Atlas Data Storage is an information technology company building data storage products leveraging the unique properties of synthetic DNA

Data storage and DNA technology veterans Varun Mehta, George Kadifa, and Bill Banyai to lead company

The company recently raised initial seed financing and completed the acquisition of DNA data storage assets from Twist Bioscience

SOUTH SAN FRANCISCO, Calif., May 5, 2025 — Atlas Data Storage, Inc., a technology company building end-to-end DNA data storage, announced today the close of a $155 million seed financing and the acquisition of technology assets from Twist Bioscience.

Atlas is focused on commercializing data storage products that leverage the unique properties of synthetic DNA: extremely high data density, 1,000+ year durability, unlimited low-cost copies, and scalability. The company is spearheading the convergence of synthetic biology and information technology. Atlas’ core technology combines novel semiconductor chips and enzyme engineering, ushering in a new era of high-throughput and massively parallel chemistry performed on a chip.

Atlas data center products will equip hyperscaler, enterprise, and government customers to meet the data storage demands of the AI era with low cost, ultra-high density, secure, scalable storage. DNA data storage will be designed to enable greener data centers with permanent storage that requires no ongoing migration or rewriting, reduced power demands, and minimized carbon impact and e-waste.

The company is led by an integrated team of data storage industry veterans and DNA and semiconductor technology experts. Varun Mehta, highly experienced in the data storage industry, will serve as CEO. Mehta is a veteran of several successful startups and was a founder of Nimble Storage, which was acquired by Hewlett Packard in 2017. Bill Banyai, who previously developed DNA sequencing technology at Complete Genomics and DNA synthesis technology at Twist Bioscience, will serve as CTO. George Kadifa, a tech industry veteran who served in key positions at Hewlett Packard, IBM, Oracle, and Silver Lake, will assume the role of Executive Chairman.

“The opportunity to create an entirely new storage medium does not arise often. At Atlas Data Storage, we are pioneering the use of DNA for high-capacity storage,” said Varun Mehta, CEO of Atlas. “DNA enables highly scalable, ultra-dense, secure, permanent data storage, and the potential to reshape storage is tremendous. Atlas has the right team and technology to realize this promise.”

“Data is central to the modern economy, and the amount of stored data is growing rapidly,” said George Kadifa, Executive Chairman of Atlas. “New technologies such as artificial intelligence are further accelerating demand for storage. I’m confident that the data storage technology that Atlas is creating will enable storing billions and billions of terabytes at low cost, power, and waste. Atlas is also driving US leadership in key technology domains, which will have an immense long-term economic and national security impact.”

The seed financing investors are ARCH Venture Partners, Deerfield Management, Bezos Expeditions, Tao Capital Partners, Rsquared VC, Earth Foundry, In-Q-Tel (IQT), and other undisclosed investors. 

About Atlas Data Storage, Inc. 
Atlas Data Storage is a technology company building end-to-end DNA data storage. For additional information, please visit www.AtlasDS.com.

Media Contact: 
[email protected] 

SOURCE Atlas Data Storage

MIAMI and FRANKLIN, Tenn., May 5, 2025 — Thoma Bravo, a leading software investment firm, today announced a strategic growth investment of more than $100 million in HubSync, the premier all-in-one tax and accounting platform, automating CPA firms. The investment is expected to accelerate HubSync’s product roadmap and customer service, as well as enable continued growth and innovation.

HubSync is a leader in tax and accounting automation and client experience, empowering accounting firms and tax professionals with its innovative platform that drives efficiency, accuracy, and enhanced workflows for its clients. More than 85% of top CPA firms rely on five or more software point solutions to manage their workflows—which allow all-in-one modern and automated solutions like HubSync to drive significant ROI in comparison.

Founded in 2019, HubSync has experienced rapid growth, achieving 744% revenue expansion from 2020 to 2024 while delivering strong profitability. Today, HubSync serves some of the largest CPA firms in the U.S. who have transformed their client facing experience and internal accounting preparation workflow with HubSync’s innovative solutions. HubSync has over 40% of the top 25 accounting firms in the United States as customers, with a robust pipeline of future growth.

“HubSync’s mission to modernize tax and accounting technology has reshaped the industry,” said John McGowan, Founder and CEO of HubSync. “Thoma Bravo’s expertise in scaling software companies will help accelerate our innovation, expand our industry reach, and enhance the value we deliver to our clients.”

Prior to founding HubSync, John spent more than 20 years driving technology and innovation as KPMG’s Chief Information Officer for global tax and and leading Tax Technology at Deloitte.

“This investment is a testament to the strength of our platform and team. We look forward to partnering with Thoma Bravo to drive further growth and transformation of the tax and accounting landscape,” says John McGowan.

“HubSync’s cutting-edge technology and market leadership position it as a standout in the tax and accounting software space,” said Ross Devor, a Partner at Thoma Bravo. “John and his team have used their deep industry experience to build a platform that meets the critical needs of tax and accounting professionals as they seek to unlock efficiencies and streamline their workflows, as well as elevate customer experience and satisfaction. We see tremendous potential to scale HubSync’s solutions and capture a larger share of this growing market.”

“We’ve been impressed by HubSync’s rapid growth and innovative approach,” said Dillon Biddiscombe, a Vice President at Thoma Bravo. “We’re excited to leverage our operational expertise to support HubSync’s next phase of expansion.”

Kaizen Equity Partners served as financial advisor and Taft Law acted as legal counsel to HubSync. Goodwin served as legal counsel to Thoma Bravo.

About HubSync

HubSync is a leading provider of tax compliance and workflow automation software currently servicing the leading CPA firms across the US and Canada, representing over 100% customer growth over the last year. Headquartered in Franklin, Tennessee, HubSync was founded in 2019 and has been recognized on the 2024 Deloitte Technology Fast 500 for its 550% revenue growth. For more information, visit www.hubsync.com.

About Thoma Bravo
Thoma Bravo is one of the largest software-focused investors in the world, with over US$179 billion in assets under management as of December 31, 2024. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo’s deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in approximately 520 companies representing approximately US$275 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, Dallas, London, Miami, New York and San Francisco. For more information, visit Thoma Bravo’s website at thomabravo.com.

Media Contacts:

For HubSync:
Elizabeth Weissman
[email protected]
(917) 863-2863

For Thoma Bravo:
Megan Frank
[email protected]
(212) 555-7890

For FGS Global:
Abby Farr
[email protected]
(646) 957-2067

SOURCE Thoma Bravo

Investment positions SETWorks for accelerated innovation and expanded impact in disability services

KANSAS CITY, Mo., May 2, 2025 — SETWorks, a leading software provider for disability service agencies and human services providers, has secured a strategic growth investment from Polaris Growth Fund (PGF).

Founded in the early 2000s, SETWorks delivers industry-leading software and services, tailored specifically to the disability services sector, empowering organizations to spend more time on impacting the lives of the individuals they serve.

The company’s purpose-built platform enables administrators and direct support professionals to efficiently manage complex state-specific compliance and funding requirements, significantly improving productivity, billing reimbursements, and access to quality data at their fingertips, ultimately facilitating increases in community reach and impact.

“The motivation for seeking an investment partner was to further fulfill SETWorks’ mission of empowering those who serve others,” said Henri McCracken, co-chief executive officer of SETWorks. “We were extremely selective in finding a partner who shares our vision, and we are ecstatic to have found PGF, and humbled by their conviction in us. This partnership will enable us to continue innovating and supporting providers on a larger scale across the entire spectrum of disability services.”

Co-Chief Executive Officer David Lindell added “I’m thrilled about how this partnership will enable us to enhance the support and services we provide to the incredible organizations we serve. We care deeply about the vital work they do and the lives they impact, and this investment will help us serve them even better. It will directly accelerate product improvements, including the expansion of our AI capabilities, making a tangible difference for our clients and the individuals they support.” 

McCracken and Lindell will continue to lead SETWorks and serve on its board of directors.

“SETWorks has transformed the IDD landscape by combining deep industry expertise with innovation to deliver valuable technology to resource-constrained agencies nationwide,” said Bryce Youngren, managing partner at PGF who will join the SETWorks board of directors. “Together with David and Henri, we are grateful for the opportunity to support SETWorks’ vision for the next chapter of growth.”

“This investment exemplifies the kind of passionate team we seek to partner with,” said Jeff Del Presto, vice president at PGF, who will also join the board. “We believe SETWorks is poised for category leadership and industry-wide impact, and we’re excited to accelerate its mission.”

About SETWorks

SETWorks is a leading technology provider dedicated to empowering disability service agencies and human services providers. With over 20 years of expertise, SETWorks serves organizations in 38 states, enabling them to streamline operations, enhance compliance, and deliver impactful services.

SOURCE SETWorks

In her new role, Khubani will spearhead enhancing portfolio monitoring, optimizing investment decisions, and strengthening risk management strategies.

MENLO PARK, Calif., May 2, 2025 — Runway Growth Capital LLC (“Runway”), a leading provider of growth loans to venture and non-venture-backed companies, today announced the promotion of Avisha Khubani to Managing Director of Portfolio Analytics. In her expanded role, Khubani will continue to oversee the performance of Runway’s portfolio companies while enhancing Runway’s risk assessment and monitoring frameworks to ensure sustainable growth for its investments.

Khubani, who joined Runway in 2018 as a Vice President, has played a key role in shaping the firm’s portfolio analytics function.

Prior to joining Runway, Khubani was a Vice President in the Portfolio Valuation service line at Kroll Inc. (f/k/a Duff & Phelps), where she specialized in valuing complex portfolios of private loans and equity, including senior secured and subordinated debt, convertible preferred and common equity, and other structured financial instruments. She also gained significant expertise in business and intangible asset valuation as an associate at Empire Valuation Consultants and has held finance roles within multiple venture-backed companies.

“Avisha has been a key contributor to Runway’s success, bringing deep analytical rigor and a strong understanding of risk management to our investment platform,” said David Spreng, Founder and CEO of Runway. “Her leadership and expertise have been invaluable in optimizing our portfolio’s performance, and we are thrilled to recognize her contributions with this well-deserved promotion.”

“It’s been an incredible journey at Runway, and I am excited to step into this expanded role,” said Khubani. “Runway’s commitment to providing strategic growth capital to innovative companies aligns with my commitment to disciplined investing and thoughtful portfolio management. I look forward to continuing to support our borrowers and investors with industry-leading insights and risk frameworks.”

Khubani holds an M.B.A. from the New York University Stern School of Business and an undergraduate degree from Montclair State University. She is also a Chartered Financial Analyst (CFA).

About Runway Growth Capital LLC
Runway Growth Capital LLC is the investment adviser to investment funds, including Runway Growth Finance Corp. (Nasdaq: RWAY), a business development company, and other private funds, which are lenders of growth capital to companies seeking an alternative to raising equity. Led by industry veteran David Spreng, these funds provide senior term loans of a target of $10 million to $150 million to fast-growing companies based in the United States and Canada. For more information on Runway Growth Capital LLC and its platform, please visit www.runwaygrowth.com.

Forward-Looking Statements
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition, or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission made by Runway and Runway’s affiliated funds. Neither Runway nor Runway’s affiliated funds undertake a duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

SOURCE Runway Growth Capital LLC

SINGAPORE, May 1, 2025 — HistoIndex, known for its groundbreaking biophotonic Second Harmonic Generation (SHG) technology and a pioneering leader in Artificial Intelligence (AI) digital pathology for the management of fibrotic diseases, has announced the close of a S$9 million investment round to support its next phase of expansion. OCBC, the longest established bank in Singapore and the second largest financial services group in Southeast Asia by assets, investing for the first time in a medical technology/healthcare company, leads the round with continued support from two existing shareholders – ZIG Ventures and SEEDS Capital, an investment arm of SG Growth Capital.

Daniel Kwan, Global Head of the Mezzanine Capital Unit at OCBC, said: “HistoIndex’s groundbreaking technology has revolutionized liver disease diagnostics through cutting-edge AI innovations, and has the potential to enhance global healthcare by enabling precise and personalized patient care. We are proud to support this homegrown MedTech company with its growth plans and international ambitions.”

With the increasing demand for routine clinical testing of Metabolic Dysfunction-Associated Steatohepatitis (MASH), particularly in liver biopsy assessment, this investment is focused on 1) expanding HistoIndex-partnered laboratories and operations within the US; and 2) developing next-generation AI-powered SHG digital pathology tests for MASH patients.

In line with this mission, HistoIndex has recently launched its very first Laboratory Developed Test (LDT), FibroSIGHT™ – now available for order in the US. FibroSIGHT™ is designed to empower clinicians with accurate and consistent liver fibrosis assessment¹. The first in a pipeline of new product launches reaffirms HistoIndex’s commitment to revolutionizing personalized treatment for MASH. By integrating research in pivotal clinical trials with clinical practice, the company is advancing precision medicine with the aim of improving patient outcomes worldwide.

“This investment plays an enabling role in positioning the company for strategic expansion within the US, while accelerating the adoption of advanced digital pathology solutions poised to transform MASH diagnosis and treatments.” said Dr. Gideon Ho, Chief Executive Officer of HistoIndex.

About MASH

Metabolic dysfunction-associated steatohepatitis (MASH) is a progressive form of Metabolic dysfunction-associated steatotic liver disease (MASLD) characterized by steatosis and inflammation, which can lead to fibrosis (scarring), cirrhosis, liver failure, and an increased risk of liver cancer. The presence of ballooned hepatocytes (enlarged and damaged liver cells) is a key feature distinguishing MASH from simple steatosis. Pathologist assessments of liver biopsy remain the gold standard for diagnosing and assessing the severity of MASH. Histological categorial scoring systems are often used as surrogate endpoints to evaluate drug efficacy in clinical trials. These endpoints are limited in capturing the complex and heterogeneous nature of the disease. As a result, there is a growing need for more accurate and reliable tools, such as AI-based digital pathology solutions, to improve the assessment of treatment response and disease severity in MASH.

About HistoIndex

Founded in 2010, HistoIndex pioneers in stain-free, fully automated imaging solutions for visualizing and quantifying fibrosis in biological tissues. By combining cutting-edge biophotonic technology with AI-based analysis, HistoIndex provides innovative tools to improve the assessment of fibrosis changes and drug efficacy. HistoIndex’s breakthrough digital pathology solutions are currently used in accelerating clinical research, expediting pharmaceutical drug development, and transforming medical standards.

References: 

1.  https://histoindex.com/fibrosight/

SOURCE Histoindex Pte. Ltd.

Grant aims to expand food assistance efforts to help communities affected by the Greater Los Angeles Wildfires

LOS ANGELES, May 1, 2025 — The Los Angeles Regional Food Bank is pleased to announce a $1 million grant from the American Red Cross to the Food Bank’s disaster relief fund. These funds will help people facing disasters in the wake of the Greater Los Angeles Wildfires.

This partnership aims to expand and enhance the services the Food Bank provides in Los Angeles County, enabling the organization to reach more individuals and families in need with emergency food and nutrition support. With this funding, the Food Bank will continue the distribution of emergency food kits, stock community agency partners and provide shelf-stable food to those experiencing food insecurity due to the disaster.

“We are deeply grateful to the American Red Cross for this generous grant,” said Michael Flood, President and CEO of the Los Angeles Regional Food Bank. “As wildfires displace families and disrupt lives across Los Angeles County, this support will allow us to continue providing critical food assistance to our neighbors.”

“The Red Cross is proud to support the Los Angeles Regional Food Bank as they deliver this essential service across their vast network of agency partners,” said Amanda Ree, director of wildfire long-term recovery programs at the American Red Cross. “Hunger is just one of the many challenges made worse with disaster and thanks to this partnership, together, we can play a part in alleviating it, as survivors across the County work to recover and rebuild.”

This partnership is part of the national Red Cross Long-Term Recovery Program, which supports individual and household recovery and addresses community-wide needs following a disaster.

If you or someone you know is in need of food assistance, please visit LAFoodBank.org/find-food.

About Los Angeles Regional Food Bank:
The Los Angeles Regional Food Bank has been mobilizing resources to fight hunger in Los Angeles County for over 50 years. To support the Food Bank’s vision that no one goes hungry in Los Angeles County, food and grocery products are distributed through a network of partner agencies and other Food Bank programs. The Food Bank also energizes the community to get involved and support hunger relief, especially through volunteerism, and conducts nutrition education campaigns and advocates for public policies that benefit people served and improve nutrition security. The Food Bank is rated at the highest level by Candid and Charity Navigator, and 96% of all revenue goes to programs. For more information, visit LAFoodBank.org.

About the American Red Cross:
The American Red Cross shelters, feeds and provides comfort to victims of disasters; supplies about 40% of the nation’s blood; teaches skills that save lives; distributes international humanitarian aid; and supports veterans, military members and their families. The Red Cross is a nonprofit organization that depends on volunteers and the generosity of the American public to deliver its mission. For more information, please visit redcross.org or CruzRojaAmericana.org, or follow us on social media.

Media Contact: David May
Telephone: (323) 383-1319
[email protected]

SOURCE LOS ANGELES REGIONAL FOOD BANK

Two Loans Totaling $145 Million Secured; Lenders are Silver Point Capital and Brodsky/Tikehau Capital

BROOKLYN, N.Y., May 1, 2025 — Charney Companies and Tavros today announced significant funding for 175 Third Street, the planned fourth building in their jointly developed campus Gowanus Wharf. Once completed, 175 Third Street will be the largest building in Gowanus, with approximately 1 million square feet and 1,000 residences. Upon completion of the project, Charney and Tavros will have developed and will own over 2 million square feet and 2,200 residences in Gowanus, making them the largest owner in the neighborhood.

Two acquisition/pre-development loans totaling $145 million have been secured, with Silver Point Capital providing $110 million and Brodsky/global alternative asset manager Tikehau Capital providing $35 million as the mezzanine lender.

“This acquisition represents a major step forward in our vision for Gowanus Wharf and we truly value the commitment of our partners, Silver Point Capital and Brodsky/Tikehau Capital,” said Justin Pelsinger, COO Charney Companies. “We’re thrilled to secure this significant site, our fourth in the portfolio, and embrace the opportunity it presents. Our focus will be on delivering high-quality, much-needed housing for New Yorkers and actively participating in the positive transformation and further development of the vibrant Gowanus neighborhood.”

With 37,000 square feet of publicly accessible waterfront esplanade and open space, 175 Third Street is directly across from Whole Foods and is considered the southern gateway to Gowanus. Design and landscape elements will be led by James Corner Field Operations, the renowned landscape architects whose works include the High Line in Manhattan, Fresh Kills Park on Staten Island, and Domino Park in Brooklyn.

“175 Third represents the culmination of our work in creating Gowanus Wharf as the market leading new residential innovation in New York City, said Nicholas Silvers, Founding Partner, Tavros. “This project will crystallize all of the incredible efforts from the community board, elected and the surrounding special Brooklyn neighborhoods to rezone and elevate what is possible in NYC when the public and the private sectors work together to achieve great things.”

“We are excited to partner with Charney Companies and Tavros in the acquisition of this dynamic project,” said Anthony DiNello, Head of Direct Lending, Silver Point Capital. “The development of new, high-quality, transit-oriented projects is critical, and we look forward to supporting Charney and Tavros in bringing 175 Third Street to fruition.”

“The Brodsky Organization is proud to provide mezzanine financing to Tavros and Charney alongside our partners at Tikehau. Together, Brodsky and Tikehau are committed to providing financing solutions and contribute to the vibrancy and growth of emerging neighborhoods like Gowanus,” said Thomas Brodsky of Brodsky.

“We are proud to support the next chapter of the Gowanus transformation with Charney Companies and Tavros, building upon a strategic partnership with The Brodsky Organization,” said Maxime Laurent-Bellue, Co-head of Credit and Edoardo Crotta, executive director within the Real Estate Credit team, Tikehau Capital “This investment reflects the strength of our growing global credit franchise and marks a significant step in our expansion into the U.S. real estate market. We are committed to financing high-impact, forward-looking developments that deliver long-term value for communities and investors alike.”

A JLL team led by Senior Managing Directors Christopher Peck and Peter Rotchford, Senior Director Nicco Lupo, Managing Director Lauren Kaufman, and Vice President Jonathan Faxon represented the borrowers.

About Charney Companies:
Founded in 2013, Charney Companies is a fully integrated real estate development, construction, brokerage, and management firm with a focus on developing, owning, and operating first-class residential and commercial real estate in the New York City Metro area. From ground-up construction to adaptive reuse and value-add repositioning, Charney plays an integral role in all aspects of the development process and leverages the expertise and experience of their principals to deliver superior products to the marketplace and best-in-class returns for their investors. Charney owns, operates, and is under construction on two million square feet throughout Brooklyn and Queens, and has won awards and accommodations from municipal organizations and media outlets for their work over the last 5 years. For more information, visit: https://charneycompanies.com/.

About Tavros:
Tavros is a privately-owned real estate investment management and development firm. They invest on a discretionary basis, with a strong focus on New York City, and a global investor base of family offices, trusts, high net worth individuals, and institutions. Core to the Tavros discipline is the quality of its partnerships with tenants, investors, and lenders. As an owner and property manager, Tavros aims to ensure a positive experience for its tenants through attention to detail and a focus on quality of life.

About Silver Point:
Silver Point is a leading global credit investing firm founded in 2002. With a dedicated team of over 350 employees, Silver Point oversees $38 billion in investable assets across a comprehensive credit platform that includes public and private investment strategies. Silver Point’s Direct Lending business has delivered customized financing solutions to middle-market companies across a broad range of industries. It works in close partnership with borrowers, developing a thorough understanding of their businesses and addressing a wide variety of capital needs with speed and certainty. Silver Point’s flexible mandate is designed to allow clients to execute on M&A activity, refinancings and growth capital, among a range of transaction types. Silver Point’s Direct Lending business manages over $16 billion in investable assets. For more information, please visit www.silverpointcapital.com.

About Brodsky:
The Brodsky Organization is one of Manhattan’s most established developers, owners, and managers of residential and commercial spaces in New York City. The Brodsky Organization’s relationship with its residents is the foundation of its success. Every element of building life is supported by a dedicated and attentive management team. The Brodsky Organization offers intelligently designed apartments with exceptional views, which are in some of the most desirable neighborhoods in Manhattan and Brooklyn. The company has developed over 10,000 apartments in more than 85 rental, condominium, and co-op buildings. The portfolio ranges from charming brownstones to renovated pre-war doorman buildings, to newly constructed high-rises with extensive building amenities. The neighborhoods span from West and Greenwich Village to Chelsea, Midtown West to Morningside Heights, and Midtown East to Carnegie Hill and Downtown Brooklyn.

About Tikehau Capital:
TiTikehau Capital is a global alternative asset management Group with €50.6 billion of assets under management (at 31 March 2025). Tikehau Capital has developed a wide range of expertise across four asset classes (credit, real assets, private equity and capital markets strategies) as well as multi-asset and special opportunities strategies. Tikehau Capital is a founder-led team with a differentiated business model, a strong balance sheet, proprietary global deal flow and a track record of backing high quality companies and executives. Deeply rooted in the real economy, Tikehau Capital provides bespoke and innovative alternative financing solutions to companies it invests in and seeks to create long-term value for its investors, while generating positive impacts on society. Leveraging its strong equity base (€3.2 billion of shareholders’ equity at 31 December 2024), the Group invests its own capital alongside its investor-clients within each of its strategies. Controlled by its managers alongside leading institutional partners, Tikehau Capital is guided by a strong entrepreneurial spirit and DNA, shared by its 750 employees (at 31 March 2025) across its 17 offices in Europe, the Middle East, Asia and North America. Tikehau Capital is listed in compartment A of the regulated Euronext Paris market (ISIN code: FR0013230612;  Ticker: TKO.FP). For more information, please visit: 

SOURCE Gowanus Wharf

TORONTO, PALO ALTO, Calif. and EDMONTON, AB, May 1, 2025 – Raiven Capital, the cross-border venture firm known for its AI and IoT investments, announces the launch of Raiven Climatech, a $100M USD fund targeting high-growth startups building digital infrastructure to solve global sustainability and climate challenges.

Raiven Climatech builds on its successful early-stage investment record merging deeptech with market-ready applications. The fund focuses on scalable, intelligent systems—leveraging AI and IoT to enable real-time decision-making, resource optimization, and emissions reduction across many sectors – energy, manufacturing, mobility, and agriculture.

“The next generation of climate solutions will come from connected, data-driven platforms,” said Paul Dugsin, General Partner and Co-Founder of Raiven Capital. “We’re looking for founders building mission-critical systems with global potential—and we bring more than capital. Our global network and deep operational experience help accelerate scale.”

A key differentiator of Raiven Climatech is its anchor investor: Frog Lake First Nation (FLFN). This landmark partnership mobilizes First Nation capital in the VC space, aligning a shared vision of building commercially successful, future-focused businesses that deliver environmental and economic outcomes.

“We see venture capital as a tool to shape a future that aligns with our values,” said Cliffton Cross, FLFN representative. “Raiven uniquely understands that profitability and impact are not at odds—and empowers us to back technologies that are both investable and transformational.”

Raiven’s Climatech Fund serves as a platform to commercialize Indigenous-led innovation, blending traditional knowledge systems such as “two-eyed seeing” with frontier technologies to develop practical, market-driven solutions in digital infrastructure and clean energy innovation.

“Frog Lake First Nation approached us as they saw the results from our first tech fund—and wanted to co-create a more ambitious future,” said Supreet Manchanda, General Partner at Raiven. “This partnership focuses on mobilizing capital, uncovering undervalued ideas, knowledge-transfer while delivering outsized returns.”

Raiven’s approach to climate innovation is a fundamental re-platforming of global industry. The most valuable companies of the next decade will be those that turn AI and IoT powered sustainability into defensible, high-margin business models.

About Frog Lake First Nation

Frog Lake First Nation invests in transformative innovation that blends Indigenous values with cutting-edge technology. By investing in innovation FLFN sees a path to clean energy and sustainability. According to the Indigenous Clean Energy (ICE) initiative, 200+ Indigenous-led clean energy projects are operational or under development across Canada. FLFN is among the first Indigenous organizations in North America to anchor a venture capital fund focused on climate tech and digital transformation.

About Raiven Capital

Raiven Capital is a global VC, investing at the intersection of Artificial Intelligence, Internet of Things, and operational transformation. With hubs in Silicon Valley, Toronto, and Dubai, Raiven has delivered multiple successful exits since 2020. Its portfolio spans deeptech and digital platform companies driving systemic change. Learn more at raivencapital.com or follow Dry Powder, Raiven’s thought leadership platform.

SOURCE Raiven Capital

Latest Series A3 financing includes Labcorp, along with new and longtime investors

SCOTTSDALE, Ariz., May 1, 2025 — CND Life Sciences, Inc. (CND) announced today that it has raised $13.5 million in its Series A equity financing round, with $8.6 million in its most recent Series A3 offering. The company’s strong growth has been fueled by its innovative Syn-One Test^® that uses skin biopsy tissue to detect and quantify the abnormal form of the alpha-synuclein protein, a known pathological hallmark of Parkinson’s disease (PD), dementia with Lewy bodies (DLB), multiple system atrophy and other related disorders.

“This is a defining time for the neurodegeneration field,” said Richard J. Morello, CND’s chief executive officer. “CND uses proven technology to help clinicians diagnose diseases like Parkinson’s earlier and more precisely than ever before, while collaborating with biopharmaceutical companies to improve the chances for successful clinical trials for novel therapies. We are grateful for the significant support of our mission by many dedicated investors.”

CND launched its Syn-One Test in late 2019, which has been used by nearly 3,000 neurologists and other clinicians to aid in the diagnosis of synuclein-associated disorders like PD for more than 35,000 patients. In 2024, CND published a key study in the Journal of the American Medical Association demonstrating Syn-One’s 95.5% sensitivity overall in detecting abnormal synuclein in patients with different synuclein-associated diseases. Additionally, Syn-One Biomarker Technology™, which leverages CND’s AI-assisted platform NerValence™ to quantify the amount of synuclein detected in cutaneous nerves, is being applied in multiple pharmaceutical clinical trials with the hope of measuring an investigational drug’s effect on the pathological protein.

“Without accurate diagnosis and objective measures of disease progression and therapy response, treatment of the synuclein-related disorders will be hampered,” said Christopher Gibbons, MD, chief scientific officer of CND. “Using our proprietary technology, we are able to support a more precise diagnosis and provide convenient, reproducible measures of disease progression and severity in PD, DLB and other synucleinopathies. These advancements offer real opportunities to deliver more effective patient care and accelerate development of disease-modifying therapies.”

CND’s latest Series A3 round included funding from existing investor groups Cambrian Capital Partners, Tanis Ventures, Lupo Labs, Top Corner Capital, HonorHealth, Triana, Gold Bench Capital and BlueStone Ventures and from new investors Labcorp, a global leader of innovative and comprehensive laboratory services, MBX Capital and Vilas Ventures.

“We are excited to support CND’s mission to scale access to their Syn-One Test as part of our deep commitment to help deliver innovative neurology tests and treatments,” said Megann Vaughn Watters, Labcorp’s vice president of New Ventures & Strategic Alliances. “We are encouraged by the strong adoption of CND’s innovative testing that is providing actionable information to ordering clinicians and closing gaps in care for patients facing neurodegenerative diseases.”

About CND Life Sciences
CND Life Sciences supports the care of patients facing the potential diagnosis of neurodegenerative disease and other neurological conditions. Operating a CLIA-certified and CAP-accredited laboratory in Scottsdale, Arizona, CND developed the Syn-One Test to help clinicians diagnose synucleinopathies that include Parkinson’s disease, dementia with Lewy bodies, multiple system atrophy, pure autonomic failure and REM sleep behavior disorder. Syn-One uses proprietary immunofluorescence techniques to detect, visualize and quantify phosphorylated alpha-synuclein in cutaneous nerves. Results of a prospective, multicenter NIH-sponsored study of the Syn-One Test were published in the Journal of the American Medical Association (JAMA) in 2024 demonstrating >95% sensitivity overall in patients with a clinically determined synucleinopathy.¹ The test analyzes three small skin biopsy samples collected in a clinician’s office through an in-office patient procedure and includes an assessment of intraepidermal nerve fiber density and other important pathologic markers. Nearly 3,000 neurologists and other clinicians in 50 states have used the Syn-One Test to support their diagnostic evaluation of patients. The company also collaborates with biopharmaceutical companies on clinical trials for investigational therapies targeting neurodegenerative diseases and is conducting studies assessing the test’s ability to provide early disease detection and prognostic insights. For more information, visit cndlifesciences.com or connect with us on LinkedIn.

¹Gibbons CH, Levine T, Adler C, et al. Skin biopsy detection of phosphorylated α-synuclein in patients with synucleinopathies. JAMA. 2024;331(15):1298–1306. doi:10.1001/jama.2024.0792.

Media Contact:
Jaryd Leady
(856) 803-7855
[email protected]

Company Contact:
Kathryn Van Wie
SVP, Commercial Strategy & Market Development
[email protected]

SOURCE CND Life Sciences