Barndoor provides a single platform to control access, enforce policy, and monitor the activity of AI agents across organizations.

NEW YORK, May 20, 2025 — Today, Barndoor AI launched as the first control plane to allow enterprises to take control of their AI workforce and announced its seed funding of $13.6M, led by Crosslink Capital, with participation by Preface Ventures, Precursor Ventures, Gaingels, Rob Hayes, Natalie Diggins, Scott & Cyan Banister, and more. Barndoor is the first and only centralized platform to govern and manage AI access, policy, and visibility across enterprises — giving IT and security teams the control they need, and business teams the freedom to move fast.

“Across any organization, dozens of autonomous agents are handling sensitive data, making changes, and introducing real risk,” said Oren Michels, founder and CEO of Barndoor AI. “To manage this new AI workforce, IT teams must understand the full context — who’s operating an agent, what their role is, what service they’re accessing, and what action they’re taking. Barndoor sits at that intersection, evaluating every request in context to ensure enterprises stay secure, compliant, and in control.”

With Barndoor AI, enterprises can gain:

• Granular Agent Access Controls: Control what each agent can see and do based on specific context – the user operating it, their role in the organization, the service they are accessing, and the specific action they are attempting to take.
• Visibility: Get complete telemetry, audit trails, and real-time alerts to surface anomalies, monitor risk and prove compliance. Track agent usage, understand where value is created or where agents are being blocked, and adapt policies to safely scale AI across the enterprise.
• Policy Enforcement: Barndoor acts as a policy enforcement layer, inspecting and authorizing every AI agent request before it reaches your systems or alters your data.
• Secure Management for Any AI Agent: Manage every agent in one place — no matter where it runs or how it’s built allowing enterprises to stay flexible as new AI tools and platforms develop.

Recently at the Hill and Valley Forum, Jensen Huang, CEO of NVIDIA, addressed the growth of AI within the enterprise landscape, noting “These agentic AIs are essentially robots — your digital workforce. HR will manage the biological workforce, and IT will become HR for agentic AI.” Barndoor is addressing the workforce transformation by empowering enterprises to take control of their agentic workforce.

“There’s no question that AI can unlock massive potential — but enterprises are struggling to stay in control as agents proliferate across teams and tools,” said Eric Chin, Partner at Crosslink Capital. “Barndoor is solving this real and urgent challenge by giving companies the context-aware controls they need to manage AI safely and effectively. Oren and his team pioneered the API management category during the rise of mobile apps — giving enterprises control over how data moved between systems. Barndoor applies that same disciplined approach to AI, and we’re thrilled to support them as they take on one of the most important challenges of the AI era.”

ABOUT BARNDOOR AI
Founded in 2024, Barndoor AI is the first and only Control Plane for the agentic enterprise, giving IT and security the guardrails they need, and business teams the freedom to move fast without the risk. For more information, visit barndoor.ai.

SOURCE Barndoor AI

• Largest Series A financing round in Asia’s diagnostic technology sector since 2019 underscores strong investor confidence in PHASE Scientific’s breakthrough diagnostic technology and growth vision.
• Investment to accelerate R&D and commercialization of cutting-edge early disease detection technology for multiple cancers, women’s health issues, and infectious diseases.

HONG KONG, May 19, 2025 — PHASE Scientific International Limited (“PHASE Scientific”), a pioneering biotechnology company revolutionizing early disease detection through proprietary urine-based diagnostics, today announced the successful completion of a US$34 million Series A funding round. This represents the largest Series A raise in Asia’s diagnostic technology sector since 2019, reflecting robust investor conviction in PHASE Scientific’s innovative PHASIFY™ technology and ambitious growth strategy. The funding round is led by a private equity fund managed by Value Partners Group (HKEX: 0806), one of Asia’s largest independent asset management firms, with significant backing from new healthcare-focused investors and continued support from existing global backers.

Building on its patented PHASIFY™ urine concentration technology—which captures over ten times more biomarkers than current industry gold standards—PHASE Scientific is the only player advancing a pipeline of urine-based liquid biopsy diagnostics. The company is developing a comprehensive suite of non-invasive tests for early detection of cancers, women’s health conditions, and infectious diseases. Unlike traditional invasive screening methods, PHASIFY™ enables convenient, at-home sample collection, empowering proactive health management and preventive care.

PHASE Scientific has demonstrated strong market traction with the successful launch and commercialization of over 30 innovative diagnostic products across multiple health categories, including respiratory, gastrointestinal, women’s, sexual, pediatric health, and oncology. To date, the company has distributed more than 100 million tests in over 30 countries and conducted over 8 million laboratory tests worldwide. Building on this commercial success, PHASE Scientific has developed the world’s first urine-based HPV test—a major breakthrough that has achieved significant clinical validation and global recognition. In a recent clinical study with Peking University Shenzhen Hospital, the test demonstrated 93.4% sensitivity in detecting CIN2+ lesions—including cervical precancer and cancer—and over 97% concordance with gold-standard physician-collected testing (Roche’s Cobas 4800) for HPV types 16 and 18. The innovation earned the Thomas V. Sedlacek, MD, Prize for Best Clinical Research Abstract at the 2025 American Society for Colposcopy and Cervical Pathology (ASCCP) Annual Scientific Meeting and was featured at the Chinese Society for Colposcopy and Cervical Pathology (CSCCP) Conference, reflecting growing international interest and recognition. These results underscore PHASiFY™’s potential to make cervical cancer screening more accessible, comfortable, and user-friendly.

“The successful close of this landmark Series A financing validates the transformative potential of our technology and the growing global demand for accessible, accurate early disease detection,” said Dr. Ricky Chiu, Founder, Chairman and CEO of PHASE Scientific. “With this capital, we will accelerate R&D and commercialization efforts to bring a comprehensive suite of next-generation urine-based diagnostics to market. Our mission is to empower millions worldwide with non-invasive, user-friendly testing that can save lives through earlier intervention.”

“We are delighted to become a partner of PHASE Scientific as it rapidly grows and addresses critical unmet needs in early disease detection. Its innovative technology represents a paradigm shift, offering an unparalleled combination of clinical precision and patient-centric solutions that accelerates the development of early disease detection. This aligns with our strategy to back category-defining leader with strong management, clear strategic differentiation, and best-in-class healthcare technologies that deliver both societal impact and scalable commercial potential,” said Dr. Chuen Yan Leung, Partner (Healthcare Investments) of Value Partners Group.

Founded in 2015, the company is headquartered in Hong Kong SAR with cross-border setup in Southern California, U.S.A. and China’s Greater Bay Area, which allows it to leverage the strengths of each region for research, development, and commercialization, positioning PHASE Scientific at the nexus for healthcare innovation on a global stage.

Note to Editor: The global liquid biopsy market, fueled by the demand for non-invasive cancer diagnostics, is forecasted to reach around US$22.69 billion by 2034 at a CAGR of 13.91% from US$7.05 billion in 2025, according to Precedence Research.

About PHASE Scientific

PHASE Scientific is a fast-growing biotechnology company with a mission to inspire a new state of health through innovative diagnostics and healthcare solutions. With operations in the U.S., mainland China, and Hong Kong SAR, PHASE delivers novel diagnostic tools and services for cancer and infectious diseases using proprietary technologies, empowering better disease detection, diagnosis, and management.

Since its founding, the company has been supported by Gates Foundation, US governmental agencies National Science Foundation and National Institute of Health, Ministry of Science and Technology of China, Hong Kong Innovation, Technology and Industry Bureau and Hong Kong Science and Technology Parks. For more information, please visit phasescientific.com. 

About PHASIFY™

PHASIFY™ is the world’s first urine concentration technology designed for molecular diagnostics, setting a new industry benchmark by capturing approximately 10 times more target analytes from urine specimens compared to the current gold standard. This advanced mechanism enables the concentration and purification of unlimited volumes of urine, dramatically increasing the sensitivity and accuracy of disease detection.

This proprietary innovation uniquely positions PHASE Scientific as the only player in the urine-based liquid biopsy diagnostics field, with proven clinical performance for multi-cancer detection. With a non-invasive and painless approach, PHASIFY™ empowers convenient sample collection, unlocking new possibilities for early, accessible, and comprehensive disease screening and diagnosis.

About Value Partners Group Limited

Value Partners, one of Asia’s leading independent asset management firms, seeks to offer world-class investment services and products. Since its establishment in 1993, the Company has been a dedicated, specialist value investor in Greater China and Asia. In November 2007, Value Partners Group became the first asset management firm to be listed on the Main Board of the Hong Kong Stock Exchange (Stock code: 806 HK). In addition to its Hong Kong headquarters, the firm operates in Shanghai, Shenzhen, Singapore and London. Value Partners’ investment strategies cover equities, fixed income, multi-asset, alternatives, real estate and quantitative investment solutions, for institutional and individual clients in Asia Pacific, Europe and the United States. For more information, please visit www.valuepartners-group.com.

Media Contact

PHASE Scientific
[email protected]

FGS Global
[email protected]

SOURCE PHASE Scientific

IFC investment supports VUZ’s international expansion, following precedent in scaling telecom and media ventures across the world.

WASHINGTON, May 19, 2025 — VUZ, the world’s leading immersive media company, has secured the International Finance Corporation (IFC), a member of the World Bank Group, to invest in its $12M Pre-Series C funding round. This strategic investment positions VUZ for accelerated global growth in immersive live streaming and content, AI-driven streaming technologies, and live spatial experiences, building on the next generation of media, the creator economy, sports, and entertainment.

The IFC and the World Bank Group collectively manage over $1 trillion in global assets and investment commitments, operating in more than 100 countries. In fiscal year 2024, IFC committed a record of over $56 billion to private companies and financial institutions to drive sustainable development through the private sector.

This round also includes participation from Al Jazira Capital, Crosswork VC Success fund (a pre-IPO venture capital fund), multiple existing investors, and several high-profile Saudi family offices, bolstering VUZ’s presence in key markets across the world.

IFC’s Strategic Role in Telecom and Media Expansion

The investment marks a pivotal collaboration between VUZ and IFC, which is known for its selective backing of global winners, including Souq.com (acquired by Amazon). With over 100 investments in telecom and communications companies across Africa, Asia, and Latin America, IFC brings unmatched expertise in market entry and infrastructure scaling across frontier economies.

Through this partnership, VUZ will scale further in Saudi Arabia and the UAE and accelerate expansion, particularly in Africa, the USA, and Asia, where demand for immersive experiences and next-generation media is rising rapidly. The move aligns with IFC’s mission to advance digital inclusion and economic growth through media innovation and connectivity.

A Profitable, Scalable Media Powerhouse

In 2024, VUZ achieved EBITDA profitability, with 80% year-over-year gross profit growth, a significant milestone for a tech streaming scale-up. The company’s platform — home to 30,000+ hours of premium immersive exclusive content — blends XR, VR, AR, and AI-powered media across sports, entertainment, and creator ecosystems. VUZ has a pipeline of partnerships with some of the largest football clubs, giga projects, and global athletes, as well as A-list artists, creators, and ambassadors.

“We are honored to welcome IFC as a strategic investor, said Khaled Zaatarah, Founder of VUZ. With IFC and the World Bank Group’s track record in scaling telecom and digital media companies globally, and over $1 trillion in assets under management, this partnership sets the stage for massive global scale. Together, we’ll bring immersive media to the world’s fastest-growing markets.”

Key highlights:

• 3 billion+ screen views to date; targeting over 5 billion by 2026
• Exclusive immersive content partnerships with LaLiga, Serie A, PFL, and more
• The largest exclusively owned immersive premium content library of over 30,000 hours
• Over 40 global telecom integrations, with 20+ in progress
• Strategic launches across TV Devices, Apple Vision Pro, Oculus, and VUZGo, a new web-embedded immersive tech layer
• 4 global patents powering proprietary streaming technologies

“This investment reflects IFC’s commitment to creative industries as a driver of jobs and income in emerging markets. VUZ’s tech edge and global reach align well with our mandate to support scalable platforms that empower creators”, said Farid Fezoua, IFC Global Director for Disruptive Technologies, Services, and Funds.

A Magnet for Global Creators and Partners

VUZ empowers a creator network with a combined global reach exceeding 100 million, offering monetization tools, immersive production capabilities, and a deeply engaging fan experience. Its technology now sits at the center of conversations with device manufacturers, sports federations, and media conglomerates seeking to deliver content that transcends physical limitations.

“This is the scale-up stage we’ve been building toward for years,” Zaatarah added. “With a solid foundation, patented tech, and profitability achieved, we are ready to scale globally and define the future of media.”

World-Class Investor Backing

In addition to the International Finance Corporation (IFC), a member of the World Bank Group, and other recent strategic investors, VUZ is backed by a distinguished and globally diverse group of institutional partners. These include e& capital, KBW Ventures, Al Jazira Capital, DFDF, SRMG Ventures, Caruso Ventures, Shorooq Partners, Plug and Play Ventures, Hala Ventures, Vision Fund, Knollwood Investment Advisory, Panthera Capital, Faith Capital, WIN, Elbert Capital, Yasta Partners, AlTouq Group, Impact46, Media Visions, 500 Startups, DAI, Al Falaj, and DTEC Ventures (Oraseya Capital), along with notable tech leaders including Magnus Olsson, Samih Toukan, and Jonathan Labin — reflecting strong international conviction in VUZ’s vision, performance, and global growth potential. 

Photo – https://mma.prnewswire.com/media/2690932/VUZ.jpg

SOURCE VUZ

LOS ANGELES, May 19, 2025 — St. Cloud Capital is pleased to announce a recent strategic financing of Santa Monica Amusements, the company that operates Pacific Park, an iconic beachfront amusement park on the Santa Monica Pier overlooking the Pacific Ocean. Pacific Park is a cultural institution and hub for entertainment, offering a family-friendly experience through a diverse range of attractions and activities. The park draws more than 10 million local, domestic, and international visitors annually and is one of the most iconic destinations in California. This is an investment out of St. Cloud’s fourth fund, which has committed capital of $236 million.

“We look forward to our alliance with St. Cloud given their long-standing tenure in Los Angeles and history of serving as a partner to growing businesses in Southern California,” said Daniel Haimovic, Managing Partner at SC Holdings, which purchased the amusement park operator in 2024.

Pacific Park’s CEO, Jeff Klocke, added that “Pacific Park is a cherished cornerstone of Los Angeles. We are thrilled to have St. Cloud involved as we realize our strategic plans for this iconic amusement landmark.”

Kacy Rozelle, Managing Partner at St. Cloud Capital, commented, “Pacific Park is a one-of-a-kind, internationally-regarded asset with deep cultural significance as a top tourist and locals’ destination in Southern California. We are excited to partner with SC Holdings and management.”

Global law firm, K&L Gates LLP, served as counsel to St. Cloud Capital. For more information about Pacific Park, please visit: www.pacpark.com

About St. Cloud Capital

St. Cloud Capital is a Los Angeles-based private investment firm founded in 2001 that provides debt and equity growth capital to the lower middle market (companies with annual revenues generally between $10 million and $150 million). St. Cloud has managed over $700 million and invested in over 80 portfolio companies. Investments have been made in a wide range of industries and in every layer of the capital structure, including senior secured debt, subordinated debt, and preferred and common stock. St. Cloud typically invests in non-control situations, acting as both a financial and strategic partner to successful and experienced ownership entities, management teams and industry entrepreneurs in fulfilling their long-term growth plans. For more information about St. Cloud Capital, please visit: www.stcloudcapital.com

Media Contact: Sheila Emami, [email protected]

SOURCE St. Cloud Capital

ATLANTA, May 19, 2025 — Atlanta-based private equity firm Eagle Merchant Partners (“Eagle” or the “Firm”) has closed its second fund, Eagle Merchant Partners Fund II, with $415 million in capital commitments. The fund was oversubscribed and closed above its original hard cap in seven months, attracting strong support from institutional investors, family offices, high net worth individuals, and members of Eagle’s team.

Fund II continues Eagle’s strategy of making control investments in founder-owned companies across the Southeastern United States, with a focus on the franchise, multi-unit and commercial services sectors. Developed over two decades, the Firm’s deep networks and extensive presence in the Southeast position Eagle to partner with business owners seeking their first institutional capital to accelerate growth.

“The Southeast remains one of the most attractive economic regions in the country, with strong demographics, a healthy business climate and a fragmented lower middle market,” said Stockton Croft, Partner and co-founder. “We are grateful for the support of our limited partners and believe this reflects the investment community’s confidence in our investment strategy and operating approach.”

Partner and co-founder Bill Lundstrom added, “Owners continue to respond to our experience, sector expertise and ability to help transform companies into market leaders. Fund II gives us the capital and resources to invest in more high-quality companies across the region.”

The fund will target opportunities where Eagle can serve as a company’s first institutional partner, providing not only capital but operational support through its established playbook. This includes investing in leadership and infrastructure, driving organic growth through geographic expansion and executing strategic add-on acquisitions. Eagle’s emphasis on team building and execution has resulted in successful value creation across multiple platforms.

Eagle’s inaugural $266 million fund closed in July 2023 and is fully deployed across eight platform investments. The Piper Sandler & Co. private capital advisory group, Aviditi Advisors, served as exclusive global placement agent for Fund II. Legal counsel was provided by Kirkland & Ellis LLP.

About Eagle
Eagle Merchant Partners is a private equity firm focused on control investments in founder-owned, lower middle-market companies in the Southeastern United States. The Firm specializes in the franchise, multi-unit and commercial services sectors and works closely with management teams to scale operations and build enduring value. For more information visit eaglemerchantpartners.com.

Thornton Kennedy
[email protected]

SOURCE Eagle Merchant Partners

AI-driven robotics platform reduces drug formulation development time from years to months

SACRAMENTO, Calif., May 19, 2025 — Persist AI, a pioneer in AI-driven robotics for pharmaceutical formulation development and Chemistry, Manufacturing, and Controls (CMC), today announced the launch of its innovative Cloud Lab platform following the successful closure of an oversubscribed $12 million Series A financing round. The new platform allows pharmaceutical companies to develop formulations using Persist AI’s state-of-the-art robotic laboratory facilities through a website, dramatically accelerating drug development timelines while using a fraction of the materials required by traditional methods.

The funding round was led by Spero Ventures with participation from MBX Capital, Shimadzu Future Innovation Fund managed by Global Brain Corporation, Eli Lilly & Company, SignalFire, Ford Street Capital, Purdue Ventures, Good AI Capital, Cartography Capital, Asymmetry Ventures, and existing investors 2048 Ventures, Innospark, and YCombinator.

“Every drug that reaches the market depends on an optimal formulation. While the industry has heavily invested in AI and predictive tools across the drug development pipeline, formulation has remained a blind spot—until now.” said Sara Eshelman, General Partner at Spero Ventures. “Persist dramatically reduces both the time and cost at every stage of development, ultimately lowering the hurdle for investment in next-generation therapeutics like long-acting injectables.”

Predict the ideal formulation with Persist’s AI models

Persist AI’s technology enables pharmaceutical companies to predict formulation recipes and performance using sophisticated AI models and subsequently build and test them using robotic systems. In a recent project with a major pharmaceutical client, Persist AI demonstrated the power of its platform by identifying an optimal long-acting injectable formulation in just two months—a process that traditionally takes a year or longer. By rapidly building and testing 700 formulations in two months, compared to the industry standard of 10-15 formulations per month, Persist AI accelerates a critical phase in bringing new drugs to market.

“AI is enabling pharma to discover new molecules faster than ever. But a molecule that has poor shelf life cannot become a drug product that sits on a shelf. Our mission is to convert these novel molecules into products, such as tablets and injections that patients can use,” said Karthik Raman, CEO of Persist. “If you can find a new drug molecule, you can predict its formulation and use our robotic platform to build and test it in the real world.”

Persist Cloud Lab – A Robotic Lab to Build and Test Formulations Remotely

Once the AI models predict a set of formulations, Persist’s Cloud Lab enables pharmaceutical scientists to test the formulation by remotely controlling the robotic lab. With a combination of miniaturization and seamless automation of formulation testing instruments, Persist’s technology leads to an unprecedented speed advantage in drug development.

Traditional testing instruments often require large volumes of liquid and significant amounts of formulation material per test. As an example, a standard dissolution testing apparatus requires 1000 mL of liquid and several grams of formulation. In contrast, Persist’s miniaturized systems can deliver results with just 1 mL of liquid and a few milligrams of material. This breakthrough not only conserves valuable drugs but also enables higher throughput testing.

“Persist AI has assembled a talented chemistry, engineering, and software team that develops exceptional automated solutions for formulation development workflows,” said Chris Shelner, COO of Persist. “We continue to improve our automation in addition to expanding capacity and workflow scope.”

Through the newly launched Cloud Lab, pharmaceutical companies worldwide can now remotely build and test formulations on Persist’s advanced robotic facilities to develop:

• Long acting injectables
• Tablets and capsules
• Topical formulations for cosmetics and pharmaceuticals
• Injectable formulations

The platform supports a wide range of modalities including peptides, small molecules, antibodies, and anti-sense oligonucleotides, currently serving multiple top 10 pharmaceutical clients and several smaller biotechs developing next-generation treatments for chronic diseases.

Series A Funding to Accelerate Growth and Innovation

The $12 million in Series A funding will support several key initiatives. Persist will build a GMP manufacturing system for long acting injectables, in collaboration with Nivagen Pharmaceuticals in Sacramento, CA. Funds will be used to expand the robotic lab and build comprehensive data sets that train the company’s AI models. Additionally, the team will expand the capacity and range of formulations the AI models and robotic lab can predict, build, and test.

Persist is actively seeking pharmaceutical partners for co-development of drug products, robotic platforms, and AI training data sets.

To learn more about Persist AI’s Cloud Lab platform and request access, visit https://www.persist-ai.com. Pharmaceutical companies interested in partnership opportunities are encouraged to contact Karthik Raman via his email below or through the website.

About Persist AI

Persist AI is revolutionizing pharmaceutical development through AI-driven robotics for formulation development and CMC. By combining predictive AI models with automated robotic systems, Persist AI enables pharmaceutical companies to develop drug formulations in a fraction of the time and cost of traditional approaches. The company works across multiple modalities and formulation types to accelerate bringing novel therapeutics to patients. Persist AI is a Y Combinator-backed company, having graduated from the prestigious startup accelerator in 2023.

About the Leadership Team

Karthik Raman, CEO and Co-founder of Persist, brings extensive expertise in formulation development. Prior to founding Persist, Raman was part of the automation team at Zymergen, developing the next generation robotic factory for synthetic biology. Co-founder Christopher Shelner serves as Chief Operating Officer, with significant expertise in automation design, operations, and deployment from his work at industry leaders including Northrop Grumman and Apple.

SOURCE Persist AI Formulations

NEW YORK, May 19, 2025 — J.P. Morgan Life Sciences Private Capital, the life sciences venture and growth equity arm within J.P. Morgan Asset Management, today announced the appointment of Dashyant (Dash) Dhanak, Ph.D., as Venture Partner. Dr. Dhanak will leverage his deep scientific and operational experience in therapeutics research and development to build and grow companies with Life Sciences Private Capital.

Dr. Dhanak is a seasoned pharmaceutical research and development expert with over 30 years of experience. Most recently, Dr. Dhanak was the Chief Scientific Officer at Deciphera Pharmaceuticals, which was acquired by Ono Pharmaceuticals in 2024. Prior to his role at Deciphera, Dr. Dhanak served as Chief Scientific Officer at Incyte, where he was responsible for overseeing the research and preclinical development of innovative medicines across the company’s hematology, oncology, and immunology franchises. During his tenure at Incyte, he contributed significantly to the filing of over fifteen Investigational New Drug (IND) applications. Before joining Incyte in 2018, Dr. Dhanak was Vice President and Global Head of Discovery Sciences at Johnson & Johnson’s (J&J) Janssen Research & Development group. Prior to J&J, he spent 25 years at GlaxoSmithKline.

“Dr. Dhanak has a proven track record of building and establishing leading biotech companies with scientific and operational excellence,” said Dr. Stephen Squinto, CIO of Life Sciences Private Capital. “We are excited to welcome Dr. Dhanak to the team, and know he will play an essential role as our platform continues to grow.”

Biography

Dashyant Dhanak, Ph.D., was most recently Chief Scientific Officer at Deciphera Pharmaceuticals, a company focused on developing innovative medicines for cancer treatment, until its successful sale to Ono Pharmaceuticals in 2024 for $2.4 billion. Prior to Deciphera, Dr. Dhanak served as Chief Scientific Officer at Incyte, where he oversaw the research and preclinical  development of groundbreaking medicines across hematology, oncology, and immunology franchises. Under his leadership, Incyte filed over fifteen Investigational New Drug (IND) applications, contributing to the company’s robust pipeline of innovative therapies. Before joining Incyte in 2018, Dr. Dhanak was Vice President and Global Head of Discovery Sciences at Johnson & Johnson’s Janssen Research & Development group where he led efforts in drug discovery and development. He also spent 25 years at GlaxoSmithKline, culminating in his role as Vice President and Head of the Cancer Epigenetics Discovery Performance Unit where he advanced research in cancer treatments. Dr. Dhanak holds a B.Sc. in Chemistry from the University of Manchester Institute of Science and Technology and a Ph.D. from the University of London. He completed his postdoctoral research in Natural Product Synthesis at Northwestern University.

About J.P. Morgan Life Sciences Private Capital

J.P. Morgan Life Sciences Private Capital (“LSPC”), is the life sciences platform of J.P. Morgan Private Capital, the investment arm for private companies across the capital structure with a focus on venture and growth investing within J.P. Morgan Asset Management. LSPC partners with leading early-stage biotherapeutics and late-stage healthcare companies. The early stage biotechnology practice is focused on company creation, Seed and Series A investments across all therapeutic areas in biotechnology. The late-stage healthcare practice is focused on Series B through pre-IPO investments within biotechnology, medical devices, tools, diagnostics, healthcare technology and pharmaceutical services.

About J.P. Morgan Asset Management

J.P. Morgan Asset Management, with assets under management of $3.7 trillion (as of 3/31/2025), is a global leader in investment management. J.P. Morgan Asset Management’s clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information, visit: www.jpmorgan.com/am

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $4.4 trillion in assets and $351 billion in stockholders’ equity (as of 3/31/2025). The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

SOURCE J.P. Morgan Asset Management

Maturing with strategic leadership – bolsters Board and C-Suite with additions of tech vets

PALO ALTO, Calif., May 19, 2025 — Theo Ai, the AI-driven prediction platform for litigation, has raised a $4.2 million seed round just six months after its $2.2 million pre-seed announcement in November. The round was co-led by returning investor NextView Ventures and new investor Collide Capital. As part of the investment, Aaron Samuels, Founder and Managing Partner at Collide Capital, will join Theo Ai’s board. The funds will be used to expand proprietary data pipelines, enhance legal corpus, and reinforce supervised learning with legal experts.

“The legal industry is at a turning point, and AI-powered predictions are becoming essential for managing client expectations and executive decision-making,” said Patrick Ip, Co-founder and CEO of Theo Ai. “With this investment, we will continue to develop the infrastructure that makes settlement predictions more precise and valuable for law firms and corporate legal teams.”

Theo Ai will use the new capital to accelerate product development, focusing on its AI-powered settlement prediction tools tailored for Big Law firms and General Counsels. The company is committed to building firm-specific prediction engines that leverage case history and proprietary data to provide actionable insights across a wider array of legal scenarios.

“The leadership team within Theo Ai continues to demonstrate a deep understanding of customer needs and the way advanced technology can reshape the legal field for decades to come,” said Rob Go, Co-Founder and Partner at NextView. “This round came together very quickly because customers are rapidly adopting what they see as a uniquely valuable solution.”

“Theo Ai is transforming the way legal teams predict and manage settlements, and we are excited to back their next phase of growth,” said Aaron Samuels, Founder and Managing Partner at Collide Capital. “Having crossed paths with Patrick early in our respective founder journeys, it’s incredible to now collaborate in building the future of AI-driven legal intelligence.”

The funding round also marks a significant expansion of Theo Ai’s leadership team with the appointment of Jay Mandal as Chief Product Officer. A Stanford Law Lecturer and former COO at SAP, Mandal brings deep expertise in AI, enterprise technology, and legal innovation. He previously was the head M&A attorney at Apple and founded a legal tech company acquired by Rocket Lawyer. The company also welcomed Rob Martorana as Head of Partnerships. A former attorney with over 25 years in legal sales and marketing, including 12 years in litigation finance, Rob brings deep expertise across portfolio, single-case, and corporate monetization strategies. He most recently founded REMO Litigation Finance and served as SVP at Burford Capital.

Theo Ai’s seed round saw participation from all pre-seed investors, including nvp capital, Ripple Ventures, and Beat Ventures. The round also welcomed new investors Four Acres Capital and a distinguished group of angel investors from across legal, finance, and technology:

• David Fox (Kirkland & Ellis)
• Bo Berluti (RTP Global)
• Ramesh Dhanaraj (ex-Fortress Investment Group)
• Vivek Nasta (ex-Thomson Reuters)
• Akash Garg (ex-Uber)
• Art Calcagnini (ex-UBS)

Theo Ai initially launched by helping litigation funders optimize their investment decisions – recently partnering with Mustang Litigation Funding – and has rapidly expanded into serving Big Law and in-house legal teams. The strong market demand led to an oversubscribed seed round, reinforcing confidence in Theo Ai’s technology and vision.

With this latest funding, Theo Ai is poised to drive the future of AI-powered legal decision-making, delivering cutting-edge predictive solutions for the legal industry.

To learn more and join the waitlist for Theo Ai, visit: Theo Ai

About Theo Ai
Theo Ai is the first predictive engine designed by technical and legal professionals to forecast the outcome of legal disputes. Its AI models are trained on historical case data and incorporate real-time analytics with predictive modeling to deliver accurate and actionable insights. Theo Ai is meeting the most critical need for legal professionals – offering accurate case outcome predictions, backed by data. To learn more and join the waitlist for Theo Ai, visit: https://theoai.ai/#product 

Media Contact:
Rick Medeiros
510-556-8517
[email protected]

SOURCE Theo Ai

Titan delivers the five key primitive capabilities—Pick, Place, Press, Twist, and Connect—essential for most industrial tasks. Titan can achieve 1mm precision for fine-grained manipulation, has a 40kg payload, 1100mm of arm reachability, and an 8-hour production runtime.

Alongside the launch of Titan, RoboForce announced an additional $5M in funding from both new and existing investors, bringing its total capital raised to $15M. This latest investment, following a $10M early-stage round in January, underscores strong investor confidence in RoboForce’s vision to become the global leader in AI robotics and highlights surging market demand for transformative Robo-Labor technology.

“We’re excited about the official launch of Titan,” said Leo Ma, founder and CEO of RoboForce. “Titan marks just the beginning—we’re excited to share more breakthroughs in the near future. The additional funding demonstrates the confidence in our vision to elevate humans beyond dull, dirty, and dangerous work.”

RoboForce is actively working with customers across solar, mining, manufacturing, space, and beyond, with several pilot programs planned for 2025. The latest funding fuels rapid team growth and a new, expanded headquarters in the heart of Silicon Valley, featuring advanced facilities for development and testing.

RoboForce is hiring top talent in AI and robotics to join the growing team and build the future of physical AI and Robo-Labor.

About RoboForce
RoboForce is an AI robotics startup pioneering the world’s most advanced Robo-Labor systems. Its mission is to elevate humanity by automating dull, dirty, and dangerous work—starting with Titan. To learn more about RoboForce, visit https://www.roboforce.ai/.

Press Inquiries:
Ryleigh Bannister
JMG Public Relations
212-206-1645
[email protected]

SOURCE RoboForce