MINNEAPOLIS, Nov. 11, 2025 — iRiva Medical, Inc., a privately held, development stage medical device company based in Minneapolis, and NuXcel spinoff, announced the closing of its initial financing led by F-Prime, with participation from Hatteras Venture Partners, Norwest, and Treo Ventures The proceeds of this financing will provide resources to enable the company to pursue the development and commercialization of innovative neuromodulation technology platforms to treat large patient populations suffering from chronic diseases.
Concurrent with financing, the company announced the hiring of Steve Masson as President and Chief Executive Officer. Mr. Masson is an experienced senior executive with more than 40 years in the medical device business, including 35 years in active implantable devices. Previously, Steve held senior executive and management roles for more than 30 years. He has served in general management, research and development, and operational positions in both venture capital-backed startups and large, revenue-driven companies, including Cordis, Ventritex, InnerPulse, NeuroTronik and Avivomed.
“We look forward to partnering with our seasoned investor group and benefitting from their depth of experience in medtech and neuromodulation. I am excited and appreciative to join the iRiva team as we work together to deliver a new and innovative therapy to patients and clinicians,” Mr. Masson commented.
iRiva is the fourth company to be launched out of NuXcel, a medical device accelerator managed by Mudit Jain and Lynn Elliott, with backing by Treo Ventures. “We are excited to have Steve Masson joining another NuXcel spinoff, honored to have the support of world-class investors and looking forward to partnering with this experienced syndicate to deliver on iRiva Medical’s mission,” said NuXcel founder and CTO, Lynn Elliott.
“We are thrilled to partner once again with Steve Masson, the NuXcel team, and this investor syndicate and look forward to realizing iRiva’s mission of delivering state-of-the-art neuromodulation therapy to patients with significant unmet clinical need,” said Kevin Chu, Principal at F-Prime.
Forge Global’s $660 million acquisition and Animoca Brands’ planned Nasdaq listing mark defining moments for the True Global Ventures Funds 4 and 5.
SINGAPORE, Nov. 11, 2025 — True Global Ventures (TGV), the global venture capital firm investing in AI and Blockchain technology companies celebrates a historic week in the U.S.
Two of TGV’s flagship investments — Forge Global Holdings (NYSE: FRGE) and Animoca Brands Corporation Limited — have each achieved transformative milestones that highlight the fund’s long term commitment to backing visionary entrepreneurs shaping the future of finance and digital assets.
Forge Global’s $660 million acquisition and Animoca Brands’ planned Nasdaq listing mark defining moments for the True Global Ventures Funds 4 and 5.
FORGE GLOBAL ACQUIRED BY CHARLES SCHWAB FOR $660 MILLION
Charles Schwab Corporation has agreed to acquire Forge Global for approximately US $660 million, valuing the company at about US $45 per share.
Forge Global has pioneered digital infrastructure that enables liquidity in private equity and venture capital, connecting investors, shareholders, and private companies in one of the world’s largest and fastest-growing secondaries ecosystems.
“Moments like this remind us why we invest for the long run,” said Dušan Stojanović, original founder of True Global Ventures, a visionary supporting extraordinary entrepreneurs. “Forge Global has redefined how liquidity is created and managed in private markets. Its acquisition by Charles Schwab reflects the accelerating convergence between traditional finance and the private-markets economy — a space where TGV has invested since inception. We believe that Forge Global will continue to innovate in areas like tokenisation of private company stock and funds!“
Kelly Rodrigues, CEO of Forge Global, added: “This partnership with Charles Schwab represents an inflection point for private markets. Forge was built to democratize access to private-company investments, and joining forces with one of the world’s most trusted financial institutions will dramatically accelerate that mission. We’re proud to have had long-term partners like TGV who believed in this vision from the start.”
ANIMOCA BRANDS PURSUING NASDAQ LISTING VIA CURRENC GROUP INC.
Animoca Brands has proposed a merger with Currenc Group Inc. (Nasdaq: CURR) through which Animoca’s shareholders would own approximately 95% of the combined entity. The merger is expected to complete in H2 2026 and result in a Nasdaq-listed company.
Animoca Brands is building the foundational layer of digital property rights. Its partnership with Currenc creates powerful potential synergies across cross-border payments, stablecoins, and tokenized digital assets — combining Web3 innovation with next-generation financial infrastructure.
Yat Siu, Co-Founder and Executive Chairman of Animoca Brands, commented: “A Nasdaq listing via Currenc represents a major step toward mainstream adoption of digital assets and tokenization. It enables us to bring the benefits of digital property rights — from gaming and education to finance and beyond — to an even broader audience.”
He continued: “Our collaboration with Currenc reflects shared DNA — both organizations are reinventing how value moves globally. Together, we aim to accelerate the transition toward open, interoperable digital economies. True Global Ventures has been a steadfast believer in this vision from the very beginning.”
Dušan Stojanović, commented: “Yat Siu is one of the most visionary entrepreneurs of our time. His leadership at Animoca Brands continues to shape the future of digital property rights. Our partnership spans over a decade, and seeing Animoca prepare for a Nasdaq listing is not only a testament to his vision, but to the power of persistence, innovation, and global collaboration. We are proud to have believed in this mission from its earliest stages.”
A DEFINING WEEK FOR TRUE GLOBAL VENTURES
These two milestones — one in private-markets liquidity, the other in digital-asset infrastructure — epitomize TGV’s investment philosophy: back visionary founders, accelerate scale in US and globally, bridge traditional finance with AI and Blockchain innovation.
A few months after being granted as a License Fund Management Company (LFMC) with a Capital Markets Services (CMS) license by the Monetary Authority of Singapore (MAS), True Global Ventures is now celebrating two major successes in the U.S, positioning itself among the best-performing venture capital funds globally.
ABOUT TRUE GLOBAL VENTURES True Global Ventures (TGV) is a global venture capital firm investing in AI and Blockchain technology companies at the growth and late stages. TGV’s portfolio includes Animoca Brands, Forge Global, Ledger, The Sandbox, Prezent, Coding Giants, Obligo, COVU, Validation Cloud, SATO, Chromaway, Jus Mundi, BookitnGo, GCEX, Coinhouse…and many others. Almost all portfolio companies in the U.S. or entering the U.S. With presence across San Francisco, New York, Paris, London, Stockholm, Dubai, Singapore and Hong Kong, TGV backs visionary founders building the next generation of transformative technology ventures.
L’acquisition de Forge Global pour 660 millions de dollars et le projet d’introduction d’Animoca Brands au Nasdaq marquent des jalons déterminants pour les fonds True Global Ventures 4 et 5.
SINGAPOUR, 11 novembre 2025 — True Global Ventures (TGV), société internationale de capital-risque investissant dans les entreprises de technologies d’intelligence artificielle (IA) et de blockchain, célèbre une semaine historique aux États-Unis.
Deux des investissements phares de TGV — Forge Global Holdings (NYSE : FRGE) et Animoca Brands Corporation Limited — ont chacun franchi des étapes majeures qui soulignent l’engagement à long terme du fonds à soutenir des entrepreneurs visionnaires façonnant l’avenir de la finance et des actifs numériques.
Forge Global’s $660 million acquisition and Animoca Brands’ planned Nasdaq listing mark defining moments for the True Global Ventures Funds 4 and 5.
FORGE GLOBAL ACQUISE PAR CHARLES SCHWAB POUR 660 MILLIONS DE DOLLARS
Charles Schwab Corporation a accepté d’acquérir Forge Global pour environ 660 millions de dollars américains, valorisant l’entreprise à environ 45 dollars par action.
Forge Global a été un pionnier dans le développement d’une infrastructure numérique facilitant la liquidité sur les marchés privés et reliant investisseurs, actionnaires et entreprises privées au sein de l’un des plus grands écosystèmes mondiaux de marchés secondaires, en forte croissance.
« Des moments comme celui-ci nous rappellent pourquoi nous investissons sur le long terme, » a déclaré Dušan Stojanović, fondateur initial de True Global Ventures et visionnaire soutenant des entrepreneurs d’exception. « Forge Global a redéfini la manière dont la liquidité est créée et gérée sur les marchés privés. Son acquisition par Charles Schwab reflète la convergence accélérée entre la finance traditionnelle et l’économie des marchés privés — un domaine dans lequel TGV investit depuis sa création. Nous croyons que Forge Global continuera d’innover dans des domaines tels que la tokenisation des actions et des fonds d’entreprises privées !»
Kelly Rodrigues, CEO de Forge Global, a ajouté : « Ce partenariat avec Charles Schwab représente un tournant pour les marchés privés. Forge a été créée pour démocratiser l’accès aux investissements dans les entreprises privées, et le fait de rejoindre l’une des institutions financières les plus fiables au monde va accélérer considérablement cette mission. Nous sommes fiers d’avoir eu des partenaires de long terme comme TGV, qui ont cru en cette vision dès le départ. »
ANIMOCA BRANDS ENVISAGE UNE COTATION AU NASDAQ VIA CURRENC GROUP INC.
Animoca Brands a proposé une fusion avec Currenc Group Inc. (Nasdaq : CURR), dans le cadre de laquelle les actionnaires d’Animoca détiendraient environ 95 % de la nouvelle entité combinée. La fusion devrait être finalisée au second semestre 2026, conduisant à une société cotée au Nasdaq.
Animoca Brands construit la couche fondamentale des droits de propriété numérique. Son partenariat avec Currenc crée des synergies puissantes dans les domaines des paiements transfrontaliers, des stablecoins et des actifs numériques tokenisés, combinant l’innovation Web3 et une infrastructure financière de nouvelle génération.
Yat Siu, cofondateur et président exécutif d’Animoca Brands, a déclaré : « Une cotation au Nasdaq via Currenc représente une étape majeure vers l’adoption massive des actifs numériques et de la tokenisation. Elle nous permettra d’apporter les avantages des droits de propriété numérique — du jeu vidéo et de l’éducation à la finance et au-delà— à un public encore plus large. »
Il poursuit : « Notre collaboration avec Currenc reflète un ADN commun — deux organisations qui réinventent la manière dont la valeur circule à l’échelle mondiale. Ensemble, nous voulons accélérer la transition vers des économies numériques ouvertes et interopérables. True Global Ventures a cru en cette vision depuis le tout début. »
Dušan Stojanović a ajouté : « Yat Siu est l’un des entrepreneurs les plus visionnaires de notre époque. Son leadership chez Animoca Brands continue de façonner l’avenir des droits de propriété numérique. Notre partenariat s’étend sur plus d’une décennie, et voir Animoca se préparer à une cotation au Nasdaq est non seulement un hommage à sa vision, mais aussi au pouvoir de la persévérance, de l’innovation, et de la collaboration mondiale. Nous sommes fiers d’avoir cru en cette mission dès ses débuts. »
UNE SEMAINE DÉTERMINANTE POUR TRUE GLOBAL VENTURES
Ces deux étapes — l’une dans la liquidité des marchés privés, l’autre dans l’infrastructure des actifs numériques — incarnent la philosophie d’investissement de TGV : soutenir des fondateurs visionnaires, accélérer la croissance à l’échelle mondiale et relier la finance traditionnelle à l’innovation en IA et Blockchain.
Quelques mois seulement après l’obtention de sa licence de société de gestion de fonds (LFMC) à travers une licence de services de marchés de capitaux (CMS) délivrée par l’Autorité Monétaire de Singapour (MAS), True Global Ventures célèbre aujourd’hui deux succès majeurs aux États-Unis, confirmant sa position parmi les meilleurs fonds de capital-risque au monde.
À PROPOS DE TRUE GLOBAL VENTURES True Global Ventures (TGV) est une société internationale de capital-risque investissant dans des entreprises de technologies d’intelligence artificielle et de blockchain aux stades de croissance et de maturité. Son portefeuille comprend notamment Animoca Brands, Forge Global, Ledger, The Sandbox, Prezent, Coding Giants, Obligo, COVU, Validation Cloud, SATO, Chromaway, Jus Mundi, BookitnGo, GCEX, Coinhouse, et bien d’autres. La plupart de ses entreprises sont implantées aux États-Unis ou y développent leurs activités. Présente à San Francisco, New York, Paris, Londres, Stockholm, Dubai, Singapore and Hong Kong, TGV soutient des fondateurs visionnaires qui construisent la prochaine génération de ventures technologies à fort impact.
NEW YORK, Nov. 11, 2025 — As much of the infrastructure sector turns its attention to artificial intelligence for design, engineering, and project planning, Dynamic Infrastructure continues to define the next frontier: Operational and Maintenance AI, empowering public agencies and private owners to maximize every dollar where most budgets are ultimately spent and efficiency matters most.
Saar Dickman, CEO
Building on more than three years of successful AI deployment supporting bridge, culvert, and roadway owners worldwide, the company today announced the release of the next version of its Virtual Assistant Engineer, now rolling out to flagship users before general availability later this month.
“Most of the industry discussion today revolves around using AI for design and construction planning,” said Saar Dickman, CEO of Dynamic Infrastructure. “We respect that progress, but our mission has always been to help counties, cities, and state agencies operate more effectively, safely, and efficiently in the real world, where budgets are tight and every maintenance action counts.”
The new version of the Virtual Assistant Engineer introduces enhanced automation in inspection review and evaluation, turning inspection data into planned action, cross-asset risk forecasting, and FEMA reporting requirements. It empowers agencies to turn historical data, imagery, and documents into immediate operational intelligence.
While some companies are now announcing early-stage AI initiatives inspired by digital design tools, Dynamic Infrastructure has been implementing Engineering-AI™ in the field for years across thousands of assets. Its focus is on measurable results: extending asset lifetime, saving millions on day-to-day operations, and freeing engineers from time-consuming and repetitive analysis tasks, so they can focus on making critical decisions.
“AI for infrastructure is not about sketches or prototypes, it’s about understanding civil engineering reality and predicting what’s next,” added Dickman. “This release takes another major step toward our vision of giving every county and city “digital engineer” working for them, 24/7.”
About Dynamic Infrastructure Dynamic Infrastructure provides the world’s first Virtual Assistant Engineer, a cloud-based AI companion for civil engineers and asset managers that automates inspection analysis, deterioration forecasting, and maintenance justification. Trusted by agencies across the U.S., Europe, and Australia, the company’s Engineering-AI™ platform delivers actionable insights that keep infrastructure safe, resilient, and financially sustainable.
Company Marks Key Milestone in AI-Enhanced Cancer Diagnostics
HOUSTON, Nov. 11, 2025 — EXoPERT, a biotechnology company pioneering AI-powered exosome-based liquid biopsy diagnostics for multi-cancer early detection, is excited to announce that it has joined Johnson & Johnson’s global incubator network, JLABS, as a resident of JLABS TMC.
JLABS is the world’s largest network of open innovation ecosystems, empowering emerging life science companies with access to expertise, strategic partnerships, and venture connections across the pharmaceutical, biotechnology, and medical technology sectors.
“Joining this community of innovators marks an important milestone in EXoPERT’s journey to transform cancer diagnostics,” said Yeonho Choi, CEO of EXoPERT. “We aim to leverage its resources, infrastructure, and vibrant innovation ecosystem to help accelerate clinical validation and bring our AI-enhanced exosome technology closer to patients worldwide.”
EXoPERT is developing a multi-cancer early detection (MCED) platform that combines high-purity exosome isolation, surface-enhanced Raman spectroscopy (SERS)-based molecular pattern recognition, and advanced AI-driven analytics. By decoding the rich molecular signatures carried by extracellular vesicles, EXoPERT’s proprietary platform enables non-invasive, highly sensitive detection of early-stage cancers and has the potential to dramatically improve patient outcomes.
To advance clinical validation, EXoPERT is collaborating with leading U.S. institutions, including Johns Hopkins University School of Medicine, City of Hope®, one of the largest and most advanced cancer research and treatment organizations in the US, and multiple Department of Veterans Affairs medical center sites nationwide. These next steps are crucial for evaluating the performance of EXoPERT’s diagnostic platform across diverse patient populations and accelerating its pathway toward regulatory approval.
About EXoPERT EXoPERT is a biotechnology company developing next-generation exosome-based liquid biopsy diagnostics for multi-cancer early detection and precision medicine applications. Its proprietary high-purity exosome isolation technology, combined with AI-enhanced analytics, provides unparalleled insights into tumor biology through a simple blood test. By enabling earlier diagnosis and more personalized treatment strategies, EXoPERT aims to make a meaningful impact on global cancer care. For more information, see exopert.com.
This is the second and final tranche of IBI Ag’s Series A Round for its novel bioinsecticide platform
NESS ZIONA, Israel, Nov. 11, 2025 — IBI Ag, a pioneering crop protection company developing a wide array of bio-insecticides with a lower ecological footprint, today announced the successful completion of its Series A funding round for a total of $10 million.
The investment was led by Corteva (“Corteva”) through its Corteva Catalyst platform, with the participation of The Trendlines Group (SGX:42T) (OTCQX: TRNLY), Iron Nation, Consensus Business Group (“CBG”), and a grant from the Israel Innovation Authority, joined by Bandera Capital and First Imagine Ventures, enabling the closing of the round.
The completion of this Series A represents a significant milestone for IBI Ag, underscoring growing global recognition of the company’s innovative antibody-based bioinsecticide platform. The funds will enable IBI Ag to accelerate product development and regulatory advancement of its next-generation biological pest control solutions.
IBI Ag’s proprietary technology leverages single-domain antibodies (nanobodies) to create highly effective, selective, and safe biological insect control products. Adapted from the pharmaceutical field and optimized for agriculture, this groundbreaking platform introduces new modes of action that protect high-value crops from both sucking and chewing insects, while minimizing environmental impact and preserving beneficial species.
“We’re proud to have the continued confidence of our investors and to welcome Bandera Capital and First Imagine Ventures to the IBI Ag family,” said Arnon Heyman, CEO of IBI Ag. “With the completion of our Series A, we are well positioned to bring our novel biological solutions closer to farmers worldwide, supporting both productivity and sustainability.”
“The collaboration between IBI Ag and Corteva is a clear example of how working together can deliver innovation that increases performance and provides more sustainable solutions in crop protection,” said Tom Greene, senior director at Corteva and global leader for Corteva Catalyst. “We are excited to continue exploring the development of next generation biologicals and naturally inspired solutions as IBI Ag advances toward commercialization.”
Corteva, through its Corteva Catalyst platform, collaborates with entrepreneurs and innovators to accelerate the development of early-stage, disruptive technologies that enable farmers to sustainably produce more food and feed.
About IBI Ag
IBI Ag is a pioneer in the Agri-biotech industry, developing innovative and sustainable crop protection solutions. The company’s proprietary nanobody technology provides a new mode of action for controlling a broad range of insect pests with minimal ecological footprint. Founded by The Trendlines Group together with Dr. Amir Ayali and Dr. Rony Oren Benaroya, and supported by the Israel Innovation Authority, IBI Ag is redefining the future of pest management.
The deep-tech fund is doubling down on dual-use innovation, setting the standard for how mission-focused venture scales.
BOSTON, Nov. 11, 2025 — J2 Ventures, the veteran-led venture firm investing where government purpose meets private innovation, today announced the close of its $250 million oversubscribed Brookhaven Fund counting JP Morgan, MetLife, Upsher Management, Alpha Leonis Partners and the State Investment Council of New Mexico as its LP’s, among other prominent institutions and family offices. One of the largest early-stage vehicles dedicated to dual-use technology, the new fund reflects the growing momentum behind J2’s approach and builds on the fund’s proven track record of strengthening both economic and national resilience by helping founders scale innovation with commercial reach and impact. What began as a focused strategy to bridge frontier technology and real-world impact has now become a proven playbook for scaling innovation that endures.
“There have been rocket-ship companies in every generation born out of early collaboration between national necessity and private ingenuity,” said Alex Harstrick, Managing Partner and Co-Founder of J2 Ventures. “Oracle began with a government project, Cisco and the early internet grew from federally funded research, and one of Pixar’s first customers came from the public sector. We’re entering a moment where urgency and investment are converging across both private venture and government to solve hard, consequential, and high-stakes problems. Brookhaven exists to accelerate that cycle, backing founders whose innovations strengthen not only national security but the everyday systems that keep society safer, healthier, and more connected.”
J2’s expertise lies in the collective experience of its team, which spans across national security, science, finance, entrepreneurship, and public policy. This cross-disciplinary perspective allows the firm to evaluate technologies through both mission-critical and market-driven lenses. Across its first two funds, J2 backed more than 35 companies advancing critical capabilities in health, infrastructure, and security.
Today, Government appetite for commercial innovation has accelerated as national priorities shift toward technological readiness, resilience, and deeper private-sector collaboration. Brookhaven will focus on early-stage investments in companies developing critical technologies across:
Advanced Computing
Cybersecurity
Communications Infrastructure
Artificial Intelligence
Healthcare, with an emphasis on remote physiological monitoring
“The most impactful innovation happens when founders are empowered with capital, insight, and access,” said Jonathan Bronson, PhD, Managing Partner and Co-Founder of J2 Ventures. “Our goal with Brookhaven is to ensure that world-changing technologies don’t get stuck on the lab bench, that they reach scale, adoption, and global impact, all while preserving value for the founder.”
Having helped pioneer the modern dual-use investment category, J2 combines commercial discipline with deep ties across defense and intelligence, helping founders secure non-dilutive capital and navigate complex regulatory environments and on average, J2-backed companies raise $2 in non-dilutive funding for every $1 the firm invests. Its portfolio includes:
Oura – Wearable technology reshaping personal health
Aalyria – Connectivity spin-out from Google delivering resilient global networks
Codemetal – AI translation for critical industries, now deployed across multiple Defense Programs
Apex Space – Mass-produced small satellites accelerating space infrastructure
The firm’s partnership remains anchored by Alex Harstrick and Jonathan Bronson, PhD, and includes General Partners Dr. Matt Goldman – former Chief Medical Officer of the Defense Innovation Unit and a retired Air Force Colonel, Christine Keung – former Chief Data Officer for the City of San Jose and political appointee at the Small Business Administration, and Master Chief (ret.) Adam Briley (Navy SEAL) – who leads J2’s Federal Programs initiatives. Together, they share a singular focus: helping founders transform emerging technologies into scalable solutions that advance both commercial and national interests.
J2 is also guided by some of the nation’s most respected military and business leaders: LTG (ret.) Patty Horoho, former Army Surgeon General and former CEO of UnitedHealthcare’s veteran business, Jennifer Cable, President of Thor Labs, one of the largest deep tech manufacturing companies in America, and Paul Gompers, the most published expert on Venture Capital at Harvard Business School, among others. They have all advised J2 since its founding, bringing deep expertise in healthcare innovation, operational readiness, and technology adoption across the public and private sectors.
Brookhaven is J2’s third consecutive oversubscribed fund, with virtually zero LP turnover, underscoring long-term confidence in both its performance and purpose.
About J2 Ventures
J2 Ventures is a Boston-based venture capital firm investing in technologies that advance both commercial markets and U.S. national security. Led by veterans, scientists, and entrepreneurs, the firm partners with early-stage companies developing critical innovations across advanced computing, cybersecurity, communications, and healthcare. J2 portfolio companies have raised more than $1 billion in follow-on capital and secured hundreds of millions in non-dilutive government funding, underscoring the firm’s mission to make innovation both scalable and enduring.
Start-up led by former US customs personnel is building global trade automation tools to support a legacy industry.
LEESBURG, Va., Nov. 10, 2025 — BITE Data Corporation, an AI-native SaaS company providing global trade compliance solutions, today announced that they have closed a Series Seed round in the amount of $2.5m, led by Las Olas Venture Capital (LOVC).
Additional capital investment came from New Dominion Angels and Blue Impact Venture Capital. This Series Seed round builds on BITE’s Pre-seed round of $500,000, closed in June of this year, with major contributions from Techstars and Refashiond Ventures, bringing total funding to $3m across both rounds.
Las Olas Venture Capital (LOVC) is an early-stage venture capital firm that invests in B2B software with a focus on vertical SaaS and AI startups across the Eastern United States. The firm backs founding teams building software and AI platforms that modernize outdated business workflows delivering measurable improvements in ROI efficiency and productivity. With decades of operating experience LOVC takes an active and collaborative approach working hands-on with founders to amplify their impact and transform industries.
“We’re really excited about this investment, and super thankful for the confidence LOVC and the other investors have placed in our vision,” BITE CEO, Thariq Kara said. “Global trade is in huge flux, and we want to provide useful, efficient automation tools to the industry that build on the advancements in AI as well.
“We’re thrilled to back BITE as they modernize a critical often-overlooked function in global trade” said Dean Hatton of Las Olas Venture Capital. “Thariq and Anne bring unmatched regulatory and technical expertise, and their AI-driven platform is transforming how companies manage compliance risk and cross-border operations. BITE’s technology brings speed, accuracy and accountability to an area that has long relied on manual processes, and we’re excited to support them as they scale their impact across industries.”
BITE Data is a Leesburg, VA-based start-up, founded in 2023 by Thariq Kara and Anne Riitho. Both have a strong background in global trade and customs enforcement, with Thariq previously holding a senior technical role at US Immigration and Customs Enforcement (ICE), while Anne led supply chain investigations for 3 letter US agencies.
As geo-political tensions increase – including the use of tariffs and sanctions as coercion tools – BITE’s focus on building accurate, AI-powered tools to automate global trade compliance tasks for both import and export compliance workflows is very timely. Initial goals with the venture-backed funding will be to grow the engineering team and build out a solid sales team to drive growth.
SAN FRANCISCO, Nov. 10, 2025 — Tradespace is pleased to announce its acquisition of Paragon, a patent-drafting startup founded by three Princeton computer science students that developed transparent, traceable artificial intelligence to draft reliable patents. With this acquisition, Tradespace becomes the first AI-powered platform to support the complete IP lifecycle – from initial invention disclosure through patent drafting, prosecution, portfolio management and commercialization.
The acquisition comes as organizations face mounting pressure to accelerate innovation while keeping legal costs in check. This is becoming impossible within the traditional patent drafting model, which can take months and cost tens of thousands of dollars.
“When I founded Tradespace, the vision was clear: empower organizations to develop, protect, and commercialize ideas at a much greater scale” said Alec Sorensen, CEO and Co-Founder of Tradespace. “In acquiring Paragon, we are investing not only in democratizing the patent drafting process, but in building an approach to legal AI that works alongside IP teams with the same levels of trust, transparency, and expertise they would get from an attorney. With the Paragon team, we also get a unique combination of IP expertise and deep AI research that enables us to continue pushing the boundaries of attorney-grade AI”
Paragon generates accurate, defensible patent drafts with full traceability to source materials, giving R&D and IP teams confidence that every claim, citation and technical detail can be verified and defended. Unlike other AI patent tools, Paragon’s agents work alongside users and keep them in control at every decision point, with verification checkpoints that ensure accuracy and maintain professional IP standards. This human-AI collaboration addresses the legal industry’s biggest concern: trusting AI with high-stakes professional work.
“Tradespace has changed how we capture and evaluate ideas across the company,” said Ilan Hornstein, Global Vice President and Deputy General Counsel, 8×8, Inc. “We’re moving faster, from invention to patent, and using AI to do it smarter. That efficiency helps us focus our outside counsel on higher-value work and get innovation to market sooner. The Paragon acquisition reinforces why we partnered with Tradespace in the first place: they’re building an AI-native IP platform designed for speed, clarity, and impact.”
AbdurRahman (AR) Bhatti, Paragon Chief Executive Officer and Co-Founder, joins the Tradespace team as Head of Product, Patent Drafting, and will continue to develop the technology to ensure seamless integration with Tradespace’s broader IP Management Platform. Paragon’s Chief Technology Officer Ethan Haque and Chief Engineer Claire Shin join Tradespace as senior members of the AI Research team.
“For me, it’s always just been about where this technology is going to serve the most people,” said Bhatti. “We wanted to make patent drafting accessible to innovators who needed it. Joining Tradespace makes sense as a natural fit – we get to integrate as a link in the chain of what is already a really strong product. At Princeton, the Office of Innovation raves about them, and when Princeton is that excited about a bleeding-edge product, you know there’s something special there.”
Bhatti first envisioned Paragon as a teenager after seeking a patent for his own invention. By his sophomore year at Princeton, he had eleven patents to his name. With AI technology maturing, he assembled his Princeton classmates to create a platform that would democratize access to professional-grade patent drafting.
Bhatti, Haque and Shin met studying computer science at Princeton University. Haque and Shin graduated this spring, and Bhatti will graduate in the fall.
“Princeton University’s Office of Innovation supported the independent, student-founded startup company Paragon as it developed an AI-based platform to draft patent applications,” said Craig Arnold, Vice Dean of Innovation and University Innovation Officer at Princeton University. “In line with our educational mission, our Technology Licensing team recognized the potential benefit of an AI patent-drafting platform and offered the student founders access to a curated number of past invention disclosures to train their algorithm. Using our portfolio, they could then test their ability to draft patents while comparing their output to the patents that were actually filed. We are pleased to see that they have become a part of the Tradespace family of products.”
Paragon and Tradespace share a mission-driven commitment to accelerating innovation. Both companies are building AI that empowers inventors and innovators to protect their ideas seamlessly, with full transparency, traceability, and human control at every step.
With Paragon integrated, Tradespace plans to draft 10,000 patents through the platform in the next 18 months, significantly reducing the time and cost of innovation for corporations, universities, and independent inventors.
About Tradespace Tradespace is the first end-to-end AI-powered platform for intellectual property management, helping IP teams transition from reactive portfolio management to proactive invention development and commercialization. Founded by seasoned IP leaders and technology specialists, Tradespace supports the complete IP lifecycle – from initial invention disclosure through AI-powered patent drafting, prosecution, portfolio management and commercialization. By combining cutting-edge AI research with enterprise security and deep domain expertise, Tradespace empowers IP teams to protect more inventions, develop higher-quality IP, and bring breakthrough ideas to market faster.
Contact: Andrea Christman Poston Communications 202.302.1511
