&D, expand its platform development, and support strategic acquisitions and hiring.

About GSME
GS Microelectronics U.S., Inc. (GSME) is a leading semiconductor solution provider, headquartered in San Jose, California, with a global footprint across Taiwan, Vietnam, and Oman. GSME delivers tailored silicon solutions through cutting-edge technology and expertise. Its services include end-to-end chip design, turnkey manufacturing, quality assurance, and strategic incubation, enabling customers to accelerate innovative products to market.

About Maverick Silicon
Maverick Silicon is a division of Maverick Capital focused exclusively on the semiconductor and computing infrastructure sector. Maverick Capital is an investment adviser founded by Lee S. Ainslie III with over thirty years of operating history.

Contact:
GSME Press Relations
[email protected]
www.gsme.com

SOURCE GS Microelectronics

HILO, Hawaiʻi, Jan. 6, 2026 — Waiākea Hawaiian Volcanic Beverages is excited to welcome Tetairoa McMillan (T-Mac), NFL rising rookie sensation for the Carolina Panthers; Devin Williams, recently signed MLB pitcher for the New York Mets; and Jerami Grant, veteran NBA forward for the Portland Trail Blazers; into the Waiākea ‘ohana as its newest athlete investors & impact partners.

As leaders in their respective sports, McMillan, Williams, and Grant share a common belief that purpose-driven partnerships can create meaningful impact. Their connection to Waiākea reflects alignment with the company’s long-standing commitment: putting people and planet first, and practicing Mālama i ka ‘Āina — the responsibility to care for and respect the land and those it sustains. Each joins the brand in support of its mission to use business as a force for good, helping carry forward what it means to Live Aloha in sport and beyond.

Raised in Waimānalo, Hawai’i, Tetairoa McMillan enters the league as a standout rookie in the 2025 NFL season. Drafted eighth overall, the 2024 Consensus All-American and University of Arizona’s all-time receiving leader has quickly emerged as one of football’s most promising young talents and a leading candidate for 2025 Offensive Rookie of the Year.

McMillan joins fellow investors Devin Williams, two-time MLB All-Star, former NL Rookie of the Year, and newly acquired pitcher for the New York Mets, and Jerami Grant, a 12-year NBA veteran, 2021 Most Improved Player finalist, and 2020 Olympic Gold Medalist. Together, they bring a shared sense of integrity, discipline, and community stewardship that aligns naturally with Waiākea’s mission.

“Waiākea represents the pride of Hawai’i and the power of doing things the right way,” said McMillan. “Investing in a brand that puts culture and purpose first means a lot to me. I am grateful for the chance to be a part of what’s ahead.”

“I am excited to join the Waiākea team and be part of such an amazing brand,” said Williams. “They have built something special, and I am proud to support their continued growth.”

“Before I met the team and learned what the Waiākea company was all about, I was already a big fan of their water. As I have gotten to know the team better, it’s clear that their focus on family, their philanthropic core, and care for the environment make them the perfect partner for me,” said Grant. “I’m so excited to be a part of this company and community.”

As Waiākea grows into 2026, the brand remains committed to intentional partnerships and sustainability-led innovation, rooted in the values that have guided it from day one. This direction is affirmed by Waiākea’s recent recognition as one of the highest-scoring Certified B Corporations^™ in the beverage and water categories.

“We are incredibly proud to welcome T-MAC, Devin, and Jerami to the Waiākea ‘ohana.” said Ryan Emmons, Waiākea Co-Founder & CEO. “We are not only partnering with the best in their respective sports, but also working with impact leaders who truly believe in our mission and community impact.”

McMillan, Williams, and Grant join Waiākea’s impact partners alongside a list of world-renowned athletes: 3x MLB MVP Aaron Judge, perennial NFL All-Pro and current sack leader Myles Garrett, 4x NBA Champion Klay Thompson, and a number of high-profile Hawai’i born and raised athletes including Heisman Trophy Winning QB and NFL Vet Marcus Mariota, former World Series Champion Shane Victorino, 2x Golden Glove Winner Kolten Wong, current World Series Champion Kirby Yates, US Beach Volleyball Olympian Taylor Crabb, Women’s Pro Surf Legend Coco Ho, and Softball’s Home Run Queen Jocelyn Alo. While this group of talented individuals are most known for their competitive achievements, they are helping to lead the charge outside of sports and share the brand’s belief that companies can be catalysts for positive change.

Media Contacts:

Jason Walter — [email protected]
Lydia Bagarozza – [email protected]

About Waiākea Hawaiian Volcanic Beverages:

Waiākea Hawaiian Volcanic Beverages is a public benefit corporation founded in 2012 in Hilo, Hawai’i with the stated mission of sustainably providing naturally healthy Hawaiian coffee and water products while contributing to and promoting clean water access, conservation, and education for those in need in Hawai’i and throughout the world. Available at thousands of retail locations across Hawai’i and the continental U.S., including Whole Foods, 7-Eleven, Walmart, and more. Waiākea was one of the first in the U.S. to develop and commit to 100% post-consumer recycled packaging in 2012, and continues to be the enviro-tech leader of its category for this and its many other initiatives. Its award-winning taste is derived from its natural filtration through 14,000 feet of porous volcanic rock, making it naturally alkaline and electrolyte-rich. Through its non-profit foundation, the Kōkua Initiative, Waiākea works to empower the people of Hawai’i through a 3 piko approach that encourages educational opportunities, ‘āina-based conservation & sustainability, and support for the most vulnerable in our community. Since its inception, the project has impacted over 495,000 people in Hawai’i.

For more information, please visit the Waiākea website at https://waiakea.com and follow along on Instagram @Waiakea.

SOURCE Waiākea Hawaiian Volcanic Beverages