Seattle startup drilled and completed the world’s first subsea geothermal well, operated a power plant nearly a mile beneath the Pacific from Seattle, and demonstrated net-positive power from an active underwater volcano.

SEATTLE, Oct. 19, 2026 — Endurance Energy today announced the first end-to-end demonstration of subsea geothermal power: its Adélie test plant generated more electricity than it consumed on an active underwater volcano nearly a mile deep in the Pacific Ocean.

During a three-week deployment at Axial Seamount, 300 miles off the Oregon coast, Endurance drilled and completed the world’s first offshore geothermal well, landed a 3-ton power plant on the seafloor, operated it in real time from Seattle over subsea fiber, and generated net-positive electricity from a nearby natural hydrothermal vent.

“On Sept. 27, we put a power plant on an active underwater volcano and made power,” said Andrew Redd, founder and CEO of Endurance Energy. “This historic milestone is also our first end-to-end test. We now know, firsthand, what works at depth, what needs to be improved, and how to build the next system for sustained commercial generation.”

Endurance calls the test deployment Adélie. It was designed to prove the full chain required for subsea geothermal power: drill a well, land and operate a power plant on the seafloor, convert geothermal heat into electricity, and communicate with the system from shore in real time.

The company was founded in January 2025 and made its first deep-sea deployment in August 2025. Adélie was Endurance’s fifth deep-sea deployment in just over a year and its first to test all of these steps together.

When commercialized, subsea geothermal systems will convert the heat beneath the ocean floor into continuous, weather-independent clean electricity for coastal grids and industrial sites around the Pacific and worldwide.

What Adélie proved

A geothermal well could be drilled and completed on the seafloor. In the Axial Caldera, about 5,000 feet beneath the Pacific, Endurance’s subsea lander drill bore two holes less than two feet apart. Both encountered hydrothermal fluid. The team cased and cemented the second hole, capped it with a valve, and completed a 52-foot (16-meter) geothermal well. After cementing, the well flowed at 260°C (500°F).

A power plant could be landed and controlled from shore. Endurance landed Adélie on target, then commanded the plant in real time from Seattle over the National Science Foundation’s Regional Cabled Array, a seafloor fiber-optic network operated by the University of Washington as part of the Ocean Observatories Initiative. The team also tested optical and acoustic communications links and ran high-temperature hydrothermal fluid through the plant.

Subsea geothermal power could generate net-positive electricity. Connected to a nearby natural vent flowing at approximately 281°C (538°F), Adélie’s turbine reached approximately 26,000 rpm. For 8.7 seconds, the system generated more electricity than it consumed—a median of about 2 kilowatts net and a peak of 16.5 kilowatts net.

“The main question we had is can the system generate more power than it uses.” said Redd. “Adélie did. Goddard’s first liquid-fueled rocket flew for two and a half seconds. Our first net-positive run lasted about nine. Our approach is to make it exist, then make it good.”

What Endurance learned

Adélie was a test article, not a commercial-scale power plant. Its purpose was to expose the engineering realities of operating a geothermal system on the deep-ocean floor.

The newly drilled well delivered hot fluid but was too restrictive to run the plant. The net-positive run at the nearby natural vent ended when battery overcurrent protection stopped the system. About ten minutes later, during a restart attempt, a power cable feeding Adélie’s refrigerant pump failed, ending the dive.

The deployment produced data on seafloor drilling, well flow, heat transfer, mineral buildup, high-temperature power generation, and long-distance control of subsea equipment, which is information Endurance will use to build its next system.

Drilling at depth

Endurance drilled away from the hydrothermal vent chimneys and the marine life that lives around them. Its well is approximately two inches wide; by comparison, oil, gas, and onshore geothermal wells often begin with casings 20 to 36 inches across.

The team used filtered seawater rather than drilling mud, avoiding the chemicals commonly used in offshore oil and gas drilling.

Environmental monitoring

Endurance ran a voluntary environmental monitoring program throughout the deployment. Before placing equipment, the team mapped the seafloor and selected the least disruptive site. It sampled water before and after every operation and recorded the surrounding seafloor community (including tubeworms, snails, crabs, and bacterial mats) on video during every dive.

The team checked its findings against 11 instruments operated by outside scientists. The loudest sound recorded was the ship’s engine, within the normal range for research vessels at Axial Seamount based on three years of recorded data. No marine mammals were observed. Monitoring showed no unusual seismic or volcanic activity, no significant changes to the seafloor community, and no significant change to the site’s natural hydrothermal activity.

More than 40 water, rock, and mineral samples are now with independent laboratories for analysis.

What’s next

This winter, Endurance will deploy Gentoo, a refurbished and upgraded version of Adélie designed to target higher power and longer sustained generation.

While the Adélie well reached 16 meters (52 feet), Endurance’s current lander drill can reach 80 meters (about 260 feet). The company expects deeper wells to deliver the greater flow needed for sustained generation. In parallel, Endurance is developing Leopard, its 2-megawatt commercial generator.

Endurance’s first commercial project is in development in the Kingdom of Tonga, targeting first power in 2027. The project is intended to supply clean, always-on electricity directly to Tonga’s grid, which today runs largely on imported diesel.

About Endurance Energy

Endurance Energy is a Seattle-based company developing the first commercial subsea geothermal power systems. Its modular generators sit on hydrothermal reservoirs along mid-ocean ridges and convert the Earth’s heat into continuous, weather-independent electricity. That power can serve coastal grids, industrial sites, and data centers around the Pacific and worldwide. The company has raised $63M to date, including a $54M Series A led by Founders Fund. Learn more at enduranceenergy.com.

SOURCE Endurance Energy

Following a highly successful nationwide launch at Sephora, the brand continues its massive momentum to scale operations, expand team, and accelerate omnichannel presence.

LOS ANGELES, Oct. 19, 2026 — POV Beauty, the trailblazing skin prep brand co-founded by creator Mikayla Nogueira and beauty industry veteran Ani Hadjinian, today announced the closing of a Series A funding round. The round was led by Silas Capital, a consumer growth equity and venture capital firm, with participation from RÉDO Capital and the brand’s original investor, Imaginary Ventures. The funding will be used to fuel the brand’s ownership of the skin prep category and continue driving the impressive growth seen to-date in retail and ecommerce.

Launched in 2025, POV Beauty is a next-generation brand built on a core philosophy: makeup only performs at its peak when skin is properly prepped. By bridging clinically-backed skincare with high-impact cosmetics, POV offers consumers products that deliver, education that empowers, and a community with unmatched engagement. Standout, community-loved formulas include Drench It, Glaze It, Whip It, Drip It, and Chill It, alongside the beloved Snatch It and Amp It franchises. In the coming months, the brand will expand its lineup to further streamline the path to a flawless base and guarantee artistry-level results for all.

The investment arrives amidst explosive market demand and on the heels of POV Beauty’s highly successful launch in all Sephora stores nationwide and online. This strategic capital, coupled with the recent rollout of the brand’s dedicated community app, underscores POV Beauty’s commitment to building a robust, long-term brand ecosystem.

“This year has been transformational for POV Beauty,” said Ani Hadjinian, Co-Founder and CEO of POV Beauty. “We have proven our scale potential through retailers like Sephora, who deeply believed in our vision, and our team delivered the operational excellence to successfully execute massive launches. We knew immediately that Silas Capital was the right partner to help fuel this next phase. Their expertise in scaling prestige beauty is unmatched, and, with the addition of RÉDO Capital and the continued support of Imaginary Ventures, we are perfectly positioned to deliver a one-two punch of rapid retail expansion and category-defining innovation.”

Funding will be strategically deployed to drive aggressive growth across multiple touchpoints: accelerating momentum within Sephora, expanding the team, dominating its presence on TikTok Shop (TTS), and investing heavily in a rich pipeline of skincare-makeup hybrid innovations.

“POV Beauty represents a rare and powerful intersection of unparalleled digital community insight and intuitive, high-performance physical products,” said Brian Thorne, Partner at Silas Capital. “Mikayla and Ani have built a brand that truly listens to its consumers, delivering makeup-gripping solutions that address real whitespace in the market. Following their unprecedented launch at Sephora, the brand’s overwhelming momentum made it clear they are poised to lead the skin prep category. We are thrilled to partner with them to help fuel this next chapter of hyper-growth.”

“Our community drives POV and this investment is about honoring that community by dreaming even bigger,” said Mikayla Nogueira, Co-Founder of POV Beauty. “It allows us to grow our ecosystem and continue creating the clinically tested, game-changing prep products our community deserves, proving that when you put your audience first, the possibilities are truly endless.”

“POV Beauty has created a uniquely compelling position in skin prep, with such authenticity, clarity and conviction in making the space its own,” said Lusa Zhou, Co-Founder and Managing Partner at RÉDO Capital. “Ani and Mikayla are two exceptional women with complementary strengths and an uncommon understanding of their community, their consumers, and beauty, and we are delighted to be in their corner at such an important moment in their journey. We look forward to working alongside Silas Capital and Imaginary Ventures to support POV as it continues to dream bigger.”

This round is in addition to an institutional base led by Imaginary Ventures pre-launch.

“We knew early on that POV Beauty was something special,” said Kelly Dill of Imaginary Ventures. “Mikayla has a rare connection with her community, and paired with Ani’s operational expertise, they make an exceptional founding team. They’ve turned real community insight into a distinctive, high-performing product line, and they move from idea to execution with real precision. We’re proud to deepen our partnership and support them as they lead this next chapter of beauty.”

About POV Beauty
Founded by beauty creator Mikayla Nogueira and seasoned beauty executive Ani Hadjinian, POV Beauty is a community-driven cosmetics brand built at the intersection of digital discovery and intuitive performance. Rooted in self-expression, POV Beauty develops clinically backed, beginner-friendly formulas designed to streamline and elevate the modern beauty routine. For more information and to shop visit www.povbeauty.com.

About Silas Capital
Since 2012, Silas Capital has been a go-to growth equity and venture capital investor — partnering with next generation brands to drive revenue, profitability, and brand value. The firm’s Partners bring a unique blend of startup, growth equity and operating experience, enabling them to provide hands-on support beyond capital investment. Silas actively helps consumer companies scale through e-commerce, wholesale and retail channels. Previous and current investments for Silas Capital include Bare Snacks, Bellroy, Boll & Branch, Business & Pleasure, DÔEN, Hello Cake, Herbivore, ILIA Beauty, Makeup By Mario, Oak Essentials, RŌZ, Sakara Life, Vacation, Violette_FR and Wonderbelly to name a few. Learn more at www.silascapital.com.

About RÉDO Capital
RÉDO Capital is a New York-based growth equity investment firm focused on partnering with distinctive founders and exceptional consumer businesses across beauty, personal care, wellness and lifestyle. RÉDO combines flexible capital with deep industry relationships, beauty and consumer operating experience, and a thoughtful, entrepreneurial approach to partnership. The firm partners with brands with remarkable consumer resonance and the ambition to become enduring, category-defining companies. Select investments include Touchland, Dieux Skin, GUIZIO, Prose, Vacation, Ellis Brooklyn, MDalgorithms / MDhair and Thursday Boots, among others. www.redo-capital.com

SOURCE POV Beauty

DENVER, Oct. 19, 2026 — HapWare today announced that ALEYE has been named one of TIME’s Best Inventions of 2026. Its haptic wristband gives people who are blind, have low vision, or are DeafBlind instant access to facial expressions, gestures, and body language through touch on a wristworn wearable. The recognition comes as HapWare closes an oversubscribed $1.5 million pre-seed round and prepares to bring ALEYE to people across the world.

ALEYE connects to Meta smart glasses or smartphone cameras to detect facial expressions, gestures and body language, translating these nonverbal cues into distinct vibration patterns on the wrist. A smile feels like a U-shape traced across the wrist; a wave creates a side-to-side vibration. By making visual cues accessible through touch, ALEYE helps users access information that adds context and connection to everyday conversations. These moments can profoundly change a conversation. “My God, you folks have done something special here. You almost brought tears to my eyes. I forgot what it was like to read people’s expressions and body language but now I actually feel back in the conversation,” said Michael, an ALEYE beta tester.

The story of ALEYE starts with lived experience, HapWare CTO & co-founder Dr. Bryan Duarte, who became blind at 18 and proceeded to earn a Ph.D. in Computer Science—one of only 20 people in the world to do so. “The most important thing we can do as humans in our lives is interact with other humans,” Dr. Duarte says. “It is HapWare’s mission to give our users the information they need to be fully included in every social interaction they have in their educational, professional, and personal lives.”

TIME selected 300 inventions for its 2026 list and recognized ALEYE in the Accessibility category. Nonverbal communication can account for over 50% of communication, and that layer has been out of reach for millions of blind and low-vision people at work, at school and at home. HapWare is launching ALEYE across the US including to organizations like Braille Institute of America, Society for the Blind, and a growing network of assistive technology distributors.

“The majority of communication is visual,” said Jack Walters, CEO and cofounder of HapWare. “Our customers tell us ALEYE helps them navigate conversations at work, know when someone is waving, recognize when a loved one is smiling, and feel more independent. Those moments matter.”

With a team of engineers and experts in responsible technology development, HapWare is working to make communication universally accessible. Beginning with the blind, low-vision and DeafBlind community, the company sees future opportunities to support autistic and other neurodivergent people in interpreting social cues, help sales professionals understand nonverbal responses, and enable developers to build new applications through a haptic software development kit for its wearable hardware. Privacy, user choice and collaboration with the communities it serves will guide this work.

HapWare’s $1.5 million pre-seed round was oversubscribed and led by Adaptation Ventures, with participation from Sidecut Ventures, Mines Venture Fund, Avesta Fund, The Pitch Fund and others. “We were proud to back HapWare early because we saw an incredible team building from lived experience. What they’ve built for the daily needs of people who are blind can also serve people who are Deaf, DeafBlind, or neurodivergent. Like many startups in this space, it has uses well beyond disability—in this case, communication and robotics. Recognition from TIME and strong investor interest are well-deserved.” said Rich Palmer, Managing Partner at Adaptation Ventures, an early-stage venture capital firm that invests in next-generation companies building disability, neurodivergence and health technology to maximize human independence and potential.

Reserve your ALEYE today with a fully refundable $59 deposit and save 20% off the retail price. Your deposit goes toward the $359 preorder price and secures your place among the first to receive ALEYE when it officially launches in 2027. Preorder at hapware.com/preorder.

About HapWare
HapWare is a Denver-based wearable technology company building haptic technology for people with disabilities.

Media contact
HapWare Media Relations – [email protected] – (720) 254-1292

SOURCE HapWare

High Lander develops an end-to-end software layer for managing the autonomous aviation ecosystem through its Orion (Drone Fleet Management solution) and Vega (Unmanned Traffic Management solution) platforms. Building on these capabilities, the company is expanding into the national security and defense sectors with Andromeda, an AI-powered operational intelligence platform designed to create a unified operational picture of low-altitude airspace.

Andromeda is built on an open, hardware-agnostic architecture, enabling sensor systems and effectors from multiple vendors to operate under a single intelligent control layer, serving as the operational brain for low-altitude airspace security. This allows High Lander to combine its own airspace management capabilities with advanced technologies from international partners across detection, classification, tracking, and operational response.

The capital will support High Lander’s expansion in the United States and other international markets, the continued development of its Vega UTM, Orion DFM and Andromeda platforms, and the extension of its technology into defense, homeland security and dual-use applications. 

Alon Abelson, Founder and CEO of High Lander:

“High Lander is entering a new phase. Over the past several years, we have built the technological infrastructure that enables countries and organizations to manage a world in which autonomous systems are becoming an integral part of the airspace. We are now taking that same infrastructure to a new scale, expanding into new markets, the security sector, and strategic collaborations with leading technology players worldwide.

The completion of this funding round allows us to accelerate key strategic initiatives and significantly expand our international operations. Our vision is to become the software layer that connects autonomy, aviation, and security, giving countries the ability to understand and control what is happening in low-altitude airspace.”

The investor group brings complementary strategic and financial expertise across autonomous systems, aerospace, defense technology, homeland security and international market expansion. EDGE Group’s additional investment deepens an existing strategic relationship with High Lander, while the participation of STEP, Protego and Kinetica expands the company’s network across the U.S. autonomous systems market and the global defense technology ecosystem.

Lital Leshem, Co-Founder and Managing Partner at Protego: “As drone adoption continues to expand, the need for a unified aerial picture, threat detection, and coordinated real-time response is becoming increasingly critical. High Lander is developing technology that addresses these challenges, and its ability to integrate diverse systems and technologies under a single command-and-control layer is particularly significant. We believe the combination of the company’s technology, team, and strategic partnerships provides a strong foundation for expansion into international markets.”

About High Lander

Founded in 2018 by aviation and technology experts, High Lander provides software infrastructure for autonomous aviation, drone fleet operations and airspace management. Its Vega UTM platform enables the safe coordination of uncrewed aircraft across complex airspace environments, Orion DFM enables organizations to remotely manage drone fleets and autonomous missions, and Andromeda adds an AI-driven, hardware-agnostic sensor fusion and airspace security layer that combines data from multiple detection systems into a single operational picture, helping distinguish authorized activity from unidentified or unauthorized aircraft.

For more information, visit www.highlander.io.

Contact:
Elad Kafri
[email protected]

SOURCE High Lander

Backed by leading media outlets and communities in the U.S. and Latin America, the fund invests distribution instead of capital as AI makes software cheaper to build and community and trust become key advantages.

MIAMI, Oct. 19, 2026 — Nomada Fund today launched as the world’s first New Media fund. Instead of capital, it invests Media Credits in sustained distribution across more than 10 New Media platforms, including newsletters, podcasts, communities, events, SEO, and GEO.

The firm is backed by ILB Media Group, a New Media conglomerate of more than 20 finance and investment outlets in the U.S. and Latin America, giving portfolio startups early distribution to investors, founders, and customers.

A proven model

Nomada Fund uses the same financial structure as Media for Equity (M4E) funds, where media groups trade advertising space for equity, with two differences: it operates on New Media platforms instead of TV, radio, or print, and it invests at Pre-seed and Seed rather than at maturity. This makes it the world’s first Distribution for Equity (D4E) fund.

With AI agents and no-code tools, a small team can recreate a working product in days. What competitors cannot copy is the trust of people who follow a company, open its emails, and recommend it. Hence the firm’s motto: “Distribution is the new moat.” A startup’s moat, what protects it from competitors, used to be technology. Today, it is the ability to reach the right people and turn visibility into trust.

“A startup’s most valuable asset is no longer just its product, but its brand and relationships,” said Jose Kont.

The team

Co-founder and Managing Partner Jose Kont is a New Media expert with 20+ years of experience and partner at Impacta VC, CAFI, and Cuantico VP. Co-founder and Venture Partner Israel García Ballesteros is CEO and founder of Startuplinks, the leading Spanish-speaking community of VC funds and accelerators, with 270+ institutional members. They are joined by Venture Partners Rodrigo Giacaman (Startups Latam), Ileana Figueroa (Pulso Capital), and Jose Manuel Aguirre (TECHLA), and by legal partner Eugenia di Marco, trained at UC Berkeley School of Law and MIT.

Rival IQ’s 2026 Social Media Industry Benchmark Report puts brands’ median Instagram engagement at 0.30% of followers, down from 0.36%. Nomada Fund helps startups move that “rented attention” into owned channels like newsletters, communities, and events.

“When anyone can build software over a weekend, the edge goes to whoever reaches the right people first,” the firm said.

Press Materials Link

Press Contact
Katherine Castelán
Lead Content Manager, ILB Media
Email: [email protected]
Phone: +502 2458 4770

About Nomada Fund
Nomada Fund is the world’s first New Media fund and a pioneer of the Distribution for Equity (D4E) model. It invests sustained distribution and visibility across more than 10 New Media platforms in exchange for equity in early-stage startups with proven traction in Latin America and the United States. Learn more at https://nomadafund.com.

SOURCE Nomada Fund

The $6.6 billion actively-managed ETF, which Ruane Cunniff believes is among the largest actively-managed ETF launches to date, unites Sequoia Fund and the majority of Ruane Cunniff’s taxable separate accounts in a single portfolio

NEW YORK, Oct. 19, 2026 — Ruane Cunniff LP, the New York-based investment firm that has managed the Sequoia Fund mutual fund for over 56 years, today announced the launch of Sequoia ETF (NYSE: SEQ), a milestone in the firm’s history. Sequoia ETF is the successor to Sequoia Fund, merging the legacy mutual fund and the majority of the firm’s taxable separate accounts in a single ETF portfolio of approximately $6.6 billion.

Sequoia’s story began in 1970, when Bill Ruane and Rick Cunniff started the fund with a simple idea: that investors who buy a concentrated group of great businesses at reasonable prices and hold them patiently can reliably build wealth over the long term. Through more than five decades of evolving markets, and across three generations of leadership, that philosophy has never changed, and it continues unchanged following today’s announcement of the ETF conversion.  Sequoia ETF is managed by the Ruane Cunniff Investment Committee – Arman Gokgol-Kline, John Harris, and Trevor Magyar – which has managed the Sequoia strategy since June 30, 2016.

“This is a proud day for Ruane Cunniff,” said John Harris, Managing Partner of the firm. “For 56 years, Sequoia has been built for patient owners, and we believe the ETF is the modern vehicle to serve them for decades to come. Its tax efficiency is a powerful advantage for long-term investors. We’re deeply grateful to the clients who have trusted us, many of them for decades.”

Following a reorganization completed at the close of business on Friday, October 16, 2026, Sequoia Fund shareholders and separate account clients became shareholders of Sequoia ETF. The ETF structure is expected to provide several potential benefits to shareholders as outlined in the Sequoia Fund Combined Proxy Statement/Prospectus, including tax-efficiency benefits for many taxable investors that may allow them to defer the realization of certain capital gains, similar to an investment in an individual stock. ETF shares can be held in most brokerage accounts and traded throughout the day, with portfolio holdings published daily on the ETF’s website. Sequoia ETF currently owns a concentrated portfolio of twenty-two businesses with what Ruane Cunniff LP believes are durable competitive advantages, strong management teams and attractive economic characteristics. Since inception on July 15, 1970 through September 30, 2026, Sequoia Fund generated an annualized return of 13.3% net of fees, versus 11.6% for the S&P 500 Index.

Fund materials are available at www.sequoiaetf.com or by calling 1-844-737-3230. 

Learn more about Sequoia ETF (SEQ)

About Ruane Cunniff

Ruane Cunniff LP is a New York-based registered investment adviser, founded in 1969 by Bill Ruane and Rick Cunniff and best known for managing Sequoia Fund, now Sequoia ETF. It is a single firm with a single philosophy: seek to own great businesses at reasonable prices and stay with them as long as they remain attractive. Today that philosophy has multiple expressions. Alongside Sequoia ETF, the firm and its affiliates manage several private partnerships, including Acacia, Poplar, Willow and Wishbone, each pursuing a distinct strategy grounded in the same approach. With approximately $15 billion in assets under management (as of September 30, 2026), Ruane Cunniff serves individuals, financial advisers and institutions. Learn more at www.ruanecunniff.com.

Media Contact
[email protected] 

The performance data quoted represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please call toll-free 1-844-737-3230.

Important Information

Please consider the investment objectives, risks and charges and expenses of Sequoia ETF (the “Sequoia ETF” or the “Fund”) carefully before investing. The Fund’s prospectus and summary prospectus contain this and other information about the Fund. The prospectus is not an offer to sell the shares and is not soliciting an offer to buy the shares in any state where the offer or sale is not permitted. You may obtain a copy of the prospectus and summary prospectus by visiting www.sequoiaetf.com or by calling 1-844-737-3230. Please read the prospectus and summary prospectus carefully before investing. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Risks: The ETF invests primarily in equity securities, which are subject to price fluctuations in the stock market. The Fund is non-diversified, which means it may be invested in a limited number of issuers and more susceptible to any economic, political and regulatory events than a more diversified fund.

Investors buy and sell shares of ETFs at market price (not NAV) in the secondary market throughout the trading day. Shares are not individually available for purchase or redemption directly from the ETF. Brokerage commissions and bid-ask spreads will reduce returns.

ETF shares are created at NAV only by authorized participants, in large blocks called creation units. Individual shares are traded in the secondary market at market prices. Past performance does not guarantee future results. As with any investment, you may lose money by investing in the ETF.

The Fund’s gross expense ratio is 0.99%.

Sequoia ETF is a series of Northern Lights Fund Trust II and is distributed by Northern Lights Distributors, LLC, which is not affiliated with Ruane Cunniff LP.

SOURCE Ruane Cunniff

LAS VEGAS, Oct. 19, 2026 — Ballerine, an applied AI lab for financial crime operations, today announced that it has been named one of three winners in the Startup Growth Stage category at the 2026 Money20/20 Money Awards. Winners were announced on October 18 at Money20/20 USA in Las Vegas, the largest annual gathering of the global payments, banking, and fintech ecosystem. The recognition highlights the Ballerine Workforce platform that enables financial institutions to configure, deploy, and manage teams of specialized AI agents. 

The Money Awards bring together an international panel of experienced executives from across banking, payments, and investment to assess the entries. Ballerine was selected as a winner from a highly competitive field of finalists, featuring both emerging fintech innovators and established leaders in the financial services industry.

“As AI agents increasingly make decisions and purchases on our behalf, the teams safeguarding this new economy must evolve just as quickly. At Ballerine, we’re building the AI workforce that empowers institutions to investigate risk, establish trust, and grow with confidence,” said Noam Izhaki, co-founder and CEO of Ballerine. “We are proud to be named a winner at the Money Awards and pleased to see our approach being recognised.”

Workforce integrates AI agents into the investigative and operational workflows of financial crime teams, enabling them to gather evidence, investigate businesses, evaluate risk against institutional policies, and produce clear, documented findings. By automating complex, time-intensive tasks, Workforce helps teams work more efficiently, make informed decisions, and scale their investigative capabilities.

How Workforce works

Workforce deploys specialized AI agents across onboarding, underwriting, monitoring, and investigations to assess business risk against institutional policies. Human teams retain decision-making authority, with configurable workflows, escalation rules, and evidence-backed findings.

Trust for the agentic economy

As AI agents make more purchases autonomously, Ballerine’s merchant intelligence, due diligence, and monitoring capabilities help institutions establish trust and oversee risk across an increasingly automated economy.

Supporting institutional growth

Ballerine serves more than fifty enterprises worldwide, including banks, acquirers, payment facilitators, ISOs, and payment service providers. Workforce helps them accelerate approvals, investigate suspicious activity, and scale reviews as they grow.

About Ballerine

Ballerine is building the next generation of financial crime operations. Its Workforce platform enables financial institutions to configure, deploy, and manage AI agents for investigation, due diligence, and ongoing monitoring. As a Mastercard-certified Merchant Monitoring Service Provider (MMSP), Ballerine helps institutions expand their capacity to assess businesses and build trust in the emerging agentic economy.

Media Contact

Or Moshkovitz
[email protected]

SOURCE Ballerine

BOSTON, Oct. 19, 2026 — TEAMFund, a 501(c)(3) Public Charity and a For-Profit Impact Fund whose mission is to enhance patient access to medical technology in low-resource settings, announced at The AdvaMed MedTech Conference, the release of this year’s Annual Impact Report. TEAMFund’s seven portfolio companies (Jana Care, Forus Health, Tricog Health, MediBuddy, EchoNous, Vezeeta, Qure.ai), performed 49MM patient services and contributed to the needs of 37MM unique patients over the past year.

During a presentation in Boston, Tim Ring, former C. R. Bard CEO and TEAMFund Co-Founder, said “We are proud that our companies, in aggregate, are now reaching 37MM unique patients per year, a 30% increase over last year. Impact investors today are asking for ‘performance + impact,’ and that was precisely the premise on which TEAMFund was founded. With Fund I now returning capital to our Limited Partners, we are seeing that health impact and investment performance can reinforce one another. These impact numbers are all about the hard work and innovation of our seven companies and their employees.”

Also at the MedTech Conference, TEAMFund awarded its Global Health Innovation Award to AOA Dx, which is pioneering the use of lipidomics to detect early-stage cancers through a non-invasive blood test, starting with ovarian cancer. Ovarian cancer disproportionately impacts women in low- and middle-income countries, where limited screening infrastructure, imaging, and specialist expertise mean most cases are diagnosed at advanced stages. Simple, affordable, blood-based tests can help frontline health workers screen at-risk or symptomatic women and prioritize referrals, improving early detection and outcomes without costly infrastructure. This is TEAMFund’s ninth award to a female founder/CEO.

A few highlights from the Annual Impact Report:

*CUMULATIVELY 203MM PATIENT SERVICES AND 144MM UNIQUE PATIENTS SERVED,
*67% OF PATIENTS WERE SERVED IN INDIA OR AFRICA, and
*25,825 NEW PROVIDERS TRAINED LAST YEAR.

A complete copy of the Report can be found on TEAMFund’s website www.teamfundhealth.org.

ABOUT AOA DX

AOA Dx, led by CEO and Co-Founder Oriana Papin-Zoghbi, is transforming early cancer detection with a proprietary multi-omics liquid biopsy platform that integrates lipid, metabolite, and protein biomarkers with machine learning. The company’s lead test, AKRIVIS GD™, is an investigational blood test designed to detect ovarian cancer early in symptomatic women, addressing a critical diagnostic gap in one of the deadliest cancers affecting women. AOA Dx is the ninth winner of TEAMFund’s Annual Global Health Innovation Award and the ninth consecutive female founder. www.aoadx.com

ABOUT TEAMFUND

TEAMFund (Transforming Equity and Access in MedTech), is an organization that combines a Non-Profit with an impact fund Limited Partnership, both having a shared aim to expand access to affordable, appropriate, and sustainable medical technologies that address unmet health needs in low-resource, underserved settings across the globe. TEAMFund is co-founded and co-chaired by Timothy Ring, former Chairman and CEO of C.R. Bard, and Kathryn Gleason, former senior partner at Morgan Lewis. TEAMFund counts among its supporters over 20 major MedTech and healthcare companies worldwide. www.teamfundhealth.org 

Contact: Yousuf Mazhar, Managing Partner
[email protected]
352-226-7527

SOURCE TEAMFund

$90 million financing committed by Spice Expeditions, WashU and Moore and $50 million of bond proceeds to fund the scaling of profitable lending and launches of new products

MANILA, Philippines, Oct. 19, 2026 — Salmon Group, a technology-driven banking and lending platform in the Philippines, today announces that it secured additional $140 million of financing to continue its growth in the Philippines.

Proceeds from the financing round will fund the scaling of profitable lending (Salmon Credit Line and in-store lending) and nationwide roll-out of new products, including motorcycle and MSME lending.

In less than four years of operations, Salmon has become one of the fastest-growing technology companies in the Philippines, operating through a BSP-licensed bank, Salmon Bank (Rural Bank) and an SEC-licensed financing company, Salmon Finance.  

Today, the companies in Salmon Group serve millions of Filipinos through its Salmon app – one of the highest rated financial services apps in the Philippines with 9 million downloads, 4.8 rating on App Store and Google Play, 99.9% uptime, and dedicated 24/7 customer support.  Through the AI-powered credit engine of Salmon Finance, the group’s financing arm, Salmon is able to serve customers with limited credit history and provide credit decisions within minutes.

“Everyday financial services come with unnecessary friction for many Filipinos.  We’re removing these barriers and building innovative products with the reliability and security customers expect in today’s world,” said Pavel Fedorov, co-founder of Salmon. “We are doubling down on the opportunity in the Philippines as we believe deeply in its scale and in the importance of focus to deliver a differentiated execution.  This financing lets us do more: extend banking and credit access to more Filipinos, roll out new products, and keep raising the bar for the financial services industry in the country. We are grateful to our existing investors for backing the next stage of our mission.”

ABOUT SALMON

Salmon Group is a technology-driven financial services holding company building a banking and lending platform across Southeast Asia, starting with the Philippines. The Group operates a BSP-licensed bank, Salmon Bank (Rural Bank) Inc.; an SEC-licensed financing company, Salmon Finance Inc.; and a growing suite of financial products – all delivered through the Salmon app, a modern money app built for everyday Filipinos. Founded in July 2022 by banking and technology veterans Pavel Fedorov, George Chesakov, and Raffy Montemayor, Salmon is backed by leading US venture investors, IFC (World Bank Group), ADQ/Lunate, Antler as well as prominent Filipino investors. The Salmon app is rated 4.8 in both the App Store and Google Play, one of the highest ratings for a financial services app in the Philippines.

SOURCE Salmon Group