NEW YORK, Dec. 20, 2024 — Jackson Rose, a venture capital firm, is proud to announce its participation in Tenstorrent’s Series D funding round alongside Bezos Expeditions, LG Electronics, and Hyundai Motor Group. The round was led by Samsung Securities and AFW Partners. Other investors in the round include Fidelity Management, Healthcare of Ontario Pension Plan, and Baillie Gifford. Tenstorrent raised over $693M in its Series D round at a pre-money valuation of $2B.

“We are excited to be working with Jackson Rose to scale our business for the future,” said Keith Witek, Chief Operating Officer of Tenstorrent. “Jackson Rose is part of the syndicate of investors that gives Tenstorrent a balance of financial investors, industry luminaries, and strategic investors that are all unified in their conviction of our plans for AI. They respect our team, our technology, and our vision. They see the ~$150M in deals closed as a strong signal of commercial traction and opportunity in the market.”

Tenstorrent will use the Series D funding to build out open-source AI software stacks, hire developers, expand its global development and design centers, and build systems and clouds for AI developers.

“Our investors are great,” said Jim Keller, CEO of Tenstorrent. “During the fundraising process I was impressed by how interested our investors were in our open-source approach to software. They realize that the way to win is to get developers on board by giving them all the tools they need to own their own technology.”

About Tenstorrent

Tenstorrent is a next-generation computing company that builds computers for AI. Tenstorrent is headquartered in North America and has locations in Toronto, Austin, and Silicon Valley, and global offices in Belgrade, Tokyo, Bangalore, Singapore, and Seoul. Tenstorrent brings together experts in the fields of AI software, computer architecture, silicon design, and advanced systems. Tenstorrent is backed by Eclipse Ventures and Real Ventures, among others. Learn more @ tenstorrent.com.

About Jackson Rose

Jackson Rose is a venture capital firm headquartered in New Jersey. For more information, please email [email protected].

SOURCE Jackson Rose

SINGAPORE, Dec. 20, 2024 — bolttech, the fast-growing global insurtech, today announced Dragon Fund, by Liquidity and MUFG, is leading bolttech’s Series C funding round alongside investors Baillie Gifford, Generali – through Lion River, the Group’s company dedicated to Private Equity, and others, which is expected to total more than US$100 million. Following bolttech’s record-breaking Series A and B rounds, the Series C up-round values bolttech at US$2.1 billion and the investment will further enhance its global growth strategy.

The strategic support of lead investor Dragon Fund alongside the follow-on investors and the Series C funding will enable bolttech to continue to enhance its platform’s capabilities, expand its market presence globally, and accelerate its goal to make insurance more tailored, accessible, affordable and convenient for customers. This investment follows bolttech’s previous successful funding rounds, further establishing its role as a leader in the insurtech space.

Ridhi Chaudhary, CIO of Dragon Fund, said, “We are excited to lead bolttech’s Series C round. In a short time, bolttech has become a leading, embedded insurtech player with global presence and scale. We are impressed by its tech capabilities and execution. I look forward to joining the Board of Directors and supporting its next phase of growth.”

Aakash Tulsani, Managing Director at Dragon Fund, added, “bolttech’s differentiated technology and program management solution integrates insurance into customer purchase journeys, enhancing access to affordable, customized products. As a technology-first provider, bolttech is well positioned to shape the future of embedded insurance a $70B+ addressable market globally.”

Hendrik Borginon, Investment Manager, Baillie Gifford, said, “bolttech is a pioneering force in the embedded insurance space. By enabling seamless integration of insurance products into their distribution partners, bolttech is transforming how insurance is bought and sold globally. With a highly experienced team at the helm, we are optimistic about their potential to drive significant growth and profitability in the coming years.”

Rob Schimek, Group Chief Executive Officer, bolttech, said, “This latest round of funding is an endorsement of our value proposition and marks another significant milestone for bolttech. The funding also demonstrates our relentless pursuit of innovation and excellence as we enable the insurance industry. With this investment from Dragon Fund and our Series C investors, we will continue to revolutionise the future of insurance through our leading technology-enabled ecosystem.”

About bolttech
bolttech is a global insurtech with a mission to build the world’s leading, technology-enabled ecosystem for protection and insurance. bolttech serves customers in more than 35 markets across Asia, Europe, North America, and Africa.

With a full suite of digital and data-driven capabilities, bolttech powers connections between insurers, distributors, and customers to make it easier and more efficient to buy and sell insurance and protection products.

For more information, please visit: www.bolttech.io

About Dragon Fund
Launched in 2023, Dragon Fund, by Liquidity and MUFG, is an equity investment platform that invests globally in growth-stage technology and technology enabled companies. The platform leverages Liquidity’s proprietary technology in its investment process and MUFG’s extensive global network.

For more information, please visit: www.dragonfunds.com

About Baillie Gifford
Baillie Gifford is an independent investment partnership founded over a century ago in Edinburgh, owned and run by 58 partners who all work at the firm. The firm’s mission is to find game-changing companies (both public and private) that can sustain growth and provide returns for clients over five to ten years and longer. With 1,708 staff and assets under management of £218bn, it has offices in Edinburgh, Amsterdam, Dublin, Frankfurt, Hong Kong, London, New York, Shanghai, Toronto, and Zurich (at 30 September 2024). 

About The Generali Group
Generali is one of the largest global insurance and asset management providers. Established in 1831, it is present in over 50 countries in the world, with a total premium income of € 82.5 billion in 2023. With around 82,000 employees serving 70 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America. At the heart of Generali’s strategy is its Lifetime Partner commitment to customers, achieved through innovative and personalised solutions, best-in-class customer experience and its digitalised global distribution capabilities. The Group has fully embedded sustainability into all strategic choices, with the aim to create value for all stakeholders while building a fairer and more resilient society.  

SUNNYVALE, Calif., Dec. 19, 2024 — Plug and Play, a global innovation platform that connects startups, corporations, and investors to foster innovation across industries, has announced a new relationship with The Huntington National Bank, a leading regional bank with a strong commitment to customer-centric financial solutions.

“Our collaboration with Plug and Play positions Huntington Bank as an innovator in the financial services sector, allowing us to attract new fintech partnerships and deliver innovative solutions to our customers,” said Igor Cerc, Chief Enterprise Strategy Officer and Head of Ventures at Huntington Bank. “This relationship aims to accelerate the development of emerging technologies and startup ecosystems that will enhance our brand’s visibility and reputation.”

As part of Plug and Play’s fintech program, Huntington Bank will gain exclusive access to cutting-edge technologies and solutions developed by startups in the fintech sector. This collaboration creates opportunities for the bank to explore new business models, boost operational efficiency, and enhance customer experiences.

“Huntington Bank’s involvement in our fintech program will bring critical industry expertise and operational insight to our startups,” said Tevin Panchal, Senior Corporate Partnerships Manager at Plug and Play. “By collaborating with one of the most trusted financial institutions, our startups will gain unique perspectives that will help drive innovation in the financial services sector.”

Plug and Play’s fintech program brings together industry leaders and startups, fostering collaboration and innovation in the financial sector. Through this collaboration, startups will gain access to valuable expertise, mentorship, and growth opportunities.

To learn more about Plug and Play Fintech, visit https://www.plugandplaytechcenter.com/industries/fintech.

About Plug and Play

Plug and Play is the leading innovation platform, connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we’re present in 60+ locations across 5 continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and have built an in-house VC to drive innovation across multiple industries where we’ve invested in hundreds of successful companies including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi. For more information, visit plugandplaytechcenter.com/

Media Relations Contact
[email protected]

SOURCE Plug and Play

Existing Investors Reinforce Confidence in the Industry-Leading Automated Chargeback Management Provider

NEW YORK, Dec. 19, 2024 — Justt, the leader in AI-based chargeback management, today announced the successful close of its $30 million Series C funding round, led by Zeev Ventures with participation from existing investors Oak HC/FT and F2 Venture Capital. This funding highlights the unwavering confidence of its investors in Justt’s vision, sustained growth, and position as a market leader.

With total funding now at $100 million, Justt is advancing its mission to transform chargeback management through its proprietary AI technology and in-house expertise. The company’s scalable platform, designed for merchants of all sizes, is reshaping how payment disputes are resolved, helping businesses recover lost revenue, reduce complexity, and drive operational efficiency.

Fueling Expansion and Chargeback Innovation

This funding will drive Justt’s strategic expansion into high-growth regions, while advancing its path to profitability by 2027. The company will enhance its proprietary AI-driven platform, which analyzes over 500 data points from multiple sources to create tailored, high-quality arguments for each case. This dynamic system leverages machine learning to optimize dispute win rates and continuously improve outcomes over time.

Justt’s commitment to innovation and excellence has made it the trusted partner of over 200 clients, including some of the biggest names in global e-commerce.

“Justt’s advanced AI and machine learning-driven approach is revolutionizing chargeback management, providing merchants with a scalable, results-driven solution to navigate an increasingly complex payments landscape,” said Oren Zeev, Founding Partner at Zeev Ventures. “Justt’s ability to execute, innovate, and deliver measurable value to merchants worldwide is unmatched. This funding underscores my confidence in their vision, leadership, and long-term strategy as they continue to expand globally and redefine the industry.”

Momentum Built on Growth and Client Success

Since Justt’s Series B in 2021, the company has demonstrated extraordinary growth. Revenue tripled in 2023 and grew more than 2X in 2024. Building on this momentum, Justt is projected to double its revenue year-over-year in both 2025 and 2026.

In 2024, Justt nearly doubled the total chargeback volume it managed compared to the previous year, reflecting the platform’s growing adoption and scalability. Additionally, merchants who switched to Justt—whether from in-house teams or other solutions—recovered nearly twice as much revenue on average, demonstrating the superior results delivered by Justt’s technology.

“Justt’s ability to scale with our clients without compromising quality, and drive continuously improving results through advanced machine learning is what sets us apart in the industry,” said Ofir Tahor, CEO and Co-Founder of Justt. “This funding will drive our global expansion, fuel technological advancements, and further our mission to help merchants resolve payment disputes more efficiently and recover more revenue.”

Global Presence

In 2024, Justt expanded its global footprint by opening offices in New York and London, complementing its established R&D hub in Tel Aviv. The London office addresses growing demand in the UK and EMEA regions, helping merchants navigate increasingly complex and diverse payment ecosystems. Meanwhile, the New York headquarters enhances Justt’s capacity to serve its expanding North American client base, the world’s largest and most dynamic e-commerce market.

These strategic expansions strengthen Justt’s ability to scale and deliver tailored solutions across industries and geographies. They also position the company for continued growth as it prepares to enter high-growth regions such as LATAM and APAC.

About Justt

Founded in 2020, Justt is the world’s first smart chargeback solution that tailors each response and improves over time. Unlike template-based solutions, it uses AI-powered automation and domain expertise to generate dynamic arguments, customizing each response, no matter the volume or complexity. With a machine learning engine that’s continuously running A/B tests in the background, Justt is the only chargeback solution that self-improves over time—helping merchants win more disputes effortlessly. https://justt.ai/

SOURCE Justt

Breakthrough Multi-Orbit Platform to Launch in February 2026

TORRANCE, Calif., Dec. 19, 2024 — K2 Space has signed a contract with the U.S. Space Force to launch its first Mega Class satellite on a mission code-named “Gravitas.” The contract, with a total value of $60 million, includes government funds, Small Business Innovation Research (SBIR) matching funds, and private funds.

The February 2026 mission will demonstrate the ability of the Mega Class satellite bus to proliferate across all orbits, with key demonstrations in Low Earth Orbit (LEO) and Medium Earth Orbit (MEO). K2 Space will be one of the first commercial companies to demonstrate operations for government and commercial customers in MEO, a regime garnering significant interest for proliferation beyond LEO in programs such as “Resilient GPS.”

The groundbreaking mission received support and funding from multiple Department of the Air Force organizations, including the Space Domain Awareness and Combat Power PEO, The Space Development Agency, the Space Warfighting Acquisition Delta, the DoD’s Space Test Program, the Space Force’s National Space Test and Training Complex, and the Air Force Research Lab.

“This mission is fortunate to enjoy support from various parts of the U.S. Space Force; these stakeholders all recognized that the K2 bus is unique in its ability to provide the capabilities needed for their future missions,” said Karan Kunjur, CEO of K2 Space.

The K2 satellite bus represents a step change in satellite capabilities, delivering 10 times more power than any other low-cost bus in its class, and a large 3-meter by 3-meter payload deck. Designed for true multi-orbit functionality, the platform is made to handle the environments of Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geosynchronous Orbit (GEO), and Cislunar space, supporting future Hybrid Space Architectures. With the ability to stack 10 Mega Class satellites per Falcon 9 (or equivalent launch vehicle) to LEO, the K2 bus will make it possible to deploy constellations in a completely new way.

“As we looked at the market, we saw options for Proliferated LEO, but very few options for Proliferated MEO and GEO – the K2 bus is designed to fill this critical gap in our defense architecture,” Kunjur added.

To maintain competitive pricing while delivering superior capabilities, K2 Space manufactures 75% of satellite components in-house, including reaction wheels, flight computers, and solar arrays. The company is also developing the highest power electric propulsion system ever flown – a 20kW system that is four times more powerful than the highest power system flown to date – enabling completely new ways to populate MEO, GEO, and Cislunar constellations with rapid orbit-raise and maneuvering capabilities.

The Gravitas mission will demonstrate these revolutionary capabilities while carrying multiple National Security payloads.

Mission Timeline

• Payload Integration: May 2025
• Qualification Testing: June – September 2025
• Launch: February 2026 (SpaceX Transporter-16)
• Extended LEO Operations
• Orbit Raising to MEO Demonstration
• Extended MEO Operations

With this mission, K2 Space will fully de-risk the platform and validate on-orbit performance in LEO and MEO.

“We’ve had a number of people tell us that delivering the capabilities we’re promising while maintaining the price point of $15M per satellite is impossible – with Gravitas we intend to turn these promises into proof points,” Kunjur added.

About K2 Space

K2 Space is developing a high-powered, low-cost satellite bus platform that delivers the capability of exquisite satellites at the price point and speed of small satellites. Redesigned from the reaction wheel up, the K2 bus multi-manifests ten satellites per Falcon 9, is made to handle the harsh environment of MEO and GEO, and has the highest power electric propulsion system ever flown – making it the platform for Proliferated LEO, Proliferated MEO, and Proliferated GEO. K2 Space was started by a team of former SpaceX engineers and has raised $72M in venture capital to date, with the backing of leading funds like Altimeter Capital and First Round Capital.

About SpaceWERX

As the innovation arm of the U.S. Space Force and a unique division within AFWERX, SpaceWERX inspires and empowers collaboration with innovators to accelerate capabilities and shape our future in space. Headquartered in Los Angeles, SpaceWERX employs 40 military, civilian, and contractor personnel executing an annual $457 million budget. Additionally, SpaceWERX partners with Space Systems Command’s Commercial Space Office (COMSO) as a collaborative program. Since it was aligned under AFRL in August 2021, SpaceWERX has executed 1106 contracts worth more than $897 million to strengthen the U.S. defense industrial base and drive faster technology transition to operational capability. For more information, visit spacewerx.us.

The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of the Department of the Air Force, the Department of Defense, or the U.S. government.

Media Contact: [email protected]

SOURCE K2 Space

Strengthened editorial integrity and global expansion pave the way for being the most credible crypto news source

SINGAPORE, Dec. 19, 2024 — Foresight Ventures is celebrating a year of remarkable success following its $70 million acquisition of The Block, a leading cryptocurrency media outlet. This investment underscores Foresight Ventures’ commitment to advancing credible, unbiased reporting in the rapidly evolving crypto industry.

The acquisition was guided by three key principles:

1. Recognizing the transformative role of media in shaping crypto narratives.
2. Preserving The Block’s neutral and research-driven editorial independence.
3. Aligning the platform’s mission with Foresight Ventures’ strategic vision for global blockchain innovation.

A Year of Significant Achievements
Over the past year, The Block has seen:

• 40% growth in pageviews, a 33% rise in unique users, and a 24% increase in monthly article output.
• Enhanced reputation through data dashboards, frequently cited by industry experts and even in U.S. government filings.
• The launch of advanced tools such as ETF tracking, price pages, and the Global Market Crypto Index (GMCI).
• New content formats, including two podcasts and a funding newsletter, broadening its offerings for diverse audiences.
• The successful inaugural Emergence Conference in Prague, with over 1,100 attendees, 564K social media impressions, and participation from Czech political leaders.

Expanding Horizons
Foresight Ventures has propelled The Block into new markets, particularly in Asia, where its presence now provides critical insights into regional trends and regulatory developments. Innovative tools and expanded content formats have positioned The Block as more than a news platform—it is now a hub for industry insights and analytics.

A Blueprint for Portfolio Success
Foresight Ventures views its approach to The Block as a model for supporting portfolio companies across various industries, from DeFi to consumer tech. “The lessons we’ve learned with The Block are universal—when you prioritize integrity, empower teams, and focus on strategic alignment, the results follow,” said Forest Bai, Co-founder of Foresight Ventures.

Looking Ahead
With the aim of becoming the “The Most Credible News Source in Crypto,” The Block plans to enhance its content, expand regional coverage, and host larger events like the Emergence Conference. “Our goal is not rapid expansion but thoughtful evolution,” Bai explained. “We are building a resource that embodies credibility, inclusivity, and innovation, bridging the crypto world across continents.”

About Foresight Ventures

Foresight Ventures is the first and only crypto VC bridging East and West. With a research-driven approach and offices in the US and Singapore, we are a powerhouse in crypto investment and incubation. Our premier media network includes The Block, Foresight News, BlockTempo, and Coinness. We aggressively invest in the most daring innovations. We are dedicated to partnering with visionary projects and top teams to help them succeed, reshaping the future of digital finance and beyond.

For more information, visit: Website | Twitter | LinkedIn | Discord | Linktree

SOURCE Foresight Ventures

INDIANAPOLIS, Dec. 19, 2024 — Remodel Health, the #1 Individual Coverage Health Reimbursement Arrangement (ICHRA) provider for brokers, today announced it has raised more than $100 million from Oak HC/FT and Hercules Capital, Inc. (NYSE: HTGC)  in growth funding.

Remodel offers an end-to-end, white-labeled tech platform that supports employers and employees with everything they need to launch and access their ICHRA plans, including plan creation and administration, call center support, automated quoting, employee onboarding, HRIS integrations and payments with carriers and access to ancillary products. Starting with the group to individual health insurance shift in 2015, Remodel has become a dominant player in the ICHRA space, bolstered by the acquisition of PeopleKeep in early 2024. Together, the two companies are uniquely positioned to serve small, medium and large employers, with a suite of products across ICHRA and QSEHRA. With this investment from Oak HC/FT and Hercules Capital, Remodel will look to continue its national expansion.

Remodel stands apart from the competitive set with its meaningful scale and a go-to-market motion defined by its white-glove service, deep broker relationships and easy-to-understand approach to marketing and sales. Importantly, as employer health insurance premiums continue to increase, ICHRA provides Remodel’s customers with predictable annual benefits costs, driving stability and an average of 30% savings for the office of the CFO. Over the past 12 months, Remodel has focused more on partnering with insurance brokers and agencies to support its ICHRA expansion across the U.S. As a result, the Remodel business grew 11x YoY in broker-led ICHRA bookings and this will be a key area of growth and expansion for the business moving forward.

“We are on a mission to resource organizations with missions that matter, partnering with employers and their brokers to do so. Remodel Co-Founders Justin Clements and Scott Lingle and I started trailblazing in 2015, and PeopleKeep founder Paul Zane Pilzer identified this shift like pension to 401(k) in the early 2000’s,” said Austin Lehman, CEO of Remodel Health. “We are now seeing it begin to come to fruition. The Oak team have been great dreamers with us and have great connections in the insurance payer space to accelerate growth and help increase access to medical care and resource organizations with missions that matter.”

ICHRA was created in 2020 as a flexible alternative to traditional group health insurance, offering choices around contribution levels to employers and more personalized options around benefits for employees. Similar to a 401K, employers of any size can provide an allowance of pre-tax dollars to their employees. This is used by employees for the purchase of some or all of their healthcare premiums for insurance bought on the ACA exchanges. It offers an exciting cost-savings proposition for employers, particularly small and mid-size ones, who want to offer health insurance to their teams, by allowing them to move their employees to state risk pools to help offset costs, instead of trying to level-fund or self-insure. 

“We have been looking at the ICHRA space for a few years now, waiting for a stand out company with the combination of hyper-scaling potential, an ambitious go-to-market strategy and focused dedication from the leadership team,” said Andrew Adams, Co-Founder and Managing Partner, Oak HC/FT. “We are honored that the Remodel team chose to partner with us and cannot wait to support them in their efforts to build out the ICHRA market for employers and brokers across the U.S.”

Since its launch, the ICHRA market has been steadily increasing and is projected to 10X by 2032. According to the HRA Council, ICHRA adoption increased 29% from 2023 to 2024, with Applicable Large Employers growing at the highest rate – of 84%. Remodel’s approach to distribution and plan partnership best positions them to take advantage of this growth, now and in the future.

About Remodel Health

Remodel Health is the expert guide for employers and brokers navigating the complexities of transitioning to ICHRA. With nearly a decade of experience in the individual health benefits space, our proprietary software and licensed health benefits experts deliver tailored solutions for businesses with 100 to 10,000 employees. Committed to best-in-class customer service, we provide hands-on support throughout the process, ensuring successful implementation and long-term success. Learn more about how we transform health benefits at remodelhealth.com.

About PeopleKeep

PeopleKeep specializes in helping small and midsize businesses offer affordable, flexible health benefits through the ICHRA and qualified small employer HRA (QSEHRA). By focusing on expanding access to coverage for employees often overlooked by traditional employer-sponsored plans due to cost and complexity, PeopleKeep empowers small employers to thrive. With easy-to-use software, automated compliance, and a seamless employee experience, PeopleKeep is committed to simplifying benefits administration and making health coverage more accessible.

About Oak HC/FT

Oak HC/FT is a venture and growth equity firm specializing in investments in fintech and healthcare. Using partnership as a foundation, Oak HC/FT guides companies and founders at every stage, from seed to growth, to create businesses that make a measurable and lasting impact. Founded in 2014, Oak HC/FT has invested in over 85 portfolio companies and has over $5.3 billion in assets under management. Oak HC/FT is headquartered in Stamford, CT, with an office in San Francisco, CA. Follow Oak HC/FT on LinkedIn and X and learn more at https://www.oakhcft.com/.

About Hercules Capital, Inc.

Hercules Capital, Inc. (NYSE: HTGC) is the leading and largest specialty finance company focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies in a broad variety of technology and life sciences industries. Since inception (December 2003), Hercules has committed more than $21 billion to over 660 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing. Companies interested in learning more about financing opportunities should contact [email protected].

SOURCE Remodel Health

TripSuite’s holistic AI-powered solution includes CRM, commission tracking, accounting, and analytics

NEW YORK, Dec. 19, 2024 — TripSuite, the leading software platform for travel agencies, has raised $5 million in seed funding. The round was led by F-Prime Capital, with participation from Bienville Capital Management and Thayer Ventures. The investment will further TripSuite’s mission to enhance the agency and traveler experience through product innovation and deepen its commitment to customer success.

According to research conducted by Phocuswright, travel agencies book over $100 billion in travel annually, and have historically relied on an antiquated and siloed software stack resulting in inefficiencies, unnecessary costs, and lost commissions. Today, 38% of Gen Z and millennials prefer a traditional travel agent over online booking. This preference is significantly higher than Gen X or Baby Boomers, representing a generational shift towards using a travel agent. Agencies are actively seeking technology to help them streamline workflows and meet this rising demand.

“We are enabling our customers to harness powerful insights that propel informed decisions and foster deep, personalized engagements with their end clients, the travelers,” said Jacey Jones, co-founder and CEO of TripSuite. “This investment empowers us to shape the future of travel, ensuring our customers set the standard for innovation in a dynamic industry.”

TripSuite’s intuitive cloud-based platform fully replaces legacy software. Agencies using TripSuite collectively book over $1 billion in travel for their clients annually and are saving 20+ hours a week on back-office activities.

“Agencies and advisors are the backbone of the travel economy, and they deserve technology that matches their ambition,” said Gaurav Tuli, Partner at F-Prime Capital. “TripSuite is delivering the platform agencies need to lead the future of travel, empowering them to innovate, grow, and provide exceptional experiences for their clients.”

TripSuite is setting a new industry standard with its all-in-one, AI-powered platform that consolidates legacy systems into a single, cloud-based platform. Its comprehensive suite of tools includes CRM, commission tracking, accounting, payments and analytics, powering improved efficiency and advanced data insights.

About TripSuite

At TripSuite, we believe our world is enriched when people are exposed to new ideas and cultures through travel. Our cloud-based platform revolutionizes the way travel agencies operate by replacing outdated systems with our innovative, AI-powered solution. We integrate essential tools like CRM, commission tracking, accounting, and analytics into a single platform, empowering agencies to make global exploration accessible and impactful. Trusted by notable agencies including Avenue Two Travel, Brownell Travel, and Cadence Travel, TripSuite is the preferred choice for the world’s most innovative travel experts. For more information, visit TripSuite.com.

About F-Prime Capital

F-Prime Capital is a global venture capital firm investing in healthcare and technology. For the past 50 years, our independent venture capital group has had the privilege of backing great entrepreneurs building groundbreaking companies. In technology, we focus on enterprise software, fintech and frontier tech; while we’re early-stage investors by choice, we’ll back exceptional teams at any stage.

F-Prime Capital has over 4.5 billion dollars under management and a global portfolio of more than 290 companies including Benchling, BenchSci, Flywire, FutureAdvisor, Kensho, Lighthouse, Quovo, Recurly, RiskRecon, Snapdocs, Toast and Vendr.

F-Prime is headquartered in Cambridge, MA, with offices in London, UK and San Francisco, CA. For more information, visit www.fprimecapital.com.

Media Contact:

Jacey Jones
Cofounder/CEO at TripSuite
[email protected]

SOURCE TripSuite

The company engineers novel immunotherapies that empower the immune system to target HERV antigens from the dark genome to treat cancer, metabolic disease, and other aging-related diseases

Funds to fuel pipeline of off-the-shelf assets through several key milestones, including initiating clinical evaluation for its lead program in 2025

COPENHAGEN, Denmark and NEW YORK, Dec. 19, 2024 — HERVolution Therapeutics ApS (‘HERVolution’), a dark genome-focused biotechnology company developing immunotherapies to address aging-related diseases, today announced a $11.7 million Series A financing to advance its lead assets toward clinical evaluation. The funding round was led by Serum Institute of India (SII) with participation from the European Innovation Council (EIC) Fund and other investors. Proceeds will support key activities, including further validating and demonstrating the value of its human endogenous retroviruses (HERV)-targeting approach, cGMP manufacturing in collaboration with SII, initiating Phase 1 studies of its lead asset, investigating indication expansion opportunities, and expanding company infrastructure to support clinical trials.

HERVs are genetic remnants of ancient viral infections that have integrated into the human genome. As they typically lie dormant until aging or disease cause them to reactivate, these targets are often considered part of the “dark genome.” HERVs have been clinically observed to play a key role in causing numerous diseases like cancer, type 2 diabetes, and amyotrophic lateral sclerosis (ALS), and early research signals roles in the aging process. Despite this, successful HERV targeting has remained elusive because the immune system views them as “self” antigens.

HERVolution utilizes a proprietary engineering approach to unlock the therapeutic potential of HERVs. By breaking “self” tolerance, the company can deliver a new class of therapies with a demonstrated ability to induce potent and durable anti-HERV immune responses. These re-designed HERVs can be expressed using adenoviral, virus-like particles, and mRNA vectors, providing opportunities to expand disease targets and dosing regimens. The company’s pipeline of HERV-targeted immunotherapies offers off-the-shelf applications in an array of diseases and the potential to improve outcomes for the world’s increasingly aging population.

“Leveraging decades of immunology and virology expertise, we have broken human immune tolerance to HERVs, enabling therapeutic targeting for the first time,” said J. Robert Coleman, PhD, MBA, Chief Executive Officer of HERVolution. “We are revolutionizing the treatment of complex age-related diseases with proprietary engineering approaches that allow us to make these once-invisible antigens visible to the immune system. With the financial and manufacturing support of our investors, we are well resourced to accelerate our pipeline and expedite bringing breakthrough treatments within reach for patients worldwide.”

Supported by robust preclinical data, the company’s lead candidate, IPT-001, is a dual adenoviral (Ad) vector immune therapy with potential to address a range of diseases as monotherapy or in combination with other agents. IPT-001 utilizes two unique, proprietary Ad-vectors with low pre-existing immunity and excellent antigen expression to enable simultaneous induction of potent HERV-specific T and B cell responses. IPT-001 is currently in development in collaboration with SII, with plans to enter the clinic in 2025. HERVolution is also developing IPT-002, an mRNA vector expressing its proprietary HERV antigen, which may enable repeat dosing in humans and maintenance and amplification of anti-HERV immune responses when administered in a prime-boost treatment strategy with IPT-001.

“This financing represents a significant milestone for the company and signals strong support of the potential of HERVs to tackle pressing challenges in cancer, metabolic disease and aging,” said Peter Holst, MD, PhD, Founder and Chief Scientific Officer of HERVolution.

About HERVolution Therapeutics
HERVolution Therapeutics (formerly InProTher Aps) is a dark genome-focused biotechnology company based in Copenhagen, Denmark, and the U.S., pioneering novel human endogenous retrovirus (HERV)-targeted immunotherapies to address diseases of aging. With its proprietary engineering approaches, HERVolution has rationally redesigned HERV-antigens to yield a new class of highly immunogenic antigens to address cancer, metabolic, and other aging-related diseases. The company’s world-class scientific team has advanced a strong product development pipeline, with lead program, IPT-001, anticipated to enter the clinic in 2025. For more information, please visit: HERVolutionTx.com.

About the Serum Institute of India (SII)
Serum Institute of India Pvt. Ltd, is a global leader in vaccine manufacturing, dedicated to providing affordable vaccines worldwide. Present across 170+ countries, including the US, UK, and Europe, SII holds the distinction of being the world’s largest vaccine manufacturer. SII’s multifunctional production and one-of-the-largest facility in Manjri, Pune, with an annual capacity of 4 billion doses, has saved over 30 million lives over the years.

Founded in 1966, SII’s primary mission is to produce lifesaving immunobiological drugs, with a particular emphasis on affordability and accessibility. Guided by a strong commitment to improving global health, the company has played a pivotal role in reducing the prices of essential vaccines, such as Diphtheria, Tetanus, Pertussis, HIB, BCG, r-Hepatitis B, Measles, Mumps, and Rubella. Notably, they are the manufacturers of ‘Pneumosil,’ the world’s most affordable PCV, and ‘Cervavac’ the first indigenous qHPV vaccine in India. Moreover, SII has been at the forefront of the global fight against COVID-19, delivering over 2 billion doses of the COVID-19 vaccine worldwide.

To further expand its global presence and ensure widespread vaccine availability, SII has established Serum Life Sciences Ltd, a subsidiary in the UK. Through relentless pursuit of innovation, SII continues to champion the cause of affordable vaccines, making a positive impact on the lives of millions worldwide. www.seruminstitute.com

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Deerfield Group
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SOURCE HERVolution Therapeutics