Implantable Neuromodulation System Shows Early Promise in Improving Patient Quality of Life by Reducing Monthly Headache Days and Severity of Migraine Attacks

MINNEAPOLIS, Oct. 9, 2024 — ShiraTronics, a clinical-stage medical device company developing neurostimulation therapies for chronic migraine patients, today announced the closing of a $66 million Series B financing. The round was led by new investor Norwest Venture Partners, with participation from additional new investors Seroba., OSF Ventures, the Global BioAccess Fund and an undisclosed strategic investor. Returning investors U.S. Venture Partners, Amzak Health, Treo Ventures and Aperture Venture Partners also participated in the round.

This latest round of funding will support ShiraTronics’ recently launched U.S. Food and Drug Administration (FDA)-approved pivotal trial, the RELIEV-CM2 Clinical Study, a multi-center, blinded, randomized, sham-controlled clinical trial. The trial is designed to evaluate the safety and effectiveness of the company’s Migraine Therapy System in patients who have failed current medical therapies and have treatment-resistant chronic migraine. The financing also will support the company as it seeks premarket approval from the FDA and fund the initial commercial launch of its innovative therapy for chronic migraine patients.

“Today, about 3 million patients in the U.S. suffer from chronic migraine attacks that are resistant to conventional therapies. Our recent pilot study, which evaluated the preliminary safety and efficacy of the ShiraTronics Migraine Therapy System, shows immense promise in improving patient quality of life and reducing the severity, duration and frequency of migraine headaches for these patients,” said ShiraTronics CEO Rob Binney. “We are deeply grateful for the support of our distinguished new and existing investors, and are laser-focused on delivering this breakthrough therapy to those in need.”

Current Treatment Options Are Limited for Chronic Migraine Suffers

Migraine is a neurological disease with no cure. About 2% of the world’s population suffer from migraine, severe headaches accompanied by a complex set of debilitating symptoms including pulsating head pain, nausea, and sensitivity to light and sound. In the U.S., 5 to 6 million people have chronic migraine, a condition characterized by 15 or more headache days a month with at least eight of those days marked by typical migraine symptoms. Of these chronic migraine patients, approximately 3 million are treatment resistant. For these individuals, existing therapy options fail to deliver consistent and lasting relief, often leaving them to rely on a dark room and isolation as their best therapy.

There is an urgent need for better treatment options. A recent study by the National Headache Foundation found that more than 50% of chronic migraine patients are dissatisfied with their current therapies due to lack of symptom improvement and about 75% have stopped, or avoid, systemic drugs due to side effects. Additionally, many approved medications show limited efficacy, reducing headache days by just two per month on average, compared to placebo controls.

“ShiraTronics is offering new hope to the millions of people with chronic migraine who cannot get relief from existing therapies. The company’s breakthrough therapeutic neuromodulation system is purpose-built to tackle this debilitating condition,” said Dr. Zack Scott, general partner, Norwest Venture Partners. “ShiraTronics fits perfectly with our mission to partner with medical device companies that have a winning combination: a proven team that brings impressive clinical and commercial experience, and cutting-edge technology that has a real potential to lower costs, enhance outcomes and drastically improve quality of life for patients.”

ShiraTronics’ Pioneering Neuromodulation System

With its drug-free neuromodulation system, ShiraTronics is addressing the debilitating symptoms of chronic migraine with a potential new solution for patients who have exhausted all other treatment options. The ShiraTronics Migraine Therapy System is a minimally invasive device that is implanted just beneath the skin in the head where it delivers small electrical pulses to targeted nerves associated with migraine pain. The therapy aims to interrupt and calm pain signals in the head, potentially relieving and preventing chronic migraine symptoms. Patients can personalize and control their therapy using a dedicated application, allowing for continuous, 24-hour management of their disease.

Shiratronics received Breakthrough Device designation from the Center of Devices and Radiological Health (CDRH) division of the FDA in 2021. In a recent pilot study, the ShiraTronics Migraine Therapy System demonstrated improvement in quality-of-life scores, substantial reductions in headache days per month and decreased severity of migraine attacks.

“Since Lynn Elliott and I co-founded ShiraTronics, it has been exciting to see the product development and clinical progress made by the ShiraTronics team under Rob’s leadership. I am looking forward to the next steps in the ShiraTronics journey to bring this novel therapy to serve millions of chronic migraine patients globally,” said Co-founder and Chairman of the Board Mudit K. Jain, Ph.D.

About ShiraTronics

ShiraTronics is a pioneering medical device company dedicated to developing state-of-the-art neurostimulation solutions aimed at improving the quality of life for patients living with chronic migraine. The ShiraTronics Migraine Therapy System demonstrated encouraging reductions in headache days and decreased severity of migraine attacks, as well as improvement in quality-of-life scores in its first-in-human pilot study. The company is currently enrolling its pivotal trial for FDA premarket approval, the RELIEV-CM2 Clinical Study. Based in Minneapolis, ShiraTronics is the first spinoff company from medical accelerator NuXcel and is backed by investors including Norwest Venture Partners, U.S. Venture Partners, Amzak Health, Treo Ventures, Aperture Venture Partners, Seroba., OSF Ventures, the Global BioAccess Fund and others. For more information, visit shiratronics.com.

SOURCE ShiraTronics

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Sports and Business Leaders Back USA’s First Professional Table Tennis League

PRINCETON, N.J., Oct. 9, 2024 — Capitalizing on the momentum of its highly successful inaugural 2023-24 season, Major League Table Tennis (MLTT) today announced a significant strategic investment round to accelerate the growth, continue the momentum and transform the landscape of professional table tennis in North America.

The $5.5M investment, secured from influential figures in the business of sports, includes David Blitzer, a senior executive at Blackstone and the only person to own team equity in the five major North American sports leagues; and Daryl Morey, the Philadelphia 76ers’ President of Basketball Operations. More than 20 other business leaders participated in this investment round, which underscores MLTT’s vast potential, broad appeal and rising prominence in the sports and entertainment arena.

“Table tennis is one of the most exciting sports to watch, as anyone who’s seen it in the Olympics knows,” said Morey. “I’m thrilled to see a professional table tennis league now established in the USA. MLTT’s innovative approach is sure to elevate the sport to new heights, and I’m excited to be part of this journey.”

MLTT Commissioner Flint Lane emphasized the transformative nature of this investment. “This isn’t just funding; it’s a partnership with visionaries who share our passion,” says Lane. “It empowers us to realize our ambitious goals: revolutionizing table tennis in America.”

Investment Highlights Include:

• Strategic Expansion Initiative: Expanding the MLTT footprint by adding teams in untapped markets to increase the league’s national presence and reach new fans. 
• Elevating Player Development: Investing in Minor League Table Tennis (MiLTT) to cultivate table tennis at the grassroots level.
• Technology Innovations: Integrating and deploying advanced technologies to create immersive and interactive viewing experiences, bringing fans closer to the action.
• Elite Talent Acquisition: Actively scouting and signing world-class international players, including more Olympians, to elevate competition and excitement.

MLTT is in the midst of its second season, having completed its third event of the year last week in Chicago, and will move to Miami for its next competition on Nov. 1-3. Twelve MLTT athletes competed in the Paris Olympic Games, including the entire U.S. Women’s team. Fans and followers have watched over 40,000 hours of MLTT content on social media channels alone since late July, 2024, including an expanded reach of over 2,500,000 fans from social media.

For more information about Major League Table Tennis, visit www.mltt.com or email [email protected].

For more updates, schedules, behind-the-scenes content, and information on MLTT players, teams, and coaches, follow us on X, Instagram, Facebook, TikTok, and YouTube.

SOURCE Major League Table Tennis

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Leading Client Engagement Platform for Law Firms Secures New Capital to Accelerate Growth and Innovation

CHARLESTON, S.C., Oct. 9, 2024 — Case Status, the leading AI-powered client engagement platform for law firms, announced the successful close of its Series B funding round today, securing $19.7 in investment led by Grayhawk Capital and Topmark Partners. This round also includes BIP Ventures, Front Porch Ventures and more. This new investment positions Case Status to continue to lead and revolutionize client engagement for law firms by expanding its technology offerings and scaling its impact across the legal industry.

The investment signals a major vote of confidence in Case Status and its mission to bridge the communication gap between attorneys and their clients and set a new standard for client engagement. This latest round will be used to enhance the platform’s technology, expand its feature set, and grow the company’s presence in key markets.

“We are incredibly excited about the opportunities this new round of funding brings,” said Andy Seavers, Co-Founder and CEO of Case Status. “Grayhawk Capital and Topmark Partners have been key supporters of our vision, and their investments will help us accelerate the development of our platform, ensuring that we continue to lead the legal industry in client communication solutions. At Case Status, we are committed to helping law firms build stronger relationships with their clients through seamless, transparent communication.”

With this infusion of capital, Case Status will focus on three core areas:

• Technology Innovation: Further developing its AI-powered communication tools to offer even more personalized and efficient client interactions.
• Market Expansion: Expanding into new legal markets and enhancing its offering to personal injury, family law, and other practice areas.
• Team Growth: Scaling the Case Status team to support its growing customer base and maintain exceptional service standards.

Case Status: Meeting the Evolving Needs of the Legal Industry

As law firms increasingly prioritize client satisfaction, Case Status has become an essential tool, allowing attorneys to offer real-time updates, transparent communication, and improved client engagement. With hundreds of law firms with over one hundred thousand clients using the platform, Case Status has proven its value in helping legal teams reduce client inquiries, improve satisfaction, and streamline operations.

“Clients today expect the same level of transparency and efficiency from their lawyers as they do from any other service provider,” said Seavers. “In the past, a law firm would have to choose between putting their clients or profits first. Now, firms who don’t choose Case Status are losing in both areas.”

Looking Ahead: A Bright Future for Case Status

As Case Status continues its mission to transform the client experience for law firms, the company sees tremendous growth potential in the legal industry. The Series B funding will allow the company to continue refining its product, entering new markets, and expanding its leadership positions.

“This funding round is a significant milestone for Case Status,” added Seavers. “But more importantly, it’s a testament to the work of our dedicated team, our trusted partners, and the incredible law firms and clients who use our platform every day. We look forward to continuing this journey together.”

About Case Status

Case Status was founded in 2018 by Attorney Lauren Gulley and Tech Entrepreneur Andy Seavers. It has grown to be the leading legal tech company for client engagement, with a vision of redefining how law firms interact with their clients. Our innovative, secure software platform and intuitive, 5-star rated app simplify client engagement by providing real-time updates, secure messaging, and AI-driven insights to keep clients informed about the progress of their cases. Case Status’s seamless integration with case management systems streamlines client communications, measures client satisfaction, and drives positive reviews and referrals. Our ultimate goal is an improved client and attorney experience.

Learn more about this exciting achievement and hear directly from our CEO, Andy Seavers, about the Series B raise in this video.

For more information about Case Status and its latest developments, visit www.casestatus.com.

Media Contact

Betsy Kinney, Case Status, [email protected], https://www.casestatus.com/

SOURCE Case Status

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• Clarios, Altris aim to commercialize low-voltage, sodium-ion (Na-ion) automotive batteries by 2026
• Altris to develop the sodium-ion cell technology, Clarios to provide advanced electrical modeling software for powering increasingly complex vehicle systems
• Readily-available, conflict-free minerals render sodium-ion batteries ideal for meeting growing demand for sustainable automotive solutions for advanced low-voltage power systems

GLENDALE, Wis., Oct. 9, 2024 — Clarios, a global leader in advanced low-voltage battery solutions, announced a strategic investment in Altris, a pioneer in sustainable sodium-ion battery technology, with the aim of manufacturing low-voltage, sodium-ion (Na-ion) batteries for the automotive sector.

This equity stake builds on a joint development agreement (JDA) between Clarios, producer of one in three of the world’s low-voltage car batteries, and Altris, a leader in sodium-ion cathode material and battery cell technology, focused on low-voltage Na-ion batteries.

Clarios will leverage its expertise in Battery Management Systems (BMS), software, and system integration to design the Na-ion low-voltage automotive battery system to optimize battery performance.

Altris will focus on developing the sodium-ion cell technology for this low-voltage application. Every vehicle, including hybrid electric and fully electric vehicles, requires a low-voltage energy source to power an increased number of software-based functions such as steer-by-wire, break-by-wire, autonomous functions, and enhanced in cabin experiences.

Clarios expects its investment to initially enable Altris to finalize and start pilot production of Na-ion automotive batteries, followed by commercial production beginning in 2026.

The Clarios low-voltage system architecture, comprising multiple networks and battery power sources, is essential for powering critical safety features and ensuring redundancy in vehicle electrical systems. Sodium-ion batteries are well suited to meet these increased power demands. At the same time, they are inherently sustainable and easy to recycle.

“A sodium-ion battery solution perfectly complements our chemistry-agnostic portfolio, neatly dovetailing with lithium-ion and lead-acid options to capture the best attributes of both: high performance and lower cost,” said Federico Morales-Zimmermann Vice President and General Manager, Global OEM Customers and Technology at Clarios. “A sodium-ion battery system provides agility for automakers seeking options in meeting intensifying low-voltage demands created by advanced vehicle technologies.”

The materials used to produce sodium-ion cells – salt, wood, iron and those found in air – are abundant globally and are free from harmful chemicals or minerals mined in conflict zones. Developing Na-ion batteries for vehicles would represent an important advancement in automotive battery technology, while advancing the auto industry’s circularity goals.

Clarios will be a member of the Altris Supervisory Board, overseeing the strategic direction and governance of the partnership. The board will consist of experienced professionals in battery technology, automotive industry trends, and corporate governance. David Patel, Vice President and General Manager Energy Systems at Clarios, will represent Clarios on the Supervisory Board and chair the Technical Committee, which will oversee the development and implementation of sodium-ion battery technology, ensuring compliance with industry regulations and driving innovation in battery design and performance. “The Clarios partnership will enable a leap ahead in high-performance sodium-ion automotive batteries by integrating our technology with Clarios’ superior software embedded in its state-of-the-art battery management systems,” Christer Bergquist, interim CEO of Altris. “Plus, the unmatched global market reach and deep relationships with automakers provides ample opportunities to accelerate commercial deployment.”

About Clarios

Clarios is the global leader in advanced, low-voltage battery technologies for mobility. Our batteries and smart solutions power nearly every type of vehicle and are found in 1 of 3 cars on the road today. With around 18,000 employees in over 100 countries, we bring deep expertise to our Aftermarket and OEM partners, and reliability, safety and comfort to everyday lives. We answer to the planet with a rigorous sustainability focus – advancing best-in-class sustainability practices and advocating for them across our industry. We work to ensure 100% of our products sold are recyclable, and we recycle 8,000 batteries an hour in our network. Clarios is a Brookfield portfolio company

About Altris

Altris is a Swedish sodium-ion battery developer. We develop cathodes, electrolytes, battery cells and factory blueprints to create market-leading sodium-ion batteries. Sprung out of the Ångström Laboratory at Uppsala University, we are taking our patented innovation from conception to commercialization. Our long-term goal is to become the primary supplier of sodium-ion batteries in Europe, making a real impact on the world by enabling a better battery at scale.

MEDIA CONTACTS

Clarios
Christian Riedel
+49 173 9975 410
[email protected]

Altris
Karin Lassegård
[email protected]

SOURCE Clarios

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Third Dimension will enable engineers and artists to recreate cities from the real world as well as imaginary ones with a single click

SAN FRANCISCO, Oct. 8, 2024 — Third Dimension AI, a 3D Generative AI company, announced today the close of its $7M Seed financing led by Felicis, with participation from Abstract Ventures, MVP, Soma Capital, Solari Capital, and other investors. The capital will be used to expand the Third Dimension team, further train 3D generative AI models that will bring to life Third Dimension’s vision of becoming the leading 3D company.

Founded by autonomous vehicle and gaming experts, Tolga Kart, Piotr Sokolski and Özgun Pelvan, Third Dimension was will empower engineers and artists to generate incredibly detailed, high-fidelity worlds—both real and imagined—with a single click. Prior to founding Third Dimension, Kart was VP of Engineering for a synthetic data company, Parallel Domain. Before joining Tesla as Technical Program Management & Simulation for Autopilot for over two years, he was a Senior Director on Call of Duty at Activision for over 5 years. Sokolski spent four years at Wayve during which he built photorealistic neural simulators for self-driving cars, as well as over three years at Google; and Pelvan is a published machine learning engineer with five published papers about neural networks and data imputation.

Third Dimension provides immersive quality, rendering engine ready content that is ready to use by professionals across multiple industries. Third Dimension’s target customers range from The U.S. Military to video game developers to autonomous vehicle companies.

“The ability to simulate the real world is one of the last frontiers in solving some very difficult engineering problems”, said Tolga Kart, Third Dimension’s CEO. “3D content generation is at an inflection point, and it’s about to have its Software 2.0 moment. Over the last five years, text and code generation have been transformed with ChatGPT. Image generation quickly followed suit. Video generation is seeing incredible momentum and will soon be a solved problem. 3D generation is the next frontier for generative content.”

Third Dimension is on a mission to build a one-stop tool that accelerates companies’ abilities to create worlds, allows artists to get to quality faster and allows engineers to build fantastical or entirely accurate representations of the real world in high-fidelity. This technology will accelerate workflows of developers from months of time to days or hours, and help save millions in expensive graphics development budgets..

“Third Dimension is going to redefine 3D creation.” says Aydin Senkut, Managing Partner and Founder at Felicis, “Their groundbreaking technology, which seamlessly generates precise 3D environments with a single click, is set to transform how engineers and artists create and simulate both real and imagined environments. By accelerating creativity and enhancing the detail in simulations, Third Dimension opens up new possibilities across various industries from defense to video games, and more. We’re so excited to be partnering with this incredibly experienced, veteran team.”

To get in touch with the Third Dimension team, reach out to [email protected] and view their job board here.

About Third Dimension

Founded in 2024, Third Dimension AI is creating large scale, usable environments, whether they’re true digital twins of real places, or completely virtual worlds. The firm is founded by ex Video game and Autonomous vehicle experts, and caters to industries ranging from Video Games, Film to Autonomous Vehicles and Military. The firm is based in California, and has locations in the UK and Turkey.

About Felicis
Founded in 2006, Felicis is a venture capital firm investing in companies reinventing core markets, as well as those creating frontier technologies. The firm was the first to offer a Founder Development pledge, providing needed resources to help founders scale themselves. Felicis focuses on early-stage investments and currently manages over $3B in capital across nine funds. The firm is an early backer of more than 49 companies valued at $1B+. More than 100 of its portfolio companies have been acquired or gone public, including Adyen, Credit Karma, Cruise, Fitbit, Guardant Health, Meraki, Ring, and Shopify. The firm is based in Menlo Park and San Francisco in California. Learn more at felicis.com.

Media Contact
Ellie Tippett
[email protected]
(415) 328-8079

SOURCE Third Dimension AI, Inc

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• Upgraded infrastructure for future technologies to realize sustainable solutions in all regions
• Digital R&D simulations to research recycling innovations
• Investments drive applications in core industries automotive and construction

PITTSBURGH, Oct. 8, 2024 — Covestro invests around 100 million Euros in its global R&D infrastructure and assets. With investments over a timeframe of three years until 2025, the global supplier of high-performance materials continues to secure its future competitiveness in a challenging environment. To create value for customers in every business section, the company focusses on future technologies to accelerate on the way to a full circular economy. A global digitalization strategy in R&D is a key building block on this way. Covestro is committed to becoming fully circular with continuous investments in its main innovation centers. With modernized equipment for customer service, automated systems and new digital capabilities being introduced in laboratories and technical centers around the globe, Covestro follows a holistic approach with activities at different levels.

Sucheta Govil, CCO at Covestro: “Our investments in R&D are integral to our strategy of creating value for our customers. They are enabling us to expand and maintain our innovation pipeline at a high level. By this, we are the go-to partner for more sustainable solutions which help to meet the climate-neutrality targets of our customers. Thanks to this global innovation booster, we come even closer to our joint goal to become fully circular.”

Digitalization leads the way to the laboratory of the future
One of the key examples of the R&D investments and cooperation across different business segments is the globally available expertise for In-Mold-Coating (i.e., Direct Coating), with the facilities in Leverkusen and other main R&D sites that were enhanced recently. To support further developments in process technology, end-to-end digitalization was implemented to record all process-relevant data. In the highly competitive automotive industry, innovation in In-Mold-Coating technologies enables high quality surfaces for a modern design of cars. This directly feeds the demand for a more efficient automotive production.

Another important investment milestone: High-performance computers (HPCII) mark the next expansion stage of technological evolution in Leverkusen towards an innovation incubator for the circular economy. By enabling simulation of chemical processes, the high-performance computers enable faster and more sustainable research processes. Amongst others they are used for example in foam processing simulations for refrigerators and enable energy efficiency and improved cool chains in end products.

“Simulations of chemical processes are a key element in the development of recycling technologies and research on new molecule classifications,” said Torsten Heinemann, Head of Group Innovation & Sustainability at Covestro. “Moreover, laboratory digitalization enables test data to be recorded in higher quality and to a greater extent than is usual in analogue ways. Both help us to find the most possible and more sustainable solutions for our customers more quickly. Many developments in the field of recycling would be like looking for a needle in a haystack without digital R&D and simulations. “

Chemical recycling is a promising approach especially for plastics that cannot be mechanically recycled or can only be recycled with considerable effort. With chemical recycling, large quantities of the original material can be recovered. One example is the Evocycle ^® CQ mattress project: Together with partners, Covestro has developed an innovative technology for the chemolysis of flexible polyurethane foams from used mattresses, in which the main components –polyol and the precursor to the isocyanate TDI – can be recovered. In this way, used mattress foams are directly converted back into renewed polyurethane building blocks.

Infrastructure and global sites benefit from ongoing investment

A functioning infrastructure is the basis for innovative research. Covestro’s investments therefore include modernization measures in its laboratories in Leverkusen. These laboratories drive among others application technology for coatings and adhesives in core industries like automotive and construction, but also special areas such as light guiding applications as well as medical applications.

Also in the U.S., Covestro is investing in a series of modernization and technical upgrades across its Pittsburgh campus. Covestro views the U.S. market as innovative and high potential. By improving the R&D facilities it signals strong commitment to the customers.

In the innovation center in Shanghai, China, distinct investments into infrastructure and digitalization over the past months echoed the leading solutions developments for automotive and electronics industries.

About Covestro:
Covestro is one of the world’s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. Covestro supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from Covestro are also used in sectors such as sports and leisure, telecommunications and health, as well as in the chemical industry itself. 

The company is geared completely to the circular economy. In addition, Covestro aims to achieve climate neutrality for its Scope 1 and Scope 2 emissions by 2035, and the Group’s Scope 3 emissions are also set to be climate neutral by 2050. Covestro generated sales of EUR 14.4 billion in fiscal year 2023. At the end of 2023, the company had 48 production sites worldwide and employed approximately 17,500 people (calculated as full-time equivalents).

Find out more about Covestro on our homepage. 
Read more in our Corporate Blog.

Forward-looking statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports, which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

CONTACT: 
Russell Glorioso
Telephone: 724-799-0321
EMail: [email protected]

SOURCE Covestro

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Polychain Capital leads Bitlayer’s extended A round, ushering in a new era of verification capabilities for Bitcoin.

SINGAPORE, Oct. 8, 2024 — Bitlayer, the first Bitcoin Layer 2 based on Bitcoin finality, has recently closed a $9M extension to its previously announced Series A funding round. The extended A round is led by Polychain Capital and co-led by Franklin Templeton, with participation from SCB Limited, Selini Capital, G-20 Group and other renowned institutional investors.

 Bitlayer raised a $5M seed round in March, followed by a $11M series A round in July from leading investors including Framework Ventures, ABCDE, Franklin Templeton, StarkWare, OKX Ventures, Alliance DAO, UTXO Management, and more.

This round of financing expands the Bitlayer community to new stakeholders and individuals dedicated to the BTC ecosystem. It further solidifies Bitlayer’s position at the helm of the Bitcoin Layer 2 field, bringing Bitlayer’s total funding raised to $25 million.

Bitlayer has proposed and implemented OpVM, a future-proof Bitcoin Layer 1 verification solution that combines fraud proofs (BitVM) and validity proofs (based on OP_CAT). This solution significantly enhances the security level of various protocols within the Bitcoin ecosystem, enabling the Bitcoin Layer 1 to verify arbitrary computations.

Investors Comments:

“Our investment in Bitlayer reflects our profound belief in the transformative power of their groundbreaking solutions. Bitlayer has demonstrated an unparalleled commitment to pushing the boundaries of what’s possible within the Bitcoin space. The Bitlayer team, led by Kevin He and Charlie Hu, have assembled a diverse group of experts with a shared passion for innovation and a deep understanding of the market’s needs. The imminent launch of Bitlayer V2 is set to capture the industry’s attention and validate the immense potential of OpVM.”  – Polychain Capital.

Progressing Toward a Future of Bitcoin Finality

After launching Mainnet-V1 on April 15th, over 280 Dapps have deployed on the Bitlayer network, covering infrastructure and developer tools, wallets, DeFi, NFTs, gaming, metaverse, RWAs, and more.

Moreover, Bitlayer has established itself as a core ecosystem partner for over 30 Web3 platforms, fostering collaboration and shared growth. These partnerships include notable players such as Hacken, AWS Cloud, Ankr, Polyhedra, Babylon, Particle Network, and Meson.

Since its founding, Bitlayer has been fully dedicated to the pioneering research and development of BitVM and OP_CAT, focusing on pushing the limits of the Bitcoin ecosystem’s capabilities and striving to enhance its programmability and efficiency through these advanced technologies.

The newly injected capital will accelerate the development and deployment of Bitlayer, enhancing its scalability, efficiency, and user accessibility. This includes preparation for the imminent launch of Bitlayer V2, a Bitcoin-native rollup in which state transitions are protected by Bitlayer’s OpVM technique, a verification gadget that combines both validity proofs and fraud proofs.

“Bitlayer’s innovative approach to blockchain technology is exemplified by its utilization of OpVM,” Kevin He, co-founder of Bitlayer, said, “It empowers Bitcoin to seamlessly integrate into any programmable blockchain environment in a trustless manner, which will catalyze rapid development and widespread adoption of a decentralized application ecosystem based on Bitcoin‘s substantial liquidity.”

Bitlayer V2 will be the first native Bitcoin Layer 2 utilizing OpVM. This is only the beginning of this exciting new chapter for Bitlayer. More exceptional growth and extraordinary progress is on the way for both Bitcoin and the larger crypto community.

About Polychain Capital

Polychain Capital, founded in 2016 by Olaf Carlson-Wee, is a premier investor in cryptocurrency protocols and companies which utilizes its highly crypto-native team through a hands-on, participatory approach towards investments with the goal to accelerate the global adoption of crypto.

About Bitlayer

Bitlayer is the first Bitcoin Layer 2 based on Bitcoin finality.

Bitlayer provides developers and users with a native Bitcoin Layer 2 environment through its innovative technologies including OpVM, Finality Bridge, and RtEVM. This platform ensures Bitcoin-equivalent security, a trustless cross-chain bridge, and a real-time EVM programming environment.

For inquiries or comments contact [email protected].

Follow Bitlayer to stay updated on protocol and ecosystem progress:

Website | Twitter | Discord | Medium | Github | YouTube

SOURCE Bitlayer Labs

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MILTON PARK, United Kingdom and ALEXANDRIA, Va., Oct. 8, 2024 — TreQ Global Inc (/trɛk/), a quantum computing company, announced today that it closed an oversubscribed seed round, raising $5+ million. Engineers at TreQ design, manufacture, and operate bespoke, open-architecture quantum computing clusters. The company serves clients building on-premises quantum-readiness infrastructure for businesses, institutions, and communities worldwide.

Lavrock Ventures led the round, with Creator Fund, Green Sands Equity, and firstminute capital joining the syndicate. Lavrock’s Steve Smoot will join TreQ’s Board of Directors. “We’re ecstatic to back the TreQ team because of their extraordinary quantum expertise and vision to fill an important gap in this quickly growing market,” said Smoot.

TreQ’s industry veterans will deploy this investment capital to grow its talented team, expand its supply chain, build its first systems, and deploy these systems where clients need them.

To expand its team, TreQ is recruiting engineers and technicians. “We’re growing our team of trailblazers. With a stewardship mindset, we’re setting the conditions for thriving at our company and in our industry,” noted Mandy Birch, TreQ’s CEO and Founder

“This is a company to watch! Mandy’s an inspiring leader with deep executive engineering expertise in both government and industry. I’m delighted to be on this journey with her and the TreQ team,” said Board Chair David Ferran.

TreQ’s approach marks a departure from single-technology, lab-based quantum computing. The company focuses on open-architecture design, systems engineering, and high-level manufacturing. By integrating innovative components and processor prototypes from a variety of sources, TreQ delivers complete quantum systems that expand the frontier of high-performance computing. This enables quantum computing pioneers to de-risk their investments with capital efficient, upgradable, extensible solutions that are compatible with their computing infrastructure.

Looking ahead, TreQ plans to scale its manufacturing operations. With a proven team, projected near-term profitability, and an agile, capital-efficient business model, the company offers a differentiated risk-management strategy in a deep tech industry. Positioned to lead innovation and drive value creation in a high-growth market, TreQ aims to drive breakthroughs that will benefit a range of industries. From energy and environmental stewardship to healthcare, logistics, and finance, quantum computing has the potential to reshape business, security, and scientific exploration.

Want to work with TreQ? Contact us at https://TreQ.tech.

Media Contact:
Gibson Armstrong
+1 717.371.0124
[email protected]

SOURCE TreQ Global Inc

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Funding will support commercial launch of MARAbio’s autism test in 2025 and development of therapeutic interventions

SALT LAKE CITY, Oct. 8, 2024 — MARAbio Systems, Inc. (MARAbio), a precision immunology company whose mission is to detect, treat and prevent Maternal Autoantibody Related Autism, has closed $19 million in Series A financing led by MAK Capital One, LLC (MAK), the New York-based investment management firm. As part of this new investment, Michael A. Kaufman and Craig Nemiroff of MAK will join MARAbio’s Board of Directors. The funding round is open to new investors through year-end 2024.

Maternal Autoantibody Related Autism (MARA) is a biological subtype of autism caused by the presence of a pattern of distinct autoantibodies in a mother. The discovery of MARA represents a major scientific breakthrough in the earlier and pre-symptomatic detection of autism in a child. Shown to be associated with more severe or profound forms of autism, MARA is estimated to comprise approximately 20% of all individuals with autism. MARAbio’s breakthrough science enables earlier behavioral intervention and treatment for children with autism, the benefits of which have been demonstrated in numerous clinical studies.

“This comprehensive funding led by MAK Capital will accelerate MARAbio’s mission to detect and mitigate Maternal Autoantibody Related Autism,” said Vincent A. Forlenza, Chairman of MARAbio’s Board of Directors. “This represents an important inflection point in early detection of this subtype of autism as we prepare to bring MARAbio’s science to market.”

“MAK’s investment in MARAbio reflects our conviction in the market potential of their revolutionary blood test. This capital raise will enable the commercialization of a powerful new diagnostic tool to benefit potentially millions of families, pre- and post-pregnancy,” said Michael A. Kaufman, Chief Executive Officer of MAK Capital.

MARAbio is a precision immunology company with exclusive rights to key discoveries made by Dr. Judy Van de Water at UC Davis / MIND Institute that form the biological basis of MARA. The Company has developed a proprietary blood test for women to accurately determine if they are carriers of the antibodies that cause MARA. The test can be used to diagnose MARA in children as early as birth as well as predict MARA prior to pregnancy. MARAbio is working to develop pre-symptomatic interventions, including therapeutic treatments, which will enable families and physicians to detect and limit the incidence of this subtype of autism.

“MARAbio has developed the first-ever blood test for a mother that detects autoimmune-related autism in her child, and our Series A funding round is a significant milestone that will accelerate our ability to bring this test to families in 2025,” said Michael S. Paul, Ph.D., MARAbio’s Chief Executive Officer. “MAK Capital’s investment will also support our efforts to develop a precision immunology platform for both the diagnosis of autism as well as the initial development of potential therapeutic interventions aimed at neutralizing the antibodies that cause MARA, ultimately preventing the MARA subtype and reducing the overall prevalence of autism.”

About MARAbio

MARAbio Systems, Inc. (MARAbio) is a precision immunology company with proprietary technology related to a distinct cluster of antibodies that lead to Maternal Autoantibody Related Autism (MARA). The Company’s first product will be a test to accurately predict the likelihood of MARA in a child through a simple blood test in the mother even before clinical symptoms exist, including prior to pregnancy or as early as birth. The Company’s mission is to detect, treat and prevent MARA, a subtype which has shown to be associated with more severe forms of autism.

For more information, please visit www.marabio.com.

SOURCE MARAbio

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