Today’s pressing challenges, such as labor shortages and escalating geopolitical tensions, primarily exist in the physical world. While AI has thrived in the digital realm, its potential in the physical domain remains untapped due to a lack of domain-specific training datasets. More than 95% of enterprises struggle to obtain high-quality training data at scale, often pouring millions into sensor deployments and dedicating months to manual data labeling—only to face uncertain outcomes. This struggle is one of the biggest barriers to effectively implementing AI systems in the physical world.

Bifrost’s software platform changes this by allowing teams to generate datasets in minutes using simulated 3D worlds. This allows teams to build new AI capabilities faster than ever, teach robots how to solve real-world problems, and adapt to new objects, tasks, and environments in hours instead of months.

Bifrost’s breakthroughs in Generative AI and 3D graphics allow users to create realistic, industry-specific data & scenarios at scale—no 3D expertise needed. Designed for AI developers, the platform offers fully controllable real-time 3D worlds in supercharged Jupyter notebooks. Traditional 3D simulators often fail to deliver realism, while 2D generative AI lacks the nuanced control necessary for sophisticated applications. Bifrost bridges this gap with a hybrid approach, combining an unprecedented level of precision with realism. Users harness a powerful Python library to program every element of their 3D worlds, from camera movements to environmental conditions, automating and fine-tuning their simulations with ease.

This has enabled their customers to build new Physical AI capabilities faster than ever. Autonomous boats that can safeguard shipping lanes from piracy, industrial robots that can assemble new parts with unmatched efficiency, and drones that can inspect thousands of electrical grids for defects—all without human intervention. These systems serve as a vital link that allows digital systems to engage with the real world.

After LLMs and image generators, Physical AI represents AI’s most important frontier yet.  However, building these systems is incredibly hard. Bifrost is making this process faster, cheaper, and more reliable, so teams can focus on what matters: solving real-world problems with AI.

“We work with some of the most technically demanding organizations in the world, solving some of the toughest problems. This includes major U.S. government organizations and leading enterprises in heavy industry. One example is NASA JPL, with whom we have been collaborating on several initiatives, including data generation engines for Moon and Mars exploration,” said Charles Wong, Co-founder and CEO of Bifrost AI.

“The market for robotics and autonomous systems is rapidly increasing. In the future, AI development will rely increasingly on synthetic data instead of real data. We believe the Bifrost team is uniquely positioned to enable this opportunity by bridging the data , allowing systems to be trained more efficiently and quickly by an order of magnitude. We expect their approach will unlock new use cases and opportunities, enabling AI to transform our physical world”, said Stephen Lee, General Partner at Carbide Ventures.

“As AI becomes increasingly prevalent, actively deployed across commercial and defense-related applications at an unprecedented scale, Bifrost stands out as a trusted partner, ready to support teams working on advanced robotics and autonomous systems,” adds Thomas d’Halluin, Airbus Ventures Managing Partner. “We are confident that Bifrost AI will unlock exceptional value at the intersection of 3D generative AI, advanced simulation, and design, which is already being used by major U.S. government organizations and leading global enterprises in heavy industry.”

“One of the fundamental challenges in AI and robotics is generalization—the ability to learn new skills and handle a variety of scenarios and tasks. Traditionally, adapting to new tasks could take months. But with Bifrost, that timeline has shrunk to just hours. This acceleration enables teams to build AI systems that can tackle a wider range of problems, unlock larger markets, and generate more revenue with less upfront data acquisition cost.” Aravind SK, co-founder and CTO of Bifrost AI.

Read more about us at bifrost.ai

SOURCE Bifrost AI, Inc

De wereldwijde adoptie van Bitcoin heeft zijn rol als “digitaal goud” versterkt, maar het bredere financiële potentieel is onbenut gebleven door het gebrek aan een schaalbaarheidsoplossing waarin de kernprincipes behouden blijven. Deze kloof heeft gebruikers gedwongen om Bitcoin te bewaren als passieve waardeopslag of om te vertrouwen op bewaarders voor breder gebruik. Deze adoptie ondermijnt de rol van Bitcoin in gedecentraliseerde financiering. Zonder een goede schaalbaarheidsoplossing loopt Bitcoin het risico zijn relevantie in gedecentraliseerde financiën te verliezen en als netwerk verouderd te raken.

Citrea is de eerste Bitcoin schaalbaarheidsoplossing om het nut van Bitcoin uit te breiden zonder afbreuk te doen aan de decentralisatie of veiligheid. Citrea breidt de mogelijkheden van de Bitcoin blockspace uit met zero-knowledge technologie en maakt het mogelijk dat het Bitcoin-netwerk verschillende on-chain toepassingen en platformen ondersteunt. Door tussenpersonen overbodig te maken, stelt Citrea gebruikers in staat om zonder vertrouwen BTC te kopen, te benutten, uit te lenen en te gebruiken. Hierdoor verandert Bitcoin van een passieve waardeopslagplaats in een actief financieel instrument.

“Citrea is een belangrijke mijlpaal in Bitcoin’s ontwikkelingstijdlijn en de eerste investering die we hebben gedaan in het Bitcoin-ecosysteem,” zegt Joey Krug, Partner bij Founders Fund. “Met het sterkste team en het beste technische ontwerp dat we hebben gezien in de Bitcoin L2-ruimte, maakt de 0→1-technologie van Citrea Ethereum-achtige rollups voor slimme contracten op Bitcoin mogelijk, in een ‘trust-minimized’ omgeving.

“De afgelopen 18 maanden hebben we gewerkt aan de infrastructuur die Bitcoin nodig heeft om verder te gaan dan alleen een opslagplaats van waarde en een nieuw tijdperk van gedecentraliseerde Bitcoin-financiering in te gaan,” zegt Orkun Kilic, medeoprichter en CEO van Chainway Labs. “Citrea combineert doorbraken in cryptografie met rigoureuze engineering om deze visie werkelijkheid te maken. Bitcoin maakt niet alleen een grenzeloze economie mogelijk, maar dient ook als basis voor een censuurbestendige monetaire laag. Onze missie is om het fundament te leggen voor een ecosysteem dat nodig is om de wereldwijde hyperbitcoinisatie te stimuleren.”

Over Citrea

Citrea is de eerste rollup die het nut van BTC vergroot en de Bitcoin blockspace activeert voor een nieuw gedecentraliseerd financieel ecosysteem. Citrea’s visie is om een schaalbare infrastructuur te bouwen die Bitcoin naar de volgende fase brengt: de basis voor de wereldfinanciën.

Meld u aan voor het ontwikkelaarsprogramma ‘Citrea Origins‘.

Ga voor meer informatie naar: Citrea website   | Citrea X-account

Over Chainway Labs

Chainway Labs, het bedrijf dat Citrea bouwt, is mede opgericht door vier jonge computerwetenschappers en ondernemers met een focus op Bitcoin, Ethereum en nul-kennistechnologie.

Foto – https://mma.prnewswire.com/media/2541872/Citrea_Series_A.jpg

L’adozione globale dei Bitcoin ne ha consolidato il ruolo di “oro digitale”, ma il loro più ampio potenziale finanziario è rimasto inutilizzato per via della mancanza di una soluzione di scalabilità che ne mantenga i principi fondamentali. Questa lacuna ha costretto gli utenti a utilizzare i Bitcoin come riserva passiva di valore, oppure a fare affidamento su depositari per un utilizzo più ampio. Questa adozione indebolisce il ruolo dei Bitcoin nella finanza decentralizzata. In mancanza di una soluzione di scalabilità adeguata, Bitcoin rischia di perdere la propria rilevanza nella finanza decentralizzata e di diventare una rete obsoleta.

Citrea è la prima soluzione di scalabilità dei BTC che amplia l’utilità dei Bitcoin senza comprometterne la decentralizzazione o la sicurezza. Citrea potenzia le capacità del blockspace dei BTC con la tecnologia zero-knowledge e consente alla rete Bitcoin di supportare diverse applicazioni e piattaforme on-chain. Eliminando la necessità di intermediari, Citrea consente agli utenti di acquistare, prestare, prendere in prestito, utilizzare e fare leva con i BTC, il tutto in modo trustless, trasformando i Bitcoin da una riserva di valore passiva in uno strumento finanziario attivo.

“Citrea rappresenta una pietra miliare nella cronologia dell’evoluzione dei Bitcoin, ed è anche il primo investimento che abbiamo fatto nell’ecosistema dei Bitcoin”, ha affermato Joey Krug, Partner di Founders Fund. “Grazie al team più forte e al miglior design tecnico mai visto nello spazio L2 dei Bitcoin, la tecnologia 0→1 di Citrea consente rollup di tipo Ethereum per contratti intelligenti sui Bitcoin, in modo da minimizzare il trust”.

“Negli ultimi 18 mesi abbiamo realizzato l’infrastruttura che serve a Bitcoin per oltrepassare la semplice funzione di riserva di valore ed entrare in una nuova era di finanza decentralizzata supportata dai Bitcoin”, ha affermato Orkun Kilic, co-fondatore e amministratore delegato di Chainway Labs. “Citrea coniuga innovazioni crittografiche e rigore ingegneristico per trasformare questa visione in realtà. I Bitcoin non solo rendono possibile un’economia senza confini, ma costituiscono anche la base per un livello monetario resistente alla censura. La nostra missione è gettare le basi e l’ecosistema necessari per guidare l’iperbitcoinizzazione globale”.

Informazioni su Citrea

Citrea è il primo rollup che aumenta l’utilità dei BTC e attiva lo spazio di blocco dei Bitcoin per un nuovo ecosistema finanziario decentralizzato. La visione di Citrea è realizzare un’infrastruttura scalabile per il passaggio dei Bitcoin alla fase successiva: le fondamenta della finanza mondiale.

Vi inviatiamo a iscrivervi al programma per sviluppatori ‘Citrea Origins‘.

Per maggiori informazioni visitate: Sito web Citrea   | Account Citrea su X

Informazioni su Chainway Labs

Chainway Labs, la società che ha creato Citrea, è stata fondata da quattro giovani informatici e imprenditori specializzati in Bitcoin, Ethereum e tecnologia zero knowledge.

Foto – https://mma.prnewswire.com/media/2541872/Citrea_Series_A.jpg

OpenOrigins also launches its new content marketplace with more than 1PB of ready to license data that unlocks new revenue streams for media and data companies by responsibly licensing their archives to companies for AI model training

LONDON, Oct. 31, 2024 — OpenOrigins, the company founded to protect content authenticity through its provenance focused blockchain, has expanded globally with a $4.5 million seed investment led by Galaxy Interactive with participation from Galaxy Ventures and existing investor Unbound, a global investment firm led by Shravin Bharti Mittal. During the past year, OpenOrigins grew quickly signing major partnerships and clients with leading media companies such as ITN, who produce content for Channel 4 and ITV. This signifies the large demand for OpenOrigins – a highly scalable decentralized content anchoring and authenticity verification solution that brings believability back into the global content and media industry in the age of generative AI.

AI-generated content and deepfake images and videos are being created with increasing ease and pace by individuals and organizations. With the public widely unable to distinguish authentic images and videos from AI-generated content, there is a critical need to restore trust in visual media, which is at an all-time low.

“We are seeing fabricated content threaten our trust in information ecosystems, destabilize political environments and rapidly increase corporate fraud. Without an immutable mechanism to prove the authenticity of content, the internet will become a collective fiction, where people can’t believe anything they see. Now is the time to safeguard non-synthetic content, establishing provable provenance, so we can share our stories, and always be believed,” said Ari Abelson, co-founder of OpenOrigins.

Today, OpenOrigins’ provenance-enforcing blockchain expands globally. OpenOrigins is on a mission to safeguard the provable origins of human-created media. The company’s custom-built blockchain, anchoring solutions, and real-time camera-capture technologies protect and prove the authenticity of images and videos, providing a way for people, companies, and governments to reliably operate on fact, not fiction.

OpenOrigins’ approach to safeguarding media content is fundamentally different from existing solutions that focus on detection. Once an image’s provenance has been validated on the purpose-built blockchain, OpenOrigins is able to globally distribute this media and license it on behalf of the content provider while proving the content’s original authenticity. AI detection solutions are not able to accomplish this, as AI platforms don’t offer a decentralized, immutable public record and operate like an unscalable ‘whack-a-mole’ approach, putting out fires after the fact. In contrast, OpenOrigins’ approach is to build fireproof infrastructure.

“AI advancements are rapidly outpacing any AI detectors or retroactive solutions to authenticating content – it’s a losing arms race. Our approach is sustainable, what’s proven to be true today will still be true a decade down the line. We leverage the immutable quality of blockchains to combat AI. By proving content at source, we can guarantee what is human-created and what isn’t. In our minds, purpose built blockchains are the only acceptable solution for trust online in a world of AI,” said Dr. Manny Ahmed, founder of OpenOrigins. The company began as an academic project at the University of Cambridge, while Manny Ahmed completed his PhD.

OpenOrigins has seen extensive interest from global media companies, and has already partnered with ITN, one of the UK’s leading content producers with clients including Channel 4 and ITV, to protect the human origins of their media archives spanning the past 70 years and consisting of over a million video and audio assets. Following partnership with OpenOrigins, ITN is now able to unlock a new revenue stream by licensing their secured archives to AI companies who are responsibly training their models using OpenOrigins’ marketplace.

“ITN has been a trusted provider of high-quality British journalism for over 70 years. As synthetic media becomes more prevalent, ITN’s archive strategy has evolved to include protecting the provenance and integrity of footage as well as the physical assets. OpenOrigin’s blockchain solution has given us a route to validating our material to maintain trust and offers a route to the wider industry becoming more responsible creators and distributors of media.” Tami Hoffman, Director of News Distribution and Commercial Innovation, ITN.

OpenOrigins has also partnered with leading newswires to pilot novel point-of-capture technology, ensuring audiences and journalists can trust in what they see, by verifying the origins of newly captured images and videos. They have run global election coverage pilots ensuring audiences are provided with absolute confidence that what they see is real.

“At Galaxy Interactive, we invest in companies building the infrastructure for a future where digital experiences are as authentic and trustworthy as physical ones,” said Jeff Brown, Partner, Galaxy Interactive. “OpenOrigins’ technology is essential to securing the provenance of digital content and enabling verifiable ownership, which are critical building blocks for a secure and trusted spatial computing future. We are excited to support OpenOrigins in their mission.”

“At Unbound, we invest in companies solving critical challenges for global industries. One of the most urgent threats today is the rise of AI-generated deepfakes, which undermine trust in media. OpenOrigins provides a vital solution for media companies, offering a defense against this growing problem. Over the past year, the strong traction OpenOrigins has seen with media organizations has validated our belief in the relevance and importance of their platform. We’re excited to deepen our commitment to OpenOrigins as they continue building the large-scale infrastructure needed to safeguard the credibility of digital media.” – Shravin Bharti Mittal, Founder of Unbound.

About OpenOrigins:
OpenOrigins proves the authenticity of media by enabling companies to secure or anchor genuine content on its provenance-built blockchain to protect against manipulation whilst providing access for the protected media to be accessed and distributed, and allowing anybody to look up content origins for themselves. OpenOrigins is ushering in the era of verifiable content truth. For more information, please visit https://www.openorigins.com/.

For further information, interviews, or partnership inquiries, please contact: [email protected]

SOURCE OpenOrigins

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Investment from Visionary Family Office-Owned Private Investment Firm Marks a Pivotal Moment in Transforming the Funding Landscape for Female Founders as LINGO Expands Access to STEM Career Readiness

SPRINGFIELD, Mo., Oct. 31, 2024 — In a landmark moment for women entrepreneurs and the future of STEM education, Pinnacle Private Ventures, LLC, an influential family office-owned private investment firm led by Sean McCurry, is proud to lead an investment of $2.25 million in LINGO, a leading edtech company founded by former NASA rocket scientist, serial entrepreneur and future Blue Origin astronaut Aisha Bowe that is redefining STEM learning through its innovative curriculum. This funding round highlights a powerful shift in the venture capital landscape—one that is redefining how women and minority founders can access the resources needed to drive meaningful societal change.

Pinnacle Private Ventures is at the forefront of investments that create meaningful impact, prioritizing backing ventures that align with its values and make a tangible difference in underrepresented communities. With only 1% of venture capital allocated to Black female founders, LINGO’s successful funding round marks a watershed moment in empowering diverse entrepreneurs who are often overlooked by traditional funding avenues. It underscores the essential role family offices can play in driving positive change by raising the bar for future investments that prioritize equity and innovation.

“This funding round highlights LINGO’s potential to reshape the future of STEM education,” stated Sean McCurry, founder of Pinnacle Private Ventures. “We are grateful to support LINGO’s growth and its mission to equip the next generation of tech leaders with the resources they need to succeed. Our investment reflects a deep commitment to not only pursuing financial returns but also to creating meaningful social impact through education and fostering diversity within the tech sector.”

LINGO’s mission is to bridge the gap between traditional education and industry-readiness by delivering accessible STEM tools that empower learners to seize real-world opportunities. The new capital will allow LINGO to expand its innovative hands-on, project-based coding kits and curriculum which include lessons for students aged 13 and up in fields such as artificial intelligence, space systems, and environmental monitoring. LINGO’s programs—already being implemented by partners such as General Dynamics Information Technology, Siemens Healthineers, Leidos and Howard University—are transforming how students engage with STEM and preparing the next generation of scientists and engineers for careers in rapidly evolving fields.

“With 80% of future jobs projected to require STEM skills, LINGO is a scalable solution for schools and homes that provides learners with exposure to emerging technologies while building the skills and confidence they need to thrive,” said Aisha Bowe, founder and CEO of LINGO. “Closing this round empowers us to extend our reach, delivering essential STEM tools and inspiration to thousands more students and preparing them for success in a rapidly evolving world.”

The involvement of other notable investors, including 1863 Ventures, Sequoia Capital via the Scout program, and Dr. Joy Johnson, further underscores the significance of this funding round. As LINGO continues to scale, this investment marks a pivotal moment in how family offices like Pinnacle are shaping the future. By empowering founders like Aisha Bowe, who is redefining STEM education and creating pathways for more women in tech, Pinnacle is setting a new benchmark for aligning investment strategies with a vision of inclusivity and equity.

About Pinnacle Private Ventures, LLC

Pinnacle Private Ventures operates as an extension of a single-family office based out of Southwest Missouri and Overland Park, KS. Our goal has always been four-fold: 1) Bring glory to God in everything we are and do–especially in how we steward the relationships and capital He sends us; 2) Pursue higher returns to further the Family Office’s philanthropic efforts; 3) Partner thoughtfully with first-class entrepreneurs and operators to invest in their teams, businesses, and projects; and 4) Provide our investors with quality risk-adjusted returns within the private investment space.

About LINGO

LINGO delivers hands-on, project-based learning that makes STEM fun and accessible. Created by engineers and designed for teachers, LINGO lessons can be self-guided or teacher-led. Aligned to national learning standards, LINGO lessons build learners’ confidence through engaging real-world projects in emerging fields like artificial intelligence, environmental monitoring, and space systems. In a world where 80% of future careers will require STEM skills, LINGO has been implemented by industry leaders like General Dynamics Information Technology, Siemens Healthineers, and Leidos to help equip students for success in a rapidly evolving world.

For more information, visit https://stemlingo.com.

MEDIA CONTACT

Bradford Bridgers
213-444-6658 

Photo – https://mma.prnewswire.com/media/2545952/Aisha_Bowe_LINGO.jpg

SOURCE Pinnacle Private Ventures, LLC

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LOUISVILLE, Ky., Oct. 31, 2024 — Breath Diagnostics Inc., advancing the development of a patented, non-invasive breath analysis technology with the potential to help transform disease detection, is pleased to announce the appointment of Aaron Roebuck as President.

Ivan Lo, CEO of Breath Diagnostics Inc. (the “Company”), stated, “Our breath analysis technology, OneBreath™, currently in the research and development phase, has demonstrated significant potential in clinical studies focused on the detection of diseases such as lung cancer and pneumonia. As we continue developing our platform technology, we are committed to preparing for future commercialization opportunities. Aaron brings extensive industry experience that will help accelerate our development efforts with the goal of bringing OneBreath™ to market.”

Aaron Roebuck brings nearly 30 years of experience in respiratory and cardiopulmonary medicine, with a distinguished background in the development and commercialization of medical devices. His most recent role was at Vero Biotech, where he served as Senior Director of Clinical Sciences and led initiatives in next-generation drug delivery systems. Throughout his career, Mr. Roebuck has excelled in building teams, leading clinical trials, securing funding, and contributing to FDA submissions.

“I am honored to join Breath Diagnostics at such a pivotal time,” said Aaron Roebuck, President of Breath Diagnostics Inc. “OneBreath™ has the potential to significantly improve early detection of diseases like lung cancer and pneumonia. I look forward to helping lead the Company‘s efforts as we move toward the ever-important commercialization phase.”

Closing of Convertible Note Financing

Breath Diagnostics Inc. is pleased to announce the closing of a $1 million convertible note financing, led by strategic investors, including the Company’s CEO Ivan Lo. The funds raised will be allocated to support general and administrative operations, as well as research and development efforts intended to enhance the OneBreath™ platform.

We would like to thank our long-term shareholders and recent investors for their continued support in our mission to advance non-invasive breath diagnostics.

About Breath Diagnostics Inc.

Breath Diagnostics Inc. is an innovative medical device company dedicated to advancing non-invasive breath analysis technology. Currently in the research and development phase, the Company’s flagship platform, the OneBreath™ system, is designed to detect lung cancer and other diseases by analyzing specific biomarkers in a patient’s breath. This approach has the potential to offer a fast, portable, and cost-effective solution for early disease detection.

The OneBreath™ system uses a single breath sample to identify disease-specific biomarkers. Requiring less than a minute of the patient’s time, this potentially life-saving technology has shown promise in studies involving lung cancer detection in over 800 patients across multiple clinical sites.

Unlike traditional breath analysis technologies, the OneBreath™ system does not use thermal desorption tubes but instead a microchip reactor. A key benefit of OneBreath™ is the ability to analyze samples using liquid chromatography mass spectrometers (LCMS) such as UHPLC-MS. Thus, the OneBreath™ system offers flexibility, sensitivity, and suitability for complex breath samples, enhancing the repeatability of breath analysis. 

For more information on Breath Diagnostics Inc. and the OneBreath™ system, please visit www.breathdiagnostics.com.

Media and Other Inquiries:

Aaron Hoddinott
Corporate Communications
[email protected]
1-(866)-239-8627
Breath Diagnostics Inc.

Cautionary Note Regarding Forward Looking Information

This press release contains forward-looking statements and information. The words ”anticipate,” ”believe,” ”continue,” ”could,” ”estimate,” ”expect,” ”intend,” ”may,” ”plan,” ”potential,” ”predict,” ”project,” ”target,” ”should,” ”would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements in this press release include statements regarding the potential benefits of the OneBreath™ system as it relates to disease detection, and the potential for commercialization opportunities in the future. The Company may not achieve the plans, intentions, or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various important factors, including: uncertainties inherent in the research and development process of new technology and the initiation and completion of studies, and availability of funding sufficient for the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements.

Breath Diagnostics Inc. is currently in the research and development phase with its OneBreath™ system and there is no certainty it will be able to commercialize this technology.

Any forward-looking statements contained in this press release speak only as of the date hereof. Breath Diagnostics Inc. expressly disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise.

SOURCE Breath Diagnostics Inc.

Investment enables ContraForce’s mission to transform how managed security services are delivered.

MCKINNEY, Texas, Oct. 31, 2024 — ContraForce, the security service delivery platform company, today announced the closing of a $3.25 million seed funding round, co-led by GALLOS Ventures and DataTribe. The funding round enables ContraForce’s mission to automate security operations and expand the security services opportunity for managed service providers.

Founded in McKinney, Texas in 2021, ContraForce has developed a groundbreaking security service delivery platform that allows service providers to grow their monthly recurring revenue, improve their margins and deliver better client outcomes. The company saw annual recurring revenue grow 400 percent over the past 12 months and has established a growing customer base and distribution partners around the world.

The ContraForce platform employs proprietary AI and automation that streamlines the time and security expertise service providers require to manage security incident and event management and endpoint detection and response tools including Microsoft Sentinel, Microsoft Defender, Splunk Enterprise Security, IBM QRadar SIEM, Crowdstrike Falcon XDR and SentinelOne Singularity XDR. ContraForce was recognized by Microsoft Intelligent Security Association as their 2024 Security ISV of the year. ContraForce was also recently honored as an SC Awards winner for Most Promising Early-Stage Startup and selected as a SINET16 Innovator. Using the ContraForce platform, service providers can onboard clients within a few minutes and easily manage all their clients and security tools simultaneously in a single dashboard.

A recent McKinsey and Company report highlighted the massive opportunity in cybersecurity managed services, with a total available market of $400-500 billion and current solutions only penetrating 5-10% of the market. The main obstacle to deeper penetration is the shortage of qualified cybersecurity personnel, underscoring the urgent need for automated solutions like those offered by ContraForce. ContraForce enables service providers to add a new line of business by allowing them to immediately launch managed detection and response and managed security operation center (SOC) services.

The oversubscribed investment round, which included participation from angels and strategic partners, brings a total of $5.25 million in investment to ContraForce, which will use the capital to accelerate the release of new product features and invest in sales and marketing in preparation for a future Series A round.

William Kilmer, General Partner at GALLOS Ventures, stated, “GALLOS specializes in investing in and building great security companies. We’re continuously seeking solutions that address real security challenges, particularly in security operations. ContraForce tackles one of the biggest problems in today’s market by automating the majority of incident investigation and remediation workflows while keeping critical decisions in the hands of security analyst teams.”

Kilmer added, “As a former CEO of a managed security services provider (MSSP), I see tremendous potential for ContraForce to scale the managed security services market in a highly efficient manner.”

Stan Golubchik, Chief Executive Officer and Co-founder of ContraForce, commented, “ContraForce’s goal is to help service providers automate and simplify the delivery of scalable security services. This investment from GALLOS not only provides us with the capital to achieve that, but also brings in a partner who understands how to build and grow security businesses on a global scale.”

ContraForce was originally founded with an investment from DataTribe, the Maryland-based cybersecurity foundry that has invested in successful cybersecurity startups, including Dragos, Blackcloak, and Strider Technologies. Maurice Boissiere, Partner at DataTribe, added, “We think ContraForce is helping to protect the vulnerable small and mid-sized enterprise sector and are pleased with the progress they are seeing with managed service providers and MSSPs toward this. I’m looking forward to working with WIll Kilmer given his venture and operations experience in this space.”

As part of the investment round, William Kilmer, GALLOS General Partner, has joined ContraForce’s board of directors.

About ContraForce:

ContraForce transforms how managed security services are delivered by allowing service providers to jumpstart a new line of business, improve their margins and deliver better client outcomes. The ContraForce Security Service Delivery Platform decouples security services from the underlying software used to provide them and employs proprietary AI and automation to improve service delivery efficiency. As a result, service providers around the world rely on the ContraForce Spark workbench to deploy or improve their own managed security service offerings or participate in the ContraForce Storm commercial program to have qualified providers deliver security services on their behalf. ContraForce is a member of the Microsoft Intelligent Security Association and is the 2024 Microsoft Security ISV of the year.

About GALLOS:

GALLOS Technologies is a venture studio and investor that builds and invests in cutting-edge security technology companies. Leveraging decades of nation-state-level security, intelligence, and defense experience, GALLOS brings a unique perspective on the technologies that companies and governments should deploy to mitigate global threats. GALLOS combines this insight with expertise in building and scaling successful ventures to create optimal outcomes for portfolio companies and investors.

About DataTribe:

DataTribe is a cybersecurity foundry that leverages deep experience and expertise to build and launch successful product companies. With a team comprising Silicon Valley and Intelligence Community founders, investors, and experienced entrepreneurs, DataTribe provides the knowledge and resources necessary to build thriving startups in the cybersecurity space.

Logo: https://mma.prnewswire.com/media/2545834/ContraForce_Logo.jpg

SOURCE ContraForce

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– Financing co-led by RA Capital Management and Sectoral Asset Management –

– Proceeds to support clinical development of lead program MRGPRX2 inhibitor, EVO756, as well as IL-18 targeted fusion protein program, EVO301 –

– Multiple Phase 2 data readouts expected in 2025 and 2026 in chronic urticaria and atopic dermatitis –

PALO ALTO, Calif., Oct. 31, 2024 — Evommune, Inc., a clinical-stage biotechnology company discovering and developing new ways to treat immune-mediated inflammatory diseases, today announced the completion of a $115 million Series C financing. The financing was co-led by new investors RA Capital Management and Sectoral Asset Management, along with participation from new investors B Capital, Marshall Wace, Avego Bioscience Capital, Longwood Fund, RTW Investments, ADAR1 Capital Management, NEXTBio Capital, Beiersdorf Venture Capital, FemHealth Ventures and Allostery Investments LP and existing investors, including Pivotal bioVenture Partners, EQT Life Sciences, Andera Partners, Amplitude Ventures, Symbiosis and Verition Fund Management.

“The support from these leading life science investors speaks to the strong momentum we have built with the positive proof of concept data from our EVO756 program earlier this year and the expansion of our pipeline with EVO301. With multiple Phase 2 data readouts anticipated in 2025 and 2026, we are well positioned to continue to show meaningful progress and achieve our goal of delivering new treatment options to patients suffering from chronic inflammatory diseases,” said Luis Pena, Chief Executive Officer at Evommune.

In connection with the Series C financing, Derek DiRocco, Ph.D., partner at RA Capital Management, and François Beaubien, Ph.D., CFA, partner at Sectoral Asset Management, have joined Evommune’s Board of Directors.

“Evommune’s EVO756 proof of concept study delivered very encouraging results, providing a strong foundation for Evommune to progress as a cutting-edge immunology company,” said Dr. DiRocco. “I am excited to join Evommune’s Board of Directors at such an important time and look forward to working with this experienced leadership team to advance new treatments that could elevate the standard of care in a variety of chronic inflammatory diseases.”

Proceeds from the Series C financing will be used to support continued advancement of the company’s lead clinical programs in chronic urticaria and atopic dermatitis, including multiple Phase 2 studies of EVO756, a potent, highly selective small molecule antagonist of mas-related G-protein coupled receptor X2 (MRGPRX2). EVO756 plays a pivotal role in mast cell activation and neuroinflammation and has the potential to be a very targeted, safe and effective oral therapeutic option for multiple mast cell mediated diseases. The proceeds will also support a Phase 2 proof of concept study of EVO301, a long-acting serum albumin-binding injectable therapeutic fusion-protein that is designed to neutralize the signaling pathway of IL-18 for the regulation of inflammation in multiple chronic inflammatory diseases.

Company Milestones

• Reported positive proof-of-concept data for EVO756; a full data set will be presented at a scientific conference in the fourth quarter of 2024
• Initiated a multi-center Phase 2 trial in patients suffering from Chronic Inducible Urticaria (CIndU) in the third quarter of 2024, with data expected in the first half of 2025
• Plan to initiate a Phase 2b clinical trial of EVO756 in patients with chronic spontaneous urticaria (CSU) during the first half of 2025 as well as a Phase 2 clinical trial of EVO301 in atopic dermatitis, with data from these studies expected in 2026

About Evommune, Inc.
Evommune, Inc. is a clinical-stage biotechnology company discovering and developing new ways to treat immune-mediated inflammatory diseases. The company is creating game-changing science with the goal of delivering therapies that address symptoms and halt progressive disease. For more information, please visit www.evommune.com or follow us on LinkedIn.

SOURCE Evommune, Inc

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European business takes total raised to $11m ahead of US launch & strategic review

ANTWERP, Belgium, Oct. 31, 2024 — Leading 3D animation software company Swoove Studios has closed a $7.5 million seed funding round led by European angel investors.

The round brings the total raised to $11m since its launch in 2020. Subsequently, it has started a strategic review as it continues to scale across Europe and launched this month in the US.

The Belgium-based business is the developer of Swoove, a real-time 3D animation creation app. Its proprietary platform, powered by AI, enables users to create unique 3D animation videos without any prior experience. Swoove empowers its users to easily bring their stories to life, using its intuitive platform to create stunning 3D animations. The app offers a diverse set of tools and features that cater to all levels of expertise, from beginners to seasoned creators.

The platform’s unique blend of accessibility and sophistication has resonated strongly with users, leading to increased engagement and content creation. It has become the go-to app for user-generated animated content, used by many thousands of creators in over 100 countries.

To further solidify Swoove Studios position as a leader in the digital storytelling space, it launched the app this month in the USA, accompanied by a series of exclusive features and content, including the Swoove marketplace. In this first-of-its-kind community, user-generated digital assets, such as clothes, can be bought and sold.

Rudy Verbeeck, CEO and Co-founder of Swoove Studios, said:

“Swoove is the future of 3D animated storytelling. We have created a unique platform and become the go-to for 3D animation globally.

We are thrilled to announce the completion of our latest funding round, and now plan to implement exciting updates to give users more of what they are asking for, including building opportunities for monetization and allowing further integration with other services for new brand and platform partnerships. 

As part of this incredible demand and opportunity, we want to work with a like-minded partner to help us achieve our potential and scale further.”

The Strategic Review includes Swoove Studios reviewing all its options, such as a growth investment and an entire business sale. Exploratory conversations have already commenced with several potential domestic and international partners. The Strategic Review is handled exclusively by Lazarus Consulting, the boutique M&A advisory firm.

ABOUT SWOOVE STUDIOS

Launched in 2020 and available via iOS and Android (iOS App Download Link and Android App Download Link), Swoove Studios is an entertainment software company that has developed the Swoove app, a real-time 3D-animation creation app using proprietary technology. Please see www.swoove.com for more information.

ABOUT LAZARUS CONSULTING

Lazarus Consulting is an award-winning boutique advisory firm offering Business Development, Capital Raising, Corporate Development, and M&A services to clients primarily in the tech, media, and retail sectors. The firm is the exclusive corporate finance advisor to Swoove Studios. Please see www.lazarusconsulting.net for more information.

SOURCE Swoove Studios

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