U.S. Department of Energy’s Grid Resilience and Innovation Partnerships (GRIP) Program Supports GridUnity’s Efforts to Modernize the U.S. Transmission System

BOSTON, Oct. 18, 2024 — GridUnity, a leader in grid modernization solutions, is proud to announce that its Digital Integration for Grid Interconnection Tools, Analysis, and Logic (DIGITAL) project has been selected for the second round of funding through the U.S. Department of Energy’s Grid Resilience and Innovation Partnerships (GRIP) Program. This $10.5 billion federal initiative, created under the Bipartisan Infrastructure Law, aims to strengthen the nation’s power grid and improve resilience to extreme weather events. The DIGITAL project has been awarded $49.5 million in federal funding, with an equal recipient cost share commitment, for a total project investment of $99 million.

The DIGITAL project will modernize and streamline the grid interconnection process, significantly accelerating the approval and commissioning of new generation projects. By leveraging cloud-based technologies and innovative communication and process improvements, GridUnity’s solution will reduce the time that renewable energy projects spend in interconnection queues by more than a year, unlocking faster access to clean energy across the United States.

“As extreme weather events continue to stress electric systems across the country, the Biden-Harris Administration is using every tool in the toolbox to make sure America’s power grid can provide reliable, affordable power,” said Maria Robinson, Director, Grid Deployment Office, U.S. Department of Energy. “GridUnity’s project will notably accelerate the interconnection process, while also lowering costs and increasing energy reliability for customers.”  

“Congratulations to GridUnity on this award,” said Massachusetts Governor Maura Healey, “In the face of recent hurricanes and other disasters made worse by our changing climate, Massachusetts’ thriving climatetech business sector is crucial for not only delivering jobs and economic benefits but also helping to accelerate our transition to a future clean power grid. GridUnity’s DIGITAL innovative project promises to speed up the integration of new wind, solar, and battery resources from California to Massachusetts, enabling the delivery of reliable, safe, and clean electricity to our communities.”

“Interconnection delays are one of the most significant roadblocks to getting more renewable energy resources onto the grid. Projects take, on average, 30 months to make it through the queue right now. We will compress that timeframe to 18 months initially, with the goal of a 12-month process through further efficiencies over time,” said GridUnity CEO Brian Fitzsimons. “Getting renewable resources onto the grid more quickly will vastly improve our ability to provide clean, reliable power to all Americans.”

 **Key Features of the DIGITAL Project:**

• **Cloud-Based Centralized Software**: DIGITAL will replace fragmented communication and outdated technologies used by regional transmission organizations (RTOs) and transmission owners with a centralized platform, improving communication, collaboration, and adaptability.
• **DIGITAL Grid Analytics Learning Engine (GALE)**: The project introduces GALE, an AI-powered tool that enhances cost estimation accuracy, providing transparent and timely analyses to support faster project approvals.
• **Nationwide Impact**: By the fifth year, DIGITAL is expected to directly affect 70% of the U.S. population—around 210 million people—by optimizing transmission grid efficiency, enhancing energy reliability, and reducing consumer energy costs.
• **Job Creation**: Over the five-year term, DIGITAL will create 62 high-tech jobs and 6-8 community engagement roles, while expediting the creation of over 51,000 skilled worker positions in the clean energy sector.
• **Inclusive Development**: The project emphasizes community engagement, ensuring that the benefits of clean energy are accessible and equitable for all. Feedback from local communities will be integrated into infrastructure development to support a transparent and inclusive process.

**A Collaborative Effort**

The DIGITAL project will be executed in collaboration with multiple stakeholders and the software platform’s data will help inform the International Brotherhood of Electrical Workers (IBEW) in their efforts to develop and upgrade our transmission and distribution grids across North America.

As part of the GRIP Program’s Smart Grid Grants, this initiative will help modernize the transmission grid, improve resilience against climate threats, and ensure affordable and reliable electricity is available for American communities when and where they need it.

The mission of the Grid Deployment Office (GDO) is to catalyze the development of new and upgraded electric infrastructure across the country by maintaining and investing in critical generation facilities; developing and upgrading high-capacity electric transmission lines nationwide; and deploying transmission and distribution technologies. Learn more at energy.gov/gdo.

About GridUnity
GridUnity® is a pioneer in interconnection life cycle management and advanced energy analytics solutions for transmission and distribution. The company is leading the global shift toward highly reliable and responsive renewable and distributed energy resources. GridUnity is the only solution that fulfills FERC Order 2023 with a complete end-to-end digital interconnection process enabling Independent system operators, transmission providers, transmission owners and generation developers to collaborate in real-time throughout the projects’ application review, study and construction processes which fundamentally changes how the parties can address the country’s energy growth needs. Clients include North American investor-owned utilities and independent system operators serving 37 U.S. states and 50% of the U.S. population. For more information, please visit gridunity.com and for the latest news, follow GridUnity on LinkedIn.

**Press Contact:**
Helen Fairman
VP of Marketing, GridUnity
Phone: 617-910-6585
Email: [email protected]

SOURCE GridUnity

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

• Phase 1 trial of LM-299, an anti-PD-1/VEGF BsAb, initiated in China for advanced solid tumors following promising preclinical results demonstrating strong inhibition of tumor growth and well-tolerated safety profile
• IND for LM-299 in the US expected to be submitted in the second half of 2024
• Proceeds from the completed Series C1 financing will be primarily used to advance the clinical development of the Company’s pipeline, including lead candidates LM-299 (anti-PD-1/VEGF BsAb), LM-302 (anti-CLDN 18.2 ADC) and LM-108 (anti-CCR8 mAb)
• Financing led by Sino Biopharmaceuticals, with participation of new and current investors

SHANGHAI, Oct. 18, 2024 — LaNova Medicines Limited (“LaNova” or “The Company”), a privately-held clinical-stage innovation-driven biotech specializing in ADCs and immuno-oncology, announced the initiation of its Phase 1 clinical trial of LM-299, an anti-PD-1/VEGF BsAb, in China for advanced solid tumors and the successful completion of its $42 million Series C1 financing.

Founded in September 2019, LaNova’s R&D engine is based on three proprietary platforms adept at tackling challenging targets and versatile modality development, which has so far enabled the in-house development of more than ten innovative programs, including monoclonal antibodies, ADCs and bispecific antibodies.

Following promising preclinical results demonstrating LM-299’s strong inhibition of tumor growth in hPBMCs-humanized mice and well tolerated safety profile in NHP GLP tox study, LaNova has initiated its first-in-human clinical trial in China for advanced solid tumors. LaNova is planning to initiate an additional Phase 1 clinical trial in the US and expects to submit an IND in the second half of 2024.

The completed Series C1 financing was led by Sino Biopharmaceuticals and included participation from new investors Pudong Innovation Investment and Zhangjiang Haoheng, and existing investors, Qiming Venture Partners and Shanghai Healthcare Capital. Zhong Lun Law Firm acted as the legal advisor for this round of financing.

LaNova has recently initiated its Series C2 financing round.

Proceeds will be primarily used to advance the clinical development of the Company’s pipeline, including lead candidates:

• LM-302 (anti-CLDN 18.2 ADC): ongoing Phase III registrational clinical trial in China for gastric cancers, making it one of the top three candidates globally in terms of development progress for this target; US Phase II trial expected to start in H2 2025
• LM-108 (anti-CCR8 mAb): ongoing Phase II clinical trials in China for multiple solid tumors, making it one of the top three most advanced projects worldwide targeting CCR8; US Phase II trial expected to start in H2 2024
• LM-299 (anti-PD-1/VEGF BsAb): Phase I clinical trial in China is currently enrolling patients for advanced solid tumors

Dr. Crystal Qin, LaNova’s founder, chairwoman and CEO, stated: “Since its establishment, LaNova has been dedicated to original innovation, with a focus on the tumor microenvironment and the development of tumor-specific targeted ADCs and immune-modulating biologics. We have established a robust pipeline of differentiated innovative drugs, with independent intellectual property rights and profiles that are competitive on a global scale. We are thrilled to have initiated our Phase 1 trial for LM-299 and completed our series C1 financing round. We are especially grateful for the continued support and confidence of our new and long-standing investors during this challenging period for pharmaceutical investments. Proceeds from this financing will allow us to expedite the development of our late-stage clinical programs, LM-302 and LM-108, moving us closer to market approval. We will also accelerate the clinical development of LM-299, which is currently in Phase 1 clinical trials with best-in-class potential. We look forward to strengthening our partnerships across the industry and enhancing our self-sustainability through business development collaborations. Together, we aspire to bring China’s innovative drugs to a global stage, ultimately providing high-quality treatment solutions to more patients and promoting healthier lives worldwide.”

About LaNova Medicines Ltd.

Founded in September 2019, LaNova Medicines Ltd. is a privately held biotech company headquartered in Shanghai. With the mission of “Care for life, Dedicate to innovation”, the Company focuses on discovering novel biologic therapies in the fields of ADC and Immuno-Oncology, with a commitment to developing best-in-class or first-in-class therapies that address significant unmet medical needs.

LaNova’s robust portfolio is made possible by an industry-leading R&D engine, which includes three distinct platform: a proprietary antibody platform capable of generating antibodies against a range of targets, including multi-transmembrane proteins and GPCRs; a next-generation ADC platform that utilizes proprietary payload and linker technologies to produce highly differentiated ADCs; and a modular 4-1BB-based T-cell engager (TCE) platform for developing bispecific antibodies targeting distinct tumor-associated antigens (TAAs).

Currently, LaNova’s pipeline includes 6 clinical-stage assets and over 10 innovative preclinical programs. Its leading clinical-stage candidates include LM-302, a differentiated anti-Claudin 18.2 ADC in Phase 3 development in China; LM-108, a potential best-in-class CCR8-targeting monoclonal antibody in Phase 2 in China; and several Phase 1 programs including LM-299 (anti-PD-1/VEGF bispecific antibody), LM-101 (anti-SIPRα monoclonal antibody), LM-305 (anti-GPRC5D ADC with global rights licensed to AstraZeneca), and LM-24C5 (anti-CEACAM5 bispecific antibody). Through internal R&D innovation and strategic external partnerships, LaNova is committed to advancing its pipeline to benefit patients worldwide.

LaNova’s key clinical stage pipeline programs and expected upcoming milestones

LM-299 (Anti-PD-1/VEGF bispecific antibody)

LM-299 is a bispecific antibody developed by LaNova that targets both PD-1 and VEGF. This innovative therapy can simultaneously block the PD-1/PD-L1 and VEGF/VEGFR signaling pathways, achieving a synergistic anti-tumor effect that combines tumor immunity with anti-angiogenesis. LM-299 features a differentiated molecular design, comprising an anti-VEGF antibody linked to a C-terminal anti-PD-1 antibody, which ensures high expression, optimal druggability, and best-in-class potential. Preliminary studies have demonstrated that LM-299 effectively inhibits the PD-1 and VEGF signaling pathways, enhancing anti-tumor efficacy. Additionally, toxicological and pharmacokinetic evaluations indicated that LM-299 possesses a superior safety profile. As a promising cornerstone therapy for the next generation of tumor immunotherapy, LM-299 can be combined with various treatment modalities, including immuno-oncology drugs, small molecule targeted therapies, antibody-drug conjugates and T cell activators, thereby significantly broadening the market potential for LM-299-based combination therapies. The Phase I clinical trial for LM-299 is currently enrolling patients.

LM-302 (Anti-Claudin 18.2 ADC)

LM-302 is an innovative antibody-drug conjugate (ADC) developed by LaNova, targeting Claudin 18.2, using the company’s proprietary multi-transmembrane protein antibody discovery platform. The drug consists of a Claudin 18.2-specific antibody linked to the cytotoxic agent monomethyl auristatin E (MMAE) via a cleavable VC-PAB linker. Claudin 18.2 is a transmembrane protein highly expressed in gastrointestinal cancers, including gastric, gastroesophageal junction, pancreatic, and biliary tract cancers. Treatments targeting Claudin 18.2 have shown significant anti-cancer potential in clinical settings. In the first quarter of 2024, LM-302 entered a Phase III registrational clinical trial in China, making it one of the top three candidates globally in terms of development progress for this target. Additionally, Phase II clinical trials exploring LM-302 in combination with PD-1 monoclonal antibodies are actively underway.

• Phase III GC/GEJ monotherapy: interim data readout expected in H2 2025
• Phase II 1L GC/GEJ combination study in US to be initiated in H2 2025

LM-108 (Anti-CCR8 monoclonal antibody)

LM-108 is a monoclonal antibody targeting CCR8, independently developed by LaNova using its proprietary multi-transmembrane protein antibody discovery platform. LM-108 effectively eliminates tumor-infiltrating regulatory T cells (Tregs) via antibody-dependent cell-mediated cytotoxicity (ADCC), while sparing peripheral Tregs. This enhances the immune system’s ability to attack tumor cells. Due to the specificity of CCR8, many global pharmaceutical companies are pursuing this target. LaNova has advanced LM-108 to Phase II clinical trials, making it one of the top three most advanced projects worldwide targeting CCR8. Preliminary clinical data show that LM-108 has demonstrated excellent safety and efficacy across multiple solid tumor types with significant unmet clinical needs. LM-108 holds promise as a new immunotherapy option, particularly for patients with advanced tumors who have become resistant to PD-1 treatments.

• Phase III registrational trial to be initiated in China in H2 2024
• Phase II combination trial to be initiated in US in H2 2024

SOURCE LaNova Medicines

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

With participation from existing investors Softbank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments and the Chan Zuckerberg Initiative

Eruditus, the parent company of Emeritus, closes funding round to deepen investment in AI products and accelerate growth of enterprise business after achieving profitability

MUMBAI, India, Oct. 18, 2024 — Eruditus, the global leader in making high-quality education accessible and affordable to individuals, companies, and governments around the world, announced today that it has raised a $150 million Series F fundraise led by TPG’s The Rise Fund, the multi-sector strategy of TPG’s global impact investing platform, with participation from existing investors Softbank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments and the Chan Zuckerberg Initiative. This highlights the company’s remarkable growth and impact through continuous innovation in high-quality career-oriented education across the globe. The raise comes on the heels of a banner year for Eruditus in which the company was named the #1 Global EdTech by Time and achieved profitability on a full-year basis.

The funding bolsters Eruditus’ global growth and will be used to invest in AI technology to further enrich the learner experience, expand the company’s rapidly growing business serving governments and enterprises and deepen its investments in the India and APAC regions. As the company continues to grow and scale, it eyes future acquisitions and investments, which have historically contributed to impressive topline growth and expansion in strategic markets. Avendus Capital was the exclusive financial advisor for the fundraise.

Eruditus’ mission to make high quality education accessible and affordable around the world has never been more critical. Business today is changing faster than ever—and the AI revolution means it’s set to change even faster. The company is accelerating its investments in technology to harness the power of generative AI to further enrich the learner experience and provide enhanced learning solutions. Eruditus has already launched proprietary AI-powered tutors for students and programs with partner schools. The need for training in the age of AI is driving unprecedented demand for the company’s enterprise solutions that grew revenue 45% last year.

Steve Ellis, a Managing Partner of The Rise Funds, said “Eruditus is expanding access to new education opportunities and giving professionals at all stages of their careers the skills they need to advance and succeed in today’s rapidly changing workplace. Eruditus’ mission aligns with a core investing theme for The Rise Funds, which focuses on backing strong businesses that are opening pathways to high quality education and driving greater lifetime earning potential for their students. We look forward to working with Eruditus to further enhance the platform and scale the business globally.” As part of The Rise Fund’s investment, TPG’s Simit Batra will join Eruditus’ board of directors.

Today, more than80+ top tier university partnersaround the world work with Eruditus to create over700 professional learning programsdelivered to more than 1 million individuals in 80+ countries. The company’s industry-driven certification programs, professional certificates, and workforce leadership development initiatives are defined by personal engagement between faculty and students, course customization, mentoring and coaching, and career counseling. The results are evident in course completion rates of 85% for their professional learners.

“With this investment, we’re excited to continue to grow and innovate to meet market demand,” said Ashwin Damera, CEO, Eruditus and Emeritus. “In a rapidly evolving business environment, we have reimagined education by bringing programs from the world’s leading universities to learners around the globe. Education is the key to transformation, for individuals, companies, and society and we’re appreciative of the support of our investors who enable us to accelerate our growth.”

About Eruditus
Eruditus, the parent company of Emeritus, is committed to teaching the skills of the future by making high-quality education accessible and affordable to individuals, organizations, and governments worldwide. It does this by collaborating with more than 80 top-tier universities across the United States, Europe, Latin America, Southeast Asia, India, and China. Eruditus’ short courses, degree programs, professional certificates, and senior executive programs help individuals learn new skills and transform their lives, companies, and organizations. Its unique model of state-of-the-art technology; curriculum innovation; and hands-on instruction from senior faculty, mentors, and coaches has educated more than 1 million individuals across 80+ countries. The Eruditus Group has more than 1,750 employees globally and offices in Mumbai, New Delhi, Shanghai, Singapore, Palo Alto, Mexico City, New York, Boston, London, and Dubai. The company is backed by TPG, the Chan Zuckerberg Initiative, Leeds Illuminate, Prosus Ventures, GSV Ventures, Peak XV, Bertelsmann, CPP Investments, Accel and SoftBank Vision Fund 2. For more information, please visit www.Emeritus.org.

About The Rise Funds
The Rise Funds are a core pillar of TPG Rise, TPG’s global impact investing platform. Founded in 2016, The Rise Funds invest behind impact entrepreneurs and growth-stage, high potential, mission-driven companies that are focused on achieving the United Nations’ Sustainable Development Goals. The Rise Funds deliver capabilities and expertise across a wide variety of sectors and countries at scale, focusing on opportunities in climate and conservation, education, food and agriculture, financial inclusion, healthcare, and impact services.

With approximately $19 billion in assets across The Rise Funds, TPG Rise Climate, and the Evercare Health Fund, the TPG Rise platform is one of the world’s largest private markets impact investing platforms committed to achieving measurable, positive social and environmental outcomes alongside competitive financial returns.

For more information, visit therisefund.com.

Logo – https://mma.prnewswire.com/media/2534293/Emeritus_Rise.jpg

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

New app raises $3.4M in funding from a16z Speedrun, HF0, Florida Funders, Soma Capital, Stand Together Ventures Lab, Transpose Platform, 305 Ventures, Mack Ventures to give Gen Z a space to proactively tackle what’s in front of them and build daily habits of self-care

NEW YORK, Oct. 17, 2024 — Manifest, a digital wellness company building products for Gen Z, today announced it has raised $3.4M in funding, from leading VCs including a16z Speedrun, HF0, Florida Funders, Soma Capital, Stand Together Ventures Lab, Transpose Platform, 305 Ventures, Mack Ventures and other angel investors. The new capital will be used to help Manifest scale its business operations as the company continues to harness the overwhelming demand for its new app, of the same name.

Manifest’s flagship app has struck a chord with Gen Z users worldwide, tapping into their desire for personal growth in romantic relationships, career success, financial abundance and emotional wellbeing. Even in stealth, the Manifest app has already delivered 15.8 million manifestations to Gen Z users around the globe, demonstrating the strong demand for its innovative approach to personal development. Recent user data highlights the app’s powerful impact: 1 out of 3 users turn to Manifest to talk about manifesting love and romantic relationships, while nearly a quarter engage with the platform to combat loneliness and strengthen friendships.

“Growing up, I was fortunate to have many opportunities, but as I entered the real world, I realized that despite incredible blessings, I wasn’t fully equipped to handle the emotional complexities of life,” said Amy Wu, founder and CEO of Manifest. “Like many of my peers, I found myself navigating big, life-altering decisions–breakups, career shifts, identity crises–without a reliable emotional compass. These universal experiences–though faced by many–felt intensely personal, yet I saw everyone around me struggling with similar challenges. That’s why I created Manifest. It’s designed to be the sounding board we all need, providing the right mix of empathy and positive thinking to help users proactively tackle life’s ups and downs with resilience.”

In a world that often feels overwhelming, Manifest empowers Gen Z with a sense of agency over their lives. Manifest represents more than a digital app; it’s a movement towards self-empowerment, giving Gen Z the tools to realize that they are not subject to the whims of the world around them. By encouraging proactive engagement with life’s challenges, Manifest empowers Gen Z to shift from feeling like passive observers to becoming active creators of their own narratives.

Manifest offers a one-of-a-kind, user-friendly experience where people can effortlessly share their thoughts and feelings through a voice note-like interface, receiving empathetic responses and actionable advice. Through the app’s unlimited venting sessions, daily affirmations, and gamified challenges that help not only teach, but make learnings repeatable and fun, Manifest has struck a chord with Gen Z by providing them with a support system that takes wellness from an infinite game into something doable, bite-sized and approachable.

“When Amy first came to us with the idea for Manifest, we knew she had cracked the code on something big,” said Andrew Lee, Partner, a16z Speedrun. “Built for Gen Z by Gen Z, Manifest incorporates all of the right gamified and familiar elements that appeal to this demo, but does it one better by giving them purpose. With this generation widely reported to be facing loneliness, anxiety and a general sense of despondence, providing them with a platform in which to engage in bite-size wellness on their own terms is unbeatable.” 

Manifest is currently free and available for download in the Apple App Store. For more information on how to access, please visit www.manifestapp.xyz.

About Manifest
Manifest is a digital wellness company building products for Gen Z. Founded in NYC, the company’s first app, of the same name, meets Gen Z where they are, giving this important demographic a personalized emotional toolkit to tackle whatever is in front of them. By leveraging unlimited venting sessions, daily affirmations, and gamified challenges, Manifest has struck a chord with thousands upon thousands of users while previously only in stealth mode. For more information about Manifest and how to access, please visit www.manifestapp.xyz or via Instagram, TikTok, or Pinterest.

Media Contact:
Rachel Rogers
310-770-4917
[email protected]

SOURCE Manifest

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

NEW YORK, Oct. 17, 2024 — P180, a new venture focused on growing brand and retailer profitability in the luxury apparel space, announced its investment in global fashion brand Altuzarra. This strategic move follows P180’s recent investment in the multi-brand premium retailer, elysewalker.

Altuzarra, known for its modern yet timeless luxury womenswear, is an ideal partner for P180 due to the brand’s strong market presence, exceptional design, and the leadership of its visionary founder, Joseph Altuzarra. The direct-to-consumer business has grown tremendously over the last five years making it a natural choice for P180’s growing portfolio.

In addition to its financial investment, P180 will support Altuzarra’s digital transformation by onboarding Altuzarra.com onto CaaStle’s propriety platform.  This critical step is expected to enhance Altuzarra’s e-commerce capabilities, transforming the digital channel into a guaranteed profit center for the luxury brand, while enabling the Altuzarra team to focus on evolving its creative vision and expanding its assortment. 

Co-founded by industry veteran Brendan Hoffman and CaaStle CEO Christine Hunsicker, P180 invests in compelling fashion brands and implements CaaStle’s platform to accelerate growth, and lift both profitability and valuation. P180 will provide operational experience and access to industry resources including the CaaStle platform, which offers technology enabling rental, pricing, e-commerce management, and digital marketing capabilities and expertise.

“P180 is thrilled to announce our second investment, focusing on the designer-led brand Altuzarra,” says P180 Co-Founder Brendan Hoffman. “This marks our first investment in a mono-brand, reflecting our belief that designer-led brands like Altuzarra have significant revenue and profit potential when provided with the resources to optimize their operations, particularly in inventory monetization. Altuzarra’s brand strength, product excellence, and Joseph Altuzarra’s continued leadership make it the perfect partner for P180. We’re excited to help unlock new growth opportunities together.”

Altuzarra’s founder and creative director, Joseph Altuzarra, expressed enthusiasm about the new venture: “I am thrilled to be partnering with P180, marking an exciting milestone for Altuzarra. Their forward-thinking approach and industry expertise provide the ideal foundation for our brand’s next phase of growth. This partnership will not only allow us to expand our global presence but also help us strengthen our digital strategy. I’m particularly looking forward to leveraging P180’s expertise to create more impactful ways to connect with our customers while continuing to push the boundaries of our creative vision.”

Over the next 12-24 months, P180 plans to expand its portfolio with additional investments in compelling fashion brands and retailers, providing working capital, operational expertise, and innovative digital capabilities to help brands reach new heights.

About P180:
P180, a new venture co-founded by Christine Hunsicker, and Brendan Hoffman, is dedicated to driving brand and retailer profitability by introducing CaaStle’s monetization technology into the omni-channel experience. P180’s core mission is to invest in or acquire brands and retailers that stand to benefit from operational expertise and innovative technology.  

About CaaStle:
CaaStle is the leading B2B technology company driving the next evolution of inventory monetization for apparel and beyond. The Company’s innovative CaaS (“Clothing as a Service”) rental platform has created a new economy for apparel – enabling retailers, fashion brands, content creators, and digital communities in the U.S. and U.K. to strategically participate in the rental economy and connect with highly engaged consumers looking for a more flexible and sustainable way to experience fashion. Named one of Fast Company’s Most Innovative Companies for two consecutive years, CaaStle is proving that rental is an essential and lucrative component of a brand’s omnichannel strategy. For more information, visit CaaStle.com.

About Altuzarra:
Altuzarra is a luxury fashion brand celebrated for its distinct blend of modern sophistication and timeless elegance. Since its founding in 2008 by Joseph Altuzarra, the brand has become synonymous with thoughtfully designed, meticulously crafted collections that marry creativity with an intimate understanding of the contemporary woman’s needs. Known for striking silhouettes, rich textures and prints, and an exacting approach to tailoring, Altuzarra creates clothing that empowers women to feel both confident and effortlessly chic, capturing the dynamic spirit of modern femininity.

SOURCE P180

Capital to support growth trajectory of ABL firm funding high growth companies and working to make financing more inclusive

NEW YORK, Oct. 17, 2024 — JPalmer Collective (JPC), an asset-based lending company committed to funding high-growth, women-led and natural products companies, today announced a series of transactions raising $72 million in gross proceeds. The raise will accelerate JPC’s growth trajectory and fund new loans to JPC borrower clients.

The capital raise consists of a strategic combination of financing including a senior revolving credit facility provided by Texas Capital Bank, a mezzanine credit facility from a New York-based institutional alternative asset manager, and an infusion of common equity. These transactions represent the first time JPC has raised outside capital since its founding in March 2023 by ABL-industry veteran, Jennifer Palmer. Up to this point, the company was funded by a diverse mix of investments from the founder, friends and family, and ultra-high-net-worth individuals.

Texas Capital Securities acted as the exclusive strategic and financial advisor to JPalmer in connection with the capital raise.

JPC’s customized financing solutions and white-glove, consultative services are designed to help businesses sustainably grow while enabling founders to retain their equity. This approach has propelled the company to the forefront of the industry, fostering lasting partnerships and driving meaningful impact for clients. The company specializes in high-growth businesses that do not fit traditional lenders’ criteria and has committed 51% of its portfolio to women-owned and -led companies and those that prioritize sustainability and inclusivity. To date, JPC has strategically funded a group of hand-selected clients, including 8Greens, Hippeas, Nona Lim, and Peace Coffee. 

“We’ve built incredible momentum over the first 18 months, and this capital raise will allow us to expand our portfolio and support innovative companies that are poised to make a significant impact in their industries, as well as continue our commitment to making financing more inclusive and meaningful,” said Jennifer Palmer, Founder and CEO of JPC. “We are fortunate to have great partners in this raise. We chose Texas Capital Bank as our bank due to our longstanding relationship with key management and their commitment to partnering with lenders. Texas Capital Securities crafted this sophisticated deal, and we are incredibly impressed by the team’s expertise and professionalism.”

About JPalmer Collective

JPalmer Collective is a customized asset-based lending solutions provider founded in 2023 by Jennifer Palmer, commercial finance veteran, former president of SFNet, and an advocate for improving women’s access to financing. Created to fund high-growth companies that do not fit the traditional lender’s criteria, the company provides white-glove service with a consultative approach to women-led companies, high growth consumer brands and companies focused on conscious consumers, sustainability, and inclusivity so they can achieve sustainable growth. Palmer serves on the board of directors of Star Equity Holdings, Inc. and the New York Institute of Credit. 

SOURCE JPalmer Collective

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

NEW YORK, Oct. 17, 2024 — Pip Care, a company that optimizes the surgical journey for care teams and patients, today announced a total Series A raise of $5 million in equity funding. The round was led by A1 Health Ventures, with participation from existing investor UPMC Enterprises.

The successful Series A close comes on the heels of Pip Care being awarded a $2.2 million grant from the National Institutes of Health to launch a trial of its platform with 2,000 patients. Pip Care partners with health systems and their surgical specialty teams to offer best-in-class care to patients throughout the surgical journey by coupling a smart phone app with a real-life health coach.

“This raise reaffirms the work we have done so far and fuels our next phase of growth to ensure we deliver the most impactful, tech-enabled, human-powered medical optimization platform to health systems, surgical care teams and their patients,” said Kathy Kaluhiokalani, founder and chief executive officer of Pip Care.

Pip Care is the first mobile app to pair a digital platform providing perioperative and post-operative instructions to patients with one-on-one telehealth coaches who check in regularly to assist patients throughout their surgical journey. This includes evidence-based protocol tracking, surgery and surgeon-specific perioperative and post-operative instructions to improve outcomes and reduce complications, and care coordination so patients can achieve their surgical goals. Recent academic research revealed that patients who used Pip Care had to stay in the hospital for nearly a day less than their counterparts who didn’t use the app and cut in half their risk of readmission within a week of surgery.

“Pip Care’s differentiated service offering deploys health coaches to conduct live sessions with patients, enhancing patient engagement, adherence and satisfaction. This ultimately drives better outcomes for patients, lowers costs for health systems, and enables standardization, consistency and reduction in administrative burden for care teams,” said Rachel Kern, managing director at A1 Health Ventures.

Launched in 2022, Pip Care is the first company to be created out of a collaboration between global healthcare venture builder Redesign Health and UPMC Enterprises, the innovation, commercialization and venture capital arm of UPMC.

“Pip Care is an example of the clinician-originated, patient-focused companies we value at UPMC Enterprises,” said Pip Care chief medical officer Aman Mahajan, M.D., Ph.D., M.B.A., senior vice president of health innovation at UPMC Enterprises and executive director of UPMC Perioperative and Surgical Services. “As the research shows, this approach results in improved surgical outcomes by providing patients timely support for evidence-based perioperative care, when and where they need it.”

In preparation for elective surgery, doctors will often recommend patients follow evidence-based protocols – known as ‘prehabilitation’ – to improve their health. These can include improving their nutrition, physical conditioning, psychological support and stopping smoking. Pip Care helps patients adhere to these protocols by simplifying the doctor’s presurgical instructions into daily tasks that are easy to understand and complete. The health coach answers questions and keeps the patient accountable. Finally, Pip Care also coaches patients through post-surgical care, such as understanding discharge instructions, wound care and the importance of proper pain management.

Pip Care improves clinical outcomes and patient satisfaction, without increased staffing or complicated workflows. By streamlining processes for care teams, Pip Care allows teams to move more than 20 patient touch points to Pip Care, saves over 10 hours of front office time per patient and empowers clinicians to function at the top of their licenses.

The high-touch, high-tech platform enables health systems to build personalized programs for patients, leveraging a digital platform to streamline, simplify and optimize all aspects of the surgical journey.

Bass, Berry & Sims served as outside counsel to Pip Care in their Series A round.

About Pip Care
Pip Care helps guide surgery patients through their journey with supportive personal health coaches, digitalized evidence-based care programs, like Enhanced Recovery After Surgery (ERAS), and a consumer-friendly mobile app designed to maximize surgical outcomes. Pip Care reduces the administrative burden for health systems by providing care coordination and guidance. By coaching patients to adhere to evidence-based protocols and make simple, time-limited behavior modifications, Pip Care can speed recovery and reduce the chance of infections, length of stay, and ER visits. Pip Care was founded in 2022 with investments from UPMC Enterprises, part of leading health system UPMC, and Redesign Health. For more information: pipcare.com

Contact: Allison Hydzik
Mobile: (412) 559-2431
Email: [email protected]

SOURCE Pip Care

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

HALLANDALE BEACH, Fla., Oct. 17, 2024 — Solubag USA, Inc. (“Solubag”) today announced new funding led by Exit Ventures, a premier venture capital firm based in Utah, to accelerate the company’s global expansion and drive substantial revenue growth.

Solubag has patented its revolutionary, proprietary formula to produce film bags (such as grocery or shipping-envelope bags), non-woven fabric bags, pet waste bags, bubble-wrap, laundry sheets, and firmware (such as utensils, straws, plates, cups, etc.) When Solubag’s products are discarded, they require no recycling or separation from other forms of waste, as they dissolve completely and harmlessly in water or soil in a few weeks to a few months.

Paul Burgon, Managing Partner at Exit Ventures, stated, “We are excited to make a strategic investment in Solubag, a company that is reshaping the future of sustainable materials. Solubag’s unique technology positions it as a leader in the cleantech space, and we look forward to playing a pivotal role in its growth.”

Mike Latham, President and CEO of Solubag, remarked, “The investment by Exit Ventures presents an extraordinary opportunity to expand our reach and accelerate our impact in the marketplace. Their experience in scaling high-growth companies will enable us to achieve our mission of replacing single-use plastics with environmentally responsible products.”

Cristian Olivares, Co-Founder of Solubag, added, “Exit Ventures brings valuable expertise in both cleantech and sustainability, positioning Solubag for profitable growth as we continue to innovate and expand globally.” 

About Solubag

Solubag is a leader in the development of environmentally sustainable alternatives to single-use plastics. Founded in Santiago, Chile, the company developed and patented a proprietary raw material that replaces traditional plastic in single-use products such as shopping bags, dog waste bags, t-shirt bags, bubble-wrap, etc. Solubag’s products dissolve in soil or water, are plastic-free, non-toxic, and eco-friendly, offering a viable solution to the global plastic waste problem. For more information, visit www.solubagusa.com or our consumer platform www.solubagstore.com. 

About Exit Ventures

Exit Ventures is a leading venture capital firm, investing in early-stage climate tech companies with a focus on transformative, high-impact technologies in massive markets. The firm works closely with global corporate partners in all stages of due diligence, investment, commercial partnership and exits to accelerate the pace of innovation and commercialization of critical climate technologies. www.exitventures.net.

SOURCE Solubag USA, Inc.

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

SAN DIEGO, Oct. 16, 2024 — Cymbiotika, a leading wellness and supplement brand committed to revolutionizing health through innovative, science-backed formulations, has announced the successful completion of a $30 million debt financing round. The financing was led by RevTek Capital, an industry-leading capital provider specializing in strategic debt financing for high-growth companies.

The partnership with RevTek Capital allows Cymbiotika to strengthen its balance sheet and provides the necessary working capital to support key initiatives, including expansion into retail, entering the Canadian market, and enhancing infrastructure and automation. These efforts are expected to drive exponential revenue and EBITDA growth in 2025 and beyond.

Cymbiotika selected RevTek Capital due to their proven ability to offer flexible financing solutions tailored to high-growth companies. This funding will not only accelerate the company’s product innovation pipeline but also fortify Cymbiotika’s operational efficiency and support continued investment in delivering premium, high-quality supplements to its rapidly expanding customer base.

“The successful completion of this financing round signifies the strength of our brand, the value of our products, and our immense potential in the market,” said Shahab Elmi, CEO and Co-Founder of Cymbiotika. “RevTek Capital made the entire process incredibly smooth and easy for us. Their team’s deep knowledge and expertise were evident every step of the way, and they provided invaluable guidance in structuring this financing. This partnership allows us to further scale our operations, enter new markets, and drive long-term sustainable growth. We’re excited for the road ahead and our continued mission to empower individuals to take control of their health.”

The financing will also provide Cymbiotika with the resources to optimize its supply chain and scale its digital and omnichannel marketing efforts, ensuring the company is well-positioned to meet both its immediate and long-term growth goals.

Scott Peters, CEO and Founder of RevTek Capital, added, “Cymbiotika is a remarkable company that has grown rapidly by staying true to its mission of delivering premium wellness products. At RevTek, we are proud to partner with forward-thinking companies like Cymbiotika that are making a meaningful impact on people’s lives. We look forward to supporting their continued success and growth.”

About Cymbiotika:
Cymbiotika is a premier wellness company dedicated to creating clean, natural products that enhance overall health and longevity. With a focus on scientifically advanced formulations, Cymbiotika combines cutting-edge research with high-quality ingredients to help customers achieve optimal health.

For more information, visit www.cymbiotika.com.

About RevTek Capital:
RevTek Capital is an industry-leading capital provider offering strategic debt financing of $2 million to $20 million+ in tranches to innovative companies with predictable annual recurring revenue (ARR) of $5 million to $75 million. The funding is used for accelerating organic sales growth and enhancing infrastructure for rapidly scaling operations. RevTek is an excellent alternative to equity, while customizing each company’s debt structure based on its unique accomplishments and circumstances.

With years of lending and entrepreneurial experience, RevTek delivers tailored credit solutions to growing companies nationwide, helping entrepreneurs scale their businesses while maximizing enterprise value for owners, management teams, and shareholders. Additionally, RevTek’s professional team brings extensive marketing and operations expertise to assist their clients in achieving success.

SOURCE Cymbiotika

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In