• Financing round led by Cleveland Clinic with participating investors JobsOhio Growth Capital Fund and an undisclosed investor
• Proceeds will enable the initiation of the pivotal clinical trial RESTORE

CLEVELAND, Aug. 1, 2023 — Enspire DBS Therapy, Inc., (Enspire) a clinical stage company developing an implantable neuromodulation therapy for post-stroke recovery, announced today that it raised $17.6 million of committed capital in a Series B financing led by existing investor, Cleveland Clinic. Also participating in the round were JobsOhio Growth Capital Fund and an undisclosed investor.

The company plans to use the proceeds to initiate the RESTORE pivotal clinical trial using deep brain stimulation (DBS) and rehab therapy (DBS + Rehab) to treat patients with chronic upper extremity impairment due to stroke.

“The first trial in humans known as EDEN (Electrical Stimulation of the Dentate Nucleus for Upper Extremity Hemiparesis Due to Ischemic Stroke), was a proof-of-concept study combining DBS with Rehab to help stroke patients regain function. The results from EDEN led to this Series B raise,” said Scott Kokones, Chief Executive Officer of Enspire, “With RESTORE, the company aims to generate the data necessary to demonstrate the long-term safety and efficacy of DBS+Rehab in Stroke patients to support marketing approval.”

“Cleveland Clinic Innovations is dedicated to supporting technologies to enhance patient outcomes. Our most recent investment in Enspire DBS aligns with our focus on innovative neuro-stimulation solutions addressing significant clinical challenges,” said JD Friedland, Managing Director of Ventures at Cleveland Clinic Innovations. “Enspire’s emphasis on operationalizing and advancing new technology matches the mission of Cleveland Clinic Innovations.”

About Stroke
Approximately 800,000 people in the United States suffer strokes yearly, which is the leading cause of long-term disabilities. While most patients will survive the acute phase, persistent neurological issues will likely jeopardize the quality of life and productivity, with approximately 50% of survivors still exhibiting disability severities that require assistance with daily activities.

About EDEN
The EDEN trial (Electrical Stimulation of the Dentate Nucleus for Upper Extremity Hemiparesis Due to Ischemic Stroke) conducted at The Cleveland Clinic enrolled 12 individuals with chronic, moderate-to-severe hemiparesis of the upper extremity because of a unilateral middle cerebral artery stroke 1-3 years prior.

Each participant was implanted with a DBS System, which involved the surgical implantation of electrodes into the cerebellum. Following discharge and recovery from the surgery, participants completed several months of physical therapy, first with the DBS device turned off for several weeks and then turned on for four-to-eight months.  

DBS for stroke is investigational use; clinical studies for this indication are conducted under Enspire’s approved IDE from FDA.

About RESTORE
The RESTORE Stroke Pivotal Study will evaluate the safety and effectiveness of DBS + Rehab for treating arm weakness and reduced function after a stroke to support marketing approval of this therapy.

Each participant will be implanted with a commercially available third-party DBS system and receive a five-month outpatient rehabilitation therapy program. After five months of blinded randomized testing, participants assigned to active-control treatment (Ct) (rehab only) will cross over to receive DBS treatment (Tt) and participate in a second five-month therapy program. For more information, see ClinicalTrials.gov ID NCT05701280. The RESTORE trial is actively recruiting. www.restorestrokestudy.com

About Enspire 
Enspire DBS Therapy, Inc., headquartered in Cleveland, OH, is a clinical-stage medical device company focused on providing neuromodulation solutions to patients suffering from disabilities from stroke. Established in 2010, Enspire is a Cleveland Clinic portfolio company with the goal of commercializing novel therapies. For more information, visit www.enspiredbs.com

SOURCE Enspire DBS Therapy, Inc.

$16.3 million in additional grants and government funding awards to date shows strong progress in hydrogen infrastructure plans, creating an open-network of commercial hydrogen refueling stations

PHOENIX, Aug. 1, 2023 — Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced an additional $16.3 million has been awarded to Nikola to support seven open-network hydrogen refueling stations.

Nikola has now received $58.2 million in awards granted to support seven hydrogen refueling stations, which includes the recently announced $41.9 million Trade Corridor Enhancement Program (TCEP) grant award, collectively representing six hydrogen refueling stations located along Calif. freight corridors within the South Coast Air Quality Management District (AQMD), San Diego County Air Pollution Control District, and Mojave Desert AQMD.

The recent awards include:

• EnergIIZE West Sacramento California Energy Commission: $3.3 million*
• Mobile Source Air Pollution Reduction Review Committee: $1.6 million
• SacMetro AQMD: $7 million
• South Coast AQMD: $4.4 million

*Conditionally awarded pending final approval.

The additional awards build on the strategic partnership with Voltera to develop up to 50 HYLA stations throughout North America over the next five years.

“The California grant awards and government funding demonstrate the strong support for the Nikola hydrogen infrastructure brand HYLA’s mission of establishing a comprehensive zero-emission transportation solution to help fleets achieve climate goals and improve air quality in the most impacted communities. We continue to be grateful for the leadership demonstrated by California agencies in supporting the buildout of a zero-emissions ecosystem,” said Carey Mendes, president, Nikola Energy. “Building an integrated, hydrogen ecosystem to support hydrogen fuel cell electric truck deployment and creating a scalable energy business, is a top priority for us.”

These awards and partnerships serve as key enablers for Nikola’s first-mover zero-emission hydrogen fuel cell electric trucks, and HYLA’s fueling infrastructure, with plans to create an open-network of commercial hydrogen refueling stations initially in California and eventually throughout North America. To support and achieve this growth, HYLA is also developing a fleet of hydrogen mobile fuelers to provide Hydrogen Flex Fueling (H2F2).

ABOUT NIKOLA CORPORATION
Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, via the HYLA brand, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. For more information, visit www.nikolamotor.com.

FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements within the meaning of federal securities laws with respect to Nikola Corporation (the “Company”), including statements relating to the Company’s goals and strategy; the Company’s expectations related to the potential benefits from the various funding awards; any benefits potentially derived from the announced or future funding awards; the Company’s expectations regarding the production of hydrogen fuel cell electric trucks; Nikola’s ability to develop a hydrogen fueling infrastructure via its HYLA brand and that infrastructures ability to provide sufficient volumes of hydrogen to support Nikola’s hydrogen fuel cell electric vehicle demand; and Nikola’s ability to help fleets achieve climate goals and improve air quality in the most impacted communities. These forward-looking statements generally are identified by words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: design and manufacturing changes and delays, including global shortages in parts and materials; general economic, financial, legal, regulatory, political and business conditions and changes in domestic and foreign markets; demand for and customer acceptance of the Company’s trucks; the execution and terms of definitive agreements; risks associated with development and testing of fuel-cell power modules and hydrogen storage systems; risks related to the rollout of the Company’s business and milestones and the timing of expected business milestones; the availability of and need for capital; and the factors, risks and uncertainties regarding the Company’s business described in the “Risk Factors” section of the Company’s quarterly report on Form 10-Q for the quarter ended March 31, 2023 filed with the SEC, in addition to the Company’s subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause the Company’s actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

SOURCE Nikola Corporation

SINGAPORE, July 31, 2023 — 1Bstories, is a pioneering start-up founded by Anuvrat Rao, along with a team of esteemed ex-Google founding members, collectively having 23 years of experience developing and scaling products internationally, proudly announces its emergence from stealth mode. The company has successfully raised $5.5 million in a recent funding round from Northstar Group and 47 other VCs and angel investors to launch its breakthrough product, Vidiofy.

Vidiofy is a cutting-edge generative AI video tool designed specifically for publishers and brands seeking to enhance engagement with their communities, expand their social following, and create new revenue streams. With Vidiofy, businesses can effortlessly create hundreds of high-quality videos every month, eliminating barriers traditionally associated with video production, time and manpower.

“We are thrilled to officially introduce 1Bstories and unveil Vidiofy to the world,” said Anuvrat Rao, CEO and Founder of 1Bstories. “Our mission is to empower publishers and brands to seamlessly create captivating videos at scale, leveraging generative AI technology. Vidiofy is set to disrupt the industry by revolutionizing video creation, allowing businesses to create content like never before.”

Vidiofy offers an intuitive and user-friendly interface that streamlines the entire video production process. Leveraging the power of generative AI, the platform enables publishers and brands to generate an extensive library of video content effortlessly from scratch or from an existing article or web page. From captivating social media clips to personalized marketing messages, Vidiofy equips businesses with the tools to maximize their online presence and achieve unparalleled levels of engagement.

Part of the team is Stacie Chan, ex-Googler, award-winning journalist, and Emmy-nominated actress. She was thrilled to join 1Bstories and bring her love of storytelling and technology into one bold vision. Alongside Stacie is the “godfather of tech” Ravi Hamsa, with an illustrious career of working with top tech companies like Uber, LinkedIn, InMobi, and Yahoo.

1Bstories’ growth has their investors showering them with praise. One high profile investor, Tom Blomfield, founder of Monzo said “1Bstories has an interesting vision for the future of AI video technology, and I’m thrilled to support their journey. With a talented management team at the helm, I’m excited to see what they do to online storytelling.”

Alongside Tom, was another prominent voice in the AI industry, Caesar Sengupta, Co-Founder & CEO of Arta finance who mentioned “Generative AI is going to transform most industries over the next few years. 1Bstories, with their cutting-edge AI video platform and a management team of industry veterans, is set to revolutionize the way we engage with video content. I’m excited to support their mission and witness their groundbreaking impact.”

Another high-profile investor, Ian Doody, co-founder of Powerhouse Capital also mentioned “Powerhouse is thrilled to partner with Anu Rao and the 1B team. We believe AI has the ability to drive personalized content at scale while delivering a better user experience. 1B’s Vidiofy product is a powerful tool that arms creators with additional capabilities to deliver deeper engagement and relevance with their audiences.  We are excited to support this team on the journey.”

“We believe deeply in 1Bstories and their pioneering product, Vidiofy. The revolutionary AI-powered video tool is destined to redefine the digital publishing landscape by enabling companies to churn out compelling, high-quality videos with unprecedented ease and efficiency. We foresee Vidiofy becoming the gold standard in AI video production, effortlessly bridging the gap between ambition and execution while creating new horizons of engagement and monetization.” said Quentin Reyes, Managing Director of Alpha Praetorian Capital, another VC investor in 1Bstories.

Other investors also include Tim Dattels who served as the Managing Partner for TPG Asia and Partner and Managing Director of Goldman Sachs.

1Bstories is already working with a wide variety of customers across verticals, from mainstream US news publishers to niche digital Australian publications to large telecommunication companies in Indonesia, and even real estate developers in Singapore. With the ability to quickly publish and translate content to over 20 languages, Vidiofy also helps their customers grow their brand internationally as well.

The $5.5 million investment will accelerate product development, expand the team, and drive widespread adoption of Vidiofy in the market.

To learn more about 1Bstories and Vidiofy, please visit www.1bstories.com.

About 1Bstories: 1Bstories is a content technology start-up founded by Anuvrat Rao and other ex-Google employees with over 23 collective years of experience. The company aims to tell 1 billion stories globally with the use of its innovative technologies and products built. With Vidiofy, their flagship product, 1Bstories aims to enable businesses to create engaging videos effortlessly and leverage the power of generative AI technology. For more information, visit www.1bstories.com.

SOURCE 1Bstories

300PPM leads investment in the only proven solution to decarbonize process heat at scale

NEW YORK, July 31, 2023 — Today, GlassPoint, the leader in decarbonizing industrial process heat, closed an $8M series A investment led by 300PPM and joined by former Australian prime minister Malcolm Turnbull, former Alcoa COO Tomas Sigurdsson and several additional industrial leaders. GlassPoint will use the investment to expand operations to help industrial companies decarbonize and meet looming net-zero commitments with the only solution proven to decarbonize industrial process heat at scale.

This is the first investment by 300PPM, which was founded in 2023 to accelerate the path to net-zero by deploying climate infrastructure globally at speed and scale. Howar Talabany, 300PPM founding partner and head of business development, led the investment and will join GlassPoint’s board of directors.

“More than 40% of the Fortune 500 have set net-zero goals as leaders increasingly internalize the business and investor value that accompanies decarbonization,” said Talabany. “They’re also realizing that to deliver on these goals they need to scale viable solutions now. GlassPoint stands out in a sea of innovators as the only solution proven at scale to decarbonize the $444B industrial process heat market. With a robust customer pipeline and impressive executive team, GlassPoint is well positioned to lead essential decarbonization efforts across industries.”

The funding comes on the heels of GlassPoint’s groundbreaking memorandum of understanding with Ma’aden to develop the world’s largest solar process heat plant to convert bauxite into alumina and help Saudi Arabia meet sustainability goals. GlassPoint has deployed more than half of all the solar steam for industry in the world and the company has been reliably producing solar steam for over a decade.

New regulations from the U.S. Securities and Exchange Commission will soon require publicly listed companies to disclose climate-related risks as well as information around direct and indirect carbon emissions, increasing pressure on leaders to develop actionable carbon-reducing strategies. Moreover, a recent Fortune 500 CEO survey found that a strong majority of business leaders believe focusing on climate will help deepen relationships with employees and customers.

“We are seeing strong interest around the world as consumer demand for sustainable goods, soaring ESG goals and the Inflation Reduction Act drive unprecedented investment in carbon-reducing technologies,” said GlassPoint CEO and founder Rod MacGregor. “Every major industrial company is reassessing their supply chain, and GlassPoint provides the most cost-effective option to reduce carbon emissions immediately by delivering renewable heat at the scale they need. We look forward to putting this investment to work to help industrial leaders across the Middle East and North America decarbonize materials essential to the energy transition and combat climate change.”

GlassPoint’s solar steam solution is available for a range of hard-to-abate industries, including mining and metals. The company is accelerating adoption with a steam-as-a-service model that eliminates the need for capital allocation, streamlines customer decision making and reduces business risk.

About GlassPoint
GlassPoint decarbonizes the production of materials essential to the energy transition and makes a substantial impact on combating climate change. The company builds, owns and operates large-scale solar steam facilities to reduce carbon emissions in hard-to-abate industries such as mining and metals, chemicals, construction materials, desalination and more. GlassPoint is the only solution proven at scale to reduce carbon emissions from industrial process heat and has built more than half of the industrial solar steam capacity in the world. Learn more at glasspoint.com.

SOURCE GlassPoint

The report highlights emerging trends that will significantly impact the financial services industry over the next decade

NEW YORK, July 31, 2023 — Deloitte today announced its “2023 Financial Services Industry Predictions” report, which outlines emerging trends across the banking & capital markets, insurance, real estate, and investment management sectors. The report highlights the impact of data and emerging technologies, products and services, and climate change on the future of financial services – and as a result, on society and the economy.

“The reality is that emerging technological changes could be more pervasive and impactful going forward in ways that can be scarcely imagined today,” said Jim Eckenrode, managing director, Deloitte Center for Financial Services. Deloitte Services LP. “Financial services will likely play an important role in helping these breakthroughs emerge to the benefit of us all, while simultaneously opening up new avenues of revenue and profit.”

Some of Deloitte’s predictions for the financial services industry over the next decade:

Generative AI is expected to boost productivity: Generative AI is expected to have a significant impact on the investment banking industry and the financial services industry as a whole, as organizations explore ways to harness the power of the technology to improve productivity. Deloitte predicts the top 14 global investment banks could boost their front-office productivity by an average of 25% by using Generative AI (GAI), thereby earning potentially an additional revenue of $3 million per front-office employee in 2026, from an average of $11.3 million during 2020-22.

Demand for carbon credit offset financing: Deloitte predicts that global consumers will purchase $115 billion of carbon offsets a year by 2030. Carbon credits will likely be embedded in many of the purchasing decisions that consumers make in their day-to-day lives. The surge in demand for these credits could produce new trading networks that offer tailored, localized and niche options for climate change mitigation projects. Banks could be instrumental in developing and supporting the back-end infrastructure that connect brands’ payment processes to the carbon credit market. And banks can play an instrumental role in developing and supporting the carbon credit market.

Insurers prepare for driverless vehicles: Deloitte estimates advancements in self-driving technology may eliminate the need for around 380,000 long-haul truck drivers in the next five years. This alone would have a major impact on workers’ compensation insurers, with a potential loss of around $3 billion worth of premiums. But widespread adoption of autonomous vehicles could also result in a shift in premiums across multiple insurance lines, including commercial auto, product and professional liability, and cyber coverage.

Office space to fill the affordable housing gap: Deloitte predicts office-to-residential conversions could become profitable within the next five years, estimating that around 14,700 affordable units in central business districts across the country can be added by 2030, assuming approximately 20% of converted square footage can be earmarked for affordable housing.

“As financial services firms grapple with what’s on the horizon, they need to think about how the landscape is radically shifting,” said Monica O’Reilly, Vice Chair, US Financial Services Industry Leader, Deloitte & Touche LLP. “Market and economic pressures, emerging technologies, and new revenue opportunities will impact tomorrow’s business strategies, and financial services firms should prepare for that now.”

Additional trends included in the report that are expected to shape the financial services industry:

Democratization of financial advice: Financial advice shouldn’t just be for the wealthy anymore — and it doesn’t have to be. Financial firms can leverage robo-advisory platforms to bring much-needed financial advice to the global mass market and make it profitable. Deloitte estimates net financial wealth held by the mass retail population segment globally to almost double to $22 trillion by 2030.  

Synthetic identity fraud could trigger need for more sophisticated biometric security systems: Synthetic identity fraud—a hoax in which cybercriminals create new identities with some stolen or fabricated data — is the fastest growing financial crime in the United States,ⁱ and it shows no sign of abating. Deloitte expects it to generate at least $25 billion in losses by 2030, prompting banks to develop more advanced biometric security systems to weed out would-be perpetrators.

Higher deposit costs expected to challenge banks: Deloitte predicts the average cost of interest-bearing deposits for the U.S. banking industry in 2024 and 2025 to remain elevated at 1.7% and 1.5%, respectively, even as the fed funds rate declines from the recent peak. This may crimp bank profitability in the medium term.

Real-time B2B payments could take off: Deloitte expects real-time payments could tap an addressable market of $12 trillion in check-based business-to-business (B2B) transaction volume globally by 2028. Banks and payment firms could play a pivotal role in helping usher in a new era of more efficient and instant domestic and cross-border value exchange among businesses.

Rise of embedded insurance: Embedded finance, and particularly embedded insurance, is expected to continue to expand. Execution may not be easy for insurers, though, and it could take the rest of the decade for embedded finance to fully shake out.

Increased spending on quantum computing: Spending on quantum-related capabilities will likely grow quickly over the next few years as indicated by the increased capital investments and patent filings for the hardware technology. Globally, the financial services industry’s spending on quantum computing capabilities is expected to grow 233x from just US$80 million in 2022 to US$19 billion in 2032, growing at a 10-year CAGR of 72%.

Alternative data in investment management: Deloitte estimates the revenue for alternative data providers, earned from all industries globally with the majority coming from investment management firms, to grow 29x between 2022 and 2030. The new data largely consist of novel types and forms of data such as satellite images, social media posts, geolocation data, credit card transactions, and mobile application data that are starkly different from the traditionally structured financial data.

Funding for climate hardtech: An additional US$2 trillion in private hardtech investment is predicted to be needed to help effectively slow global warming. Most of total climate funding will likely need to come from the private sector — but so far, there isn’t enough. Financial services organizations can play a lead role in bridging the funding gap.

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 7,000 private companies. Our people come together for the greater good and work across the industry sectors that drive and shape today’s marketplace — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthier society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Building on more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s more than 415,000 people worldwide connect for impact at www.deloitte.com.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

ⁱFedPayments Improvement, “Synthetic identity fraud,” accessed June 8, 2023.

SOURCE Deloitte

PENSACOLA, Fla., July 28, 2023 — DecoSynth, a trailblazing company in the wall decor industry, is proud to announce the successful completion of a significant venture funding round led by Misfit Capital. This substantial investment marks a major milestone for DecoSynth and positions the company for rapid growth and innovation in the wall decor market.

“We are delighted to have Misfit Capital as our lead investor,” said Gunner Howe, President and CTO of DecoSynth. “Their belief in our vision and commitment to supporting groundbreaking startups aligns perfectly with our goals. This funding will propel us forward, allowing us to enhance our AI technologies, expand our offerings, and deliver unparalleled personalized wall decor solutions to our customers.”

DecoSynth.com, the company’s flagship product, leverages artificial intelligence and cutting-edge printing techniques to empower customers in bringing their artistic visions to life. The platform offers a seamless user experience, enabling individuals of all backgrounds and design expertise to effortlessly create stunning and customized wall decor.

Simply put, DecoSynth allows you to generate AI artwork and print your designs all in the same place.

“Why did we lead this funding round? We believe strongly in the potential of DecoSynth and its disruptive approach to wall decor,” said Cody Mathis, President and CEO of Misfit Capital. “DecoSynth’s innovative use of AI and personalized customer experience aligns perfectly with our investment strategy. We are confident that this partnership will fuel DecoSynth’s growth and establish it as a leader in the market.”

For more information about DecoSynth and its revolutionary AI-powered wall decor solutions, please visit DecoSynth.com.

For more information about Misfit Capital please visit Misfit.money

About DecoSynth:
DecoSynth is an innovative company that is disrupting the wall decor industry through its AI-powered platform. By leveraging cutting-edge technology and a seamless user experience, DecoSynth enables customers to bring their artistic visions to life, offering personalized and high-quality wall decor.

About Misfit Capital: Misfit Capital is a leading venture capital firm specializing in funding groundbreaking startups in the technology and e-commerce sectors. With a focus on supporting innovative companies, Misfit Capital provides strategic guidance and financial backing to fuel their growth and success.

SOURCE DecoSynth

Dr. Sandro Luna Will Use the $100,000 O’Shaughnessy Fellowship Grant to Develop an Application That Measures Vital Signs and Biomarkers Exclusively from Mobile Device Videos

GREENWICH, Conn., July 28, 2023 — O’Shaughnessy Ventures LLC (“OSV”), an investment firm that empowers creators, has awarded an O’Shaughnessy Fellowship to Dr. Sandro Luna.

Luna is the founder and CEO of Maiv Health Inc., which is developing an application that enables anyone to measure clinically important data such as heart rate, blood pressure and oxygen saturation using only their smartphone or mobile device. No sensors or other hardware will be required.

OSV’s founder and CEO, Jim O’Shaughnessy, commented:

“Enabling easily accessible, video-based collection of health information would represent a paradigm shift in healthcare delivery. We’re delighted to be able to support Sandro with his development of this remarkable application.”

Luna said, “I am honored to be a part of this Fellowship program and to have OSV’s support in my mission to provide patients and providers with access to clinically important data wherever they are and using the devices they already own.”

About Luna

Luna is a physician, founder, and health technology researcher who graduated from the M.D. / MBA program at Columbia University and the human biology honors program at Stanford University.

Over the course of his career, Luna has developed non-invasive posture correction software, led multiple research trials in artificial intelligence and telehealth, and produced international films on health and wellness.

He is driven to build health technology that prevents people from becoming patients in the first place.

More about Luna can be found on his LinkedIn page. For more information on Maiv Health Inc., sign up at maivhealth.com.

About the Fellowship Program

OSV launched the Fellowship Program in 2023. It is a one-year program for ambitious people who want to build something great. Fellows receive a $100,000 grant and access to OSV’s network of founders, investors and experts to support them in bringing their projects to life.

OSV will award twelve Fellowships in total. Applications for Fellowships are now closed and will reopen on January 1, 2024. Creators interested in learning more can do so via OSV’s website.

About O’Shaughnessy Ventures

OSV is a creative investment firm that empowers and inspires creators to bring their ideas to life. Founded by Jim O’Shaughnessy, a pioneer in quantitative investing, founder of O’Shaughnessy Asset Management, and author of four books on investing, OSV aims to provide financial support and to partner in growing the next life-changing creative ideas.

OSV combines Jim’s deeply rooted interest in all things art, science, investing, and tech with his long-held desire to establish scenarios designed to help promising creators and their inspiring ideas succeed, regardless of age, location, job history, or level of education. For more information, visit https://www.osv.llc.

Ena Gong
O’Shaughnessy Ventures LLC
(917) 355-7420
[email protected] 

SOURCE O’Shaughnessy Ventures

A standalone program and fund within Stage 2 Capital, the Stage 2 Capital Catalyst brings a hands-on approach to helping young startups build long-term, sustainable revenue engines. It’s backed by go-to-market (GTM) executives from top B2B software companies — like Datadog, Box, Gong, Snowflake, Twilio, Stripe, Tableau, Toast, Databricks, Zapier, WalkMe, Udemy and more — who also get directly involved in mentoring and advising the portfolio.

As part of the Stage 2 Capital Catalyst, companies receive investment and participate in the Catalyst Curriculum, an 11-week program focused on executing the full spectrum of go-to-market, including creating a customer success playbook, hiring the first marketer, creating compensation plans for the sales team, building a defensible moats, etc.

“We couldn’t be more excited to welcome a stellar group of founders to the Catalyst this year,” said Sean Po, Partner at the Stage 2 Capital Catalyst. “Each of our founders brings a unique vision and a keen interest in go-to-market and in repeatable, sustainable scaling which are at the core of what we do.”

David Smith, Co-founder & CEO of MLtwist, said, “As we focus on go-to-market and driving customer renewals, the Stage 2 Capital Catalyst is the perfect fit. We met with Sean and the Stage 2 Capital team and some of their go-to-market LPs, all of whom have been quality professionals with powerful insights. The depth of real go-to-market experience and techniques I can actually use in my business stuck out to me, and is a big reason why we went with Stage 2 Capital. We can’t wait to take our go-to-market execution to the next level.”

The Catalyst Curriculum breaks down Stage 2 Capital’s Science of Scaling methodology into actionable steps for companies to execute in their current contexts. The companies receive training from the Stage 2 Capital team and direct 1:1 implementation coaching from the Catalyst’s GTM executive LPs. Companies also get access to Stage 2 Capital’s proprietary templates and worksheets along with the broader Stage 2 Capital venture network.

“We chose to join Catalyst because the exposure and mentoring provided by a network of go-to-market experts is a key differentiator of the program. Growth planning and execution are critical to any startup’s success. Having meaningful 1:1 conversations with true industry leaders, many of whom have scaled enterprise B2B companies, is a huge benefit and will set us up to hit our milestones successfully.” said Maya Mikhailov, Co-Founder & CEO of SAVVI.AI.

About Stage 2 Capital:
The first go-to-market venture capital firm, Stage 2 Capital combines capital and GTM execution expertise, leveraging its elite LP base of 500+ senior executives from unicorns and Fortune 500 firms to help portfolio companies scale revenue and accelerate growth. Co-founded in 2018 by Jay Po, former investor at Bessemer Venture Partners, and Mark Roberge, founding CRO at HubSpot, Stage 2 Capital invests in B2B software companies between late seed stage and Series A. For more information, visit: http://www.stage2.capital

About the Stage 2 Capital Catalyst:
Designed exclusively around helping B2B software companies accelerate their go-to-market, the Stage 2 Capital Catalyst invests in and trains seed-stage founders on the tactics of go-to-market to build a revenue engine that drives sustainable revenue growth. For more information, visit: https://www.stage2.capital/catalyst

SOURCE Stage 2 Capital

Key Takeaways

• Footwork led the round; additional investors include Emerson Collective, Altman Capital, Gaingels, and a select group of angels.
• ReflexAI tools reduce training and quality assurance costs by over 50% for high-stakes call centers in industries including crisis response, 911 dispatch, and healthcare.
• ReflexAI previously announced a $1.25M partnership with Google.org as well as a $1.25M award from the Department of Veterans Affairs.

NEW YORK, July 27, 2023 — ReflexAI, the provider of AI-powered training and quality assurance tools for high-stakes call centers, today announced its first round of venture funding. Led by Footwork, the $3.3M oversubscribed round included Emerson Collective, Alt Capital, Gaingels, and angel investors with expertise across healthcare and technology innovation.

The cost of training and quality assurance for an individual phone responder can exceed $5,000 per year for high-stakes call centers in industries such as crisis response, 911 dispatch, and healthcare. Due to high turnover and a shortage of workers, a call center can spend hundreds of thousands (or millions) of dollars annually in these areas. In existing operations without ReflexAI, leaders often contend with significant operational complexities and unreliable data.

ReflexAI provides training and quality assurance tools for these centers, reducing costs by 50% while improving quality and outcomes. The dynamic, AI-powered training simulations are comparable to the use of flight simulators in pilot training. The customizable quality assurance tools enable 100% coverage across calls while providing feedback to responders for continuous improvement.

“We’re thrilled to announce our seed round, which represents not just a vote of confidence in ReflexAI, but also in the opportunity to support these mission-critical operations,” said Sam Dorison, Cofounder and CEO at ReflexAI. “We’ve seen first-hand how this technology can reduce costs by over 50% while improving measurable outcomes. We believe that every operation deserves access to these tools.”

ReflexAI focuses specifically on high-stakes call centers and their priorities. As a result, the organization invests heavily in areas such as data security, AI ethics, and clinical excellence. 100% of ReflexAI employees undergo both cybersecurity and AI ethics training. And the organization works closely with independent advisors who are recognized leaders in clinical best practices and responsible artificial intelligence.

“Building for our target customers, we’re laser-focused on their specific needs and expectations,” said John Callery, Cofounder and Chief Product & Technology Officer at ReflexAI. “Our unique commitment is evident in the way our tools are designed, developed, and deployed.”

ReflexAI’s cofounders were previously executives at The Trevor Project, where they led the development of this technology. Their work was recognized on TIME’s “100 Best Inventions of 2021” and highlighted in MIT Technology Review.

“It’s rare to find a team that is so connected to the customer problem and has already demonstrated the impact of their technology as a solution,” said Nikhil Basu Trivedi, general partner at Footwork. “We’re excited to be part of ReflexAI’s journey from such an early stage.”

Since launching in 2022, ReflexAI has seen significant interest in their tools from crisis lines, healthcare systems, digital and behavioral health, and emergency dispatch. The organization is currently building a training tool for military veterans, which includes three AI-powered simulations. And the organization was recognized as top-5 winner out of 1,200 proposals in Mission Daybreak, the U.S. Department of Veterans Affairs’ innovation challenge.

“From the moment we met with Sam and John, it was clear that they inspire a sense of trust,” said Fern Mandelbaum, Managing Director at Emerson Collective. “ReflexAI has the vision and credibility to succeed in industries that save lives every day.”

About ReflexAI
ReflexAI provides training and quality assurance tools for contact center operations across crisis response, emergency dispatch, and healthcare. Our training simulations accelerate and improve agent preparation while reducing manual training costs by 50%. Our quality assurance tools enable 100% coverage, reducing costs while providing actionable insights to improve performance.

Responsible innovation
ReflexAI meets the highest ethical standards in the development and deployment of its products. Investments include extensive user research and product development anchored in user-centric design. The organization also works with independent experts including ethicists and clinicians at all stages of the product development cycle.

For more information, please contact: [email protected]

Related Links:
www.reflexai.com/
www.linkedin.com/company/reflexai/ 

SOURCE ReflexAI