SINGAPORE, Sept. 11, 2024 — HTX Ventures and HTX DAO showed strong engagement during the Korea Blockchain Week 2024 (1-7 September) .Through exclusive side events and engaging panel discussions, HTX Ventures and HTX DAO demonstrated their thought leadership in blockchain investments and AI innovation, connecting with influential partners and driving forward the industry’s most critical conversations.

As a leader in the Web3 space, HTX Ventures seized the opportunity to showcase its pioneering investment strategies, showing strong interests in prominent sectors like BTCFi, SocialFi, and decentralized AI. At the VIP private dinner hosted by HTX DAO on 3 September, an elite audience of trading firms, institutional clients, and key partners facilitated networking and potential future collaborations. Similarly, HTX Ventures’ private dinner on 5 September garnered strong interest from new and existing partners, reaffirming their influence in shaping the venture capital landscape in Web3.

Other events include “Entertainment Reimagined” Web3 entertainment side event with Fellaz and TRON on 4 Sept, Ecosystem Global Meet-up on 5 Sept, AI Crypto Summit, a Web3 conference on AI and blockchain, on 5 Sept, and several after parties.

Insights on Promising Sectors

Representing HTX Ventures, Managing Partner Edward delivered his insights on the evolving landscape of Web3 investments during several panel discussions.

On 4 September, during the “Navigating Investment in Web3, Tech, Narrative, or Fomo?” panel hosted by DFG,  Edward highlighted key investment trends, noting the success of the meme sector, BTCFi innovations, and promising areas such as SocialFi, AI, and DePIN.

“The meme sector has performed remarkably well in this cycle. Attracting funds through memes and subsequently launching utility-driven products is one of the strategic paths that ecosystem developers and project teams are pursuing this cycle.” Edward said, “BTCFi, based on the BTC ecosystem this year, is also one of HTX Ventures’ key areas of interest. As an innovation track in 2024, the BTC ecosystem is witnessing various innovations, and we anticipate even more developments in this field. SocialFi projects, AI, and DePIN are also sectors that we are closely monitoring.”

Speaking from a broader market perspective, Edward particularly mentioned BTC and ETH ETFs. “The entry of BTC and ETH into the ETF era is poised to significantly alter the dynamics of the cryptocurrency market, bringing in more investors and capital while also potentially introducing greater regulation and market manipulation.”

How HTX Ventures Helps Portfolio Companies

At the MKGA Summit, Edward expanded on HTX Ventures’ strategies for supporting its portfolio companies. HTX Ventures provides a full service for its portfolio companies, including: fundraising support, world-class mentorship, listing opportunities, strategic networking, and global market entry.

One example is BounceBit, a portfolio company that has benefited from HTX Ventures’ extensive resources. “We connected BounceBit with projects across our portfolio, extended their global outreach, and provided in-depth research reports and marketing support, including Twitter space collaborations and events,” Edward explained. “We believe in supporting innovative projects like BounceBit for the long run.”

There are certain things that HTX Ventures looks into when investing in a company, and one of the most important things is the product. Edward said, “HTX Ventures now focuses more on the product and the team itself. Through financial and resource support, HTX Ventures aims to help teams develop genuinely innovative products that serve a large number of crypto users, which is our long-term investment goal.”

Embracing AI in a Decentralized Manner

HTX Ventures is also at the forefront of integrating AI with blockchain technology. On 5 September, Zhao Lei represented HTX Ventures at the AI Crypto Summit’s panel discussion on “The Rise of Autonomous Agents in DeFi & CeFi”. She underscored the transformative potential of decentralized AI, which leverages blockchain for transparent decision-making and enhanced security.

“Our investment arm and exchange have supported several high-potential projects involving decentralized AI from early on. One example is Fetch.ai. Their platform runs AI agents that can conduct transactions and other economic activities,” she said.

Conclusion

The active participation in the plentiful activities showcased HTX Ventures’ and HTX DAO’s commitment to keep building the industry, as well as the great emphasis they put on the Korea and Asia markets.

As the global investment arm of HTX, HTX Ventures is actively seeking high-potential investment opportunities around the globe including key areas like Korea, offering investment and ecosystem support to help innovative startups in the region grow. By staying ahead of market trends and actively supporting innovative projects in key sectors, HTX Ventures is solidifying its position as a driving force in the global blockchain and AI landscape. With the side events, HTX Ventures built a stronger connection with the industry professionals and the local community, opening a new way for more collaboration opportunities.

About HTX Ventures

HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With more than a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.

HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active FOF (Fund of Funds) funds, HTX Ventures invests in 30 top global funds and collaborates with leading blockchain funds such as Polychain, Dragonfly, Bankless, Gitcoin, Figment, Nomad, Animoca, and Hack VC to jointly build a blockchain ecosystem. Visit us here.

Feel free to contact us for investment and collaboration at [email protected]

SOURCE HTX Ventures

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OSCEOLA, Ark., Sept. 11, 2024 — Hybar LLC, a company building a technologically advanced environmentally sustainable scrap metal recycling steel rebar mill in northeast Arkansas, announced today that Quanta Services, Inc. (NYSE: PWR) recently made a strategic equity investment in Hybar. Quanta Services joins Hybar’s existing high-profile group of equity investors, including TPG Rise Climate, the dedicated climate investing strategy of TPG’s global impact investing platform; Koch Minerals & Trading, a Koch subsidiary specializing in commodity trading and services; and Global Principal Partners, the investment entity used by Hybar’s senior management team.

Quanta Services is a leading specialized contracting services company that delivers infrastructure solutions for the utility, renewable energy, technology, communications, pipeline, and energy industries. Quanta’s services include designing, installing, repairing, and maintaining energy and communications infrastructure throughout the United States, Canada, Australia and select other international markets. “Quanta’s expertise in developing large-scale infrastructure and renewable energy projects lines up well with Hybar’s objective of producing the most environmentally sustainable steel rebar in North America,” said Dave Stickler, Hybar’s chief executive officer.

Hybar’s first steel rebar mill, which is expected to begin operations in less than a year, will be powered by an adjacent 105 MW solar field and battery storage facility and through a special rate contract entered into with Entergy Arkansas, LLC. The mill will produce a full complement of high-yielding steel rebar that will primarily be used in large infrastructure projects, including projects supported by the Infrastructure Investment and Jobs Act and the Inflation Reduction Act.

Quanta Services looks forward to collaborating with the Hybar management team and is excited to join Hybar’s high-quality group of equity investors as the company pursues its growth initiatives of building and operating a portfolio of energy efficient sustainable steel mills.  “Quanta’s investment in Hybar provides an attractive growth opportunity and supports our goal of ensuring domestic sustainable supply of materials for our projects at cost effective pricing in the market,” commented Redgie Probst, Quanta’s chief operating officer.

Mike Stone, Hybar’s chairman and partner at TPG, stated, “Adding a strategic investor like Quanta Services to the Hybar family is further validation that Hybar’s mill design and operating methods—which will drastically reduce greenhouse gas emissions in the steelmaking process—are highly sought after by many of the leading companies and investors across the energy space. As Hybar continues to explore the production and use of green hydrogen, and the substitution of its steel slag for cement in making concrete construction materials, we believe Hybar will benefit significantly from Quanta’s expertise in clean energy and construction.”

This press release shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.  

This press release may contain forward-looking statements, including, but not limited to, the expansion project and financing plans, including the offering of the bonds and equity financing. Forward-looking statements may generally be identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “will,” “believes,” “estimates,” “potential,” “target,” or “continue” and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. We undertake no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes, except as required by law.

SOURCE Hybar LLC

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World’s smallest projection display for AR smart glasses and automotive applications

VIENNA, Sept. 11, 2024 — TriLite, the developer of the world’s smallest projection display, has successfully completed an extended Series A funding round, raising its total Series A funding to more than €20 million. This round saw significant investments from two strategic investors – Continental’s Corporate Venture Capital Unit and an undisclosed global electronics supplier for TriLite’s Trixel® 3 projection display.

With their extensive industry knowledge, technical expertise and operational resources, the   strategic investors will further accelerate TriLite’s go-to-market success. Their involvement confirms TriLite’s commitment to advancing its footprint in both the augmented reality (AR) and automotive markets.

“TriLite has developed an outstanding display solution for AR applications and Continental places high value on TriLite’s innovative technology. Beyond consumer applications we see high potential in various automotive applications,” said Jürgen Bilo, Managing Director der Continental Corporate Venture Capital Unit.

Existing financial investors APEX Ventures, B&C Innovation Investments and TEC Ventures also participated in this round. Their long-term guidance and support have been pivotal in scaling TriLite’s operations and bringing its innovative technologies to market. Their continued confidence underscores the robustness of TriLite’s business strategy and technological advancements.

“TriLite has proven the function and the product-to-market fit of its Laser Beam Scanning (LBS) technology for high-volume consumer applications. With this latest funding and the expertise of our strategic investors, we will qualify and industrialize our LBS optical engine for consumer AR systems and automotive applications,” stated Dr. Peter Weigand, CEO of TriLite.

Weigand added, “Our shareholder base consists of world-class and globally leading companies and financial investors. Our technology and our business strategy are consistently being evaluated very positively by customers and investors. This latest investment will enable us to focus on mass production and further improve our leading intellectual property (IP) position.”

TriLite’s Trixel® 3 projector offers unprecedented image performance and brightness in an ultra-compact display, enabling original design manufacturers (ODMs) and original equipment manufacturers (OEMs) to develop consumer AR smart glasses and automotive driver information and passenger comfort applications.

About TriLite
TriLite designs and builds the world’s smallest projection displays and ensures that everyone can enjoy augmented vision as lightweight as the eyewear of today. TriLite’s display solutions are based on proprietary, multi-parameter algorithms and deploy advanced machine learning algorithms to generate laser beam scanning devices with unprecedented size, weight and image quality. An outstanding team of multidisciplinary researchers and manufacturing experts stands behind TriLite’s multiple-patented technology. TriLite enables its customers to accelerate the availability of leading-edge display solutions for mass market Augmented Reality applications.

See www.trilite-tech.com

About Continental
Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation. In 2023, Continental generated sales of €41.4 billion, and currently employs around 200,000 people in 56 countries and markets.

About Continental Corporate Venture Capital 
Continental’s Corporate Venture Capital (CVC) unit invests in young technology companies, giving startups direct access to Continental’s global mobility and industry expertise. The CVC unit focuses on early-stage companies that operate in Continental’s long-term, strategic growth areas. Founded in 2018, it aims to foster innovation rapidly and effectively in order to accelerate transformation across industries.

About APEX Ventures
APEX Ventures is a European venture capital firm focusing on deep tech companies. The team act not only as investors but also as company builders with a mission to support the most talented startup teams in building global market leaders. The team is based in Vienna and Munich. www.apex.ventures

About B&C Innovation Investments
The B&C Group invests in expanding technology-focused businesses that support ‘old economy’ industrial companies with digitalization and/or optimization. It makes these investments through B&C Innovation Investments GmbH (BCII, www.innovation-investments.at). By investing in industrial tech scale-ups – and through its majority holdings in AMAG, Lenzing and Semperit and its long-standing research funding activities – the B&C Group aims to strengthen Austria’s standing as a business location.

About TEC Ventures
TEC Ventures is the venture capital arm of the Goede Group, a family-owned corporation headquartered in Germany, focused on investments from the seed- to the early expansion phase. We invest in promising start-up teams with technical and innovative products and business models in strong growth or future markets, with the aim of building a market-leading company. We do not only support our portfolio companies with capital, but also with operational and strategic alignment and a broad network of companies, partners and experts from various specialist areas. www.tec-ventures.com

Photo: https://mma.prnewswire.com/media/2497711/Trixel_Projection_Display.jpg
Photo: https://mma.prnewswire.com/media/2497758/Trixel_3RGB_Module.jpg
Logo: https://mma.prnewswire.com/media/2497710/Trilite_Logo.jpg

SOURCE TriLite

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• On track for commercial-scale production of actinium-225, which is crucial to a new class of targeted treatments for cancer
• Largest Series A in life sciences sector in Belgium to date; led by EQT Life Sciences
• Total of EUR 134 million raised including funding secured through EUR 7.2 million equity from IBA and SFPIM, and EUR 33.8 million debt financing

STOCKHOLM, Sept. 11, 2024 — EQT Life Sciences is pleased to announce that it has led a EUR 93 million oversubscribed Series A fundraise in PanTera, the Belgian radioisotope producer. With additional equity and debt funding, the total amount raised is EUR 134 million. The round was also joined by Kurma Partners, Eurazeo, Korys, Paladin and PMV. Alongside this, IBA, the world leader in particle accelerator technology, and SFPIM, a Belgian sovereign fund, will convert into equity EUR 7.2 million convertible loans.

PanTera was founded in 2022 with the primary goal of enabling large-scale production of actinium-225 (225Ac), which is crucial to enable a new class of targeted cancer treatments known as Targeted Alpha Therapy. The funds raised will be used primarily to support the construction of a state-of-the-art production facility in Belgium.

Targeted Alpha Therapy is a promising new cancer treatment approach that enables safe and effective delivery of radiation to the cancer cells by radioisotopes that emit highly energetic alpha particles. The radiation effect of the alpha particle is more localized compared to other approaches and as such can destroy the cancer cells to which it is attached without harming surrounding healthy tissue. The most promising alpha emitter for this approach is 225Ac. As a result, demand for 225Ac is increasing rapidly as drug-development companies look to scale-up clinical trials across a range of different cancers and seek regulatory approvals. However, dependable, scalable and sustainable methods for producing 225Ac are complex and require advanced nuclear infrastructure, which has resulted in a global shortage of the isotope.

PanTera is working to solve this global shortage. The Company’s unique, patented photo-nuclear “gamma” production process transforms Radium-226 (226Ra) into Radium-225 (225Ra), which in turn decays into 225Ac. This process provides a reliable, safe and high-quality supply of 225Ac, not only for clinical trials but also for future commercial radiopharmaceutical therapies, the first of which are due to be on the market in 2028-2029. PanTera’s process and infrastructure is designed to enable the annual production of more than 100 Curies (Ci) of clinical grade 225Ac by 2029, allowing treatment of more than 100,000 patients per year. The combination of SCK CEN’s unmatched large stock of pure 226Ra and IBA’s Rhodotron^® electron accelerator, positions PanTera to become a highly successful and reliable producer of this key medical radioisotope.

In parallel to its effort to develop commercial-scale production of 225Ac, PanTera is already providing early 225Ac supply through an alternative production method. Working in collaboration with TerraPower Isotopes, PanTera is on track to provide 1.5-2 Ci of 225Ac annually from early 2025. With today’s current global supply estimated at 3 Ci annually, this will be a significant contribution to drug development. PanTera has signed supply agreements with several pharmaceutical companies, including Bayer, and expects to have secured agreements for more than 80% of its capacity before starting production.

Sven Van den Berghe, CEO of PanTera, said: “PanTera is looking to radically improve supply in the short and long term, in order to ensure that this potentially life-saving, highly innovative modality can reach patients. The size of this raise is testament to our strategy, our unique assets and our capabilities. We are working alongside very experienced partners with a combined expertise and a network that goes well beyond 225Ac production and encompasses all aspects of the radiopharmaceutical revolution. With this funding, we are now en route to realise our vision of providing a “Better Fight for Life” to cancer patients worldwide by becoming a dependable global 225Ac supplier.”

Martijn Kleijwegt, Partner at EQT Life Sciences, commented: “It is clear to us that PanTera has the expertise, assets and strategy in place to address the critical actinium-225 supply shortage faced by the pharmaceutical industry today, as well as the significant increase in demand expected in the future. EQT is one of the world’s largest healthcare investors and we are committed to supporting pioneering ventures, like PanTera, to reach their fullest potential. We are excited to partner with the PanTera team, alongside IBA, SCK CEN and our fellow investors, on the next phase of PanTera’s development.”

Contact
EQT Press Office, [email protected] 

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

https://news.cision.com/eqt/r/eqt-life-sciences-leads-eur-93-million-oversubscribed-series-a-round-in-pantera–which-aims-to-accel,c4035711

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NEW YORK, Sept. 10, 2024 — Protege announced a $10 million seed round and the launch of its AI training data platform to help resolve one of the biggest issues in AI development — sharing and accessing the right training data. The round was led by CRV with participation from SV Angel, Liquid 2 Ventures, Bloomberg Beta, Flex Capital, Adam D’Angelo, Travis May, and more.

“The lack of availability of training data is the biggest bottleneck in AI today,” said Bobby Samuels, CEO and Co-Founder of Protege. “By creating a platform for data holders to allow controlled access to their data assets, we enable the construction of critical models in a faster and safer way.”

The exchange of training data today can require months, if not years, of negotiation and friction, as different parties navigate complex intellectual property, technological, and governance concerns, often for the first time. Protege equips data holders with the resources to make their data available for AI use cases safely and painlessly and enables model builders to find and access the data they need, with confidence that the data is sourced responsibly.

Protege was founded earlier in 2024 by Samuels and Travis May, CEO of Shaper Capital and co-founder and former CEO of LiveRamp and Datavant.

Protege focuses on types of data that are especially impactful for AI, much of which has never been made available for external use and is proprietary to data owners rather than in the public domain. Protege’s vision expands beyond any one industry, given the training data bottleneck exists across the spectrum of AI.

“I believe this is one of the biggest data opportunities of all time,” said May. “Five years ago, there was no market for training data. Today, every major LLM and thousands of novel AI applications are looking for training data – but there is too much friction in this process. Unlocking seamless and controlled exchange of training data will help unleash the power and benefits of AI to the world.”

“The training data opportunity is one of the largest I’ve seen in my career,” said Saar Gur, General Partner at CRV. “We’re incredibly excited to partner with the Protege team in pursuing this massive vision.”

About Protege
Protege is the platform for AI training data, enabling seamless and compliant data exchange. By empowering data holders and connecting them with AI developers, Protege supports the creation of thoughtful AI solutions. Learn more at www.withprotege.ai.

SOURCE Protege

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Investment Creates Opportunity to Transform Credit Union & Wealth Advisor Offerings

DOYLESTOWN, Pa., Sept. 10, 2024 — Powerlytics, the only data and predictive analytics provider that offers a complete tax return picture for every U.S. household and business has announced the completion of its latest funding round led by Curql Collective, a collaborative ecosystem of progressive credit unions that offers entities innovative and transformative technology. Other companies that were part of the 2024 fundraising round include Tribeca Early Stage Partners and existing investor Brewer Lane Ventures.

With these new investments, Powerlytics will advance its product offerings and scale sales and marketing efforts to help financial services companies drive growth and optimize risk management. “Curql’s investment in Powerlytics enables the company to have a unique strategic advantage that brings relevancy and a competitive edge to the CU tech stack,” said Nick Evans, President and CEO of Curql.

Kevin Sheetz, CEO and Co-Founder of Powerlytics, said, “We are excited to partner with Curql Collective and Tribeca Early-Stage Ventures and welcome Elizabeth Craven, Principal at Curl Fund and John McEvoy, Managing Partner at Tribeca Early-Stage Ventures to our board. Powerlytics solutions have helped some of the largest banks and wealth firms in the U.S. and we are eager to leverage our suite of solutions to help credit unions succeed while further expanding our relationships in the broader financial services sector.”

Powerlytics’ current customer base includes top banks, alternative lenders and wealth management firms as well as leading partners who serve the bank, credit union and wealth sectors. The strategic partnership with Curql Collective enables Powerlytics to further scale its offerings for the credit union sector. “Curql credit unions have made it a priority to invest in fintech that brings relevancy and a competitive edge to the CU tech stack,” said Nick Evens, President and CEO of Curql. “Powerlytics is solving another piece of the puzzle with their frictionless income verification and detailed financial data.”

John McEvoy added “Powerlytics data set is unparalleled in its breadth and ability for financial institutions to glean important insights to their clients. Tribeca ESP is excited to join the investor group and leverage our expertise and network to add value to the Powerlytics team.”

About Powerlytics

Powerlytics is a proprietary data platform offering a complete financial picture of all US households and businesses underpinned by their tax returns from the past 20 years. Financial services companies leverage these data assets to improve marketing and risk decisioning through frictionless income estimation and verification, insights into household deposits and investable assets and to accurately estimate small business revenue. Additionally, Powerlytics’ thousands of consumer and business financial data variables power a range of machine learning and AI models that optimize prospect targeting, lifecycle marketing, loan performance and collections, among other areas. For more information, visit www.Powerlytics.com.

Contact: Joanne Lasky, (215) 375-7675, [email protected]

SOURCE Powerlytics Inc

NORWALK, Conn., Sept. 10, 2024 — LifeSpan Vision Ventures today announced that it has closed an investment in Remedium Bio.  

The biotechnology company is developing a first-in-class adjustable-dose gene therapy platform called Prometheus™, which can replace a broad range of multi-protein injection treatments with a single injection, dose adjustable, gene therapy. The treatment, which is administered by a subcutaneous injection, is highly safe, localized, durable, and costs less than many protein-based therapeutics. Unlike with therapeutic protein injections, Prometheus™ delivers stable, durable, and consistent protein expression, eliminating the concentration spikes that can limit the safety and efficacy of treatments delivered via repeat injection.

The funding will be used to advance the company’s lead candidate, RMD-1202, towards Phase 1 studies. RMD-1202 delivers a GLP-1 receptor agonist and demonstrates weight loss, glycemic control, and insulin response superior to daily GLP-1 protein injections – with a potentially increased safety and tolerability profile. The platform can deliver a broad range of proteins, from peptides to antibodies and Remedium is developing additional therapies across musculoskeletal, immunology, and neurology disorders.  

Andrew Worden, Founding Partner at LifeSpan Vision Ventures, said “Our mission is to invest in companies that support and accelerate the development of therapies that extend healthspan and address age-related challenges. We believe that Remedium’s technology can be applied across a broad range of age-related diseases and opens the potential of gene therapy to vast markets. We are delighted to be supporting Frank and his team to take the company to the next level.”

Frank Luppino, President and CEO of Remedium, stated “We are extremely excited to welcome Lifespan Vision Ventures as an investor in Remedium Bio. Our Prometheus™ platform is a significant advance in genetic medicine, one that brings the benefits of gene therapy to large unmet needs affecting how we age. Lifespan, with their strong grounding in the science and experience growing innovative companies, is an ideal partner to support Remedium as we enter an exciting new phase in our evolution.”

About Remedium Bio

Remedium is a biotechnology company focused on the development of treatments for large unmet clinical needs. To enable this, we developed a revolutionary gene therapy platform, which enables safe, effective, and durable delivery of therapeutic genes while allowing for simple post-treatment dose adjustment. The Prometheus™ adjustable gene therapy platform enables replacement of a broad range of subcutaneously administered protein treatments with a single injection, adjustable dose gene therapy. The system has an exceptionally high degree of specificity and remains localized to the site of the subcutaneous injection, offering a safe and durable, single injection alternative, at a fraction of the current protein-based therapeutic treatment cost. Remedium’s pipeline includes several disease modifying treatments with unprecedented efficacy in the fields of endocrinology (weight loss and type 2 diabetes), immunology, neurology, and musculoskeletal diseases.

For more information, visit https://www.remedium-bio.com/

About LifeSpan Vision Ventures

LifeSpan Vision Ventures is a forward-thinking venture capital firm specializing in investments within the aging and longevity space. Our mission is to support and accelerate the development of innovative therapies that extend healthspan, improve the quality of life for individuals as they age, and address age-related challenges. Through strategic partnerships and investments, we aim to shape a future where aging is met with vitality, resilience, and endless possibilities.

Contact: Harry Robb, Analyst: [email protected]

SOURCE LifeSpan Vision Ventures

The Eclipse-led round marks a significant milestone in the journey to bring scalable quantum computing to the market  

TEL AVIV, Israel, Sept. 10, 2024 — Quantum Source, an Israel-based company developing, technology for powerful, cost-effective, practical photonic quantum computers, announced today it has raised a $50M Series A investment round led by Eclipse, with participation from Standard Investments, Level VC, Canon Equity, as well as existing investors Pitango First, Grove Ventures, 10D, and Dell Technologies Capital. This brings the company’s total funding raised to over $77M. The capital will be used to enhance engineering capabilities and accelerate the commercialization of quantum solutions.

Quantum computing is a fundamental paradigm shift in computing, with the potential to dramatically accelerate technological advancements in drug design, material development, cybersecurity, and more. Large-scale, fault-tolerant quantum computers, with millions of qubits, are critical to unlocking the potential of quantum computing but have yet to reach commercial viability. Photonic quantum computing technology offers the best route to commercialization, however, the biggest obstacle has been the massive inefficiency in creating entangled photonic states, a challenge that Quantum Source addresses.

Quantum Source was founded in 2021 by semiconductor industry veterans and serial entrepreneurs Oded Melamed, Gil Semo, and Dan Charash, and Professor Barak Dayan, a world-leading scientist in the field of quantum optics, who saw an opportunity to solve one of the biggest challenges of photonic quantum computing. The team has taken a novel approach that harnesses single atoms trapped on a proprietary photonic chip to allow deterministic photon generation and entanglement. This results in four orders of magnitude better efficiency compared to other implementations, making the Quantum Source system substantially more scalable, compact, and simpler to control.

“This round is a vote of confidence in our approach to making scalable, useful quantum computing a reality, and a testament to the broader opportunity in quantum computing,” said Oded Melamed, Co-Founder and CEO of Quantum Source. “Our game-changing approach, which combines photonic and atomic qubits, will propel quantum computing further toward commercialization, by making large-scale, fault-tolerant quantum computers available to corporations at a practical cost.”

With 45 employees, more than half of whom hold PhDs, Quantum Source is uniquely positioned to accelerate growth and innovation in the photonic computing industry. Last year, the company announced a $12M seed extension led by Dell Technologies Capital and welcomed Former Israeli Prime Minister Naftali Bennett to its Board of Directors, providing extensive tech leadership experience that is instrumental in driving Quantum Source’s mission.

“Eclipse’s investment in Quantum Source underscores our commitment to a future where quantum computing transforms what’s possible,” said Seth Winterroth, Partner at Eclipse. “With a team of visionary entrepreneurs and leading quantum physicists, Quantum Source is poised to lead a computing revolution that will reshape industries and redefine our future entirely.”

“Public, private and government sectors have made significant investments into the quantum industry, underscoring the impact quantum computing can have on shaping our future,” said Former Israeli Prime Minister and Quantum Source Board Member, Naftali Bennett. “Quantum Source is at the forefront of this revolution and I believe they will be the team to unlock the promise of quantum computing to transform critical industries.”

About Quantum Source

Quantum Source (QS), located in Nes-Ziona Israel, is developing breakthrough technology to enable a commercially viable, fault-tolerant photonic quantum computer with millions of qubits. The company was established in 2021. For more information, please visit: http://www.qs-labs.com/

SOURCE Quantum Source

BOSTON, Sept. 10, 2024 — Smartcat, the enterprise language AI platform, today announced $43 million in Series C funding to accelerate its expansion. Smartcat’s simple, intuitive platform uses AI to translate and create content for global enterprises, realizing significant ROI savings over traditional solutions. The round was led by Left Lane Capital. The financing will support the growing demand for Smartcat’s AI-based translation and multilingual content generation solutions.

“Smartcat is known for bringing AI innovations to the enterprise in both translation and content creation. This new funding recognizes our success to date and will help accelerate our current and future AI offerings for global teams” said Founder and CEO Ivan Smolnikov, who has two decades of experience in enterprise language tech and AI, and is building a second successful company in this space. “We are grateful to Left Lane and our existing investors who continue to support our mission to be the comprehensive enterprise language AI solution for global teams, offering dozens of use cases across multiple departments.”

Vinny Pujji, Managing Partner at Left Lane Capital, added, “Smartcat’s leadership team has a solid track record of serving the enterprise translation market with a unique AI solution. As an early market mover, the company has a broad portfolio of customers and is uniquely positioned to compound the depth and quality of their product offering, continuing to lock-in competitive advantages over time.”

Among its dozens of corporate use cases, including for learning & development, marketing, and product, Smartcat has recently released a full-cycle, multilingual AI video translation and dubbing solution for its over 1,000 enterprise customers including over 20% of the Fortune 500.

Smartcat also launched its first-in-class AI solution for the creation of learning content. Learning & Development teams can now create all of the learning content they need in any language including full courses, microlearnings, videos, quizzes, and AI video avatars. Smartcat’s global enterprise clients have been quick to adopt this solution, allowing them to meet the ever-growing demand for learning content without the need for additional resources. 

“Smartcat’s high quality AI translation, collaborative workflows, and proprietary network of human editors has transformed our global operations by delivering superior translated content in hours instead of months and for a fraction of the cost compared to our previously outsourced solution,” said Mark Stauffer, Senior Learning & Development Manager for Brink’s. “Smartcat’s ease of use means any corporate team member can adopt it and quickly realize its benefits in a matter of days. Beyond translation, Smartcat’s AI for learning content has streamlined the course creation process allowing us to develop full courses and microlearnings in minutes, using natural language inputs. It’s groundbreaking.”

Smartcat’s AI continuously learns from your team and ever-expanding enterprise corpora to improve quality. With an unlimited seat model for global collaboration, Smartcat is one of the most effective solutions delivering outsized ROI for clients. Global teams can also use Smartcat AI to source editors through its proprietary, automated worldwide expert network of over 500,000 to help with content review when there are capacity constraints.

Clients continue to see outstanding results in terms of quality, turnaround time, and cost as it relates to AI multilingual content generation and AI translation. Many report creating 10 times more multilingual content with the same budget and in a fraction of the time. This in turn accelerates their global operations across the enterprise including sales, marketing and learning & development.

ABOUT SMARTCAT
Smartcat is the enterprise language AI platform. The cloud-based solution has over 100 use cases for all kinds of teams, including learning & development, marketing, localization, product, and ecommerce. Smartcat’s client-tailored language AI translates any content into any language (over 280) and allows global teams to generate new content from existing corporate materials, making global operations simple for corporate teams. More than 1,000 global enterprises, including 20% of the Fortune 500, trust Smartcat to communicate all over the world.

To learn more about Smartcat and its AI solutions, visit www.smartcat.com.

ABOUT LEFT LANE CAPITAL
Founded in 2019, Left Lane Capital is a New York and London-based global venture capital and growth equity firm investing in internet and technology companies with a consumer orientation. Left Lane’s mission is to partner with extraordinary entrepreneurs who create category-defining companies across growth sectors of the economy, including software, healthcare, e-commerce, consumer, fintech, medtech, and other industries. Select investments include Kings League, LOVB, Bilt Rewards, Blank Street, M1 Finance, Wayflyer, Masterworks, Talkiatry, Kittl, and more.

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

SOURCE Smartcat

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