• Investment led by Dahlia Equity Partners, with participation from Ironspring Ventures, S3 Ventures, Benson Capital Partners, and others.
• Prokeep to build on its communication solutions for distributors by accelerating investment in proactive demand generation messaging capabilities already driving engagement and sales.
• New partnerships across industry leaders including LG, Paccar, High Bar Brands, JCI, Allied Air, and Schneider Electric.

NEW ORLEANS, Nov. 12, 2024 — Prokeep, the leading customer communication and engagement platform for distributors, announced today that it has successfully raised $25 million in a Series A funding round. The investment was led by San Francisco-based Dahlia Equity Partners with continued support from Ironspring Ventures, S3 Ventures, Benson Capital Partners, and others. This strategic funding will enable Prokeep to accelerate its growth and expand its demand generation capabilities designed for distributors.

Launched in 2016, Prokeep has quickly transformed the way distributors communicate and help customers get what they need fast. By centralizing inbound and outbound communication and workflow, Prokeep helps distributors build stronger relationships, increase efficiency, and grow sales. Now supporting more than 8,500 distributor locations, the platform has facilitated more than $11 billion in orders across North America by connecting distributors with more than 3.5 million tradespeople, mechanics, service people, and other professionals that businesses and consumers rely on daily.

“Our Series A funding marks a significant milestone for Prokeep,” said Jack Carrere, CEO and Co-Founder of Prokeep. “We are grateful for the confidence our customers and investors have shown in our vision. We have heard loud and clear from our customers that driving demand in a way that builds upon the relationships (in many cases generational relationships) they’ve already built is vital to their future, and we’re energized to use this new capital to accelerate this reality for them with a clear mission — empower proactive communication to build stronger relationships and drive sales. With the support of Dahlia Equity Partners and our existing investors, we are ready to continue delivering the innovation that unlocks more wins for distributors.”

The new funding will support the expansion of Prokeep’s demand-generation capabilities. These capabilities leverage insights from more than 60 million messages sent through the platform to drive the development of smarter, data-informed outreach resulting in an increase in sales of up to 300% for some customers. Building on early success and customer feedback, Prokeep has invested in data enrichment by leveraging AI models to help distributors extract conversation attributes. These insights include brand preferences, customer intent, and sentiment to enable more efficient and powerful sales enablement, marketing, and other proactive outbound activities. With Prokeep, users are armed with powerful tools to improve customer retention, build trust, and increase profits.

John Giannuzzi, Managing Partner at Dahlia Equity Partners, stated, “We are thrilled to lead Prokeep’s Series A funding round. Prokeep has proven itself as a crucial player in the distributor communication space, with a strong track record of delivering value to its customers. Prokeep is purpose-built for how distributors work and communicate with their customers, and we are excited about the opportunity to help distributors drive proactive demand, unlock new sales opportunities, and further enhance customer engagement.”

Trusted by industry leaders including ABC Supply, WinSupply, Johnstone Supply, City Electric Supply, NAPA, and Ferguson, Prokeep is more than a tool — it’s a partner in their journey to serve their communities more efficiently and proactively. With Prokeep, these teams have improved response times by 30%, gained back 9 hours weekly, and equipped themselves to seize every sales opportunity with accuracy and speed. With all of these operational advancements, distributors using Prokeep are able to improve the relationships that are at the core of their business — because relationships should be easy, not on hold. This new round of investment will allow Prokeep to deepen these relationships with new purpose-built solutions that modernize distribution without losing the humanity that sets them apart.

The funding round also reflects confidence in Prokeep’s recent partnerships with top manufacturers across the industry, including LG, Paccar Parts, High Bar Brands, JCI, Allied Air, and Schneider Electric. These partnerships demonstrate Prokeep’s commitment to building strong alliances across the supply chain that expand its platform’s capabilities and reach.

About Prokeep
Founded in 2016, Prokeep is distribution’s leading customer engagement software that centralizes digital inbound communication and unlocks an outbound sales engine — providing distributors with a better customer experience, more sales opportunities, and increased efficiency. Prokeep believes that relationships should be easy, not on hold, because relationships are at the heart of what distributors do; supply communities with what they need to keep going. That’s why Prokeep is dedicated to supplying distributors with what they need — an easier way to engage the fixers, the builders, and the DIYers in their communities so that progress can happen fast.

Prokeep centralizes customer inbound messages across multiple channels into one shared inbox accessible by the whole team while also enabling the ability to proactively text customers with order status updates and marketing promotions. Additionally, Prokeep connects to the tools distributors already use to get work done; unlocking text message automations and data syncing to make it even easier to manage business. Today, Prokeep is used by more than 8,500 distributor locations across North America, enabling more than 20 million conversations and more than $11 billion in revenue.

About Dahlia Equity Partners
Dahlia Equity Partners (“Dahlia”) is a private equity firm that invests in software companies that power core customer workflows. Dahlia partners with existing management teams to drive both growth and profitability through operating best practices, targeted growth initiatives, and accretive acquisitions. Dahlia is based in San Francisco, California.

Media Contact:
Brooks Young
Director of Marketing
225-715-8871
[email protected]

SOURCE Prokeep

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New data from Kruze Consulting Shows Startups’ Evolving Use of AI Tools and Commoditization of Large Language Models – 70% pay for AI, Average Monthly AI Spend Up 230% YoY

SAN FRANCISCO, Nov. 12, 2024 — The latest report from Kruze Consulting reveals a pivotal shift in how venture-backed startups are adopting artificial intelligence. What began as an AI “gold rush” is now maturing into a phase of strategic adoption, characterized by widespread integration of AI tools and the commoditization of Large Language Models. The data comes from over 1,000 venture-backed startups, with roughly 70% of startups in Kruze’s sample paying for at least one AI tool.

“As AI becomes a major line item for startups, founders are constantly evaluating how AI can optimize their operations—whether to boost developer productivity, reduce hiring costs, or streamline marketing tasks,” said Healy Jones, VP of Kruze Consulting. “Our unique dataset highlights the evolving strategies early adopters are using as they refine their AI investments.”

SaaS Leads AI Adoption
The report highlights notable differences in AI adoption rates by industry. SaaS startups are at the forefront, with 80% already leveraging AI tools to enhance products and streamline operations. In contrast, biotech and healthcare startups show slower adoption due to the highly specialized nature of their work, which limits the applicability of general-purpose AI tools.

The Rise of AI Commoditization 
With the majority of startups already paying for general-purpose LLMs, Kruze’s data signals the next phase of AI adoption: commoditization. As startups increasingly integrate multiple AI tools into workflows, switching between models from OpenAI, Anthropic, and others has become seamless and routine. The report finds price competition is a major driver, with startups rapidly shifting between providers when more affordable options become available.

Key Players in the AI Market: OpenAI Leads, But Faces Competition
The report confirms OpenAI’s stronghold as the top LLM provider, with 65% of startups in Kruze’s sample paying for its services. However, OpenAI’s dominance is being challenged as Anthropic and newcomer Perplexity gain ground, following the launch of competitive models in early 2024. This shift underscores the increasing ease with which startups can transition between providers and highlights the growing competition in the AI space.

AI Spend Continues to Grow
As startups deepen their reliance on AI, Kruze’s data reveals a notable increase in AI spending. The average monthly spend per startup has risen from $2,000 in early 2023 to $5,000–$6,000 in 2024. While affordable subscription models like OpenAI’s ChatGPT remain popular, the number of seats and the use of API-based solutions are driving AI spend upward.

The Future of Innovation in Tech
The commoditization of AI marks a new chapter in the startup ecosystem. With LLMs now more accessible, Kruze anticipates that innovation will increasingly focus on applying these tools to solve real-world problems. For startups, this shift presents new opportunities to create value, while AI providers are challenged to differentiate and innovate beyond basic language processing.

To access the full report and learn more about Kruze Consulting, visit: https://kruzeconsulting.com/blog/how-startups-using-ai/.

About Kruze Consulting
Kruze is a leading provider of accounting, tax, CFO, and finance advice to over 800+ startups across the US and has been named as one of the fastest-growing CPA firms in the country. Kruze’s clients have raised over $15 billion in venture capital and are market-leading Saas, software, eCommerce, biotech, and FinTech startups. Founded in 2012 by Vanessa Kruze, a Big Four alum, startup controller, and CPA, the firm manages accounting, tax, finance, and HR for fast-growing startups. Everything including interim CFO Consulting, financial modeling, startup tax returns, venture debt consulting, 409A valuations, bookkeeping, AR/AP, and early-stage fundraising advice can be seamlessly managed by the professionals at Kruze. Visit https://kruzeconsulting.com/ to learn more.

Contact:
Rick Medeiros
510-556-8517
[email protected]

SOURCE Kruze Consulting

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Startup Aims to Streamline Software Implementation and Delivery by Making Comprehensive Automated Testing Accessible to All

NEW YORK, Nov. 12, 2024 — HappyPath, an innovative startup that helps companies deliver products faster through comprehensive automated testing, announced today that it has secured $4 million in funding. The company is using the funds to address a critical need for more effective software testing and has officially launched its AI-powered platform to help the technology sector reimagine their approach to testing.

Software testing has become an impediment in product development as applications grow increasingly complex. Traditional testing methods are expensive, time-consuming, and limited in scope — often forcing companies to choose between thorough testing and rapid innovation. The new platform from HappyPath allows companies to do both.

“Our mission is to break down the barriers that have long made efficient and effective software testing a bottleneck in the development and implementation processes,” said William Dulude, CEO of HappyPath. “AI enables us to predict potential issues, generate more comprehensive test scenarios and adapt to complex system changes with unprecedented speed and accuracy. By making automated testing more intuitive and robust, we’re not just improving software quality—we’re unleashing the potential for groundbreaking solutions across all industries.”

HappyPath’s cutting-edge AI-powered solution enables teams to create comprehensive test suites, generate detailed reports and produce testing artifacts with ease. This breakthrough technology enables innovation acceleration and helps companies deliver superior products faster by making robust testing accessible to a broader range of team members, including non-technical personnel.

“HappyPath represents a paradigm shift in software testing,” said HappyPath’s Co-Founder and Chief Operating Officer Noah Borts. “Our approach has the potential to significantly reduce time-to-market for new products and deployments while simultaneously improving software quality. We’re excited to see our vision of making testing accessible to all come true.”

As HappyPath launches its platform, the company invites implementation consultants, software development teams, product managers and quality assurance professionals to experience the future of testing. For more information, please visit www.happypath.io.

About HappyPath:
HappyPath is revolutionizing software development by enabling anyone to use natural language for automated software testing, report generation, and artifact creation. By automating testing in a reliable, comprehensive, and collaborative manner, HappyPath accelerates innovation and helps companies deliver superior products faster. Founded in 2023, HappyPath is headquartered in New York, NY.

Media Contact: 
Ksenia Kulik 
Interdependence Public Relations
[email protected]
(919)-349-3786   

SOURCE HappyPath

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Led by Tanglin Venture Partners, the funding round strengthens Ennoventure’s position as a leader in AI-powered brand protection and authentication.

CAMBRIDGE, Mass., Nov. 12, 2024 — Ennoventure, Inc., a global leader in AI-powered brand protection and authentication solutions, today announced the successful close of an $8.9 million Series A funding round. Led by Singapore-based venture capital firm Tanglin Venture Partners, the round also included participation from existing investors, including Fenice Investment Group and additional SAFE investors.

Chairman of Ennoventure, Inc., Ahmad Chatila, welcomed the new funding and expressed gratitude for the support of both new and existing investors.

“We are excited to welcome Tanglin Venture Partners at this pivotal stage of our journey. This investment will enhance our product offerings and drive our mission to provide unparalleled brand protection globally.”

“Ennoventure is addressing a critical market need with its unique, process-agnostic brand protection technology,” said Sankalp Gupta, Partner at Tanglin. “We are proud to partner with Ennoventure as they continue to disrupt the market and provide brands with the tools they need to combat counterfeiting and safeguard consumer trust.”

As counterfeit products and intellectual property theft become growing concerns for companies worldwide, Ennoventure’s patented invisible signature technology has become essential for industries such as FMCG, automotive, and industrial spare parts, providing businesses with real-time product authentication and protection. This latest investment will allow the company to scale operations globally, strengthening its footprint in the USA, UAE, India, and beyond.

Ennoventure has built a reputation as a leader in invisible digital packaging solutions, leveraging AI and cryptography to authenticate billions of product units across the globe. The company’s platform seamlessly integrates with existing packaging processes, offering secure and scalable solutions for companies facing increasing threats from counterfeit goods.

“Securing this investment is a significant milestone in our journey to become the go-to partner for brands looking to protect their products and reputations,” said Padmakumar Nair, CEO and Founder of Ennoventure. “With the support of our investors, we are well-positioned to lead the charge in delivering innovative, AI-powered solutions that empower brands to stay ahead of the curve in a fast-evolving market.”

For additional information please visit www.ennoventure.com.

About Ennoventure, Inc.
Ennoventure, Inc. is a global SaaS company leading the digital revolution in brand protection, distinguished by its patented invisible signature powered by AI and cryptography. With innovation and people at our core, we empower brands and consumers by authenticating product packages and transforming them into intelligent, connected packaging. Our solutions seamlessly integrate into product packaging without process changes or capital investment. Trusted by major brands worldwide, billions of product packages carry our invisible signatures across industries, including automotive and industrial spare parts, FMCG, agrochemicals, and more. Ennoventure, Inc. is headquartered in Massachusetts and has offices in Dubai and India. Visit www.ennoventure.com to redefine your brand protection strategy.

About Tanglin Venture Partners
Tanglin Venture Partners is a Singapore-based venture capital firm focused on high-growth companies in Southeast Asia and India. They aspire to be long-term partners to visionary entrepreneurs taking technology-first approach to solve complex problems.

About Fenice Investment Group
Fenice Investment Group, founded in 2017, is a venture capital firm that invests in high-potential companies across the globe. With a portfolio spanning sectors like clean energy and technology, Fenice is committed to supporting the next generation of industry leaders.

Media Contact:

Sarah Evans
Zen Media
[email protected]

Logo: https://mma.prnewswire.com/media/2555006/Ennoventure_Inc_Logo.jpg

SOURCE Ennoventure, Inc.

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– Sanofi and Existing Investor, Perceptive Advisors’ PXV Fund I, Invested a combined US$20 million as part of the Financing –

– Sanofi to Receive Exclusive Right of First Negotiation –

– Proceeds to Fund Remainder of Phase 2a ‘ZONE’ Trial and Nonclinical Development of a Once-Weekly Version of ZT-01 – 

TORONTO, Nov. 12, 2024 – Zucara Therapeutics Inc., (“Zucara” or the “Company”) a diabetes life sciences company developing ZT-01, the first once-daily therapeutic to prevent hypoglycemia (low blood glucose levels) in people with diabetes, today announced that Sanofi has made a strategic investment in Zucara as part of the Company’s US$20 million Series B financing (the “Financing”). As part of the agreement, Sanofi will receive an exclusive right of first negotiation.

The Perceptive Xontogeny Venture Fund (“PXV Fund I”) has also invested as part of the Financing, which has the potential to increase to up to US$25 million with participation from other investors. Proceeds from the Financing are expected to fund the remainder of Zucara’s ongoing Phase 2a trial of the effect of ZT-01 On Nocturnal hypoglycemia Events in Type 1 diabetes (“T1D”) mellitus (“ZONE”), and the nonclinical activities to support a once-weekly version of ZT-01.

Chris Garabedian, Portfolio Manager, Venture for Perceptive Advisors, commented, “Having led Zucara’s US$21 million Series A financing in early 2020, we are proud to continue to support the Company in advancing the development of ZT-01, especially alongside strategic partner and world-leading healthcare company, Sanofi. By preventing hypoglycemia in people using insulin therapy, ZT-01 represents a promising approach to improving health outcomes of people living with diabetes.”

About Perceptive Xontogeny Venture Funds

The Perceptive Xontogeny Venture Funds are Perceptive Advisors’ investment vehicles focused purely on early-stage, private venture investments in life sciences companies. Primary investments for the venture funds include companies that are seeking a lead investor for Series A financings, which include both companies that are seeded and operationally supported by Xontogeny LLC, an affiliated biotech accelerator, as well as unaffiliated companies that are seeking direct Series A investments. For more information, visit https://perceptivelife.com/.

About ZT-01

ZT-01 is designed to prevent potentially dangerous low blood glucose by restoring the body’s ability to counterregulate hypoglycemia. In people without diabetes, α-cells secrete glucagon that signals the body to release its own glucose stores to prevent or reverse hypoglycemia. However, in people with insulin-dependent diabetes – including those with T1D and insulin-dependent Type 2 diabetes – evidence suggests that elevated secretion of pancreatic somatostatin (SST) suppresses glucagon release from α-cells. Zucara has demonstrated that, in people with T1D, the glucagon response can be increased with ZT-01, a first-in-class SST receptor 2 antagonist.

About Zucara Therapeutics Inc.

Zucara Therapeutics is developing ZT-01, a first-in-class, once-daily therapeutic to prevent hypoglycemia in people with T1D and insulin-dependent Type 2 diabetes. ZT-01 is designed to inhibit somatostatin, a pancreatic hormone that impairs the glucagon response to hypoglycemia in people with these conditions. ZT-01 is designed to restore glucagon secretion to prevent hypoglycemia, which could dramatically change diabetes disease management and improve both patient health and quality of life. For more information, visit www.zucara.ca.

SOURCE Zucara Therapeutics Inc.

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• Funding to support development of first-in-class CLDN1 targeted medicines
• Strong syndicate of international life science investors
• One of the largest ADC-focused private fundraisings globally in 2024

COPENHAGEN, Denmark, Nov. 12, 2024 — Novo Holdings, a leading global life science investor, today announced that it has co-led a $181.4 million Series D financing in Alentis Therapeutics (“Alentis”). Alentis is a clinical-stage biotechnology company, headquartered in Basel, Switzerland, which is developing a pipeline of Claudin-1 (CLDN1) targeted medicines.

This financing will enable Alentis to begin Phase 1/2 trials for two first-in-class ADCs: ALE.P02, which targets advanced or metastatic CLDN1+ squamous solid tumours with a tubulin inhibitor payload, and ALE.P03, which targets CLDN1+ tumours with a distinct topoisomerase I inhibitor payload. FDA clearance is already obtained for ALE.P02, with clinical trials expected to commence in Q1 2025. For ALE.P03, a first-in-human trial in patients with CLDN1+ tumours is subsequently planned to start in 2025.

The oversubscribed Series D round was led by OrbiMed, with Novo Holdings and Jeito Capital acting as co-leads. The financing round included new participation from Frazier Life Sciences, Longitude Capital, Catalio Capital, Piper Heartland Healthcare Capital, and Avego Bioscience Capital, along with continued support from existing backers including notably RA Capital Management, Morningside Venture Investments, BB Pureos and BPI France through its InnoBio 2 fund.

Naveed Siddiqi, Senior Partner, Venture Investments, Novo Holdings and Board Member of Alentis Therapeutics, said: “ADCs have shown their potential to be highly effective anti-cancer treatments. Alentis has an exciting pipeline of first-in-class ADCs. We look forward to seeing the data generated from the first clinical trials of ALE.P02 and ALE.P03.”

Roberto Iacone, Chief Executive Officer of Alentis Therapeutics, added: “This financing is a testament to the transformational potential of CLDN1 ADCs for the treatment of solid tumours. Let me take this opportunity to extend a warm welcome to our new investors. We’re excited to execute our development strategy and deliver clinical data for our programs over the next 12–18 months.”

About Novo Holdings A/S

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.

Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (Novozymes A/S) and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Asia, Planetary Health Investments and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.

As of year-end 2023, Novo Holdings had total assets of EUR 149 billion. www.novoholdings.dk

About Alentis Therapeutics

Alentis Therapeutics, the CLDN1 company, is a clinical-stage biotech developing breakthrough treatments for CLDN1+ tumours. CLDN1 is a previously unexploited target that plays a key role in the pathology of cancer and fibrotic disease. Alentis is the leading company pioneering anti-CLDN1 ADCs and antibodies to modify and reverse the course of select diseases.

Alentis was founded based on ground-breaking research in the laboratory of Prof. Thomas Baumert, MD at the University of Strasbourg and the French National Institute of Health and Medical Research (Inserm). Alentis is headquartered at the pharma-biotech hub in Basel, Switzerland with an R&D subsidiary in Strasbourg, France and clinical operations in the US. Visit www.alentis.ch

SOURCE Novo Holdings

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Researchers behind the innovation discovered a cost-effective way to produce high-quality plant protein based on existing extrusion technology. The new method makes plant proteins locally available with minor investments, while being more profitability for the farmers and food industry and at the same time more affordable for consumers.

ESPOO, Finland, Nov. 12, 2024 — Finnish food technology startup Happy Plant Protein, a spinout from VTT Technical Research Centre of Finland, has raised EUR 1.8 million in pre-seed funding led by Nordic Foodtech VC, with Butterfly Ventures and Business Finland also participating through a grant. The company will use the funding to further develop and license its patented technology.

Happy Plant Protein is commercializing a manufacturing process that can produce high-quality plant protein ingredients with a 70-80% protein content. The method can be used with existing machinery and without needing to overcome time-consuming regulatory hurdles. This in turn enables fast development of new products and fast market entry. Furthermore, it can empower local food manufacturers and brands to produce their plant protein, removing reliance on overseas sources.

Current methods to produce plant protein isolates do not meet the demands of the food industry or consumers due to high pricing of materials and the end-products sold in grocery stores. Simply establishing a protein isolate factory takes 100 million euros. Traditional processes to produce isolates also use huge amounts of energy and water. To produce just one kilogram of protein isolate, existing production lines use 14 MJ of energy. The method developed by Happy Plant Protein reduces energy usage to one seventh of the isolate process and cuts down the investment required. Furthermore, the process is chemical-free, uses almost no water and generates no waste.

“There is a need for cost-efficient, environmentally sustainable methods to produce high-quality protein ingredients. Ensuring food security while making food manufacturing more sustainable, we must find new, more efficient ways to produce food. The approach uses standard extrusion to extract high-quality plant protein from legumes, such as peas, lentils and cereals. The protein ingredients produced in this process can then be incorporated into many plant-based food products,” says Jari Karlsson, CEO and Co-founder of Happy Plant Protein.

Extrusion plants, which are the basis of Happy Plant Protein technology, already exist worldwide with more than 5,000 extruder lines in use in the food industry.

“This offers multiple opportunities to utilize the technology we have developed. By combining existing technology with Happy Plant Protein’s process, the investment and operating costs of producing plant protein can be slashed by up to 90% compared to current technologies,” says Karlsson.

The technology’s potential extends beyond mere cost savings. High-quality plant protein could be produced locally without huge investment, which makes it accessible to small local mills and food manufacturers, as well as big global food brands.

“Instead of relying on processing plants in other countries or overseas, local mills could produce plant protein independently and even increase the value of certain crops like pea or fava bean. This model bypasses the traditional global supply chain, allowing for the use of local crops and reducing the carbon footprint associated with food production and transport. By offering the license and technical know-how for its customers’ existing factories, Happy Plant Protein supports the creation of sustainable food systems and provides economic opportunities for farmers and local food processors,” says Karlsson.

“Consumers have been eager to try new plant-based food products, but the first-generation products did not meet expectations due to their taste, structure, price and health properties. Most of these challenges are caused by the current high-capex chemical isolate production, which is making the actual food products very expensive, highlighting off-flavours and lacking their natural beneficial dietary elements, like fibres. As Happy Plant Protein is licensing its technology globally, more natural, healthier and affordable food from local ingredients will become available to consumers,” says Mika Kukkurainen from Nordic Foodtech VC.

Happy Plant Protein aims to license the technology to food manufacturers worldwide.

“Happy Plant Protein is the newest one in the line-up of VTT’s spin-offs contributing to a more sustainable and resilient food system. The technology and the new company stem from VTT’s long-term research excellence in plant protein ingredients, underlining the importance of persistent RDI investments. Our goal at VTT is to create global and national impact with our research as well as to create new deep-tech startups,” says Tiina Nakari-Setälä, Vice President and leader of VTT’s biotechnology and food research area.

MEDIAMATERIAL
Photos available for the use of the media in VTT’s web site

Further information:

Happy Plant Protein
Jari Karlsson, CEO and Co-founder, Happy Plant Protein
+358 40 196 1744, j[email protected]

VTT Technical Research Centre of Finland
Tiina Nakari-Setälä, Vice President, Industrial Biotechnology and Food Research
+348 8215794, [email protected]

About Happy Plant Protein Oy

Happy Plant Protein Oy, a Finnish food technology company, holds a globally pending patent for the production of high-quality plant protein using existing extrusion technology, changing the way protein is produced worldwide. Our innovation creates tailor-made plant proteins for a better fit in food applications. We offer a license model for producing plant proteins through economic and ecological extrusion. happyplantprotein.com

VTT Technical Research Centre of Finland Ltd

VTT is a visionary research, development and innovation partner. We drive sustainable growth and tackle the biggest global challenges of our time and turn them into growth opportunities. We go beyond the obvious to help society and companies to grow through technological innovations. We have over 80 years of experience of top-level research and science-based results. VTT is at the sweet spot where innovation and business come together.

VTT – beyond the obvious

www.vttresearch.com, LinkedIn, X @VTTFinland, Facebook and Instagram

VTT LaunchPad

The project has been part of VTT LaunchPad, a science-based spin-off incubator, where VTT researchers and technology are brought together with the best business minds and investors out there to renew industries. VTT LaunchPad supports incubator teams to develop VTT-owned IPR into fundable spin-off companies.

Further information on VTT:
Paula Bergqvist, Senior Specialist, Communications
+358 20 722 5161, [email protected]
www.vttresearch.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/vtt-info/r/happy-plant-protein-enables-locally-produced-healthy-and-affordable-plant-based-food-with-new-patent,c4064747

SOURCE VTT Info

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LONDON, Nov. 12, 2024 — H.I.G. Bayside Capital Europe (“Bayside”), the European special situations and capital solutions affiliate of H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $65 billion of capital under management, is pleased to announce its financing of Oliver James (“Oliver James” or the “Company”), the rapidly growing international recruitment and talent solutions specialist. Bayside provided a £31m facility to refinance existing debt and finance the further growth of the Company.

Oliver James was founded in 2002 in Manchester, England by Oliver Castle and James Rogers, and is now a multi-award-winning recruitment and talent solutions specialist with 14 offices globally, focusing on specialist verticals. Since its inception, Oliver James has experienced significant organic growth driven by its sophisticated, tech-enabled operating model, knowledge of specialist markets, and focus on staff development and retention.

Bayside provided a bespoke, flexible financing solution to Oliver James that allows the Company to continue to invest in its business and drive ongoing development. The financing solution also includes undrawn facilities to support future growth.

Graeme Edwards, Chief Financial Officer at Oliver James, said: “We are delighted to partner with Bayside for the next phase of our growth and investment. The Bayside team excelled with their knowledge and flexibility and was able to tailor the financing to our needs.”

Florian Kawohl, Managing Director at Bayside, said: “Oliver Castle’s and James Rogers’ impressive approach, strategy, and execution have resulted in an outstanding recognition of their business in the marketplace. Our Capital Solutions loan allows us to refinance their existing debt and provide flexible funds to support the business in its next phase. We are looking forward to working with the team at Oliver James and supporting the continued growth of the business.”

About Oliver James

Oliver James specialises in recruitment and talent solutions services, operating out of 14 offices across the UK, Europe, Asia-Pacific, and the U.S., with a global turnover of £351 million in 2023. To discover more, visit oliverjames.com.

About Bayside Capital

Bayside Capital is the special situations affiliate of H.I.G. Capital. Focused on middle market companies, Bayside invests across several segments of the primary and secondary debt capital markets with an emphasis on long term returns. With eight offices throughout the U.S. and Europe and over 500 investment professionals to draw upon, Bayside has the experience, resources, and flexibility required to generate superior risk-adjusted returns. For more information, please refer to the Bayside website at bayside.com.

About H.I.G. Capital

H.I.G. is a leading global alternative investment firm with $65 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/value-added approach:

• H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
• H.I.G.’s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
• H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
• H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.

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

Contact:

Duncan Priston
Co-Head of Bayside Europe
[email protected]

Andrew Scotland
Co-Head of Bayside Europe
[email protected]

SOURCE H.I.G. Capital

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LOS ANGELES, Nov. 12, 2024 — Eaze Inc. has announced $10 million in Series B funding following the acquisition of select assets from Eaze Technologies Inc., a pioneer in cannabis delivery with over $1 billion in completed deliveries across its 10-year history. The investment will fund the reopening of 70 Eaze and Green Dragon locations across California, Colorado, Florida, and Michigan, including 57 retail stores, 11 delivery hubs, and two production facilities.

Eaze Inc. will be led by Cory Azzalino, who emphasized “We are excited to build on the accomplishments of the first 10 years of Eaze Technologies Inc., and expanding our retail, delivery, and private label brands into new markets. We deeply value the contributions of all those who were part of Eaze Technologies Inc.’s journey and remain committed to creating a company that continues to push forward with innovation and care. As we move ahead with this new chapter, Eaze Inc. is focused on sustainable growth and delivering for our customers and communities. The $10 million investment will allow us to strengthen our supply chain, enhance the customer experience, and set the foundation for long-term success.”

Key initiatives with the Series B funding include:

• Recruiting for more than 1,000 operational positions across four states
• Expanding Florida production capacity from 32,000 square feet to 64,000 square feet of flowering canopy
• Opening new dispensaries and expanding delivery capacity across Florida, California, Colorado and Michigan
• Launching refreshed brand marketing campaigns highlighting Eaze’s newly launched scheduled delivery capabilities, and new product innovation at all Green Dragon locations
• Building new brand partnerships across all territories and developing new market-specific product offerings

Eaze Inc. is committed to a seamless operational transition that will minimize any potential disruptions for Eaze and Green Dragon’s loyal customers, patients, and vendors. With this new funding, Eaze will begin hiring to support expanded operations and ensure continued growth across all markets.

Qualified candidates can apply at eaze.com/careers.

SOURCE Eaze Inc.

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