Unitea’s approach to the next generation of engagement for fans, artists, and brands delivers in terms of real-world value via rewards and digital tools to enhance real life experiences

MIAMI, May 16, 2023 — Unitea, the only engage-to-earn music platform built to deepen connections between artists, brands, and fans, today announced a seed round of $7M, led by 1st Class Guernsey, Chaos Capital, TokenSociety, and Fuel Venture Capital. Boasting a board of directors featuring industry titans like Pitbull (Armando Perez) and Claude VonStroke (Barclay Crenshaw), Unitea’s unique platform is innovating the way fans engage digitally within the music industry. By way of an in-app economy, Unitea encourages users to create content with music and branded filters from their favorite artists to earn rewards, creating actionable data for artists and brands and deepening their connections with fans. In the time since the pre-seed round started in 2020 Unitea has accomplished over 2,000 reward activations. Now that the round is closed, Unitea will leverage funds raised to further expand the capabilities of their platform within the music industry and beyond.

Though investments in this type of engage-to-earn technology continue to climb, realizing tangible value has continued to be a challenge across industries. Unitea has created engage to earn platforms in partnership with Procter & Gamble, while also activating through the Unitea App with 42 music festivals including Breakaway, Gem & Jam, and Dirtybird Campout, all while keeping centralized around the technology driving their engage-to-earn model. Unitea fans share music and create content to earn digital tokens called Karma that can be redeemed for exclusive rewards, from custom digital assets to concert tickets and artist meet and greets. The tangible value of rewards drives authentic engagement, which in turn delivers valuable data around fan interactions to artists and brands using the app. Ultimately, this creates a continuous cycle of authentic connections, rewards, and relationships that is poised to fundamentally change the way consumers interact with their favorite artists. By providing reward mechanisms both in the digital and physical space, collaboration with festivals provides a win-win scenario, giving users on the platform unique access to exclusive opportunities at events while also giving festival promoters and performing artists a new audience to reach out to.

“We’ve cracked the code on deriving meaningful benefits through engage-to-earn within the music space. Unitea gives digital assets real purpose across the engagement cycle, empowering artists and brands to cultivate and grow a passionate fan base organically,” said Ketan Rahangdale, CEO of Unitea. “With the support of our investors, Unitea is primed to make fan engagement more authentic, in a way that benefits everybody in the ecosystem. Whether it’s a musician, an artist, or a popular brand, Unitea makes it possible to gamify the engagement process and provide value across the board.”

Unitea’s unique technology has taken a foothold in the music industry and investors have noticed the incredible value that can be derived from organic engagement data. With 12 investors in total participating in the seed rounds, both from traditional venture capital firms and staples in the music industry, continual investment in the platform has been paralleled with validations as to its future potential.

“The unique combination of digital and real-world incentives for fans, along with a rewarding social network, has primed Unitea to take over the music industry. Today’s fans are looking for a different level of interaction from the brands they love, and this technology finally makes that possible,” said Simon Nicholls, Chairman of 1st Class Guernsey. “The level of engagement data collection that is possible with Unitea’s platform is incredibly enticing, and we’re excited to be a part of this movement as it grows.”

The music industry is about to undergo a revolution led by those who matter most, the fans and the artists, and Unitea is ready to lead the charge. In the future, Unitea looks forward to acting as a utility and community building platform for Web3 music collectives such as Dirtybird Flight Club, Dippies and Gay Aliens Society. To learn more, please visit: https://unitea.com/.

About Unitea
Unitea is an engage-to-earn platform that deepens connections between artists and their fans while giving brands access to invaluable advertising opportunities that enhance the end-user experience. The app incentivizes music fans to support their favorite artists in exchange for blockchain- authenticated rewards while providing a platform built for meaningful connection and artist innovation. Unitea believes that data and relationships belong to the people who build them, and developed the Karma Economy ecosystem to help creators regain control of their audience insights. Fans are incentivized to share their data as a way to earn Karma, while Unitea’s transparent data policy encourages ethical data use. Brands use that data in advertising, and artists can also access the data for invaluable insights into their fanbase.

SOURCE Unitea

ATMORE, Ala., May 16, 2023 — UB Community Development, LLC (UBCD), a community development partner of United Bank, announced that it provided $6 million in New Markets Tax Credit (NMTC) allocations toward construction of a new 77,376-square-foot facility at the University Charter School located in Livingston, Alabama.

Dr. JJ Wedgworth, Head of School of University Charter School, stated, “UCS is honored to be able to partner with UB Community Development, LLC, on our new facility project as we grow our impact in Sumter County. We are extremely grateful to have a beautiful new state-of-the-art facility to house our students and support the greater needs of the Sumter County community. With the allocation of tax credits from UB Community Development, LLC, it allows us to expand, offer new programs and customize our space to create learning environments that best match student needs.”

The new facility will provide twenty-six general instruction classrooms, all designed to be flexible in nature and positioned to take advantage of adjacent shared collaboration areas. Offices, conference rooms, areas for student and teacher resources as well as private counselors’ areas, a nurse’s station, a gymnasium and a 200 to 250-seat cafeteria will be included. The cafeteria is positioned to take advantage of an outdoor learning space to accommodate a farm to table educational garden.

Alex Jones, President of UB Community Development, LLC, stated, “Supporting an educational project of this caliber is core to who we are at UBCD. I am not sure today we can even begin to fully grasp the long-term impact this school will have on this community and its children. UBCD was excited to help play a small role in the project.”

University Charter School was established in 2018 and is located on the campus of the University of West Alabama. It offers Pre-K through Twelfth grade. The new facility will allow UCS to increase its enrollment from 605 to 815 students. UCS prepares students for college, career, and life through personalized learning plans and project-based learning. Its curriculum is based on a rigorous and integrated Science, Technology, Reading, Engineering, Arts, and Mathematics (STREAM) focus.

About UB Community Development
UB Community Development’s strong history and experience in New Markets Tax Credit transactions, coupled with our passion for improving the communities around us, make UBCD Alabama’s premier financial partner for economic and community development. Through our NMTC projects, Community Facilities Lending Program and Community Housing Capital Fund, UBCD is working with community development partners in the fields of healthcare, education, manufacturing, public works, affordable housing and more. For more information about UB Community Development, visit our website at www.UBCommunityDevelopment.com.

SOURCE United Bancorporation

NEW YORK, May 16, 2023 — Northwind Group, a Manhattan-based real estate debt fund manager and private equity firm, today announced that it provided a $100 million senior A-Note as part of a $207 million senior lease-hold mortgage. The loan was secured by the Hudson Hotel, a 24-story, former 878-key hotel which is being converted into 441 multifamily units and 51,474 square feet of retail space. The property is located on 58^th street between 8^th and 9^th Avenue in the heart of the Columbus Circle submarket of Manhattan. The property was acquired by a repeat borrower of Northwind Group and was originally capitalized by Montgomery Street Partners as the fee holder and Parkview Financial who provided a leasehold mortgage in 2022.

This loan is being provided by Northwind Group as part of its recently launched A-Note financing product, a vehicle that is targeted to provide the most senior tranche of the capital stack on real estate transactions. This pool of capital can be provided as an A-Note or Loan-on-Loan and will be available for all major asset types across the country, with a major focus on residential transactions, with loan size of $50 million and above.

Northwind Group provided the A-Note with flexible terms, which will provide the owner and existing lender with the required capital to complete the conversion project. Northwind Group remains committed to lending in New York City and is actively providing capital to quality borrowers with well-located assets.

“Northwind Group is excited to provide our A-Note loan, as we recognize a big gap in the market for financing due to commercial banks stepping back from regulatory and macro issues,” said Ran Eliasaf, founder and managing partner of Northwind Group. “We are pleased to work with experienced sponsors and financing counter parties like Parkview Financial and Montgomery Street Partners to deliver much-needed rental units due to the significant shortage of new rental products in Manhattan. We look forward to also continuing to provide senior financing to other lenders.”

About Northwind Group
Northwind Group, founded in 2008 by Ran Eliasaf, is a Manhattan based real estate private equity firm with $3 billion in AUM that invests primarily in debt instruments through its discretionary closed-ended debt funds. For further information, go to www.northwind-group.com.

About Parkview Financial
Parkview Financial is a direct private lender specializing in ground-up commercial and residential real estate financing. Through a private real estate debt fund, Parkview provides short-term bridge and construction loans secured by first trust deeds to developers throughout the United States.

About Montgomery Street Partners
Real estate investment firm that makes controlling and non-controlling investments in real estate assets, general partner positions, and real estate operating companies. MSP invests across all real estate product types and across domestic geographies.

SOURCE Northwind Group

Golden Gate Ventures makes its 6th AI investment as Startups and Enterprises turn to AI within their organizations

SINGAPORE, May 15, 2023 — Golden Gate Ventures, a venture capital fund in Southeast Asia (SEA) founded by Silicon Valley natives, has injected a second round of investment into Locofy.ai, a platform that converts graphic designs into working code with AI. Other investors joined the round, including experienced SME technopreneurs from Dropbox, Lottiefiles and Zopim. The US$4.25m investment is one of SEA’s largest pre-seed rounds into an AI startup.

Golden Gate Ventures first spotted Locofy.ai’s potential early on, identifying the startup’s ability to tap into the ever-growing low-code platform market and participating in Locofy.ai’s first institutional investment round in 2021.

“The early-stage investment scene is all about identifying trends ahead of an inflection point, and to be the first in: the first institutional investor into the startup, at the right time. Our investments into the AI space pre-date the buzz around ChatGPT. Being FirstIN enables us to help founders ahead of anyone else and yields higher returns for our investors,” said Vinnie Lauria, Founding Partner at Golden Gate Ventures.

Off the back of the firm’s FirstIN strategy is a long list of successes including, Rukita, Bukuwarung, Homage, Vui and Multiplier – where Golden Gate Ventures was the first institutional investor and has continued to support the startups across multiple funding rounds.   

What informs the firm’s early investment strategy is the combination of the partners’ SEA and Silicon Valley experience, coupled with Golden Gate Ventures’ Brain – our data-driven market predictions platform based on data and insights the firm has amassed over a decade.

“We’ve used data to identify niche opportunities in the AI space.  Golden Gate Ventures’ Brain platform is designed to mine data points across markets, industries and changing economic conditions, uncovering unexpected patterns that our partners leverage to identify specific types of startups that we proactively search for in the market,” said Jeffrey Paine, Founding Partner at Golden Gate Ventures.

“Based on our Golden Gate Ventures’ Brain platform and partners’ insights, we started investing in AI startups over five years ago when most of the market was skeptical about their return-on-investment. AI is going to dramatically transform go-to-market strategies and accelerate e-commerce development at an exponential rate. We will see an unrivalled rate of innovation, which coincides perfectly with the rising consumer class across SEA’s fast-growing economies,” Vinnie Lauria adds.

Locofy.ai is one of several strategic AI investments Golden Gate Ventures has made even before the AI fever caught on in the region.

“Low-code presents a huge opportunity as more people outside of IT leverage its vast potential and it becomes more ubiquitous. Locofy-ai has a strong first-mover advantage with a huge global user base that is continuously helping to improve the platform. The cross-section of users encompassing developers, enterprises, startups, freelancers and student communities already demonstrates its stickiness and ability to integrate seamlessly with other tools,” said Justin Hall, Partner at Golden Gate Ventures.

Locofy.ai is a low-code development tool in public beta, which assists developers worldwide in building and managing their frontend at speed. It accelerates web and mobile app development by 5 – 10 times with its design-to-code conversion platform that helps designers automate frontend code directly from their designs and extend into existing workflows. It currently converts Figma and Adobe XD designs into React, React Native, HTML-CSS, Gatsby and Next.js code with AI.

Its latest round of funding, which brings Locofy.ai’s total to $7.3m raised since its incorporation in 2021, will accelerate the startup’s plans to simplify the design to code conversion significantly with AI, while adding more integrations to the platform to seamlessly fit in the workflows. With recent integrations with Storybook, Github, Netlify, Vercel and Snack, Locofy.ai bridges the chasm between designers and developers, enabling developers to iterate designs and code more naturally. 

In addition to securing this latest round of funding, Locofy.ai has made strategic hires to support its ambitious development plans. Tien Nguyen, ex-CTO at Wego and Teko, will be joining as Vice President of Engineering; leading data scientist, ex-Founder of SWAT and AI advisor to top startups, Nick Jachowski, will be joining as Head of AI; and Nguyen Kien, ex-Director of Engineering at TIKI, will be taking on the role of Head of Engineering. 

About Golden Gate Ventures

Golden Gate Ventures is a global venture capital firm powering technology and innovation from Southeast Asia. Founded in 2011, Golden Gate Ventures combines the knowledge and experience of Silicon Valley with the passion and dynamism of Southeast Asia. For over a decade we’ve proudly backed some of the region’s most audacious founders and companies behind Southeast Asia’s incredible growth story, such as Carousell, Coda Payments, Carro, Xendit, Paper.id, Alodokter, Homage, Hijra, Rukita, and Locofy. We empower the audacious. For more information, visit goldengate.vc.

SOURCE Golden Gate Ventures

NANJING, China, May 15, 2023 — 15th May 2023, automotive system software provider AutoCore.ai announces the completion of A+ round fundraising led by Bosch Ventures and BoYuan Capital, joined by existing shareholder GL Ventures.

We are witnessing an era represented by automotive chips powered with complex and advanced computing capabilities, as well as the multifold growth of intelligent sensors. The massive amount of data has brought about exponential growth and challenges in data transmission, scheduling and management. Automotive middleware will become the fundamental must-have software for intelligent vehicle development, with its market potential reaching tens of billions of dollars in the medium and long term.

Along with the explosive growth of the market, AutoCore.ai, established in 2018, has rapidly developed into a global automotive software platform-oriented enterprise, based on the self-developed AutoCore.OS platform, providing middleware, system software products, algorithm and application software licensing services with SOA oriented architecture across entire vehicle.

AutoCore.ai has created a complete and unified in-vehicle data platform for OEMs to achieve system-level functional performance, safety and security with guarantees for real-time, deterministic and secure communication, transmission, scheduling and planning of data across all vehicle domains, supporting different EE architecture. As a global leader in providing advanced automotive infrastructure software products and services, AutoCore.ai has witnessed its significant growth each year in terms of team, product maturity, engineering capabilities, tools, and customer base.

AutoCore.ai is the first middleware supplier in the world to have its full-stack software products certified to ISO 26262 ASIL-D, the highest functional safety level, currently adopted by many leading OEMs and Tier1s in their mass production programs around the world. AutoCore.ai is also a chosen strategic partner by several mainstream chip manufacturers.

It is reported that the lead investors of this round, Bosch Ventures and BoYuan Capital, are both investment funds of the Bosch Group,  a global leader of automotive electrical and electronic architecture. Bosch Group is the main initiator and supporter of Autosar standard, the world’s largest automotive Tier1 system integrator, and has irreplaceable influence across the automotive industry supply chain. AutoCore.ai will work with Bosch Group to explore new technologies and products, work together to respond to the rapidly changing needs of the global automotive industry on a larger scale and at a faster pace.

This strategic investment marks the next step growth of its core alliance AutoCore.ai has been able to build globally. The alliance with Bosch represents the new generation EEA solution moves into a mature and mass production stage, enabling global OEMs. Bosch group believes that AutoCore.ai will also strategically benefit from Bosch’s strong network and communities for the Software-defined vehicle by leveraging collaboration opportunities with its entities and partners.

“We believe that AutoCore.ai will represent China’s outstanding innovative enterprises and become a sought-after specialist in the international automotive supply chain”, says Dr. Ingo Ramesohl, Managing Director of Bosch Ventures.

Dr. Hongquan Jiang, Managing Partner and Chairman of BoYuan Capital, said: “Along with the change of the whole vehicle EE architecture, the new generation of software and hardware solutions for the automotive industry are accelerating into the scale deployment stage. With the completion of this round of strategic investment, AutoCore.ai and the Bosch Group will cooperate in depth at both capital and business levels, jointly building an innovative model based in China for the world. We believe that AutoCore.ai will represent outstanding Chinese innovative companies and become a leading international core technology supplier for next generation automotive supply chain.”

GL Ventures partner Qiang Li says, “GL Ventures has been supporting AutoCore.ai since Pre-A, this is our third consecutive investment into AutoCore”. AutoCore.ai team has demonstrated outstanding capabilities in product development, market penetration as well as accumulation of abundant industry know-how in very short period of time. It has already produced many robust products, first of their kinds in the industry. Safe, high performance and high reliable middleware is one of the key areas of volume intelligent mobility. We are delighted to witness the exciting adoption from OEMs, Tier1s and other partners of AutoCore.ai’s product and technology. We trust that under Dr. Yang Zhang’s leadership, AutoCore.ai will continue to deliver critical value to its customer base, playing an important role in this wave of intelligent automotive evolution.

Dr. Yang Zhang, Founder and Chairman of AutoCore.ai, says “We are thrilled that our hard work and unwavering dedication being recognised by our wide customer base, glad that Bosch choose to be part of the journey. We expect close collaboration between us in global arena. We would also like to take this opportunity to thank all of AutoCore.ai’s shareholders. We wouldn’t be here without their commitment and support.”

SOURCE AutoCore Technology(Nanjing) Co., Ltd.

Company’s advanced generative AI-powered cloud platform creates clarity around healthcare pricing, coverage for consumers, employers, government agencies, hospitals, insurance companies and other businesses in the healthcare industry

SEATTLE, May 15, 2023 — Cascade Health, an intelligent platform for healthcare transparency, announced it has raised $1.7 million in venture funding led by AlleyCorp with participation from other strategic angel investors. The company also announced the launch of its first two products: a generative AI assistant to personalize the consumer experience with full visibility around cost and quality of care, as well as APIs that allow companies in the healthcare industry to access data on demand and use it to build their own internal and external products.

As healthcare costs have continued to rise in the US, the system has also grown more complex and increasingly opaque. In an effort to counter this, the US government has recently mandated that hospitals and insurance companies publicly disclose pricing data for procedures across the country. Both parties have done so, but in massive files that can’t be opened or used without substantial computing power.

Cascade Health leverages cloud and AI to aggregate these datasets, along with other public and private healthcare data, to help employers, consumers, government agencies, hospitals, insurance companies and other healthcare-related businesses better understand pricing and coverage. It is the only company that can transform these datasets along with client-specific data and use large language models to interact with the combined data to optimize decision-making in real-time to personalize the experience for anyone seeking or giving care.

“We want Cascade Health to become the infrastructure for healthcare transparency – an objective, neutral source for healthcare pricing and coverage,” said Ana-Maria Constantin, Cascade Health’s CEO and co-founder. “Our intelligent platform provides a window into all this that allows anyone on any side of the healthcare system to make data-driven decisions about the care they receive or deliver.”

The core of Cascade Health’s intelligent platform is a proprietary massive-scale cloud computing infrastructure which works alongside machine learning models and AI to help find, sort and transform massive amounts of healthcare data needed to provide transparency into healthcare pricing and coverage.

Cascade Health’s generative AI assistant lets consumers ask about coverage options, pricing for different procedures and regions, and more, then uses Cascade Health’s platform to deliver data-driven answers to those questions in plain English. The company also provides data management and warehousing infrastructure so customers can benefit from using it without having to worry about storing data.

Before founding Cascade Health, Constantin and co-founder Pulak Goyal spent six years at Microsoft building large-scale cloud systems that used machine learning to make intelligent, data-driven decisions for efficient resource utilization.

“Complexity and opacity are both endemic in the American healthcare system. It’s nearly impossible for stakeholders to make truly informed decisions, whether it’s about individual or group coverage, or how to most efficiently deliver and pay for care,” said Jane Suh, Principal at AlleyCorp. “We invested in Cascade Health because the team’s background and knowledge base perfectly aligns with their mission to bring clarity and access to an essential part of healthcare decision-making.”

About Cascade Health
Cascade Health is an intelligent platform for healthcare transparency. Its intelligent platform is the first to deliver specific data-driven insights that allow consumers, employers buying group insurance plans, government agencies, hospitals, insurance companies to make informed strategic decisions, creating a more affordable and equitable healthcare system for all. Cascade Health is based in Seattle and backed by AlleyCorp and other strategic angels.

About AlleyCorp
Founded by serial entrepreneur Kevin Ryan, AlleyCorp is a New York-based venture capital firm that founds and invests in transformative companies across dedicated verticals for Diversified Technology, Healthcare, Robotics, and Social Impact. Companies incubated by AlleyCorp include MongoDB, Gilt Groupe, Business Insider, Zola, Nomad Health, Pearl Health, and Transcend Therapeutics. In addition to founding companies, AlleyCorp actively invests across pre-seed, seed, and Series A. For more information, please visit www.alleycorp.com.

CONTACT:
Corey Lewis
corey(at)broadleafcomms.com

SOURCE Cascade Health

NEW YORK, May 15, 2023 — Chord, a Commerce Platform Software as a Service for modern commerce, announced that its SaaS headless commerce technology and data infrastructure has been recognized as an honoree in The Leading 100 of 2023.

The Leading 100 List recognizes high impact technology start-ups that are transforming the direct-to-consumer business model and driving business value for brands as well as retailers. These young companies are venture capital funded and predominantly in their seed or series A round of financing. The Leading 100 companies are solving business problems, powering growth and helping brands deliver on customer expectations through innovative, accessible and powerful technology solutions. All companies were vetted and selected using a rigorous methodology which measured Innovation, Business Impact, Commercialization & Customers, Teams & Experience, Competition, Media Buzz and Investor Value Creation. Company data has been collected via a combination of CEO interviews, company nomination data, and publically available market data.

“I am absolutely thrilled and deeply honoured to have Chord recognized by The Lead this year. Being in the company of such dynamic startups is a testament to the hard work and dedication of our team, and it reinforces our commitment to empowering businesses to take full control of their storefronts while using data to make powerful connections with their customers.” said Bryan Mahoney, CEO & Co-Founder of Chord. “At Chord Commerce, we believe that the future of commerce lies in the ability of brands to create personalized and seamless experiences for their customers, and we are proud to be leading the charge in this endeavour. This recognition fuels our passion and inspires us to continue pushing the boundaries of what’s possible in the world of Brand-to-Consumer commerce.”

David Dewey, CTO of Chord, said “It feels great to be recognized by The Lead.  When we embarked on the journey to provide clean, curated, and real-world actionable data to commercial operators, we knew we were taking on a very daunting task.  This recognition shows that we’re finally delivering to the world what is actually needed for businesses to be competitive online in the modern era.  I can’t wait to share some of the upcoming innovations that will continue to empower businesses to get a clear picture of their operations and clear steps to improve with measurable results.”

The selection committee, led by The Lead’s Chief Content Officer, Sonal Gandhi, conducted an  analysis and the final selection.  “The pace of change in the fashion, beauty and consumer industries has become dizzyingly fast, even for the industry leaders,” says Gandhi. “The companies selected for The Leading 100 list represent some of the best examples of how technology innovation is helping address the needs of this rapidly evolving business environment. Some are helping brands get the best out of latest advances in powerful technologies such as AI,  while others are creating solutions to optimize efficiency and productivity across the value chain”.

Chord will be in attendance and honored at The Lead Innovation Summit on July 12th & 13th, The Lead’s flagship event where the entire fashion, beauty, home,CPG, food, beverage, health, wellness and retail innovation community will converge to engage the future of the direct-to-consumer business model. The annual event will bring together executives from enterprise brands and retailers, challenger DTC brands, innovative unicorns, technology start-ups, enterprise technology, investors, dealmakers, analysts and stakeholders that comprise The Lead’s network.

About Chord

Chord is a Commerce Platform Software as a Service that combines headless technology and cutting-edge data infrastructure, enabling brands to leverage the most sophisticated commerce tech at lightning speed — and with a lean team.

Led by former Glossier and Mailchimp C-level execs, Chord is the only commerce platform with data at its core, and counts standout brands like Caraway and Blue Bottle Coffee among its customers.

About The Lead

The Lead is a media and events company that helps brands compete in an increasingly digital and direct selling environment by introducing future business trends, presenting winning strategies, and connecting them with the right technologies. Unlike conferences and information outlets that focus either on big retail or just a single stakeholder, The Lead showcases actionable insights across marketing, ecommerce, stores, customer experience and last mile for brands selling direct.

CONTACT: [email protected]

SOURCE Chord

NANJING, China, May 15, 2023 — Recently, ChomiX Biotech Co., Ltd. (hereinafter referred to as ChomiX), a leading biotechnology company focusing on the preclinical development of innovative small molecule drugs, announced the completion of millions of dollars Pre-A+ Financing by TigerYeah Capital,old shareholder Tsinghua Innovation Ventures, and Morning Spring Venture. The proceeds will be used to further develop ChomiX’s chemoproteomics platforms, expand covalent compound libraries, and initiate several screening projects against traditionally undruggable targets.

Currently, most drug discovery technologies rely on purified proteins, which greatly limits the efficiency of drug development, resulting in about 90% of disease-related targets being “undruggable”. The ChomiX chemoproteomics technologies have revolutionized drug discovery from purified proteins to living cells.

• The DIA-ABPP platform enables the discovery of novel binding pockets and ligands for endogenous proteins in living cells, especially undruggable targets that lack structural research. Now the platform has covered more than 10,000 proteins and 40,000 binding sites.
• The TED-ChomiX platform can identify the direct protein interactions for biologically active molecules in disease-related cells or tissues, and has been widely used in drug target discovery, new mechanism deconvolution and off-target protein profiling.

ChomiX will be based on the cutting-edge interdisciplinary field of chemical biology and promote the drug discovery application of chemical proteomics technology with the value of focusing on innovation.

Nan Chen Ph.D., CEO and founder of ChomiX :

We are very honored to collaborate with TigerYeah Capital, Tsinghua Innovation Venture, and Morning Spring Venture in this financing round. ChomiX is a biotechnology company with the leading chemical proteomics technologies. Our co-founder and chief scientist, Prof. Chu Wang at Peking University, pioneered chemical proteomics research in China since 2013.

Through in-depth collaboration with academic research groups, ChomiX has established two technology platforms: DIA-ABPP for high throughput discovery of covalent binders and TED-ChomiX for proteome-wide profiling of drug-binding proteins. Up to now, we have established long-term cooperative relationships with hundreds of research institutes and more than ten biopharmaceutical companies in the field of preclinical small molecule drug R&D. This financing, along with series pre-A announced last year, will significantly strengthen our capacity. Meanwhile, I will sincerely thank all partners and employees of ChomiX for their support and perseverance. By leveraging these cutting-edge chemical proteomics technologies, we could provide more solutions for undruggable targets, which will contribute to the development of more drugs that benefit patients.

About ChomiX:

ChomiX Biotech Co., Ltd. is a leading biotechnology company focusing on the preclinical development of innovative small molecule drugs. With chemoproteomics as the core technology, ChomiX is engaged in the discovery of novel lead compounds and protein targets in living cells. Officially operated in 2021, ChomiX has established multiple intersecting platforms, including chemical biology, bioinformatics, medicinal chemistry, molecular and cell biology, etc. Now ChomiX has been authorized numbers of chemoproteomics related patents and built a laboratory with a variety of advanced instruments. ChomiX has partnered with many innovative small molecule drug R&D companies, including PharmaBlock Sciences (Nanjing), Inc. (SZSE:300725), and hundreds of research institutes. ChomiX is committed to quickly breaking through the barriers of undruggable targets and accelerating the discovery of innovative small molecule drugs.

About TigerYeah Capital:

Founded in 2014, TigerYeah Capital is an independent venture capital under Tigermed. TigerYeah Capital focuses on equity investment in the early and growth stage of the medical and health field. The management team has a profound industrial background, extensive industry resources and rich investment experience. So far, it has completed ~300 million dollars and more than 100 investment projects. The investment portfolio covers medical devices, biomedicine, CRO, and health food. TigerYeah Capital creates value for the development of the medical and health industry in China and even the world by empowering the invested companies, and contributes to public health.

About Tsinghua Innovation Ventures:

Tsinghua Innovation Ventures is a professional investment institution for the industrialization of scientific and technological achievements under Beijing Tsinghua Industrial Development Research Institute (referred to as “ITRI”). Methods and professional management promote the transformation of major scientific and technological achievements of Tsinghua University. Investment cases include Pinchi Medical, a unicorn company in the field of neuromodulation in China, Yihuatong, a leader in China’s hydrogen energy industry, Huazhuo Jingke, an integrated circuit ultra-precision equipment manufacturing company, as well as Daqing Biology, Jietong Huasheng, and Langshi Instruments , Tianzhihang, Shenli Technology, Sino United and a group of outstanding enterprises.

About Morning Spring Venture:

Hangzhou Morning Spring Venture is a venture capital institution focusing on early life science investment. The company focuses on life science and medical technology investments that are cutting-edge in the world with unmet clinical needs and high barriers. Morning Spring Venture’s management team comes from first-line VC funds, multinational pharmaceutical companies, and CRO companies. The investment team has rich academic background, investment experience, industrial resources, and commercialization experience.

Cooperation：

Twitter：biotechcho14599
Websites：https://www.chomixbio.com/

SOURCE ChomiX Biotech Co., Ltd.

DUBLIN, May 15, 2023 — The “United States Venture Capital Market- Growth, Trends, Covid-19 Impact, and Forecasts (2023 – 2028)” report has been added to  ResearchAndMarkets.com’s offering.

COVID-19 slashed the number of VC rounds in the U.S. by 44 percent. Over the course of pandemic, only 541 VC deals were made in the seed to Series B stages, compared with 964 deals in the same period in 2019 – a 44 percent decrease in deals.

The change varies across investment types, having the biggest impact on seed-stage deals, which dropped by 57 percent, down from 483 deals in 2019 within the three month time period, to 209 deals in the March-June 2020 period.

The number of VC-backed deals in the travel tech industry has decreased dramatically, down 400 percent, from 15 seed to Series B deals during March-June 2019 to three deals March-June 2020. The check size of travel tech companies has been massively hit. VC-backed Series A check sizes in the sector have dropped 84 percent, from $14.68 million in 2019 to $2.3 million in 2020.

VC fundraising showed continued strength in 2020, with the annual total surpassing 2018’s record. Fourteen US venture capital mega-funds of $1 billion or more claimed almost $27 billion as of Dec.

The number of US VC mega-rounds of $100 million or more has jumped to 306 so far this year, comfortably surpassing 2019’s total of 244. the total mega-round haul came to just over $68 billion, with Alphabet-owned Waymo taking the crown for the single largest deal at $3 billion. Additionally, the period saw the crowning of 87 unicorns in the US, also a decade high.

Companies Mentioned

• Intel Capital
• Tiger Global Management
• Bessemer Venture
• Kleiner Perkins
• New Enterprise Associates (NEA)
• Accel Partners
• Sequoia Capital
• Khosla Ventures

US Venture Capital Market Trends

Healthtech trends toward record-breaking year

At the intersection of health care and technology, health tech innovators have a unique place in the Future of Health. Investors, especially CVCs, can support the innovators and the industry in general. Innovators could bring transformative business models and a consumer-centric approach. it is imperative for investors, including industry incumbents, to coach innovators and support them with industry and regulatory expertise, in addition to capital, to accelerate toward the Future of Health together.

Growth in venture capital funding for health tech innovators, at record levels in 2020, will likely continue unabated in 2021. In 2020, venture funding for health tech innovators crossed a record breaking revenue. Even as the economy and industries, including the health care industry, reel under the impact of the COVID-19 pandemic, venture funding for these innovators nearly doubled in 2020, compared to 2019.

Growth in Female-Founded Startups Drive the Venture Capital Market

With recent progress, companies founded solely by women garnered only 2.3 percent of the total capital invested in venture-backed startups in the US. Recent studies found that for every dollar of funding, Female-founded startups generated 78 cents, whereas male-founded startups generated only 31 cents.

It has been a big year for women in VC. Female-founded companies such as Glossier and Rent the Runway picked up mega-rounds in 1H and helped move the needle to roughly $1.9 billion in capital investment toward female-founded companies.

The Bay Area has attracted more venture capital for female-founded companies since 2006, other metro areas have gained traction in recent years. VC-backed companies play an increasingly important role in the U.S. economy. Over the past 20 years, these companies have been a prime driver of both economic growth and private sector employment.

But American startups founded solely by female founders raised a large revenue in 2020, down only a billion dollars from in 2019 – the peak year for funding to sole female founders. 140 new women-led investment funds launched in the past four years, more than doubling the number that existed before 2017. Majority of the women partners in a survey said they had started their own firm. These emerging managers, as the VC industry calls new fund managers, are investing from small first funds and are heavily focused on seed- and early-stage deals.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS AND DYNAMICS

4.1 Market Overview

4.2 Funding and Revenue Statistics in Venture Capital Space of United States

4.3 Market Drivers

4.4 Market Restraints

4.5 Porters Five Forces Analysis

4.6 PESTLE Analysis

4.7 Impact of COVID-19 on the Market

5 MARKET SEGMENTATION

5.1 By Industry Type (2018-2022)

5.1.1 Banking & Financial Services

5.1.2 Healthcare

5.1.3 Telecommunications

5.1.4 Government Agencies

5.1.5 Other Industries

5.2 By Startup Stage (2018-2022)

5.2.1 Seed Stage

5.2.2 Startup Stage

5.2.3 First Stage

5.2.4 Expansion Stage

5.2.5 Bridge Stage

5.3 By Major States (2018-2022)

5.3.1 California

5.3.2 New York

5.3.3 Massachusetts

5.3.4 Washington

5.3.5 Others

6 COMPETITIVE LANDSCAPE

6.1 Market Concentration Overview

6.2 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

8 DISCLAIMER AND ABOUT US

For more information about this report visit https://www.researchandmarkets.com/r/s4f7fq

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