Funding led by Vertex Israel brings total raised to $20M, driven by rapid customer growth and strong demand for open source curation.

TEL AVIV, Israel, July 29, 2025 — Seal Security, a leading provider of application security solutions specializing in automatic curation of vulnerability-free open source components, today announced it has raised $13 million in Series A funding.

Seal’s platform addresses a critical market need to secure software supply chains and eliminate open source vulnerabilities. It provides production-ready patches that protect every layer of the software stack, from application dependencies and operating systems to container base images, without requiring version upgrades or complex migrations. Seal helps organizations keep their current environments secure and ensure future deployments are protected from the start.

Seal Security’s customer base has grown significantly, accompanied by substantial growth in ARR. To support this rapid expansion, the company has more than doubled its headcount over the past year.

“Modern development moves faster than ever, and traditional AppSec solutions can’t keep up,” said Itamar Sher, CEO of Seal Security. “At Seal, we believe the security of the code we build should be accelerated by LLMs, rather than having it exponentially grow our vulnerability backlog. This investment, along with the increased customer demand, validates the demand for our patching-first approach, empowering teams to automatically fix vulnerabilities, maintain compliance, and deliver secure software without altering their workflow.”

Organizations leveraging Seal Security achieve immediate, ongoing value by resolving critical vulnerabilities within hours or even minutes, significantly reducing security risks. Seal also commits to an industry-leading 72-hour CVE remediation SLA.

Seal Security replaces previously complex and intrusive solutions, directly tackling core challenges faced by Application Security, DevOps, DevSecOps, and IT teams, including vulnerability backlogs, dependency hell, legacy codebases, and rapid AI-driven development. Seal ensures secure deployment while maintaining compliance with standards such as PCI DSS, FedRAMP, DORA, CRA, NYDFS, and more.

The Series A round was led by Vertex Israel, with participation from More Investments, SBI Group, and CCL, bringing total funding to $20 million. This announcement follows a year of exceptional growth and continuous product innovation. The funding will enhance Seal Security’s go-to-market efforts and accelerate expansion of its core platform.

“Seal is emerging as the de facto remediation layer for open source and container environments, in a market that’s rapidly shifting from passive detection to automated, scalable remediation,” said Tami Bronner, General Partner, Vertex Ventures Israel. “Leading global cyber companies and highly regulated enterprises are already relying on Seal to eliminate vulnerability backlogs, maintain compliance, and secure even legacy systems without code rewrites or production disruptions. CISOs aren’t just adopting Seal; they’re embedding it into their core AppSec strategy. Seeing the depth of customer impact and the team’s ability to execute at scale, we’re proud to deepen our partnership. Seal isn’t just meeting the need, it’s shaping the future of secure software delivery.”

For more information, please contact: [email protected]

SOURCE Seal Security

Led by Insight Partners with participation from Andreessen Horowitz, funding will accelerate development of the widely adopted AI security testing solution

SAN FRANCISCO, July 29, 2025 — Promptfoo, the widely adopted open‑source framework for AI red‑teaming and security testing, today announced an $18.4 million Series A financing led by global software investor Insight Partners, with participation from existing investor Andreessen Horowitz.

Founded in 2024, Promptfoo is steadily gaining recognition as an emerging standard for robust AI security testing, with over 100,000 developers using its open source tools and adoption by more than 30 Fortune 500 companies. The platform helps developers and security teams secure large language models (LLMs) and generative AI applications by detecting and mitigating risks like prompt injection, data leakage, and insecure tool use. Its commercial enterprise solution, launched just a year ago, is trusted by leading retailers, telecoms, and financial institutions to securely deploy AI systems.

The funding comes at a critical point for enterprise AI adoption. As companies move beyond proof-of-concepts to production deployments, the complexity and risk profile of AI systems has grown exponentially.

“AI security has become the largest blocker to enterprises shipping generative AI applications to end users,” said Ian Webster, CEO and co-founder of Promptfoo. “Architectures like RAG, agents, and most recently MCP have expanded what’s possible with AI, but they’ve dramatically increased the attack surface.”

Promptfoo’s platform stands apart as one of the only AI-security solutions that closes the loop from discovery to resolution. It embeds automated red-team tests directly into the build and release process, pairs findings with clear, actionable remediation guidance, and feeds results into existing vulnerability-management workflows. This end-to-end automation—spanning attack objective generation, exploit search, and regression testing—gives security and engineering teams a single, continuous workflow for hardening today’s complex agentic systems, establishing Promptfoo as a leading choice for organizations aiming to deploy AI securely at scale.

“Promptfoo has created what we believe to be a category-defining product,” said Ganesh Bell, Managing Director at Insight Partners. “The layers of The Next Stack built around AI are clearly emerging beyond LLMs, and Promptfoo is a critical part of that evolution—especially in the race to enable intelligence-first design and secure Enterprise AI. Serious enterprises deploying AI will need comprehensive security testing, and Promptfoo’s combination of technical depth, open source adoption, and enterprise traction positions them perfectly to capture this massive market opportunity. We’re thrilled to partner with them as they help build the full AI security suite.”

The funding will fuel Promptfoo’s expansion as it moves to establish the industry standard for enterprise AI security. The company will scale its team and accelerate platform development to meet demand from Global 2000 companies seeking comprehensive solutions to secure their AI deployments.

“When we first invested in Promptfoo, we recognized that AI security would become mission-critical for every enterprise,” said Zane Lackey, General Partner at Andreessen Horowitz. “In just one year, they’ve validated that thesis and then some. This additional investment reflects our conviction that they’ll define how companies approach AI security for years to come.”

About Promptfoo

Promptfoo is the most widely adopted open source AI security testing platform, enabling enterprises to identify and remediate vulnerabilities in their AI systems before deployment. Founded in 2024, the company’s tools are used by over 100,000 developers worldwide, while its enterprise platform secures AI applications for Fortune 500 companies across retail, telecommunications, finance, and media. Learn more at [Promptfoo.dev].

About Insight Partners

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

SOURCE Promptfoo

BIRMINGHAM, Ala., July 29, 2025 — Porter Capital is pleased to announce a newly funded $2MM receivables-based financing facility for a leading nationwide provider of technology deployment, repair, and logistics. With operations spanning across the U.S., this company supports mission-critical technology rollouts for enterprise clients. The relationship is expected to grow as the company accelerates client deployments and scales its operations nationwide.

The company turned to Porter Capital for a flexible working capital solution that could meet their operational demands. As a company that delivers custom deployment and infrastructure solutions for Fortune 500 clients, they needed immediate access to additional capital to support a large client billing on net 60 payment terms.

“From day one, the Porter team was responsive and helpful,” said the company’s CFO. “Their ability to move quickly and tailor a financing structure to our business needs was a major factor in selecting them as a partner. The process was smooth, transparent, and effective.”

“This is exactly the type of business we’re built to support,” said John Cox Miller, SVP, National Sales at Porter Capital. “This company is solving major challenges in the tech deployment space, and we’re proud to provide the working capital they need to keep moving fast to serve their clients.”

This partnership is another example of how Porter Capital delivers personalized, high-impact financing solutions for companies in growth mode. Whether supporting field service operations, contractors, or logistics firms, Porter moves with speed and precision to unlock capital when it’s needed most.

About Porter Capital
Porter Capital Corporation was founded in 1991 by brothers Marc and Donald Porter in Birmingham, AL. The company provides working capital solutions to businesses nationwide across various industries. As a direct lender and factoring company, Porter Capital has funded billions since its inception. It offers Invoice Factoring services backed by a dedicated team committed to speed, flexibility, and service. Over the years, Porter Capital has expanded its services to include a specialized transportation division known as Porter Freight Funding. Porter continues to grow by offering fast, personalized working capital solutions backed by dedicated customer service. To learn more about Porter Capital Corporation and how it can support your business, call (205) 445-9445, email [email protected], or visit www.portercap.com.

CONTACT:
Ian Binek
[email protected]

SOURCE Porter Capital

With support from Wing, Norwest and S Capital, Lumana transforms passive security cameras into intelligent systems that can see, understand and act in real-time

LOS GATOS, Calif., July 29, 2025 — Lumana, the leader in AI video security solutions, today announced that it closed $40 million in Series A funding led by Wing Venture Capital with support from existing investors Norwest and S Capital. This latest round brings the total funding raised to $64 million. The funding will accelerate Lumana’s go-to-market activities and fuel continued product innovation across its video intelligence platform, which uses vision language models (VLM) and agentic AI to transform any camera into an intelligent real-time monitoring, detection and response system.

“Lumana isn’t just another video security company. We are infusing AI into video in a way that not only transforms how organizations manage physical security, but also enhances safety and operational efficiency – all from a single platform,” said Sagi Ben Moshe, Lumana’s CEO and founder. “We’re building the infrastructure for cameras to perceive, understand context and take action in real-time – from detecting and responding to threats to uncovering safety and operational issues. This investment is a milestone in our mission, enabling us to accelerate growth to meet demand and provide our wide array of customers with physical world AI capabilities that are unmatched in the market today.”

From Static Cameras to Context-Aware, Intelligent Tools: Unlocking New Value from Video

Organizations are rapidly shifting from monitoring security camera infrastructure to AI-powered solutions that extract meaningful and proactive insights from existing camera feeds. The global market for AI in video surveillance is expected to more than double to $14.6 billion in the next four years; while use of the technology for video analytics is projected to more than triple, reaching $69 billion by 2028.

As companies grapple with staffing shortages, rising safety concerns and operational complexity, Lumana is helping them unlock more value from their existing infrastructure – turning passive cameras into intelligent, context-aware tools.

“Lumana is at the forefront of the AI video movement, enabling cameras to truly perceive the physical environment and deliver actionable insights in real-time,” said Peter Wagner, founding partner at Wing Venture Capital, who will join Lumana’s Board of Directors. “The company’s powerful platform converts ordinary video security infrastructure into a proactive, continually learning solution that enables users to scale security, safety and operational decision-making with a level of intelligence we’ve never seen in the industry before. I’m excited to work with Sagi and the team as they shape the future of video security and redefine how people and machines collaborate at scale.”

Comprehensive AI Across the Video Security Experience

Lumana’s platform integrates AI across the full video workflow and currently runs analytics on over a billion images a day, enabling behavior-based event detection, rapid investigations and operational insight generation. Users can centrally manage thousands of cameras and sites, receiving intelligent alerts and analytics tied to specific behaviors and objects, and search millions of hours of footage in seconds.

Recent feature enhancements include:

• AI agents that function as dedicated assistants for security, identification, tracking, status, safety and compliance, and integration with third-party systems.
• New alerts for various actions, including weapons, fire, falls, violence, protective gear, absence of people and vehicles, and more.
• Customizable dashboards that translate video footage into actionable, impactful insights.
• Investigative tools offering more than 100 search attributes, 10x to 15x more than existing video security systems.
• Event tag, a feature that allows Lumana to integrate with external systems to index footage for future investigations and trigger alerts based on third-party data.

Diverse Customers Benefiting from Lumana

Since emerging from stealth in April 2024, Lumana has gained traction across diverse sectors, including retail, healthcare, manufacturing, hospitality and municipalities. Notable customers include McDonald’s, Meta, Minnesota Twins Baseball Club, New York University, Tuff Shed and more.

Customer Quotes

Gautam Bhayana, director of Process Improvement, Extech Building Materials, a building materials supplier with locations across New York and New Jersey
“Our video investigation capabilities have advanced substantially, allowing us to reduce shrinkage and respond quickly to incidents. In one case, we quickly identified a recurring theft issue, shared the evidence with law enforcement and set up alerts to notify us if the individual returned to any of our locations. This combination of speed, accuracy and proactive monitoring has greatly enhanced our ability to prevent losses and strengthen store security.”

Matthew Bunning, safety and security specialist, Gateway Community & Technical College in Kentucky
“Lumana has given us a powerful, end-to-end solution that makes it incredibly easy to keep our campus community safe. It’s reassuring to know we have an intelligent system continuously watching over our students, faculty and staff, 24 hours a day, seven days a week.”

Badal Patel, partner, SpinXpress, a laundromat chain servicing Illinois and Texas
“Managing video security across our stores used to be complicated and fragmented. With over 200 cameras from different manufacturers, having one centralized system has delivered visibility and insights we never had before. With Lumana, we can now track customer traffic and dwell time, optimize staffing and service, while also securing our cash rooms by detecting when safes or sensitive doors are accessed. It’s reduced our investigation time from hours to seconds, improved our operational decision-making, and given us the peace of mind that we’re protecting both our customers and our business.”

About Lumana
Lumana provides next-generation AI video security solutions that transform any camera into an intelligent sensor, helping organizations automate monitoring, extract meaningful insights, and accelerate incident response. Lumana combines modern video security hardware, cloud-based software, and cutting-edge AI analytics — all in a scalable and intuitive system. Backed by Wing Venture Capital, Norwest, and S Capital, Lumana unlocks the power of video data to improve security, safety, and operational efficiency. Founded in 2021, Lumana is headquartered in Los Gatos, Calif., with offices in Tel Aviv. Learn more at www.lumana.ai.

SOURCE Lumana

First AI platform for private equity due diligence helps teams make confident investment decisions faster, pass on bad deals sooner, and uncover insights competitors miss

NEW YORK, July 29, 2025 — Keye today announced it has launched from stealth with $5 million in a Seed financing round from Sorenson Capital, General Catalyst, Y Combinator, ERA, Tiferes Ventures, Dunamu Ventures, and Palm Drive Capital. Angel investors who participated in the round include Kaz Nejatian (COO at Shopify), Philip Rathle (CTO at Neo4j), and Clark Valberg (former CEO of InVision).

Private equity teams face increasing pressure to evaluate more deals faster while maintaining rigorous analysis standards. Traditional due diligence processes are time-consuming, labor-intensive, and often fail to surface critical insights that separate winning deals from value traps. As competition intensifies and deal timelines compress, firms struggle to make confident decisions quickly without compromising on thoroughness, leading to missed opportunities and suboptimal investment decisions.

Keye addresses this with a platform that transforms raw deal files into structured, investor-ready insights that mirror how the smartest investors think. Built by former investors who experienced the challenges of diligence, Keye understands deal data, performs real analyses, and mirrors the workflows of top-performing deal teams. The platform delivers structured, audit-ready outputs that help teams say no sooner, say yes with confidence, and see insights their competitors never will.

“The diligence process hasn’t fundamentally changed in decades, even as the pace of dealmaking has accelerated dramatically,” said Rohan Parikh, founder & CEO of Keye. “We built Keye because we lived this pain as investors – spending weeks on manual analysis that could be automated, missing critical patterns in the data, and struggling to synthesize insights fast enough to win competitive processes. The biggest investors in this round were initially users who saw how our platform helps them create alpha through better decisions backed by real math.”

Unlike traditional AI tools that simply summarize documents, Keye performs genuine quantitative analysis with 100% accuracy. What previously took investors days to complete now takes minutes, delivering zero errors, no hallucinations, and Excel-ready outputs. The platform enables investors to compare every deal with contextual insights unavailable to competitors, resulting in faster decisions without compromising analytical rigor.

With Keye, investment firms can:

• Find and Compile Data: Scan VDR files and make your data instantly usable in tables or wherever you need it
• Catch Hidden Risks: Identify and flag key facts that impact your deal, customized to suit your investor profile
• Perform Analysis: Quickly and easily spin up retention bridges, cohort analysis, or deep dive into price-volume effects. 
• Export Excel Models: Download any set of analyses into a spreadsheet with dynamic formulas already in place – no hard coded cells
• Source Every Fact: Attribute each data point to the raw data source and see the math behind every calculation
• Understand Your Needs: Talk to Keye like an associate to instantly make changes to tables and analyses on the fly
• Benchmark Every Deal: Instantly compare performance, retention, margins, and more – across every deal your firm has ever seen.

This funding round will accelerate hiring, particularly for engineers and private equity domain experts, and expand Keye’s analytical capabilities to cover more verticals and expand to the broader M&A community.

“The Keye team is solving a significant pain point for private equity investors by unlocking the manual and time-consuming process of due diligence,” said Suril Butala, Vice President at Sorenson Capital. “As a customer of Keye, we’ve fundamentally evolved how deals progress through our pipeline. We have largely automated our data ingestion process and can get from the first meeting to extending a term sheet much quicker. Keye gives us the data we need to focus on the core questions of a business, especially since we can easily export all the analyses the platform builds into Excel, and we can’t see ourselves going a day without it anymore.”

About Keye

Keye is the first AI platform built exclusively for private equity. Keye understands the data, performs real analyses, and mirrors the workflows of top-performing deal teams. For more information, visit https://www.keye.co/

SOURCE Keye

Financing co-led by new investors Sofinnova Investments and B Capital, along with an existing investor with continued support from F-Prime, Omega Funds, and Third Rock Ventures.

Additional new investors include Qatar Investment Authority and Alexandria Venture Investments.

Funding will support the advancement of lead asset AB001 through Phase II development, the progress of additional undisclosed programs toward IND readiness, and the expansion of a unique supply chain leveraging ARTBIO’s proprietary generator technology.

CAMBRIDGE, Mass. and OSLO, Norway, July 29, 2025 — ARTBIO, Inc. (“ARTBIO”), a clinical-stage radiopharmaceutical company developing a new class of alpha radioligand therapies (ARTs) to treat a range of cancers, today announced the closing of a $132 million Series B financing co-led by new investors Sofinnova Investments and B Capital along with a life sciences dedicated investment fund that invested previously. Further support came from existing investors F-Prime, Omega Funds, and Third Rock Ventures, and new investors Qatar Investment Authority and Alexandria Venture Investments. These proceeds will be used to advance the company’s development of ARTs.

“This sizable investment from both existing and new investors will enable ARTBIO to continue innovating therapies that treat a range of deadly cancers with power and precision,” said Emanuele Ostuni, Ph.D., CEO of ARTBIO. “Our team is grateful for the investment and recognition of the need to build a supply chain that matches the properties of the therapies and the unique payload that we use.”

This latest round of funding will support the advancement of ARTBIO’s pipeline, including its lead program, AB001, for metastatic castration-resistant prostate cancer, through Phase II clinical trials, and enable continued expansion of the company’s supply chain. The company plans to rapidly advance its manufacturing network infrastructure to supply global clinical trials, and ultimately, commercialization.

“ARTBIO’s approach to ART has the potential to positively change standards of care in cancer,” said Robert Mittendorff, M.D., General Partner at B Capital. “ARTBIO’s lead asset, AB001, is designed to fully harness the unique power of lead-212. My team and I are excited for what’s to come.”

A critical enabler of ARTBIO’s success is its patented AlphaDirect^™ isotope isolation technology, which enables flexible production of clinical-grade lead-212 (²¹²Pb) and therapeutic doses daily. This is achieved by a strategically distributed manufacturing network, improving access and de-risking common supply chain issues.

“With a differentiated ART portfolio and integrated manufacturing approach, ARTBIO represents the ideal company that we look to partner with,” said Maha Katabi, Ph.D., General Partner at Sofinnova Investments. “Equally impressive is their proprietary generator technology which is a game-changer for navigating around supply and production challenges for radioisotopes in today’s complex environment.”

About ARTBIO
ARTBIO is a clinical-stage radiopharmaceutical company redefining cancer care by creating a new class of alpha radioligand therapies (ARTs). The unique ARTBIO approach selects the optimal alpha-precursor isotope (Pb212) and tumor-specific targets to create therapeutics with the potential for highest efficacy and safety. The company’s AlphaDirect^™ technology, a first-of-its-kind ²¹²Pb isolation method, enables a distributed manufacturing approach for the reliable production and delivery of ARTs. ARTBIO is advancing multiple pipeline programs with lead program AB001 in metastatic castration resistant prostate cancer currently in first in human trials. ARTBIO is shaped by a long-standing scientific legacy with nearly a century of pioneering work in radiation therapy conducted at the University of Oslo and Norway’s Radium Hospital. For more information, visit www.artbio.com, and follow us on LinkedIn.

SOURCE ARTBIO

Cybersecurity veteran Kevin Mandia joins board as defense tech company expands battlefield-ready solutions

BOZEMAN, Mont., July 29, 2025 — Reveal Technology, a veteran-founded defense technology company, today announced the close of a $30 million Series B funding round. The investment was led by Ballistic Ventures, with participation from defy.vc, Booz Allen Ventures, Shield Capital, Next Frontier Capital, and Madison Valley Partners.

Founded by former U.S. Marine Corps officers and Stanford technologists, Reveal is part of a new generation of defense tech companies winning the trust of both investors and frontline users. The funding reflects a growing focus on battlefield-ready platforms, with Reveal developing real-time intelligence tools for mission-critical environments that work without cloud or connectivity.

Reveal has increased its revenue tenfold year over year, with products actively deployed across the U.S. Army, Special Operations Command, Marine Corps, law enforcement agencies and foreign military forces including Ukrainian Defense Forces, UK Ministry of Defence, and Israeli Defense Forces. Current deployments include Farsight tactical mapping software integrated across Marine Corps units and Army Nett Warrior programs, while Identifi biometric systems are in production for Special Operations forces across United States Army Special Operations Command (USASOC), Marine Forces Special Operations Command (MARSOC), and Naval Special Warfare (NSW) units.

As part of the Series B investment, Kevin Mandia, Co-founder and General Partner of Ballistic Ventures, will join Reveal’s board of directors. A former U.S. Air Force officer and founder of Mandiant, Mandia brings deep experience in cybersecurity and scaling national security companies. He joins Gen. Peter Pace, former Chairman of the Joint Chiefs of Staff, and Les Craig, a former CIA tech operations and Army Infantry officer.

“On the frontlines, whether a global conflict or a public safety operation, success increasingly hinges on having access to the best intelligence available offline, under fire and in real time. That’s exactly what Reveal delivers,” said Mandia. “Reveal’s technology accelerates human decision-making where and when it matters most. It’s built by people who have lived the mission, and we’re proud to support Garrett and the team.”

“Investors are starting to see what operators have known for years: the most valuable tools are the ones that work when everything else breaks down. This financing helps us double down on building products that work offline, under fire, and in real time,” said Reveal CEO and founder Garrett Smith, who continues to serve as a Marine Corps reserve officer, and who co-founded the company in December 2018 after experiencing operational technology gaps during his combat service.

Reveal positions itself as a software-first alternative to traditional defense primes, delivering offline platforms built for the tactical edge. The company’s flagship products include Farsight, which converts drone video into 3D maps on smartphones without internet connectivity, and Identifi, a mobile biometrics system for human identity vetting in tactical environments. Its product roadmap includes expansion into the electronic warfare and cyber domains, as well as technologies enabling autonomy and decision speed for human employment of tactical robotics.

“Reveal is building one of the most important defense technology platforms of our time, one that brings real-time, mission-critical intelligence directly to the edge. Their ability to operate without the cloud or constant connectivity is a game-changer for teams in the field,” said Neil Sequeira, Co-Founder and Managing Director of defy.vc. “We were drawn to Garrett and the team from its inception due to their deep operational experience, technical rigor, and unwavering commitment to the warfighter. Defy is proud to support Reveal as they scale into a multi-product company delivering cutting-edge, decentralized solutions for national security.”

Reveal Technology was founded in December 2018 and is based in Bozeman, Montana. The company has received previous funding, including an $11.2 million Series A round in 2024 led by Next Frontier Capital.

About Reveal Technology, Inc.
Reveal Technology is a veteran-founded defense technology company building the ecosystem for autonomy at the tactical edge. Founded by former U.S. Marine Corps officers and Stanford technologists, Reveal delivers offline intelligence platforms that work when connectivity doesn’t, enabling real-time decision-making in contested environments. The company’s flagship products, Farsight (3D mapping from drone video) and Identifi (mobile biometrics), are deployed across U.S. Army, Special Operations Command, Marine Corps, and international forces. Based in Bozeman, Montana, with a team that is 50% active military and veterans, Reveal Technology is dedicated to providing warfighters with mission-critical tools that work offline, under fire, and in real time.

Ballistic Ventures
Ballistic Ventures is a venture capital firm solely dedicated to early-stage cybersecurity and cyber-related companies. The partners have spent their entire careers defending against every cyber threat conceivable. Members of the firm have founded, operated, and funded over 100 successful cybersecurity firms – including Abnormal Security, AlienVault, ArcSight, Fortify, Mandiant, and Shape Security – led over 10,000 security professionals globally, and have 40+ years of experience in venture capital. Our experience provides entrepreneurs impactful support from people focused on the same mission. Our networks and relationships open doors for our founders. Learn more at ballisticventures.com.

About defy.vc
Founded in 2016, defy.vc is a Silicon Valley based early stage venture capital firm. Defy was founded to invest in entrepreneurs and companies looking to solve complex problems. Defy’s focus is to help early stage companies mature and scale into companies ready for growth capital. The firm’s team has more than 50 years of venture experience, successful operating backgrounds, and actively helps successful entrepreneurs grow companies from inception through exit. Connect with defy at https://defy.vc/ and @defyvc.

SOURCE Reveal Technology, Inc.

• IDB Invest and Banco Latinoamericano de Comercio Exterior (Bladex, NYSE: BLX), co-led a comprehensive financing package of up to $205 million for Tigo El Salvador to expand broadband infrastructure and support digitalization.
• The financing will help increase access to affordable smartphones and digital services, bridging the digital gap across El Salvador.

PANAMA CITY, July 28, 2025 — IDB Invest and Bladex are providing a financing package to Telemóvil El Salvador, S.A. de C.V. (Tigo), a subsidiary of Millicom International Cellular S.A., to support the expansion of Tigo’s fixed broadband network, enhance the capacity and quality of its mobile infrastructure, and refinance maturing debt.

The package includes a $150 million loan, co-structured by both institutions, with $75 million contributed by IDB Invest and $75 million by Bladex, as well as a $30 million Revolving Credit Facility (RCF), and a $25 million Digital Account Receivables Discount Facility, both fully provided by IDB Invest. The RCF will support the acquisition of specialized equipment, while the Digital Discount Facility will finance the sale or lease of smartphones and digital services to clients, broadening access to mobile broadband, especially for middle- and low-income users. Through this innovative facility, IDB Invest may purchase receivables from Tigo and provide liquidity for device financing, helping close the affordability gap in handset access.

As data traffic is expected to surge in the coming years, expanding and upgrading network infrastructure is crucial to improving productivity, digital inclusion, and economic resilience. By enhancing broadband services, the project aims to unlock access to digital education, telehealth, and e-commerce opportunities for underserved populations.

About IDB Invest

IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $21 billion in assets under management and over 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website www.idbinvest.org/en.   

About Bladex

Bladex is a multinational bank founded in 1979 by the central banks of Latin America and the Caribbean to promote trade finance and economic integration in the region. Headquartered in Panama, with representative offices in Argentina, Brazil, Colombia, Mexico and an agency in the United States, the Bank provides financial solutions to institutions and corporations throughout the region. Listed on the New York Stock Exchange (NYSE: BLX) since 1992 and on the Mexican Stock Exchange for more than 10 years, Bladex has consolidated its presence in the international financial markets. Its shareholder base includes central banks, government entities and banks from 23 Latin American countries, as well as institutional and private investors.

About Tigo El Salvador

Tigo, the commercial brand of Millicom, has been driving El Salvador’s digital evolution since 1992. With mobile coverage reaching over 95% of the country, it leads in telecommunications and digital services. Tigo offers high-speed internet, mobile, cable TV, and access to top streaming platforms. It also offers exclusive sports content through Tigo Sports. Through Tigo Business, it supports companies of all sizes with tailored connectivity solutions. And with Tigo Money, it promotes financial inclusion by delivering secure, tech-driven financial services to all Salvadorans.

Contact:

Juan David Muñoz
VPA de Estructuración y Sindicaciones
Email: [email protected]
www.bladex.com      

SOURCE Banco Latinoamericano de Comercio Exterior, S.A. (Bladex)

DOWNERS GROVE, Ill., July 28, 2025 — Indvestia Ventures LLC has officially filed a lawsuit in DuPage County Circuit Court against Dirty Dough Franchising LLC and its successor entity, Craveworthy LLC, citing breach of contract .

In 2023, Indvestia entered into a multi-state franchise development agreement that granted exclusive rights to expand Dirty Dough throughout Illinois, Wisconsin, and Northwest Indiana. Relying on representations from Dirty Dough’s leadership, Indvestia invested significant capital and began building a pipeline of franchisees across the region.

The suit alleges Dirty Dough failed to honor its obligations, including non-payment of agreed-upon franchise and royalty fees, and the failure to maintain legally required franchise registrations in Indiana—thereby obstructing Indvestia’s ability to exercise its development rights.

In early 2024, Craveworthy Brands—a Chicago-based restaurant group led by former Jimmy John’s CEO Gregg Majewski—acquired Dirty Dough and, as the legal successor, assumed its assets and liabilities. Despite this, Craveworthy has yet to fulfill the contractual obligations that Indvestia alleges are owed under the agreement.

Craveworthy markets itself as a “growth accelerator” for emerging restaurant concepts—recently announcing high-profile partnerships with Shaquille O’Neal’s Big Chicken and Jon Taffer’s Taffer’s Tavern. According to Vick Mehta, Principal of Indvestia Ventures, “We believe in holding our partners accountable to the agreements they sign and the entrepreneurs they rely on. It’s unfortunate that Craveworthy appears to prioritize brand promotion and celebrity partnerships while disregarding the obligations owed to those helping build its foundation.”

“We look forward to our day in court,” Mehta added. “This case is not just about a broken promise—it’s about protecting the integrity of the franchising ecosystem and ensuring those who invest in good faith are treated fairly.”

Indvestia Ventures is a strategic subsidiary of Indvestia Capital, an investment arm focused on fueling the expansion of high-potential emerging brands and startups across the retail landscape. By leveraging its deep experience in commercial real estate and retail development, Indvestia Ventures not only provides growth capital—but also strategic support, site selection guidance, and operational expertise to help brands scale faster and smarter.

SOURCE Indvestia Capital