Lumin Digital raises capital to further accelerate its business growth and continue the Company’s momentum 

SAN RAMON, Calif., Dec. 2, 2024 — Lumin Digital, a leading cloud-native digital banking provider, today announced it has raised over $160M in growth equity financing, led by Light Street Capital, NewView Capital, and Partners Group, acting on behalf of its clients.

Lumin Digital plans to leverage the funding to accelerate its strategic growth initiatives, focusing on innovation and driving greater value for financial institutions, their members, and shareholders. This investment underscores the transformative power of digital banking platforms to modernize the industry and deliver always-on, customer-centric experiences.

“This is a powerful endorsement of Lumin Digital’s impact on the industry and enables us to expand our product offerings while preserving our culture of delivering exceptional value to our clients and their members,” said Jeff Chambers, CEO of Lumin Digital. “We are grateful for the support of our investors who share our vision and commitment to transforming the digital banking experience.”

“Lumin Digital’s innovative platform, exceptional leadership, and commitment to delivering outstanding value to clients and their members are redefining the digital banking experience and have set the company apart as a true industry leader,” said Kevin Sullivan, Partner at Light Street Capital. “We are excited to support Lumin Digital’s growth.”

“Lumin Digital’s impressive traction and impactful approach to digital banking have positioned it as a true leader in the financial services industry,” said Ankit Sud, Partner at NewView Capital. “We look forward to partnering with Lumin Digital as the company continues to scale and deliver exceptional value to financial institutions and their members.”

“Lumin Digital’s cutting-edge, cloud-native platform is transforming how financial institutions engage with their members, setting a new standard for personalized, seamless digital experiences,” said Sanjay Ravi, Managing Director at Partners Group.

“We are proud to partner with Lumin as the company continues to drive innovation and revolutionize the industry,” added Will Chen, Managing Director at Partners Group.

Velera, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider, remains Lumin Digital’s primary investor.

“From the very beginning, Velera’s board and management have embraced and invested in Lumin Digital’s vision for revolutionizing the digital banking industry,” said Chuck Fagan, CEO of Velera and chairman of Lumin Digital’s Board of Directors. “That investment has exceeded expectations, and we are proud to welcome new growth partners.”

Founded in 2016, Lumin has continued to experience exceptional and intentional growth — repeatedly exceeding its annual financial goals while consistently improving gross margin, operating efficiencies, and net retention. Over the past year, Lumin achieved a revenue growth rate of over 60%. Lumin’s 10-year product and client expansion strategy stays true to its foundational building blocks — great employees, innovative products, exceptional service, and disciplined and predictable growth. With customer centricity at the center of Lumin’s core values, the company is dedicated to driving innovation forward for the success of its clients and their members. 

FT Partners served as the exclusive strategic and financial advisor to Lumin Digital on this transaction.

About Lumin Digital
Lumin Digital is the leading, future-ready digital banking solution powering remarkable growth for financial institutions across the United States. Combining innovation, data, and speed, Lumin’s disruption-proof platform was born in the cloud to stay ahead of the evolving expectations of retail and business banking users. With Lumin Digital’s unique approach, our clients innovate and scale at their own pace, optimize digital banking ROI, and create a strong digital relationship with their customers. For more information, visit lumindigital.com.

About Light Street Capital
Light Street Capital is a global investment firm focused on identifying and investing in disruptive technology businesses across both public and private markets. Headquartered in Palo Alto, Light Street sits at the epicenter of innovation, utilizing its deep network of technology executives and venture capitalists to study emerging trends, identify leading growth companies, and partner with exceptional management teams who are building the next generation of enduring technology businesses. Light Street manages capital across several public fund strategies in addition to its concentrated dedicated private growth investing business. Light Street’s private investments include companies such as Chime, Gitlab, Pinterest, Scale AI, Slack, SmartHR, Toast, Uber and Unity, among others.

About NewView Capital
NewView Capital (NVC) is a venture firm dedicated to driving long-term value in the growth stage. With $3 billion in assets under management, NVC tailors capital to the needs of high-potential technology companies and partner investors, investing on a primary, secondary, or hybrid basis. The firm complements flexible funding with the operational impact and trusted connections needed to realize scale. NVC’s portfolio features category-defining companies in fintech, enterprise software, and consumer technology, including Plaid, Modern Treasury, Human Interest, Forter, Apollo.io, and Scopely.

About Partners Group
Partners Group is one of the largest firms in the global private markets industry, with around 1,800 professionals and approximately USD 150 billion in overall assets under management. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, and royalties. With its heritage in Switzerland and primary presence in the Americas in Colorado, Partners Group is built differently from the rest of the industry. The firm leverages its differentiated culture and its operationally oriented approach to identify attractive investment themes and to transform businesses and assets into market leaders. For more information, please visit www.partnersgroup.com or follow us on LinkedIn.

About Velera
Velera, formerly PSCU/Co-op Solutions, is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers.

About FT Partners
Financial Technology Partners’ U.S. Investment Banking business is conducted through FTP Securities LLC, a member of FINRA and SIPC. FTP Securities LLC is a FINRA registered broker dealer (www.finra.org) and member of SIPC (www.sipc.org). FTP Securities LLC does not offer or sell securities to, or carry accounts for, retail customers. FTP Securities LLC does not make a market in any security. These registrations and memberships in no way imply that FINRA or SIPC have endorsed any of the entities, products, or services discussed herein.

SOURCE Lumin Digital

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SANTA CLARA, Calif., Dec. 2, 2024 — Tenstorrent is announcing that it has closed over $693M in its Series D funding round at a pre-money valuation of $2B.   Samsung Securities and AFW Partners led the round, which was oversubscribed due to strong demand from investors. Samsung and AFW both have deep relationships with Tenstorrent, and a strong history of investing in pioneering technology companies.

In addition to the leads, many notable investors joined the round including XTX Markets, Corner Capital, MESH, Export Development Canada, Healthcare of Ontario Pension Plan, LG Electronics, Hyundai Motor Group, Fidelity Management & Research Company, Baillie Gifford, Bezos Expeditions, and more.

“We are excited by the breadth of investors that believe in our vision,” said Keith Witek, Chief Operating Officer of Tenstorrent.   “If you look at this group, you see a balance of financial investors and strategic investors, as well as some notable individuals that have conviction in our plans for AI.  They respect our team, our technology, and our vision.  They see the ~$150M in deals closed as a strong signal of commercial traction and opportunity in the market.”

Tenstorrent builds and sells computers for artificial intelligence that are built using its Tensix cores.   In addition to selling hardware, the open-source software stacks really set Tenstorrent apart from other players in the market. Tenstorrent licenses AI and RISC-V intellectual property to customers that want to own and customize their silicon. 

Tenstorrent will use the Series D funding to build out open-source AI software stacks, hire developers, expand its global development and design centers, and build systems and clouds for AI developers. 

“Our investors are great,” said Jim Keller, CEO of Tenstorrent.  “During the fundraising process I was impressed by how interested our investors were in our open-source approach to software.  They realize that the way to win is to get developers on board by giving them all the tools they need to own their own technology. “

“AFW Partners is dedicated to investing in innovative and disruptive technologies that we believe will change the world, with a specific focus on mobility innovation,” said Bonil Koo, Managing Director at AFW Partners, who leads the Series D round with Samsung Securities. “Tenstorrent’s momentum in the market, its innovative roadmaps filled with cutting edge technology, and open-source software are an unbeatable combination. We are thrilled to participate in their journey and success.”

“We find Tenstorrent’s open-source driven approach refreshing, especially in the proprietary and often secretive world of AI accelerators,” said Joshua Leahy, Chief Technology Officer, XTX Markets.  “We’re excited to support them as they bring their ambitious roadmap to market.”

About Tenstorrent
Tenstorrent is a next-generation computing company that builds computers for AI. Tenstorrent is headquartered in North America and has locations in      Toronto, Austin, and Silicon Valley, and global offices in Belgrade, Tokyo, Bangalore, Singapore, and Seoul. Tenstorrent brings together experts in the fields of AI software, computer architecture, silicon design, and advanced systems. Tenstorrent is backed by Eclipse Ventures and Real Ventures, among others. Learn more @ tenstorrent.com.

About Samsung Securities
Samsung Securities is Korea’s leading securities firm offering customer-focused, solutions-oriented retail brokerage and wealth management services for individual investors. We also offer institutional brokerage, investment advisory, investment banking and capital markets services for public and private enterprises.

About AFW Venture Partners
AFW Venture Partners is a venture capital firm aiming to make the future a better place for children. To achieve this goal, they channel their investment in technologies that benefit humankind. Their primary area of focus is Mobility Innovation which, in their definition, covers various facets of technology advancement such as electric and hydrogen engines, robotics, aerospace and their enablers such as semiconductors, hardware components and system software.

Contact: Bob Grim, [email protected] 

SOURCE Tenstorrent

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DUBAI, UAE, Dec. 2, 2024 — AdvantageClub.ai, a leader in employee engagement solutions, has raised $4 million in its latest funding round, bringing its total funding to $11 million. The round was led by Axilor Ventures, with participation from AFG Ventures, Prasanna Sarkar (ex-CTO of Rippling), Bytez Ventures, and existing investors.

They plan to use the funds to strengthen its presence in the US and Asia, where company has already seen success. The company will also focus on expanding its product suite in employee recognition, rewards, and engagement, with plans to introduce new tools and features to enhance employee experience.

Sourabh Deorah, CEO & Co-founder of AdvantageClub.ai, expressed excitement about the investment from investors, saying, “This funding will help us double down on the US and Asia, expand our product suite, and continue building AI-driven solutions like Adva to engage employees in new ways.” COO & Co-founder Smiti Bhatt Deorah added, “Our employee-first approach has made us the top choice for organizations, we win 65-70% of new recognition deals in Asia and have expanded successfully into the US.”

Ganapathy Venugopal, founder and CEO of Axilor Ventures, the lead investor in this round, has been a long-time supporter of AdvantageClub.ai said,“Companies are in search of good options to improve employee engagement and strengthen their employer brand. AdvantageClub.ai’s personalised, scalable and global platform offers a best-in-class solution to employers who put their employees first. We are excited to continue our partnership with Sourabh and Smiti as they look at their next phase of exciting growth.”

About AdvantageClub.ai

AdvantageClub.ai is a global AI powered employee engagement and rewards platform with offerings like rewards & recognition, flexible benefits, surveys, moments that matter, and communities on a single platform. AdvantageClub.ai has over 5 million users, a presence in over 100+ countries, 1000+ clients, and 10,000+ redemption options. Founded in 2016 by UCLA postgraduates Sourabh and Smiti Deorah, AdvantageClub.ai leverages AI, data mining, and analytics to revolutionize employee engagement. Headquartered in San Francisco, AdvantageClub.ai has an impressive client portfolio featuring BCG, Rakbank, Havelock One, Tabreed, SGM, and many more.

Photo: https://mma.prnewswire.com/media/2570728/Sourabh_Deorah_and_Smiti_Bhatt.jpg

SOURCE AdvantageClub.ai

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TORONTO, Nov. 29, 2024 — Soundpays Corp. (Soundpays), a pioneer in ultrasonic sound cue technology, is proud to announce its activation with the Houston Texans, marking a significant milestone in the company’s mission to transform fan engagement across the sports and entertainment industry. During the Texans’ game against the Detroit Lions on Sunday, November 10, 2024, Soundpays successfully delivered one of the team’s most dynamic and interactive fan experiences, showcasing the full power of its patented technology.

Soundpays’ innovative platform uses inaudible sound cues broadcast through existing stadium speakers to enable real-time engagement through fans’ mobile devices. This technology allows fans to participate in immersive light shows, access exclusive offers, purchase team merchandise, and participate in interactive moments during live events.

“Partnering with the Houston Texans is a proud moment for Soundpays,” commented Peter Awad, President of Soundpays. “This game was a testament to what our technology can achieve, and we’re excited to build on this success as we engage with more NFL teams and expand into other sports leagues, including MLB, the NBA, and beyond.”

Continued Growth and Funding Success

Following the successful completion of its required funding round, Soundpays is accelerating its operations to meet growing demand from the sports and entertainment markets. With this funding, the company is positioned to expand its partnerships, refine its technology, and deliver even greater fan experiences across the globe.

“We’re grateful to our partners, investors, and supporters who have helped us bring Soundpays to this pivotal moment,” added Awad. “This is just the beginning of a journey to redefine how fans interact with their favorite teams, whether they’re in the stadium or at home.”

For further information, please contact:
Paul Eastwood
Director, Business Development
[email protected]
416-505-2775

About Soundpays Corp.
Soundpays is a cutting-edge technology company that uses patented ultrasonic sound cues to create real-time, interactive experiences for fans.  From stadiums to broadcasts and beyond, Soundpays empowers teams, brands, and venues to connect with consumers in innovative and meaningful ways.  By enhancing audience interaction, Soundpays unlocks new revenue opportunities and delivers unforgettable experiences.

For more information, visit: www.soundpays.com

SOURCE Soundpays

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The series A investment round secures resources for advancing global Phase I/II clinical programs and orchestrating the company’s global footprint expansion.

BEIJING, Nov. 28, 2024 — Allink Biotherapeutics, a clinical-stage biotechnology company pioneering next-generation bispecific antibody and antibody-drug conjugate (ADC) therapeutics, today announced successful completion of an $42 million Series A financing. The financing round was led by Lanchi Ventures, a preeminent global early-stage technology investor known for backing breakthrough innovations, with participation from an elite syndicate of new investors including Yuanbio Venture Capital, Legend Capital and C&D Emerging Industry Equity Investment, alongside strong support from existing shareholders Gaorong Ventures and Med-Fine Capital.

“Since company inception a little over a year ago, AllinkBio has rapidly advanced from lead asset PCC to clinical development stage,” said Hui Feng, Ph.D., Founder and Chief Executive Officer of AllinkBio, “We are grateful for the continued support from existing shareholders and delighted to welcome new investors who recognize both our scientific excellence and capability of translating scientific findings into clinical applications. Their support enables us to accelerate the development of our diverse pipeline spanning multiple modalities including next-generation ADCs and bispecific antibodies targeting oncology and immunology diseases. Looking ahead, we are poised to achieve multiple pipeline milestones in the coming months as we pursue our long-term mission of bringing innovative therapeutics to patients with significant unmet medical needs.”

“AllinkBio’s exceptional execution speed and quality in advancing its lead program from preclinical to clinical stage, led by Dr. Feng, one of the leading figures in China’s biopharmaceutical industry, demonstrates the company’s high competitiveness in the field,” commented Lanchi Ventures. “AllinkBio’s innovative approach to ADC development presents a compelling opportunity in the targeted oncology therapeutics space.”

The Series A financing proceeds will be deployed to advance:

• Global clinical development of lead candidates ALK201 and ALK202 through Phase 1 studies in Australia, the United States and China
• Enrichment of current portfolio by developing multiple highly competitive new assets in oncology and immunology
• Further development of the company’s proprietary bispecific antibody and ADC technology platform
• Global footprint expansion to achieve world prominence

The successful completion of this round of financing marks a pivotal moment in AllinkBio’s growth trajectory. With the new financial resources in place, combined with the company’s efficient R&D capabilities, AllinkBio is well-positioned for expedited growth toward new heights on both its product and corporate development fronts.

About AllinkBio

Founded in 2023, AllinkBio is a clinical stage biotechnology company leveraging its innovative proprietary platforms in bispecific antibodies and ADCs to develop a diverse pipeline of First-in-Class (FIC) and Best-in-Class (BIC) therapeutics. AllinkBio aims to develop treatment paradigm shifting new drugs for patients in the oncology and immunology disease areas and address critical unmet medical needs globally.

About Lanchi Ventures

Lanchi Ventures (LCV), a leading early-stage venture capital firm with offices in Singapore, Hong Kong, and Beijing, focuses on investing in entrepreneurs who leverage technological innovations to create a sustainable impact. With its heritage in Silicon Valley since 1998, Lanchi Ventures (LCV) manages over $2 billion in capital through multiple funds and has invested in over 200 portfolio companies, including Gaussian Robotics, TCab, UniUni, Agibot, Galbot, Moonshot, Li Auto (NASDAQ: LI), QingCloud (688316.SH), WaterDrop (NYSE: WDH), Ganji/58.com, Guazi, etc. The firm has been recognized by Forbes, Fortune, Preqin, and others. For further information, please visit https://www.lanchiventures.com.

SOURCE Lanchi Ventures

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The series A investment round secures resources for advancing global Phase I/II clinical programs and orchestrating the company’s global footprint expansion.

SHANGHAI, Nov. 28, 2024 — Allink Biotherapeutics, a clinical-stage biotechnology company pioneering next-generation bispecific antibody and antibody-drug conjugate (ADC) therapeutics, today announced the successful completion of a $42 million Series A financing. The financing round was led by Lanchi Ventures, a preeminent global early-stage technology investor known for backing breakthrough innovations, with participation from an elite syndicate of new investors including Yuanbio Venture Capital, Legend Capital and C&D Emerging Industry Equity Investment, alongside strong support from existing shareholders Gaorong Ventures and Med-Fine Capital.

“Since our company’s inception a little over a year ago, AllinkBio has rapidly advanced from lead asset PCC to clinical development stage,” said Hui Feng, Ph.D., Founder and Chief Executive Officer of AllinkBio. “We are grateful for the continued support from existing shareholders and delighted to welcome new investors who recognize both our scientific excellence and capability of translating scientific findings into clinical applications. Their support enables us to accelerate the development of our diverse pipeline spanning multiple modalities including next-generation ADCs and bispecific antibodies targeting oncology and immunology diseases. Looking ahead, we are poised to achieve multiple pipeline milestones in the coming months as we pursue our long-term mission of bringing innovative therapeutics to patients with significant unmet medical needs.”

“AllinkBio’s exceptional execution speed and quality in advancing its lead program from preclinical to clinical stage, led by Dr. Feng, one of the leading figures in China’s biopharmaceutical industry, demonstrates the company’s high competitiveness in the field,” said Lanchi Ventures. “AllinkBio’s innovative approach to ADC development presents a compelling opportunity in the targeted oncology therapeutics space.”

“Our continued investment in AllinkBio reflects our strong conviction in the company’s scientific excellence and execution capabilities,” said Jiangtao Yu, Ph.D., Managing Director at Gaorong Ventures. “Since our initial investment, we have been impressed by the company’s rapid advancement in both platform development and pipeline progression. We are excited to strengthen our commitment through this Series A financing.”

“We are delighted to have witnessed the fast and steady development of AllinkBio. Dr. Feng and his team’s dedicated work in progressing two highly promising ADC drug candidates into clinical stage within one and half years since company inception has been really impressive. We believe the company has great potential and will continuously support its endeavor in developing innovative drugs for patients in need globally.” said Angel Round lead investor Vince Deng, Ph.D., Partner of Med-Fine Capital.

The Series A financing proceeds will be deployed to advance:

• Global clinical development of lead candidates ALK201 and ALK202 through Phase 1 studies in Australia, the United States and China
• Enrichment of current portfolio by developing multiple highly competitive new assets in oncology and immunology
• Further development of the company’s proprietary bispecific antibody and ADC technology platform
• Global footprint expansion to achieve world prominence

The successful completion of this round of financing marks a pivotal moment in AllinkBio’s growth trajectory. With the new financial resources in place, combined with the company’s efficient R&D capabilities, AllinkBio is well-positioned for expedited growth toward new heights on both its product and corporate development fronts.

About AllinkBio
Founded in 2023, AllinkBio is a clinical stage biotechnology company leveraging its innovative proprietary platforms in bispecific antibodies and ADCs to develop a diverse pipeline of First-in-Class (FIC) and Best-in-Class (BIC) therapeutics. AllinkBio aims to develop treatment paradigm shifting new drugs for patients in the oncology and immunology disease areas and address critical unmet medical needs globally.

About Lanchi Ventures
Lanchi Ventures (LCV), a leading early-stage venture capital firm with offices in Singapore, Hong Kong, and Beijing, focuses on investing in entrepreneurs who leverage technological innovations to create a sustainable impact. With its heritage in Silicon Valley since 1998, Lanchi Ventures (LCV) manages over $2 billion in capital through multiple funds and has invested in over 200 portfolio companies, including Gaussian Robotics, TCab, UniUni, Agibot, Galbot, Moonshot, Li Auto (NASDAQ: LI), QingCloud (688316.SH), WaterDrop (NYSE: WDH), Ganji/58.com, Guazi, etc. The firm has been recognized by Forbes, Fortune, Preqin, and others. For further information, please visit https://www.lanchiventures.com.

About Gaorong Ventures
Founded in 2014, Gaorong Ventures is focused on early and growth-stage investments, with a specialty in new technology, healthcare, internet and new consumption. We have 24 IPO portfolios, amongst which, many of them have advanced to be leaders in their perspective industries, including Pinduoduo (NASDAQ: PDD), Huya (NYSE: HUYA), BOSS Zhipin (NASDAQ: BZ), Roborock (688169.SH), etc. We continue to invest in the healthcare industry and are committed to discovering and accompanying leading companies in the fields of drug discovery, medical instrumentation and testing, digital health and medical services. Representative examples include Alto Neuroscience（NYSE: ANRO）, ProfoundBio (acquired by Genmab）, Sironax, Cornerstone Robotics, HYGEA, United Family Healthcare, Saint Bella, etc.

About Yuanbio Venture Capital
Yuanbio Venture Capital is a leading healthcare investment firm focusing on early and growth stage companies. Based in Suzhou bioBay, YuanBio keeps a global vision. With both RMB and USD funds, YuanBio has built up a portfolio of over 190 companies, covering biotech, medical devices, IVD, and healthcare services fields. The firm has seen great investment returns with 19 of its portfolio companies listed on the STAR, Hong Kong Stock Exchange and Nasdaq. YuanBio has received multiple awards as one of the leading healthcare VCs in China. With passion, dedication and expertise, YuanBio strives to become one of the most successful healthcare venture capital firms in China.

About Med-Fine Capital
Med-Fine Capital is a leading healthcare-focused venture capital firm in China, known for its capability of identifying promising entrepreneurs and investing in their NewCo formation round. Med-Fine manages multiple RMB and USD funds, investing across the healthcare sector including biotech, medical devices, diagnostics, healthcare technology and services. To date, it has grown a portfolio of approximately 70 companies, including Hanyu Medical, Mabworks, ImmVira Pharma, Zion Pharma, LYNK Pharmaceuticals, Eccogene, Pharma Legacy, MagAssist, Alebund, Allorion Therapeutics, Allink Biotherapeutics, Castalysis Bioscience, and VelaVigo. Med-Fine is dedicated to becoming a reputable investment institution with global impact.

About Legend Capital
Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, Seoul and Singapore. It currently manages USD and RMB funds of over US$10 billion and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Over the years, Legend Capital has become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors. Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

About C&D Emerging Industry Equity Investment
C&D Emerging Industry Equity Investment is a professional equity asset management institution under C&D Group (Fortune Global 500). Established in 2014, our mission is to “create new value and help more emerging enterprises achieve better development.” We specialize in new economic fields such as healthcare, advanced manufacturing, TMT/consumption.

SOURCE Allink Biotherapeutics

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As robotics investing climbs out of its 2023 slump, humanoid robotics pioneer WorkFar — which has not received any funding from venture capital — is ready to produce at the level of competitors already receiving billions of investment dollars.

SANTA CLARA, Calif., Nov. 27, 2024 — There’s nothing quite like the tenacity of a new company with a unique value proposition that directly addresses the needs of its target customer base. WorkFar Robotics, a business specializing in commercial humanoid service robots for industrial applications, has yet to get on the radar of today’s venture capitalists — but that hasn’t stopped them from reaching the mass-producing stage.

Many companies, particularly those in the robotics industry, are reliant on venture capital, and they can go for years — or even a decade — without turning a profit. Building a cash-flowing robotics company with no investment aside from hard work, creativity, and business acumen is a feat rarely accomplished. Yet WorkFar has managed to achieve the same level of progress as competitors receiving $100 million to over $1 billion in investment funding.

WorkFar’s Business Model: An Autonomous, Remote-operatable Robot for $0 down

WorkFar’s offering is unique in the world of industrial robotics. The industry’s most common business model is to sell an expensive product to a manufacturer and possibly provide some integration services. For companies unable to afford the high price tag, certain robotics manufacturers offer a subscription-based “Robot-as-a-Service.” WorkFar takes this a step further by allowing clients to lease both a robot and a trained, remote operator on a monthly basis without a down payment.

The combination of sophisticated humanoid robot, AI-enhanced programming, and an optional human operator constitutes a turnkey solution for warehouses and manufacturers dealing with aggravating challenges like long-lasting labor shortages, concerns around worker safety and burnout, and issues with efficiency and consistency. Since the optional teleoperator is remote-based, WorkFar can leverage the global workforce to support its customers.

The WorkFar “Syntro” robot uses virtual reality eye tracking and AI algorithms to target and grasp objects at the operator’s direction, and the operator gets feedback on object pick-up through haptic gloves. The robot’s “core logic” is human intelligence, which — despite rapid advances in AI — still can’t be beat.

WorkFar’s Manufacturing Expertise goes back Decades

Although the ‘Syntro’ robot is brand-new, WorkFar’s US based manufacturing facility has over 40 years of experience producing plastic and metal parts for industrial machinery and consumer products. This expertise is now being leveraged to mass produce humanoid robot in-house — an arrangement that cuts out the middleman and leads to more efficient operations. With supply chain issues wreaking havoc on robotics companies’ operations for the past several years, this is a major advantage.

Robotics Investing dipped in 2023, but it’s Coming Back strong with AI and Humanoid Technology

Investment in the robotics industry hit a five-year low last year, particularly in the area of autonomous vehicles (AVs). This was partially a result of a widespread market correction within venture capital investing, but the legislative concerns and negative press surrounding AVs didn’t help. The slump was temporary, however, and robotics venture capital is starting to rise again rapidly, with vertical-specific robotics companies focusing on logistics, security, and medical applications leading the way.

One thing that’s making robotics investing much more appealing is the awe-inspiring takeoff in artificial intelligence capabilities. AI models give robots the capacity to execute complex tasks like grasping unpredictably shaped objects much more smoothly and accurately. Even better, AI allows the robots to learn from each effort, rapidly increasing their accuracy and efficiency over time. Robot vision will gain clarity with improved object detection and image segmentation — essential tools for interacting “intuitively” with the environment.

With a design meant to evoke their maker, humanoid robots are poised to reap the greatest benefits from this rapid growth in AI. They show promise across multiple industries, ranging from manufacturing to healthcare to personal assistance. Once AI’s transformative capabilities became apparent, projections for the humanoid robot market ten years from now shot up from just $6 billion to almost $200 billion — or in some estimates, well over $24 trillion.

Sheer Business Acumen has propelled WorkFar to the point of Mass Production

Although the robotics investment outlook is getting brighter, the recent dip has prompted investors to be more discerning and focus on areas where robotic solutions can make important strides right now. Venture capitalists have seen plenty of technology demos that turn heads; now it’s time to back these up with solid business plans that show real returns on investment. With its robot-as-a-service offering at $0 down payment, this is WorkFar’s strong suit.

Even with rapid AI advances, this model will always benefit from the authority and decision-making power of human intelligence. This is central to WorkFar’s vision: a human-robot team that will unleash a new era of productivity, bringing collaborative efficiency to factories and facilities worldwide. This innovative solution takes into account what other solutions overlook: the fact that true productivity depends on human decision-making and robotic efficiency being intertwined, not isolated.

This vision is what has enabled WorkFar to grow on its own revenue in an industry that usually requires millions or even billions of dollars in venture capital. No longer a startup, this company has now pushed into a higher corporate level of investment based on business acumen alone. With a market-ready product that can be manufactured in WorkFar’s own factory, the humanoid robotics pioneer is stronger because it does not rely on venture capital. 

To inquire, contact us via www.WorkFar.com now!

Contact: [email protected]

SOURCE WorkFar Inc

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Series A investment led by NFX accelerates Constrafor’s mission to provide cutting-edge financial and AI-powered solutions for the construction industry

NEW YORK, Nov. 27, 2024 — Constrafor, a pioneering software provider for the construction industry, today announced the successful close of its $264 million Series A funding round. The financing, comprising an equity component of $14 million and a $250 million credit facility, has been led by NFX on the equity side, and Wafra and Crestline Investors on the credit side. The investment will accelerate Constrafor’s ambitious growth plans and cement its leadership in construction finance technology.

Constrafor is dedicated to tackling the construction industry’s most pressing challenges—tight margins, cash flow constraints, supply chain disruptions, and labor shortages. By strengthening relationships between subcontractors and General Contractors (GCs), Constrafor’s innovative technology and financial solutions drive meaningful impact.

The Constrafor technology platform modernizes how GCs manage subcontractor relationships, transforming inefficient processes into a streamlined digital command center. With integrated procurement tools, simplified invoicing, and the Discovery Network connecting GCs to a wide roster of subcontractors, the platform ensures efficient and organized subcontractor procurement and payment. To round-up the subcontractor administration process, Constrafor’s Prequal and its AI-powered Insurance CoPilot provide contractors with powerful solutions for streamlining insurance document management and automating full policy compliance reviews.

For subcontractors, Constrafor’s Early Pay Program (EPP) is a game-changer. It accelerates payments at competitive rates, easing cash flow pressures and eliminating lengthy payment cycles. Taking financial empowerment even further, the soon-to-launch Subcontractor CFO Suite will offer advanced tools, such as project-based accounting, supplier management, and enhanced financial controls—redefining financial management for the construction sector.

Anwar Ghauche, CEO and Cofounder of Constrafor, commented: “This Series A funding is testament to the critical need for Constrafor in the construction sector. We’re not just providing features or point solutions; we’re rewiring the construction industry’s financial operating system. With this investment, we’re poised to expand our reach and impact, helping more contractors build sustainable, profitable businesses.”

Douglas Reed, CTO and Cofounder, added: “This funding allows us to scale our AI capabilities, giving clients access to advanced technology. It streamlines operations and creates new opportunities in an evolving industry.”

Pete Flint, Partner at NFX, expressed his confidence in the company’s vision: “We’ve seen firsthand how marketplaces like Trulia, Zillow and DoorDash can leverage network effects to become dominant players in their industries. Constrafor is exhibiting similar traits, rapidly building a platform that has the potential to become the de facto service by empowering contractors and streamlining payments and financing in the construction industry.”

Rahul Vaid, Lead Partner at Crestline, added: “Given our extensive experience in real estate investment, we recognize how critical cash flow is for subcontractors. Constrafor’s innovative financing solutions address this need, enabling subcontractors to thrive in a competitive and capital-intensive industry. We are excited to support Constrafor’s mission to streamline cash flow management and empower the construction ecosystem.”

Paul Steinberger, Managing Director at Wafra, said: “Constrafor is reshaping the construction finance landscape. Its innovative financing tools, which are proving invaluable to contractors and subcontractors alike, are helping usher in a new paradigm in the industry. Wafra is delighted to support this ground-breaking operation.”

About Constrafor
Constrafor is the construction industry’s first vertically integrated supply chain finance and risk management platform. By leveraging advanced technology and innovative financial products, Constrafor empowers general contractors and subcontractors to optimize cash flow, mitigate risk, and streamline operations. Visit our website to learn how Constrafor can transform your business operations and financial management.

About NFX:
NFX is a leading seed-stage venture firm based in San Francisco, CA and Herzlia, Israel, started by technology entrepreneurs who built 10 companies with more than $10 billion in exits. They are experts in networks, platforms and marketplaces across multiple industries and geographies. To learn more, visit www.nfx.com and follow @NFX on Twitter.

About Wafra:
Wafra is a global alternative investment manager with approximately $28 billion of assets under management across a range of alternative assets, including real assets, real estate, strategic partnerships, and special situations. By providing flexible and accretive capital solutions and focusing on long-term partnerships, Wafra aligns and partners with high quality asset owners, companies, and management teams. Headquartered in New York, Wafra has additional offices in London and Bermuda. www.wafra.com

About Crestline Investors:
Crestline Investors, Inc is an alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York, Toronto, and Tokyo. The firm has approximately $18 billion in assets under management (as of March 31, 2024), and is specialized in private credit strategies, offering a diverse range of investment solutions across its direct lending, opportunistic, and portfolio finance platforms. For more information, visit www.crestlineinvestors.com.

SOURCE Constrafor

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The 37 investments will address mental health, housing, legal services, social connection, and more

NEW YORK, Nov. 27, 2024 — The Bob Woodruff Foundation is proud to announce an investment of over $4.7 million dedicated to ensuring that veterans, service members and their families have stable and successful futures. The latest grant portfolio addresses key issues for veteran communities, including mental health, housing, legal services, education, employment and social connection.

This new investment brings this year’s total investments to over $10 million across 73 grants – a new record for the Bob Woodruff Foundation. The fall investments include seven new grantee partners, contributing to a total of 17 new grant recipients in 2024.

Of the 37 investments announced today:

• Nine address veteran mental health through strengthening the mental health workforce, providing direct clinical care in military-connected communities and increasing access to intensive outpatient programming.
• Six programs support military children’s access to clinical mental health care.
• Five investments will provide outreach and peer support to connect veterans to crisis prevention resources.
• One investment will support student veterans across campuses in NYC and one in South Dakota while simultaneously supporting the next generation of social workers.
• Three investments will address employment outcomes for veterans and military spouses, with services spanning New York, Indiana, and North Carolina.
• Four investments will improve social connection for service members, veterans and their families through the arts, leadership programming, and mentorship.
• Ten investments will support more than 5,700 veterans experiencing or at-risk of homelessness by supporting direct emergency and transitional housing, and provide complementary services to address social determinants of health.
• Five investments will provide legal aid to ensure veterans gain access to earned financial and health benefits, prevent evictions, remove barriers to employment, and improve quality of life.

“Our fall grants fund programs and services that help veterans, service members, and their families navigate challenges they face and ensure they receive the support they’ve earned and deserve. We’re funding housing and job programs, food assistance, physical and mental health care, legal support, and more,” said Anne Marie Dougherty, CEO of the Bob Woodruff Foundation. “We’re proud to work with an incredible nationwide network of partners to make this impact possible in communities across the country.For more information on the funded organizations and their work, visit the 2024 fall grants portfolio highlights.

About the Bob Woodruff Foundation

The Bob Woodruff Foundation was founded in 2006 after reporter Bob Woodruff was wounded by a roadside bomb while covering the war in Iraq. Since then, the Bob Woodruff Foundation has raised awareness about the tough challenges veterans and military families are facing, and invested in solutions to help support them in the next chapter of their lives. To date, the Bob Woodruff Foundation has invested over $165 million to ensure that our nation’s veterans, service members and their families — those who stood for us — have stable and successful futures. Visit. www.BobWoodruffFoundation.org for more information.

Contact
Hillary Ovalle
M: +1 954 825 3065
[email protected] 

SOURCE Bob Woodruff Foundation

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