NEW YORK, May 11, 2023 — Bregal Sagemount (“Sagemount”) and FTV Capital (“FTV”), two leading growth-focused private equity firms, today announced a strategic growth investment in Neptune Flood Incorporated (“Neptune” or the “Company”), a leading digital insurtech platform and private flood insurance provider. Sagemount and FTV will acquire a substantial minority stake in the Company, with Neptune CEO and management maintaining majority ownership. Financial terms of the transaction were not disclosed.

Launched in 2018 and based in St. Petersburg, Florida, Neptune provides affordable and value-added flood insurance policies to over 150,000 homeowners, renters, and businesses in 48 states and Washington, D.C. Founded with the goal of changing the way consumers and businesses think about and buy insurance, the Company has disrupted the traditional flood insurance market, offering a digital platform that enables insurance agents and customers to obtain coverage in mere minutes. Neptune’s proprietary AI platform, Triton, instantly assesses flood risk on a property-by-property basis, allowing the Company to provide an accurate assessment of risk, personalize pricing for customers, and offer competitive premiums.

“We are thrilled to be partnering with Sagemount and FTV as we continue to build our business and achieve our mission of making flood insurance more accessible, helping customers better protect their homes and businesses from the devastating effects of flooding,” said Trevor Burgess, President & CEO of Neptune. “Both Sagemount and FTV have established track records of insurtech growth investments and expertise in scaling technology-enabled businesses, something that set them apart from other investors we saw in the market and made them the ideal partners for our next phase of growth.”

“Sagemount has been investing in and following the insurance and MGA markets for several years and we are incredibly impressed by the innovative technology that Neptune has built,” added Blair Greenberg, Partner at Sagemount. “The Company has truly disrupted the traditional flood insurance market and we are excited to support them as they continue to bring their insurtech solution to more customers.”

Mike Vostrizansky, Partner at FTV, added, “We are excited to support Neptune as they continue to transform the way that homeowners and businesses purchase flood insurance – increasing consumer awareness and adoption. Neptune’s visionary management team has built a differentiated technology platform that we believe has positioned the company for expansive growth in the years ahead, and we welcome the opportunity to leverage our domain expertise and strategic relationships in our Global Partner Network® to contribute to the company’s growth journey.”

Sagemount and FTV’s investment in Neptune will help enable the Company to accelerate its growth plans and expand its customer base while continuing to enhance its technology platform and develop new products to meet the evolving needs of homeowners and businesses.

With this growth investment, Greenberg and Vostrizansky will join Neptune’s board of directors.

Morgan Stanley & Co. LLC served as exclusive financial advisor to Neptune. Howden Tiger Capital Markets & Advisory acted as financial advisor to Bregal Sagemount and FTV.

About Neptune Flood

Neptune Flood is an AI-driven insurance company specializing in providing flood insurance solutions for residential and commercial properties. By leveraging advanced technology, data analytics, and user-friendly online tools, Neptune Flood offers consumers and businesses a fast and efficient way to obtain flood insurance policies tailored to their needs. The company aims to simplify the insurance-buying process while offering competitive rates and comprehensive coverage options. Neptune Flood is backed by top-rated insurance carriers, ensuring that their customers receive reliable financial protection in the event of a flood. Their dedication to superior agent and customer service, along with their cutting-edge approach to flood insurance, makes Neptune Flood a trusted and pioneering force in the industry. For more information, visit the Neptune website: www.neptuneflood.com and follow the firm on LinkedIn.

About Bregal Sagemount

Bregal Sagemount is a leading growth-focused private capital firm with more than $6.5 billion of capital raised. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount has invested in over 70 companies in a variety of sectors, including software, information / data services, financial services, digital infrastructure, healthcare IT, and business & consumer services. The firm has offices in New York, Palo Alto, and Dallas. For more information, visit the Sagemount website: www.sagemount.com and follow the firm on LinkedIn.

About FTV Capital

FTV Capital is a sector-focused growth equity investment firm that has raised $6.2 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology and services, financial services, and payments and transaction processing. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in 137 portfolio companies, including Docupace, EBANX, Embroker, LoanPro, LogicSource, ManyPets, Patra, PlateIQ and Solid, and successfully exited/partially exited companies including Enfusion (NYSE: ENFN), Globant (NYSE: GLOB), InvestCloud (recapitalized), RapidRatings (recapitalized), Strata Fund Solutions (acquired by Alter Domus), VPay (acquired by Optum) and WorldFirst (acquired by Ant Financial). FTV has offices in San Francisco, New York, and Connecticut. For more information, please visit www.ftvcapital.com and follow the firm on LinkedIn.

SOURCE Neptune Flood

Edouard Cukierman, Managing Partner at Catalyst Funds: “Catalyst will play a crucial role in supporting the next generation of entrepreneurs and innovators in Israel“

The new Fund was announced at the International Investments Conference, GoforIsrael, which hosted over 1000 participants, including hundreds of investors from Europe, the US, Mexico, Asia and Israel

TEL AVIV, Israel, May 11, 2023 — Catalyst Funds announced the closing of its fourth Fund – Catalyst IV, that will manage assets of $150 million. Catalyst Funds have a total of $450 million in managed assets. The new fund, which has already invested in 3 companies – Curalife, Addionics and Nexar – will invest in growth companies in various sectors including: Cybersecurity, Life Sciences, DeepTech, Mobility, Climatech, Foodtech and Renewable Energy.

The partners in Catalyst are Edouard Cukierman, Yair Shamir, Boaz Harel and Lisya Bahar-Manoah, Luc Muller.

“We are proud that 50 percent of our portfolio companies from our last Catalyst Fund went public in the US”, said Edouard Cukierman, Managing Partner at Catalyst and Chairman of Cukierman Investment House. “The fund had five exits out of 8 investments, while four of them were IPOs and one was an M&A transaction”, he added. Among the IPOs are Tufin, Taboola, and Arbe Robotics.

Catalyst IV was announced at GoforIsrael, the International Investments Conference, organized by Catalyst Fund and Cukierman Investment House, which marked this year its 30th anniversary. The Conference hosted over 1000 participants, including hundreds of investors from Europe, the US, Latin America, and Asia.

“As we look to the future, we recognize that the challenges and opportunities before us are greater than ever before”, said Cukierman. “We saw in our last 30 years of investment activities so many crises, and how the Start-Up Nation managed to overcome all obstacles. We believe that we are well-positioned to meet these challenges head-on. Catalyst will play a crucial role in supporting the next generation of entrepreneurs and innovators in Israel.”

In addition to the new fund, Catalyst also announced the launch of Catalyst Investors’ Club (CIC), a global technology startup in the Fintech market. 
CIC is an investment platform that enables accredited investors to invest alongside VCs or lead investors.  It aims to democratize access to unique investment opportunities, available only to the VC community, reduce risk and personalize the investment process by using AI to make informed decisions.

The platform provides a VOD interface designed to serve as a gateway for startups seeking exposure within the accredited investors community.  The simple onboarding process allows companies to showcase their technology through engaging videos.

CIC works closely with Catalyst Investments as well as Cukierman & Co., the leading Israeli investment house, with more than 30 years of experience and proven success.

About Catalyst Funds:

Catalyst is a prominent multi-fund firm based in Israel with over 24 years of experience in investing in mature, disruptive technology companies that have an Israel nexus. Established in 1999, it is currently the only fund still operating with the same managing partners. Catalyst recently announced the closing of Catalyst IV. Catalyst III resulted in five exits out of eight investments, with four going public in America and one through M&A.

For Further Information please visit our websites:

https://catalyst-fund.com/

https://goforisrael.com/

https://cukierman.co.il/private-equity-fund/

https://www.catalyst-ic.com/

Contact:
Omer Hochbaum, Positive Communications, [email protected]

Photo – https://mma.prnewswire.com/media/2074877/GoforIsrael_Team.jpg
Logo –  https://mma.prnewswire.com/media/2042016/GoforIsrael_Logo.jpg

SOURCE GoforIsrael

Facility Includes Potential Expansion of Notes up to $80 million

Provides Multiple Years of Funding to Enhance Asset Platform

MCLEAN, Va., May 10, 2023 — NextNav Inc. (Nasdaq: NN), a leader in next generation GPS, today announced the closing of a private offering (the “Offering”) of $50 million aggregate principal amount of 10.00% Senior Secured First Lien Notes (the “Notes”) due December 2026 to a group of lenders (the “Lenders”), including Whitebox Advisors LLC, Susquehanna International Group, and Clutterbuck Capital Management, on May 9, 2023. The Lenders will also have the exclusive option to purchase an additional $20 million of Notes on the same terms for 30 days following the close. The facility provides the ability to issue up to a maximum $80 million aggregate principal amount of Notes.

“Our ability to secure multiple years of financing with modest equity dilution is a testament to the value of our asset base and resilient PNT capabilities,” said Ganesh Pattabiraman, NextNav Co-founder and CEO.  “We are very pleased to have a strong syndicate of blue-chip lenders who are aligned with our vision for NextNav. This new funding provides significant runway to actualize our strategic priorities, and efficiently maximize the full value of our asset-rich platform for shareholders and customers.”

The Notes will mature on December 1, 2026, and pay interest semi-annually at a rate of 10.0% per annum, with the first payment being due on December 1, 2023. A minimum of 50% of each interest payment due on the Notes must be paid in cash, with the rest payable in cash or stock at the company’s discretion. The Notes are guaranteed on a first lien senior secured basis by NextNav’s domestic subsidiaries and secured by substantially all of the assets of the company and its domestic subsidiaries. In addition, the noteholders will receive fair market value warrants to purchase common stock for cash at an aggregate exercise price of $40 million and represent approximately 12.5% ownership on a fully diluted basis. The Warrants are partially callable beginning in 2025 depending on the prevailing stock price.

B. Riley Securities acted as the exclusive financial advisor to NextNav on the financing. NextNav was represented by Hogan Lovells; Calfee, Halter & Griswold represented the Lenders.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes or Warrants described in this press release, nor shall there be any sale of the Notes in any state or jurisdiction in which such an offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About NextNav Inc.

NextNav Inc. (Nasdaq: NN) is a leader in next generation GPS, built on a robust asset platform, including 8MHz of wireless spectrum in the 900MHz band with near-nationwide coverage, intellectual property and deployed network systems. The company’s Pinnacle network delivers highly accurate vertical positioning to transform location services, reflecting the 3D world around us and supporting innovative, new capabilities. NextNav’s TerraPoiNT network delivers accurate, reliable, and resilient 3D positioning, navigation and timing (PNT) services to support critical infrastructure and other GPS-reliant systems in the absence or failure of GPS.

For more information, please visit https://nextnav.com/ or follow NextNav on Twitter or LinkedIn.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements, which involve risks and uncertainties, relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to NextNav’s future prospects, developments and business strategies. In particular, such forward-looking statements include statements about NextNav’s position to drive growth in its 3D geolocation business and expansion of its next generation GPS platform, the business plans, objectives, expectations and intentions of NextNav, NextNav’s partnerships and the potential success thereof and NextNav’s estimated and future business strategies, competitive position, industry environment and potential growth opportunities. These statements are based on NextNav’s management’s current expectations and beliefs, as well as a number of assumptions concerning future events.

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside NextNav’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (1) the ability of NextNav to continue to gain traction in key markets and with notable platforms and partners, both within the U.S. and internationally; (2) the ability of NextNav to grow and manage growth profitably, maintain relationships with partners, customers and suppliers, including with respect to NextNav’s Pinnacle 911 solution and its TerraPoiNT network, and the ability to retain its management and key employees; (3) the ability of NextNav to maintain balance sheet flexibility and generate and effectively deploy capital in line with its business strategies; (4) the possibility that NextNav may be adversely affected by other economic, business and/or competitive factors (including the impacts of the ongoing COVID-19 coronavirus pandemic); and (5) other risks and uncertainties indicated from time to time in other documents filed with the Securities and Exchange Commission by NextNav. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and NextNav undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Source: NN-FIN

Contacts

Erica Bartsch
Sloane & Company
[email protected]

SOURCE NextNav

Microsoft and Google commit $5 million in continued funding for Alpha-Omega

VANCOUVER, BC, May 10, 2023 — The Open Source Security Foundation (OpenSSF), a cross-industry organization hosted at the Linux Foundation that brings together the world’s most important software supply chain security initiatives, welcomes four new members from leading technology firms. New OpenSSF general members include Hitachi, Lockheed Martin, Salesforce, and SAP. Technical communities continue to prioritize investment in open source security and recognize the role of supporting and sustaining open source communities in maintaining a healthy, vibrant, and secure open source ecosystem.

The OpenSSF also welcomes new General Manager, Omkhar Arasaratnam, veteran cybersecurity and technical risk management executive. Omkhar has more than 25 years of experience leading global organizations. “It’s an honor to help the Open Source community to build software that’s secure by construction,” said Omkhar Arasaratnam. “The OpenSSF has accomplished great things over the last couple of years under Brian’s leadership. In my new role as General Manager of the OpenSSF, I look forward to continuing our mission for a more secure future for everyone, in partnership with our OpenSSF members.”

Omkhar began his career as a strong supporter of Open Source Software (OSS) as a PPC64 maintainer for Gentoo and contributor to the Linux kernel, and that enthusiasm for OSS continues today. Prior to joining the OpenSSF, he led security organizations at financial and technology institutions, such as Google, JPMorgan Chase, Credit Suisse, Deutsche Bank, TD Bank Group, and IBM. As a seasoned technology leader, he has revolutionized the effectiveness of secure software engineering, compliance, and cybersecurity controls. He is also an accomplished author and has led contributions to many international standards. Omkhar is also a member of the NYU Cyber Fellow Advisory Council and a Senior Fellow with the NYU Center for Cybersecurity.

Brian Behlendorf has been named as the new OpenSSF Chief Technical Officer (CTO). “I am thrilled to welcome Omkhar to the OpenSSF and to be passing the baton of GM to him. Assuming the role of CTO, I am looking forward to focusing more than I could before, and every day, on the deeper technical, community, and related policy challenges facing us in securing the software supply chain,” he said.

OpenSSF’s Alpha-Omega Project recently received a commitment of $5 million in continued funding, with a USD $2.5 million contribution from Microsoft and another USD $2.5 million from Google. The Alpha-Omega mission is to protect society by improving the security of open source software through direct maintainer engagement and expert analysis, trying to build a world where critical open source projects are secure and that security vulnerabilities are found and fixed quickly.

Today, the OpenSSF hosts OpenSSF Day North America at the Open Source Summit North America in Vancouver. OpenSSF Day is an exciting opportunity to learn more about ongoing efforts to secure the open source software ecosystem. Highlights on the agenda include a number of sessions around the state of open source software security, including a keynote fireside chat about how government and the open source community can work together. Panels will explore what’s new in the world of Software Bills of Materials (SBOMs), Alpha-Omega, and DEI for creative, inclusive and sustainable cybersecurity. Other sessions feature talks on DevOps, Sigstore, SLSA, security audits, fuzzing, and more. Both in-person and virtual registration is available.

The OpenSSF is also conducting a survey to understand how the community perceives OpenSSF initiatives like Sigstore, Alpha-Omega, Best Practices Badge, Scorecard, and SLSA. Responses will be used to help evaluate awareness and perception of the OpenSSF, its projects, and identify areas for improvement. Take the OpenSSF Software Security Awareness Survey today.

General Member Quotes

Hitachi

“We think the importance of OSS security is increasing because a lot of our customers leverage OSS for mission-critical systems that support social infrastructure like financial systems or government systems. We are happy to enhance OSS security through the OpenSSF ecosystem, and we would like to help achieve OSS security that meets the mission-critical requirements. Furthermore, we would like to collaborate, not only with the OSS community, but also with the security community to have an active discussion on OSS security in Japan.”

–  Yuichi Nakamura, Director, Hitachi, Ltd.

Lockheed Martin

“Today’s missions operate on timelines of days and weeks, not months and years. The threats our customers face require us to deliver innovation at scale, and with greater agility than ever before, to address their toughest challenges. Lockheed Martin’s contribution to open-source projects and open-source communities is essential to our ability to produce more secure software solutions to our customers. Our collaboration with the Open Source Security Foundation (OpenSSF) is a testament to our commitment to ensure the security of our customers’ systems as we deliver software at the speed of relevance and engineer a better tomorrow.”

–  Alan Hohn, Director of External Outreach and Software Strategy, Lockheed Martin Corporate Engineering

SAP

“SAP is among the top 10 commercial contributors to open source communities as listed on the Open Source Contributor Index. Secure consumption of open source software is naturally essential to SAP’s position as a responsible vendor of enterprise software solutions. We look forward to being an active member of OpenSSF and helping the enterprise software community including our customers benefit from secure and trustworthy open source components.”

–  Tim McKnight, Chief Security Officer, SAP

Additional Resources

• View the complete list of OpenSSF members
• Contribute efforts to one or more of the active OpenSSF working groups and projects
• Register for OpenSSF Day North America

About the OpenSSF
The Open Source Security Foundation (OpenSSF) is a cross-industry organization hosted by the Linux Foundation that brings together the industry’s most important open source security initiatives and the individuals and companies that support them. The OpenSSF is committed to collaboration and working both upstream and with existing communities to advance open source security for all. For more information, please visit us at openssf.org.

About the Linux Foundation
The Linux Foundation is the world’s leading home for collaboration on open source software, hardware, standards, and data. Linux Foundation projects are critical to the world’s infrastructure including Linux, Kubernetes, Node.js, ONAP, PyTorch, RISC-V, SPDX, OpenChain, and more. The Linux Foundation focuses on leveraging best practices and addressing the needs of contributors, users, and solution providers to create sustainable models for open collaboration. For more information, please visit us at linuxfoundation.org.

Media Contact
Jennifer Bly, OpenSSF
[email protected]

SOURCE OpenSSF

Platform handles complex infrastructure, compliance, and payments processing required to power real stakes competitions

SAN FRANCISCO, May 10, 2023 — Triumph, a plug-and-play solution that helps game developers monetize through skill-based real money tournaments, today announces $14.1 million in total funding, with a $10.2 million Series A led by General Catalyst with participation from Heroic Ventures, Hanover Technology Investment Management, SteelPerlot, RavenOne, Box Group, Great Oaks, NOMO, Strike, and Valhalla Ventures, with the prior seed led by Ari Stiegler at Flux Capital. Triumph’s platform multiplies revenue potential for game developers by offering a suite of experience creation tools leveraging real money tournaments and prizes.

Triumph manages all aspects of real money tournaments and prize infrastructure on behalf of developers. “Our mission is to empower development teams of all sizes to build unique experiences around real money competition,” said Jacob Brooks, co-founder and co-CEO of Triumph. Triumph-powered games generate significant revenue growth for game developers and increase player engagement and lifetime: players who play real prize games play 3.6x more per month on average, generating $54 in average monthly revenue per user.

The significant costs and legal complexities around real stakes have historically barred access to all but the largest game studios who could invest millions to bring a real money system online. “Creating a compliant and adaptive real money system requires navigating a patchwork regulatory landscape at the state and federal level. Our game-agnostic infrastructure streamlines gaming law, high-risk payment processing, KYC, and anti-fraud with ease,” said Jared Geller, co-founder and co-CEO of Triumph.

With their Series A funding, Triumph plans to expand to additional platforms beyond mobile and will offer novel real money experiences. Currently operating in 37 states and Washington D.C., Triumph will continue expanding to serve players in more jurisdictions as the legal landscape evolves. To support scaled operations, Triumph has made key hires including Jamin Horn as General Counsel; Bennie Huang as Head of Engineering; and Bruce Yang as Head of Product.

“We believe Triumph is turbocharging player engagement and monetization in a growing gaming category with their SDK that gives gaming studios and developers what they need to build exciting, skill-based games in an ever-changing regulatory landscape,” said Niko Bonatsos managing director at General Catalyst. “The leadership team is able to attract strong talent to their growing team, positioning Triumph to expand their reach across platforms, the US and beyond.”

Game developers looking to integrate real money tournaments into their mobile games can sign up at triumpharcade.com. Games can be up and running on Triumph in one day, and is a free to integrate service.

About Triumph
Triumph is a seamless, plug-and-play payments and compliance engine that makes skill-based real money tournaments a viable way for developers to monetize their games. Triumph is democratizing access to a robust compliance and payments stack that handles KYC, payments processing, gaming law and privacy compliance, anti-fraud, accounting, and player skill matchmaking, ensuring full legal compliance while shielding developers from exposure to the complexities surrounding real money offerings. Triumph-powered games generate significant revenue growth for game developers and increase player engagement and lifetime: players who play real prize games play 3.6x more per month on average, generating $54 in average monthly revenue per user.

For more information, visit triumpharcade.com

About General Catalyst
General Catalyst is a venture capital firm that invests in powerful, positive change that endures — for our entrepreneurs, our investors, our people, and society.  We support founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond to build companies that withstand the test of time. With offices in San Francisco, Palo Alto, New York City, London, and Boston, the firm has helped support the growth of businesses such as: Airbnb, Deliveroo, Guild, Gusto, Hubspot, Illumio, Lemonade, Livongo, Oscar, Samsara, Snap, Stripe, and Warby Parker.

For more: www.generalcatalyst.com.

SOURCE Triumph

Clever Real Estate is on track to achieve profitability in the second half of the year, demonstrating its commitment to financial discipline and long-term success.

ST. LOUIS, May 10, 2023 — Clever Real Estate, a fast-growing real estate technology company, has raised an additional $2 million in funding from venture capital firm Cultivation Capital and EssentVentures LLC, a subsidiary of Essent Group Ltd. (NYSE: ESNT).

The financing round also includes real estate tech strategist Mike DelPrete and builds on the company’s previous $11 million in equity capital, signaling continued belief from industry insiders during a time of market uncertainty.

“Clever has been a company that always exceeds expectations,” said Clifford Holekamp, co-founder and managing director of Cultivation Capital. “We are pleased to have the opportunity to support them again in this funding round.”

This strategic investment comes as Clever launches a title and escrow closing solution in the second quarter of 2023 and continues to grow its lender partnerships channel, which has grown 700% year-over-year and is on pace to transact over $750 million in real estate this year.

“Clever has built the No. 1 online education platform in real estate,” Clever’s Co-Founder and CEO Luke Babich said. “In Clever’s next chapter, we’re using that platform as a springboard to launch new solutions for both consumers and real estate professionals. We couldn’t be more excited to welcome these new partners to the table, who bring additional capital and expertise to help Clever achieve our mission.”

The news follows the company ranking No. 65 on Inc.’s List of Fastest-Growing Companies in the Midwest, as well as the company bolstering its leadership team with recent hires: VP of Content, Rachael Maier, from Healthline; SVP of Partnerships, Tony Chahal, from HomeLight; and Head of Finance, Bryant Gonzales, from Invitation Homes and Sundae.

Clever’s main content business, which generated over 70% of Clever’s $3.25 billion in real estate sales in 2022, has experienced 50% year-over-year growth. This growth has been driven by the company’s emphasis on educational content, which attracts 10 million readers annually, and its ability to help Realtors and mortgage lenders increase revenue in a challenging environment.

About Clever Real Estate
Clever Real Estate is on a mission to connect people with the most trustworthy advice and the best solutions for every step of their real estate journey. Clever’s primary offering is a realtor matching platform that helps home sellers and buyers compare personalized realtor matches and save up to 50% of the typical fees. Clever’s network spans 19,000 agents across all 50 states.

About Cultivation Capital
Cultivation Capital is an early-stage venture capital firm investing in software technology, life sciences, agriculture technology, and geospatial technology companies. Since its founding in 2012, the firm has invested in over 150 companies and is recognized as one of the most active early-stage investors in the United States.

Please contact Kristen Herhold at [email protected] with any questions or to arrange an interview.

CONTACT:  
Kristen Herhold
Clever Real Estate
[email protected] 

SOURCE Clever Real Estate

Investment will advance smart farming technology to empower growers with real-time portable lab data and to support the carbon credit industry with scientifically accurate measurements

MONTREAL, May 10, 2023 — ChrysaLabs, a leading innovator at the forefront of soil science, announced today a 15 million Canadian dollar ($11 million) financing round, including investments from Leaps by Bayer, TELUS Ventures and BDC Capital. Existing investors Ecofuel, Emmertech, Anges Québec, AQC and Koan Capital are also participating in this financing.

A ChrysaLabs Probe™ combines three cutting-edge and patented technologies with AI machine learning to deliver real-time insights straight to the field. The sampling probe analyzes 40 different soil parameters to provide a precise overview of what is happening in the soil, at a lower cost than traditional soil testing. Within 30 seconds of inserting the probe into the ground, users will have a complete soil analysis – including macronutrients, micronutrients, pH, organic matter, CEC, organic carbon, bulk density, moisture and more – at their fingertips.

“Our spectroscopy-based soil probe delivers ground truth soil information, which can empower farmers to make a real impact on climate change while advancing their financial opportunities,” said ChrysaLabs Co-Founder and CEO, Samuel Fournier. “This investment round comes at an important time for us and the industry, which is greatly in need of accurate data, and will propel our expansion into the carbon verification market and onto more farmers’ fields.”

Today, the rapidly growing ag carbon market is missing an accurate, scalable and low-cost solution to deliver trustworthy soil data. ChrysaLabs’ carbon quantification solution establishes a reliable method to verify nature-based carbon credits. The unique ability to gather information on how soil evolves over time unlocks land’s potential like never before.

With a product at the intersection of technology and sustainable agriculture, investors are enthusiastic about the potential of ChrysaLabs.

“ChrysaLabs’ breakthrough innovation will transform how we look at soil and carbon,” said Juergen Eckhardt, EVP and Head of Leaps by Bayer. “Now, for the first time, we can unearth near-real time data that is both accurate and actionable – improving overall sustainability. This is a significant advance over the status quo of mailing soil samples to a lab, which delays the grower’s ability to manage their soil as a dynamic input and inform a wide range of decisions. These insights align and accelerate economic and sustainable outcomes.”

“ChrysaLabs’ technology has the potential to revolutionize the world of agronomy and precision farming,” said Mario Mele, Vice President at TELUS Ventures. “Their technology not only helps growers save time and reduce their reliance on traditional wet soil labs, but also provides them with a comprehensive digital twin of their land, allowing for more precise, and efficient fertilizer management. We see a tremendous potential to make an impact on the future of agronomic services globally and are excited to be a part of their journey.”

“We’re committed to helping Canadian farmers improve profitability while making their business more environmentally friendly and sustainable over time,” said Joseph Regan, Managing Partner, Industrial Innovation Venture Fund at BDC Capital. “Real-time data empowers growers to make decisions that improve yield while optimizing fertilizer applications.”

To date, ChrysaLabs technology has been used on more than two million acres across seven countries, six Canadian provinces and 25 U.S. states.

About ChrysaLabs
Better soil intelligence for better decisions. ChrysaLabs is a fast-growing ag tech company at the intersection of agriculture and science. We believe that fast and accurate soil data are key components of precision ag. ChrysaLabs’ unique solution uses Cloud computing, Artificial Intelligence, and machine learning to extract real-time data from its patented spectroscopy technology providing precious information within seconds, and allowing field managers to take the best actions minutes after sampling. Our technology enables producers and agronomists to sample the soil as many times as they want: more data leads to more precise actions, higher yield, and optimized costs.

www.chrysalabs.com
www.linkedin.com/company/chrysalabs/

Media Contact
Philippe De L’Étoile
[email protected] 

SOURCE ChrysaLabs

WARSAW, Poland, May 10, 2023 — TS2 Space, a satellite communications operator, has recently started investing in artificial intelligence (AI) startups, with a specific emphasis on projects related to satellite communication. Nevertheless, their investment strategy encompasses a broader range of industries, acknowledging the potential of AI-powered innovations in various fields.

TS2 Space’s investment activities in satellite communication primarily focus on the following AI applications:

1. Satellite Image Processing & Analysis: AI algorithms enhance satellite image processing and analysis accuracy. These techniques apply to agriculture, climate monitoring, disaster management, and urban planning.
2. Satellite Constellation Management: AI optimizes management of complex satellite constellations, improving reliability and performance while reducing latency.
3. Autonomous Satellite Operations: AI-driven systems increase satellite autonomy, minimize human intervention, and enable faster responses, safeguarding satellite functionality and safety.
4. Enhanced Communication Security: AI-based cybersecurity solutions strengthen satellite communication networks, protecting sensitive data and preventing unauthorized access.
5. Predictive Maintenance & Resource Optimization: AI-enabled algorithms assess satellite performance, identify potential problems, and suggest maintenance actions, reducing downtime and extending satellite lifespans.
6. Data Compression & Transmission Optimization: AI refines data compression and transmission, allowing satellite communication systems to adapt to fluctuating conditions and optimize data throughput.

All existing TS2 Space customers currently benefit from advanced AI-based systems in Enhanced Communication Security and Data Compression & Transmission Optimization. Satellite service users enjoy additional protection for transmitted data, sophisticated cryptography services, and faster data transfers due to AI-driven compression and transmission optimization. This holds particular significance for government and military sectors, ensuring secure and efficient communication.

TS2 Space has recently been added to the official list of key entities responsible for the operation of critical infrastructure in the Republic of Poland. Our activities involving AI technologies will extend to services catered to government organizations and state administration, further demonstrating our commitment to enhancing public sector operations through advanced AI solutions.

According to a recent TS2 Space report, over 70% of venture capital investors believe the AI sector will experience the most significant growth among all technology sectors. As a venture capital investor, TS2 Space is committed to supporting teams with well-developed AI project ideas, offering the necessary resources for further development.

TS2 Space is now expanding its AI investment portfolio, focusing on areas such as:

1. Natural Language Processing (NLP): Enhancing chatbots, voice assistants, and text analysis through advanced language comprehension.
2. Computer Vision: Boosting image recognition for applications in autonomous vehicles, security, and healthcare.
3. Reinforcement Learning: Advancing robotics, gaming, and recommendation systems through environmental interaction.
4. Generative Adversarial Networks (GANs): Generating realistic content for art, entertainment, and data augmentation.
5. AI in Healthcare: Revolutionizing diagnostics, personalized medicine, and telemedicine.
6. Edge AI: Streamlining response times and reducing data transmission costs on edge devices.
7. AI for Cybersecurity: Protecting businesses and individuals from cyber threats using machine learning.
8. AI Ethics and Regulation: Addressing ethical concerns, transparency, and privacy in AI applications.
9. AI-powered Automation: Optimizing processes and efficiency across industries.
10. AI in Finance: Transforming finance with fraud detection, algorithmic trading, and personalized services.

TS2 Space’s investment strategy underscores the vital role of venture capital funds in fostering innovation across diverse industries. By providing financial support and resources to AI-focused projects, TS2 Space contributes to the realization of groundbreaking ideas, promoting growth and advancing AI technology development.

For additional details and inquiries, visit: https://ts2.space/en/ts2-space-invests-in-ai-startups/

Media Contact:
Marcin Frackiewicz
+48601284795
[email protected]

SOURCE TS2 Space Sp. z o.o.

The IIA will be the first National Advisory Board in Indonesia to help unlock capital, spur investment, and catalyze a market that will benefit people and the planet

JAKARTA, Indonesia, May 10, 2023 — Ford Foundation President Darren Walker joined members of the Indonesian government and business community to celebrate the launch of the Indonesia Impact Alliance (IIA). As a founding member of the IIA and an impact investor on a global scale, Ford Foundation will support the IIA to bring together investors, entrepreneurs, and government to develop an impact investing ecosystem in Indonesia that allows businesses to gain financial returns while solving social and environmental problems.

This builds upon Ford’s work to support the broader global impact investing movement, which strives to center positive outcomes in social, economic, and environmental impact alongside financial returns in investment decisions.

“Throughout the world, we’re continuing to see that the growing field of impact investing is a powerful approach that creates effective, scalable solutions for the public while generating positive financial returns. In Indonesia, the IIA will be unlocking a major opportunity,” said Ford Foundation President Darren Walker. “With cross-sector collaboration and strong partnerships, we can leverage private capital to strengthen economies and reshape the way we use our markets to invest in our communities.”

“The power of Impact Investing has been leveraged throughout the world, and we’re excited to expand this methodology here in Indonesia,” said Indonesia Impact Alliance Chair and CEO of Instellar Romy Cahyadi. “The Indonesia Impact Alliance will play a critical role in connecting investors both foreign and domestic to opportunities that will provide growth, opportunity, and innovation that will benefit shareholders and society.” 

The IIA’s main goal after the initial launch will be to increase direct investment into early-stage high-impact companies by scaling up Indonesian and foreign investors, as well as the Indonesian diaspora communities. The IIA will also function as a convener, information center, and partner to support the development of impact investing policies in Indonesia. The IIA is also supported by the Ministry of National Development Planning for the Republic of Indonesia and the United Nations Development Programme (UNDP) Indonesia.

Ford Foundation launched its $1 billion Mission Investments program in 2017 and has been a longtime supporter of impact investing domestically and abroad. Ford Foundation served as an incubator for the first-ever National Advisory Board in the United States, which now represents more than $8 trillion worth of impact investments. The foundation also supports the Global Steering Group on Impact Investment, which supports the development of National Advisory Boards around the world, as well as the National Advisory Boards for impact investment in South Africa, Nigeria, and Ghana.

“Impact investing as a global movement has grown, in part, through learning and partnership across markets and geographies,” said U.S. Impact Investing Alliance President Fran Seegull. “I am excited to work with our colleagues at the Indonesia Impact Alliance, to share our experiences in the United States, and together to build a movement that places social, economic, and environmental impact at the center of investment decisions.”

“The Nigerian impact investing ecosystem is rapidly evolving with the Ford Foundation being at the forefront of supporting the growth of the market. Through its seed grant to the Impact Investors Foundation (IIF) to facilitate the establishment of the Nigeria National Advisory Board for Impact Investing (NABII), the NABII is positioned to address market barriers and bridge information and data gaps for impact investors,” said Ibukun Awosika, Chairperson, Nigerian National Advisory Board for Impact Investing. “Ford Foundation has proven to be more than a funder but also a true partner who learns and offers to foster collaborations through its local and global network, and it’s encouraging to see these efforts expanding in Indonesia.”

For more information on Ford Foundation’s impact investing work, please visit our website.

THE FORD FOUNDATION
The Ford Foundation is an independent organization working to address inequality and build a future grounded in justice. For more than 85 years, it has supported visionaries on the frontlines of social change worldwide, guided by its mission to strengthen democratic values, reduce poverty and injustice, promote international cooperation, and advance human achievement. Today, with an endowment of $16 billion, the foundation has headquarters in New York and 10 regional offices across Africa, Asia, Latin America, and the Middle East.

SOURCE Ford Foundation