The platform enables enterprises to boost software development efficiency and enhance code quality by embracing AI-empowered coding, testing, and reviewing

TEL AVIV, Israel, Sept. 30, 2024 — Qodo (formerly CodiumAI), the generative AI code integrity platform, today announced $40 million in Series A funding, bringing the company’s total funding to $50M. The oversubscribed round was led by Susa Ventures and Square Peg, with participation from Firestreak Ventures, ICON Continuity Fund, and Seed investors TLV Partners and Vine Ventures. Just 18 months since exiting stealth, Qodo’s solutions have already been used by over 1M developers, and its enterprise platform has been adopted by industry leaders including multiple Fortune 100 companies.

The software development landscape is undergoing a radical transformation, with widespread adoption of AI-powered coding solutions and massive investment in the space. With AI rapidly gaining capabilities in code generation, developers will shift towards high-level tasks like defining business logic and system design. This trend has sparked excitement but also heightens concerns about code quality and the lack of necessary safeguards for successful enterprise-level implementation. As more code is AI-generated, ensuring its reliability becomes even more critical to prevent potential bugs that could impact millions of users.

Qodo’s approach to AI-empowered software development places a strong emphasis on code quality and reliability. The company’s comprehensive platform seamlessly integrates agentic AI into the environments where developers work, including popular IDEs, git platforms, and CLIs. Qodo assists with intelligent code generation, testing, thorough reviews, and documentation, prioritizing quality throughout the development lifecycle. Qodo has quickly gained strong enterprise traction with thousands of teams using its solution worldwide. Enterprise sales crossed $1M in ARR within three months of launching its enterprise offering in March of this year. Further, Qodo was recognized by Gartner last month as a Cool Vendor in AI-Augmented Development and Testing for Software Engineering, and was accepted earlier this month into AWS’ Generative AI Accelerator.

“As we shift towards AI-native code development, success won’t come from rushing to automate everything,” said Itamar Friedman, CEO and co-founder of Qodo. “Instead, we need to carefully integrate AI tools to enhance human expertise, focusing on quality and adaptability rather than just speed. Through comprehensive testing and reviewing, embedded into each stage of the software development lifecycle, we will be able to rely on AI agents as an integral part of the team, dramatically reducing fear of bugs or hallucinations.”

“Recent outage events highlight the devastating potential of errors within software,” said Jenna Zerker at Susa Ventures. “This affirms that enterprises absolutely cannot risk embracing a high degree of AI autonomy in software development without having the proper validation and safeguards in place first. We invested in Qodo because they’re taking on code development from the necessary quality-first mindset. Their approach mitigates risks and improves the reliability of code, providing immediate ROI for enterprises while unlocking tremendous value in enabling agentic software development.”

“AI agents play an increasingly pivotal role in software creation, and we believe a quality-first approach is key for their widespread adoption at the enterprise. Devs at the enterprise don’t ‘start from scratch,’ their code needs to work in harmony with tens of thousands of lines of code that are already there,” said Yonatan Sela at Square Peg. “The impressive grassroots adoption of Qodo paves the way for safer, more reliable AI-driven software development.”

Qodo’s traction comes on the heels of the release of its enterprise code integrity platform earlier this year. Central to Qodo’s enterprise solution is its advanced code analysis and indexing, using Retrieval Augmented Generation (RAG) techniques that enable context-aware code generation, testing and reviewing. Additionally, a dynamic best practices database enables adherence to each organization’s specific coding standards. The deep understanding of the unique context of each company’s code and knowledge of company-specific conventions, allows Qodo’s agents to provide more accurate, customized suggestions. Qodo’s enterprise platform also validates code correctness through an automated test-driven process where generated code is iteratively checked and fixed.

Contact:
Gavriel Cohen
Concrete Media for Qodo
[email protected] 

SOURCE Qodo

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

New capital fuels growth and innovation for company’s cloud access management solution

NEW YORK, Sept. 30, 2024 — Apono, the leader in privileged access for the cloud, today announced the successful completion of its Series A funding round, raising $15.5 million. The funding round was led by New Era Capital Partners, with participation from Mindset Ventures, Redseed Ventures, Silvertech Ventures, initial seed investors, and more.

The newly secured funds will be used to advance Apono’s mission of providing AI-driven, simple, innovative, and secure solutions that organizations need to manage access in complex, distributed cloud environments. Additionally, these newly secured funds will be used to accelerate product development and enable Apono to continue its growth, deliver unparalleled value to its customers, and solidify its position as a leader in the identity security space. This latest round brings the total investment from new and current investors to $20.5 million, underscoring strong investor confidence in Apono’s vision and capabilities.

Apono is a next-gen solution for cloud access governance. The company is committed to delivering capabilities that meet the dynamic needs of modern enterprises and support the development, operations and security teams responsible for securing and maintaining cloud environments they depend on. Apono’s innovative approach provides organizations with a deep understanding of privileged access within their cloud environments, enforces robust security guardrails, and leverages AI-driven least privilege and anomaly detection capabilities to enhance security measures while providing a frictionless experience for end-users.

“Today, more than ever, we are seeing a shift in the identity space,” said Apono’s Co-Founder and CEO Rom Carmel. “Privileged access management and identity governance are converging, driving the need for more holistic identity and access security solutions, particularly within today’s dynamic cloud environments in which modern businesses operate. As we continue our rapid growth, this funding will enable us to maintain our momentum and continue delivering cutting-edge solutions to our clients. Our investors were drawn to Apono’s unique AI-driven product offering, innovative approach, and its swift adoption by enterprises, recognizing the company’s potential to lead the identity security market.”

With this investment, Apono is set to significantly expand its US sales and marketing teams, while also expanding investments in research and development. After the company recorded a 300% increase in revenue the last 3 quarters, Apono has welcomed several key industry executives, further bolstering its market position and enhancing its ability to support a rapidly growing customer base. Customers can anticipate new AI-based access product offerings and improved support from Apono’s sales engineering and customer success teams, which have tripled in size in the US. Additionally, to meet the needs of new enterprise customers, the company has added enterprise support teams who will deliver the scale of service today’s enterprises require. These strategic developments will ensure seamless onboarding and continuous support for Apono’s expanding clientele.

“We are thrilled to support Apono in their mission to revolutionize identity and access security,” said Ziv Conen, Partner at New Era Capital Partners. “Apono’s innovative solution addresses critical challenges in the cloud access management space, providing organizations with robust, scalable solutions. This investment reflects our confidence in Apono’s vision and their ability to lead the market with cutting-edge technology and exceptional customer focus. We look forward to supporting Apono’s continued growth and success as they redefine how businesses manage and secure access in today’s dynamic environments.”

“We were able to self-service Apono in minutes, which significantly enhanced customer trust in our global multi-cloud platform. This seamless integration allows our teams to work without friction, ensuring efficiency and productivity. Moreover, it helps us maintain a least-privilege cloud environment, which is crucial for our security and compliance standards,” said Arthur Goren, Director of Cloud Engineering at Hewlett Packard Enterprise.

Apono is devoted to addressing the evolving needs of the identity and access security landscape, particularly as it has grown to play a more significant role in today’s modern cloud environment. Apono’s solution was built from the ground up to empower organizations to deliver just-in-time, just-enough access management at scale by bridging the security-operational gap in identity and access management. With a focus on innovation and customer success, Apono is poised to redefine how organizations manage and secure access, ensuring robust protection and seamless operations in an ever-changing digital world.

“In response to the growing complexity and security threats associated with cloud adoption, forward-thinking organizations are increasingly aligning the goals and workflows of their security and engineering teams,” said Katie Norton, Research Manager, DevSecOps and Software Supply Chain Security at IDC. “Cloud identity and privilege management are central to these alignment efforts. Apono’s approach to cloud privileged access management aligns with these goals and helps bridge the gap between security and engineering teams.”

For more information visit the Apono website here: www.apono.io.

About Apono:

Founded in 2022 by Rom Carmel (CEO) and Ofir Stein (CTO), Apono leadership leverages over 20 years of combined expertise in Cybersecurity and DevOps Infrastructure. Apono’s Cloud Privileged Access Platform offers companies Just-In-Time and Just-Enough privilege access, empowering organizations to seamlessly operate in the cloud by bridging the operational-security gap in access management. Today, Apono’s platform serves dozens of customers across the US, including Fortune 500 companies, and has been recognized in Gartner’s Magic Quadrant for Privileged Access Management.

Media Contact:
Lumina Communications
[email protected]

SOURCE Apono

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

SOUTH SAN FRANCISCO, Calif., Sept. 30, 2024 — Spiral Therapeutics, Inc. (Spiral), a clinical-stage company focused on developing novel therapies for inner ear disorders, announced the successful completion of the Phase 1b/2a clinical trial of SPT-2101 (6% dexamethasone) in Meniere’s disease. Data review of 21 patients showed a significant reduction in vertigo frequency and severity. 

The study recruited 21 patients across sites in Perth, Melbourne, and Sydney. The trial included two cohorts:

• Cohort 1: Single administration of SPT-2101 (6% dexamethasone) to 10 patients.
• Cohort 2: A 1:1 randomization with 6 patients receiving a single administration of SPT-2101 (50 µL of 6% dexamethasone) and 5 receiving a control (saline intratympanic injection), with an optional crossover opportunity for non-responders (3 patients crossed over).

Using Spiral’s proprietary Minimally Invasive Cochlear System (MICS™) platform in the clinic, dexamethasone was delivered precisely to the round window membrane for extended release in all study participants. No serious adverse events (SAEs) or unexpected adverse events (AEs) were reported, and no negative impact on hearing was observed. All patients experienced full resolution of the myringotomy.

The treatment with SPT-2101 showed superior vertigo management compared to the control group, with a statistically significant difference (p< 0.05). Additionally, non-responders in the placebo group who crossed over to receive SPT-2101 demonstrated a dramatic reduction in Definitive Vertigo Days at Month 3 (78.7%). The data suggest higher dexamethasone exposures correlated with improved vertigo management across the treatment period, regardless of baseline disease severity.

Dr. Habib Rizk, Director of the Vestibular Program at the Medical University of South Carolina and President of the Board of Directors of the Vestibular Disorders Association (VeDA), commented, “These preliminary results for SPT-2101 are exciting for Meniere’s disease patients debilitated by their vertigo episodes. Reliable delivery of steroids into the inner ear may be the key to having patients achieve remission. I am looking forward to seeing Spiral Therapeutics progress with Phase 3 studies to confirm these promising findings.”

Dr. Charles Limb, Chief of the Division of Otology, Neurotology, and Skull Base Surgery at UCSF and Chief Medical Officer of Spiral Therapeutics, added, “The encouraging outcomes from this trial reflect Spiral’s innovative approach, which combines the concurrent development of a novel therapeutic medication together with a unique delivery procedure using the world’s smallest microendoscope for clinical use in the ear. We look forward to continuing our clinical trials so that we can finally offer an effective treatment for Meniere’s disease.”

The clinical results of SPT-2101 (6% dexamethasone in a crosslinking gel formulation with an estimated two months of drug delivery time) surpass those of Otonomy’s OTO-104 (6% dexamethasone in a thermoreversible gel formulation) that was administered with a standard intratympanic injection for the treatment of Meniere’s disease and had consistently shown a small efficacy signal on the management of severe vertigo in this patient population. Spiral acquired data on OTO-104 and a right of reference from Otonomy in 2023. Across all measured endpoints, SPT-2101 demonstrated superior outcomes, validating Spiral’s approach.

“We are excited to share these positive early results that not only demonstrate the efficacy of SPT-2101 but also reinforce the value of the MICS™ platform, which ensures and extends drug exposure to the inner ear,” said Hugo Peris, Chief Executive Officer of Spiral Therapeutics. “These positive results mark a significant milestone in our mission to address the unmet needs of patients with Meniere’s disease. The ability to deliver precise, sustained doses of medication directly to the inner ear while remaining minimally invasive is a critical advance for the field.”

Spiral’s MICS™ platform provides precise and sustained drug delivery directly to the cochlea, addressing a key challenge in therapeutic treatment of the inner ear while maintaining a minimally invasive, clinic-friendly approach. This new paradigm is expected to enable successful clinical translation for a broad range of therapeutics that have shown preclinical promise for treating inner ear disorders.

Data Presentation
Spiral presented these results at a breakfast meeting with key opinion leaders during the American Academy of Otolaryngology Annual Meeting 2024 in Miami, FL, on September 28th. Further analyses are ongoing, and additional results will be reported in the coming weeks.

About SPT-2101

SPT-2101 is a long-acting dexamethasone formulation developed using Spiral Therapeutics’ Minimally Invasive Cochlear System (MICS™) for precise delivery to the round window membrane. This innovative platform ensures targeted, sustained drug release directly to the cochlea, addressing significant unmet needs in inner ear disorders. In clinical trials, SPT-2101 has shown promising results, with a substantial reduction in vertigo for patients with Meniere’s disease, significantly improving their quality of life.

About Spiral Therapeutics

Spiral Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing innovative therapies for inner ear disorders. Leveraging its proprietary Minimally Invasive Cochlear System (MICS™), Spiral enables precise, durable, and minimally invasive drug delivery directly to the cochlea. This groundbreaking platform addresses significant unmet medical needs in treating conditions such as hearing loss and balance disorders. Spiral’s therapeutic pipeline includes promising candidates aimed at improving the lives of patients suffering from these challenging conditions. For more information, visit: www.spiraltx.com.

Media Contact:
Hugo Peris
650-453-0893
[email protected]

SOURCE Spiral Therapeutics, Inc.

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

• Financing led by RA Capital Management and co-led by RTW Investments and Janus Henderson Investors
• Proceeds to further advance the company’s differentiated radiopharmaceuticals pipeline, including its first-in-class Nectin-4-targeted miniprotein radioconjugate
• Company will present three abstracts, including an oral presentation, at the EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics, October 23-25, 2024

BOSTON, Sept. 30, 2024 — Aktis Oncology, a clinical-stage biotechnology company pioneering the discovery and development of novel targeted alpha radiopharmaceuticals to treat a broad range of solid tumors, today announced the successful closing of an oversubscribed and upsized $175 million Series B financing. The financing was led by RA Capital Management, and co-led by RTW Investments and Janus Henderson Investors. A select syndicate of additional new investors joined the financing, including funds and accounts advised by T. Rowe Price Associates, Inc., Avidity Partners, and an undisclosed life sciences-focused investment fund. All existing institutional investors participated, as well as existing strategic investors Bristol Myers Squibb, Eli Lilly and Company, and MRL Ventures Fund, the therapeutics-focused corporate venture fund of Merck & Co., Inc.

Aktis Oncology also announced that three abstracts, including one oral presentation, have been accepted for presentation at the upcoming EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics in Barcelona, Spain, October 23-25, 2024. 

“The overwhelming support from high caliber investors underscores the progress we have made on our pipeline, platform, and supply chain capabilities, exemplified by the significant opportunity for AKY-1189, our first-in-class miniprotein alpha radioconjugate targeting Nectin-4 in development for several tumor types,” said Matthew Roden, PhD, President and Chief Executive Officer of Aktis Oncology. “With over $300 million in cash, we are well-positioned to prosecute several opportunities to expand the benefit of this exciting modality into new patient populations.”

In conjunction with the financing, Andrew Levin, MD, PhD, Partner and Managing Director at RA Capital Management, will join the Aktis Oncology Board of Directors. Lauren Lee, PhD, from RTW Investments, and Vish Sridharan, MD, from Janus Henderson Investors, will join as Observers to the Board of Directors.

“Aktis has leveraged its unique technology platform, experienced team, robust supply chain and radiopharmaceutical development capabilities to generate a promising and differentiated pipeline of next-generation radiopharmaceuticals,” said Andrew Levin, MD, PhD, Partner and Managing Director at RA Capital Management. “We are pleased to support Aktis through the next stage of its growth as it seeks to bring new options to patients with cancer.”

About Aktis Oncology

Aktis Oncology is a clinical stage biotechnology company pioneering the discovery and development of novel targeted alpha radiopharmaceuticals to treat a broad range of solid tumors. The company’s first of several pipeline programs targets Nectin-4, a tumor-associated antigen found in urothelial and other solid cancers. Founded and incubated by MPM BioImpact, the company has developed its proprietary miniprotein radioconjugate platform to generate tumor targeting agents with properties ideal for alpha radiopharmaceuticals. Designed to maximize tumor killing through high penetration followed by internalization and retention in cancer cells, Aktis’s miniprotein radioconjugates quickly clear from other areas of the body, thereby maximizing anticancer activity while minimizing side effects of treatment. The Aktis platform is isotope-agnostic and further enables clinicians to visualize and verify target engagement with imaging isotopes prior to exposure to therapeutic radioisotopes. Aktis also has a strategic collaboration with Eli Lilly and Company to leverage its miniprotein platform to develop novel radioconjugates outside of Aktis’ proprietary pipeline. To learn more about Aktis Oncology, visit www.aktisoncology.com.

MEDIA CONTACT
Terri Clevenger
ICR Westwicke
203-682-8297
[email protected]

INVESTOR CONTACT
Peter Vozzo 
ICR Westwicke
443-213-0505
[email protected]

SOURCE Aktis Oncology

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

NEW YORK, Sept. 30, 2024 — HungryPanda, the world’s leading overseas Asian food delivery platform, today announced the successful completion of a $55 million refinancing and fundraise. The round was led by Mars Growth Capital, a JV between Liquidity Group and MUFG,with continued support from HungryPanda’s existing investors, including Perwyn, Kinnevik, 83North, and Felix. This new funding will enable HungryPanda to solidify its leadership in the Asian food delivery market and explore new opportunities to serve a broader range of minority ethnic communities, particularly in North America.

Founded in 2017, HungryPanda has established itself as a global leader in Asian food delivery, operating in over 80 cities across 10 countries, serving more than 6.5 million users in partnership with over 100,000 merchants. In 2021, the company raised $130 million in Series D to expand into new markets and explore mergers and acquisitions. To date, HungryPanda has raised over $275 million in funding and has entered a new phase of business growth. In 2024, HungryPanda achieved profitability while maintaining an annual growth rate of over 30%—a remarkable achievement in the competitive food delivery industry.

“Reaching profitability while maintaining significant growth demonstrates the strength of our business model and our long-term vision. This success is a testament to the dedication and hard work of our entire team,” said Eric Liu, Founder and CEO of HungryPanda. “HungryPanda is more than just a delivery platform—we see ourselves as an ambassador of Asian cuisine. With this new funding, we are poised to accelerate our expansion into North America, elevate our services, and continue to champion the richness of Asian food culture on a global scale. We are especially grateful for the support from Mars Growth Capital and Liquidity Group, whose partnership will help us achieve our ambitious goals.”

“I am proud of how HungryPanda has positioned itself uniquely within the food delivery sector by focusing on the specific needs of Asian communities globally,” said David Buttress, Chairman of the Board at HungryPanda. “Our targeted approach and deep understanding of this market have been key drivers of our growth and success. “As we continue to scale, I am confident we will further solidify our leadership in this space and capitalize on new opportunities.” 

The new funding will enable HungryPanda to continue meeting the growing demand for Asian food and groceries, while upholding the high service standards its customers expect. In addition, HungryPanda remains committed to supporting its delivery riders by setting industry-leading standards for safety and offering sustainable gig work opportunities.

“HungryPanda has been able to carve out an impressive niche in the highly-competitive food delivery vertical, and as a result, has experienced double-digit growth while continuing to strengthen its position as a market leader,” said Paul Brodie, Managing Director, Europe at Mars Growth Capital and Liquidity Group. “We are excited to be part of HungryPanda’s next chapter along with its existing investors.”

About HungryPanda
Founded in 2017, HungryPanda is currently the largest overseas Asian food delivery platform and the only food delivery platform to rank in Deloitte’s 2021 UK Technology Fast 50. Starting in Nottingham, U.K., HungryPanda has expanded to more than 80 cities in 10 countries: the U.K., France, Italy, the U.S., Canada, Australia, New Zealand, Japan, South Korea and Singapore. Currently, HungryPanda works with over 80,000 riders, 100,000 merchants and serves over 6 million users worldwide. This year, HungryPanda sets sights on $1 billion in gross transaction volume. For more information visit www.hungrypanda.co.

About MARS Growth Capital
MARS Growth Capital, a joint venture between MUFG and Liquidity Group, provides advanced financing solutions to fintech, SaaS, and e-commerce businesses in Southeast Asia, the Pacific, and Europe. Utilizing Liquidity Group’s AI and machine learning, MARS offers credit and equity financing ranging from $3 million to $100 million for mid-market, late-stage, and pre-IPO technology companies. For more information, visit https://www.marsgrowth.com/

About Liquidity Group 
Liquidity Group is the leading AI-driven financial asset management firm in the world. With multi-billions across funds focused on North America, Asia-Pacific, Europe, and the Middle East, Liquidity Group operates globally with offices in Abu Dhabi, New York, London, Tel Aviv and Singapore. The firm’s patented decision science technology enables it to deploy more capital through more deals much faster than other firms in the capital markets industry, establishing it as the fastest-growing provider of credit and equity financing to mid-market and late-stage companies. Liquidity Group is backed by leading global financial institutions including Japan’s largest bank, MUFG, Spark Capital, Apollo Asset Management and others.

SOURCE HungryPanda

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

STRATFORD, Conn., Sept. 30, 2024 — TapestryHealth, a leading provider of innovative healthcare solutions, is pleased to announce the appointment of Bill Golden and Isaac Ullatil to its Board of Directors. These strategic additions bring a wealth of experience and expertise to the company, further strengthening its commitment to delivering exceptional healthcare services.

Bill Golden joins TapestryHealth with an impressive background from UnitedHealth Group, where he held several key leadership positions. He was most recently the CEO of the Employer and Individual business, a $60B division of UnitedHealthcare, serving over 27 million members. He also managed the Northeast Region and was CEO of the New York Health Plan for eight years. He became part of UHC through the Oxford Health Plans acquisition in 2004. His extensive experience in healthcare management and strategic planning will be invaluable as TapestryHealth continues to expand its services and reach.

Isaac Ullatil, the co-founder and former CEO of Hallmark Health Care, brings a deep understanding of healthcare operations and patient care. Recognized by The Healthcare Technology Report as one of the Top 50 Healthcare Technology CEOs in 2022, he has a strong track record of developing high-end technology solutions and reengineering business processes to optimize operations His proven track record in enhancing healthcare delivery and operational efficiency aligns perfectly with TapestryHealth’s mission to provide high-quality, patient-centered care.

“We are thrilled to welcome Bill and Isaac to our Board of Directors,” said Craig Anderson, CEO of TapestryHealth. “Their combined expertise and leadership will be instrumental in guiding TapestryHealth through our next phase of growth and innovation. We are confident that their contributions will help us achieve our strategic goals and enhance the quality of care we provide to our patients.”

TapestryHealth is committed to transforming healthcare through innovative solutions and exceptional service. The addition of Bill Golden and Isaac Ullatil to the Board of Directors underscores the company’s dedication to excellence and its vision for the future of healthcare.

For more information, please contact Mordy Eisenberg at [email protected]

About TapestryHealth
TapestryHealth is the leader in monitoring and managing the health risk of the nation’s chronically ill post-acute population, delivering daily patient-centric health risk analytics, monthly health assessments and continuous vitals monitoring using cutting edge technologies. Learn more at tapestryhealth.com.

SOURCE TapestryHealth

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

HONG KONG, Sept. 30, 2024 — RD Technologies announced the successful completion of its Series A1 financing, securing US$7.8 million. In this funding round, RD Technologies has secured strategic investments from prominent industry players like HongShan, Hivemind Capital, Aptos Labs, Hash Global, SNZ Capital, Solana Foundation, Anagram, and Upward Capital. The capital injection will enable RD Technologies to continue building a financial platform that bridges the Web2 and Web3 worlds and continue to contribute to the development of the Web3 ecosystem in Hong Kong. 

RD Technologies announced on 18th July 2024 that its subsidiary, RD InnoTech Limited, has been admitted to the stablecoin issuer sandbox of the Hong Kong Monetary Authority (HKMA). Among the first batch of entities to join the sandbox, RD Technologies is set to test its operational plan for its Hong Kong Dollar stablecoin within the HKMA sandbox. RD Technologies’ other subsidiary, RD Wallet Technologies Limited, has been granted a Stored Value Facility (SVF) license issued by the HKMA and has officially commenced operations at the end of 2023. Leveraging the platforms and capabilities of its subsidiaries, RD Technologies is able to build a trusted and compliant financial platform and network.

This Series A1 financing marks a notable achievement following RD Technologies’ seed round completed in 2020. RD Technologies has consistently garnered strong support from its initial stakeholders, including ZhongAn Digital Asset Group Limited (ZhongAn Digital Asset), HashKey Group, Dragonfly, Bright Venture, and Eminent Vision. This brings strong ecological support to RD Technologies, such as HashKey Exchange, a regulatory-compliant trading platform, Web3 infrastructure including HashKey Chain, as well as ZhongAn Digital Asset’s custody and asset management capabilities. Relying on the support of shareholders with strong backgrounds in both Web2 and Web3, as well as an experienced team, RD Technologies aims to bridge the gap between Web2 and Web3 and promote Hong Kong’s establishment as a leading global Web3 hub.

“The legacy payment industry is ripe to be disrupted using blockchain technology and stablecoins to provide more efficient and cheaper cross-border payment networks. Hong Kong is leading the world in virtual asset regulation. We are confident that compliant and transparent stablecoins will invigorate the market and address the pain points of traditional payments and finance to bring in institutions and help Hong Kong become a global Web3 hub”, said Rita Liu, CEO of RD Technologies.

Stanley Huo, Partner and Head of Asia at Hivemind, said, “Hivemind is thrilled to support RD Technologies as they seek to lead the future of stablecoins and cross-border payments. We believe regulated stablecoins are a critical growth area in crypto, offering real product-market fit, particularly as global demand for regulated stablecoins rises among enterprises and institutions. In our view, RD Technologies’ strategic positioning – led by an experienced team under Dr. Norman Chan and Ms. Rita Liu, with the strong support from the key Web3 stakeholders in Hong Kong – uniquely equips them to be a dominant force in Asia’s evolving financial landscape.”

– Ends –

About RD Technologies:

RD Technologies Group (RD Technologies) is the financial platform that bridges the Web2 and Web3 worlds. It deploys innovative fintech to build a business world interconnected by trust. Based in Hong Kong and connected with the global community, RD Technologies was born out of a mission to enable businesses to gain easier access to financial services, enhance trade efficiency, and promote the development of Hong Kong as a trade hub in Asia and an international financial centre. For details: https://rd.group

Compliant and innovative solutions managed by subsidiaries under RD Technologies include:

• RD Wallet: 

RD Wallet Technologies Limited (RD Wallet) is a licensed Stored Value Facility in Hong Kong (licence number: SVF0016). It enables global businesses to open multi-currency fiat accounts on mobile anytime, anywhere. RD Wallet is committed to facilitating cross-border trade and payments through efficient and innovative payment solutions for businesses, and contributing to the development of Hong Kong as a trade and financial hub in Asia. For details about RD Wallet: https://rd.group/products/wallet/

• HKDR Stablecoin (HKDR):

HKDR Stablecoin (HKDR) is a trusted Hong Kong Dollar stablecoin 1:1 backed by the Hong Kong dollar, with high-quality and highly liquid assets safekept in segregated custody accounts with licensed financial institutions. Details of the reserves will be available to the public through regular independent attestation reports.  In July 2024, RD InnoTech Limited, the issuer of HKDR, was among the first batch of entities to be admitted to the stablecoin issuer sandbox by the Hong Kong Monetary Authority.  RD InnoTech Limited will abide stringently by the regulatory requirements for the launch of HKDR to contribute to the continuous development of Hong Kong as a global Web3 and virtual asset hub. For details about HKDR: https://rd.group/hkdr

SOURCE RD Technologies

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

HONG KONG, Sept. 29, 2024 — Tired of sacrificing taste for nutrition? Try Future Salad, the world’s first carbon-neutral drinkable salad. It supports a healthy lifestyle and combats climate change. In September 2024, on its 4th anniversary, Future Salad completed a Series A funding round to expand into new markets and develop products.

Completion of Series A Funding to Drive New Market Expansion and R&D
Future Salad, the pioneering food technology company behind the world’s first carbon-neutral drinkable salad, announced the successful completion of its Series A funding round in September 2024. The company secured US$5 million, raising its valuation to US$50 million. The investment was led by DL Securities, a subsidiary of DL Holdings Group (1709.HK), with participation from returning investor Bruce Rockowitz.

Joseph Lang, CEO of DL Securities, commented on the investment: “Future Salad’s innovative approach to nutrition and sustainability aligns perfectly with our investment strategy. We’re confident this funding will catalyze their growth and market penetration, especially in the U.S.”

The company’s growth trajectory has been impressive, with its previous Pre-A+ round in October 2022 raising US$3 million and valuing the company at over US$26 million. The involvement of Bruce Rockowitz, a seasoned Canadian businessman, is expected to leverage his extensive business network to support Future Salad’s expansion in Western markets.

D = Detox, Drinkable and Delicious Healthy Option
Future Salad’s flagship product, the Detox Salad Drink Mix, has sold over 4 million packs since 2020 and is now available on Amazon and the US market. This nutritious drink aids detoxification, supporting gut health and enhancing energy, skin clarity, and overall vitality. Due to popular demand, Future Salad will launch Future Salad Kids® in the fourth quarter of this year.

Proven Results with Detox and Drinkable Benefits
In a recent weight loss challenge endorsed by Bupa, 18 participants achieved impressive results, including weight, waistline, and body fat reduction. They also lowered blood pressure and improved cholesterol and triglyceride levels. One participant reduced their body weight by 40%. These results highlight the effectiveness of Future Salad in promoting health and well-being.

A Sustainable Choice
Future Salad has a positive environmental impact. Each pack helps reduce 22 grams of CO2 through a global tree planting program, certified by VERRA’s Verified Carbon Standard, achieving over 100,000 kilograms of carbon reduction. By choosing Future Salad, you’re nourishing your body and supporting a greener planet. Incorporate Future Salad into your routine for its delicious taste, nutritional benefits, and eco-friendly credentials. It’s the perfect choice for a healthy lifestyle and a sustainable future. Sip Your Way to a Healthier You and a Greener Planet.

ABOUT FUTURE SALAD
Founded in 2020 and established in Hong Kong, Future Salad is a pioneering future food technology company that specializes in providing cutting-edge, nature-inspired, and technologically innovative healthy food solutions. Leveraging freeze-dry technology, Future Salad transforms traditional salads, preserving their nutritional value and delivering a convenient and affordable dining alternative for busy individuals. The flagship product, the Detox Salad Drink Mix, has garnered widespread consumer acclaim, with over 4,000,000 packs sold since its introduction.

Future Salad is also dedicated to making a positive environmental impact. Each pack consumed helps reduce 22 grams of carbon dioxide through the company’s global tree planting program. This initiative is certified by VERRA’s Verified Carbon Standard (VCS), underscoring Future Salad’s commitment to sustainability.

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

ABOUT DL SECURITIES
DL Securities, a subsidiary of DL Holdings Group(1709.HK), provides a comprehensive range of financial services tailored to meet clients’ unique needs. With expertise in securities trading, financial advisory, and investment research, DL Securities assists individuals and corporate clients in achieving their investment objectives. For more information, please visit https://dl-holdings.com/en/our-services-dls

ABOUT DL HOLDINGS GROUP
DL Holdings Group is listed on the mainboard of Hong Kong Stock Exchange (1709.HK), with market value near USD$1 Billion. DL is a prominent asset management and financial services platform, with a core focus on family office in the Asia-Pacific region. Our commitment is to provide personalized wealth management and succession services throughout the entire life cycle for ultra-high net worth families. Additionally, we offer global asset allocation and management services to high-net-worth families, financial institutions, private enterprises, and external wealth management platforms. Under its subsidiary SeazonPacific, operates an apparel sales business dedicated to providing comprehensive supply chain management solutions for its clients.

CONTACT: Angus Au, +852 6570 0000, [email protected]

SOURCE Future Salad

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

The Capital will Fuel Republic’s Rapid Growth and Expansion

NEW YORK, Sept. 27, 2024 — Republic Capital Group (“Republic”), a leader in providing investment banking services to the wealth and asset management industry and their clients, is pleased to announce a minority, non-control investment from Merchant Investment Management (“Merchant”). This reflects Republic’s industry leadership, rapid growth and commitment to be the most comprehensive investment banking solution to wealth and asset management firms and their clients.

Merchant’s ecosystem includes $180B in assets in the wealth and asset management industry, and they have invested in multiple service providers including regulatory and compliance, technology, and business transition and accounting services.

Since its founding 9 years ago, Republic has made an indelible mark on the wealth and asset management industry through creating and leading many noteworthy transactions. In 2019, the firm was awarded “Financial Services Deal of the Year” by M&A Advisor, beating out firms such as Yahoo and PayPal. In 2022 and 2023, Republic advised on more wealth management assets transacted than any other group in their space. In 2023, Republic sourced and led the largest acquisition of a CPA firm by a wealth management firm in history when it represented Creative Planning in its acquisition of BerganKDV. This, along with other significant transactions, led to winning “M&A Deal of the Year” for all categories and being named “Boutique Investment Banking Firm of the Year” for 2023 by M&A Advisor.

John Langston, CEO and Founder of Republic said, “We are pleased to receive this investment and be part of a concerted effort to support and build the independent wealth and asset management services ecosystem broadly. Merchant’s willingness to collaborate with other industry players along with their deep understanding of our space made them an ideal partner for us.”

Marc Spilker, Co-Founder and Executive Chairman of Merchant, stated, “Merchant and Republic are united by a shared vision for the wealth management industry: to ensure the RIA community has access to the best advice, execution, and capital formation. The strength of this partnership lies in the alignment of our values and the cultural synergy between both firms, which will drive its success.'”

John Langston added, “I want to thank our deal team at Republic of Marc Irizarry (Partner), Jim Collins (General Counsel), Blake Cargill (Partner), and Vic Esclamado (Partner) for their exceptional work and support on this project. Thank you to the entire Republic team for all your work and belief in building something special. You are what is special about Republic, and I’m deeply grateful for you.” 

About Republic Capital Group 
Republic Capital Group provides investment banking services to wealth and asset management industry and their clients. We partner with firms that are at the leading edge of M&A activity and are active participants in the growth and evolution of the industry. 

For more information, please visit republiccapgroup.com and follow us on LinkedIn: linkedin.com/company/republic-capital-group.

Republic Capital Group – securities offered through Kingswood Capital Partners, LLC. 

SOURCE Republic Capital Group

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In