A new class of AI-native infrastructure is setting the benchmark for how contractors compete in the new federal economy

SAN FRANCISCO, July 15, 2025 — Vultron, the creator of the Agentic Operating System transforming federal growth, announced today that it has raised a total of $22 million, including its latest Series A funding round. The round was led by Raycroft with participation from Craft Ventures, Long Journey, South Park Commons and strategic angel investors. Craft Ventures, co-founded by White House AI adviser David Sacks, backed the round, signaling investor confidence that Vultrons is the category-defining system for AI-driven federal growth. This funding will accelerate Vultron’s mission to transform enterprise federal growth and elevate the workforce.

“This raise reinforces Vultron’s position as a key partner for contractors navigating a rapidly evolving federal landscape,” said Mac Liu, CEO of Vultron. “Demand for our product has never been stronger, and with this new capital, we’re ready to support our customers even more deeply and effectively.”

Vultron’s Agentic OS is purpose-built for the demands of a shifting federal procurement landscape where speed, strategic precision and alignment with national priorities like digital modernization, AI-readiness and resilience determine who wins. The platform has attracted a significant number of multibillion-dollar Fortune 500 enterprises and leading federal contractors across defense, aerospace, technology and other mission-focused organizations. Customers report reducing proposal timelines from weeks to days, tripling pipeline coverage, and unlocking substantial workforce leverage—one Fortune 500 enterprise now saves more than 20 hours per user each week on capture and proposal execution.

“Working with Vultron is like doubling our team overnight,” said Director of Capture and Proposal at a top defense contractor, Rachel Wyatt. “We have increased productivity by more than 30% without expanding headcount.”

“Vultron is redefining the future of work for government contractors and commercial organizations in mission-critical industries,” said Bryan Subijano, investor at Greycroft. “Vultron infuses AI and federal contracting expertise into an intelligent, best-in-class platform, enabling companies to centralize data, create organizational intelligence and leverage AI to develop higher quality proposals faster. Customers across Fortune 500 and SMB organizations achieve tremendous results that transform their business. We are excited to partner with Mac Liu and the entire Vultron team.”

The investment will expand Vultron’s research team and accelerate its go-to-market strategy, enabling the company to meet the demand for their Agentic OS and advancing the future of work, where AI doesn’t just automate tasks but transforms how federal teams operate, grow and scale.

About Vultron
Vultron is the Agentic Operating System for federal growth, setting a new benchmark for how contractors pursue, develop and win work. By combining AI-native infrastructure with modular workflows and embedded strategic guidance, Vultron enables business development and proposal teams to operate with greater speed, clarity, and precision. Headquartered in San Francisco and backed by top-tier investors including Greycroft, Craft Ventures, Long Journey and South Park Commons, Vultron is redefining how federal contractors compete in a rapidly evolving federal landscape. For more information, visit vultron.ai.

Media Contact:
Vultron Media Team
4236055553
[email protected]

SOURCE Vultron

BOULDER, Colo., July 15, 2025 — Today, Bifrost Electronics, a Colorado-based quantum startup, announced it has raised $2.5 million in seed funding to accelerate development of its next-generation quantum amplifiers. Led by Colorado’s Caruso Ventures, investors include Harlow Capital and others.

Founded by alumni of the Colorado School of Mines and William & Mary University in Virginia, Bifrost has developed a new class of magnetically insensitive, scalable, electro-optic quantum amplifiers. Traditional quantum readout devices are notoriously complex, difficult to use, and failure-prone; Bifrost offers an elegant, functional alternative.

The company has pioneered the application of cutting-edge materials science to totally reimagine quantum amplification, optimizing systems for real-world reliability and scaled integration.

Bifrost tech supports a wide range of qubit platforms, ranging from superconducting qubits to spin qubits to other experimental modalities. Across applicable platforms, Bifrost delivers improvements including footprint, reliability, noise performance, and cost.

“Quantum is complicated – its readout devices shouldn’t add complexity for the researchers. By building readout chains that work straight out of the box, Bifrost is helping establish the United States as the undisputed leader in both quantum and its fundamental support infrastructure,” said Zenith Tillemann-Dick, Co-Founder and CEO of Bifrost Electronics. “We’re done accepting fragile hardware as a fact of quantum science. Bifrost is engineering systems that scale quickly, integrate cleanly, and effectively serve real customers by solving real problems.”

“Unlocking quantum advantage will require bold engineering and new infrastructure built for scale,” said Dan Caruso, Managing Director of Caruso Ventures. “Bifrost is pushing the envelope on what quantum hardware can do, tackling one of the toughest technical bottlenecks with urgency and clarity. This is the kind of foundational innovation that moves entire industries forward. We’re proud to back Bifrost and invest in the systems that will make quantum computing real.” Bifrost is the fifth Colorado-based quantum investment by Caruso Ventures.

Bifrost’s approach blends world-class physics and engineering with tailored system integration, ensuring that every amplifier is designed for optimal performance beyond the fabrication lab. Balancing ambition with pragmatism, Bifrost develops state-of-the-art systems designed to ship, integrate seamlessly into existing stacks, and perform reliably – even in the most extreme conditions.

Bifrost is the only U.S.-based commercial producer of quantum-limited readout components. The company will be headquartered at the Elevate Quantum campus outside Boulder, Colorado – joining a growing ecosystem of innovators working to establish Colorado as a national hub for quantum technology.

“The Bifrost leadership team’s commitment to building scalable, reliable, U.S.-made readout solutions underpins a critical part of the value chain in quantum and our nation’s quantum epicenter in the Mountain West,” said Zachary Yerushalmi, CEO of Elevate Quantum. “On behalf of the entire Elevate Quantum community, I’m proud to support Bifrost on this next phase of growth, and look forward to working alongside the team at our new Quantum Commons campus.”

Bifrost is actively collaborating with U.S. industry leaders like Form Factor, Rigetti Computing, and Maybell Quantum Industries to tailor systems for commercial deployments. This funding round will support team expansion, scaled manufacturing, and continued partnerships with key ecosystem stakeholders.

About Bifrost Electronics
Bifrost Electronics is a Colorado-based company with U.S. manufacturing, building next-generation quantum readout hardware. Bifrost is the only U.S. commercial producer of quantum-limited amplifiers, and the world’s only producer of scalable, magnetically insensitive electro-optic amplifiers. The company is addressing one of the toughest bottlenecks in quantum systems with a novel architecture that avoids the limitations of classical solutions through advanced materials science and precision engineering.

Bifrost primarily supports superconducting and spin qubits, with potential applicability to other experimental modalities. Headquartered on the Elevate Quantum campus in Arvada, Bifrost is part of a growing national effort to strengthen domestic leadership in quantum infrastructure and advanced microelectronics.

SOURCE Bifrost Electronics

Venrock leads financing round to accelerate Collate’s AI-first mission for enterprises through the open source community

MENLO PARK, Calif., July 15, 2025 — Collate, the creator of OpenMetadata, the leading open source project for data intelligence, today announced it has raised $10M in Series A funding led by Venrock. Additional investors include Unusual Ventures and Karman Ventures.

This funding comes as Collate gains significant traction enabling customers like Mango, fundcraft, and Decisiv to easily find, understand, and govern the data they need to increase data team productivity and innovate faster for their customers. This has resulted in Collate’s ARR growing more than 350% YoY.

“What makes Collate unique is its ability to solve the last-mile data challenges for modern data teams,” said Ganesh Srinivasan, Venrock partner and former Chief Product Officer of Confluent, who will be joining Collate’s board of directors as part of the investment. “Collate Co-Founders Suresh Srinivas and Sriharsha Chintalapani have an incredible track record of identifying and building disruptive products that are ahead of the market, and we couldn’t be more excited to lead this Series A round to support them in their AI-led innovation.”

Solving the problems of modern data teams

Despite massive investments in data platforms, businesses of all sizes are struggling to realize the full value of data and AI. The proliferation of data and tools has created silos and fragmentation, as businesses struggle to address key issues:

• Disconnect between business and technical teams when working with data
• Lack of trust in data throughout the company due to quality issues
• Manual, fragmented tooling adding friction and slowing productivity

Collate’s agentic data intelligence platform automates tasks and drives collaboration for data teams. It completes the virtuous cycle with AI built for data teams, enabling them to deliver the data needed for AI-readiness. Collate’s orchestrated suite of agentic workflows and human workspaces creates a unified solution built on the open source core of the fastest growing project in the space, OpenMetadata. OpenMetadata was recently recognized with a $10,000 grant from Bloomberg’s FOSS (Free and Open Source Software) Contributor Fund for its rapid growth and importance to the OSS community, and provides the open foundation for Collate’s expansion.

“Collate has been a game changer for strengthening our data culture,” said Victor Martin, CTO of fundcraft. “The biggest impact we’ve seen is accelerated development speed and improved cycle times, since our teams can now focus quickly on what matters most. We’ve already achieved significant business outcomes, and we expect even more as we continue to extend our data strategy with Collate.”

A forward vision from veteran data leaders

Srinivas and Chintalapani bring more than four decades of experience and helped create industry-standard tools like Apache Hadoop, Apache Kafka, and Uber DataBook, and were the founders of Hortonworks. Their vision for Collate is to deliver AI-powered data discovery, observability, and governance. The platform is built on a Unified Knowledge Graph, democratized user experience, and open source technologies, giving modern data teams the tools they need to manage data in the AI era.

“Collate’s Series A couldn’t come at a more critical time,” said Suresh Srinivas, CEO of Collate. “We’re in the midst of an AI race — not just for getting data ready for AI, but for how AI itself helps prepare that data. The winners will be organizations with highly functioning data teams augmented by AI. Our agentic approach is uniquely powered by richer metadata context from our knowledge graph and open source core. This is changing the game for our enterprise customers by solving the last mile of data challenges, helping them innovate faster with AI and data.”

Investing in growth and innovation

Collate will deploy the new capital across different growth areas, including:

• Accelerating the OpenMetadata community,  the fastest growing open source metadata project, with more than 9,800 members and 3,000% growth.
• Expanding engineering investment in AI agent development
• Scaling go-to-market operations for enterprise and cloud-native organizations
• Enhancing customer success services for Fortune 500 customers

For more information, visit getcollate.io and open-metadata.org

About Collate
Collate transforms how data teams work, with its AI-powered platform for agentic data intelligence. We are the company behind OpenMetadata, the fastest growing open source projects for unified data discovery, observability, and governance. Data teams at Fortune Global 500 companies and innovative startups rely on Collate to work faster and more efficiently to unlock the value of their data assets.

SOURCE Collate

TEMPE, Ariz., July 15, 2025 — GT Medical Technologies, Inc., a medical device company dedicated to improving the lives of patients with brain tumors, today announced the company has completed the close of its oversubscribed $53 million Series D equity financing.

The final close of the Series D comprised an additional $16 million from new investors including FemHealth Ventures, Warren Point Capital, an undisclosed strategic investor, and increased commitments from all existing institutional investors. Earlier this year, GT Medical Technologies announced the completion of a $37 million first close of the Series D equity financing led by Evidity Health Capital, alongside new investor Accelmed Partners and existing investors MVM Partners, Gilde Healthcare, and Medtech Venture Partners.

“Increasing the size of the Series D allows us to stay focused on driving results for patients into the foreseeable future,” said Per Langoe, Chief Executive Officer at GT Medical Technologies. “We are thankful for our investors’ continued support as we expand our commercial footprint and clinical initiatives for GammaTile®.”

The company will use the funds to drive the expansion of its U.S. commercial activities for GammaTile. In addition, the financial resources will enable GT Medical Technologies to complete enrollment of its ROADS randomized controlled trial for newly diagnosed brain metastases and will fund an additional randomized control trial of GammaTile in newly diagnosed glioblastoma cases.

“FemHealth Ventures is excited to join GT Medical Technologies as an investor and support the commercial acceleration of GammaTile Therapy,” stated Maneesha Ghiya, Managing Partner at FemHealth Ventures. “We are proud to back a company that is transforming the standard of care in oncology and shares our commitment to improving health outcomes, including meaningful applications in women’s health.”

GammaTile is an innovative form of radiation therapy placed at the time of brain tumor removal surgery, delivering immediate, targeted radiation to the tumor site when cancer cells are at their lowest levels. Unlike conventional approaches, which often require a delay between surgery and radiation therapy to allow for wound healing, GammaTile eliminates this treatment gap. By delivering immediate, localized radiation directly at the tumor site, it is designed to maximize the treatment’s effectiveness against remaining cancer cells to reduce the risk of regrowth.¹

“The completion of an oversubscribed Series D equity financing from premier medical device investors is a testament to the important work of our team and mission,” added James Leech, Chief Financial & Strategy Officer of GT Medical Technologies.

Recent GT Medical Technologies Milestones

GT Medical Technologies recently celebrated important milestones, reflecting the growing adoption of GammaTile. To date, more than 1,900 patients have been treated with GammaTile Therapy, and over 800 patients have been enrolled in GammaTile clinical studies.

Looking Ahead

GT Medical Technologies anticipates completing enrollment in both the ROADS and GESTALT studies in Q3 2025.

About GT Medical Technologies, Inc.

GT Medical Technologies was founded by a dedicated team of brain tumor specialists to address unmet needs in brain tumor treatment. The company is committed to improving the lives of patients with brain tumors through innovative solutions that elevate the standard of care.

About GammaTile

GammaTile is an FDA-cleared, bioabsorbable collagen implant embedded with radiation seeds, designed for patients with operable brain tumors. By delivering radiation directly from within—placed into the surgical cavity at the time of tumor removal—GammaTile provides immediate, localized treatment. This approach targets remaining cancer cells when they are at their lowest levels to help prevent regrowth while minimizing radiation exposure to healthy brain tissue.

Since its full market launch in the United States in March 2020, GammaTile has been adopted by more than 100 leading centers, underscoring its growing acceptance in both academic and community healthcare settings. For more information, visit gammatile.com and follow @GammaTile on Facebook, Instagram, LinkedIn and X. 

Media Contacts
Dawn Fallon
New Dawn Communications LLC
[email protected]
732-771-7808

References

1. Garcia MA et al. J Neurooncol. 166:203-212 (2024).

SOURCE GT Medical Technologies

 TVM Capital Healthcare’s oversubscribed fundraise for Baraya Extended Care addresses critical gaps in long-term care, supporting Saudi Arabia’s Vision 2030 healthcare goals.

DUBAI, UAE and  RIYADH, Saudi Arabia, July 15, 2025 — TVM Capital Healthcare announces the closing of a Series B fundraising, surpassing its target and bringing the total capital raised to USD 124 million for Baraya Extended Care [“Baraya”], a leading provider of long-term care and rehabilitation services in Saudi Arabia.

This fundraise comes at a critical moment, as Saudi Arabia faces a rapidly aging population, rising incidences of chronic conditions, and increased demand for specialized post-acute care driven by the Kingdom’s ambitious Vision 2030 and Health Sector Transformation Program. According to the Saudi Ministry of Health, 14% of acute care beds in public hospitals are occupied by long-stay (long-term care) patients. This figure is even higher in some regions, such as Jeddah (19%) and Riyadh (17%).

The capital provided by the TVM Healthcare Afiyah Fund and co-investors, including Olayan Financing Company, Saudi Economic and Development Holding Company (SEDCO), ANB Capital, and SVC, among others, will enable Baraya to expand its network of high-quality inpatient facilities and outpatient rehabilitation clinics, directly addressing the Kingdom’s urgent need for dedicated extended care services.

Launched in 2023 by TVM Capital Healthcare, Baraya Extended Care has opened two outpatient rehabilitation clinics in Riyadh and Jeddah, with the combined capacity of 9,000+ sessions per month and is planning to admit patients in its first 216-bed long-term care and rehabilitation hospital by the beginning of 2026.

This investment builds on TVM Capital Healthcare’s proven track record in developing and scaling post-acute care providers across the Middle East. Previous investments in the sector included ProVita International Medical Center and Cambridge Medical & Rehabilitation Center (CMRC). In its prior extended care investments, the firm helped establish regulatory frameworks with healthcare authorities, developed specialized operations management and workforce pipelines, and integrated international best practices and accreditations — all of which position Baraya for accelerated growth.

“Our mission is to provide a comprehensive range of extended care and rehabilitation services, addressing a critical need in the Kingdom,” said Jad Halaby, Chief Executive Officer of Baraya Extended Care. “With TVM Capital Healthcare’s support and expertise in this healthcare vertical, we are uniquely positioned to combine international standards with local expertise, improving outcomes and quality of life for patients and families across Saudi Arabia.”

Dr. Helmut Schuehsler, Chairman and CEO of TVM Capital Healthcare, responded, “We’re proud to report on this significant financing round for Baraya Extended Care, backed by major Saudi institutions and families. Since 2010, TVM Capital Healthcare has been the only international healthcare private equity firm with a sustained presence and proven track record of building, scaling, and exiting high-quality healthcare businesses in the Kingdom. Our success with ProVita and CMRC helped shape Saudi Arabia’s extended care sector, and Baraya marks the next chapter—advancing Vision 2030 through innovative, integrated care models.”

Orhan Osmansoy, Managing Partner at TVM Capital Healthcare and deal lead at the firm, added: “We are grateful to our co-investors and syndicate partners for their strong participation in this oversubscribed round and their shared commitment to solving some of the Kingdom’s most pressing healthcare challenges. With a scalable platform and plans to increase capacity to approximately 650 beds in the coming years, Baraya is well-positioned to become a leader in extended care services.”

The investment will support Baraya’s ambitious growth plans, including the development of major inpatient facilities and outpatient clinics across the Kingdom in a hub-and- spoke model. The company is creating a scalable blueprint for long-term and post-acute care that will not only transform care delivery in Saudi Arabia but also holds strong potential for replication in other markets facing similar demographic and healthcare challenges, including Southeast Asia.

For more information about Baraya Extended Care, visit baraya.com.sa.
For more information about TVM Capital Healthcare, visit tvmcapitalhealthcare.com.

Media Contact:
Holly Radel
TVM Capital Healthcare
[email protected]

Logo – https://mma.prnewswire.com/media/1446186/TVM_Capital_Healthcare_Logo.jpg

SOURCE TVM Capital Healthcare

Ex-Palantir founders make AI-powered platform that automates the essentials for companies left behind by legacy models

NEW YORK, July 14, 2025 — Zip Security, the all-in-one platform for security, compliance and IT automation for every business, today announced it raised $13.5 million in Series A funding. The round was led by Ballistic Ventures, with participation from Silver Buckshot, Mantis VC, and continued support from General Catalyst, Human Capital and Box Group. This brings Zip’s total funding raised to $21 million.

Today, up to 95% of businesses with fewer than 100 employees have no cybersecurity professionals, according to research. That means thousands of mid-market and small and medium-sized enterprises (SMEs) – which account for over half of the U.S. GDP – are operating without the resources to deploy, manage, and maintain basic security controls. But this is not just a staffing issue; it’s a structural flaw in how security has been delivered to the vast majority of the economy. The dominant model – hiring expensive consultants or outsourcing to MSSPs – is broken. It’s slow, reactive, and too costly for the mid-market and SMEs to sustain.

Zip deploys AI and automation to fix cybersecurity’s broken services model.

Advances in AI and automation have made it possible to consume, provision, and manage security controls far more effectively, with minimal reliance on outside services – and Zip puts that power directly into the hands of growing businesses. Founded by former Palantir engineers Josh Zweig (CEO) and Gabbi Merz (CTO), Zip’s platform streamlines complex security operations, including endpoint protection, identity and access management, mobile device security, and compliance workflows – into a unified, AI-powered experience that any team can use.

“For every dollar companies spend on security tools, many spend several more on services and consulting just to get those tools working. Cybersecurity shouldn’t be a luxury only big businesses can afford,” said Zweig. “We believe modern security should be automated, accessible, and cost-effective. We’re on a mission to give businesses the automation to easily set up, manage, and improve their security – without needing a team of experts.”

With Zip, businesses can rapidly implement security best practices, achieve compliance with standards like SOC 2, HIPAA, and ISO 27001, and manage their IT infrastructure with confidence. As a result, Zip customers significantly reduce services overhead and total cost of ownership. The Zip platform integrates with CrowdStrike, Google Workspace, Jamf, Microsoft Intune, Entra ID / Azure Active Directory, Okta, and a growing number of other core security services providers.

Zip is designed for the mid-market, and scalable for the enterprise.

“Zip is tackling one of our industry’s most overlooked and urgent problems: how to bring strong security to organizations that can’t afford to get it wrong, but also can’t afford traditional approaches,” said Barmak Meftah, Co-founder and General Partner of Ballistic Ventures, who joined Zip’s board of directors. “Josh and Gabbi are incredibly sharp operators who have built a platform that’s not just functional, but empathetic to its users. We’re proud to partner with them to help democratize access to strong security.”

“We’ll never ‘solve cybersecurity’ until we accept that we live in an interconnected ecosystem of suppliers and smaller players,” said Nicole Perlroth, Co-founder of Silver Buckshot Ventures and Venture Partner at Ballistic Ventures. “There’s a $2 trillion cybersecurity market opportunity – ten times what is sold today. That gap exists because we haven’t figured out how to protect the long tail – everyone downstream. That’s where Zip Security comes in. This isn’t just a massive market opportunity – it’s how we democratize security. Not just for the biggest players, but for everyone.”

Zip Security is purpose-built for organizations that lack dedicated security teams but still face strict compliance requirements and advanced threats. But the company’s automation-first approach is resonating with larger enterprises too, especially those looking to simplify and scale their security programs.

The Zip Security team will use the new funding to grow its engineering and go-to-market, build new integrations with third-party tools, and deepen its presence in industries including defense, finance, health, and software.

To celebrate the Series A raise, Zip Security is extending a special offer to its startup peers to help them scale their operations securely: any startup, from Pre-seed to Series B, can receive two months free on Zip’s platform. Interested companies can contact Zip using this landing page and book a product demonstration by August 14, 2025 to qualify.

For more information, visit www.zipsec.com.

About Zip Security
Zip Security (“Zip”) was founded with the mission of making best-in-class security accessible and affordable. Zip builds software that automates cloud-based identity management, device management, and endpoint threat detection making securing a company and acing compliance audits a breeze. Zip works with customers across a range of industries like health, defense, software, and finance, and supports integration with industry-leading security tools like Jamf, Intune, Entra ID, Okta, Google Workspace, and CrowdStrike. To learn more visit www.zipsec.com.

SOURCE Zip Security

SEATTLE, July 14, 2025 — Duranta, the software platform transforming how landscapers and lawn care professionals grow and manage their businesses, today announced a $7 million seed round led by top Silicon Valley firms including Base10 Partners, Pear, Coalition Operators and Sunshine Lake. The round also includes participation from prominent angel investors such as Thomas Dohmke, CEO of GitHub, and Andrew Miklas, co-founder and CTO of PagerDuty.

Duranta is building the modern operating system for outdoor service professionals, those shaping the spaces where people live, recover, play and connect. The company’s flagship innovation, AIdan, is a proprietary AI model that automatically measures all property details and helps generate beautiful customer proposals. AIdan is combined with an intuitive suite of landscape design and invoicing tools, and a CRM that helps landscaping businesses win more customers and streamline their workflows.

“Duranta is designed to help landscapers and lawn care professionals run stronger, more profitable businesses,” said Samuel Adeyemo, Duranta’s co-founder and CEO. “We’ve seen customers eliminate thousands of time-consuming site visits and close large contracts using our product.”

Headquartered in Seattle, WA, Duranta was founded by a team of engineers who previously built Aurora Solar, the leading cleantech software platform in the U.S. The team also brings experience from top technology companies including Amazon, Google, Airbnb, Figma, and Datadog.

With this capital, Duranta will accelerate product development, grow its engineering team, and expand support for the thousands of businesses building and maintaining the environments that people enjoy.

About Duranta
Duranta is a software platform purpose built for landscapers and lawn care professionals. By combining AI-powered property measurement, intuitive design tools, CRM and invoicing, Duranta helps outdoor service businesses win more customers and deliver high-quality work with less hassle. Duranta is based in Seattle, WA.

Media Contact:
[email protected]
www.getduranta.com

Follow Us:
Instagram: @getduranta
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LinkedIn: linkedin.com/company/duranta-inc

SOURCE Duranta Inc

• Validates technological prowess of GAIA platform and intensifies global co-development effort, including the existing partnership with Lilly Catalyze360-ExploR&D
• Funds to accelerate Alzheimer’s and immune disease drug development, expanding GAIA-based pipeline

SEOUL, South Korea, July 14, 2025 — The Series B round saw strong participation from both existing and new investors, demonstrating high industry confidence in Illimis Therapeutics’ vision and technology. Eight existing investors, including DSC Investment, Woori Venture Partners, Korea Development Bank, Aju IB Investment, Quad Asset Management, Company K Partners, GS Ventures, and Dayli Partners, reaffirmed their commitment. They were joined by ten new investors: LB Investment, TS Investment, Shinhan Venture Investment, S&S Investment, Hana Ventures, Maple Investment Partners, A Ventures, IMM Investment, Schmidt, and Industrial Bank of Korea.

The proceeds will be used to accelerate the development of GAIA-based Alzheimer’s Disease therapeutics, expand its target indications to various immune disorders, and broaden its pipeline of potential blockbuster drug candidates. The company is actively pursuing early-stage collaborations with global pharmaceutical companies and research institutions to add value to internal programs.

“In the evolving landscape of new drug development where the limitations of existing medications are continually being overcome, Illimis’ differentiated platform technology is expected to emerge as a next-generation treatment option for neuro-immune diseases with high unmet medical needs,” said Yohan Kim, Senior Managing Director at DSC Investment, who led this investment round and has also been appointed to the board of directors.

Jiwoong Chun, Managing Director at Woori Venture Partners and an active board member and investor since the company’s inception, added, “Illimis is a prime example of a smart Korean biotech unlocking global markets with proprietary innovation and capital efficiency.”

Illimis has recently been selected for the ‘2025 Global Joint Research to Defeat Dementia’ led by the Ministry of Health and Welfare and the Korean Dementia Research Center, securing KRW 2.2 million ($1.6 million) in funding over three years, further validating its technological capabilities. This initiative aims to develop Alzheimer’s therapeutics through global joint research leveraging the GAIA platform, positioning Illimis at the center of international collaboration.

Furthermore, in October 2024, Illimis partnered with Eli Lilly and Company (Lilly)’s Catalyze360-ExploR&D, a core pillar of external innovation at Lilly dedicated to deploying world-leading research and development capabilities and scientific know-how to accelerate partner science. Under this research collaboration, Illimis and Lilly have been cooperating to advance the platform construct for applications in neurodegenerative diseases. Illimis has also strengthened its global pharma collaborations by winning the 2023 BMS Innovation Square Challenge and joining Johnson & Johnson’s global incubator network as a member company of JLABS Singapore in 2024.

To further enhance its drug development competitiveness, Illimis Therapeutics operates a Scientific Advisory Board (SAB). The SAB includes Dr. Greg Lemke, Emeritus Professor at the Salk Institute and a world-renowned expert in TAM Biology, and Dr. Morgan Sheng, a leading neuroscientist at the Broad Institute who previously served as Vice President of Neuroscience at Genentech. These experts provide strategic guidance across the entire R&D lifecycle, including pipeline development, candidate discovery, clinical trial design, etc., and play a pivotal role in strengthening Illimis Therapeutics’ global partnerships.

“This investment, government grants, and partnership with Lilly will enable us to accelerate our efforts to conquer diseases with high unmet clinical needs based on a comprehensive understanding of TAM biology and establish global leadership in TAM biology,” said Sanghoon Park, CEO of Illimis Therapeutics. “We will continue to focus on innovative new drug development centered around the GAIA platform and provide tangible treatment options to patients worldwide through early R&D collaboration models.”

About Illimis Therapeutics

Illimis Therapeutics is a pioneering biotechnology company at the forefront of developing innovative therapies for challenging central nervous system (CNS) and immune-related diseases. The company’s core strength lies in its proprietary GAIA (Gas6-mediated Anti-Inflammatory Adaptor) platform. This cutting-edge platform is designed to harness the therapeutic potential of TAM (Tyro3, Axl, Mer) receptor biology, a critical pathway involved in regulating inflammation and immune responses. The company’s lead pipeline, ILM01 for the treatment of Alzheimer’s Disease, is entering into the preclinical stage in the second half of 2025 and expecting to submit an IND by the end of 2027. For more information, visit https://illimistx.com/en.

SOURCE Illimis Therapeutics

SAN FRANCISCO, July 14, 2025 — TeraWatt Technology Inc. (Headquartered in California, USA) is pleased to announce the completion of the 1st close of its Series C funding round. Existing investors including Khosla Ventures, Temasek, and JIC Venture Growth Investments participated in the round, alongside new investors such as Japan Bank for International Cooperation (JBIC), GX Acceleration Agency, and G. K. Goh Ventures.

The investment will enable TeraWatt Technology to make further capital investments in its initial mass production facility, enabling a phased increase in production capacity and further strengthening of its mass production operations.

“This funding accelerates our market entry, enabling rapid scale-up of production and swift deployment of TeraWatt’s next-generation batteries,” said Ken Ogata, Ph.D., Co-founder and CEO of TeraWatt Technology. “We are deeply grateful for the continued support of our existing investors and honored to welcome leading Japanese investors whose domain expertise is instrumental in guiding our journey.”

Major investors in this round (in alphabetical order):
G. K. Goh Ventures
GX Acceleration Agency
Japan Bank for International Cooperation (JBIC)
JIC Venture Growth Investments
Khosla Ventures
Temasek

About TeraWatt Technology Inc.
TeraWatt Technology Inc. is a California-based company that produces lightweight, high-power, and safe next-generation lithium-ion batteries.

Company Overview
Headquarters Name: TeraWatt Technology Inc.
Representative: Co-founder and CEO Ken Ogata
Headquarters Location: 28 Geary St, Suite 650, San Francisco, CA 94108, United States
Founded: January 2020
Established: December 2019
URL: https://www.terawatt-technology.com/ 

SOURCE TeraWatt Technology Inc.