Investment will drive further expansion within the $155 billion US dental services market

NEW YORK, Nov. 6, 2023 — Private equity firm Cathay Capital announced today that it has invested in dental service organization (DSO) Parkview Dental Partners. This investment is the inaugural North American investment from Cathay’s Growth Private Equity Fund (Small Cap IV), which announced a final close in June 2023. Cathay’s investment, in partnership with Parkview’s management team, will accelerate the Company’s expansion in Florida’s $9 billion dental services market.

Founded in 2018 in Sarasota, Florida, Parkview is a DSO that currently manages 22 dental practices that provide both general dentistry and specialty dental services. Parkview operates in the dynamic Southwest Florida market, characterized by population growth at 3x the national average, an aging population with higher dental care needs, and robust GDP growth. The Southwest Florida dental market remains highly fragmented, with a large number of unaffiliated dentists in the region. The growth in patients, dental procedures, dentists, and support staff in the Company’s footprint is expected to be above the national average. Since its founding, Parkview has expanded from eight practices to 22 practices today, having grown revenue at a 50% CAGR since 2019 through organic initiatives and by successfully completing accretive acquisitions. Through the new partnership with Cathay, the Company will look to scale by acquiring new practices and adding ancillary dental services while remaining focused on clinical excellence and high-quality patient and provider experiences.

Mark Woods, Partner and Head of North American Private Equity at Cathay Capital, said, “We are excited to partner with Parkview Dental Partners as it is uniquely positioned in the DSO market. The company has a talented management team, attractive geography, and a well-developed operational playbook. We look forward to partnering with the team as they take advantage of favorable tailwinds to scale and expand.”

Ricky Roman, Director at Cathay Capital, added, “The Cathay team looks forward to leveraging our healthcare services and buy-and-build experience to accelerate the growth of Parkview as the Company seeks to expand on its market-leading position in Southwest Florida.”

Parkview CEO Will Schlotthauer said, “Our partnership with Cathay begins an exciting chapter for Parkview, as we look to become the pre-eminent Florida DSO supporting like-minded dentists who want to focus on providing clinically excellent care and a great patient experience. We are excited to benefit from Cathay’s track record of scaling businesses while also having a growth mindset and a partnership-like approach with management teams and stakeholders.  This new partnership is uniquely positioned to accelerate Parkview’s growth to become the market leader in the Southeast.  Cathay’s experience with a “buy and build” strategy along with its adherence to driving culture aligns perfectly with Parkview’s goals.”

The transaction featured material rollover investment from Parkview’s existing management team, including Will Schlotthauer, CEO, and Dr. Kenneth Liszewski, Founder and Chief Development Officer, as well as prior owner Parkstone Growth Partners. Live Oak Banking Company and Barings provided a unitranche credit facility in the recapitalization. Barings also provided an equity co-investment alongside Cathay Capital. Provident Healthcare Partners, LLC acted as the exclusive financial advisor to the Sellers.

About Parkview

Parkview is a dentist-founded dental growth & management partnership that is decidedly different from corporate DSOs. Based in Sarasota, Florida, our mission is to support like-minded dentists who want to focus on providing clinically excellent care and a great patient experience, while we provide the highest level of operational support and opportunities for professional growth.  For more information visit: www.parkviewdp.com 

About Cathay Capital

Cathay Capital is a global private equity and venture capital investment firm supporting healthcare, technology and consumer companies throughout North America, Europe, and Asia. The firm helps middle-market companies and startups navigate opportunities for growth, international expansion, and sustainable transformation. Cathay is the partner of choice for companies aspiring to lead markets and make a positive impact. Its platform connects people with global reach and local expertise – from investors and entrepreneurs to management teams and leading corporations – to share knowledge, the tools to scale and to transform businesses.

Founded in 2007 with a strong entrepreneurial heritage, Cathay Capital now manages more than $5.5 billion in assets. It has made over 250 investments in verticals including healthcare, technology, and consumer from offices in Paris, New York, San Francisco, Munich, Berlin, Madrid, Shanghai, Beijing, Shenzhen, and Singapore.  For more information, visit: www.cathaycapital.com.

Cathay Capital Contacts:

Mark Woods, Partner, [email protected], +1 203 273-1865

Ricky Roman, Director, [email protected], +1 203 508 0125

Parkview Contact:

Will Schlotthauer, Chief Executive Officer, [email protected], +1 941 524-5083

SOURCE Cathay Capital

LUND, Sweden, Nov. 6, 2023 — TFS HealthScience, a global contract research organization (CRO), announces its strategic investment in Medidata Detect, a comprehensive data surveillance and risk monitoring solution that improves data quality and promotes patient safety in clinical trials. TFS stands as the first CRO to adopt Medidata Detect technology for its clients.

Medidata Detect will help data managers and clinical operations teams to improve patient safety, data quality oversight, and risk management. By analyzing and harmonizing data from many sources in a single location and identifying patterns and discrepancies, this solution offers a complete view of clinical trials and drives efficient workflows – allowing TFS to better focus on patients and clients.

“In spearheading our adoption of Medidata Detect, we’re not only reinforcing our commitment to data quality and patient safety, but we’re also embracing a pivotal enhancement to our existing technology stack,” said Michael Mendoza, TFS Executive Director of eClinical Technology and Biometrics. “Our partnership with Medidata now extends beyond the realms of Rave® EDC, CTMS, and eTMF, illustrating a significant step in our long-term strategy to advance clinical trial efficiency through innovation.”

“We are thrilled to be the first CRO implementing Medidata’s Detect platform, which addresses many data inefficiencies the industry experiences today,” said TFS Chief Executive Officer, Dr. Bassem Saleh. “Using a centralized data management system will enhance data quality, risk management, and decision-making, fast-tracking clinical trials for clients and the availability of drugs for patients.”

Detect identifies and addresses both known and unexpected risks in trials, prompting corrective actions that prevent study delays and submission failures. As a cornerstone of the risk-based quality management approach to clinical development, this innovative solution streamlines data management by eliminating breakpoints and will expand TFS HealthScience’s data access across platforms.

“At Medidata, we’re collaborating with our 2,300+ global customers to accelerate clinical trials by developing new, scalable data experiences that improve quality, maximize efficiency, and better support patients,” said Tom Doyle, Chief Technology Officer, Medidata. “Medidata Detect will give TFS HealthScience a competitive advantage with AI-driven insights and task automation that reduce the time to high-quality data and bring operational teams closer, eliminating redundancies and aligning processes across the organization.”

This partnership solidifies TFS as a leading and innovative clinical research organization focused on accelerating safety review cycles and helping biotechnology and pharmaceutical companies bring life-changing products, therapies, and medications to market as quickly as possible. “This integration showcases our dedication to leveraging cutting-edge technology for clinical excellence. It’s a testament to the proactive strides TFS is taking to grow technologically and further solidify our full partnership with Medidata,” highlighted Mendoza.

CONTACT:

Media Contact

Emma Primon
[email protected] 
(919) 621.1048

NORWALK, Connecticut, 3 listopada 2023 r. — Spółka LifeSpan Vision Ventures, specjalizująca się w biotechnologii długowieczności, poinformowała dziś o inwestycji w NaNotics LLC. Jest to firma biofarmaceutyczna zajmująca się badaniami przedklinicznymi, która opracowuje NaNots™, nowatorskie nanocząsteczki subtraktywne umożliwiające leczenie chorób poprzez wychwytywanie i usuwanie patogennych cząsteczek z krwi. NaNots™ odróżnia od tradycyjnych terapii lekowych ich zdolność do usuwania rozpuszczalnych substancji docelowych bez interakcji z membranowymi formami tych substancji, co zwykle jest poza zasięgiem konwencjonalnych leków.

Firma rozwija linię produktów NaNots ukierunkowaną na markery onkologiczne i zapalne związane z różnorodnymi chorobami stanowiącymi istotne i wciąż niezaspokojone potrzeby medyczne. Ponadto firma zapowiedziała współpracę badawczą z kliniką Mass General Cancer Clinic działającą w Mass General Hospital, oraz Mayo Clinic w celu dalszego udoskonalania swoich terapii dla określonych celów onkologicznych.

Harry Robb, analityk z firmy LifeSpan Vision Ventures, zauważył: „Dzięki naszej pierwszej inwestycji w dziedzinie nanomedycyny nawiązujemy współpracę z NaNotics, kalifornijską spółką biofarmaceutyczną, której wizją jest usuwanie rozpuszczalnych substancji docelowych z krwi w celu leczenia szeregu chorób – a potencjalnie również starzenia się. Firma jest wspierana przez oddany i niezwykle doświadczony zespół, który dąży do zmiany w medycynie z podejścia opartego na komórkach na bazujące na analizie sygnałów pomiarowych. Stanowi to wyjątkową okazję do rozszerzenia możliwości leczenia. Tym samym obserwujemy ogromny potencjał w ich transformacyjnych terapiach, które mogą mieć znaczący wpływ na wyniki pacjentów”.

Lou Hawthorne, dyrektor generalny NaNotics i pomysłodawca NaNots, dodał: „Lifespan Vision Ventures to idealny inwestor dla nas, nie tylko ze względów kapitałowych. Rozumieją oni, że starzenie się jest potencjalnie powodowane przez substancje rozpuszczalne, które również napędzają lub sprzyjają chorobom rozpoznanym przez FDA, a zatem NaNots może przeciwdziałać obu tym zjawiskom. Umożliwia to realną ścieżkę zatwierdzenia przez FDA platformy terapeutycznej do walki ze starzeniem się – której agencja ta nie uznaje za chorobę. Z niecierpliwością czekamy na współpracę z Lifespan Vision Ventures w celu opracowania i wprowadzenia na rynek środków terapeutycznych wspomagających leczenie chorób i przedłużających zdrowie wszystkich ludzi”.

NaNotics LLC
NaNotics LLC jest spółką na etapie przedklinicznym z siedzibą w Mill Valley, w stanie Kalifornia. Firma opracowuje szereg leków NaNotics™ przeciwko licznym schorzeniom onkologicznym i zapalnym, które są źródłem wielu znaczących niezaspokojonych potrzeb medycznych.

Więcej informacji można znaleźć na stronie https://www.nanotics.com/
Kontakt: Song Schreiber, dyrektor ds. finansowych: [email protected]

LifeSpan Vision Ventures
LifeSpan Vision Ventures jest innowacyjną spółką venture capital, która specjalizuje się w inwestycjach w dziedzinie badań nad starzeniem się i długowiecznością. Misją spółki jest wspieranie i przyspieszanie rozwoju innowacyjnych terapii, które wydłużają życie, poprawiają jakość życia osób starzejących się oraz mierzą się z wyzwaniami związanymi z wiekiem. Dzięki strategicznym partnerstwom i inwestycjom spółka chce kształtować przyszłość, w której starzenie się oznacza witalność, odporność i nieskończone możliwości.

Więcej informacji na temat LifeSpan Vision Ventures można znaleźć na stronie https://www.lifespanvisionventures.com/

KONTAKT: Harry Robb
tel. +44 7795042764
e-mail: [email protected]

Photo – https://mma.prnewswire.com/media/2259807/LifeSpan_Vision_Ventures_Invests_in_NaNotics.jpg

TRAFiX, a fast-growing capital markets software platform, plans to use the investment to accelerate product development for its global customer base

NEW YORK, Nov. 2, 2023 — TRAFiX LLC (“TRAFiX” or the “Company”), a leading provider of order and execution management software (“OEMS”) and FIX connectivity solutions for the global capital markets, today announced that it has secured a strategic growth investment from Marlin Equity Partners (“Marlin”). The transaction will enable the Company to advance its market position through rapid product development, support its expansion goals, and make continued investments in its people and talent.

TRAFiX’s purpose-built OEMS solution supports customers’ mission critical trading workflows, offering seamless access to capital markets through a purpose-built, multi-asset, multi-geography trading system. TRAFiX’s versatile suite of solutions caters to capital markets participants worldwide, supporting their electronic trading workflows for equities, and complex options, among other asset classes. The growth investment from Marlin follows TRAFiX’s successful acquisition of Integrated Transaction Systems Ltd. (“ITS”), a Canadian provider of capital markets connectivity and smart order routing solutions, which enabled TRAFiX to expand its presence in the Canadian markets.

Marlin’s investment represents the first institutional capital raised by TRAFiX since its inception in 2013. The investment will support the existing executive team and company in furthering its leadership position within the capital markets software ecosystem.

“This transaction represents an incredible growth opportunity for TRAFiX and positions our company to further advance our position within our core markets. Marlin brings robust software and financial technology industry experience, operational expertise and financial resources. We look forward to continuing to innovate and expanding our footprint with their support,” said Walter Fitzgerald, Co-Founder and CEO of TRAFiX. “Marlin shares our strategic vision of continuously improving capital markets trading performance and productivity. We are excited to take the next step in our evolution with Marlin as our partner given their strong history of building and scaling enterprise software companies globally.”

“We seek to partner with innovative founders and knowledgeable management teams to accelerate growth, and we see a great opportunity to collaborate with TRAFiX’s impressive team,” said Alex Beregovsky, a managing director at Marlin. “We believe TRAFiX is uniquely positioned within the highly strategic capital markets landscape and is particularly differentiated with a robust, scalable, and modular trading suite. We are excited to provide operational and financial support to enhance TRAFiX’s product roadmap and extend its global reach as the company continues to grow and invest deeply in its customer relationships,” added Hemal Patel, a principal at Marlin. 

Financial details of the transaction have not been disclosed. Marks Baughan served as financial advisor and DLA Piper served as legal advisor to TRAFiX. RBC Capital Markets served as financial advisor and Goodwin Proctor served as legal advisor to Marlin.

About TRAFiX
Headquartered in New York, NY, TRAFiX is a broker-neutral provider of global trading software and connectivity solutions to the financial services industry. TRAFiX is a broker neutral FinTech company providing innovative global Order & Execution Management solutions, real-time FIX connectivity and normalized API interfaces to address the functional and regulatory requirements of the Financial Services Industry.  Our scalable offering has been specifically designed to utilize the latest enhancements in software development and enterprise architecture to resolve the growing challenges faced by today’s trading community. Currently supporting electronic global equity, option and complex option trading, our open architecture allows for the ongoing addition of asset classes.  The TRAFiX team has decades of experience and is singularly focused on designing superior applications that integrate within our customer’s technology ecosystem and lowers the total cost of ownership. For more information, please visit trafix.com.

About Marlin Equity Partners
Marlin Equity Partners is a global investment firm with approximately $9 billion in capital commitments. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 200 acquisitions. The firm is headquartered in Los Angeles, California, with an additional office in London. For more information, please visit www.marlinequity.com.

SOURCE TRAFiX

CHARLOTTESVILLE, Va., Nov. 2, 2023 — Factor Capital Management, an investment firm founded by former GSR Markets and Two Sigma Investments Executive Jake Dwyer, announced today the launch and first close of its Factor Venture Capital Fund I with approximately $10M in commitments. The fund aims to invest up to $30m in seed-stage startups that leverage blockchain technology to solve real-world problems.

Venture Fund I is backed by a group of investors, including GSR Markets, Theta Capital Management, executives from Two Sigma Investments, and the founders of Multicoin Capital, Lattice Capital, and Cosmos Network, amongst others. The fund plans to write checks ranging from $500k to $1m to exceptional entrepreneurs at the earliest stages of company development.

Blockchain technology has promised to change the way we conduct business by introducing trustless efficiencies in archaic analog systems. While the early applications of blockchain technology were often associated with cryptocurrencies and speculation, the technology has come a long way since its inception. Existing Factor portfolio companies like Koywe, Jasmine Energy, Neutral, and Parcl are already driving significant efficiencies for businesses and consumers using blockchain technology to solve real problems today.

The team at Factor Capital has been observing the evolution of blockchain technology since its launch and believes that now is a unique time to invest in this innovation’s early stages as this mainstream impact accelerates. With advances in AI and decentralized blockchains, it is easier than ever for small teams to bring high-impact visions to life from anywhere in the world.

“We are excited to partner with founders and investors who align with our vision of investing in businesses that have a real-world impact,” said Factor’s founder, Jake Dwyer. “Our thesis is basic: blockchain is on the cusp of mainstream adoption, and we want to support the companies that will drive this adoption forward.”

For more information, please visit https://www.factorcapital.com/.

About Factor Capital Management:

Founded in 2023, Factor Capital believes in leveraging cutting-edge technologies, native digital assets, and full-stack problem-solving methodology to accelerate innovation. The firm was founded by Jake Dwyer, a startup and finance executive with over 20 years of operating experience leading early-stage businesses and driving innovation within world-class investment managers like Two Sigma Investments. We seek to consistently invest in and leverage emerging technologies, using data and software to create efficiencies as an investment manager and deliver superior returns. The team brings an operator’s mindset to investing and is an active partner to entrepreneurs, working alongside them to build sustainable and valuable businesses.

Media Contact: [email protected]

SOURCE Factor Capital Management

Organic, airbrush tanning concept announces national franchise development plan

BOSTON, Nov. 2, 2023 — Pure Glow, the healthy, fun, and safe alternative to conventional spray tans, has announced it has raised $1.4 million in seed funding and plans to expand its national footprint through franchising. The brand is looking for passionate entrepreneurs who want to bring an organic, non-toxic and elevated sunless tanning experience to their local communities.

With two locations open in Massachusetts, the Boston-based brand has invested in evolving the look and feel of its brand, recruiting experienced franchise executives, and is ready to expand throughout the tri-state area, as well as Washington D.C., Philadelphia, Dallas, Phoenix and Miami to start with.

Lauren Rampello Becotte, Founder and Chief Creative Officer of Pure Glow, grew up struggling with acne and spent many years learning to understand the limitations of self-tanning products and services. After turning to airbrush tanning, she spent a decade funding her own research and developing an organic and non-toxic formula that naturally reacts with the skin’s melanin to mimic a natural tan.

Aside from providing customers with transparency in their ingredients and services, Pure Glow is striving to make inclusivity amongst skin types an industry-standard in the tanning world.

“More people are becoming increasingly conscious of what goes on and into their skin,” Rampello Becotte said. “Pure Glow provides a tan that is smell-free, long-lasting, naturally-fading, and made with certified organic, deeply nourishing ingredients. Our expert airbrush application considers every shape, contour and curve to offer perfectly natural results, every single time.”

Beyond the strategy for franchise growth, Pure Glow raised the seed funding to provide the right foundations of support before bringing on their first franchisees. Over the past six months, Pure Glow has launched a new version of its website, partnered with award-winning Heitler-Houstoun design architects to create the studio’s new look and feel, and hired key franchise executives to assist with its expansion plans.

Maripat Pacino, who acted as the lead investor, saw an unmatched opportunity within the franchise beauty industry with Pure Glow.

“As a Drybar franchisee, I understand the pain points all beauty franchise concepts experience with the recruitment and retention of licensed employees,” Pacino said. “Pure Glow has a simplified operations model with fewer employees, no license requirements, and a service time of less than 15 minutes. I am excited to help Lauren and the team understand the needs of a franchisee within the beauty franchise industry.”

Sunless tanning is one of the few beauty services that do not require providers to get licensing, making it an easy-to-enter franchise opportunity with no red tape. With a solid franchise support system and flexible scheduling that allows franchisees to nurture their work-life balance, the brand’s franchise model is supportive and driven by customer and franchisee satisfaction.

“Everyone deserves to have their outer glow match their inner glow. People with vitiligo, eczema, acne, or any other kind of skin condition have an incredibly difficult time finding skincare and beauty supplies, let alone a suitable self-tanner that doesn’t irritate their skin,” Rampello Becotte said. “Pure Glow is for everybody. We are interested in teaming up with passionate franchisees who want to make people feel good about themselves.”

About Pure Glow

Open since 2015 and franchising since 2023, Pure Glow is the airbrush tanning concept that is committed to re-defining what it means to provide a healthy and high-quality sunless tan. With two locations open and operating in Boston, the brand is looking for excitable, friendly and fun franchisees who are interested in defining the industry standard around safe, organic and effective sunless tanning. The average cost to open a Pure Glow studio ranges from $335,700 to $661,850. For more information on franchising, please visit https://www.pureglow.com/franchise

Contact: Maddy Reda, Franchise Elevator (847-945-1300 Ext. 255) |
[email protected]  

SOURCE Pure Glow

LONDON, Nov. 2, 2023 — Accelex, a leading provider of AI automation for private markets data acquisition, reporting and analytics, announced today it has closed a $15 million Series A funding round led by FactSet, a global financial digital platform and enterprise solutions provider, with participation from existing investors Illuminate Financial, AlbionVC, SixThirty Ventures and Expon Capital.

The capital infusion comes at a time of rapid growth for Accelex, allowing the firm to further expand operations, enhance product capabilities, and deliver exceptional client success. This transaction strengthens the relationship between the two firms, with Accelex’s technology already a key enabler in FactSet’s private markets growth strategy.

Transparency is vital for investors. However, unlike traditional assets, investments in private markets are plagued by unstructured content, often requiring expensive and error-prone manual processing. Accelex is transforming the way investors tackle these challenges by leveraging market-leading data science to automate the end-to-end workflows from document acquisition and data extraction to reporting and analytics. FactSet and Accelex are bringing innovation to the alternative assets industry, ultimately providing clients with solutions to better understand the drivers of investment performance.

“Data-driven decision-making is critical for our clients, particularly as their portfolios increase in exposure to private capital, where the acquisition, aggregation, and analysis of investment data has been a challenge,” said Rob Robie, Executive Vice President, Head of Institutional Buyside at FactSet.  “We are thrilled to partner with Accelex on this journey to bring innovative solutions to private markets, united by our shared commitment to empowering the alternative investment community with superior data and analytics, enabling better investment outcomes.”

“This partnership will solidify our position as a leader in the alternative investment data management and analytics space,” added Michael Aldridge, President at Accelex. “Today we serve some of the world’s largest and most sophisticated investors, and their service providers, delivering better data, faster while reducing their operational burden.”

“We are delighted with the completion of this latest financing round with FactSet and the continued support from our financial partners,” remarked Franck Vialaron, Chief Executive at Accelex. “This further validates the Accelex team, our approach to innovation, and the unique value proposition we offer our private markets clients.”

This funding comes at an exciting time for Accelex. During the past 24 months the firm has embarked on a phenomenal growth trajectory, adding a large number of top-tier asset owners and allocators along with asset servicers and service providers as clients. These firms now represent a combined asset base of over $1.5 trillion, invested in more than 13,000 private market funds across 4,000 asset managers.

Zelig Capital Partners acted as financial advisor and Goodwin Procter LLP acted as legal advisor to Accelex. Mills & Reeve LLP acted as legal advisor to FactSet.

About Accelex

Founded in 2018, Accelex provides data acquisition, analytics and reporting solutions for alternative investors and asset servicers, enabling firms to access the full potential of critical investment performance and transaction data. Powered by proprietary artificial intelligence and machine learning techniques, Accelex solutions automate processes for extraction, analysis and sharing of difficult-to-access unstructured data. Accelex is headquartered in London, with offices in Paris, Luxembourg, New York, and Toronto. Find out more at www.accelextech.com and follow Accelex on LinkedIn.

About FactSet

FactSet (NYSE:FDS| NASDAQ:FDS) helps the financial community to see more, think bigger, and work better. Our digital platform and enterprise solutions deliver financial data, analytics, and open technology to nearly 8,000 global clients, including almost 190,000 individual users. Clients across the buy-side and sell-side as well as wealth managers, private equity firms, and corporations achieve more every day with our comprehensive and connected content, flexible next-generation workflow solutions, and client-centric specialized support. As a member of the S&P 500, we are committed to sustainable growth and have repeatedly scored 100 on the Human Rights Campaign® Corporate Equality Index. We have been recognized amongst the Best Places to Work in 2023 by Glassdoor as a Glassdoor Employees’ Choice Award winner. Learn more at www.factset.com and follow us on Twitter and LinkedIn.

Logo – https://mma.prnewswire.com/media/2037532/3949332/Accelex_Logo.jpg

SOURCE Accelex

DRIVE Catalyst, the venture capital arm of the Far Eastern Group, is investing US$5 million in Ambercycle to support the construction of the circular polyester startup’s commercial-scale facility to scale up textile-to-textile regeneration in the apparel industry.

LOS ANGELES and TAIPEI, Nov. 2, 2023 — DRIVE Catalyst, the investment arm of Taiwanese conglomerate Far Eastern Group, one of the world’s largest virgin and recycled polyester textile makers, has invested US$5 million in Ambercycle as part of a strategic effort to scale textile-to-textile regeneration in the apparel industry.

The initial investment will support the scale-up of cycora®, the startup’s circular polyester made from end-of-life textile waste. It is the first step in a broader plan to jointly collaborate on building the textile-to-textile ecosystem.

“Decarbonized raw materials, such as cycora®, appeal to our customers’ demand and strong support for sustainable fashion. Textile-to-textile regeneration will be crucial in shifting to a fossil-free fashion industry. However, the production infrastructure must be scaled to fulfill the business requirements of large fashion brands and their customers. With Ambercycle as a partner, we can make significant strides forward,” says Juliana Pidner Hsu, Managing Director.

While circular textile solutions are rapidly advancing, wider adoption requires continuous infrastructure development. Global infrastructure to collect and distribute discarded textiles to facilities that can use them as feedstock in the production of regenerated textiles must be scaled. The manufacturing of sustainable textiles must also become more robust, offering brands and designers the diversity of yarns, fabrics, and raw materials currently available from non-recycled, fossil fuel-based sources.

“We have a deep conviction in circularity and the commercial viability of cycora® in the highest quality applications in apparel. For circularity to scale, integration across the entire value chain is essential. We are looking forward to working with world-class partners like Far Eastern Group to bring significant product and business expertise to Ambercycle’s cutting-edge manufacturing innovation,” says Shay Sethi, Co-Founder and CEO of Ambercycle.

As one of several strategic initiatives, the partnership will draw from Far Eastern Group’s 70 years of experience in global polyester manufacturing and Ambercycle’s expertise in materials innovation to bring circularity and decarbonization to the apparel industry.

About Ambercycle:
Ambercycle is powering circularity in fashion. Established in 2015, this Los Angeles-based company is revolutionizing the fashion industry with its award-winning molecular regeneration technology.  cycora® regenerated polyester is the company’s first premium material solution made from end-of-life textiles. Driven by the vision to improve humanity’s relationship with materials, Ambercycle is minimizing the impact of raw material extraction on our environment and paving the way to decarbonize fashion.

About Drive Catalyst:
Drive Catalyst is the corporate venture capital arm of the Far Eastern Group (FEG), one of the largest and most diversified conglomerates in Taiwan. Backed by FEG and inspired by the group’s many sustainable initiatives and commitments to the circular economy, Drive Catalyst seeks to invest in disruptive technologies in the fields of precision, environment, and efficiency and draw on their network to support innovative founders who can make a difference in the world.

About Far Eastern Group:
Starting from textiles and with more than 70 years of continuous investments and expansions, the Far Eastern Group is one of Taiwan’s largest and most diversified conglomerates. It comprises 247 companies spanning over 10 major industries with nine publicly listed companies. The Group has total assets exceeding US$100 billion and annual revenue surpassing US$24 billion.

For press inquiries, please reach out to press@ambercycle.com

SOURCE Ambercycle

By using AI technology, Treads enables predictive maintenance options on an all-in-one mobile application

PARK CITY, Utah, Nov. 2, 2023 — Treads, an AI-powered car maintenance subscription, announced it has raised a $4.6 million seed funding round led by Mucker Capital with participating investors including Kickstart Seed Fund, Peak Ventures, Royal Street Ventures, and Convoi Ventures. The funds will support Treads’ expansion into 16 additional cities in the U.S., making Treads available in 34 cities by the end of 2023.

Motor vehicle repair prices increased by 20% in the past year due to new technology in cars, older vehicles, and fewer auto repair technicians, making it more difficult to maintain a car’s condition. Routine maintenance is not only important for the everyday car owner but also for gig economy workers like Uber or Lyft drivers who rely on their cars as their primary source of income. Treads is simplifying vehicle maintenance through its all-in-one subscription mobile app that offers subscriptions on tire replacement, wheel alignment, oil changes, and wiper blades. Customers can now have new tires delivered and installed at their home or work, in addition to brick-and-mortar service centers that are part of the Treads Service Network.

“Maintaining a car these days can be a real inconvenience and drain on your wallet, especially if you neglect regular upkeep, which can lead to bigger issues down the road,” said Zach Olson, the CEO and Founder of Treads. “Our goal is to change the way people think about car ownership and maintenance by leveraging advanced AI, introducing emerging auto-tech to consumers, and making car maintenance more affordable through an accessible subscription. With this funding, We look forward to reaching new markets and giving drivers peace of mind knowing that Treads has their tire needs and services covered quickly and more efficiently.

Treads’ subscription helps customers pay for new tires on a monthly basis rather than all at once, making it easier to budget and manage what maintenance is needed from their mobile device. Subscribers can save on average $679 and 16 hours over the lifespan of their tires by using Treads. The company uses AI to provide predictive maintenance updates and visual machine learning to determine when tires are repairable if damaged or when they need to be replaced. Customers scan their tires using the camera on their smartphone through the Treads app and they will automatically receive tire information including size, tread depth, and condition, etc.

“Zach and the team at Treads have executed incredibly over the last couple of years from concept to now growing significantly and thoughtfully into 20+ cities, “said Jon Broscious from Mucker Capital. “The subscription and product have been well received and in high demand from customers; Zach and team have built a quintessential business with great unit economics, a compelling product for consumers, and valuable partnerships with industry leaders. We are excited about this next stage of growth under Zach’s leadership as Treads continues to expand across more cities in the U.S.”

A Treads subscription offers compatibility with all types of vehicles, from traditional gasoline cars to electric and smart vehicles. The platform features an extensive selection of top-tier tire brands, such as Goodyear, Michelin, Pirelli, and more. Additionally, its Auto Insurance Marketplace tailors insurance recommendations to your specific car model and budget. Committed to environmental responsibility, Treads allocates 1% of its revenue to initiatives aimed at reducing vehicle carbon emissions, since launching Treads’ contribution is the equivalent of removing the emissions of 29.9 cars for a full year.

To learn more about the Treads subscription, please visit treads.app and download the application from the Apple App Store or Google Play for Android users.

About Treads
Treads is an AI-powered car management subscription designed to make car ownership more enjoyable by eliminating the hassle of car maintenance while making the roads safer for everyone. Treads has users covered for tires, alignments, oil changes, wiper blades, and even auto insurance. The company has raised a total of $4.6 million from Mucker Capital, Kickstart Seed Fund, Peak Ventures, Royal Street Ventures, and Convoi Ventures.

Media Contact
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SOURCE Treads App, LLC