TULSA, Okla., Nov. 11, 2024 — FortySix Venture Capital LLC (46VC), a venture capital management firm with offices in Tulsa, OK and Bentonville, AR, is proud to announce the launch of Folds Ventures Fund I. The fund is managed by a team of experienced investors at 46VC and will target early-stage tech founders from the veteran and first responder communities. The Fund was developed in association with Folds of Honor Foundation, a charitable organization that provides life-changing educational scholarships to the spouses and children of fallen or disabled US service members and first responders. 

Folds Ventures will back founders with funding and help them harness the power of a large network of patriots. “For early-stage tech investors, access to leaders with elite capabilities, training and experience is paramount to success”, said Tracy Poole, Founder of 46VC, the fund’s manager. “The time is right to back founders with the skills needed to build enduring companies that will advance US capabilities across critical sectors.”

As the fund manager, 46VC has developed a low-friction way for investors to support the veteran and first responder communities that will be open to all accredited investors. “Folds of Honor is proud to team up with Folds Ventures,” said Folds of Honor CEO and Founder, Lieutenant Colonel Dan Rooney. “We believe the partnership will be a force multiplier to the mission and awareness of Folds of Honor and increase scholarship funding to the families of American military and first responder heroes. Together we will meet sacrifice with hope.”

The fund utilizes an innovative structure that shares a substantial portion of the manager’s carried interest returns with Folds of Honor in the form of a donation with each fund vintage, creating an evergreen resource for providing the potential for multitudes of scholarships. The structure allows investors to have the ability to 1) achieve investment returns in a very sought-after asset class, 2) back elite founders with extraordinary resilience, and 3) create real impact by helping to ensure Folds of Honor’s mission to provide scholarships continues to thrive.

For more information on the Folds Venturers Fund I and how to get involved, please contact Garrett McCain at [email protected].

About Folds of Honor

Folds of Honor is a 501(c) (3) nonprofit organization that provides educational scholarships to the spouses and children of US military service members and first responders who have fallen or been disabled while serving our country and communities. Our educational scholarships support private school tuition or tutoring in grades K-12, tuition for college, technical or trade school and post-graduate work, including a master’s degree, doctorate, or professional program. Funds for a second bachelor’s degree or trade/technical program certification are also available. Since its inception in 2007, Folds of Honor has awarded nearly 62,000 scholarships totaling about $290 million in all 50 states. Among the students served, 45 percent are minorities. A total of 91 percent of every dollar raised directly funds scholarships. It is rated a four-star charity by Charity Navigator and Platinum on Candid. It was founded by Lt Col Dan Rooney, the only-ever F-16 fighter pilot (with three combat tours in Iraq) and PGA Professional. He is currently stationed at Headquarters Air Force Recruiting Service at Joint Base San Antonio-Randolph, Texas. For more information or to donate in support of a Folds of Honor scholarship visit foldsofhonor.org.

About 46VC

46VC is a venture capital fund manager with offices in Bentonville, Arkansas and Tulsa, Oklahoma. 46VC has a strategy to leverage large networks and invest in startups and technologies in the heartland region where it has unique access to deal flow and domain expertise. For media inquiries, please contact Kate Lynn at 817-851-8036 or [email protected].

This material does not constitute an offer or solicitation with respect to the purchase or sale of any security in any jurisdiction. Offering by definitive documentation only to accredited investors. 46VC does not provide accounting, tax or legal advice to its clients or investors, and they are strongly urged to consult with their own advisors regarding any potential strategy or investment. For more information on 46VC please visit the firm’s website at www.46.capital.

Media Contact:
Kate Lynn
[email protected]

SOURCE FortySix Venture Capital LLC

YOKNE’AM ILLIT, Israel, Nov. 11, 2024 — Phytolon, an Israeli biotech / food tech startup that produces natural food colors using precision fermentation, recently secured an investment from Rich Products Ventures (RPV), the corporate venture capital fund of global, family-owned food company Rich Products (Rich’s), to help drive commercialization of its innovative, sustainable and clean-label solution for natural food colorings. As part of the investment, Rich’s will explore Phytolon’s proprietary color offerings in several of its products, in a mutually non-exclusive manner.

RPV’s strategic investment has been paired with additional support from existing Phytolon shareholders, including EIT-Food, Arkin Holdings and Yossi Ackerman. The funds will be used to further commercialize and scale Phytolon’s natural, precision fermented food colorants, which are expected to pass key regulatory approvals soon.

Phytolon’s co-founder and CTO, Tal Zeltzer, commented on the transaction: “We are excited to be empowered by Rich Products Ventures as partners in promoting our innovative products in the food industry. Rich’s investment and commercial partnership are key to establishing a strong footprint in bakery, desserts, and related segments, where solutions for natural colors are in high demand.”

Produced utilizing the fermentation of Phytolon’s proprietary yeast strains, Phytolon’s natural colors offer a cost-efficient and sustainable substitution to synthetic food dyes without compromising performance. Beginning with two base colors derived from fermentation, Phytolon’s portfolio provides a full range of color shades, including purple, pink, red, orange and yellow, offering both a reliable and steady supply chain (compared to agriculture-based colors), as well as a simplified process to help food brands achieve vibrant, precise product colors.

Rich’s and RPV are laser-focused on driving innovation to create distinctive value for customers. As part of this strategic investment, Rich’s will explore Phytolon’s clean-label and eco-friendly solutions in several of its products to understand how the natural colors can potentially be applied to Rich’s portfolio of icings, toppings, baked goods and more.

“Innovation is at the core of both Rich’s and RPV,” said Dinsh Guzdar, managing director, Rich Products Ventures. “At RPV, we’re investing in venture and growth stage companies that are shaping the future of food through technology and innovation. Sustainable food production is a key area of focus for us, so we’re excited about the cutting-edge work Phytolon is leading and the opportunity that presents Rich’s to create greater value for our customers.”

Meet Phytolon 
Phytolon is focused on offering natural food colors that comply with the consumers demand for clean label, healthy, and sustainable food systems. Leveraging our novel fermentation-based production technology, we are committed to providing cost-efficient and sustainable solutions, while guaranteeing robust supply to customers around the world. Phytolon’s portfolio currently includes multiple shades, covering the purple, pink, red, orange, and yellow spectrum, targeting multiple food categories in the food and beverage market.

To learn more, visit Phytolon.com and follow us on our LinkedIn. 

Meet Rich’s 
Rich’s, also known as Rich Products Corporation, is a family-owned food company dedicated to inspiring possibilities. From cakes and icings to pizza, appetizers and specialty toppings, our products are used in homes, restaurants and bakeries around the world. Beyond great food, our customers also gain insights to help them stay competitive, no matter their size. Our portfolio includes creative solutions geared at helping food industry professionals compete in foodservice, retail, in-store bakery, deli, and prepared foods among others. Working in 100 locations globally, with annual sales exceeding $5.8 billion, Rich’s is a global leader with a focus on everything that family makes possible. Rich’s®—Infinite Possibilities. One Family.

Learn more at Richs.com or join the conversation on Facebook, Instagram, LinkedIn and Twitter.

Photo – https://mma.prnewswire.com/media/2553959/Phytolon_fermentation_process.jpg
Photo – https://mma.prnewswire.com/media/2553960/Phytolon_Food.jpg
Logo – https://mma.prnewswire.com/media/2553961/Phytolon_logo.jpg

MEDIA CONTACT:

Shir Hait 
[email protected] 

SOURCE Phytolon

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• Jillian Gillespie appointed as CFO – joining from MongoDB
• Baroness Martha Lane Fox joins the board of directors

NEW YORK, Nov. 11, 2024 — Multiverse, the end-to-end learning platform that helps businesses close critical skill gaps, today announced that it has appointed Jillian Gillespie as Chief Financial Officer.

Ms. Gillespie joins from MongoDB, the developer data platform with a market capitalization of c. $20 billion, where she was Senior Vice President of Finance and Operations. She led the company through major milestones and international expansion over ten years, from its first unicorn-stage funding round, through to IPO in 2017, followed by success as a public company.

The company also announced that Baroness Martha Lane Fox, the serial entrepreneur and early pioneer of Britain’s technology sector, has joined its board of directors. Baroness Lane Fox has more than three decades of experience – guiding multiple companies to public markets. She now serves as President of the British Chambers of Commerce and co-chairs a new UK government panel tasked with driving improved adoption of technology in the public sector. She currently serves on the board at Chanel and previously served on Twitter’s board (now X) for almost 7 years until 2022.

Multiverse is the first company to offer businesses an end-to-end platform to reskill their workforce in the age of AI, allowing businesses to diagnose, prescribe, and then treat business-critical skill gaps in one place.

First, the Multiverse platform uses AI-powered diagnostics to determine skilling needs according to business goals. It then develops personalized learning pathways curated for each individual employee based on their role and existing skill set, and delivers that training through human-led and AI-supported learning.

The appointments come as Multiverse’s research shows 64% of businesses lack confidence in deploying AI and associated technologies – a skills gap that has become more acute with rapid technological advancement. They also support Multiverse’s continued expansion in the United States, where 87% of business leaders believe they have skill gaps. The company already partners with more than 1,500 companies across the US and UK..

Euan Blair, founder and CEO of Multiverse: “Multiverse has the capacity to be a generational British tech success story – ensuring people globally can embrace tech with confidence by embedding learning in tech, data, and AI into their daily work. In Martha and Jillian, we’re adding two exceptional leaders who understand both the scale of the global skills crisis and how to build and scale transformative solutions. As we expand our footprint with new products and partnerships, their experience in scaling high-growth tech companies will help us seize this moment and reshape how organizations develop talent in the AI era.”

Baroness Martha Lane Fox: “The promised gains from technology will never be delivered unless people have the skills to take advantage of them. This is becoming urgent in the boardrooms of every organisation, and Multiverse is perfectly positioned with its model of continuous, applied learning.”

Jillian Gillespie, Chief Financial Officer of Multiverse: “I am thrilled to join Multiverse at such a pivotal moment in its journey. What really attracted me is the opportunity to collaborate with such a talented, genuine, and ambitious team in a fast-growing, dynamic, and rewarding business. I firmly believe that applied, on-the-job learning represents the future of workforce development and I look forward to applying my experience to an exciting new challenge.”

For more information, please visit https://www.multiverse.io/en-US.

About Multiverse

Multiverse is a tech company that identifies, closes and prevents skills gaps, through personalized, on-the-job learning. It partners with over 1,500 companies in the US & UK to deliver skills that enable business transformation, and economic opportunity for individuals. Its focus areas include AI, tech and data skills, for people of any age and any career stage. Multiverse learners have driven $2bn + ROI for their employers, using the skills they’ve learnt to improve productivity and measurable performance. In June 2022, it announced a $220 million Series D funding round co-led by StepStone Group, Lightspeed Venture Partners and General Catalyst. With a post-money valuation of $1.7 billion, the round makes the company the UK’s first EdTech unicorn.

SOURCE Multiverse

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The funding round is announced alongside a partnership with ZAN to jointly explore hardware acceleration, infrastructure technologies, and more

ROAD TOWN, British Virgin Islands, Nov. 8, 2024 — Pharos , a full-stack, parallel layer-1 blockchain network, today announced the completion of an $8 million seed round investment co-led by Lightspeed Faction (“Faction”) and Hack VC, with additional participation from strategic anchor investor SNZ Capital and other investors including Reforge, Dispersion Capital, Hash Global, Generative Ventures, Legend Star, MH Ventures, Zion, and Chorus One Ventures.

The company plans to utilize the funding to accelerate the development of the Pharos protocol and drive the growth of the ecosystem and community. The company will maintain its vision of driving mass adoption through efficient blockchain technology implementation into the verticals of decentralized finance, real world assets, and more.

In tandem with the funding round, Pharos has announced a strategic partnership with ZAN, the Web3 brand of Ant Digital Technologies, to jointly explore and develop web3 infrastructure, focusing on node service, security and hardware acceleration.

“We are incredibly grateful for the trust and support from our investors,” said Alex Zhang, CEO of Pharos. “This is just the beginning of an exciting journey. At Pharos, we are driven by our belief to bridge existing FinTech services with trustless Web3 innovations to onboard billions of new users and real-world assets into the Web3 ecosystem. This seed round propels us closer to realizing that vision.”

With hyper-parallelism across consensus, execution, storage, and heterogeneous hardware, Pharos delivers unparalleled scalability and performance, enabling a decentralized real-time payment network for global access. Pharos envisions a real-time payment network that not only delivers unparalleled scalability and performance but also connects existing FinTech services with trustless Web3 innovations to onboard billions of new users and real-world assets into the Web3 ecosystem.

Investor Quotes:

Clara Boh, Deal Partner at Faction : “Pharos’ unique approach to parallelism and high-performance architecture positions it as a game-changer for bringing real-world assets and decentralized finance together. We are thrilled to be a part of Pharos’ seed funding round as it advances its vision of a truly interconnected, scalable blockchain network.”

Alex Pack, Managing Partner at Hack VC : For blockchains to go mainstream and get true mass adoption they must become orders-of-magnitude more scalable and performant. The Pharos team has been working on this problem for years, at the highest level, and we’re excited to support them now in solving these problems with the Pharos protocol.

About Pharos:

Pharos is a full-stack parallel blockchain, pushing the boundaries of decentralized innovation. With hyper-parallelism across consensus, execution, storage, and heterogeneous hardware, Pharos delivers unparalleled scalability and performance, enabling a decentralized real-time payment network for global access.

Pharos is committed to bridging existing FinTech services with trustless Web3 innovations, to onboard billions of new users and real-world assets into the Web3 ecosystem.

About Lightspeed Faction:

Lightspeed Faction (“Faction”) is the leading blockchain-native venture capital firm that merges Silicon Valley VC experience with deep blockchain expertise. Faction typically invests in early-stage startups across the blockchain ecosystem that are in their Seed or Series A funding rounds. Faction is firmly committed to the growth of the crypto space, investing in projects with the potential to meaningfully contribute to and advance the industry and society at large.

For more information, please visit: https://www.faction.vc 

About Faction’s Relationship with Lightspeed

Faction Ventures, LLC (“Faction”) and Lightspeed Management Company, L.L.C. (“Lightspeed”) are separate businesses that operate independently of each other. Faction is a registered investment adviser under the United States Investment Advisers Act of 1940, as amended. Faction advises its own fund(s) and does not advise any Lightspeed clients, and Lightspeed does not advise Faction or any of its clients.

About Hack VC:

Hack VC is a Web3 venture capital firm that partners on- and off-chain with hackers building the future of the Internet at the earliest stages. The firm invests in infrastructure, such as AI, blockchain protocols, and financial technology, with investments across 100+ companies and protocols. Hack VC runs hack.labs(), an in-house tech platform for institutional grade network participation, through which its team of blockchain engineers and quant researchers provide liquidity, stake, make open-source contributions, and more. In addition, Hack VC created and hosts hack.summit(), a global developer community and one of the world’s largest blockchain programmer events, with 130K+ attendees from 150+ countries across events to date.

About SNZ Capital:

SNZ is a crypto-native, research-driven investment company based in HK, Singapore and US, with 200+ portfolios. Active since 2014, beyond investment, the SNZ team has been dedicated to community building and incubation, notably as one of the earliest backers of Ethereum in Asia, and the strategic partner for western projects to expand in Asia. SNZ is an engaging and proactive investor that grows with portfolios. In addition, SNZ has deep industry know-how and great network with Web 2.0 and trafi ecosystems, committed to connecting different stakeholders to empower the development of Web 3.0.

About ZAN:

ZAN is the technology brand of Ant Digital Technologies for Web3 products and services. Powered by AntChain Open Labs’ TrustBase open-source technical stack, ZAN provides rich and reliable services for business innovations and a development platform for Web3 endeavors. The ZAN product family includes ZAN eKYC, ZAN KYT, ZAN Smart Contract Review, ZAN Node Service, with more products being on the way.

Media Contact: [email protected]

SOURCE Pharos

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NEW YORK, Nov. 8, 2024 — EpiBone, Inc., a leading regenerative medicine company at the forefront of skeletal repair, announces the successful close of a convertible note funding round led by Kendall Capital Partners, with participation from LifeSpan Vision Ventures, EMV Capital plc, and others. This additional funding will propel EpiBone’s ongoing pipeline development, furthering its mission to revolutionize skeletal reconstruction on a global scale.

“We are thrilled to have the continued support of Kendall Capital Partners, along with LifeSpan Vision Ventures, EMV Capital plc, and other strategic investors, who share our vision of transforming skeletal repair through groundbreaking science,” said Dr. Nina Tandon CEO and Co-Founder of EpiBone, Inc. “This funding not only affirms the progress we’ve made but also empowers us to bring our innovative regenerative therapies to more patients in need as we explore Thailand and the United Arab Emirates, both emerging global centers of medical tourism.”

David Zhu, Founding Partner of Kendall Capital Partners, added, “We are proud to lead a syndicate of institutional and strategic investors and family offices in this funding round to support EpiBone’s mission to revolutionize skeletal repair. Thinking globally from the outset is essential for cutting-edge technologies like EpiBone’s, as it accelerates commercialization and amplifies the scale of impact. EpiBone’s innovative approach is poised to transform the landscape of regenerative medicine, and we are thrilled to be part of their journey.”

Dr. Ilian Iliev, CEO of EMV Capital plc commented, “EpiBone is revolutionizing healthcare with their cutting-edge approach to personalized medicine, offering a solution that not only has the potential to improve patients’ lives but also redefine how we treat complex diseases. They are developing technology that will shape the future of healthcare and we are proud to continue to support this visionary team as they enter the exciting next chapter of growth and innovation.”

EpiBone’s technologies represent advanced treatment modalities that leverage autologous and allogeneic stem cells, 3D bioprinting, and bioreactor technology to provide personalized, effective solutions for bone and osteochondral reconstruction. EpiBone stands on the frontier of regenerative medicine and seeks to disrupt the standard in musculoskeletal treatments.

About EpiBone
EpiBone, Inc. is a privately-held regenerative medicine company focused on skeletal reconstruction. Sitting at the intersection of biology and engineering, the company harnesses the power of cells to create living solutions that have the potential to integrate seamlessly into patients’ bodies. EpiBone is currently developing a pipeline of bone, cartilage, and other skeletal tissue products. For more information, visit epibone.com.

Disclaimer
This communication contains forward-looking statements, which can generally be identified by words such as “plans,” “change,” “will,” “following”, “strengthening,” “developing,” the negative of these words and similar words and expressions, which are based on EpiBone’s current expectations, assumptions, estimates and projections about its business, technology, product development and industry. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially and include, without limitation, EpiBone’s ability to (1) adequately protect or enforce its intellectual property rights, (2) develop and commercialize new products and technologies on a timely basis (or at all), (3) risks associated with acquisitions and strategic investments and (4) attract and retain qualified personnel. Accordingly, you are cautioned not to place undue reliance on such forward-looking statements. Additionally, this communication does not constitute an offer to sell or a solicitation of an offer to buy securities.

SOURCE EpiBone, Inc.

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Increased Minority Ownership Stake Furthers Growing Commitment to the Risk and Compliance Market

NEW YORK, Nov. 8, 2024 — Dow Jones today announced it has expanded its ownership stake in Ripjar, a global leader in data intelligence software. This strategic investment reflects Dow Jones’s ongoing commitment to providing leading-edge AI to the risk and compliance community. The move is the latest in a series of investments and initiatives that have helped transform Dow Jones to become a leading information service provider.

Since its founding, Ripjar has pioneered new technologies to protect financial firms and enterprises from the rising threat of money laundering, fraud, cyber crime and terrorism. Dow Jones has partnered with Ripjar since 2018 to deliver advanced risk screening and monitoring solutions to thousands of compliance customers. It first announced an equity investment in Ripjar in 2023.

“It’s our mission to deliver the world’s most trusted journalism, data and analysis to help people make decisions. Our increased investment in Ripjar helps Dow Jones in serving the growing global Risk and Compliance community,” said Almar Latour, CEO of Dow Jones and Publisher of The Wall Street Journal. “We continue to find ways to expand our products and services to professionals who navigate an increasingly complex global economy and remain up-to-date on the evolving regulatory landscape.”

Dow Jones’s executive vice president and general manager of Risk & Research Joel Lange will work closely alongside Ripjar’s newly appointed CEO Tom Obermaier and majority investor Long Ridge Equity Partners to grow its operations internationally, as well as supporting new and existing customers to navigate a complex compliance landscape.

With this increased stake, Dow Jones reinforces the importance of this long-standing partnership while strengthening its own position at the forefront of innovation. This is also the latest investment the company has made in new and emerging technologies that further its portfolio of B2B products and services. Earlier this year, Dow Jones acquired A2i Systems, a world leader in AI-powered fuel pricing solutions, to support its growing energy business and infuse innovation across the portfolio.

This investment comes at a time of rapid growth for Dow Jones Risk & Compliance, which provides best-in-class data, integrated technology solutions and due diligence services for managing regulatory and reputational risk. In fiscal year 2024, the business grew 16% year-over-year, reaching nearly $300 million in revenues.

About Dow Jones
Dow Jones is a global provider of news and business information, delivering content to consumers and organizations around the world across multiple formats, including print, digital, mobile and live events. Dow Jones has produced unrivaled quality content for more than 130 years and today has one of the world’s largest news-gathering operations globally. It is home to leading publications and products including the flagship Wall Street Journal, America’s largest newspaper by paid circulation; Barron’s, MarketWatch, Mansion Global, Financial News, Investor’s Business Daily, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, OPIS and Chemical Market Analytics. Dow Jones is a division of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV).

About Ripjar
Ripjar is a data intelligence platform company whose mission is to help organisations and governments automate the detection, investigation, and monitoring of threats from criminal activity. Founded by former members of the UK’s Government Communications Headquarters (GCHQ), Ripjar develops software products that combine automation, artificial intelligence, and data visualisation to help companies solve the most complex risk and security management problems at scale. For more information, visit www.ripjar.com and follow @Ripjar on LinkedIn.

SOURCE Dow Jones & Company, Inc.

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Boston Materials Builds on Established Manufacturing Footprint in USA and Expands Global Product Deployment of Advanced Materials for Semiconductors and Aerospace Markets

BILLERICA, Mass., Nov. 7, 2024 — BOSTON MATERIALS, INC., a manufacturer of advanced materials key to the next generation of semiconductors and aircraft platforms, today announced $13.5 million in new funding. The investment was led by AccelR8 and Diamond Edge Ventures, the US-based corporate venturing arm of Mitsubishi Chemical Group, a leading global carbon fiber manufacturer. With this funding, Boston Materials is accelerating its expansion into the semiconductor market, building from its existing footprint in the aerospace market.

“The world is experiencing an unprecedented increase in energy consumption from computing and transportation,” said Dwight Poler, CEO of AccelR8. “BOSTON MATERIALS is spearheading a new class of materials designed to maximize both the performance and efficiency of energy-intensive systems.”

Founded in 2016, Boston Materials produces a new class of materials that are conductive and durable like metal, yet light as plastic. The underlying patented technology, Z-axis Fiber™, uses vertically aligned carbon fibers to create materials with enhanced energy transfer properties. Highly differentiated advanced materials, commercialized under the ZRT^® tradename, solve critical challenges relating to thermal management and vehicle weight reduction across trillion-dollar industries– including Semiconductors, Aerospace, and Electrified Vehicles. Backed by scaled manufacturing technologies, facilities primed for high-volume production, and validation in performance-critical applications across high-growth sectors, industry leaders turn to Boston Materials to go beyond today’s known limitations.

“Carbon fiber is a strategic product pillar for Mitsubishi Chemical Group. The BOSTON MATERIALS Z-axis Fiber technology is a fundamentally new approach to expand the importance and applications of carbon fiber into industries that are building the future,” said Curtis Schickner, President of Diamond Edge Ventures.

“There is an urgent and quickly ramping need for advanced energy transfer materials. This new class of materials maximize performance and efficiency across data centers, airplanes, electrified vehicles, and beyond,” said Anvesh Gurijala, CEO of Boston Materials. “BOSTON MATERIALS is aggressively expanding its existing manufacturing capabilities and accelerating global product deployment to meet this demand.”

The $13.5 million equity investment round also saw participation from returning and new investors, including Valo Ventures, Gatemore Venture Partners, Collab Fund, and Woori Venture Partners.

ADDITIONAL INFORMATION: https://www.bomaterials.com/

SOURCE Boston Materials

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SUNNYVALE, Calif., Nov. 7, 2024 — Plug and Play, the world’s leading global innovation platform, has announced a new partnership with JERA Ventures, a corporate venturing arm of JERA, the largest power generation company in Japan. By joining Plug and Play Energy, JERA Ventures aims to leverage emerging technologies and business models in Silicon Valley and beyond.

This collaboration enables JERA Ventures to partner with leading technology startups to develop solutions that ensure universal access to clean energy, eliminating barriers related to price, location, and availability.

“At JERA Ventures, we envision a world where clean energy is a given, allowing people to channel their energy into what truly excites them,” said Isao Okubo, Senior Partner of JERA Ventures. “By leveraging Plug and Play’s extensive startup network and JERA’s expansive value chain, we aim to bring unprecedented innovation to the energy sector.” “We strive to create energy that enables society to grow freely and sustainably, empowering individuals to pursue their dreams with sustainable, affordable, and stable energy.”

Plug and Play specializes in driving innovation across over 20 industries, including energy. The program encompasses a wide range of technologies representing almost every function within the energy value chain. The partnership with JERA Ventures will accelerate the development of technology solutions across various focus areas, including the hydrogen/ammonia supply chain, new-generation green power, and green transformation services.

“Our partnership with JERA Ventures represents a significant step toward driving impactful innovation in the energy sector,” said Reza Khaj, Director of Energy at Plug and Play. “By leveraging our global network of startups and JERA’s expertise, we aim to accelerate the development of solutions that will transform the energy landscape toward a more sustainable and equitable future.”

For more information on how to get involved, please visit https://www.plugandplaytechcenter.com/industries/energy.

About Plug and Play
Plug and Play is the leading innovation platform, connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we’re present in 60+ locations across 5 continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and have built an in-house VC to drive innovation across multiple industries where we’ve invested in hundreds of successful companies including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi. For more information, visit https://www.plugandplaytechcenter.com/

About JERA VENTURES
JERA Ventures is a corporate venture capital arm that strategically invests a total of 300 million USD in startups with cutting-edge technologies and business concepts, as well as in venture capital funds that have close networks with these companies. With the key concept of being a “Sandbox for those who are serious about changing the world,” JERA Ventures aims to serve as a bridge among JERA, startups, and the society, striving to be a valuable partner for startups that take on the challenge to change the world in the energy sector. Visit us at JERA Ventures | JERA 

Media Contact
[email protected] 

SOURCE Plug and Play

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Leading companies like Ramp, Qonto, Swile, and Gorgias rely on Siit to streamline employee support and automate workflows using advanced AI

PARIS, Nov. 7, 2024 — Siit today is officially launching its AI-powered Service Desk solution for IT and internal operations teams. Along with the product debut, Siit announced it has raised $5M in a Seed round led by StageOne Ventures and Seventure Partners. This funding will accelerate product development, expand market presence, and fuel Siit’s ambitious growth plans.

The Disconnect Between Service Desks and Employee Needs

Traditional service desks have gained a reputation for being rigid, complex, and disconnected from other tools. This disconnect is evident in the common frustration employees experience when seeking help, only to be met with the dreaded response, “Did you create a ticket?”

According to Forrester, while 66% of employees contact the service desk at least twice a year, a third avoid it altogether due to various frustrations. Even more concerning, only 47% of employees feel that service desks adequately support their remote work experience.

Introducing Siit: AI for Modern Service Desks

Siit is a cutting-edge internal service management platform that leverages advanced AI technology to revolutionize employee support and streamline operations. At its core, Siit utilizes large language models to automate routine tasks and assist employees efficiently. The platform seamlessly integrates with popular communication tools like Slack and Microsoft Teams, featuring an intelligent “invisible” ticketing system that simplifies request submissions and management. Siit’s robust workflow automation capabilities extend to crucial processes such as onboarding, offboarding, and internal approvals.

Siit also incorporates a sophisticated knowledge management system, employing natural language processing to provide quick, accurate responses to employee queries. With its multi-source integration capabilities, comprehensive data analytics, and customizable dashboards, Siit offers organizations deep insights into employee behavior and support trends.

Siit leverages the power of AI to transform how businesses handle everything from requests and change management to incidents and asset tracking. Unlike legacy players that struggle to adapt by tacking on expensive add-ons, Siit is purpose-built to deliver a seamless, future-ready solution. Competing directly with industry giants like Jira Service Management and Freshservice, Siit empowers organizations to streamline operations without the burden of complexity or hidden costs, delivering innovation at a fraction of the price.

“Traditional service desks have long been a source of frustration for employees, with rigid processes and disconnected tools that lead to inefficiencies and lost productivity,” said Chalom Malka, co-founder & CEO of Siit. “At Siit, we’ve reimagined the service desk from the ground up, leveraging cutting-edge AI and seamless integrations to transform what has traditionally been a pain point into a powerful driver of productivity and employee satisfaction. Our platform represents a significant shift in internal operations, empowering organizations to create intuitive, efficient support experiences that meet the demands of the modern workplace. We’re not just solving tickets – we’re revolutionizing how businesses approach employee support and paving the way for a more productive, engaged workforce.”

Investor Support & Vision

With this funding, Siit plans to enhance its platform’s AI capabilities, expanding its presence in the ITSM (IT Service Management) space. Additionally, the company will focus on strengthening its team by hiring top talent in engineering and go-to-market roles, positioning itself for accelerated growth and innovation.

“Two key factors in our investment in Siit Firstly, the startup demonstrated exceptional founder-market fit, with the team’s experience as early employees in Aircall providing them with deep expertise and experience in the SME/SMB landscape,” Aviad Ben-Laish Principal at StageOne Ventures. “This alignment between the founders’ backgrounds and the market they’re targeting instills confidence in their ability to navigate challenges and capitalize on opportunities. Secondly, Siit’s focus aligns perfectly with the growth of digital native organizations which provide support to their employees via instant messaging tools like Slack and Microsoft Teams for day-to-day operations, Siit’s solutions are well-positioned to address the evolving needs of modern workplaces.”

“Siit has cracked employee support with their intelligence to adapt processes to an issue still untouched,” said Guillaume Echaudemaison, Senior Associate at Seventure Partners “We’ve been impressed by their remarkable quality of execution and are excited to support their growth as they disrupt the market.”

Customer Traction

Siit has established itself as a top choice for enterprises of all sizes seeking scalable, user-friendly service desk solutions, with a growing client base that includes leading companies like Ramp, Qonto, Swile, and Gorgias.

Co-founders Anthony Tobelaim (CPO) and Dimitri Cabete Jorge (CTO) have leveraged their experience at Aircall to reinvent the internal ticketing industry by developing a powerful platform that serves SMBs, startups, scaleups, and is now being adopted by enterprise companies.

About Siit

Siit is a leading AI-powered Service Desk solution for IT and internal operations teams. The platform harnesses advanced AI technology to revolutionize employee support and streamline operations. For more information, please visit https://www.siit.io/

About Seventure Partners

Seventure Partners is a long-term equity investor who actively supports innovative companies aiming at generating positive impacts on People, Society, Sustainability and the Planet.

With ~€1b net commitments under management as of the end of 2023, Seventure is a leading venture capital firm in Europe investing since 1997 in innovative businesses with high growth potential in two main fields: (i) Life Sciences (biotechnology, health & digital health, nutrition, foodtech, blue economy, aquaculture, animal & agriculture, sport & wellness) with a particular focus on the microbiome, across Europe, Israel, Asia and North America, and (ii) Digital Technologies (Fintech, Retailtech, Cybersecurity, etc.) in Europe, mainly France and Germany.

Seventure’s investments can range between €500k-€10m per round, or up to €20m per company, to support the development of companies from creation (seed and first round), to development capital financing rounds (venture, growth, pre-IPO and IPO).

SOURCE Siit

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