Conversational AI leader doubles ARR and customers in 2023, fueled by product innovation and team expansion

INDIANAPOLIS, Dec. 12, 2023 — Authenticx, the new standard in healthcare for listening to customer voices at scale, ends 2023 on a high note after building on its 2022 momentum and enhancing its conversational AI models.

Authenticx’s year of significant growth started with a $20M Series B funding round to expand the business, fuel sales and innovate the features of its robust conversational intelligence platform.

Since January, Authenticx has increased its staff headcount by 27%. The company also appointed industry veteran Eric Prugh as the organization’s first Chief Product Officer, welcomed Todd Pedersen as Chief Strategist, and created a Chief Evangelist role headed by Leslie Pagel.

In addition to increasing staff, Authenticx grew its ARR by roughly 2x and doubled its customer count, primarily consisting of large healthcare enterprises. This expansion resulted in a 400% increase in total users in 2023. Authenticx’s growth earned it recognition as No. 349 on the Inc. 5000, a list of the fastest-growing private companies in America.

“Our aim is to shape the next era of customer listening into one that both prioritizes patients and caregivers and benefits the companies that serve them,” said Amy Brown, CEO of Authenticx. “Our healthcare system is complex and confusing for those trying to navigate it. The crushing complexity disrupts the patient experience and impacts the bottom line for businesses. The growth we’ve experienced this year enables us to serve more healthcare organizations, hear more stories from real customers, pinpoint areas of frustration along the customer journey and offer leaders insights to resolve them.”

In 2023, Authenticx hosted its inaugural Voices23 Summit, convening healthcare leaders from provider, payer, and life sciences organizations to discuss making industry change through conversation-driven insights. At the event, Authenticx also released new data from the fourth edition of its Customer Voices in Healthcare Report, an in-depth review of the customer journey and where it is most impacted by conversational AI. 

Authenticx remains committed to offering high-quality, robust conversational intelligence solutions. In 2023, the company enhanced its platform by:

• Introducing Conversation Explorer: Streamlines customer voice analysis and contextual insights into agent performance and process inefficiencies.
• Augmenting APIs: Integrates rich customer insights and conversational data into other business systems for unified insights and decision-making.
• Refining Eddy Effect AI Model: Enables users to pinpoint conversational cues that trigger AI identification of customer friction points.
• Developing New AI Models: Safety Event and Acknowledgement AI model for pharmaceutical compliance and HIPAA-sensitive information verification model for contact centers.
• Prioritizing Platform Optimization: Ongoing refinements to Transcription, Summarization, and UI, including Spanish-to-English translation support.

In addition to company-wide recognition, two Authenticx employees were honored for personal excellence. Julie Gallina received TechPoint’s Tech 25 award, which acknowledges exceptional and dedicated individuals in the Indianapolis technology community. IBJ recognized Kip Zurcher as one of its CFO of the Year honorees, recognizing Indiana’s top financial executives helping their companies flourish.

“One of our basic human desires is to feel heard and understood. Our mission is to help foster that understanding throughout the healthcare journey. We will continue innovating, improving and working toward that goal in 2024 and beyond,” said Brown.

About Authenticx
Authenticx is the new standard for humanizing conversational intelligence in healthcare by analyzing millions of customer interactions (like voice, chat, or emails) to surface immersive and intelligent insights at scale. Authenticx was founded to aggregate, analyze and activate customer interaction data to surface transformational opportunities in healthcare. Using existing data that’s likely being stored and ignored in your organization, Authenticx reveals hidden barriers, motivators, and strategies so healthcare organizations can make confident, data-backed decisions. In 2023, Authenticx was ranked No. 349 on the Inc. 5000 recognized as one of America and Indiana’s fastest-growing private companies.

Media Contact:
BLASTmedia on behalf of Authenticx
Tori Klimczak
[email protected]
317.806.1900 ext. 179

SOURCE Authenticx

ROCKVILLE, Md., Dec. 12, 2023 — Origin AI™, a pioneering force in WiFi Sensing technology, today announced the successful close of its latest $15.9 million Series B extension round. With Verisure at the forefront as the lead investor, the company has secured significant capital to accelerate its growth, expand its product portfolio, and bolster its support for customer deliveries.

This funding round witnessed enthusiastic participation from notable new investors, including Verisure and Okinawa Electric Power Company, and follow-on investors, Verizon Ventures and INSPiRE, all of whom have expressed confidence in Origin’s vision and potential.

“We are immensely grateful for the trust and support from Verisure and all our investors,” stated Spencer Maid, CEO of Origin AI. “This funding empowers us to advance our mission of providing reliable, efficient, and innovative WiFi Sensing solutions to customers worldwide, while also expanding our product range and growing our customer base.”

The fresh capital will be strategically utilized to broaden the company’s product offerings and significantly grow its commercial business, thereby providing enhanced solutions to a wider customer base.

“We are extremely pleased to lead the investment in Origin AI,” said Cristina Rivas, Chief Technology Officer at Verisure. “We are impressed with the Origin AI team and their standard-setting technology. WiFi Sensing has an exciting potential to complement our security offering and support our mission to provide peace of mind to families and small businesses. As pioneers in our respective fields, we look forward to partnering with Origin AI across our geographical footprint”.

For more information about Origin AI and its ground-breaking WiFi Sensing technology, visit www.originwirelessai.com.

About Origin
Origin AI is a pioneer in transforming WiFi signals into innovative WiFi Sensing technology and category leader providing precise presence sensing solutions for Fortune 500 ISP, security, and IoT companies with applications and services in property security, smart automations and eldercare. Leveraging its patented and award-winning AI, Origin AI detects and verifies human presence, offering unparalleled accuracy and security. WiFi can do more. For more information about Origin AI and its groundbreaking technology, visit our website at www.originwirelessai.com.

About Verisure
Verisure is the leading European provider of professionally monitored security systems with 24/7 response services. We protect more than 5 million families and small businesses across 17 countries in Europe and Latin America. Our mission is to provide our customers peace of mind by protecting what matters most to them.

With over 35 years of insight, experience, and innovation, Verisure is known for category-creating marketing, sales excellence, innovative products and services, and customer-centricity.

Thanks to a strong focus on high quality, our customers are amongst the most satisfied and loyal in our industry. We have some of the strongest growth and retention rates globally in consumer-facing services, which demonstrates our exceptional service levels and strong value proposition to our customers.

For more information, please visit: www.verisure.com.

SOURCE Origin AI

OSLO, Dec. 12, 2023 — Reltime, a forefront innovator in blockchain technology, is proud to announce that it has received a significant funding approval from the Research Council of Norway. This endorsement and financial support have been received for Reltime’s ground-breaking three-year development initiative on “Using 5G Mobile Handsets as node validators in Reltime’s Layer 1 Blockchain for Microtransactions.”

In June 2023, Reltime had confirmed that it has performed an initial pilot in using 5G handsets as node validators in its layer-1 Proof of Authority Blockchain and would continue to develop this solution. So, the funding decision from the Research Council of Norway is well-timed. This ambitious project aims to integrate the massive computing and scaling power of 5G mobile handsets (as node validators in a layer 1 blockchain) and revolutionize the use of blockchain in handling microtransactions. 

Top 3 Project Highlights: 

• Innovative Integration: Utilizing the advanced speed and connectivity of 5G handset technology to enhance blockchain efficiency as Node validators, instead of using traditional servers. 

• Enhanced Microtransaction Capabilities: Focusing on the growing demand for swift and secure small-value transactions e.g., IoT, machine-to-machine transactions, rural markets. 

• Connect the existing Layer 1 Proof of Authority Blockchain with Mobile handset Node: A step forward in blockchain technology, emphasizing security, speed, and reduced environmental impact. 

CEO & Co-Founder, Marlene Julo said, “The funding from the Research Council of Norway is not just a financial boost but a significant vote of confidence in our vision. Our latest development project will help to optimize this innovation and effectively leverage 5G Node in our PoA blockchain, revolutionizing how microtransactions are conducted globally.”  

About Reltime 

Reltime is revolutionizing the financial and digital services industry with its advanced Web3 platform. Reltime has developed its own Layer-1 Proof of Authority Blockchain with zero transaction and gas fees. The platform includes a range of applications such as non-custodian wallets, SuperApp, loyalty programs, payment solutions, lending services, QR codes, CBDCs and digital fiats, and utility tokens. Additionally, the Reltime platform provides customer administration features like eKYC, identity management, SLA, and reporting. By incorporating a decentralized identity, Reltime is driving the next generation of digitization in supply chain management, tokenization, asset ownership, and global trade.  

For more information on Reltime, visit, https://www.reltime.com/   

Press Contact Reltime: Bishwajit Choudhary, [email protected]    

The following files are available for download:

SOURCE Reltime AS

TULSA, Okla., Dec. 11, 2023 — The University of Tulsa and Hurricane Ventures have announced two new start-up investments, BPEndo and Titan Intake.

“We are excited by the continued momentum of Hurricane Ventures,” said Chris Wright, director of UTulsa’s Center for Innovation & Entrepreneurship. Created in partnership with 46 Venture Capital, Hurricane Ventures is a funding catalyst for student, alumni, faculty and staff startups.

Leveraging university resources, Hurricane Ventures is seeding early-stage companies to drive real impact across the economy and further the mission of UTulsa’s Collins College of Business. Launched in early 2023, Hurricane Ventures has raised $2 million – well on its way to a $10 million goal – to commercialize intellectual property, create new ventures and attain venture capital funding. The university aims to provide seed capital for 100 companies started by UTulsa affiliates.

In September, Hurricane Ventures announced its first start-up investments, SkinCheck and Airwise Solutions. The investments in BPEndo and Titan Intake were announced at a recent Friends of Finance meeting organized by Collins College of Business.

Dr. Jeffery Blonsky, who received his UTulsa degree in biological science in 1999, is a key partner in BPEndo. The company’s Insufflation Retention Device (IRD) is approved by the U.S. Food and Drug Administration for use in colonoscopy procedures. The BPEndo IRD was designed to improve the colonoscopy experience for patients, physicians and payors. The company has made substantial progress toward securing a global patent portfolio and recently received FDA clearance for the IRD.

“Having partners such as Hurricane Ventures is invaluable,” said Dr. Robert Holbrook, founder and CEO. “The funding provided is instrumental in overcoming the obstacles founders face when bringing a new device to market. I am grateful for all their support.”

Titan Intake, founded by Patrick Bruce, Rachel Brown and Jhonathan Vazquez, is revolutionizing health care with its patient referral software driven by artificial intelligence. The unique platform automates incoming referral data directly into electronic medical records, ensuring clinics immediately capture, process and communicate patient referrals.

“Hurricane Ventures’ new fund is a game-changer for Tulsa’s startup scene, particularly addressing a vital gap in early-stage financing. This funding will empower us to expand our reach to clinics across the nation, accelerate our growth and boost Tulsa’s economy,” said Bruce, who received his UTulsa degree in philosophy in 2013.

SOURCE The University of Tulsa

IRVINE, Calif., Dec. 11, 2023 — University Lab Partners (ULP) announces Lionheart Health as the winner of the inaugural Golden Passport Pitch Competition, sponsored by Allergan Aesthetics, an AbbVie Company.

Lionheart Health will be awarded a 1-year sponsored lab bench at University Lab Partners, the premier wet lab incubator in Irvine, CA. In addition, Lionheart Health’s team will have the opportunity to engage with industry mentors including scientific and business leaders from Allergan Aesthetics and ULP.

“Through our support of Lionheart Health, Allergan Aesthetics is continuing to drive innovation in aesthetics medicine forward and accelerating the growth and development of entrepreneurs and researchers in the field,” said Darin Messina, Ph.D., Senior Vice President, Allergan Aesthetics R&D, AbbVie. “We are committed to continued investment in early science and regenerative technologies and defining the future blueprint for the aesthetics industry.”

Howard Leonhardt, Founder and CEO of Lionheart Health shared, “We are grateful for the Golden Passport opportunity offered through Allergan Aesthetics and University Lab Partners. This support is essential to scaling Lionheart Health’s aesthetics applications, improving health span, and overall quality of life.”

The 2023 winner was chosen among many worthy applicants by an expert panel of judges including Charlie Hee, Ph.D., Vice President, Device R&D Fillers and Device Sciences, Allergan Aesthetics, Dr. Sherly Soleiman, Founder of Cosmetic Injectables Center, Dr. Arisa E. Ortiz, Director of Laser and Cosmetic Dermatology and Associate Clinical Professor of Dermatology at UC San Diego, Dr. Hisham Seify from Newport Plastic and Reconstructive Surgery Associates and Prestige Surgery Center, and Michael Hill, Managing Director at Octane Capital Markets.

Life science startups at ULP benefit from professional mentoring and consulting with Experts-in-Residence, networking events, and unique access to technical core facilities. Since 2019, ULP has incubated a total 64 companies with over $535M raised and successfully graduated 8 startups.

For more information about The Golden Passport, visit https://www.universitylabpartners.org/our-events/golden-passport-demo-day

About University Lab Partners
University Lab Partners (ULP) is a premier, nonprofit, wet lab incubator located in Orange County, CA. ULP operates 2 facilities in Irvine and Aliso Viejo, CA. ULP offers highly equipped wet lab facilities along with the benefits of peer-to-peer interactions among a life science-focused entrepreneurial community. For more information, visit www.universitylabpartners.org

About Allergan Aesthetics
At Allergan Aesthetics, an AbbVie company, we develop, manufacture, and market a portfolio of leading aesthetics brands and products. Our aesthetics portfolio includes facial injectables, body contouring, plastics, skin care, and more. Our goal is to consistently provide our customers with innovation, education, exceptional service, and a commitment to excellence, all with a personal touch. For more information, visit www.allerganaesthetics.com

SOURCE University Lab Partners

LOS ANGELES, Dec. 11, 2023 — LAMF Global Ventures Corp. I (Nasdaq: LGVCU, LGVC, LGVCW) (“LAMF” or the “Company”), announced today that on December 11, 2023, its board of directors (the “Board”) decided to extend the date by which the Company must consummate an initial business combination (the “Deadline Date”) from December 16, 2023 to January 16, 2024. This is the second of up to six one-month extensions of the Deadline Date available to the Company pursuant to its amended and restated memorandum and articles of association.

About LAMF Global Ventures Corp. I

LAMF Global Ventures Corp. I is a special purpose acquisition company whose business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. LAMF is sponsored by affiliated parties of LAMF LLC (d/b/a Los Angeles Media Fund), a multifaceted media and entertainment company whose primary business is financing and producing feature films, television series, documentary projects and live events, the management of professional athletes, and investing in complementary technology businesses to the foregoing. LAMF is led by Jeffrey Soros, its Chairman, and Simon Horsman, its Chief Executive Officer, the co-founders of LAMF LLC. The members of LAMF’s sponsor also include affiliates of 10X LLC (“10X Capital”), an investment firm connecting Wall Street with Silicon Valley. 10X Capital invests across the capital structure, with a focus on companies using technology to disrupt major industries, including finance, healthcare, natural resources, transportation, infrastructure, agriculture and real estate. LAMF’s securities are traded on Nasdaq under the ticker symbols LGVC, LGVCU and LGVCW.

SOURCE LAMF Global Ventures Corp. I

HOUSTON, Dec. 11, 2023 — Digital Wildcatters, a pioneering community platform for the next generation of energy professionals, announced today that it has successfully closed its seed plus funding round, raising $2.5 million. This milestone underscores the company’s commitment to transforming the energy industry through innovative technology, community engagement, and pizza parties.

The round was led by industry veteran Chuck Yates and witnessed participation from notable entities such as Diamondback Energy and ProFrac, along with other angel investors deeply rooted in the energy sector. This funding follows a previously successful $2 million seed round raised from angel investors in 2021.

“Our industry’s survival depends on recruiting the next generation of energy workers. We must adapt to their digital, content-rich world, as we currently lag behind, like a VHS tape in a Netflix world. Digital Wildcatters is our path to modernization,” said Chuck Yates.

Digital Wildcatters will channel these funds into further developing and commercializing ‘Collide,’ their professional networking app designed to revolutionize the energy industry. Collide encompasses three core features: a professional network for energy professionals to share information and build connections, ‘Collide Jobs’ for companies to discover qualified talent, and ‘Collide Pro,’ an AI-driven content search engine that provides streamlined access to industry information.

“Our mission is to empower the next generation of energy professionals to advance their careers and collaboratively address the global energy crisis,” said Collin McLelland, Co-founder and CEO of Digital Wildcatters. “We are incredibly grateful to have an investor base that not only believes in our vision but also supports our endeavor to craft innovative products that will redefine the future of the energy industry.”

The funding round officially closed on December 1, 2023, marking a significant step forward for Digital Wildcatters in its journey to be a catalyst for change in the energy sector. The company’s array of transformative in-person events, podcasts, and technology offerings positions it as a leader in facilitating professional growth and industry advancement.

For more information about Digital Wildcatters, please contact Misty Gerberman at [email protected].

About Digital Wildcatters:

Headquartered in Houston, Texas, Digital Wildcatters is a community for the next generation of energy professionals. It focuses on enabling professionals to stay on top of the latest trends, expand their networks, and advance their careers in the energy industry.

SOURCE Digital Wildcatters

COPENHAGEN, Denmark, Dec. 11, 2023 — Hoba Therapeutics, a Novo Holdings-founded Danish biotech company dedicated to developing novel therapeutic proteins for patients living with chronic neuropathic pain and hearing loss, today announced that it has raised EUR 23 million (USD 25 million) in a Series A financing first close. The financing was co-led by Indaco Venture Partners and Medical Incubator Japan, and includes investments from current investors Novo Holdings, Eir Ventures, and the Export and Investment Fund of Denmark (EIFO). In the syndicate is also The European Innovation Council Fund with an investment as part of the Accelerator funding program under Horizon Europe.

Hoba Therapeutics is developing HB-086 for the treatment of chronic neuropathic pain conditions.

Neuropathic pain represents a significant unmet medical need, affecting more than 400 million patients worldwide. HB-086 is a non-opioid compound with a unique mode of action, targeting the underlying cause in the peripheral nervous system to reverse neuropathic pain. A comprehensive preclinical data package demonstrated a fast onset and long-acting analgesic effect, and also the ability to prevent the development of neuropathic pain. The proceeds of the Series A first close will enable Hoba Therapeutics to advance HB-086 through late pre-clinical development to the completion of Phase 1 clinical studies in patients for painful Chemotherapy-Induced Peripheral Neuropathy (CIPN). The indication is selected as a gateway indication into chronic neuropathic pain disorders and is a painful, often debilitating condition caused by cancer treatment with certain chemotherapy drugs.

“We are thrilled to close the first round of the Series A,” said Torsten M. Madsen, CEO of Hoba Therapeutics. “This is an experienced investor syndicate backing Hoba Therapeutics. In addition to the participation of our current investors, we have strengthened the syndicate with the participation of funds from Europe and Japan, along with strong support from The European Innovation Council Fund. This shows the shared perspective on the large unmet need we aim to fill and reflects our focus and commitment to help patients worldwide and we believe that these funds can contribute significantly to achieving our objectives.”

“Indaco is proud to have led this Series A round, together with Medical Incubator Japan, and we are excited to join Hoba Therapeutics as an investor,” added Goncalo Rebelo de Andrade, Partner at Indaco BIO Fund. “At Indaco, we give priority to companies that, like Hoba Therapeutics, are aimed at tackling the underlying causes of disease and are led by high-profile committed teams. In advancing pioneering pharmaceutical solutions, the leadership team at Hoba Therapeutics exhibits extraordinary expertise and commitment. While focusing firmly on both scientific excellence and patient benefit, they are well-positioned to make a substantial impact in healthcare.”

Camilla Petrycer Hansen, Principal, Seed Investments, Novo Holdings, said: “As a founding investor, we are excited about the prospects of Hoba Therapeutics. A staggering number of people globally endure the debilitating consequences of chronic pain every day, a vast issue largely neglected by the market due to a dearth of innovation in this field for many years. This unmet need is not only a burden for patients but also imposes significant costs on healthcare systems. Together with Eir Ventures and EIFO, we are delighted to welcome new investors into our syndicate, firmly believing in their substantial contribution to the continued progress of Hoba Therapeutics.”

Dr. Kenji Harada, Investment Officer at Medical Incubator Japan, expressed his excitement about the investment in Hoba, a Danish innovation: “It’s a great honour for us to take a co-lead position in this round. I firmly believe that Hoba Therapeutics’ programs will yield significant positive impacts on pain management and related therapies. This investment in an outstanding Danish company not only signifies our support, but also paves the way for future investments from Japan into Danish and other European biotech companies.”

Svetoslava Georgieva, Chair of the EIC Fund Board, said: “The EIC Fund has established itself as a strong force in EU deep-tech investments. This unique form of financing via EIC – combining grants and equity – is proving itself highly attractive to Europe’s most promising start-ups. Our investment will provide Hoba Therapeutics with means to help patients suffering from chronic neuropathic pain worldwide.”

About chronic neuropathic pain
Chronic neuropathic pain is a significant global health issue, affecting a substantial portion of the population worldwide. In Europe, the prevalence is estimated to be 6–8%^[1] of the general population. Chronic neuropathic pain represents an enormous personal and economic burden. Neuropathic pain is a chronic disorder resulting from damage or dysfunction of the nervous system. Causative factors are lesions in or disorders of the nervous system, such as injury, pressure, toxic agents (e.g., chemotherapy), viral infections, and metabolic disorders. These lesions lead to aberrant functioning of sensory nerve cells, resulting in a chronic, debilitating sensation of pain.

Chronic neuropathic pain is primarily managed with antidepressants (including TCAs, SSRIs, and SNRIs), antiepileptic drugs like pregabalin and gabapentin, and opioids. These medications modify pain perception and stabilise nerve cells, but their effectiveness varies widely among individuals, and they often fail to provide complete pain relief. Side effects, such as dizziness, tiredness, and addiction risks are major concerns. A major limitation is that these drugs generally don’t target the specific causes of neuropathic pain, and their efficacy is reduced when the underlying conditions, like nerve damage, cannot be treated effectively^[2],[3].

The complexity and variability of chronic neuropathic pain necessitates a multifaceted treatment approach and highlights the need for ongoing research and development of more effective and safer treatment options. The global neuropathic pain market is estimated to be valued at USD 7.6 billion in 2023 and is expected to exhibit a CAGR of 6.2% during the next seven years^[4].

About Hoba Therapeutics
Hoba Therapeutics is a Danish biotech developing restorative treatments for chronic pain disorders and hearing loss. Both indications have a clear unmet medical need for safe and efficacious treatments for millions of patients worldwide. Hoba Therapeutics is developing HB-086 for the treatment of chronic neuropathic pain. HB-086 is a non-opioid compound with a unique mechanism of action targeting the peripheral nervous system to reverse neuropathic pain and the underlying cause of the disease. The second drug candidate HB-097 is a pharmacological treatment for sensorineural hearing loss. Preclinical data of HB-097 show both a preventive effect of hearing loss by protecting nerve cells and a regenerative effect by reversal of already induced damage.

Hoba Therapeutics was founded in 2016 by Novo Holdings and Borean Innovation. Hoba Therapeutics received the Accelerator grant from the European Innovation Council in 2021 and the Grand Solution grant from Innovation Fund Denmark in 2018.

About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novozymes A/S and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure, and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seeds, Venture, Growth, and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.

As of November 2023, Novo Holdings had total assets of EUR 150 billion. 

www.novoholdings.dk

About The Export and Investment Fund of Denmark
The Export and Investment Fund of Denmark (EIFO) is the national promotional bank and export credit agency of Denmark combined in one financial institution. EIFO provides a single point of access for Danish companies as well as for their foreign and domestic business partners who need risk-tolerant government capital. EIFO wants to support the successful businesses which can grow the Danish economy and green the globe. We make the world Denmark’s business.

www.eifo.dk

About Eir Ventures
Eir Ventures I AB is a Nordic life science venture capital fund that invests in private companies with outstanding entrepreneurs developing transformative therapeutic approaches. The fund commenced its investment activities in 2020 and invests in opportunities addressing significant unmet medical needs for new therapies, medical technology, and digital health. Eir Ventures AB is led by a team of experienced life science investors and is supported by a strong investor syndicate consisting of leading local and international institutional investors and, uniquely, leading Nordic universities.  www.eirventures.eu

About Indaco Venture Partners
Indaco Venture Partners SGR is one of the largest independent Italian venture capital asset management companies, with over EUR 350 M in assets under management, focused on companies that innovate in electronics, robotics, new materials, medtech, biotech – pharma and digital. Indaco Bio Fund (around EUR 100 M) is exclusively dedicated to investing in the development of innovative pharmacological therapies, across all therapeutic indications but with particular attention to Oncology, CNS, Ophthalmology, Metabolic diseases, Virology, and Infectious diseases. Indaco is focused on the Italian Biotech sector with select investments in other European countries, USA, Canada, and Israel.

www.indacosgr.com

About Medical Incubator Japan
Medical Incubator Japan is a venture capital firm based in Japan specialising in investments within the biotech sector across the EU, Japan, and the US. Their investment portfolio encompasses pharmaceuticals, medical devices, diagnostics, and cutting-edge life science technologies driven by AI. Although their history is relatively concise, they currently manage approximately USD 50 M in assets. Medical Incubator Japan is on the brink of commencing investments from their newly established fund shortly.

www.medicalincubatorjapan.com/en/

About The European Innovation Council Fund
The European Innovation Council Fund from the European Commission is an agnostic Fund: it invests across all technologies and verticals, and all EU countries and countries associated to Horizon Europe. It provides the investment component of the EIC Accelerator blended finance. The European Investment Bank acts as investment adviser to the EIC Fund.

The EIC Fund aims to fill a critical financing gap and its main purpose is to support companies in the development and commercialisation of disruptive technologies, bridging with and crowding in market players, and further sharing risk by building a large network of capital providers and strategic partners suitable for co-investments and follow-on funding.

The Fund pays particular attention to the empowerment and support of female founders as well as the ambition to reduce the innovation divide among EU countries.

Hoba Therapeutics ApS
Ole Maaløes vej 3
Copenhagen
DK-2200

www.hobatherapeutics.com

[1] Neuropathic Pain: The Scope of the Problem – PMC (nih.gov)

[2] Neuropathic pain in adults: pharmacological management in non-specialist settings – NCBI Bookshelf (nih.gov)

[3] Pharmacotherapy for Neuropathic Pain: A Review – PMC (nih.gov)

[4] “Neuropathic Pain Market Analysis” by Coherent Market Insights

SOURCE Hoba Therapeutics

OXNARD, Calif., Dec. 8, 2023 — Bureo, a groundbreaking California-based B Corp that is on a mission to end fishing net pollution by providing fishermen with an end-of-life solution for discarded fishing nets, today announced it has closed a Series B investment in its latest funding round. The round was led by Toyota Tsusho Corporation and supported by Mirova, Ocean 14 Capital, Conservation International Ventures and Susquehanna Foundation. Tin Shed Ventures – Patagonia’s venture capital fund – was the initial seed investor in Bureo.

Since its founding in 2013, Bureo remains the only supplier for 100% recycled, wild caught and discarded fishing nets that are 100% traceable to the source. Bureo works directly with the fishing communities to provide the resources needed to responsibly dispose of their fishing nets when they are no longer of use. And through recent advancements in Bureo’s recycling process, the company is now able to convert the nets into a fully traceable, premium 100% recycled Nylon 6 material, called NetPlus, that rivals virgin Nylon 6 in durability and quality yet offers a proven reduction in environmental impact and lessens our reliance on virgin plastic.

“We feel a responsibility to bring our solution to more coastal communities around the world – and we are thankful for the increased recognition and resources to expand our work,” says Bureo co-founder David Stover. 

These recent investments will fund the growth of Bureo’s net collection and recycling operation to a growing list of global coastal communities. As of today, Bureo is on track to collect more than 3.3 million pounds of end-of-life fishing nets within 2023 for recycling through actively operating in seven countries across the Americas (United States, Mexico, Panama, Ecuador, Peru, Chile, Argentina). Increased funding will also go towards an advanced traceability system that will deliver fishing net source information through QR codes that can be tracked throughout the supply chain of NetPlus material. 

This funding round comes at a pivotal time for Bureo. As the company celebrates its 10th anniversary, it is also on track to represent 1% of the recycled Nylon fabric market globally, having collected more than 10 million pounds of discarded fishing nets for recycling to date. Companies currently using NetPlus recycled nylon in their products include Patagonia, Costa, Yeti, Rivian, Outerknown, Trek, Quicksilver, Orvis and more.

https://bureo.co/

Inquiries: [email protected]

SOURCE Bureo