Funding supports continued scale of higher education partnerships for student-led peer learning; education leader Megan Dusenbery appointed CEO; founder Samyr Qureshi becomes Executive Chairman.

MIAMI, Oct. 21, 2025 — Knack, the leading student success technology platform that enables higher education institutions to power and scale peer learning programs, today announced the appointment of Megan Dusenbery as Chief Executive Officer. Founding CEO Samyr Qureshi will transition to Executive Chairman of the Board. The company also announced it has raised a Series B funding round led by New Markets Venture Partners (NMVP).

After a decade of launching and leading the company, Samyr Qureshi will transition from CEO to Executive Chairman, remaining engaged in go-to-market and long-range strategy. Under his leadership, Knack launched on hundreds of campuses nationwide, partnering with prominent institutions such as Fordham University, Northeastern University, University of San Diego, University of Florida, and Georgia Tech, among dozens of others. Knack’s partnerships have enabled student peer tutors to earn millions of dollars and have demonstrably helped institutions strengthen their retention and graduation rates.

“I’m thrilled for this next chapter, for me and for the company,” said Samyr Qureshi, Founder & Executive Chairman. “With nearly 20 years of experience partnering with higher education institutions, Megan brings a rare combination of domain depth and disciplined execution. I could not be more excited to support Knack in a new capacity under Megan’s leadership.”

Dusenbery brings extensive experience in higher education partnerships and revenue leadership, most recently serving as Chief Partnerships Officer at the Association of College and University Educators (ACUE) and previously holding senior roles at Kaplan, including Senior Vice President of Higher Education.

“I’m honored to lead Knack’s talented team into this exciting new phase of growth. At this pivotal moment in higher education, it is more crucial than ever to invest in solutions that yield meaningful retention outcomes for students. What excites me most about Knack is that our platform not only delivers measurable retention outcomes for institutions but also creates paid high-impact job opportunities for students to lead, mentor, and gain real-world skills—impacting both student learning and workforce readiness,” said incoming CEO, Megan Dusenbery.

As part of the transaction and leadership transition, Robb Doub, General Partner at NMVP, and Megan Dusenbery will join Knack’s Board of Directors. Samyr Qureshi will remain on the board as Executive Chairman.

“Megan is the right leader for this phase,” NMVP’s Doub added. “We’re looking forward to working with her and the team.”

About Knack

Founded in 2015, Knack is the leading student success technology platform that enables higher-ed institutions to power and scale peer learning programs, making support more personalized and accessible for every student, from freshman to senior year. Institutions such as Auburn University, Fordham University, the University of Maine, Rutgers University, and dozens of others partner with Knack to identify, credential, and deploy high-achieving students as paid peer tutors—expanding academic support while creating meaningful, skill-building work. Knack is backed by leading venture investors and education companies, including New Markets Venture Partners, Precursor Ventures, ETS.org, Chegg, Arizona State University Enterprise Partners, Village Capital, and Bisk Ventures. Learn more at joinknack.com.

About New Markets Venture Partners

Founded in 2002 by Mark Grovic and Robb Doub, New Markets Venture Partners is one of the longest-running venture firms focused on education and workforce technology. In 2023, the firm raised over $160 million for its oversubscribed Economic Mobility Fund to back evidence-based solutions that improve student and worker outcomes. Learn more at newmarketsvp.com.

SOURCE Knack

Financing led by Biotech Specialist Funds and a Generalist with significant participation from Series A investors 

Proceeds will support the Phase 3 Program for patients with Cannabis Use Disorder

PHOENIXVILLE, Pa., Oct. 21, 2025 — PleoPharma, Inc., a privately held company focused on finding treatments for cannabis-related health issues, announced today the closing of a $36MM Series B financing round. 

PleoPharma will use the proceeds to advance its lead asset, PP-01.  This  investigational product is currently the first, and only Fast Track-designated treatment for the mitigation of Cannabis Withdrawal in patients with Cannabis Use Disorder, which is now entering Phase 3. 

“Recent government data from SAMHSA reported that cannabis addiction continues to accelerate with over 20 million people reported to have Cannabis Use Disorder in the US, an underserved population with no effective or FDA approved solution.  We are grateful to have the partnership of this incredible group of new and existing investors who share our commitment to deliver first in class treatments for those with cannabis addiction and withdrawal,” said Ginger Constantine MD, co-founder and CEO of PleoPharma, Inc.

SuperVision Partners LLC served as the lead placement agent for the offering along with Castle Hill Capital Partners, Inc.

About cannabis withdrawal/cannabis use disorder
The US Government (SAMHSA) reported that in 2024, ~20.6 million Americans had cannabis use disorder. Between 2018 and 2023, the reported number of individuals who received treatment for cannabis-related health problems grew an average of 27% annually (samhsa.gov). People with cannabis use disorder commonly experience significant withdrawal symptoms for which there are currently no FDA approved medications.

“We recognize that many people do use cannabis without becoming dependent”, said Ginger Constantine, “but as with alcohol, some may develop a dependence or use disorder that is worsened by withdrawal symptoms. Our mission is to provide a treatment option for those who want help discontinuing cannabis.”

About PP-01
PP-01 is a dual mechanism of action investigational product that targets suppressed CB1 receptors and neurotransmitter dysregulation in the mesolimbic reward pathway. PP-01 is entering Phase 3 and has the potential to be the first-in-class treatment to mitigate the withdrawal symptoms experienced by many patients with cannabis use disorder (dependence/addiction). PP-01 is intended as a once daily oral product with a rapid onset of action and excellent safety and tolerability.

About PleoPharma, Inc.
PleoPharma, Inc. is a clinical stage development company in the neuropsych and addiction space focused on finding solutions for people suffering from cannabis addiction and other cannabis-related health problems.

The PleoPharma team includes a world class management team and board of directors who have produced multiple high value exits, >50 worldwide product approvals, and 100+ INDs.

For more information on PleoPharma Inc., please visit www.PleoPharma.com or email Dawn Halkuff, head of Investor Relations at [email protected].

This release includes ‘forward-looking statements’ regarding the operations of PleoPharma, Inc., actual results may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. All statements other than statements of historical facts contained herein are forward-looking statements that reflect the current beliefs and expectations of management of PleoPharma. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. PleoPharma does not undertake or accept any obligation or undertaking to release any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

SOURCE PleoPharma, Inc

LISBON, Portugal, Oct. 21, 2025 — Printr, the first chain-abstracted launchpad built for the memecoin era, today announced it has secured a total of $4.5 million in funding, alongside its official product launch.

Printr is the first project incubated and supported by Bybit Venture Studio – a new initiative dedicated to empowering visionary founders and high-potential early-stage projects in the Web3 ecosystem. Printr has also secured a $2 million seed extension from a strong lineup of investors including Mantle EcoFund, Mirana Ventures, L1D, Sfermion, Flowdesk, and prominent angel investors from LayerZero as well as the broader trading and memecoin communities. This builds on Printr’s earlier $2.5 million pre-seed round, backed by Axelar, Sui Foundation, Flow Blockchain, Draper Dragon, and Bitscale Capital.

As part of the announcement, Printr, along with Mantle and Byreal have entered into a strategic partnership, setting the stage for deep alignment across liquidity, discovery, and product surfaces. The partnership highlights the growing importance of token creation as a new onchain primitive, and paves the way for future integrations between Printr and Bybit’s multi-product Web3 stack.

Distribution Without Limits

Printr is solving one of crypto‘s biggest challenges: fragmented liquidity and user bases across chains. Traditionally, creators must choose a single chain at launch, forcing them to expand later through bridges and fragmented versions of the same token.

With Printr, creators can now launch tokens natively on one or multiple chains at once – including Solana, Mantle, Ethereum, BNB, Sui, Base, and dozens more. Paired with cross-chain swaps and one-click bridging, Printr unifies liquidity and communities from day one.

Fed, Co-Founder of Printr:
“This partnership with Bybit accelerates our goal to abstract away the complexity of launching and trading tokens across chains. With Bybit’s global reach, deep liquidity, and growing Web3 stack, Printr can scale token creation to every corner of crypto – starting from day one.”

Emily, Key Advisor of Mantle & Founder of Byreal:
“At Mantle and Byreal, we see token creation as the next frontier of onchain innovation. Printr’s chain-abstracted architecture brings that vision to life. This partnership connects Mantle’s modular infrastructure and Byreal’s liquidity engine with Printr’s creation layer, laying the foundation for seamless discovery, trading, and distribution. Through Bybit Venture Studio, we’re proud to support Printr in shaping the next phase of token launches.”

Printr’s chain-abstracted architecture is made possible by Axelar and LayerZero, two of the leading cross-chain infrastructure providers in Web3.

“The future of crypto will be defined by applications that reach users wherever they are,” said Georgios Vlachos, Co-founder of Axelar Network and Director at Axelar Foundation. “Printr is building exactly that kind of experience, making token launches culture-driven, not technology-driven. We’re excited to support Printr in bringing seamless liquidity and distribution across ecosystems.”

Starting today, users can access Printr at app.printr.money to:

• Launch tokens on one or multiple chains in just a few clicks
• Trade any asset into any token with built-in cross-chain swaps
• Move assets across chains and capture arbitrage opportunities across ecosystems
• Earn points and rewards for creating, trading, and referrals

The next era of token creation is here – and it starts on every chain.

About Printr

Printr is the first chain-abstracted token launchpad, built for the next generation of onchain creation. With Printr, anyone can launch tokens on a single chain or across multiple chains in just a few clicks – without writing any code. Printr combines one-click omnichain token creation, cross-chain swaps, and built-in bridging with a 90% revenue-share model and points program that rewards creators, traders, and referrers. Powered by bonding curves, Axelar and LayerZero, Printr takes memecoins beyond single-chain limits allowing memecoin creators to reach global liquidity, and scale faster than ever.

Media Contact

Lennon Tan, Head of Marketing at Printr

[email protected]

About Bybit Venture Studio

Bybit Venture Studio is a new initiative dedicated to empowering visionary founders and high-potential early-stage projects in the Web3 ecosystem. The Venture Studio provides strategic guidance, hands-on support, and access to Bybit’s comprehensive product suite – including Launchpad, Launchpool, DEX, Spot, Perpetuals, and Options listings, as well as deployment on Mantle Network. By leveraging Bybit’s global platform, network, and expertise, the Venture Studio aims to accelerate innovation and help builders bring transformative ideas to life.

For media inquiries, please contact: [email protected]

SOURCE Printr

LONDON, ON, Oct. 21, 2025 — PSD Citywide, an international leader in enterprise asset management software solutions, today announced it has received a strategic investment from Norwest, a global growth equity and venture capital investment firm, to accelerate its expansion across the U.S. and Canada. With this investment, PSD Citywide will continue its rapid expansion across North America, double down on product innovation, expand the team and continue to drive operational efficiencies for its municipal customers.

“The Citywide Platform empowers municipalities to overcome the challenges posed by aging infrastructure, budget constraints, inefficient processes and disconnected technologies,” said PSD Citywide Founder and CEO Matt Dawe. “What began as an industry publication has evolved into the most scalable, secure and purpose-built solution helping hundreds of municipalities manage their physical assets and provide a better citizen experience. We welcome Norwest’s deep expertise in government technology and their proven ability to partner with founder-led companies as we prepare for rapid expansion across the U.S. and Canada.”

Transforming How Municipalities Manage Assets, Budgets, and Citizen Services
The Citywide Platform includes:

• Five modular, cloud-native and fully integrated products designed for municipal operations
• Enterprise asset management (EAM); permitting, planning and licensing (PLL); budgeting and mapping (GIS) capabilities
• A mobile experience and robust API for greater flexibility
• An intuitive user experience with powerful functionality that gives end users access to the insights and tools they need to effectively manage key processes

PSD Citywide has helped communities manage over $400 billion in municipal assets. The platform’s design ensures each client receives a solution configured to best meet its specific needs. This proven approach has driven exceptional growth in the U.S. of more than 300% over the last year. The partnership with Norwest will allow the company to continue its strong growth in Canada while offering a significant opportunity to accelerate its expansion in the U.S. market.

“Municipal leaders can unlock tremendous value by digitizing core asset management workflows and deploying software designed specifically for the complexities of managing public infrastructure,” said Norwest Principal Chris Sondej. “PSD Citywide stands out with its purpose-built platform, deep customer relationships and consistent growth. Matt and the PSD Citywide team have demonstrated an exceptional commitment to helping municipalities manage their critical infrastructure and better serve their communities. With our team’s experience scaling GovTech SaaS platforms and our conviction in PSD Citywide’s roadmap, we’re excited to support the company’s continued expansion across North America.”

As part of the investment, Norwest General Partner Ran Ding, Principal Chris Sondej and Vice President Gabe Stauber will join the PSD board of directors.

EY Parthenon served as exclusive financial advisor for PSD. Stikeman Elliott LLP served as legal counsel for PSD. Osler, Hoskin & Harcourt LLP and Weil, Gotshal & Manges LLP served as legal counsel to Norwest. 

About PSD Citywide
PSD Citywide is a leading provider of enterprise asset management, maintenance, financial, GIS and permitting software solutions, along with advisory services. Offering the only purpose-built, fully unified cloud-based SaaS solution for municipal governments, PSD Citywide supports the management of over 500 clients across North America. With a multidisciplinary advisory team of Asset Management, Finance, Engineering and Municipal practitioners, combined with an in-house software development group, PSD Citywide delivers comprehensive solutions to ensure best-in-class service for its clients. For more information, visit www.psdcitywide.com.

About Norwest
Norwest is a global venture and growth equity investment firm managing more than $15.5 billion in capital. Since its inception, Norwest has invested in more than 700 companies and currently partners with more than 250 companies in its venture and growth equity portfolio. The firm invests in early- to late-stage businesses across key sectors with a focus on enterprise, healthcare and consumer. The Norwest team offers a deep network of connections, extensive operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest has offices in Menlo Park and San Francisco, Calif.; Mumbai, India; and Tel Aviv, Israel. For more information, please visit www.norwest.com.

SOURCE PSD Citywide

API-first platform structures contract data on-prem, works with the tools firms already use, and makes their existing AI significantly smarter — cutting contract review time by 80%

WASHINGTON, D.C., Oct. 21, 2025 — Syntracts, an API-first contract intelligence platform built for full on-premises deployment, today announced a $5.3M seed round led by Hyperplane, with participation from Khosla Ventures, Top Harvest Capital, and Fortitude Ventures, and continued support from existing investors Myriad Venture Partners and Point72 Ventures. The new funding will accelerate adoption across BigLaw and corporate legal teams, following a multi-year AmLaw 25 partnership awarded following rigorous competitive evaluations and Syntracts’ selection to A&O Shearman’s Fuse incubator.

Syntracts serves as a secure infrastructure layer that integrates seamlessly with firms’ existing workflows and AI tools. Through its API, teams can ingest documents, organize them into structured, searchable data, and query results directly inside their systems. By turning legacy contracts into reliable, searchable knowledge, Syntracts makes a firm’s existing AI tools smarter, faster and more accurate — all while keeping every piece of data private and on-prem.

“Our mission is simple: enable law firms to use AI that’s both private and verifiable,” said Doug Bemis, co-founder of Syntracts and former CTO at Uber AI Labs. “Firms don’t need another app — they need a secure data layer that powers their existing AI with clean, structured knowledge from their own contracts. That’s Syntracts: infrastructure that runs fully on-prem and makes what they already use smarter, faster, and more reliable.”

Through its secure API, firms can pull documents from systems like iManage, NetDocs or SharePoint and organize them into structured data. They can then send those results back into the tools they already use — from dashboards to AI assistants — while keeping every bit of information inside their own environment.

Unlike legal AI tools that rely on third-party APIs, cloud-hosted large language models (LLMs), or brittle prompt engineering, Syntracts delivers a fully controllable, privacy-first architecture. Its specialized models are fine-tuned using synthetic legal data derived from each client’s own documents, making their existing AI smarter, more accurate, and contextually aware. The result is structured, auditable outputs that plug seamlessly into real-world legal workflows — all delivered fully on-prem so nothing ever leaves the firm’s walls.

“In law, you shouldn’t have to choose between airtight privacy and answers that are consistent and reliable,” said Christopher Martin, co-founder of Syntracts. “We’re building the secure AI backbone for the legal industry — one that helps firms unlock the full value of their data safely and at scale. The backing from Hyperplane, Myriad Venture Partners, Khosla Ventures, and Point72 Ventures highlights how critical a privacy-first foundation is to the future of legal AI.”

While generative AI has shown promise in law, firms remain concerned about accuracy, privacy, and reliability. Syntracts cuts contract review time by at least 80% turning hours of work into minutes — while keeping all data inside the firm’s environment. Its structured system delivers answers lawyers can trust, with the consistency and control that generic prompting can’t match.

“As AI adoption accelerates across the legal and enterprise markets, the biggest challenge users face is accuracy and trust,” said John Murphy, co-founder and managing partner at Hyperplane. “What excites us about Syntracts is their approach to solving this through small, specialized language models trained on proprietary synthetic data. The platform seamlessly integrates into existing workflows and AI tools, delivering unrivaled accuracy, transparency, and privacy.”

“First-generation legal AI tools could read contracts, but they couldn’t understand them because they lacked the context of how deal points relate to each other within a transaction,” said Chris Fisher, founder and managing partner at Myriad Venture Partners. “Syntracts solves that with custom-trained models that capture not just terms, but the structure and relationships between those terms, delivering true deal intelligence. And they’re doing it entirely on-premise, which we believe is the only viable path for handling confidential transaction data.”

Momentum: Recognition and Customers
Syntracts was recently selected for the leading innovation program, A&O Shearman’s Fuse incubator, further validating its approach. Syntracts has secured multi-year partnerships with AmLaw firms following rigorous competitive evaluations, demonstrating its advanced, on-site architecture.

Why Syntracts

• API-first: Lets firms easily connect Syntracts to their existing tools — pull in documents, organize data, and send structured results back into their systems.
• Supercharge existing AI: Feed firm-specific structured data into the AI systems and assistants that firms already use to reduce hallucinations and increase precision.
• Structured intelligence, not prompts: Outputs are formatted for direct integration into legal workflows and KM databases.
• Total privacy: Models run fully on-prem; no data leaves client systems or touches third-party LLMs/APIs.
• Firm-specific models: Synthetic legal data built from each customer’s own documents, making existing data smarter, more searchable, and more reliable.

About Syntracts:
Syntracts is transforming contract intelligence with an API-first, on-premises AI platform that integrates seamlessly with existing legal workflows. Built for BigLaw and corporate legal teams, it lets firms run accurate, secure AI analysis on private documents — with zero data leaving their environment. Using synthetic data and fine-tuned legal models that augment existing AI tools, Syntracts delivers the transparency, verifiability, and privacy modern firms demand. Co-founded by former Uber AI Labs CTO Doug Bemis and Big Law veteran Christopher Martin, Syntracts combines deep AI and legal expertise to boost productivity, reduce risk, and set a new standard for secure legal AI. Learn more at https://www.syntracts.com/.

SOURCE Syntracts

BERN, Switzerland, Oct. 21, 2025 — HULO, a Dutch WaterTech startup using AI to detect leaks in water infrastructure worldwide, has raised a €2.3 million seed round to accelerate its global expansion. The round was led by VP Capital and LUMO Labs with participation of Vanagon, Rabobank, the FOM and the Netherlands Enabling Water Technology fund (NEW).

HULO’s SaaS-based platform uses pressure and flow data from existing utility systems to detect, localize, and prioritize leaks and anomalies. It combines AI and physics-based models to understand the dynamic behaviour of each unique network. The platform integrates seamlessly into existing utility operations, without the need for new hardware or district metered areas (DMAs).

“Water scarcity is emerging as one of the world’s most pressing environmental constraints, with around 30% of treated water lost globally, often through ageing water network infrastructure,” said Erica van Eeghen, Senior Manager Ventures, VP Capital. She continued, “HULO’s ability to detect leaks early, using advanced AI rather than expensive sensors, is exactly the kind of lean, scalable innovation that fits our investment lens. This is a domain where measurable environmental impact and efficiency go hand in hand. We’re glad to join forces with such thoughtful co-investors and a technically sharp founding team.”

HULO is active in the Netherlands, the EU, and the UK, and has taken first steps into Latin America. The new funding will be used to accelerate deployment in focus markets and expand HULO’s capabilities in AI, network analytics, cybersecurity, and customer success to further increase their global impact.

Dagmar van Ravenswaay Claasen, Senior Partner LUMO Labs highlighted, “Based on the measurable environmental impact they are already making: the company is on track to help save the equivalent of over 4 million Olympic-size swimming pools every year by 2030.”

HULO’s hardware- and network-agnostic approach leverages the data utilities already collect, eliminating the need for costly hardware or network segmentation. This results in fast, scalable, and cost-effective leak detection across a wide range of environments.

“The future of water infrastructure requires that digital innovation integrates with the operational reality of today’s networks,” said Robbert Lodewijks, co-founder of HULO. “We’re building solutions that are both powerful and practical — enabling water utilities to take action without overhauling their systems.”

Traditional methods rely on physical inspections, assumptions, or broad hydraulic modelling. HULO’s approach is driven directly by operational data. By continuously learning from real-time flow and pressure signals, the platform surfaces actionable insights where and when they matter most. It’s a fundamental shift: from reactive leak hunting to proactive, data-informed water management.

The Netherlands are renowned for their expertise and commitment to water management, but HULO’s international expansion and the participation of German venture capital fund Vanagon in their latest investment round, underlines the need for innovative water management is ubiquitous.

Water systems are critical infrastructure — and a resilient Europe depends on transparency and fast reaction to prevent malfunctions or even attacks. With 30% of drinking water in the EU lost due to leakages, the need for AI-powered monitoring is urgent. At Vanagon, we invest in AI-native DeepTech teams tackling exactly these challenges, and HULO is a great example: a team using cutting-edge digital tools to solve one of Europe’s most pressing infrastructure problems. – Axel Roitzsch, Co-Founder & General Partner Vanagon.

NEW-ttt and FOM have a focus on accelerating innovation in water technology and we are proud to be part of the success of HULO, a great example of Dutch innovation capacity originated from Wetsus, the institute for Sustainable Water technology in Leeuwarden. We believe HULO has both the team and the technology to make lasting impact in saving water globally. Sybo Zijlstra – Investment Manager

“Rabobank supports groundbreaking innovations that contribute to sustainable water management. Hulo.ai, developed within the innovation hub Wetsus in Leeuwarden – a strategic Rabobank partner – is creating technology that helps reduce global water losses. We proudly support their mission to make a lasting impact.”

VP Capital

About VP Capital

VP Capital is a single-family office based in Belgium and the Netherlands. The Van Puijenbroek family started their activities over 150 years ago. Our current strategy is an impact-first strategy that aims to contribute to biodiversity, the climate, and social equality, by focusing on regenerative, circular, biobased, net-zero, toxicity free and inclusive solutions.

Today we manage a diversified portfolio with an all-round team in various asset classes, including ventures. In our venture portfolio we focus on the domains energy transition, agrifood, clean technology, textile and built environment. VP Capital is B Corp-certified, and our CO2 reduction targets have been validated by the Science Based Targets initiative.

VP Capital: Driven by Impact

LUMO Labs

LUMO Rise Fund is a MEUR 100 multi-stage (Pre-Seed to Series A) impact-driven venture capital fund, with a proprietary startup coaching program for purpose-driven founders, who seek to bring technological innovations to the market to help solve social and environmental challenges.

LUMO Rise Fund invests in scalable and financially sustainable operating systems, infrastructures, and platforms based on and/or related to emerging and potentially disruptive technologies, such as Artificial Intelligence & Data, Blockchain, Internet of Things, Digital Security, and Extended Realities (AR/VR). The fund’s impact focus is best identified as the bottom-up crossroads between the following UN SDGs: Health & Wellbeing, Quality Education, Sustainable Cities & Communities, and Climate Action.

The primary investment region is Benelux and Germany, and secondary Nordics, Baltics and the Iberian Peninsula. LUMO Rise Fund is the successor fund of LUMO Fund II managed by LUMO Labs, founded in 2016 by former tech entrepreneurs Andy Lürling and Sven Bakkes.

Vanagon

Vanagon is a (pre-)seed fund based in Munich: Europe’s  DeepTech hub. We are purpose-built for sovereign-edge technology in Industrial, Nature, and Digital Infrastructure – to seize the €3T DeepTech opportunity in Europe. We are partners from day one to fuel the journey to Series-A and beyond.

New TTT & FOM

FOM
The Frisian Development Fund (FOM), initiated by the Province of Fryslân, is a regional investment fund supporting innovative SMEs. FOM provides risk capital to entrepreneurs in sectors such as Water Technology, Agrifood, High Tech Systems & Materials, Life Sciences & Health, and Maritime. In doing so, FOM helps innovative companies grow and strengthen the regional economy.

NEW-ttt
The Netherlands Enabling Water Technology (NEW-ttt) Fund is an initiative of Wetsus, Deltares, the University of Groningen and NOM. It combines top research and early-stage funding to accelerate promising water technology start-ups. The program focuses on four main themes: water purification, reuse of water and resources, production and storage of energy from water, and smarter management of water systems.

Not for publication:

For quotes, additional media or interviews with founders:

HULO Media contact:
Frans van Uffelen, MarCom director.
[email protected] / [email protected]
+31624438379

Photo – https://mma.prnewswire.com/media/2800528/Hulo_ai.jpg

SOURCE Hulo.ai

Seneca builds autonomous aerial systems that launch instantly, deliver powerful fire suppression, and use AI to locate and knock down fires before they spread

SAN FRANCISCO, Oct. 20, 2025 — Seneca, the resilience technology and infrastructure company, today announced its public launch and a $60 million financing round. The round, believed to be the largest venture capital round in fire technology to date, was led by Caffeinated Capital and Convective Capital, with participation from First Round Capital, Transition VC, Advance Venture Partners, Nextview Ventures, Bullpen Capital, Stepstone Group, DCVC, Offline Ventures, Roar Capital, and Slow Ventures.

Fire intensity in the United States has nearly more than doubled over the past two decades, costing the economy an estimated $1 trillion annually and putting 115 million Americans at risk. 2025 will be the most expensive and destructive fire year in U.S. history. The damage extends far beyond burned homes, reaching deep into the air we breathe, the water we drink, and the forests that sustain our way of life.

Seneca is building the first and only autonomous fire suppression system that includes autonomous suppression drones that carry >100 lbs, shoot with >100 PSI, launch from anywhere, use AI to navigate and knock down fires, and cut response times to under ten minutes. The modular aerial systems can be launched remotely, needing only an approximate fire location, and strike fast, targeting the critical window that determines whether a spark becomes a megafire. Built alongside U.S. fire leaders, Seneca’s technology additionally strengthens prescribed burns and fuel reduction efforts to help communities manage fire risk year-round.

“Firefighters are heroes who run into burning buildings and fly helicopters into hurricane-force winds to protect lives and property,” said Stuart Landesberg, Founder and CEO of Seneca. “Our hope is to empower firefighters in situations that were previously impossible, unsafe, or inefficient. The American way of life has always been about pioneering. Technology is how we will protect communities, preserve our environment, and create a more resilient civilization.”

Seneca was developed in collaboration with the world’s leading fire agencies and public safety partners, including San Bernardino County Fire, Aspen Fire Department, and other agencies across the American West. The company’s Advisory Board includes prominent fire service leaders, such as Dr. Lori Moore-Merrell, former U.S. Fire Administrator; John Mills, Founder and CEO of Watch Duty; and Rick Balentine, 25-year Chief of Aspen Fire Department.

“Rapid initial attack is the best chance we have to save money, property, and lives,” said Dan Munsey, Fire Chief of San Bernardino County Fire Protection District and Chairperson of the International Association of Fire Chiefs Technology Council. “In San Bernardino County we have a vision of keeping wildfire 100 square feet or less… this is a far departure from the industry standard of 10 acres or less. We can only achieve this ambitious goal with an ambitious vision. Seneca is a huge part of that vision.”

“A century of neglect and mismanagement has primed our forests and communities for catastrophic wildfire – meaning if we don’t catch fire quickly in adverse conditions we can rarely catch it at all,” said Bill Clerico, Managing Partner of Convective Capital. “Seneca’s vision for rapid, drone-based response is a critical missing capability that allows firefighters to conduct suppression operations when it is still feasible to do so. This should be considered essential for stakeholders ranging from fire agencies to utilities, to municipalities; the opportunity for impact is enormous.”

The company will use this funding to improve capabilities, harden the overall system, increase production, and roll out the first systems to the field to save lives during the 2026 fire season.

For more information, visit www.seneca.com.

About Seneca
Seneca builds advanced firefighting technology for situations that were previously unsafe, inefficient, or impossible. The company’s mission is to protect 500 million acres in the U.S. and allied nations by 2035.

SOURCE Seneca

• The company surpassed two million active credit customers and has consolidated its position as the fastest-growing digital financial platform in Latin America.
• This transaction was led by Kora, and built on an earlier investment by Televisa-Univision
• Plata has now invested over $1 billion in Mexico, reflecting the continued trust of global investors and the strength of its financial and technological model.

MEXICO CITY, Oct. 20, 2025 — Plata, the Mexican digital financial platform that obtained its banking license in December 2024 and awaits the authorization to begin banking operations(1), announced the completion of $250 million in new equity investment, which brings Plata’s valuation to $3.1 billion.

The transaction consists of a mix of a primary equity raise (the “Series B”) and a secondary equity transaction. This round was led by Kora with participation from Moore Strategic Ventures, Audeo Ventures, Spice Expeditions, Hedosophia, several U.S. and European family offices, and builds on an earlier investment by Televisa-Univision.

With more than $1 billion invested in Mexico, much of it backed by international capital, Plata now serves as a key bridge connecting global capital to Mexico’s vibrant financial ecosystem.  With this new equity round, Plata will continue to capitalize on a strong market backdrop and a rapidly expanding, yet underserved, financial services landscape in Mexico, where more than 60% of the adult population doesn’t have access to credit(2). Reflecting this growth potential, Plata has surpassed two million active credit customers in less than 30 months, solidifying its position as the fastest-growing digital financial platform in Latin America.

“The growth we have achieved in such a short time demonstrates a clear strategy and a shared conviction: build a strong institution from its foundations. This transaction reflects investors’ confidence, the strength of our technological model, and the talent we have assembled. We set out to create a digital bank built on innovation, operational excellence, compliance, and efficiency—and today, we are seeing the results of that effort,” said Neri Tollardo, Co-Founder and CEO of Plata.

“We believe Plata represents the new standard for digital banking in emerging markets,” said Nitin Saigal, Co-Founder of Kora. “In a very short time, the company has demonstrated impressive execution, combining technological innovation with a clear vision for financial inclusion. We are excited to continue strengthening our partnership and to support Plata in this new phase of growth.“

Since its founding, Plata has developed its own technological and operational infrastructure. The core banking system, designed by its in-house engineering team, enables a fully digital model—without branches—featuring automated risk management and 24/7 personalized customer service. This structure was built from the outset to fully comply with the requirements established by local regulators, including the Central Bank of Mexico and the Comisión Nacional Bancaria y de Valores (CNBV). The company continues its regulatory process to obtain formal approval to begin banking operations, and with that, to expand its range of products within a robust framework of control and security.

(1)  Plata received its banking license in December 2024 and is currently awaiting approval to start operations as a bank.
(2)  Instituto Nacional de Estadística y Geografía, Encuesta Nacional de Inclusión Financiera (2024).

About Plata:

Plata is a high-tech Mexican financial platform authorized with a Banking license. Plata’s promise in Mexico is to raise the standards of financial products and services through innovation, excellence in customer service, and greater benefits for people’s money. Plata is on the mission to transform the Mexican financial experience by overcoming the limitations of traditional banking. Backed by its own technology, Plata offers a simpler, safer, and more efficient financial experience.

With a team of over 2,500 employees, Plata has developed its own banking infrastructure and works with the support of AI, which allows the company to make a difference in the financial landscape. In two and a half years of operations in Mexico, Plata has achieved two million active customers of its credit product. platacard.mx 

SOURCE Plata

LOS ANGELES, Oct. 20, 2025 — KittyHawk, a technology investment firm dedicated to supporting innovative seed to late-stage pre-IPO companies, today announced the acquisition of Exit Ventures, an early-stage venture firm focused on renewable energy, AI infrastructure, and sustainable materials. As part of the transaction, Exit Ventures’ founder Paul Burgon will join KittyHawk as a Partner, bringing more than 30 years of investment and operating leadership to accelerate the growth of KittyHawk’s Frontier funds.

The acquisition strengthens KittyHawk’s position as a leader in frontier technology investing by expanding its reach into renewable energy and climate innovation. By integrating Exit Ventures with KittyHawk’s existing Frontier funds, the firm is enhancing opportunities for strategic exits and deepening its corporate investor network.

“The acquisition of Exit Ventures brings a highly complementary portfolio of energy, climate, and AI infrastructure companies and relationships that will immediately strengthen KittyHawk’s platform,” said Will Weisman, Founder and Managing Partner of KittyHawk. “By combining our firms, we’re expanding our reach into some of the most critical frontier markets. Paul’s proven ability to create strategic exits and his unmatched network of corporate and strategic investors will be invaluable in accelerating outcomes for both our new and existing founders and investors. This combination positions KittyHawk at the forefront of next-generation energy and climate innovation.”

Paul Burgon has led nearly 100 M&A and corporate venture capital investments and exits worth over $3 billion. He co-created the Danaher acquisition and corporate venture system, recognized as one of the most successful in the U.S. His career spans senior leadership roles at Danaher, Steel Partners, and SWK Holdings, as well as serving as CEO of a climate tech startup that achieved a successful exit. Through Exit Ventures, Paul built a track record of advancing renewable energy and sustainable technologies, often in partnership with corporate co-investors.

“I am honored to join KittyHawk and look forward to collaborating with this amazing team,” said Paul Burgon. “I was drawn to KittyHawk’s commitment to highly disruptive technologies that address critical global issues and massive markets. I’m especially excited to bring the Exit Ventures portfolio into KittyHawk, where these companies will benefit from the firm’s global platform and resources. Together, we can accelerate commercialization of critical technologies, create meaningful liquidity for founders and investors, and drive real impact.”

For more information about KittyHawk, please visit www.kittyhawkvc.com.

About KittyHawk

KittyHawk is a global investment firm focused on leading-edge companies from seed stage to pre-IPO. Through its Frontier and Secondaries strategies, the firm partners with mission-driven entrepreneurs to build transformative organizations. Headquartered in Los Angeles, KittyHawk has a presence in San Francisco, Salt Lake City, Austin, New York, London, the UAE, Riyadh, and Australia.

Contact: [email protected]

SOURCE KittyHawk