Fundraise supports market expansion with Summus emerging as the premier clinical platform to share and access high quality specialty expertise across the continuum of care — serving employers, payers, health systems and physician groups.

NEW YORK, Sept. 13, 2023 — Summus, the leading virtual health company focused in specialty care, announced today that it raised $19.5 million to support the company’s continued growth and work to solve the access problem to high quality physicians. Following a previous investment round in 2022, Summus has now raised $70 million to expand its innovative approach to care.

The company’s proprietary marketplace model empowers patients, families, caregivers and physicians to share and access high quality specialty expertise — across all health questions, at any point in the journey. By accelerating access to high quality physicians, Summus delivers best-in-class clinical guidance, advocacy and navigation. Summus works with leading employers, health plans, physician groups and leading medical institutions to provide a broad portfolio of solutions that improves access to quality care and improves outcomes.

“Durable, category defining companies naturally evolve and expand their aperture to serve more people over time. We are investing to meet the explosive demand for Summus solutions across the healthcare ecosystem,” said Mitchell Rales, Co-founder and Executive Chairman, Danaher Corporation.

In supporting more than 2 million lives, 98% of Summus members report that they better understand what to do in the next stage of their healthcare journey. Since 2020, consistent feedback from Summus members and physicians reflect universal recognition of the access and insights through Summus that would not otherwise have been available.

“The value of accessing high quality physicians in an expedient manner is vital — for peace of mind, optimizing treatment paths, and driving better outcomes. We continue our commitment to put high quality physicians, the most trusted party in healthcare, at the center of decisions big and small,” said Julian Flannery, Summus CEO and Co-founder.

The investment will focus on further scaling growth for the organization, including meeting demand for Summus’ innovative solution to support primary care physicians in a peer-to-peer environment, and enhancing condition-specific, personalized journeys for patients to access the best care with the most trusted physicians.

“We remain inspired by the Summus team and the value proposition they bring to the healthcare ecosystem. In providing access to thousands of the world’s most talented physicians to patients, families and physicians who need their expertise, we see Summus changing lives on a daily basis. We’re grateful to have the opportunity to continue to support Summus as they expand their capabilities to solve the critical issues of access to quality healthcare today,” said Rick Buhrman, Co-Founder and Co-CEO, Sator Grove Holdings. “I am impressed by the continued innovation, commitment and expertise of the Summus team, and am thrilled to see their growth and recognition in the market for bringing new solutions to physicians and patients around the world.”

About Summus
Summus is the leading virtual health company, founded with a mission to restore human connection in healthcare. Our proprietary marketplace model empowers patients, families, caregivers and physicians to share and access high quality specialty expertise — across all health questions, at any point in the journey. With a curated network of more than 5,100 renowned specialists from top academic medical centers, and more than 2.1 million members around the world, Summus serves as the clinical front door to access trusted, high quality, healthcare expertise, and to support people in the moments that matter most.

Summus. Better access. Better decisions. Better outcomes. Across the continuum of care.
Learn more: www.summusglobal.com

SOURCE Summus

MIAMI and AUCKLAND, New Zealand, Sept. 13, 2023 — Avasa, a medical device pioneer advancing surgical techniques for improved patient outcomes, announces the successful completion of its recent funding, raising an impressive $1.55 million in capital investment. The influx of new investment comes from New Zealand Growth Capital Partners, Pacific Channel, Booster Innovation Fund, Brisbane Angels, and Cure Kids Ventures, whose support augments existing investors Bridgewest Group, and Uniservices, the investment arm of the University of Auckland.

“We are thrilled to receive overwhelming support from both new and existing investors. With these additional resources we can accelerate our go-to-market efforts. We have hired a top-tier quality assurance manager, launched the second phase of our market validation survey to support our Series A raise, are finalizing product development, scaling up manufacturing, and collecting data from our animal trials ahead of our US FDA 510K submission in early 2025. In the next year, we aim to set up relationships with preferred distributors for the US market,” says Dr. Nandoun Abeysekera, CEO and Founder of Avasa.

The high interest in capital support affirms the investment community’s confidence in Avasa’s scientific approach to transforming procedures in reconnecting veins and arteries in reconstructive microsurgery. “Currently, surgeons face the challenge of tediously hand-sewing micro arteries to re-establish blood flow to transplanted tissues. This manual method is not only intricate and risk-laden, but also consumes 40-60 minutes for just one arterial connection. Our innovative implant makes microvascular surgery quicker and safer. We are empowering surgeons to securely and efficiently link microvascular arteries in under 10 minutes, positioning us as the next standard of care,” says Dr. Abeysekera.

Jacques Richter, Associate Investment Director, New Zealand Growth Capital Partner adds, “we are excited to join Nandoun and the Avasa team on their journey to change reconstructive microsurgery. Throughout our due diligence process, we were impressed by Nandoun’s deep understanding and personal connection to the problem being solved. This is evidenced in the elegant coupler design that the Avasa team has developed which provides clear value to surgeons.”

In the future, Dr. Abeysekera expects the scope of Avasa’s device to expand to other surgical fields such as organ transplants, cardiothoracic surgery and vascular surgery. “We want to keep innovating at the intersection of medicine, design, and engineering to improve health outcomes for people,” says Dr. Abeysekera.

About Avasa
Avasa is a medical device company dedicated to revolutionizing surgical procedures through innovative implantable devices. Avasa’s mission is to transform reconstructive microsurgery and help patients who’ve suffered debilitating disease and deformity.

Media Contacts:

U.S. Jenny Bourbiel, [email protected]
New Zealand Dr. Nandoun Abeysekera, [email protected]

SOURCE Avasa

Exostellar’s Vision for AI-Driven Supercomputing Optimization Receives Boost with Additional Investments and New Leadership

SANTA CLARA, Calif., Sept. 13, 2023 — Exostellar, the innovative cloud resource optimization and management platform, is excited to announce the closing of its oversubscribed $15 million Series A financing, led by Celesta and Cambium Capital, with participation from Candou Ventures and AI Capital Partners (Alpha Intelligence Capital‘s U.S.-based fund). Backed by this investment, Exostellar is poised to propel its pioneering technology into the AI-GPU domain. The strategy involves amplifying its X-Compute platform and extending its CPU live migration IP to encompass GPU compatibility. This innovative Cloud Native GPU live migration initiative will propel Exostellar to the forefront, well-equipped to cater to the escalating requirement for GPU-centric AI workloads.

With the close of this oversubscribed round, Exostellar is also announcing that Tony Shakib is assuming the role of President and CEO. This strategic transition comes at a pivotal moment as Exostellar positions itself for exponential growth and impact. Hakim Weatherspoon, in turn, will assume the role of Chief Scientist, focusing on driving innovation and technological advancement within the company.

“Exostellar is committed to redefining how cloud resources are optimized and managed, and this additional investment fuels our efforts to provide enterprises with game-changing solutions that drive efficiency, scalability, and cost savings,” said Tony Shakib.

“It’s truly gratifying to witness Exostellar’s journey from its early days,” said Lip-Bu Tan, the lead investor in Exostellar’s seed round. “The oversubscription of the Series A funding is a testament to the team’s dedication and the disruptive potential of their platform. Exostellar has the power to transform how cloud resources are optimized, and I’m excited to see its impact on the industry.”

Nhi Lê, Principal at AI Capital Partners, expressed excitement about the investment, stating, “We’re excited to invest in Exostellar and its development of AI-enabled cloud GPU resource optimization solutions. Exostellar’s momentum in stateful CPU live migration and cloud cost reduction has ushered in industry-changing breakthrough for cloud-based high memory compute. With the upcoming GPU capabilities, Exostellar is uniquely positioned to address the global compute bottleneck for high performance computing and AI applications.”

Media Contact:
Nayan Lad, [email protected]

SOURCE Exostellar

Raise amplifies nature-based services’ ability to deliver climate and social impact by measuring and selling the carbon captured by the world’s 2 billion smallholder farmers

PITTSBURGH, Sept. 13, 2023 — Today, AI-powered regenerative nature based services provider ReSeed announced a Seed raise of $4.6 million led by One Small Planet. Additional investors include Thorn Partners, and a mix of angel investors including Baratunde Thurston and Elizabeth Stewart, among others. This capital raise enables ReSeed to further expand into the commercial market.

With venture capital investment dipping across industries, this raise indicates the viability and opportunity that ReSeed’s work represents: ReSeed merges a globally-scalable climate solution that has enormous measurable social impact, rallying the business community by cultivating a new market approach to climate financing. ReSeed partners with the globe’s 600 million smallholder farmers to monetize their immense, largely-unpaid global impact, bringing carbon credits directly from farmers to the market. Founded in 2022, ReSeed has created the first carbon credits with traceability from beginning to end of lifecycle.

The raise will additionally enable the growth of ReSeed’s partnerships with farmers around the globe, allowing their vital work to continue while overcoming issues in legacy carbon markets via auditable data, enhanced technology, and a scalable approach.

“Smallholder farmers play a leading role in storing carbon and strengthening global food security,” says Vasco van Roosmalen, co-founder and CEO of ReSeed. “Engaging with people as part of the solution in the fight against the climate crisis – while significantly reducing legacy carbon in the atmosphere – provides fundamental co-benefits that will define the next generation of climate tech.”

“While there are many schemes in place to capture and sequester carbon, not all are equal: ReSeed is a novel player in the carbon markets. Their model of ‘farm fresh carbon credits’ ensures that those who receive compensation are from communities who have done the least to exacerbate climate change, but who are suffering the most from it,” says Baratunde Thurston, Emmy-nominated host, producer, New York Times Best Selling writer, and public speaker.

“ReSeed is leading the future of climate tech with AI-powered solutions driving the nature-based services markets towards more equitable outcomes for the world’s smallholder farmers. The sector must provide world-changing solutions that also drive equity to people around the globe. ReSeed is meeting the moment with globally scalable solutions that benefit both people and planet, making it an ideal investment for us,” says Jack Wielebinski, One Small Planet Fund Operating Officer.

“We are committed to pursuing technologies that enhance communities and the planet: ReSeed is emblematic of that goal. The company sets a high standard for this next generation of carbon markets. We expect ReSeed’s carbon credits to become a staple amongst forward-thinking companies around the planet,” says Conor Platt of Thorn Partners.

About ReSeed PBC
ReSeed is a nature-based services provider, bringing carbon credits directly from smallholder farmers to the market. We fight climate change at scale by financing and incentivizing these farmers to steward carbon through regenerative farming practices. ReSeed is the first company to combine environmental and social impact metrics with traceable carbon credits from farms, bringing to market a data set that increases accountability and fosters clean supply chains.

Learn more at https://reseed.farm/

About One Small Planet
One Small Planet (“OSP”) is a Vital Capital Group, on a mission to harmonize the wealth of people and planet by regenerating our natural systems and evolving our economic systems. One Small Planet’s Fire Fund invests in companies focused on improving environmental outcomes while operating sustainable business models. OSP invests growth capital in Series Seed and Series A rounds to support innovative, environmentally focused companies grow and scale. OSP was founded by Will Peterffy.

Learn more at www.onesmallplanet.org

Media Contact:
Daria Richman
646-527-2263
[email protected]

SOURCE ReSeed

Tel Aviv-based electric grid technology firm poised to focus growth on US market with hires and Austin-based offices.

TEL AVIV, Israel, Sept. 13, 2023 —  Prisma Photonics, the dynamic, AI-driven startup that monitors large-scale infrastructure, such as power grids, announced today that it raised approximately $20M in a Series C round led by New York-based global private equity and venture capital firm Insight Partners, with participation from Elements, a Climatech fund, SE Ventures (Schneider Electric’s venture capital arm), Future Energy Ventures (the venture capital investment and collaboration platform of E.ON), Chione Switzerland, and INcapital.

The investment will accelerate the company’s break into the global power and renewable energy market while supporting its continued growth. This round brings the total funding raised by Prisma Photonics to over $50 million. The company’s earlier investors include Israel Electric Corporation, Israel Natural Gas Lines, and i3 Equity Partners.

Prisma Photonics optical fiber sensing technology offers power transmission operators better ways to manage their grids. It allows them to maximize the electrical capacity of the current grid to increase the integration of renewable energy sources. Doing that, operators respond to new emerging regulations such as FERC order 881 in the U.S. and similar. Real-time alerts on electrical faults and extreme weather conditions such as wildfires and icing offer better ways to retain grid resiliency in changing environments.

Prisma Photonics’ solutions monitor infrastructure using the existing optical fibers covering great distances, of up to thousands of kilometers, without the need to install any sensors on the infrastructure itself. Events and alerts are reported in real time and within meters of accuracy.

“Grid congestion and the integration of renewable sources have become pressing challenges for power market operators such as our Tier-1 customers,” states Dr. Eran Inbar, CEO of Prisma Photonics. “Our AI-driven technology not only adds a layer of resilience to the grid but also enables dynamic line rating capabilities, unlocking the full potential of existing infrastructure. This investment led by Insight Partners highlights the urgent need for innovative, scalable solutions in critical infrastructure management.”

“In a rapidly accelerating power and energy sector, we see both the market necessity and vast potential for Prisma Photonics’ solutions. Their unique blend of AI and engineering expertise addresses some of the most urgent challenges facing power operators today and their AI application can help solve consequential problems in infrastructure,” said Ganesh Bell, Managing Director at Insight Partners. “It’s a high-growth space, and doubling down on our investment in Prisma Photonics is not just strategic but imperative. We’re thrilled to back Eran and his team as they redefine the future of energy infrastructure management.”

“In a world grappling with climate imperatives, Elements fund aims to back those at the cutting edge of the energy and climate technologies.”, says Nitsan Alon, Managing Partner at Elements Venture Capital. “Our investment in Prisma Photonics is more than financial. It’s a testament to our belief in their capability to impact the industry significantly, and we are proud to have them as our first major investment.”

Prisma Photonics optical fiber sensing technology covers several infrastructure sectors, including power, oil and gas pipelines, subsea infrastructure, railways, highways, and other long-range utilities. It allows operators to increase infrastructure operations’ safety, efficiency, and cost-effectiveness while actively supporting utility operators in achieving their net-zero goals.

About Prisma Photonics

Prisma Photonics revolutionizes infrastructure monitoring by using optical fibers to monitor critical large-scale infrastructure like power grids and oil & gas pipelines for thousands of kilometers, eliminating the need for sensors.

Combining Hyper-Scan Fiber-Sensing™ technology with machine learning allows utility operators to reach environmental and renewable energy goals while keeping operational excellence in their journey to net-zero emissions.

Founded in 2017 by an expert team with a proven track record of building and scaling companies in the deep-tech domain

About Insight Partners

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2022, the firm has over $75B in regulatory assets under management. Insight Partners has invested in more than 750 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.

About Elements Fund

Elements is a leading Venture Capital fund, with a primary focus on startups that are driving ground-breaking solutions to combat climate change. Our mission is to support and nurture companies at the forefront of climate technology, particularly in the energy sector. Through our own network we hope to assist portfolio companies in scaling globally.

Logo – https://mma.prnewswire.com/media/1742669/Prisma_Photonics_Logo.jpg

SOURCE Prisma Photonics

NEW YORK, Sept. 13, 2023 — The venture capital investment market is estimated to grow by USD 737.56 billion from 2022 to 2027, decelerate at a CAGR of 20.88%. The venture capital investment market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer venture capital investment market are Accel, Agoranov, AH Capital Management LLC, Balderton Capital UK LLP, Battery Ventures, Caixa Capital Risc SGEIC S.A., Cherry Ventures Management GmbH, Eurazeo, First Round Capital, GGV Capital, Greylock Partners, Hoxton Ventures LLP, Index Ventures UK LLP, Lakestar Advisors GmbH, Seedcamp Investment Management LLP, Sequoia Capital Operations LLC, Target Global, Union Square Ventures, Bessemer Venture Partners, and Founders Fund. The report provides a full list of key companies, their strategies, and the latest developments. Download a FREE Sample before buying

Company Offering:

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in exi — sting and potential markets and assess their competitive positions within changing market scenarios.

• Accel – The company invests in the internet technology and software development industries.
• For details on companies and their offerings – Buy the report!

By Geography, the market is classified as North America, APAC, Europe, South America, and Middle East and Africa. North America will have the largest share of the market.

• North America will contribute 43% to the growth of the global market during the forecast period. 

Download a FREE sample report to get more insights on the market share of various regions and the contribution of the segments.

• Impactful driver- Increasing VC investment in biotech and remote working software companies
• Key Trend – Rising number of high-net-worth individuals (HNWIs) globally
• Major Challenges – Foreign exchange volatility

 Market Segmentation

• By Type, the market is classified into first-time venture funding and follow-on venture funding. First-time venture funding and follow-on venture funding contribute the largest share of the market. This segment comprises the development, distribution, and maintenance of software products and services. Venture capital firms have particularly increased investment in software that is transforming industries. The industries include Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), CloudTech, and DevOps. Furthermore, total investments by venture capitalists in this software exceeded several billion dollars, with a few of them being valued at more than a billion dollars and being classified as Unicorns. Also, there was a greater number of software startups in 2020 with estimates of about 75,000 startup firms in the US. Hence, such factors boost the segment growth of the venture capital investment market during the forecast period.

Technavio Research experts have provided more insights on the market share of segments – View FREE Sample Report

Related Reports:

The human capital management (HCM) solutions market is estimated to grow at a CAGR of 8.45% between 2022 and 2027. The size of the market is forecast to increase by USD 11,195.8 million. This report extensively covers market segmentation by application (core HR, talent, and workforce), component (solution and service), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The increasing demand for unified solutions for all HR functions is notably driving market growth.

The semiconductor capital equipment market size is expected to increase by USD 17.05 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.18%. Furthermore, this report extensively covers semiconductor capital equipment market segmentation by type (wafer-level manufacturing equipment, packaging and assembly equipment, and automated test equipment) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The rising number of fabs is notably driving the semiconductor capital equipment market growth.

TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Sector

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About US

Contact US:

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

MARICOPA, Ariz., Sept. 13, 2023 — Biodel Ag, Inc., a regenerative agriculture company, today announced closing its Series A financing round led by Pangaea Ventures Ltd, a renowned venture capital firm with a focus on advanced materials and clean technology. The funding will support Biodel AG’s commitment to accelerating commercialization of novel solutions aimed at enhancing soil health, optimizing water utilization, improving nutrient efficiency, and sequestering carbon emissions from the atmosphere. As part of this financing, Janelle Goulard, a respected partner at Pangaea Ventures, has joined Biodel AG’s board of directors.

Ben Cloud, CEO of Biodel AG, stated, “This strategic investment by Pangaea Ventures solidifies Biodel AG’s position as a leader in regenerative agriculture and underscores our unwavering dedication to addressing the urgent challenges of our time. Pangaea’s investment not only validates our vision but also equips us with the resources needed to expedite our commercial progress. We firmly believe that our biological agriculture products represent the most compelling and cost-effective solution for sequestering substantial volumes of CO₂ and other greenhouse gasses from our atmosphere while revitalizing depleted soils.”

The agricultural practices of the 20th century have had detrimental effects on our soil, transforming it into mere dirt, depleting crucial soil microbes and carbon content, and impeding the capacity of plants to absorb water and nutrients due to salt accumulation. Vibrant, healthy soils require less water, reduced fertilizer inputs, promote a sustainable food supply, and play a pivotal role in capturing atmospheric carbon. Biodel AG is dedicated to reestablishing sustainability within our food supply chain while enabling the sequestration of greenhouse gasses through cutting-edge biological products, ultimately revitalizing soil health and functionality, and bolstering plant vitality.

“We recognize the immense value of Biodel AG’s innovative regenerative agriculture solutions, which promise to rebuild the earth’s depleted soil and its biodiversity in order to reverse climate change,” said Janelle Goulard, Pangaea Ventures partner. “Funding will enable Biodel AG to accelerate its transformative work, further solidifying the company’s role in building a sustainable future.”

About Biodel AG, Inc. 
Biodel AG, Inc is the developer of biological ingredients for the crop protection industry. Ingredients are suitable for regenerative agriculture and certified organic growers. The company also manufactures Sequester^®, a liquid, non-toxic biological soil amendment that is applied to depleted soils to restore soil function. Sequester is a regenerative tool that restores the soil’s ability to capture CO2 from the atmosphere to reverse the effects of climate change. For more information, visit: https://biodelag.com/

About Pangaea Ventures
Pangaea Ventures is the world leader in hard tech and impact investing, with offices in Vancouver, B.C., Canada and Phoenix, AZ, USA. With over two decades of hard tech impact investing experience, Pangaea’s portfolio includes companies that are solving fundamental challenges that impact the world including climate change, global food security, access to clean water and poor health outcomes. For more information, visit: www.pangaeaventures.com/

SOURCE Biodel AG

ELGIN, Ill., Sept. 13, 2023 — Nuts, Bolts & Thingamajigs (NBT), the foundation of the Fabricators and Manufacturers Association (FMA), has been awarded an $837,877 grant from the National Institute of Standards and Technology (NIST) to expand the foundation’s programs throughout the country.

“NBT is poised for transformational growth over the next three years as the NIST award will fund NBT’s mission to inspire, encourage, and support the next generation of manufacturing workers. We are incredibly honored to receive this award, knowing that NIST has entrusted us to continue our good work of building the manufacturing workforce for the future,” said Ed Youdell, president and CEO.

NIST is an agency within the U.S. Department of Commerce with the mission to promote U.S. innovation and industrial competitiveness by advancing measurement science, standards, and technology in ways that enhance economic security and improve our quality of life. NIST is also home to the Hollings Manufacturing Extension Partnership (MEP), a federal program dedicated to enhancing the productivity and technological performance of U.S. manufacturing. The MEP program has been a valuable resource for many companies in the metal fabricating community.

NBT will use the grant funds to expand its scholarship and manufacturing camp programs, as well as research and development activity for new initiatives that serve youth and adults and influence their pursuit of a manufacturing career. Specifically, NBT’s scholarship program will increase by 55 percent; the number of traditional summer manufacturing camps will grow by more than 20 percent; and the foundation will expand its newest program, inclusion manufacturing camps, by nearly 25 percent. Counting participants from all programs combined, the NIST grant will allow NBT to reach an estimated 1,000 additional future manufacturers in the first year alone.

About NBT and FMA 

Through its manufacturing camp and scholarship programs, Nuts, Bolts & Thingamajigs^® (NBT) is inspiring the next generation of manufacturers, inventors, and entrepreneurs. 

NBT is the foundation of the Fabricators and Manufacturers Association™ (FMA). Founded in 1970, FMA is the leading educational association for the metal processing, forming, and fabricating industry. 

For more information, visit nbtfoundation.org.

CONTACT: Cindy Day, [email protected]

SOURCE Fabricators & Manufacturers Association, Int’l (FMA)

With Funding Led by Augment Ventures and Joined by Beringea, Optilogic Advances SaaS Supply Chain Network Design Innovation and Drives Rapid Growth

ANN ARBOR, Mich., Sept. 13, 2023 — Supply chain network design software innovator, Optilogic, has secured funding from new partners Augment Ventures and Beringea and existing investors MK Capital and Multiverse Investments. The funding supports Optilogic’s rapid growth and makes a new era of supply chain design a reality with industry-exclusive features in its Cosmic Frog platform that enable companies to:

• Automatically compare hundreds of future-state supply chain scenarios to select the most resilient designs
• Implement incremental strategic supply chain changes on realistic timelines
• Develop action plans to reduce the impact of supply chain disruptions
• Design supply chains that balance cost, service, risk, and sustainability

Pressures of persistent economic and political uncertainty expose the weaknesses of traditional supply chain network design technologies that are slow, require costly capital and IT investment, and have lengthy implementation processes.

One-hundred percent SaaS-based Cosmic Frog network optimization runs 40% faster than competitor solutions, is accessible from anywhere, and uses hyperscaling technology to allow hundreds of models and scenarios to run in parallel on enterprise-scale computing resources.

“We are backing the vision of Don Hicks and his team to make supply chain design and optimization empower all functions across an organization,” said Sonali Vijayavargiya, founder and managing partner of Augment Ventures, which invests in technology companies that are transforming traditional industries. “We believe Optilogic’s cloud-native approach provides customers unmatched power, speed, and scalability. In addition, the platform goes beyond the competition by layering risk ratings to its optimization and simulation engines.”

“The Optilogic team has developed an impressive cloud solution, one that moves the industry forward in ways that are unique and differentiated from competitors and incumbents,” noted Ben Bernstein, principal at Beringea, a transatlantic venture capital investor which supports rapidly scaling entrepreneurial companies. “We are excited to back a team from our home state that has had proven success before. We look forward to helping the company realize their vision and scale the business in a way that allows their customers to design optimized supply chain systems with a superior user experience.”

Optilogic CEO and Founder, Donald A. Hicks, sees this funding as a significant step in the company’s growth. “This new investment partnership recognizes the critical nature of the technology we’re building: Optilogic gives any company the ability to envision and design a future supply chain without having to stumble into it. To not just reach the ‘efficiency curve’ of the current supply chain, but to shift the entire curve.”

About Optilogic

Optilogic offers cloud-native supply chain design solutions that enable businesses to evaluate trade-offs across financial performance, service levels, and systemic risk to design resilient supply chains even in the most dynamic, challenging environments. Its Cosmic Frog supply chain design solution tackles enterprise data at scale, runs models faster than ever, automatically converts legacy models, and requires no IT footprint. Cosmic Frog is the only supply chain design platform to combine optimization, simulation, and risk engines, and includes a risk rating on every scenario. Solutions include network design, intelligent greenfield analysis and site selection, M&A analysis, near-shoring/reshoring, CapEx planning, cost-to-serve, product flow, and many more. Stay in touch with Optilogic on LinkedIn, Twitter, Facebook, and YouTube and visit www.Optilogic.com.

Press Contact:

Jennifer Randall
218-341-1318
http://www.optilogic.com

SOURCE Optilogic