• Funding to support development of first-in-class CLDN1 targeted medicines
• Strong syndicate of international life science investors
• One of the largest ADC-focused private fundraisings globally in 2024

COPENHAGEN, Denmark, Nov. 12, 2024 — Novo Holdings, a leading global life science investor, today announced that it has co-led a $181.4 million Series D financing in Alentis Therapeutics (“Alentis”). Alentis is a clinical-stage biotechnology company, headquartered in Basel, Switzerland, which is developing a pipeline of Claudin-1 (CLDN1) targeted medicines.

This financing will enable Alentis to begin Phase 1/2 trials for two first-in-class ADCs: ALE.P02, which targets advanced or metastatic CLDN1+ squamous solid tumours with a tubulin inhibitor payload, and ALE.P03, which targets CLDN1+ tumours with a distinct topoisomerase I inhibitor payload. FDA clearance is already obtained for ALE.P02, with clinical trials expected to commence in Q1 2025. For ALE.P03, a first-in-human trial in patients with CLDN1+ tumours is subsequently planned to start in 2025.

The oversubscribed Series D round was led by OrbiMed, with Novo Holdings and Jeito Capital acting as co-leads. The financing round included new participation from Frazier Life Sciences, Longitude Capital, Catalio Capital, Piper Heartland Healthcare Capital, and Avego Bioscience Capital, along with continued support from existing backers including notably RA Capital Management, Morningside Venture Investments, BB Pureos and BPI France through its InnoBio 2 fund.

Naveed Siddiqi, Senior Partner, Venture Investments, Novo Holdings and Board Member of Alentis Therapeutics, said: “ADCs have shown their potential to be highly effective anti-cancer treatments. Alentis has an exciting pipeline of first-in-class ADCs. We look forward to seeing the data generated from the first clinical trials of ALE.P02 and ALE.P03.”

Roberto Iacone, Chief Executive Officer of Alentis Therapeutics, added: “This financing is a testament to the transformational potential of CLDN1 ADCs for the treatment of solid tumours. Let me take this opportunity to extend a warm welcome to our new investors. We’re excited to execute our development strategy and deliver clinical data for our programs over the next 12–18 months.”

About Novo Holdings A/S

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.

Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (Novozymes A/S) and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Asia, Planetary Health Investments and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.

As of year-end 2023, Novo Holdings had total assets of EUR 149 billion. www.novoholdings.dk

About Alentis Therapeutics

Alentis Therapeutics, the CLDN1 company, is a clinical-stage biotech developing breakthrough treatments for CLDN1+ tumours. CLDN1 is a previously unexploited target that plays a key role in the pathology of cancer and fibrotic disease. Alentis is the leading company pioneering anti-CLDN1 ADCs and antibodies to modify and reverse the course of select diseases.

Alentis was founded based on ground-breaking research in the laboratory of Prof. Thomas Baumert, MD at the University of Strasbourg and the French National Institute of Health and Medical Research (Inserm). Alentis is headquartered at the pharma-biotech hub in Basel, Switzerland with an R&D subsidiary in Strasbourg, France and clinical operations in the US. Visit www.alentis.ch

SOURCE Novo Holdings

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Researchers behind the innovation discovered a cost-effective way to produce high-quality plant protein based on existing extrusion technology. The new method makes plant proteins locally available with minor investments, while being more profitability for the farmers and food industry and at the same time more affordable for consumers.

ESPOO, Finland, Nov. 12, 2024 — Finnish food technology startup Happy Plant Protein, a spinout from VTT Technical Research Centre of Finland, has raised EUR 1.8 million in pre-seed funding led by Nordic Foodtech VC, with Butterfly Ventures and Business Finland also participating through a grant. The company will use the funding to further develop and license its patented technology.

Happy Plant Protein is commercializing a manufacturing process that can produce high-quality plant protein ingredients with a 70-80% protein content. The method can be used with existing machinery and without needing to overcome time-consuming regulatory hurdles. This in turn enables fast development of new products and fast market entry. Furthermore, it can empower local food manufacturers and brands to produce their plant protein, removing reliance on overseas sources.

Current methods to produce plant protein isolates do not meet the demands of the food industry or consumers due to high pricing of materials and the end-products sold in grocery stores. Simply establishing a protein isolate factory takes 100 million euros. Traditional processes to produce isolates also use huge amounts of energy and water. To produce just one kilogram of protein isolate, existing production lines use 14 MJ of energy. The method developed by Happy Plant Protein reduces energy usage to one seventh of the isolate process and cuts down the investment required. Furthermore, the process is chemical-free, uses almost no water and generates no waste.

“There is a need for cost-efficient, environmentally sustainable methods to produce high-quality protein ingredients. Ensuring food security while making food manufacturing more sustainable, we must find new, more efficient ways to produce food. The approach uses standard extrusion to extract high-quality plant protein from legumes, such as peas, lentils and cereals. The protein ingredients produced in this process can then be incorporated into many plant-based food products,” says Jari Karlsson, CEO and Co-founder of Happy Plant Protein.

Extrusion plants, which are the basis of Happy Plant Protein technology, already exist worldwide with more than 5,000 extruder lines in use in the food industry.

“This offers multiple opportunities to utilize the technology we have developed. By combining existing technology with Happy Plant Protein’s process, the investment and operating costs of producing plant protein can be slashed by up to 90% compared to current technologies,” says Karlsson.

The technology’s potential extends beyond mere cost savings. High-quality plant protein could be produced locally without huge investment, which makes it accessible to small local mills and food manufacturers, as well as big global food brands.

“Instead of relying on processing plants in other countries or overseas, local mills could produce plant protein independently and even increase the value of certain crops like pea or fava bean. This model bypasses the traditional global supply chain, allowing for the use of local crops and reducing the carbon footprint associated with food production and transport. By offering the license and technical know-how for its customers’ existing factories, Happy Plant Protein supports the creation of sustainable food systems and provides economic opportunities for farmers and local food processors,” says Karlsson.

“Consumers have been eager to try new plant-based food products, but the first-generation products did not meet expectations due to their taste, structure, price and health properties. Most of these challenges are caused by the current high-capex chemical isolate production, which is making the actual food products very expensive, highlighting off-flavours and lacking their natural beneficial dietary elements, like fibres. As Happy Plant Protein is licensing its technology globally, more natural, healthier and affordable food from local ingredients will become available to consumers,” says Mika Kukkurainen from Nordic Foodtech VC.

Happy Plant Protein aims to license the technology to food manufacturers worldwide.

“Happy Plant Protein is the newest one in the line-up of VTT’s spin-offs contributing to a more sustainable and resilient food system. The technology and the new company stem from VTT’s long-term research excellence in plant protein ingredients, underlining the importance of persistent RDI investments. Our goal at VTT is to create global and national impact with our research as well as to create new deep-tech startups,” says Tiina Nakari-Setälä, Vice President and leader of VTT’s biotechnology and food research area.

MEDIAMATERIAL
Photos available for the use of the media in VTT’s web site

Further information:

Happy Plant Protein
Jari Karlsson, CEO and Co-founder, Happy Plant Protein
+358 40 196 1744, j[email protected]

VTT Technical Research Centre of Finland
Tiina Nakari-Setälä, Vice President, Industrial Biotechnology and Food Research
+348 8215794, [email protected]

About Happy Plant Protein Oy

Happy Plant Protein Oy, a Finnish food technology company, holds a globally pending patent for the production of high-quality plant protein using existing extrusion technology, changing the way protein is produced worldwide. Our innovation creates tailor-made plant proteins for a better fit in food applications. We offer a license model for producing plant proteins through economic and ecological extrusion. happyplantprotein.com

VTT Technical Research Centre of Finland Ltd

VTT is a visionary research, development and innovation partner. We drive sustainable growth and tackle the biggest global challenges of our time and turn them into growth opportunities. We go beyond the obvious to help society and companies to grow through technological innovations. We have over 80 years of experience of top-level research and science-based results. VTT is at the sweet spot where innovation and business come together.

VTT – beyond the obvious

www.vttresearch.com, LinkedIn, X @VTTFinland, Facebook and Instagram

VTT LaunchPad

The project has been part of VTT LaunchPad, a science-based spin-off incubator, where VTT researchers and technology are brought together with the best business minds and investors out there to renew industries. VTT LaunchPad supports incubator teams to develop VTT-owned IPR into fundable spin-off companies.

Further information on VTT:
Paula Bergqvist, Senior Specialist, Communications
+358 20 722 5161, [email protected]
www.vttresearch.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/vtt-info/r/happy-plant-protein-enables-locally-produced-healthy-and-affordable-plant-based-food-with-new-patent,c4064747

SOURCE VTT Info

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LONDON, Nov. 12, 2024 — H.I.G. Bayside Capital Europe (“Bayside”), the European special situations and capital solutions affiliate of H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $65 billion of capital under management, is pleased to announce its financing of Oliver James (“Oliver James” or the “Company”), the rapidly growing international recruitment and talent solutions specialist. Bayside provided a £31m facility to refinance existing debt and finance the further growth of the Company.

Oliver James was founded in 2002 in Manchester, England by Oliver Castle and James Rogers, and is now a multi-award-winning recruitment and talent solutions specialist with 14 offices globally, focusing on specialist verticals. Since its inception, Oliver James has experienced significant organic growth driven by its sophisticated, tech-enabled operating model, knowledge of specialist markets, and focus on staff development and retention.

Bayside provided a bespoke, flexible financing solution to Oliver James that allows the Company to continue to invest in its business and drive ongoing development. The financing solution also includes undrawn facilities to support future growth.

Graeme Edwards, Chief Financial Officer at Oliver James, said: “We are delighted to partner with Bayside for the next phase of our growth and investment. The Bayside team excelled with their knowledge and flexibility and was able to tailor the financing to our needs.”

Florian Kawohl, Managing Director at Bayside, said: “Oliver Castle’s and James Rogers’ impressive approach, strategy, and execution have resulted in an outstanding recognition of their business in the marketplace. Our Capital Solutions loan allows us to refinance their existing debt and provide flexible funds to support the business in its next phase. We are looking forward to working with the team at Oliver James and supporting the continued growth of the business.”

About Oliver James

Oliver James specialises in recruitment and talent solutions services, operating out of 14 offices across the UK, Europe, Asia-Pacific, and the U.S., with a global turnover of £351 million in 2023. To discover more, visit oliverjames.com.

About Bayside Capital

Bayside Capital is the special situations affiliate of H.I.G. Capital. Focused on middle market companies, Bayside invests across several segments of the primary and secondary debt capital markets with an emphasis on long term returns. With eight offices throughout the U.S. and Europe and over 500 investment professionals to draw upon, Bayside has the experience, resources, and flexibility required to generate superior risk-adjusted returns. For more information, please refer to the Bayside website at bayside.com.

About H.I.G. Capital

H.I.G. is a leading global alternative investment firm with $65 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/value-added approach:

• H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
• H.I.G.’s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
• H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
• H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.

*Based on total capital raised by H.I.G. Capital and its affiliates.

Contact:

Duncan Priston
Co-Head of Bayside Europe
[email protected]

Andrew Scotland
Co-Head of Bayside Europe
[email protected]

SOURCE H.I.G. Capital

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LOS ANGELES, Nov. 12, 2024 — Eaze Inc. has announced $10 million in Series B funding following the acquisition of select assets from Eaze Technologies Inc., a pioneer in cannabis delivery with over $1 billion in completed deliveries across its 10-year history. The investment will fund the reopening of 70 Eaze and Green Dragon locations across California, Colorado, Florida, and Michigan, including 57 retail stores, 11 delivery hubs, and two production facilities.

Eaze Inc. will be led by Cory Azzalino, who emphasized “We are excited to build on the accomplishments of the first 10 years of Eaze Technologies Inc., and expanding our retail, delivery, and private label brands into new markets. We deeply value the contributions of all those who were part of Eaze Technologies Inc.’s journey and remain committed to creating a company that continues to push forward with innovation and care. As we move ahead with this new chapter, Eaze Inc. is focused on sustainable growth and delivering for our customers and communities. The $10 million investment will allow us to strengthen our supply chain, enhance the customer experience, and set the foundation for long-term success.”

Key initiatives with the Series B funding include:

• Recruiting for more than 1,000 operational positions across four states
• Expanding Florida production capacity from 32,000 square feet to 64,000 square feet of flowering canopy
• Opening new dispensaries and expanding delivery capacity across Florida, California, Colorado and Michigan
• Launching refreshed brand marketing campaigns highlighting Eaze’s newly launched scheduled delivery capabilities, and new product innovation at all Green Dragon locations
• Building new brand partnerships across all territories and developing new market-specific product offerings

Eaze Inc. is committed to a seamless operational transition that will minimize any potential disruptions for Eaze and Green Dragon’s loyal customers, patients, and vendors. With this new funding, Eaze will begin hiring to support expanded operations and ensure continued growth across all markets.

Qualified candidates can apply at eaze.com/careers.

SOURCE Eaze Inc.

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TULSA, Okla., Nov. 11, 2024 — FortySix Venture Capital LLC (46VC), a venture capital management firm with offices in Tulsa, OK and Bentonville, AR, is proud to announce the launch of Folds Ventures Fund I. The fund is managed by a team of experienced investors at 46VC and will target early-stage tech founders from the veteran and first responder communities. The Fund was developed in association with Folds of Honor Foundation, a charitable organization that provides life-changing educational scholarships to the spouses and children of fallen or disabled US service members and first responders. 

Folds Ventures will back founders with funding and help them harness the power of a large network of patriots. “For early-stage tech investors, access to leaders with elite capabilities, training and experience is paramount to success”, said Tracy Poole, Founder of 46VC, the fund’s manager. “The time is right to back founders with the skills needed to build enduring companies that will advance US capabilities across critical sectors.”

As the fund manager, 46VC has developed a low-friction way for investors to support the veteran and first responder communities that will be open to all accredited investors. “Folds of Honor is proud to team up with Folds Ventures,” said Folds of Honor CEO and Founder, Lieutenant Colonel Dan Rooney. “We believe the partnership will be a force multiplier to the mission and awareness of Folds of Honor and increase scholarship funding to the families of American military and first responder heroes. Together we will meet sacrifice with hope.”

The fund utilizes an innovative structure that shares a substantial portion of the manager’s carried interest returns with Folds of Honor in the form of a donation with each fund vintage, creating an evergreen resource for providing the potential for multitudes of scholarships. The structure allows investors to have the ability to 1) achieve investment returns in a very sought-after asset class, 2) back elite founders with extraordinary resilience, and 3) create real impact by helping to ensure Folds of Honor’s mission to provide scholarships continues to thrive.

For more information on the Folds Venturers Fund I and how to get involved, please contact Garrett McCain at [email protected].

About Folds of Honor

Folds of Honor is a 501(c) (3) nonprofit organization that provides educational scholarships to the spouses and children of US military service members and first responders who have fallen or been disabled while serving our country and communities. Our educational scholarships support private school tuition or tutoring in grades K-12, tuition for college, technical or trade school and post-graduate work, including a master’s degree, doctorate, or professional program. Funds for a second bachelor’s degree or trade/technical program certification are also available. Since its inception in 2007, Folds of Honor has awarded nearly 62,000 scholarships totaling about $290 million in all 50 states. Among the students served, 45 percent are minorities. A total of 91 percent of every dollar raised directly funds scholarships. It is rated a four-star charity by Charity Navigator and Platinum on Candid. It was founded by Lt Col Dan Rooney, the only-ever F-16 fighter pilot (with three combat tours in Iraq) and PGA Professional. He is currently stationed at Headquarters Air Force Recruiting Service at Joint Base San Antonio-Randolph, Texas. For more information or to donate in support of a Folds of Honor scholarship visit foldsofhonor.org.

About 46VC

46VC is a venture capital fund manager with offices in Bentonville, Arkansas and Tulsa, Oklahoma. 46VC has a strategy to leverage large networks and invest in startups and technologies in the heartland region where it has unique access to deal flow and domain expertise. For media inquiries, please contact Kate Lynn at 817-851-8036 or [email protected].

This material does not constitute an offer or solicitation with respect to the purchase or sale of any security in any jurisdiction. Offering by definitive documentation only to accredited investors. 46VC does not provide accounting, tax or legal advice to its clients or investors, and they are strongly urged to consult with their own advisors regarding any potential strategy or investment. For more information on 46VC please visit the firm’s website at www.46.capital.

Media Contact:
Kate Lynn
[email protected]

SOURCE FortySix Venture Capital LLC

YOKNE’AM ILLIT, Israel, Nov. 11, 2024 — Phytolon, an Israeli biotech / food tech startup that produces natural food colors using precision fermentation, recently secured an investment from Rich Products Ventures (RPV), the corporate venture capital fund of global, family-owned food company Rich Products (Rich’s), to help drive commercialization of its innovative, sustainable and clean-label solution for natural food colorings. As part of the investment, Rich’s will explore Phytolon’s proprietary color offerings in several of its products, in a mutually non-exclusive manner.

RPV’s strategic investment has been paired with additional support from existing Phytolon shareholders, including EIT-Food, Arkin Holdings and Yossi Ackerman. The funds will be used to further commercialize and scale Phytolon’s natural, precision fermented food colorants, which are expected to pass key regulatory approvals soon.

Phytolon’s co-founder and CTO, Tal Zeltzer, commented on the transaction: “We are excited to be empowered by Rich Products Ventures as partners in promoting our innovative products in the food industry. Rich’s investment and commercial partnership are key to establishing a strong footprint in bakery, desserts, and related segments, where solutions for natural colors are in high demand.”

Produced utilizing the fermentation of Phytolon’s proprietary yeast strains, Phytolon’s natural colors offer a cost-efficient and sustainable substitution to synthetic food dyes without compromising performance. Beginning with two base colors derived from fermentation, Phytolon’s portfolio provides a full range of color shades, including purple, pink, red, orange and yellow, offering both a reliable and steady supply chain (compared to agriculture-based colors), as well as a simplified process to help food brands achieve vibrant, precise product colors.

Rich’s and RPV are laser-focused on driving innovation to create distinctive value for customers. As part of this strategic investment, Rich’s will explore Phytolon’s clean-label and eco-friendly solutions in several of its products to understand how the natural colors can potentially be applied to Rich’s portfolio of icings, toppings, baked goods and more.

“Innovation is at the core of both Rich’s and RPV,” said Dinsh Guzdar, managing director, Rich Products Ventures. “At RPV, we’re investing in venture and growth stage companies that are shaping the future of food through technology and innovation. Sustainable food production is a key area of focus for us, so we’re excited about the cutting-edge work Phytolon is leading and the opportunity that presents Rich’s to create greater value for our customers.”

Meet Phytolon 
Phytolon is focused on offering natural food colors that comply with the consumers demand for clean label, healthy, and sustainable food systems. Leveraging our novel fermentation-based production technology, we are committed to providing cost-efficient and sustainable solutions, while guaranteeing robust supply to customers around the world. Phytolon’s portfolio currently includes multiple shades, covering the purple, pink, red, orange, and yellow spectrum, targeting multiple food categories in the food and beverage market.

To learn more, visit Phytolon.com and follow us on our LinkedIn. 

Meet Rich’s 
Rich’s, also known as Rich Products Corporation, is a family-owned food company dedicated to inspiring possibilities. From cakes and icings to pizza, appetizers and specialty toppings, our products are used in homes, restaurants and bakeries around the world. Beyond great food, our customers also gain insights to help them stay competitive, no matter their size. Our portfolio includes creative solutions geared at helping food industry professionals compete in foodservice, retail, in-store bakery, deli, and prepared foods among others. Working in 100 locations globally, with annual sales exceeding $5.8 billion, Rich’s is a global leader with a focus on everything that family makes possible. Rich’s®—Infinite Possibilities. One Family.

Learn more at Richs.com or join the conversation on Facebook, Instagram, LinkedIn and Twitter.

Photo – https://mma.prnewswire.com/media/2553959/Phytolon_fermentation_process.jpg
Photo – https://mma.prnewswire.com/media/2553960/Phytolon_Food.jpg
Logo – https://mma.prnewswire.com/media/2553961/Phytolon_logo.jpg

MEDIA CONTACT:

Shir Hait 
[email protected] 

SOURCE Phytolon

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• Jillian Gillespie appointed as CFO – joining from MongoDB
• Baroness Martha Lane Fox joins the board of directors

NEW YORK, Nov. 11, 2024 — Multiverse, the end-to-end learning platform that helps businesses close critical skill gaps, today announced that it has appointed Jillian Gillespie as Chief Financial Officer.

Ms. Gillespie joins from MongoDB, the developer data platform with a market capitalization of c. $20 billion, where she was Senior Vice President of Finance and Operations. She led the company through major milestones and international expansion over ten years, from its first unicorn-stage funding round, through to IPO in 2017, followed by success as a public company.

The company also announced that Baroness Martha Lane Fox, the serial entrepreneur and early pioneer of Britain’s technology sector, has joined its board of directors. Baroness Lane Fox has more than three decades of experience – guiding multiple companies to public markets. She now serves as President of the British Chambers of Commerce and co-chairs a new UK government panel tasked with driving improved adoption of technology in the public sector. She currently serves on the board at Chanel and previously served on Twitter’s board (now X) for almost 7 years until 2022.

Multiverse is the first company to offer businesses an end-to-end platform to reskill their workforce in the age of AI, allowing businesses to diagnose, prescribe, and then treat business-critical skill gaps in one place.

First, the Multiverse platform uses AI-powered diagnostics to determine skilling needs according to business goals. It then develops personalized learning pathways curated for each individual employee based on their role and existing skill set, and delivers that training through human-led and AI-supported learning.

The appointments come as Multiverse’s research shows 64% of businesses lack confidence in deploying AI and associated technologies – a skills gap that has become more acute with rapid technological advancement. They also support Multiverse’s continued expansion in the United States, where 87% of business leaders believe they have skill gaps. The company already partners with more than 1,500 companies across the US and UK..

Euan Blair, founder and CEO of Multiverse: “Multiverse has the capacity to be a generational British tech success story – ensuring people globally can embrace tech with confidence by embedding learning in tech, data, and AI into their daily work. In Martha and Jillian, we’re adding two exceptional leaders who understand both the scale of the global skills crisis and how to build and scale transformative solutions. As we expand our footprint with new products and partnerships, their experience in scaling high-growth tech companies will help us seize this moment and reshape how organizations develop talent in the AI era.”

Baroness Martha Lane Fox: “The promised gains from technology will never be delivered unless people have the skills to take advantage of them. This is becoming urgent in the boardrooms of every organisation, and Multiverse is perfectly positioned with its model of continuous, applied learning.”

Jillian Gillespie, Chief Financial Officer of Multiverse: “I am thrilled to join Multiverse at such a pivotal moment in its journey. What really attracted me is the opportunity to collaborate with such a talented, genuine, and ambitious team in a fast-growing, dynamic, and rewarding business. I firmly believe that applied, on-the-job learning represents the future of workforce development and I look forward to applying my experience to an exciting new challenge.”

For more information, please visit https://www.multiverse.io/en-US.

About Multiverse

Multiverse is a tech company that identifies, closes and prevents skills gaps, through personalized, on-the-job learning. It partners with over 1,500 companies in the US & UK to deliver skills that enable business transformation, and economic opportunity for individuals. Its focus areas include AI, tech and data skills, for people of any age and any career stage. Multiverse learners have driven $2bn + ROI for their employers, using the skills they’ve learnt to improve productivity and measurable performance. In June 2022, it announced a $220 million Series D funding round co-led by StepStone Group, Lightspeed Venture Partners and General Catalyst. With a post-money valuation of $1.7 billion, the round makes the company the UK’s first EdTech unicorn.

SOURCE Multiverse

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The funding round is announced alongside a partnership with ZAN to jointly explore hardware acceleration, infrastructure technologies, and more

ROAD TOWN, British Virgin Islands, Nov. 8, 2024 — Pharos , a full-stack, parallel layer-1 blockchain network, today announced the completion of an $8 million seed round investment co-led by Lightspeed Faction (“Faction”) and Hack VC, with additional participation from strategic anchor investor SNZ Capital and other investors including Reforge, Dispersion Capital, Hash Global, Generative Ventures, Legend Star, MH Ventures, Zion, and Chorus One Ventures.

The company plans to utilize the funding to accelerate the development of the Pharos protocol and drive the growth of the ecosystem and community. The company will maintain its vision of driving mass adoption through efficient blockchain technology implementation into the verticals of decentralized finance, real world assets, and more.

In tandem with the funding round, Pharos has announced a strategic partnership with ZAN, the Web3 brand of Ant Digital Technologies, to jointly explore and develop web3 infrastructure, focusing on node service, security and hardware acceleration.

“We are incredibly grateful for the trust and support from our investors,” said Alex Zhang, CEO of Pharos. “This is just the beginning of an exciting journey. At Pharos, we are driven by our belief to bridge existing FinTech services with trustless Web3 innovations to onboard billions of new users and real-world assets into the Web3 ecosystem. This seed round propels us closer to realizing that vision.”

With hyper-parallelism across consensus, execution, storage, and heterogeneous hardware, Pharos delivers unparalleled scalability and performance, enabling a decentralized real-time payment network for global access. Pharos envisions a real-time payment network that not only delivers unparalleled scalability and performance but also connects existing FinTech services with trustless Web3 innovations to onboard billions of new users and real-world assets into the Web3 ecosystem.

Investor Quotes:

Clara Boh, Deal Partner at Faction : “Pharos’ unique approach to parallelism and high-performance architecture positions it as a game-changer for bringing real-world assets and decentralized finance together. We are thrilled to be a part of Pharos’ seed funding round as it advances its vision of a truly interconnected, scalable blockchain network.”

Alex Pack, Managing Partner at Hack VC : For blockchains to go mainstream and get true mass adoption they must become orders-of-magnitude more scalable and performant. The Pharos team has been working on this problem for years, at the highest level, and we’re excited to support them now in solving these problems with the Pharos protocol.

About Pharos:

Pharos is a full-stack parallel blockchain, pushing the boundaries of decentralized innovation. With hyper-parallelism across consensus, execution, storage, and heterogeneous hardware, Pharos delivers unparalleled scalability and performance, enabling a decentralized real-time payment network for global access.

Pharos is committed to bridging existing FinTech services with trustless Web3 innovations, to onboard billions of new users and real-world assets into the Web3 ecosystem.

About Lightspeed Faction:

Lightspeed Faction (“Faction”) is the leading blockchain-native venture capital firm that merges Silicon Valley VC experience with deep blockchain expertise. Faction typically invests in early-stage startups across the blockchain ecosystem that are in their Seed or Series A funding rounds. Faction is firmly committed to the growth of the crypto space, investing in projects with the potential to meaningfully contribute to and advance the industry and society at large.

For more information, please visit: https://www.faction.vc 

About Faction’s Relationship with Lightspeed

Faction Ventures, LLC (“Faction”) and Lightspeed Management Company, L.L.C. (“Lightspeed”) are separate businesses that operate independently of each other. Faction is a registered investment adviser under the United States Investment Advisers Act of 1940, as amended. Faction advises its own fund(s) and does not advise any Lightspeed clients, and Lightspeed does not advise Faction or any of its clients.

About Hack VC:

Hack VC is a Web3 venture capital firm that partners on- and off-chain with hackers building the future of the Internet at the earliest stages. The firm invests in infrastructure, such as AI, blockchain protocols, and financial technology, with investments across 100+ companies and protocols. Hack VC runs hack.labs(), an in-house tech platform for institutional grade network participation, through which its team of blockchain engineers and quant researchers provide liquidity, stake, make open-source contributions, and more. In addition, Hack VC created and hosts hack.summit(), a global developer community and one of the world’s largest blockchain programmer events, with 130K+ attendees from 150+ countries across events to date.

About SNZ Capital:

SNZ is a crypto-native, research-driven investment company based in HK, Singapore and US, with 200+ portfolios. Active since 2014, beyond investment, the SNZ team has been dedicated to community building and incubation, notably as one of the earliest backers of Ethereum in Asia, and the strategic partner for western projects to expand in Asia. SNZ is an engaging and proactive investor that grows with portfolios. In addition, SNZ has deep industry know-how and great network with Web 2.0 and trafi ecosystems, committed to connecting different stakeholders to empower the development of Web 3.0.

About ZAN:

ZAN is the technology brand of Ant Digital Technologies for Web3 products and services. Powered by AntChain Open Labs’ TrustBase open-source technical stack, ZAN provides rich and reliable services for business innovations and a development platform for Web3 endeavors. The ZAN product family includes ZAN eKYC, ZAN KYT, ZAN Smart Contract Review, ZAN Node Service, with more products being on the way.

Media Contact: [email protected]

SOURCE Pharos

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NEW YORK, Nov. 8, 2024 — EpiBone, Inc., a leading regenerative medicine company at the forefront of skeletal repair, announces the successful close of a convertible note funding round led by Kendall Capital Partners, with participation from LifeSpan Vision Ventures, EMV Capital plc, and others. This additional funding will propel EpiBone’s ongoing pipeline development, furthering its mission to revolutionize skeletal reconstruction on a global scale.

“We are thrilled to have the continued support of Kendall Capital Partners, along with LifeSpan Vision Ventures, EMV Capital plc, and other strategic investors, who share our vision of transforming skeletal repair through groundbreaking science,” said Dr. Nina Tandon CEO and Co-Founder of EpiBone, Inc. “This funding not only affirms the progress we’ve made but also empowers us to bring our innovative regenerative therapies to more patients in need as we explore Thailand and the United Arab Emirates, both emerging global centers of medical tourism.”

David Zhu, Founding Partner of Kendall Capital Partners, added, “We are proud to lead a syndicate of institutional and strategic investors and family offices in this funding round to support EpiBone’s mission to revolutionize skeletal repair. Thinking globally from the outset is essential for cutting-edge technologies like EpiBone’s, as it accelerates commercialization and amplifies the scale of impact. EpiBone’s innovative approach is poised to transform the landscape of regenerative medicine, and we are thrilled to be part of their journey.”

Dr. Ilian Iliev, CEO of EMV Capital plc commented, “EpiBone is revolutionizing healthcare with their cutting-edge approach to personalized medicine, offering a solution that not only has the potential to improve patients’ lives but also redefine how we treat complex diseases. They are developing technology that will shape the future of healthcare and we are proud to continue to support this visionary team as they enter the exciting next chapter of growth and innovation.”

EpiBone’s technologies represent advanced treatment modalities that leverage autologous and allogeneic stem cells, 3D bioprinting, and bioreactor technology to provide personalized, effective solutions for bone and osteochondral reconstruction. EpiBone stands on the frontier of regenerative medicine and seeks to disrupt the standard in musculoskeletal treatments.

About EpiBone
EpiBone, Inc. is a privately-held regenerative medicine company focused on skeletal reconstruction. Sitting at the intersection of biology and engineering, the company harnesses the power of cells to create living solutions that have the potential to integrate seamlessly into patients’ bodies. EpiBone is currently developing a pipeline of bone, cartilage, and other skeletal tissue products. For more information, visit epibone.com.

Disclaimer
This communication contains forward-looking statements, which can generally be identified by words such as “plans,” “change,” “will,” “following”, “strengthening,” “developing,” the negative of these words and similar words and expressions, which are based on EpiBone’s current expectations, assumptions, estimates and projections about its business, technology, product development and industry. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially and include, without limitation, EpiBone’s ability to (1) adequately protect or enforce its intellectual property rights, (2) develop and commercialize new products and technologies on a timely basis (or at all), (3) risks associated with acquisitions and strategic investments and (4) attract and retain qualified personnel. Accordingly, you are cautioned not to place undue reliance on such forward-looking statements. Additionally, this communication does not constitute an offer to sell or a solicitation of an offer to buy securities.

SOURCE EpiBone, Inc.

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