Fortius Metals welcomes new investor Finindus to $5M Seed+ round

LAFAYETTE, Colo., Oct. 8, 2024 — Fortius Metals, Inc., an innovative metal 3D printing company, is pleased to announce the successful closure of an additional $2 million in their Seed+ funding, bringing the total raised in the financing round to $5 million.  This latest funding infusion follows previous investments of $3 million and includes the addition of new strategic investor Finindus, who joined after receiving clearance from the Committee on Foreign Investment in the United States (CFIUS). Previous investors in the round include 412 Venture Fund, AM Ventures, and M7 Holdings.  The successful capital raise, despite uncertain venture conditions, underscores the strong confidence in Fortius Metals’ innovative approach to wire-based additive manufacturing and its potential to revolutionize the industry.

Fortius Metals is a large format additive manufacturing company that specializes in advanced materials, to help customers develop solutions previously not possible with robotic 3D printing. Fortius Metals’ patented technology enables welding and wire additive manufacturing using high-performance metal alloys to meet the rigorous requirements of aerospace and defense customers. Fortius customers and partners include the Army, Navy, Air Force, and NASA, as well as several defense primes and commercial space companies.

“Fortius Metals has received broad interest from customers and this investment helps bring new products to market, such as our proprietary 6061-RAM2 and 7075-RAM2 aluminum welding wires that solves traditional “hot cracking” problems,” said Jeff Lints, Fortius CEO. “We are helping our customers print designs using our robotic welding process expertise that were previously impossible.  In 2025, the company looks forward to launching new wire alloys with advanced properties like IN625-RAM, 316L-RAM, and 5183-RAM.  We are proud to be a Colorado company along with many of our space and defense customers.”

The proprietary alloys developed by Fortius Metals offer up to twice the strength of current commercial solutions used in welding and 3D printing. This provides customers with significant advantages in terms of design performance, product quality, and weight reduction. The company also offers robotic welding process expertise and proprietary predictive toolpaths that deliver dimensional accuracy, helping customers bring innovative designs to life with unmatched precision. The additional capital will help to accelerate these developments and enable Fortius to meet the timelines of customers who are eager to adopt this cutting-edge technology.

“Fortius Metals is pushing the boundaries of wire-based additive manufacturing with their unique materials and process expertise. We are excited to support their mission to revolutionize the production of large and complex parts without compromising material performance. This partnership aligns perfectly with our commitment to fostering innovative and sustainable industrial technologies,” said Roel Callebaut, Senior Investment Manager at Finindus.

Founded to develop nanostructured metal alloy wires for robotic additive manufacturing, Fortius Metals envisions reshoring the metal manufacturing supply chain while creating high-skilled manufacturing jobs across American factories.

About Fortius Metals

Fortius Metals is a large format additive manufacturing company specializing in new materials. These patented, groundbreaking metal alloys enable stronger, lighter fabrication for customers’ products ranging from rockets to electric vehicles. Fortius, headquartered near Boulder, Colorado, was formed in 2021 to commercialize wire-based products for use in robotic welding applications – with enhanced material properties such as 2x strength, improved corrosion resistance, and higher thermal conductivity.  Fortius in-house capabilities include wire manufacturing as well as wire arc and wire laser (wire DED) large format 3D printing cells.

www.fortiusmetals.com

About Finindus

Finindus is a Belgium-based venture capital investment company funded by ArcelorMittal and the Flemish Region and is linked to OCAS, a world-class metal research center. Finindus provides early stage and growth financing to innovative companies offering smart and green industrial technologies in the field of materials, sustainable manufacturing and industry 4.0.

Finindus teams up with outstanding entrepreneurial teams and like-minded investors to bring sustainable industrial innovations to full commercial maturity. Finindus invests across Europe, and globally in technology companies at the very core of its expertise and aligned with the strategic interests of its shareholders.

www.finindus.be

Contact:
Jeff Lints
***@fortiusmetals.com

Photos:
https://www.prlog.org/13041865

Press release distributed by PRLog

SOURCE Fortius Metals, Inc.

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Illinois-based craft cannabis company eyes expansion with new capital infusion.

CHICAGO, Oct. 8, 2024 — Cannect Wellness, one of Illinois’ fastest-growing craft cannabis companies, today announced the successful completion of its second round of funding, securing $7 million in fresh capital. This latest round brings the company’s total equity funding to $14.5 million, marking a significant milestone as it continues to expand its operations and enhance its product offerings.

Since its launch last year, Cannect Wellness has quickly gained recognition in the cannabis industry for its high-quality, premium craft cannabis products. With this additional funding, Cannect Wellness plans to double down on its “quality over quantity” approach while accelerating the scaling of its production capabilities and investing in the development of new, innovative products.

“We are thrilled to have the support of our investors as we continue to grow and push the boundaries of what a craft cannabis company can achieve,” said Gabe Singal, CEO and Co-Founder of Cannect Wellness. “This round of funding will allow us to reach more customers, improve our processes, and maintain our focus on high standards of quality and sustainability.”

The $7 million in new funding comes from a diverse group of investors, including both new and existing backers. Cannect Wellness plans to use the funds to increase its production capacity, expand its product portfolio, and double the size of its team. The company also plans to launch new brands and evaluate other expansion opportunities that align with its mission of providing the best cannabis experiences for consumers in Illinois.

“We have some exciting things in the works,” added Singal. “As the market changes, we work hard to stay ahead of the curve and our upcoming product launches will reflect that.”

Cannect Wellness’ rapid growth reflects a rising demand for high-quality, craft cannabis, as more consumers seek premium products in an increasingly competitive market. With its focus on quality and sustainability, Cannect Wellness is poised to remain a leader in the Illinois cannabis industry.

For more information about Cannect Wellness and its product offerings, please visit www.cannectwellness.com.

To find Cannect Wellness products at a dispensary near you, please visit www.cannectwellness.com/find-us.

Instagram @cannectwellness

SOURCE Cannect Wellness

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NEW YORK, Oct. 8, 2024 — Tildei, a pioneering conversational marketing platform, today announced its emergence from stealth with $6 million in seed funding. The company aims to transform how brands interact with customers in social channels like Instagram and WhatsApp by leveraging artificial intelligence to enable personalized, intelligent conversations at scale. Susa Ventures led the round with participation from Ludlow Ventures, Gradient Ventures, Lerer Hippeau, Vine Ventures, MXV Capital, Marcelo Claure, Jason Lemkin, and other angel investors. The company was incubated out of MXV Capital, a NYC based early stage fund.

Tildei will use the funding to further develop the platform’s AI capabilities, expand its channel support, and grow the team.

In an era where consumers increasingly prefer chat and social apps for communication, Tildei offers a paradigm shift from traditional mass messaging marketing approaches. The platform empowers brands to engage in real-time and context-aware conversations with customers which can range from answering basic queries to assisting with purchases. According to a study by eMarketer, in 2023, consumers spent an average of 151 minutes a day in social and chat apps like Instagram, TikTok, and WhatsApp. Tildei’s vision is to meet consumers in their platform of choice and power conversations where they are happening.

Tildei was founded by marketing technology industry veterans Mark Ghermezian, Kevin Dutra, and Manisha Shah. Ghermezian was the co-founder and founding CEO of Braze (BRZE), a lifecycle marketing platform that IPO’d in November 2021. Dutra and Shah were founding team members at Rebel, which was acquired by Salesforce in 2018.

“The proliferation of LLMs could not have come at a better time. Today’s customers expect personalized, immediate interactions. But that’s out of reach for the average brand,” said Ghermezian, co-founder and CEO of Tildei. “Our platform bridges the gap between this expectation and the limitations of current marketing tools, allowing brands to connect directly with their customers in social channels like Instagram and WhatsApp.”

The first channels supported by Tildei’s AI conversational platform are Instagram and WhatsApp, leveraging their respective 2 and 3 billion global active users. The company plans to add additional social channels this year, quickly expanding to help brands engage with customers wherever they are. The AI powered platform understands both a brand’s voice and the nuances of each channel so that marketers can take advantage of templates, quick replies, and other features for the best experience regardless of what social app is hosting the conversation.

“Tildei represents the future of marketing in a world dominated by chat and social apps,” said Chad Byers, co-founder and General Partner at Susa Ventures. “What impressed us most about Tildei is not just their innovative approach to conversational marketing, but also the team’s deep expertise in the martech space. With their AI-driven platform, Tildei is poised to revolutionize how brands engage with customers, creating more meaningful and personalized interactions at scale. We’re excited to support Tildei as they lead this shift in customer engagement.”

“Brands must evolve their engagement strategies and we want to be on the forefront of that,” said Felipe Araujo, Chief Digital Officer of Cariuma. “Today’s customer is no longer satisfied with one-way marketing messages. They want real-time connections and quicker feedback. Tildei made it easy to get started in both conversational marketing and a new channel. We are excited to see how this develops.”

About Tildei

Tildei enables brands to have meaningful conversations with their customers at scale. The platform makes it simple for marketers to create engaging conversations, capture data, and convert customers through truly personal interactions. Tildei was founded in 2022 and is based in New York City. For more information, visit www.tildei.com.

About Susa Ventures

Susa Ventures has been leading pre-seed and seed stage rounds since 2013. We invest $1m–$4m into software, internet and technology-enabled businesses. Each investor at Susa partners with only 2-3 startups per year, so each relationship is meaningful to us. Since inception, we’ve been partners to Robinhood (HOOD), Flexport, Viz, Stord, Human Interest, and many other unicorns, all from the seed stage. For more information, visit susaventures.com.

About Gradient Ventures

Gradient Ventures has been investing at the forefront of artificial intelligence since 2017. We are led by former founders, technical experts, and domain specialists, who know how to take an idea to product-market-fit and beyond. Gradient Ventures is headquartered in the San Francisco Bay Area. For more information, visit www.gradient.com.

About Lerer Hippeau

Lerer Hippeau is an early-stage venture capital firm founded and operated in New York City. Our portfolio includes more than 400 leading enterprise and consumer businesses including Guideline, MIRROR, Blockdaemon, K Health, Allbirds, ZenBusiness, and Thrive. We’re experienced operators who invest early and stay in our founders’ corners as they build iconic companies. Learn more at lererhippeau.com.

About MXV Capital

m]x[v Capital is a New York-based early-stage venture capital firm dedicated to funding and founding the future of B2B enterprise SaaS. m]x[v brings a founder and operator perspective to the table, providing hands-on support to help early-stage companies successfully launch, scale, and grow their businesses. For more information, visit www.mxv.vc.

SOURCE Tildei

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Windmill Also Raises $5 Million in Series A Financing To Further Accelerate Growth

NEW YORK, Oct. 8, 2024 — Windmill, the high-performance air care brand best known for modernizing the window air conditioner, today announces the launch of its latest innovation: The Windmill Air Purifier. Designed to elevate the rapidly-growing air purifier category, this first-of-its-kind product combines cutting-edge technology with contemporary, minimalist design, setting a new standard for indoor air care.

In parallel, Windmill announces the closing of a $5M Series A funding round, backed by YETI CapitaI¹, Pentland Ventures, Dot Capital, SuperAngel.Fund, and various other investors. The capital will support brand-building and marketing efforts, sales & distribution initiatives, as well as the continued build-out of its smart product suite, starting with The Windmill Air Purifier.

“The air purifier category has long been overdue for an upgrade with many products on the market unsightly, noisy, and ineffective,” shares Windmill Co-Founder and Co-CEO Mike Mayer. “With The Windmill Air Purifier, our mission is to prove that air purifiers can seamlessly integrate into any environment—from nurseries and gyms to kitchens and bedrooms—while still delivering top-notch performance.”

This launch comes amid a period of rapid growth in the global air purifier market, which is projected to reach $25+ billion by 2030.  As pollution levels around the world increase and awareness around the importance of indoor air quality rises, Windmill is leading the charge in redefining the category with both elevated design and smart software.

The Windmill Air Purifier, initially launching in three stylish colors—White, Navy, and Bamboo—boasts advanced features including a laser-based air quality sensor, automatic Eco Mode and dual Sleep Modes, as well as an intuitive app that allows users to control key settings. In line with Windmill’s commitment to eco-consciousness and sustainability, The Windmill Air Purifier is Energy Star rated and uses a DC fan motor for enhanced energy efficiency.

“Windmill is reimagining air care with the type of best-in-class, superior quality products that underlie our investment strategy,” shares Maxx Karr, Partner at YETI Capital. “Danny, Mike, and Ryan make a great team and we are thrilled to be a part of the disruption they are bringing to the space.”

Launched in 2020 by brothers Mike and Danny Mayer, along with third-generation AC expert Ryan Figlia, Windmill originally set out to breathe new life into the outdated window AC category. Since then, the modern air care brand has rapidly gained traction, selling more than 100,000 ACs nationwide, securing product placements in major retailers like Home Depot, P.C. Richard & Son, Best Buy, and Lowe’s, and expanding its product portfolio to include the state-of-the-art Windmill Air Circulator and Fan. Now, with the launch of The Windmill Air Purifier, Windmill continues on its mission to revolutionize home air care.

The Windmill Air Purifier is available for purchase at windmillair.com, with prices starting at $299.

About Windmill
Windmill is a modern air care brand developing high-performance, smart, sustainable air products and technology through thoughtful design and innovation. Since its founding, Windmill has been on a mission to bring to market accessible, clean air products that not only perform exceptionally well, but also enhance the aesthetic of any home.

¹ YETI Capital is an investment vehicle created by the Founders* of YETI Holdings, Inc. (YETI: NYSE) (“YETI”). YETI Capital is not affiliated in any way with YETI.

SOURCE Windmill

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Astellas receives an exclusive option to license AVB-101, an investigational, AAV-based gene therapy in Phase 1/2 development 

AviadoBio receives $20 million equity investment, up to $30 million in upfront payments and is eligible to receive up to $2.18 billion in license fees and milestone payments plus royalties if Astellas exercises its option

LONDON and TOKYO, Oct. 8, 2024 — AviadoBio Ltd. (“AviadoBio”) and Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura, “Astellas”) today announced an exclusive option and license agreement for AVB-101, an investigational, AAV-based gene therapy in Phase 1/2 development for patients with frontotemporal dementia with progranulin mutations (FTD-GRN).

FTD is a devastating form of early-onset dementia that typically leads to death within three to 13 years from diagnosis.  People with FTD commonly experience a rapid decline in executive function (attention control, working memory, problem-solving etc.), uncharacteristic behaviors, loss of language, apathy, and reduced mobility. It is an important cause of dementia in those under the age of 65 and is often underrecognized, and misdiagnosed. ^1,2,3,4

Under the terms of the agreement, Astellas will have the option to receive a worldwide exclusive license for the development and commercialization rights to AVB-101 in FTD-GRN and other potential indications. Astellas will make a $20 million equity investment and up to $30 million in upfront payments for the option to license AVB-101. AviadoBio is also eligible to receive up to $2.18 billion in license fees and milestone payments plus royalties if Astellas exercises its option.

Lisa Deschamps, CEO, AviadoBio
“As we complete dosing of the first cohort of patients in our Phase 1/2 ASPIRE-FTD trial of AVB-101, we are excited about the potential of this collaboration to help address the unmet need that exists today in frontotemporal dementia. This strategic collaboration will combine our promising gene therapy candidate for FTD-GRN and delivery expertise with Astellas’ global capabilities in development and commercialization of gene therapies. Together, we can further accelerate delivering this investigational medicine to families around the world who so desperately need treatment options for FTD-GRN and other neurological diseases.”

Adam Pearson, Chief Strategy Officer, Astellas
“We look forward to collaborating with the team at AviadoBio as we expand our gene therapy pipeline to help a broader range of people living with debilitating, neurodegenerative diseases. AVB-101 represents a truly innovative approach to the treatment of FTD-GRN and has the potential to be part of the next generation of gene therapy products through the creation of this agreement. Genetic regulation remains a cornerstone of our primary focus strategy at Astellas and this agreement helps us to continue to provide potential solutions for patients in need.”

About AviadoBio

At AviadoBio, we are relentlessly chasing cures by translating groundbreaking science and precision delivery into life-changing medicines for people living with neurological conditions. With our deep understanding of the brain and suite of proprietary gene therapy platforms and delivery technologies, AviadoBio is working to overcome the challenges of delivering the right drug to the right place. Its innovative, neuroanatomy-led approach is designed to maximize the therapeutic potential of gene therapy to halt or potentially reverse neurodegenerative diseases. AviadoBio was founded on pioneering research from King’s College London and the UK Dementia Research Institute and has a leadership team with extensive gene therapy development, delivery, and commercialization experience which uniquely positions the company for success in bringing transformative medicines to patients.

AviadoBio’s investors include New Enterprise Associates (NEA), Monograph Capital, F-Prime Capital, Johnson & Johnson Innovation – JJDC, Inc. (JJDC), SV Health Investor’s Dementia Discovery Fund (DDF), Advent Life Sciences, EQT Life Sciences (Dementia Fund), and LifeArc Ventures.

For more information, please visit www.aviadobio.com and follow us on X @AviadoBio and LinkedIn at AviadoBio.

About Astellas

Astellas Pharma Inc. is a pharmaceutical company conducting business in more than 70 countries around the world. We are promoting the Focus Area Approach that is designed to identify opportunities for the continuous creation of new drugs to address diseases with high unmet medical needs by focusing on Biology and Modality. Furthermore, we are also looking beyond our foundational Rx focus to create Rx+^® healthcare solutions that combine our expertise and knowledge with cutting-edge technology in different fields of external partners. Through these efforts, Astellas stands on the forefront of healthcare change to turn innovative science into VALUE for patients. For more information, please visit our website at https://www.astellas.com/en.

About Astellas Gene Therapies

Astellas Gene Therapies is an Astellas Center of Excellence developing genetic medicines with the potential to deliver transformative value for patients. Our gene therapy drug discovery engine is built around innovative science, a validated AAV platform, and industry leading internal manufacturing capability with a particular focus on rare diseases of the eye, CNS and neuromuscular system. Astellas Gene Therapies will also be advancing additional Astellas gene therapy programs toward clinical investigation. Astellas Gene Therapies is based in South San Francisco, with manufacturing and laboratory facilities in South San Francisco, Calif., Sanford, N.C. and Tsukuba, Japan.

Astellas Cautionary Notes In this press release, statements made with respect to current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Astellas. These statements are based on management’s current assumptions and beliefs in light of the information currently available to it and involve known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such factors include, but are not limited to: (i) changes in general economic conditions and in laws and regulations, relating to pharmaceutical markets, (ii) currency exchange rate fluctuations, (iii) delays in new product launches, (iv) the inability of Astellas to market existing and new products effectively, (v) the inability of Astellas to continue to effectively research and develop products accepted by customers in highly competitive markets, and (vi) infringements of Astellas’ intellectual property rights by third parties. Information about pharmaceutical products (including products currently in development) which is included in this press release is not intended to constitute an advertisement or medical advice.

1. Onyike CU and Diehl-Schmid J. Int Rev Psychiatry. 2013;25(2):130–137;
2. Riedl L et al. Neuropsychiatr Dis Treat. 2014;10:297–310; 
3. Onyike CU. Neuroepidemiology. 2011;37:166–167; 
4. Kansal K et al. Dement Geriatr Cogn Disord. 2016;41:109–122; 

SOURCE Astellas Pharma Inc.

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Empowering AI builders with a scalable, human expert-driven platform for complex data workflows

SAN FRANCISCO, Oct. 8, 2024 — Kiva AI, a platform designed to deliver high quality and compliant data solutions at scale for the development of specialized AI applications in industries such as healthcare, finance, and law, has announced the close of a $7M seed round led by CoinFund. Additional investors include Protagonist, Hashkey, Peer VC, and notable entrepreneurs such as Bill Tai, Slava Rubin, Cyrus Massoumi, Brian Norgord, and Jack Herrick. This investment will support Kiva AI’s expansion of its global network of human experts and the continued development of advanced solutions for data annotation, preprocessing, and integration.

A New Era of Data Ripe for Discovery

As AI development increasingly pushes into complex, regulated fields, the need for high-quality, reliable data has already outpaced a sparse supply. Kiva AI’s platform integrates human expertise and advanced AI technologies to ensure that data labeling, preprocessing, and governance are handled with precision and efficiency. By simplifying complex data creation and management processes, Kiva AI empowers organizations to focus on innovation while ensuring that their AI models are supported by accurate and compliant data.

Practical Use Cases in AI

Kiva AI enhances AI performance by leveraging a global network of experts to label data sets within their domain-specific expertise. This is particularly critical in applications requiring specialized knowledge, such as medical diagnostics or legal document analysis. For instance, a rural health clinic developing an AI model to triage patient scans can rely on Kiva AI’s experts to accurately label cases, ensuring their model supports prioritizing the most urgent patients first. Similarly, a developer building a legal assistant to digest large volumes of court briefings and legislation by state will benefit from Kiva AI’s network, which matches the project with domain-specific experts who can guarantee high-quality, timely data labeling for optimizing model performance.

“Kiva AI is more than a data management platform — it’s about providing AI builders with the critical support they need to unlock new possibilities in their models,” said Ahmed Rashad, Founder & CEO of Kiva AI. “Our platform brings together global experts to manage and optimize data workflows, ensuring accuracy and compliance in even the most complex applications.”

Strategic Investment to Drive AI Innovation

“The improving, accelerating efficacy and usability of AI is undeniable, but we are still far from unlocking the technology’s potential at the frontiers of mathematics, physics, medicine and more,” said Evan Feng, Partner, CoinFund. “As the more easily-accessible sources of data for AI training and inference dry up, we believe that platforms like Kiva AI will become increasingly valuable to a growing list of businesses that are looking to compete effectively at the cutting edge.”

With this investment, Kiva AI will expand its global network of human experts and continue developing its platform to meet the growing demand for specialized data solutions in AI. Kiva AI is hiring engineers who are passionate about the intersection of AI and human life. To apply to work at Kiva AI, visit the Careers page.

About Kiva AI

Kiva AI is the comprehensive platform designed for high-quality, human-in-the-loop solutions for data collection, preprocessing, labeling, storage, and integration. By combining human expertise with the latest AI technologies, Kiva AI delivers scalable, reliable, and transparent data solutions that facilitate the development of the world’s most ambitious and specialized AI applications. For more information, visit www.kivaai.com, or follow us on LinkedIn and X.

About CoinFund

CoinFund is one of the world’s first cryptonative investment firms and a registered investment adviser founded in 2015. The firm champions the leaders of the new internet, powered by foresight as active investors to achieve extraordinary outcomes. CoinFund invests in seed, venture, and liquid opportunities within the blockchain sector with a focus on digital assets, decentralization technologies, and key enabling infrastructure. For more information, join us at www.coinfund.io, LinkedIn, X or keep the conversation going on our podcast.

SOURCE Kiva AI

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New funding round brings total company investment to $18 million

MOUNTAIN VIEW, Calif., Oct. 8, 2024 — Corvus Robotics, a provider of autonomous inventory management systems, today announced an updated version of its Corvus One system that brings, for the first time, the ability to fly its drone-powered system in a lights-out distribution center without any added infrastructure like reflectors, stickers, or beacons. The newest generation product is supported by an $18 million Series A round and seed funding led by S2G Ventures and Spero Ventures.

Watch the Corvus One drones fly in a lights-out warehouse

“Corvus Robotics fits our mission to invest in companies that truly transform the way business is conducted,” said Marc Tarpenning, co-founder of Tesla and partner at Spero Ventures. “Other than a landing pad, its drone-powered system requires no infrastructure, is quick and easy to deploy, and cost-effective to manage. It literally merges with the existing warehouse environment.”

“At S2G, we seek out disruptive innovations that address evolving industry needs, and we believe Corvus exemplifies this perfectly,” said Arthur Chow, principal at S2G. “Its technology offers a tangible path to operational excellence by delivering accuracy and productivity gains, all while being easy to implement. We are proud to support a company that’s revolutionizing a core operational aspect for industries across the board.”

AI-Driven Real-World Navigation

Using computer vision and generative AI to understand its environment, the fully autonomous Corvus One drone system operates in both very narrow aisles (minimum width of 50 inches) and in very wide aisles. With obstacle detection at its core, the light-weight drone safely flies at walking speed without disrupting workflow or blocking aisles and can preventatively ascend to avoid collisions with people, forklifts, or robots, if necessary. Its advanced barcode scanning can read any barcode symbology in any orientation placed anywhere on the front of cartons or pallets.

“Being able to run inventory checks 24/7 without operator assistance has been a game changer,” said Austin Feagins, senior director of solutions, Staci Americas. “The lights-out capability in the Corvus One system allows our inventory teams to correct discrepancies off-shift and pre-shift before production starts each day; limiting fulfillment delays and production impacts.”

Corvus One can be relied upon to boost efficiency and cut overall inventory costs, specifically:

10x Labor Productivity – By shifting associates to higher-value tasks like picking and replenishment, Corvus One improves operational efficiency while also realizing hundreds of thousands of dollars in labor savings.

Inventory Accuracy and Space Optimization – The system helps maximize space utilization, avoid stockouts, and improve KPIs with smarter replenishment and more accurate physical inventory (PI) counts. It ensures 99.9% inventory accuracy, can free up to 10% total pallet racking space, and reduces shrinkage and material handling equipment costs.

Flexible WMS Integration – Corvus One works with or without a warehouse management system (WMS). Lite integration is available via CSV or XLS exports.

Quick and Easy Implementation – With no Wi-Fi installation required, deploying Corvus One takes less than a week.

“The Corvus One system is a vital component of end-to-end inventory visibility and optimization,” said Jackie Wu, co-founder and CEO, Corvus Robotics. “We’re growing extremely quickly, and our recent funding round will be used to help Corvus meet rapidly growing customer adoption while continuing to build products with capabilities nowhere else in the world ever has had.”

About Corvus Robotics
Corvus Robotics provides the first and only autonomous inventory management system built on an AI world model. Purpose-built in America, its Corvus One product deploys fully autonomous, infrastructure-free drones that fly without human operators, equipping warehouses and production plants with efficient, accurate inventory management. Its data-driven, “robots as a service” model allows companies, such as MSI Surfaces, Staci Americas, and Quanta Computer, to quickly respond to changes in demand, reduce labor costs, save hundreds of thousands of dollars annually and enhance the customer experience. For more information, visit www.corvus-robotics.com.

Media Contact:
Andrew Burer
Head of Marketing, Corvus Robotics
[email protected]
833-558-0812

SOURCE Corvus Robotics

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ST. PETERS, Mo., Oct. 8, 2024 — BizzyCar, a leading autotech solution that exponentially increases service revenue by automating recalls, announced today the successful close of their $15M growth funding round. The oversubscribed round was led by Dealer Tire, with participation from existing investors.

The investment will be used to accelerate BizzyCar’s growth and scale its AI-driven platform to meet increasing demand from dealerships across the United States and Canada. BizzyCar has exceeded 300% year-over-year growth for multiple years and the company is continuing to reshape how dealerships manage service operations.

“We’re excited about the future of BizzyCar and this latest funding round is a critical step in our growth journey,” said Ryan Maher, CEO of BizzyCar. “This capital will enable us to accelerate our efforts in building the next generation of automated service platforms, reaching more dealers, and driving innovation across the auto industry. Dealer Tire stood out as the perfect strategic partner, not only because we share the same customer base and stakeholders, but also due to their vast network of nearly 9,000 dealership customers and over 20 OEM relationships. Their ability to help us scale aligns perfectly with our vision, and together, we’re positioned to deliver even more value to dealerships nationwide.”

Game-Changing Technology for Dealerships

BizzyCar’s core product is a fully-automated service platform that uses proprietary recall data to drive customers into franchise dealers for recall service, frequently exceeding 10x ROI and increasing customer retention. In a challenging environment, dealers are increasingly focused on maximizing service profits, which currently make up over 50% of their gross profit. By automating critical service processes, BizzyCar helps dealers increase efficiency and profitability.

The platform integrates directly into OEM systems and leverages best-in-class first-party data, powered by AI, to provide a turnkey solution for dealerships. BizzyCar is also investing heavily in mobile service technology, offering dealers better ways to integrate mobile service into their processes.

“We have been watching the acceleration of BizzyCar in the recall space with interest. We understand the significance of a solution that improves safety for drivers and efficiency for dealer owners. Dealer Tire is excited to be a part of the Company’s growth,” said Scott Mueller, CEO at Dealer Tire.

Newly included in their suite of offerings is Recall Scout, a powerful tool designed to eliminate missed service opportunities for dealerships. With 70 million vehicles on the road currently subject to recalls, and 34 million recalls last year alone, Recall Scout helps dealers tap into a critical service revenue stream by identifying and addressing recalls for customers that already have unrelated service appointments booked.

Continued Growth and Expansion

In addition to rapid product adoption, BizzyCar has expanded its team to 80 members and plans to grow to 120 employees by the end of the year. With this new capital, the company is positioned to continue its annual growth trajectory, adding new customers and increasing the capabilities of its platform.

“Our mission is to build the next generation automated service platform in autotech, while making roads safer for drivers across all manufacturer brands,” said Maher. “We are excited to continue partnering with innovative investors like Dealer Tire, Avenue Growth Partners, and Cequel III, as we scale our platform and bring transformative solutions to the automotive industry.”

About BizzyCar
BizzyCar is the leading provider of fully-automated service solutions for the automotive industry. Its integrated, AI-powered platform provides an end-to-end solution that empowers dealerships to streamline operations, increase profitability, and enhance customer satisfaction. With $30 million in funding raised to date, BizzyCar continues to expand its presence across the U.S., driving innovation and efficiency in the automotive service sector.

About Dealer Tire
Dealer Tire was formed out of a family business that was founded in 1999 by the then owners of the former Mueller Tire & Brake, a Cleveland-based retail chain founded in 1918. Today, Dealer Tire’s core business manages replacement tire and parts programs for more than 20 automotive OEMs in the U.S. and China. It serves nearly 9,000 automotive dealerships from 40 distribution centers across the U.S. Dealer Tire’s enterprise also includes leaders across the automotive reconditioning, ecommerce and vehicle protection & warranty industry segments through its family of companies. For more information about Dealer Tire, visit www.dealertire.com.

Media Contact:
Laurie Halter
Charisma!
503-816-2474

SOURCE BizzyCar

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CRANBERRY TOWNSHIP, Pa. , Oct. 8, 2024 — Green Cabbage, the global leader in spend analytics and the only cost-reduction company that offers a subscription-based model with a savings guarantee, today announced its Series A funding by Sorenson Capital. The new funding will bolster Green Cabbage’s continued expansion, supporting its mission to drive innovation in procurement and workforce market intelligence. The partnership strengthens Green Cabbage’s ability to scale its operations and enhance the rapid development of its offerings both domestically and internationally.

“We are excited to bring on outside capital for the first time to supercharge our customer offerings”, said Eric V. Cunningham, CEO of Green Cabbage. “Sorenson’s investment validates our vision and the continuous value we’ve delivered to hundreds of new clients this year alone. With Sorenson Capital’s support, we will continue to expand our footprint and provide groundbreaking solutions that enable clients across the globe to optimize their supplier agreements and maximize savings.”

Technology is one of the largest expenditures for companies, and the cost of technology contracts keeps rising. Companies often lack the skills, time and resources to compare those contracts and negotiate optimally with suppliers. “There is a fast-growing interest from companies of all sectors to seek actionable savings on their technology costs, and Green Cabbage has the unique combination of data, expertise and supplier connections to find the best legal and business terms,” says Cunningham, adding “this investment will fuel Green Cabbage’s growth strategy, allowing the company to drive even more substantial savings for its customers. Both Green Cabbage and Sorenson Capital are committed to pushing the boundaries of procurement excellence.”

“We are very pleased to partner with the Green Cabbage team in providing excellent cost-saving and workflow solutions to procurement executives around the globe,” shares Brady Broadbent, Partner at Sorenson Capital. “Eric and his brilliant team have built an outstanding procurement solution and will lead procurement innovation in the future.”

About Green Cabbage:
Green Cabbage is the global leader in Technology & Contingency Workforce Market Intelligence. Our secure platform ensures swift operations, offering detailed comparisons at the Micro-SKU level, alongside comprehensive business and legal term insights. Green Cabbage enables private equity firms, consulting companies, and B2B enterprises worldwide to achieve savings of 15-30% on supplier agreements. With expertise spanning pricing, licensing, negotiation, audit defense, legal guidance, and training, Green Cabbage empowers clients to secure the best prices and overall agreements, optimizing procurement processes efficiently.

About Sorenson Capital:
Sorenson Capital is a leading venture capital firm focused on investing in early and growth-stage B2B software companies in the application layer, artificial intelligence, cybersecurity, data, and infrastructure sectors. With over $1.4 billion of assets under management, the firm supports entrepreneurs through every stage of their journey to accelerate revenue growth and further their product leadership position.

Media Contact: Alex Fochler, [email protected]

SOURCE Green Cabbage Inc.

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