Dr. Bruce B. Lee Appointed to Theromics Advisory Board to Guide Company’s Women’s Health Effort

WEST BRIDGEWATER, Mass., March 12, 2024 — Theromics Inc., a leading developer of products for the interventional oncology and interventional radiology markets, has announced the receipt of a $1M STTR Phase II grant from the National Science Foundation. The funding will support further studies of the company’s innovative technology, HeatSYNC™, a nano-polymer gel designed to enhance the effectiveness of ablation therapy of abnormal tissue and allow controlled delivery of drugs directly into soft tissue with reduced side effects.

“Our HeatSYNC technology represents a significant advancement in the field of interventional medicine,” said Ron Murphy, CEO of Theromics Inc. “Our novel biopolymer not only enhances traditional ablation procedures but also opens up new possibilities for energy-activated drug delivery. “

The newly developed nanogel can be infused with drugs to create a unique combination therapy that precisely targets abnormal tissue with potentially fewer side effects than systemic administration. This cutting-edge approach can potentially revolutionize treatment options for patients undergoing ablation procedures.

In addition to receiving the NSF grant, Theromics Inc. is pleased to announce that Dr. Bruce Lee, MD., has joined the team as a medical advisor. Dr. Lee brings twenty-nine years of clinical and research experience as a board-certified gynecologist and inventor of Acessa – an FDA-approved alternative to hysterectomy and myomectomy.

“We see a significant opportunity to apply our innovative HeatSYNC technology to address the growing need for new approaches to ablating uterine fibroids and abnormal uterine bleeding. Integrating Dr. Lee’s expertise into our team will be invaluable as we continue to develop this new application of our platform technology for this growing women’s health market and prepare to initiate a pivotal study later this year,” said Murphy.

The studies supported by the NSF grant # 2301440 will be led by Theromics Chief Science Officer William Park, Ph.D., and Principal Investigator at prestigious institutions such as Brown University, Dartmouth College, and Kansas State University. Damian Dupuy, MD, co-founder and chief medical officer of Theromics, will oversee ablation procedures at the various institutions. Dr. Dupuy has over two hundred publications in professional journals and is one of the pioneers in image-guided thermal ablation. The data generated from these studies will further expand upon the initial Phase I work, developing computer modeling and establishing the energy augmentation effects of the gel technology The Phase II studies will study gel safety and performance and will include a chronic safety study, a critical step towards FDA clearance for the ablation and coagulation of soft tissue.

About Theromics Inc:
Theromics Inc. was founded in 2016 at Brown University to develop innovative products for the soft tissue ablation and drug delivery markets. The company’s flagship products, HeatSYNC and the new CryoSYNC gel, are injectable nano-polymers that enhance the movement of energy in tissue. This makes energy-directed therapies like ablation more effective and reduces the likelihood of recurrence. The company plans to submit its products to the FDA for approval this year, with commercialization expected to begin in 2025. Theromics’ platform has various applications in targeted drug delivery with fewer side effects, women’s health, and orthopedic nerve ablation for chronic pain relief.

Contact:

Ronald Murphy

+1 (508) 942-8477

[email protected]

SOURCE Theromics Inc.

NEW YORK, March 12, 2024 — Eckuity Capital, a New York and London-based growth and venture capital investor, has appointed Dr Victoria Manax Rutson (Dr Manax) as a new Partner of the company. Dr Manax joins the globally focused life science, healthcare and technology focused firm that recently closed its $150 million Fund, that brings strong scientific, medical and business expertise together to partner with companies aiming to deliver positive impact on healthcare outcomes, wellness, and enhancement of the human condition.

Dr Manax is an accomplished medical oncologist with over two decades of expertise in the pharmaceutical/biotech industry, focusing on global drug/device development, nanomedicines, and product launch /commercialization. She has made indelible contributions to the field, particularly in shaping clinical trial landscapes with adaptive platform designs and biomarker integration.

Renowned for her innovative clinical trial designs, Dr Manax played a pivotal role in the development, approval, and launch of billion-dollar products, including the standard of care for pancreatic cancer. Holding multiple leadership/executive positions in companies such as Abraxis Bioscience, Celgene (BMS), MedSurge PI, and Duo Oncology, she has also served as the inaugural Chief Medical Officer for the Pancreatic Cancer Action Network, earning recognition as a respected panelist among FDA and regulatory agencies worldwide. Effectively overseeing numerous multimillion-dollar global clinical trial programs, Dr Manax holds multiple clinical advisories, chair positions, and patents, exemplifying her commitment to advancing medical science and patient well-being.

“Over the last 16 years, I have actively syndicated and participated in a range of investments, spanning venture debt, medical real estate, and Class A multifamily assets, but at the same time have been advising large pharmaceutical companies on their clinical strategy. Eckuity Capital provides me the opportunity to bring together the things I love doing most. I am very excited about joining Eckuity Capital, the firm has access to phenomenal investment opportunities and has one of the smartest investment strategies I have encountered,” said Dr Manax.

“Victoria brings tremendous value to us but particularly to our investments. Clinical trial design has always been the key component of therapeutic success but today, more than ever it is at the heart of value creation – the right language in the product’s label can add very significant value and wrong clinical trial strategy can add very significant costs to an early-stage company,” said Youssef Sebban, Managing Partner of Eckuity Capital. “We are delighted to welcome Victoria to the team.”

About Eckuity Capital
Eckuity Capital is a leading global growth and venture capital investor. Eckuity actively invests in life science, healthcare and tech companies that can deliver a strong positive impact on healthcare outcomes, wellness, and enhancement of the human condition. Based in New York, London, and Paris, the firm brings together a team of global investment professionals with strong scientific, medical and business expertise. Eckuity actively partners with ambitious entrepreneurs to create value and accelerate success. Eckuity.com

SOURCE Eckuity

VANCOUVER, BC, March 12, 2024 — Codezero, the innovator in secure enterprise microservices development, today announced a $3.5 million seed-funding round led by Ballistic Ventures, the venture capital firm dedicated exclusively to funding entrepreneurs and innovations in cybersecurity. This investment marks a significant leap forward in Codezero’s mission to reimagine multi-cloud, collaborative microservices development. Ballistic Ventures’ investment adds to the support from its existing, impressive list of angel investors and advisors, including Thomas Dohmke (GitHub CEO), Nick Caldwell (Microsoft, HubSpot, and Peloton), Marty Weiner (Pinterest and Reddit), and James Routh (AMEX, CVS, KPMG, and JPMorgan Chase).

“Multi-cloud, microservices-based architectures have become essential for digital business transformation. However, developing microservices across disparate cloud environments can force tradeoffs between developer productivity and security. Codezero eliminates these tradeoffs,” said Reed Clayton, Co-founder and CEO of Codezero. “Our mission is to empower DevOps teams with collaborative, multi-cloud infrastructure that prioritizes both security and developer productivity. As a cybersecurity-focused VC firm, Ballistic shares in this mission, and we’re thrilled to be a part of their portfolio.”

The “developer security problem” refers to a complex set of risks and vulnerabilities arising from the multiple levels of access and control that developers require over various staging and production systems. This situation is fraught with unintended risks, given that developers often require elevated permissions to create, manage, and deploy software and infrastructure. Codezero Teamspaces is an identity-aware overlay network. This means developers can instantly create environments consisting of services spanning local, cloud, and even their colleagues’ computers. They can do this without needing to know anything about the underlying infrastructure, networking, or direct access to credentials. Unlike other approaches, Teamspaces provides a locally accessible ephemeral environment that is identical to production. As a result, developers are vastly more productive and can deliver higher-quality code faster. Teamspaces can span multiple cloud vendors and be accessible to developers across the globe safely and seamlessly.

“Our investment in Codezero fits squarely into two of our investment themes. The Codezero solution solves what is arguably the largest outstanding issue in the ‘Shift-Left’ security theme. It also brings a scalable and manageable ‘Zero Trust’ approach to the provisioning of developer access,” said Roger Thornton, General Partner of Ballistic Ventures, who joins the Codezero Board of Directors as part of the firm’s investment. “With their impressive team and technology, we’re excited to have Codezero join the portfolio.”

With the new capital, Codezero is set to grow its sales and marketing teams and expand its partner network. This move is strategic for the company’s reach into enterprise DevOps and DevSecOps organizations, cloud-service providers, and cloud-migration specialists.

Developers and IT professionals from all organizations are invited to transform their microservices development with Codezero Teamspaces. Learn more at codezero.io.

About Codezero
Codezero is at the forefront of microservices development, employing an identity-aware overlay network that delivers transparent security to DevOps. By pioneering the use of dynamic Teamspaces, Codezero facilitates unparalleled collaboration, freeing DevOps teams from the complexities of infrastructure management and the pitfalls of passwords and secrets while still enabling them to use their preferred tools within a secure, streamlined ecosystem. At Codezero, our mission is clear: Code boldly!

About Ballistic Ventures
Ballistic Ventures is a venture capital firm solely dedicated to early-stage cybersecurity and cyber-related companies. The partners have spent their entire careers defending against every cyber threat conceivable. Members of the firm have founded, operated, and funded over 90 successful cybersecurity firms – including Abnormal Security, AlienVault, ArcSight, Fortify, Mandiant, and Shape Security – led over 10,000 security professionals globally, and have 40+ years of experience in venture capital. Our experience provides entrepreneurs impactful support from people focused on the same mission. Our networks and relationships open doors for our founders. Learn more at ballisticventures.com.

SOURCE Codezero

Proprietary Machine Learning Models Measure and Predict Impact of Media Campaigns on Direct-to-Consumer and Amazon Sales

MIAMI, March 12, 2024 — After more than 30x revenue growth in 2023, Prescient AI, a pioneer in AI-powered media measurement and optimization, has raised $10M in Series A funding led by Headline and CEAS Investments. Brands like GOOD AMERICAN, HexClad, Cozy Earth, and Nood, that use the Prescient AI platform to predict profitability and maximize revenue generated by advertising campaigns, have increased return on ad spend (ROAS) by an average of 20%. Previous investors Blumberg Capital and Focal VC also participated in the round.

“Before working with Prescient AI, we were confident in our monthly channel allocations but needed daily insights we could trust to shift our ad spend at the campaign level,” said Cameron Bush, Director of Growth Marketing for HexClad, leader in the cookware category in North America. “Using the platform’s suggestions during our crucial Q4 period resulted in a 30% increase in ROAS and an 85% increase in revenue generated by our media campaigns.”

Prescient AI uses first-party data and proprietary machine learning models to accurately determine both the direct impact of ads that users engage with, as well as the “halo effects” of all the ads consumers see, but don’t click on. These models are specifically tailored for each individual brand to attribute all of the omnichannel revenue across the entire media mix. Prescient AI also forecasts the outcome of future spend with rigorous backtesting techniques to provide accuracy and confidence scores with each recommendation on the platform. 

“Every marketer wants to know exactly where to spend to get the best results, but reliable answers are difficult to pinpoint and they continuously change with the business environment,” said Taylor Brandt, Vice President at Headline. “Prescient AI has proven its advanced AI solutions will consistently deliver accurate results and recommendations that brands can trust. They are the experts building for the future of media optimization and we are thrilled to welcome Prescient AI to the Headline portfolio.”

As brands keep adding new revenue channels and digital marketing continues to grow more complex, user-level tracking is only becoming more restricted due to consumer data-privacy protections. As a result, it’s nearly impossible to piece together buyer click-paths using platform reported data or multi-touch attribution (MTA) methods that are still commonly used today. Marketers are left to make critical spend decisions based on incomplete performance reports that rarely add up with sales data.

“For decades, the marketing analytics industry has been distracted by the promise of tracking pixels and click-based attribution models, but marketers don’t need user-level tracking to get reliable insights,” said Michael True, CEO and Cofounder at Prescient AI. “Whether it’s new privacy policies, updates to platform technology, or shifts in consumer behavior, the Prescient AI-trained models don’t weaken with change, they learn from it.”

Today, Prescient AI also launched early access to an evolution of their attribution model that measures the halo-effects of ad campaigns on sales in the Amazon marketplace. Rather than clicking and navigating to a brand’s website when they see an ad, many consumers today will search for the items on the world’s largest online marketplace. As brands try to capture those customers by adding Amazon as a sales channel, they need clarity into how marketing drives revenue through the marketplace as well as their direct-to-consumer owned sites. 

“With this new funding we will continue expanding our platform to vastly increase our sales and media channel integration coverage,” continued True. “And to keep delivering product enhancements that allow our customers to make confident budget decisions.”

“CEAS is very proud to continue backing the team at Prescient AI, who have demonstrated that they are building the next generation of marketing mix optimization tools for ecommerce brands,” said Ronnie Martinez, at CEAS Investments. “Unlike anything else on the market, their AI solution gives pinpointed recommendations, while considering and quantifying the impact of cross-channel awareness via halo effects.”

Prescient AI was built from the ground up to avoid high costs, integration complications, and delayed time to value associated with Marketing Mix Modeling (MMM) solutions of the past. Sales and marketing channels can be connected to the Prescient platform in minutes and actionable campaign performance insights are revealed in a matter of days. Daily insights enable marketers to continuously optimize budget allocation and be confident that every dollar is being spent where it will return the most value.

Learn more about Prescient AI or set up a free demo at www.prescient-ai.io. Customers who would like to beta-test the new Amazon halo-effects solution can register here www.prescient-ai.io/amazon.

About Prescient AI
Prescient AI provides media measurement and budget optimization solutions that enable omnichannel ecommerce brands to predict profitability and maximize revenue generated by advertising campaigns. Powered by proprietary machine learning models, the Prescient platform accurately attributes revenue across the entire media mix and provides daily updates and campaign-level recommendations to improve return on ad spend (ROAS) and lower customer acquisition costs. Unlike media attribution and marketing mix modeling (MMM) of the past, Prescient AI measures media halo effects to determine how campaigns indirectly impact sales and its accuracy is not affected by data-privacy restrictions or changes in the business environment. Prescient AI can connect to channels in minutes, including Shopify, Amazon, Meta, Google, Snap, TikTok, CTV, and more. Within days, the platform delivers usable insights about how much revenue each channel and campaign contributes through direct-to-consumer owned sites and the Amazon marketplace. Brands like GOOD AMERICAN, HexClad, Cozy Earth and Nood using the Prescient platform have seen an average increase in ROAS of 20%. Visit www.prescient-ai.io for more information.

SOURCE Prescient AI

CAMBRIDGE, Mass., March 12, 2024 — The Harvard Alumni Entrepreneurs Accelerator Powered by Pegasus Tech Ventures is excited to unveil its 2024 cohort, comprising 12 pathbreaking startups founded by Harvard alumni. These ventures span various sectors, demonstrating innovation and a commitment to addressing contemporary challenges with cutting-edge solutions.

The 2024 cohort includes:

Aimiable: Founded by Olga Gomonova, this AI operating system enhances customer support with predictive analytics and intelligent routing. Harvard Business School.

Berilium: Alberto Guillen Salas founded this digital wealth management platform to offer access to alternative investment strategies. Harvard Business School.

Delfino AI: Launched by Sneh Patel, this platform automates routine insurance calls for doctors’ offices, increasing efficiency. Harvard Business School.

FanEQT: Founded by Usman Shuja, this platform creates a marketplace for sports asset monetization, including stadium fractional ownership. Harvard Kennedy School

Fiduciary in a Box: Jed Cohen, established this platform to help employers navigate health benefits risk management and comply with new fiduciary regulations. Harvard College.

GuardianSat™: Founded by Christopher Rohe , this company addresses space debris management in Geostationary Earth Orbit (GEO). Harvard Kennedy School.

Inquisio: Joshua Penner founded this platform to improve public records request processes for local governments. Harvard Extension School.

Kedi Labs: This pet health company, founded by Michelle Frye, offers at-home diagnostic kits for pets. Harvard T.H. Chan School of Public Health.

PathCision Medicine: David Lee launched this biopharma firm to develop therapies for incurable diseases. Harvard Graduate School of Arts and Sciences.

Platform: Revolutionizing construction with the Platform Method™, this company was founded by Adrian Washington. Harvard Business School.

Sugarwork: Alumni Vanessa Liu, Harvard Radcliffe College and Harvard Law School, and Judith Williams, Harvard Radcliffe College, co-founded this knowledge-sharing platform using generative AI.

Vocadian: Founded by Amelia Eginton, this company provides predictive fatigue risk management using voice AI. Harvard Business School.

These startups will participate in an intensive ten-week virtual program, gaining access to mentorship, investor networks, and expert guidance to accelerate their growth and impact.

The program ends with Demo Day, when each startup showcases its innovations to a panel of investors and a curated audience, seeking further investment and partnerships to scale their solutions. The winner of Demo Day will go on to the Startup World Cup competition to pitch for a $1 Million grand prize.

For more details on the Harvard Alumni Entrepreneurs Accelerator and the 2024 cohort, go to: https://www.harvardae.org/2024-cohort

About Harvard Alumni Entrepreneurs
Harvard Alumni Entrepreneurs (HarvardAE) is a non-profit organization with 20 chapters globally, connecting over 19,000 alumni, faculty, students, and friends, from across the university and around the globe.

Besides the Accelerator, HarvardAE offers a variety of programs to support entrepreneurs including events, bootcamps, the highly regarded podcast, HAE Invites as well as initiatives as the Council for Women Entrepreneurs. Visit www.harvarddae.org

Pegasus Tech Ventures is a Silicon Valley-based global venture capital firm, managing over $2 billion in assets. It provides strategic and financial support to burgeoning tech companies globally. Unique in its offerings is their Venture Capital-as-a-Service (VCaaS) model to large corporations, enabling them to engage with innovative startups. Over 35 corporate giants like ASUS and SEGA have partnered with Pegasus to access its extensive portfolio, including industry leaders like SpaceX and Airbnb. Pegasus also spearheads the Startup World Cup, a premier global competition reaching over 70 countries, fostering regional innovation and offering a $1 million investment prize. Visit www.pegasutechventures.com and www.startupworldcup.io for details.

Contacts
Harvard Alumni Entrepreneurs:
Regina Ryan, President, Harvard Alumni Entrepreneurs
Email: [email protected]
Cell/WhatsApp: +1-617-803-0623
Pegasus Tech Ventures:
Janice Mok, Marketing Manager, Pegasus Tech Ventures
Email: j[email protected]
Cell/WhatsApp: +1-650-919-3182

SOURCE Harvard Alumni Entrepreneurs

AI-powered observability command center enables manufacturers to solve their highest-priority field quality issues impacting their customers from the earliest warning signals, with client base including Baxter, Cummins, Newell, and more

NEW YORK, March 12, 2024 — Axion Ray, the AI observability command center relied on by leading manufacturing companies to detect and solve emerging field quality issues affecting their customers, announced a $17.5 million Series A funding round led by Bessemer Venture Partners including strategic investment from RTX Ventures; existing investors, Amplo and Inspired Capital participated in the round as well. This Series A funding round brings the company’s total funding to $25 million. With this investment, Axion Ray will further expand its AI capabilities within technical issue detection and scale its go-to-market effort to new industries.

“Poor quality costs manufacturers trillions of dollars every year, and when a product recall occurs, each day a manufacturer is unaware of the issue can cost them millions of dollars more,” said Daniel First, founder and CEO of Axion Ray. “Axion Ray puts AI directly into the hands of field engineers to detect, investigate, and resolve these issues. This financing will allow us to scale our business and empower enterprises to solve their most important business problems, by enabling better cross-functional investigation accelerated with Al.”

Daniel First founded Axion Ray with the goal to help manufacturers solve their highest priority emerging issues that affect customers, as early as possible. The company’s novel AI command center flags technical issues months earlier, preventing injury, losses in warranty costs and customer downtime. Axion’s growing customer base includes leading Fortune 500 manufacturers, such as Baxter, Cummins, Newell, Boeing, Pratt & Whitney, DENSO, and other manufacturers across electronics, automotive, medical devices and consumer products.

On average, poor product quality costs manufacturers up to 10% of their annual revenue. By leveraging Axion Ray’s AI platform, customers have increased product quality while decreasing downtime by an average of 27% leading to improved customer experience and on average, a 16% reduction in warranty and service cost.

“Axion Ray has emerged as a clear market leader in automating workflows for field engineers to identify quality problems faster. The excitement we’ve heard from customers about Axion tells us the company is delivering clear and massive impact,” said Kent Bennett, Partner at Bessemer Venture Partners. “The ROI their AI command center delivers to improve uptime, customer satisfaction, and reduce cost has been a catalyst for significant growth within the customer base. We look forward to continuing our work with Axion Ray as they transform proactive AI-powered observability across industries globally.”

“Collaborating with Axion Ray has revolutionized our approach to quality,” said Michael Rohrer, Director Global Quality and Quality Conference Board Member. “Axion Ray’s unwavering commitment to excellence and cutting-edge AI solutions will not only streamline our processes but also significantly enhance the efficiency of nonconformance detection in the field. This will empower our team to react much faster, ensuring a swift and accurate response to any challenges. I am genuinely excited about the transformative possibilities that lie ahead in this collaboration. I anticipate a fruitful partnership and are eager to witness the positive impact it will undoubtedly have on our operations.”

“Identifying AI solutions that enable us to improve quality, support our workforce, and increase productivity is a top priority for the team at RTX Ventures,” said Daniel Ateya, president & managing director at RTX Ventures. “This investment underscores our confidence in Axion Ray and its AI platform to accomplish just that and aligns with our commitment to continuing to support visionary companies driving the future of manufacturing.”

Axion plans to grow its U.S. presence by expanding its workforce, hiring across sales, customer success and engineering as they continue to expand their capabilities for field quality and service leaders.

About Axion Ray
Axion Ray is the leading AI observability command center relied on by global manufacturing companies to detect and solve emerging quality issues affecting customers at the earliest warning signals. Axion Ray’s growing customer base includes leading Fortune 500 manufacturers, such as Baxter, Cummins, Newell, Boeing, Pratt & Whitney, DENSO, and other manufacturers across electronics, automotive, medical devices and consumer products. The company is backed by leading investment firms including Bessemer Venture Partners, RTX Ventures, Amplo and Inspired Capital, along with other multinational manufacturers. Axion Ray is headquartered in Brooklyn, New York. To learn more visit axionray.com or connect on LinkedIn.

SOURCE Axion Ray

At a time when confidence in kids is at an all-time low, Legends gives families an easy & accessible way to improve their practical life skills and mental health 

SAN FRANCISCO, March 12, 2024 — Legends, the confidence-training platform for kids, launched out of stealth today and announced $6M in seed funding from tech and education VCs, including Floodgate Capital, Reach Capital, and individual investors, including technologist Joe Liemandt. This investment will accelerate Legends’ mission of building self-confidence in kids, innovating the $1.5 trillion education industry, and providing families with accessible, affordable learning tools that teach practical life skills.

The Legends team spent three years researching future preparedness and the rise of mental health issues in elementary school children and found that low confidence, which leads to issues like anxiety and depression, is one of the biggest problems facing kids today. Their survey of 1,200 families showed confidence declining from 60% to 38% between ages 12 and 14. The majority of families surveyed also cited confidence as the number one skill parents want for their kids.

Legends was built to address this issue and offers a subscription platform for kids aged 7 to 11 to use with their parents. Families are texted 5-minute confidence “workouts” daily, including an inspiring micro-documentary about a legendary person, plus an interactive exercise that reinforces the theme of the day. Confidence levels are assessed using a unique “confidence profile”, which combines user feedback with AI-assisted analysis. Since operating in beta, over 90% of kids using the platform have shown a measurable improvement in their confidence levels within the first 90 days.

“We’ve been led to believe confidence is something you’re born with, but it’s a skill, not a trait, and so it can be trained,” says Legends CEO & founder Sonny Caberwal. “Through our research, we’ve found that just five minutes of practice a day can significantly improve a kids’ confidence, giving them critical skills that will support and empower them throughout their life.”

In addition to the $6m in seed funding, Legends has also raised $1m to start the Legends Lab Foundation, a non-profit focused on improving accessibility to resources that help with confidence and related skills, led by Sue Wasiolek, who served as Duke University’s Dean of Students for over 40 years.

ABOUT LEGENDS:

Legends is a confidence-training platform that helps kids improve their confidence through daily practice and build skills that will ready them for the future. Designed for kids ages 7-11 and their parents, families receive daily, 5-minute confidence “workouts” with inspiring videos about legendary people—from celebrated artists and athletes to trailblazing scientists—plus interactive exercises that reinforce the theme of the day. Legends, which was founded in 2021 and launched out of stealth in 2024, is headquartered in San Francisco, CA. For more information, visit www.buildlegends.com.

Contact: press@buildlegends.com

SOURCE Legends

Innovative Precision Irrigation Management Startup Secures Additional Investment to Drive R&D and Accelerate Global Expansion

TEL AVIV, Israel, March 12, 2024 –Treetoscope, the pioneering Precision Irrigation Management startup, is thrilled to announce the extension of its latest seed fundraising round with additional investments, bringing the total to over $7 million. This strategic infusion of funds is earmarked for research and development, bolstering overall growth, and speeding up the commercial agriculture expansion across North America and beyond.

The funding round, initially led by the esteemed Champel Capital venture capital fund, renowned for its focus on impact technology investments in the European-Israeli sector, is now expanded with contributions from Stray Dog Capital (US), ECG (Thailand), and The Food Tech Lab (Spain), alongside other strategic investors including Leon Recanati, GlenRock fund, SeedIL, YYM-Ventures, Agrovision, NEOME, GN-Z11, and Earth.vc.

Dotan Eshet, CEO of Treetoscope, expressed his enthusiasm about the extended support: “The addition of Stray Dog Capital, ECG, and The Food Tech Lab to our group of esteemed investors marks a significant milestone for Treetoscope. It underscores the confidence in our revolutionary technology and our mission. This extended funding round will enable us to further accelerate our research efforts and expand our reach, empowering more farmers with the tools needed for efficient and sustainable agriculture.”

Established in 2020 in Tel Aviv, Israel, Treetoscope’s ground-breaking platform utilizes in-tree plant sensors to provide real-time sap and water uptake data, enabling growers to make more precise irrigation decisions. By integrating AI, weather data, satellite imagery, and other remote sensing technologies, Treetoscope offers a comprehensive irrigation management system that helps reduce water and input costs while ensuring optimal crop health and yield.

Moreover, Treetoscope has been recognized for its groundbreaking technology with the prestigious 2023 New Product Contest Tier 1 award by the American Irrigation Association. This accolade underscores the company’s contribution to the irrigation industry and its commitment to sustainability and efficiency in agriculture.

The unique, easy-to-install sensors by Treetoscope offer a cost-effective and high-resolution alternative to traditional soil or tree trunk sensors, providing detailed data across vineyards and orchards. This innovative approach addresses the critical challenge of water scarcity in agriculture, offering a sustainable solution to enhance food security worldwide.

“Partnering with Treetoscope aligns perfectly with The Food Tech Lab’s mission to invest in technologies that redefine the future of food and agriculture. Treetoscope’s innovative approach to precision irrigation directly mirrors our portfolio’s focus on sustainability and efficiency. We’re enthusiastic about their potential to drive significant impact in water conservation and agricultural productivity” said Juan Cividanes Roger, Managing Partner at the FoodTech Lab.

Johnny Ream, Partner at Stray Dog Capital added “We are thrilled to be part of Treetoscope’s journey as they revolutionize precision irrigation. The company’s innovative technology, combined with strategic partnerships with industry giants like Toro and Netafim, positions them uniquely to address the pressing global challenge of water scarcity in agriculture. Treetoscope’s compelling value proposition for farmers, straightforward design, and attractive scalability make them a standout opportunity in the agtech space.”

In a significant development, Treetoscope is expanding its reach by entering the Turkish market in collaboration with Netafim, a global leader in sustainable agricultural irrigation solutions. This move signifies Treetoscope’s commitment to advancing precision irrigation management in new territories, further solidifying its position as a leader in agricultural innovation.

With the addition of the new investors, Treetoscope is set to build upon its existing partnerships and expand its global footprint. The company has already seen significant commercial success through collaborations with leading agribusinesses and research institutes, including The Toro Company in North America and a rigorous validation by Netafim, leading to a global commercialization partnership.

Having secured over $10 million in total investments, including grants from the Israel Innovation Authority and the Bird Foundation, Treetoscope is on a strong growth trajectory. With successful expansions into Mexico and Spain, and a growing team in California’s Central Valley, Treetoscope is well-positioned to continue leading the way in sustainable agricultural technology.

For more information about Treetoscope’s technology, investment opportunities, or partnership inquiries, please visit www.treetoscope.com or contact Dotan Eshet at [email protected].

About Treetoscope

Treetoscope, founded in 2020, is revolutionizing agriculture with its innovative direct plant monitoring technology. Serving farmers in North America, Europe, the Middle East, and now Turkey, Treetoscope helps reduce production costs, increase yields, and optimize water usage. As the company continues to expand its technology to new territories and crops, it remains committed to enhancing sustainability and efficiency in agriculture.

About The Food Tech Lab

TheFoodTEchLab is an investment group advising a Venture Capital Fund specialized in AgrifoodTech, managed by senior executives from the food, Financial and scientific industries. Their team counts with extensive experience in the Management and mergers and acquisitions  of the Agri-food Industry. TheFoodTechLab is the “smart-money” investor every startup in the Agrifoodtech industry should look for.

About Stray Dog Capital

Stray Dog Capital is a venture capital fund investing in innovative, early-stage companies across the food, beverage, and biotechnology sectors that are driving a healthier, humane, and more sustainable future. Stray Dog Capital supports its portfolio of investments with broad experience from its team as entrepreneurs, operators, advisors, and investors. www.straydogcapital.com

About ECG

ECG Venture Capital is one of the largest financial VCs in Thailand. Despite its legacy and deep-roots in real estate private equity and credit investment in Thailand, ECG Venture Capital was among the pioneers to invest in emerging Thai and South-East Asia startups. Presently, ECG Venture Capital is sector agnostic and has directly invested in global startups as well as respected VC funds globally including Israel, USA, UK, Singapore, Indonesia, Japan, China, India, and Africa.

Contact:
Dotan Eshet [email protected]

SOURCE Treetoscope

BIRMINGHAM, Ala., March 12, 2024 — Porter Capital Group proudly announces a landmark achievement, having surpassed $10 billion in funding provided to businesses nationwide. With a broad client base spanning coast to coast, Porter Capital Group is recognized for its expertise in alternative financing solutions.  Led by seasoned professionals in the financial services sector, the team offers unparalleled support to address diverse financing needs.

Expressing his elation, Marc Porter, Founder and CEO, remarked, “I am immensely proud of our team’s dedication to providing innovative financing solutions nationwide. This achievement reflects our commitment to exceptional customer service and the trust our clients have placed in us.”

Specializing in assisting small and medium-sized businesses (SMBs), Porter Capital Group excels in unlocking cash tied up in invoices, empowering businesses to leverage these funds for growth initiatives and operational enhancements. The company offers tailored financing solutions to a wide range of industries, including staffing, manufacturing, wholesale distribution, and transportation. The attainment of the $10 billion funding milestone highlights Porter Capital Group’s flexibility and prominence in the alternative financing industry.

Scott Romanowski has served as Porter Capital Group’s Chief Financial Officer for over two decades, witnessing the company’s substantial growth over this period. He conveyed his delight with surpassing this milestone, remarking, “We are thrilled with this accomplishment, and our commitment to providing essential liquidity to businesses during challenging times and periods of expansion remains steadfast.”

Contributing to its growth, Porter Capital Group maintains an expansive nationwide partner network, that consistently refers new clients. This recognition from partners is a testament to the company’s expertise, reliability, and exceptional service to ensure comprehensive client satisfaction. Kate Smith, Chief Operating Officer, emphasized, “Our focus on corporate growth extends to our customers as we support their ambitions, offering immediate access to working capital to facilitate their journey towards success.”

Surpassing $10 billion in funding marks a significant milestone in Porter Capital Group’s history. With an unwavering commitment to client satisfaction and a diverse portfolio of customized financial solutions, Porter Capital Group is dedicated to empowering businesses nationwide.

About Porter Capital Group
Porter Capital Corporation was founded in 1991 by brothers Marc and Donald Porter in Birmingham, AL. Porter offers working capital solutions to businesses all over the country in a variety of industries. As a direct lender and factoring company, Porter Capital has provided over $10 billion in funding since its inception. Porter Capital offers Invoice Factoring and Asset Based Credit Lines up to $40 million. Since founding the company, Porter Capital has expanded to include a special transportation division known as Porter Freight Funding. The Porter businesses continue to grow by providing working capital solutions, emphasizing personalized, dedicated customer service without sacrificing speed and efficiency. To know more about Porter Capital Corporation and how it can be a working capital solution provider for businesses, call 1-888-865-7678 or visit its official website, portercap.com.

Contact:
Michelle Milhoan,
[email protected]

SOURCE Porter Capital