Portable, AI-enhanced Radar Products for Counter UAS

BURLINGTON, Mass., Oct. 15, 2025 — MatrixSpace, a leader in portable AI-enhanced radar counter drone sensing technology, announces the completion of its $20 million Series B funding round. This raise represents a significant valuation increase over the Series A of May 2023 and brings MatrixSpace’s total funding to date to $58 million. The completion of this round also introduces meaningful new investors, including L3Harris, to the MatrixSpace team.

The round was co-led by The Raptor Group and OTB Ventures. The Raptor Group is a Boston-based venture and growth fund investing in deep technology across a variety of industries. OTB Ventures is a leading European investor focused on dual-use defense and enterprise technology, with deep ties to both European industry and NATO.  

“We’re proud to welcome new investors OTB Ventures and industry powerhouse L3 Harris to MatrixSpace, along with the robust engagement of our existing investors. This new capital and industry partnerships position us extremely well for our next chapter of growth and cements our leadership in portable CUAS, or counter drone systems,” comments Gregory Waters, co-founder and CEO of MatrixSpace.

“By combining advanced radar and AI at the edge, MatrixSpace sets a new standard for edge sensing, redefining situational awareness for both civil and defense applications. We’re proud to back the team shaping how autonomous systems will perceive the world,” comments Marcin Hejka, the co-founder and General Partner of OTB Ventures.

MatrixSpace Radar delivers affordable, AI-powered situational awareness in all conditions, including low-light and low-visibility. With leadership AI Edge and Cloud software for real-time classification, history, and predication capabilities organizations can create safe airspace rapidly and robustly. 

About MatrixSpace
MatrixSpace delivers advanced AI-enabled portable CUAS (counter drone) solutions that operate anywhere and can be rapidly moved. Its compact, ultra-low power radar systems provide persistent detection and classification for airspace, perimeter, and object monitoring in dynamic outdoor environments. www.matrixspace.com.

Contact:

MatrixSpace
[email protected]

LinkedIn @MatrixSpaceAI
Twitter @MatrixSpaceAI
BlueSky @matrixspace.bsky.social

SOURCE MatrixSpace

Protego Ventures leads oversubscribed round alongside strategic energy investors Adara Ventures and a Leading Latin America Transmission Operator

TEL AVIV, Israel, Oct. 15, 2025 — Prisma Photonics, a deep-tech company transforming existing optical fiber into the world’s most advanced infrastructure monitoring platform, announced today the closing of an oversubscribed $30M growth round, bringing its total capital raised to $80 million. The round was led by Protego Ventures, with participation of Adara Ventures and the investment arm of a leading Latin America Transmission operator, alongside continued support from Insight Partners, Chione Switzerland, and SE Ventures (Schneider Electric’s venture arm).

Prisma Photonics’ AI-driven Hyper-Scan Fiber-Sensing^™ platform has already been deployed across thousands of kilometers of critical infrastructure worldwide, among them are 15 Tier-1 Transmission System Operators in the U.S. and Europe. By converting existing optical fibers into massive, real-time sensor networks, Prisma Photonics combines advanced optical fiber sensing with proprietary artificial intelligence (AI) to detect, classify, and localize events with meter-level accuracy across hundreds of kilometers—whether it’s an intrusion at a secured perimeter, a congested power grid, a wildfire threat along a high-voltage power line, or protecting long remote boundaries. As the system processes more data from diverse deployments, its AI models continuously improve, creating a powerful network effect and long-term technology moat.

“Prisma Photonics has demonstrated exceptional innovation in transforming existing fiber infrastructure into powerful monitoring systems,” said Lee Moser, Managing Partner at Protego Ventures. “Their proven technology platform addresses critical needs across multiple infrastructure sectors, from physical security to grid resilience. We’re excited to support their expansion as they protect increasingly vital infrastructure worldwide.”

The raise will accelerate Prisma Photonics’ scale-up journey and growth in the U.S. and Europe and fuel its expansion into Latin America, where utilities are racing to integrate renewable energy while addressing aging transmission systems.

“Prisma Photonics has already proven its value to U.S. and European utilities,” said Alberto Echeverri, Partner at Adara Ventures. “Now it’s poised to support operators in emerging markets where there is tremendous potential for advanced grid technologies. We are proud to support the team as they work to unlock new capacity, reduce risks, and drive the energy transition forward.”

“Critical infrastructure everywhere is under strain—whether from security threats, extreme weather, or the energy transition,” said Dr. Eran Inbar, CEO of Prisma Photonics. “Our AI capabilities allow us to translate raw optical fiber signals into actionable intelligence in real time. That means our technology can protect a military installation one day, and optimize renewable energy integration the next. This funding accelerates our mission to make the world’s infrastructure safer, smarter, and more resilient.”

About Prisma Photonics
Prisma Photonics revolutionizes infrastructure monitoring by using optical fibers to monitor critical infrastructure like power grids, oil & gas pipelines, secured compounds, and military perimeters across thousands of kilometers—eliminating the need for traditional sensors. Its Hyper-Scan Fiber-Sensing^™ technology, powered by advanced AI and machine learning, enables operators to detect, classify, and respond to threats with unprecedented accuracy and speed. With every new deployment, Prisma Photonics’ AI models learns and improve, creating a compounding advantage and defensible data moat. Founded in 2017 and headquartered in Tel Aviv with offices in the United States and Europe, Prisma Photonics is led by an expert team with a proven track record in building and scaling deep-tech companies.

About Protego Ventures
Protego Ventures, founded by Lital Leshem and Lee Moser, is an Israel-based venture capital fund dedicated to addressing today’s most urgent defense and security challenges. Against the backdrop of growing geopolitical instability in the Middle East and Eastern Europe, the global defense landscape has shifted dramatically, creating an urgent demand for innovative solutions. As a pioneering fund in this sector, Protego Ventures invests in early-growth companies developing breakthrough technologies across key areas, including aerial defense, AI and machine learning, critical infrastructure, advanced sensors, drones, UAVs, and USVs. For more information, visit: https://www.protego.vc/

About Adara Ventures
Adara Ventures is a leading European venture capital firm specializing in deep tech investments. Founded in 2005, the firm manages over €350 million in assets and has a track record of helping high-potential innovators achieve global success. Adara’s portfolio focuses on innovative companies in areas such as cybersecurity, data applications and infrastructure, hardware components, digital health, space tech, and energy transition technologies. For more information, visit www.adara.vc.

Media Contact:
Sarah McAllister
[email protected]
Mahoney Communications Group
212-220-6045

Logo – https://mma.prnewswire.com/media/2796219/prisma_logo.jpg

NEW YORK, Oct. 15, 2025 — Intelo.ai, the company building the future of retail through its Collaborative Intelligence platform, today announced the closing of a $2 million financing round. The round was led by Illuminate Ventures, a premier venture capital firm focused on B2B enterprise software.

This capital infusion will accelerate the development and deployment of Intelo.ai’s innovative platform for merchandising and planning. The company is pioneering the use of specialized AI agents that work alongside retail teams, augmenting their skills to dramatically improve forecasting, assortment planning, and inventory management. This funding will be used to expand the product and engineering teams and accelerate the company’s go-to-market strategy as it builds towards the future of retail.

“Intelo was born from a deep respect for the art and science of retail. I’ve seen firsthand how pivotal merchants, planners, and buyers are, and our passion is to build the technology they truly deserve. Our vision for Agentic AI is to elevate these roles, transforming them from data analysts into strategic visionaries. We’re giving every retail leader a powerful AI partner to handle the ‘how,’ so they can reclaim their time to focus on the ‘what’,” said Roopesh Nair, Co-CEO of Intelo.ai

“Retail merchandising and planning have been underserved by true innovation for too long. We are grateful for the confidence that Illuminate Ventures and our investors have placed in us to change that,” said Jeff Fish, Co-CEO of Intelo.ai. “This partnership validates our vision for a future where human expertise is amplified by powerful AI agents, working in concert to make smarter, faster, and more profitable decisions. This funding allows us to accelerate our mission to move Intelo.ai forward and deliver a new era of collaborative intelligence to the retail industry.”

Illuminate Ventures, known for backing transformative enterprise technologies, recognized the significant market opportunity and the unique approach Intelo.ai is taking to solve longstanding challenges in retail.

“Intelo represents exactly the kind of further along company Illuminate looks for; experienced founders with deep domain expertise, solving a problem that offers near instant ROI,” said Cindy Padnos, Managing Partner of Illuminate Ventures. “Their deep expertise in both retail and technology gives them a unique insight into the industry’s pain points. The concept of AI agents that collaborate with planners and merchandisers is a game-changer. Intelo.ai is not just building another analytics tool; they are creating a true system of intelligence that will transform core retail operations. We are thrilled to partner with them to help build a category-defining company.”

Intelo.ai’s platform moves beyond static dashboards and traditional analytics by introducing AI agents that can reason, recommend, and automate complex workflows. This “Collaborative Intelligence” approach empowers retail teams to navigate volatile market trends, reduce waste, and optimize margins with unprecedented agility and precision.

About Intelo.ai

Intelo.ai is building the future of retail with its Collaborative Intelligence platform for Merchandising & Planning. The company’s innovative AI agents work alongside human teams, augmenting their capabilities to master the complexity of modern retail. By unifying data and empowering collaboration between humans and AI, Intelo.ai helps retailers optimize assortments, improve forecasts, and drive profitable growth.

About Illuminate Ventures

With offices in Oakland, CA, and Seattle, WA, Illuminate Ventures (www.illuminate.com) invests at the Seed stage across the trillion-dollar B2B AI software market. Since 2010, the firm has led early investments in market leaders such as Xactly, BrightEdge, Contentstack, and Arkestro, gaining two IPOs and nearly a dozen M&A exits. Illuminate backs “further-along” founders who combine deep domain expertise with early market traction. Led by experienced operators and investors, the firm is often the first institutional partner—providing capital, networks, and hands-on expertise to help founders accelerate growth and build category-defining companies.

Media Contact:

Intelo Labs, LLC
[email protected]
intelo.ai 

SOURCE Intelo.ai

Expanded Leadership Team Announced

NEW YORK, Oct. 15, 2025 — Town Hall Ventures announced today that it is beginning the investment program for its fourth fund, with approximately $440 million of capital commitments. The new fund will further the firm’s vision of leveraging the power of AI and other innovations to transform healthcare delivery for underserved communities in the U.S..

Since its founding in 2018, Town Hall Ventures has invested in 42 companies across launch, venture and growth stages. This portfolio now reaches across 1 in 5 Americans, bringing the latest innovations and most comprehensive care models to individuals and communities often left behind by the healthcare system. Town Hall and its network of partners will deploy Fund IV to help healthcare companies bring new technologies to the communities facing the biggest roadblocks to care first.

“With Fund IV, we will accelerate our mission by backing founders and technologists who are using AI as a core capability to lower costs, improve outcomes, and expand access to high-quality care for tens of millions of people underserved by the healthcare system,” said Meera Mani, MD, PhD, General Partner of Town Hall Ventures. 

Investors have recognized the importance of this mission. “The obsession that the Town Hall team has with turning mission into business alpha has made it easy for me to join them in all four of their funds”, said Limited Partner John Doerr, “Population need and big business opportunities aren’t the same thing. It takes a special group of people to see that intersection and turn it into reality.”

Leadership Team Expansion

With current partners Andy Slavitt, David Whelan, Meera Mani and Anna Fagin, Town Hall Ventures has announced key leadership team additions alongside Fund IV:

• Catherine Olexa-Meadors has joined as Head of Partnerships and Growth. Drawing on healthcare startup and scaling experiences with Aledade and Remedy Partners (now Signify Health), she will focus on accelerating portfolio company success and deepening engagement across our network.
• Will Stokes, Co-Founder of Strive Health, has rejoined Town Hall to lead Hatch, the firm’s company-creation studio, which builds transformational healthcare businesses in collaboration with the Town Hall network.

With Fund IV, Town Hall is positioned with both the resources and leadership strength to back the next generation of industry-defining healthcare companies.

About Town Hall Ventures

Town Hall Ventures is a venture capital firm with $1.4 billion AUM that invests in cutting edge care models and technologies to transform healthcare for underserved communities. The firm partners with and supports visionary entrepreneurs who are redesigning care delivery, harnessing technology, AI and data, to create scalable solutions that improve health outcomes while lowering costs. Town Hall equips founders with the insight and relationships needed to scale — combining deep policy expertise with decades of operating experience and trusted access to health systems, payors, and partners who accelerate adoption. Notable investments have included Thyme Care, Strive Health, Marble Health, Arine, Qualified Health, Ambience Healthcare, Habitat Health and Cityblock Health. For more information, visit https://www.townhallventures.com/.

SOURCE Town Hall Ventures

NEW YORK and HOUSTON, Oct. 15, 2025 — Grafine Partners (“Grafine”), a specialized investment firm that seeds and co-invests alongside emerging private equity managers with deep sector expertise and proven track records, today announced a strategic partnership with Amberjack Capital Partners (“Amberjack”). Amberjack, headquartered in Houston and run by Managing Partner Jason Turowsky, is a private equity firm that makes control investments in lower middle market businesses within the Infrastructure & Industrial Services and Waste & Environmental Services sectors. Financial terms of the partnership were not disclosed.

Elizabeth Weymouth, Founder and Managing Partner at Grafine, commented, “Jason and the Amberjack team have built a distinctive private investment platform. They exemplify the experienced and entrepreneurial investors we seek to partner with – those pursuing differentiated strategies that seek to generate strong, risk-adjusted returns. We are thrilled to support Amberjack in their next phase of growth.”

“This strategic partnership with Grafine will enhance our ability to continue growing as a firm and investing in the lower middle market critical infrastructure services sector,” said Mr. Turowsky. “This sector includes a diverse range of businesses with compelling opportunities for growth, driven by secular tailwinds such as the need to modernize aging assets, reshore U.S. production, and meet increasing power demand.”

Mr. Turowsky added, “Grafine is a true strategic partner to us — their experience, insight, and global network will add value beyond capital, accelerating Amberjack’s growth.”

Amberjack partners with entrepreneurs, managers, and business owners – typically as the first institutional capital provider – bringing company-building expertise to drive growth and long-term value creation. The firm focuses on building institutional-quality companies by providing strategic capital, enhancing operational efficiency, implementing governance best practices, and strengthening leadership teams.

Amberjack represents the final investment in Grafine Capital I, Grafine’s inaugural seeding strategy, which closed in early 2024 with approximately $600 million in total capital commitments. In addition to its seeding strategy, Grafine also has a co-investment and direct investment platform.  

Kirkland & Ellis served as legal advisor to Grafine. Davis Polk & Wardwell LLP served as legal advisor to Amberjack.

About Grafine Partners

Grafine Partners, founded by Elizabeth Weymouth, is an alternative investment management firm created to meet the needs of sophisticated institutional investors seeking innovative approaches to invest private capital with a focus on alignment of incentives. Grafine’s differentiated focus allows it to source unique investment opportunities and execute on direct deals across a range of industry sectors, geographies, and capital structures that align with the evolving needs of its institutional investor network. Through a pioneering investment approach, Grafine acts as a principal investor to seed and build private investment firms alongside the next generation of talented private market investors and operating partners. For more information, please visit www.grafine.com.

About Amberjack Capital Partners

Amberjack Capital, headquartered in Houston, TX, is a private equity firm that invests in and partners with entrepreneurs and business owners to build market leaders serving the industrial, infrastructure and environmental end markets. Often the first institutional investor in founder-led companies, Amberjack has a particular focus on supporting high performing companies undertaking strategic or transformative initiatives.

Media Contacts

For Grafine Partners
Zach Kouwe/Jansel Murad
Dukas Linden Public Relations
[email protected]

For Amberjack Capital Partners
Alex Jeffrey
Gasthalter & Co.
[email protected]

SOURCE Grafine Partners

ST. MORITZ, Switzerland, Oct. 15, 2025 — The CfC St. Moritz, a highly curated digital assets and blockchain conference for investors and decision-makers, which is set to return from January 14-16, 2026, has announced additions to its speaker lineup.

The updated speaker list includes:

• Brad Garlinghouse, CEO of Ripple
• Lily Liu, President at Solana Foundation
• Fred Thiel, Chairman & CEO at MARA Holdings
• Sheila Warren, Chief Executive Officer at Project Liberty Institute; Chief Strategy & Operations Officer at Project Liberty
• Carlos Domingo, Founder & CEO at Securitize
• Talia Klein, Managing Director & Head of Wealth Management Services at the DTCC
• Anton Katz, Co-Founder & CEO at Talos
• Ambre Soubiran, CEO at Kaiko
• Michael Higgins, International CEO & Global Head of Corporate Development at Hidden Road
• Teresa Goody Guillén, Partner at Baker & Hostetler LLP
• Javier Rodriguez, CCO at XBTO
• Robinson Burkey, Co-Founder at Wormhole Foundation
• John Nahas, Chief Business Officer at Ava Labs
• Amar Kuchinad, CEO at Copper
• Evgeny Gaevoy, Founder & CEO at Wintermute        

Nicolo Stöhr, CEO of the CfC St. Moritz, said: “I’m delighted to announce our second group of speakers, each bringing unique expertise across crypto, regulation, traditional finance, and innovation. The breadth of these speakers underscores our goal to foster a truly integrated dialogue among the most influential voices in the ecosystem. As we approach 2026, I am confident that CfC St. Moritz will once again be the place where ideas converge, giving key leaders the platform they need to define the course for the year ahead in what is shaping up to be a momentous time.”

Held at Suvretta House, nestled in the Swiss Alps, the CfC St. Moritz brings together global industry experts, business leaders, and regulators from across crypto, finance, and technology to discuss the most prevalent issues and trends for the year ahead. There are only 250 places available for participants, and seats are allocated based on strict criteria, ensuring a productive environment for the most important figureheads in the tech, finance, crypto, and policy industries. Submissions for applications will open on October 15, 2025, and interested parties can visit the website for more information.

Sheila Warren, CEO of the Project Liberty Institute and Ambassador to the CfC St Moritz, said: “The 2026 edition of CfC St. Moritz comes at a defining moment for the digital assets industry. As global interest accelerates and regulatory frameworks take shape, this gathering offers a rare opportunity for leaders across finance, policy, and technology to come together, share insights, and help shape the next phase of the industry. I’m looking forward to another year of meaningful dialogue, new connections, and real momentum.”

Before the main conference begins, the CfC St. Moritz will once again host its signature Pre-Opening on January 12-13, 2026, offering attendees a relaxed, informal environment to connect and network ahead of the core program. Participants will have the opportunity to choose from a curated selection of alpine activities, from skiing and snowshoeing to spa experiences and private lunches, set against the breathtaking backdrop of the Engadin Valley. This unique tradition has become a hallmark of the CfC St. Moritz experience, setting the tone for meaningful conversation, connection, and collaboration.

About the CfC St. Moritz

The CfC St. Moritz is an intimate circle of hand-picked opinion leaders and investors in the private and unique setting of the Swiss Alps. The yearly application-only conference fosters a culture of genuine connection and deliberately admits a maximum of only 250 international UHNWI, family offices, funds, and institutional investors, uniting the traditional finance sector and the crypto industry. The CfC St. Moritz was founded in 2017 and has since conducted seven in-person conferences in St. Moritz, one in Half Moon Bay, California, two virtual conferences during the pandemic, and several smaller events.

www.cfc-stmoritz.com  | LinkedIn | Twitter | Instagram

SOURCE CfC St. Moritz

SAN FRANCISCO, Oct. 14, 2025 — We are delighted to announce Ren Crypto Fish’s new role at Electric Capital as a General Partner. Ren exemplifies our engineering-lead investment approach. He combines technical depth with investment insights – using his understanding of protocol design, security, and engineering talent to spot and back high-conviction opportunities at the frontier of technology.

Electric Capital’s Approach: We hire engineers, not investors
We have always believed the next generation of iconic venture firms will be led by software engineers because all markets will be crypto-enabled. As value becomes digital, new technologies to transfer and aggregate value will naturally emerge. Decentralized exchanges, on-chain treasuries, and algorithmic markets are demonstrating how liquidity, risk, and value can move transparently across borders and time zones.

Engineering capability and technical understanding are essential to helping founders succeed on these open platforms. VCs will need expertise in areas such as execution systems, governance mechanisms, code security, and liquidity provisioning.

In the on-chain world, capital deployment is not only software-enabled, it is only possible with software. To invest in a financial system that runs on code, we must build software ourselves to interface with this new world. Electric Capital’s engineering team helps deploy capital, participate in protocols, perform technical diligence, and harness custom data sources to inform investment decisions.

Ren’s career began as a Quantitative Researcher at Citadel where he built infrastructure from the ground up for oil and natural gas markets, incorporating information at the deepest level of granularity to drive market decisions. This experience gave him deep intuition for liquidity, volatility, and system design. He brings that expertise to crypto, where on-chain markets are evolving faster than any prior financial system.

From a cold DM to shaping the future of crypto markets
Ren originally found Electric Capital through a cold DM on Twitter in April 2021 asking about developer data. What began as a thoughtful question turned into years of collaboration. Ren’s intellectual curiosity and commitment to understanding how crypto, fintech, and compute markets evolve have made him a core part of how we invest.

Ren is deeply technical and joined us as a software engineer. He co-created Codeslaw, the open search smart contract tool used by hundreds of security researchers in crypto. He co-authored a paper analyzing the game theory of Bitcoin consensus mechanism, its dynamics during consensus changes, and continues to contribute to “Bitcoin Consensus Analysis Project.” He developed Smart Contract Genealogy Analysis with methods to detect novel logic in deployed smart contracts by fingerprinting control flow graphs used in Electric Capital’s Developer Report to study contract evolution across EVM chains. He has built internal systems for monitoring liquidity and developer activity across ecosystems. Ren is also clearly crypto-native. He is perhaps the only pseudonymous general partner at an institutional venture capital firm. All of this has made him tremendously impactful as a member of our investment team and tremendously valuable as a collaborator with founders in the ecosystem.

Ren has been instrumental in our investments in Solana, Monad, Unto, Ellipsis, Kuru, and Asula, among others. His insights on market microstructure, execution pathways, and the interplay between code and capital have shaped how we think about this new generation of networks.

Ren consistently pushes our thinking on how technology, liquidity, and governance intersect. His analyses of validator incentives, market depth, and cross-domain composability inform both our investment decisions and how we engage with the broader crypto community. We are grateful to have him with us. We know the founders he works with feel the same way.

Welcome Ren, our newest General Partner at Electric Capital.

About Electric Capital

Electric Capital is a top early-stage venture firm that invests in the next generation of iconic frontier technology founders. With over $3B in assets under management, we leverage deep expertise in cryptography, distributed systems, and machine learning to identify and support founders shaping the future.

We’re often the first check into transformative companies. We invest at the idea stage and partner with founders through launch and scale. Our portfolio includes category-defining projects like Aven, Bitnomial, Bitwise, Ellipsis, Kraken, Magic Eden, Monad, NEAR, Solana, and Re. Prior to Electric, our partners were early investors in companies like Airtable, Anchorage, Boom Supersonic, Color Genomics, Cruise, Figma, Material Security, Newfront Insurance, Notion, and Pulley.

Electric team members have collectively started eight companies (six acquired), shipped products used by billions of people, run billion-dollar business units, invested in 50+ startups that have a cumulative market cap of $50B+, and traded billions in esoteric derivatives. We partner actively with founders to solve complex technical and strategic challenges. Our offices are in San Francisco, New York, Toronto, and Tokyo. Find us at www.electriccapital.com.

Contact:
[email protected]

SOURCE Electric Capital

Spun out from Arup, Class 3 leverages deep engineering expertise with advanced modeling to deliver unprecedented clarity for decision-makers managing climate risk

SAN FRANCISCO, Oct. 14, 2025 — Class 3 Technologies (Class 3), a startup pioneering the next-generation of climate risk and resilience modeling for the built environment, today announces the close of its $3.5M seed round led by Powerhouse Ventures alongside Sustainable Future Ventures and Tailwind Futures. Spun out of the global engineering and built environment consultancy Arup, Class 3 exits stealth with Iris — a first-of-its-kind platform delivering actionable, building-level insights to help organizations quantify and manage the growing threat of climate-driven disasters.

Beyond reporting, confidence to take action

A growing number of organizations that operate, own, or invest in properties want to limit their potential impact to catastrophic events and protect their people, property, and businesses. They recognize that legacy tools built for financial reporting do not provide enough details to make critical real estate or operational decisions. While high-quality engineering assessments exist, they are cost-prohibitive at scale, limiting accessibility and impeding needed progress on global risk reduction. A revolutionary approach that delivers unprecedented accuracy and scalability at the building level was necessary to equip decision-makers with the intelligence to take action with confidence.

Built on two decades of frontline engineering and building design experience, Iris represents a step-change in how climate risk can be measured and managed. While traditional platforms rely on high-level projections or insurance-based loss averages, Iris translates state-of-the-art engineering methodologies into detailed vulnerability assessments and resilience strategies tailored to the unique characteristics of each building.

Class 3’s founding team brings unparalleled expertise in risk modeling, climate resilience strategy, and building engineering design and performance. CEO Ibbi Almufti, a licensed professional and structural engineer, previously led the Risk and Resilience practice at Arup, where he helped shape national and international approaches to quantify and reduce climate and seismic risk. The team is rounded out with experience in venture building and Enterprise B2B SaaS.

“We’re here to catalyze resilience action at scale,” said Ibbi Almufti, Founder and CEO of Class 3. “To measure resilience accurately we had to develop new damage and loss models built on first principles of engineering, down to the level of individual building components. With Iris, organizations can finally quantify building vulnerability and risk properly and simulate the benefits of resilience interventions to act decisively.” 

Powerhouse Ventures, an early backer of transformative climate software, led the round. “Iris is an innovative new software platform that will change the way organizations manage and protect their building and infrastructure portfolios,” said Marie Thompson, Partner at Powerhouse Ventures. “We believe Class 3’s team and technology uniquely position them to lead the next generation of resilience planning.”

Engineering at the Core, Resilience at Scale

Class 3 was born out of the world-class innovation environment at Arup, where risk and resilience experts collaborated with engineers to design buildings that can withstand earthquakes, extreme weather, and other physical hazards. Iris embodies Arup’s engineering DNA, turning deep technical expertise into a digital platform that simulates physical impacts, quantifies structural vulnerability, and tests resilience measures with precision and clarity. Recognizing Iris’s potential to drive climate resilience globally, Arup Ventures spun out Class 3 as an independent company to scale its reach. Arup Ventures supports the incubation, acceleration, scaling and commercialization of early-stage companies seeking to redefine and transform the built environment for the better.

“Class 3 translates engineering excellence into accessible software for climate resilience,” said Ilana Judah, Americas Climate and Sustainability Leader at Arup. “This launch is an exciting milestone for Arup Ventures and we will continue building on this legacy, leveraging Iris to continue to deliver the best-in-class risk and resilience consultancy work that remains core to who we are.”

Already in use by leading tech companies, investors, developers, real estate owners, insurance brokers, and consultants, Iris has been quietly deployed during the company’s stealth phase to support risk analysis and resilience strategies for a wide range of building portfolios and asset types. Today, decision-makers trust Iris for more accurate risk assessment, site selection, due diligence of acquisitions, investment in upgrades for existing portfolios, and new design and construction choices.

To learn more, visit www.class3technologies.com or follow Class 3 Technologies on LinkedIn.

Media Contact
Rebecca Birmingham
Class 3 Technologies
[email protected]

Investor Relations
Ibbi Almufti
Class 3 Technologies
[email protected]

SOURCE Class 3 Technologies

Leading AI document intelligence platform secures new funding led by Andreessen Horowitz, bringing total funding to over $100M in less than one year

SAN FRANCISCO, Oct. 14, 2025 — Reducto, the leading AI document intelligence platform, announced a new $75M Series B funding round. The round was led by Andreessen Horowitz, with participation from existing investors Benchmark, First Round Capital, BoxGroup, and YCombinator. This follows the company’s April 2025 Series A round of $24.5M and brings Reducto’s total funding to date to $108M.

Since its founding two years ago, Reducto has pioneered a new standard for document understanding by combining traditional optical character recognition (OCR) with modern Vision-Language Models (VLMs), enabling systems to read documents as a human would. Building on that foundation, the company has continued to push the frontier of how companies interact with unstructured data with releases for advanced parsing, splitting, structured document extraction, and the industry’s first AI document editing API.

“Documents contain some of the most valuable data in most industries—from healthcare to finance to logistics. Yet until now, they’ve been a bottleneck for making AI useful for real enterprise use cases,” said Adit Abraham, co-founder and CEO of Reducto. “Our vision is to build the trusted layer that connects messy, real-world data with language models—so that AI can reason over the world as it really is, not just the text that’s clean and easy.”

Since announcing their Series A 5 months ago, Reducto’s monthly processing volume has grown by more than 6x, processing close to a billion pages of data for many of the world’s leading technical teams. Customers range from fast growing AI-native startups, including Harvey, Rogo, and Scale AI, to global financial institutions and Fortune 10 enterprises. These companies rely on Reducto to handle their most complex and mission-critical document workflow, such as, converting pdfs with redlines to text in legal workflows, extracting complex charts for financial due diligence, or high-stakes figure extraction for healthcare decisions.

“Reducto has become a magic ingredient that modern AI companies build with when it comes to large scale document workloads,” said Jennifer Li, General Partner at Andreessen Horowitz. “The team not only anticipated the rise of vision language models, they’ve continuously pushed the field forward with first-party research, elegant product experience and robust infrastructure that enterprise customers love.”

Reducto’s platform already powers the end-to-end lifecycle of unstructured data, and creates LLM-ready inputs for any use case. These capabilities are delivered through both a developer-friendly API and Reducto Studio, an interactive workspace for building, evaluating, and deploying pipelines.

Reducto is now making reliable document ingestion available to everyone building with AI. The company announced that it’s introducing a new flexible pricing structure for startups and innovators who want access to the same best-in-class infrastructure used by leading enterprises. These options lower the barrier for early-stage teams and researchers, helping them start fast today, and grow with Reducto as their dedicated ingestion team for the long run.

The $75M Series B funding will accelerate development across model research and product capabilities,  and scale the company’s adoption across both enterprise and the next generation of AI teams. “Our current customers love us for our best-in-class accuracy, and we intend to continue pushing the frontier of document intelligence for them.” said Raunak Chowdhuri, co-founder and CTO of Reducto.

“Reducto is at the inflection point every ambitious builder dreams of—where the technology is proven, the market demand is exploding, and the opportunity to make an impact is massive,” said Chetan Puttagunta, General Partner at Benchmark. “If you’ve ever wanted to join a company right as it defines a new category, this is that moment. Reducto is becoming the indispensable infrastructure layer for AI, and the people who join now will help shape how the world’s most important industries adopt this technology.”

To learn more, visithttps://reducto.ai or explore open roles at https://reducto.ai/careers.

About Reducto
Reducto  is the most accurate solution for turning complex documents into AI-ready inputs. The team from MIT built state of the art vision models that read documents like humans do, solving a critical bottleneck for AI teams working with unstructured data. Reducto enables reliable AI processing of sensitive documents like medical records and financial statements with the accuracy and reliability necessary in production environments.

Having processed over a billion pages for leading enterprises, and backed by $108M in funding, Reducto has quickly become the leading platform for AI document intelligence.

SOURCE Reducto