SEOUL, South Korea, June 12, 2024 — Floatic, a warehouse robotic solutions provider, today announced that it has secured $3.8 million from the latest fundraising round. This pre-Series A bridge round, led by Capstone Partners, included Quantum Ventures Korea, Bluepoint, BNK Venture Investment, and BSK Investment.
This additional investment brings the total raise to $8 million. Floatic attracted seed investments from South Korean tech giant Naver Corp.’s D2SF and Kakao Corp.’s Kakao Ventures shortly after its establishment in 2021. It then closed a $2.5 million pre-Series A round in 2022.
The company intends to use the funds to expand its R&D and further develop its solution, which is ready to be commercialized this year.
Floatic develops and provides a robotic solution, Floware, for e-commerce warehouse automation. Floware efficiently streamlines the picking process, which takes up the most time in warehouse centers. It enables a total solution from integration, deployment, and operation within less than six weeks, with minimal infrastructure and investment costs. The solution also enhances productivity by up to 3.5 times compared to manual picking.
Floware consists of autonomous mobile robots (AMR) designed specifically for the warehouse environment and a management platform tailored to optimizing warehouse workflow. The solution includes intuitive features such as the ‘Picking Guide’ and a modularized software algorithm that enables flexible operation and real-time management.
“Warehouses have diverse variables daily, making it difficult to provide the necessary solutions without a proper understanding of the site,” said Chan Lee, CEO of Floatic. “We have been focusing on the user voices and developed the product based on this from the very beginning, which makes a crucial difference in the solution.”
The company has been conducting on-site field tests with 3PL companies and local warehouses, and collaborating with leading logistics partners in Korea such as POSCO DX and LogisALL. It intends to make a full commercialization in the second half of this year.
“We will continue to invest in developing and creating the feasible robotic solutions needed to establish the most efficient warehouse environment, thoroughly focusing on the market from a user-centric perspective,” Lee added. “This fundraising will be a powerful engine to achieve this goal, and we are grateful to our investors for supporting us.”
SAN CARLOS, Calif., June 12, 2024 — Swift Solar, a pioneering American solar technology company, today announced the close of its $27 million Series A financing round. This milestone is a major step forward for U.S. manufacturing of advanced perovskite solar technology.
The round was co-led by Eni Next and Fontinalis Partners. Eni Next, the corporate venture capital arm of Eni, invests in high-growth start-ups with the most innovative, disruptive, and scalable technologies to accelerate the energy transition toward a zero-carbon future. Fontinalis Partners is a mobility and deeptech VC firm that invests in early-stage companies enabling efficient and sustainable movement of all forms. Also joining the round are new and existing investors including Stanford University, Good Growth Capital, BlueScopeX, HL Ventures, Toba Capital, Sid Sijbrandij, James Fickel, Adam Winkel, Fred Ehrsam, Jonathan Lin, and Climate Capital.
In total, Swift Solar has raised $44 million for its mission to transform the solar energy landscape with perovskite tandem solar products that offer superior performance. Proceeds from this round will accelerate Swift Solar’s scaling of efficient and stable tandem technology as the company prepares to break ground on its first factory.
“Solar is the future of energy—not just clean energy,” said Joel Jean, co-founder and CEO of Swift Solar. “Our advanced perovskite solar cells can outperform anything currently available on the market. People may not realize that solar manufacturing today is concentrated in China and Southeast Asia. Swift Solar will bring advanced solar manufacturing back to the U.S. and strengthen our domestic renewable energy sector. This is an unprecedented opportunity to reshape the global solar industry. With this round, we’re excited to partner with world-class deeptech and strategic investors to take Swift to the next level.”
The solar industry is increasingly regarding perovskites as a groundbreaking PV technology. Swift Solar’s perovskite tandem technology promises to drastically outperform today’s silicon and thin-film technologies at lower cost. Perovskite solar cell production involves less material and less energy, which will drive down manufacturing costs and carbon pollution. The perovskite supply chain could be based entirely in the United States and aligned countries, creating a major opportunity to expand domestic manufacturing. The performance gains and cost reductions from perovskite technology have the potential to decrease the cost of solar energy by up to 30%. Taken together, Swift Solar’s technology would make solar energy far more accessible for the average household or business and make the United States more competitive in the global clean energy market.
The improvements in efficiency and durability enabled by Swift Solar’s perovskite technology would transform traditional solar markets while creating new possibilities for solar integration. Electric vehicles, for example, could gain 15 miles of range or more per day with perovskite solar roofs. Satellites could benefit from a 10x cost reduction and improved radiation tolerance for solar arrays. The company is actively testing its perovskite technology in space.
Swift Solar’s efforts to establish the United States as a force in advanced solar manufacturing have attracted over $16 million in federal and state grants from the U.S. Department of Energy, Department of Defense, National Science Foundation, and the California Energy Commission. The company’s growing list of investors reflects rising confidence in perovskite solar. With this Series A funding, Swift Solar is primed to lead in developing this next-generation technology and building a more sustainable future, powered by clean energy.
About Swift Solar Swift Solar is a leading U.S. solar technology company developing advanced perovskite photovoltaics. Founded in 2017 by a global team of leading solar technologists, the company is a spinout of MIT, Stanford University, and the National Renewable Energy Laboratory (NREL). Swift Solar aims to build a better future by stopping climate change and revitalizing domestic manufacturing. For more information, visit www.swiftsolar.com and follow Swift Solar on X and LinkedIn.
Led by Innovation Endeavors, seed round investors include DCVC, Amplo, BoxGroup and Lightning Capital; Energy market also welcomes new regulatory board members and advisors
CHICAGO, June 12, 2024 — ElectronX, a new energy exchange created to help accelerate the U.S. grid transition to renewable sources, today announced it has raised a $15 million seed investment round led by Innovation Endeavors.
ElectronX is building a robust and modern power market for the clean energy transition, smoothing the financial path of renewables adoption for power providers, consumers and industry innovators that currently face volatile short-term price exposure to electricity.
When approved by the U.S. Commodity Futures and Trading Commission (CFTC) to operate as a regulated derivatives exchange, ElectronX will offer granular derivatives products, featuring fully collateralized and centrally cleared contracts, that allow electricity market participants of all sizes to hedge risk and monetize power assets on a highly accessible platform.
Additional seed round investors in ElectronX include firms DCVC, Amplo, BoxGroup and Lightning Capital, as well as individuals across the trading and power industries. The company has also appointed a number of respected industry leaders to its regulatory and advisory boards, detailed below.
“As more renewable energy sources like wind and solar power are added to the U.S. grid, their intermittent nature—coupled with the country’s rapidly increasing demand for electricity—has resulted in a volatile intraday pricing environment, especially during adverse weather events in high-population areas like Texas and California,” said Sam Tegel, CEO of ElectronX. “Our products will help manage this short-term price risk for a number of industry sectors including energy generation and storage companies, high-volume power consumers, and the growing number of small businesses and households with renewable assets that can benefit from the monetization of their investments in clean energy. We are pleased to partner with respected investors focused on innovative climate solutions who will help bring the ElectronX market to life.”
Sam Smith-Eppsteiner, partner at Innovation Endeavors, commented, “ElectronX is both capitalizing on and enabling a generational shift in the energy mix toward intermittent and decentralized renewable assets. By developing novel market infrastructure and financial products, ElectronX will offer significantly more granularity in trading electricity derivatives. This granularity will allow customers to manage risk more precisely, which is likely to drive improved return profiles and even accelerate the rollout of clean energy assets. We expect ElectronX to play a critical financial infrastructure role in the energy transition and are thrilled to partner with Sam and the rest of the experienced leadership team.”
Regulatory Board Members and Corporate Advisors
ElectronX also announced today its accomplished roster of regulatory board members and corporate advisors, who will work with the exchange to oversee and regulate its innovative marketplace.
“Our team will benefit immensely from the expertise and guidance of these respected veterans in the regulated markets and energy industries,” said Sam Tegel. “Our new board members join Eric Noll, who has advised us since last year, and I look forward to working with them all as we pursue CFTC approvals and continue developing our platform and regulatory structures.”
ElectronX’s Designated Contract Market (DCM) and Designated Clearing Organization (DCO) board members include:
Eric Noll, Chair of Board of Governors at Financial Industry Regulatory Authority (FINRA) and CEO, Stone Ridge Capital Partners; formerly President & CEO at Covergex; EVP at Nasdaq; and various roles at Susquehanna International Group
Anita Herrera, General Counsel Emerita at Nodal Exchange; formerly General Counsel, Chief Regulatory Officer & Corporate Secretary at Nodal Exchange and Nodal Clear
Rick Redding, CEO at Index Industry Association; formerly Managing Director, CME Group
Kim Taylor, Former President of Global Operations, Technology & Risk at CME Group; formerly President, CME Clearing
Scot Warren, Former COO at Options Clearing Corporation (OCC); formerly Senior Managing Director, CME Group
ElectronX corporate advisors include:
Neil Chatterjee, Former Chairman and Commissioner, Federal Energy Regulatory Commission (FERC)
Ben Rogers, Chief Development Officer at Electrada
John Seo, Co-Founder & Managing Director at Fermat Capital Management; Chair of the Advisory Committee on Risk-Sharing Mechanisms (ACRSM) and Member of the Federal Advisory Committee on Insurance (FACI), U.S. Department of the Treasury
Marcie Zlotnik, Board Member, NRG Energy; formerly Board Member, Just Energy and Crius Energy Trust; and Co-Founder, COO and Board Chairman, StarTex Power
ElectronX corporate board members include Evan Caron, Philip Krim, David Silbert, Sam Smith-Eppsteiner and Sam Tegel.
About ElectronX
ElectronX is the electricity exchange for the energy transition, providing power market participants with innovative trading products to manage price risk against short-term volatility. With offices in Chicago and New York, ElectronX is building the U.S.-regulated financial infrastructure necessary to support increased investment in clean energy development. For more information, please visit www.electronx.com.
About Innovation Endeavors
Innovation Endeavors is an early-stage venture capital firm that invests in cutting-edge technologies to drive generational change in order to solve problems that matter. The firm’s central investment thesis, the Super Evolution, combines data, computational capacity, and advanced engineering to transform a range of industries including engineering health, climate, computing infrastructure, intelligent software, the physical economy, and more. Its investments include Afresh, AlphaSense, Atom Computing, Color, Gatik, Eikon Therapeutics, Fabric, Homelight, Kong, Formlabs, Panther, Planet, Replica, SoFi, Uber, Upstart, Vicarious Surgical, and more. For more information, visit www.InnovationEndeavors.com.
Led by Cortes Capital, LLC, Sorenson Communications, LLC., SMK (Japan), and Hackensack Meridian Health, Series A funding expands the AI-driven capabilities of the groundbreaking vocal biomarker health tech company
PROVO, Utah, June 12, 2024 — Canary Speech, Inc. (Canary), the leading AI-powered voice biomarker health tech company, has secured a $13 million Series A funding round led by Cortes Capital, LLC (Love’s Private Equity), with participation from Sorenson Communications, LLC., SMK (Japan), and Hackensack Meridian Health.
With robust patent positioning, Canary is at the forefront of the industry with nine issued patents protecting the use of vocal biomarkers in healthcare. Canary aims to expand its team to support the accelerating growth driven by advancements in artificial intelligence and the healthcare industry’s demand for more advanced tools.
As an API-first company, Canary’s vocal biomarker technology has a wide range of applications within the healthcare industry. These applications include contact centers, ambient clinical listening, remote patient monitoring, and annual wellness checks. Ambient listening tools, which are systems designed to unobtrusively capture and analyze conversations in real-time, enable healthcare providers to focus on patient interactions while automatically documenting clinical notes.
“There are technologies that truly disrupt the way healthcare is administered, and Canary is committed to pioneering vocal biomarkers and ambient listening for the betterment of healthcare,” said Henry O’Connell, co-founder and CEO of Canary Speech.
According to Healthcare IT Today, as many as 85 percent of physicians may adopt ambient listening tools. Canary’s vocal biomarker technology enhances these tools by adding real-time screening for behavioral and cognitive conditions, providing clinicians with critical additional data that was previously unavailable. Through an extensive network of partnerships, both with telehealth organizations and health systems, Canary is poised to rapidly scale its cloud-based data processing capabilities.
“We couldn’t be more excited to support Canary Speech’s mission to drive change in the healthcare industry with their scalable technology and best-in-class team,” said Ryan Tidwell, Chief Investment Officer at Cortes Capital.
The American Medical Association (AMA) reports that at the end of 2021, nearly 63 percent of physicians experienced symptoms of burnout, an increase from 38 percent in 2020. Through ambient listening, Canary can assess patients’ health and simultaneously evaluate physicians’ health, allowing healthcare systems to proactively support their care teams.
About Canary Speech
Canary Speech is the leading AI-powered voice biomarker health tech company that uses real-time patented vocal analysis to screen for mental health and neurological disorders. Canary’s vocal biomarker technology captures and analyzes speech data within seconds to identify irregularities in behavioral and cognitive changes before current clinical screening standards or noticeable symptoms for invisible illnesses like anxiety, depression and dementia. Canary Speech is a Utah-based company that advances speech and language applications for health systems, payers and pharmaceutical markets.
SAN DIEGO, June 12, 2024 — Alida Biosciences (AlidaBio), an innovator in epigenomic research tools, proudly announces the successful completion of a $7.5 million Series A funding round. This funding, led by Genoa Ventures with participation from FusionX Ventures and Vertical Venture Partners, is complemented by two ongoing SBIR grants totaling $4 million from The National Human Genome Research Institute (NHGRI). Additionally, AlidaBio unveils the Early Access launch of two products: the EpiPlex™ RNA Library Prep Kit and the EpiScout™ Analysis Suite. These products provide a comprehensive solution for multiplexed epitranscriptomic analysis of input-limited clinical research RNA samples, offering unprecedented sensitivity and accuracy.
Innovative Solutions for Pioneering Research
EpiPlex RNA Library Prep Kit is designed to revolutionize epitranscriptomic research by enabling unprecedented multiplexed detection of RNA modifications. This kit integrates a streamlined assay workflow with an intuitive bioinformatics platform, facilitating high-sensitivity analysis of RNA modifications. The epitranscriptome, consisting of a diverse array of naturally occurring RNA modifications, plays a crucial role in regulating RNA biology, including RNA-protein interactions, splicing, three-dimensional RNA structure, transcript stability, intracellular trafficking, and translation.
Traditional methods, relying on antibody-based and chemical approaches, are limited to detecting a single type of modification per assay and require high input amounts of RNA. The EpiPlex kit overcomes these limitations by using non-antibody binders (NABs), which exhibit high affinity and minimal off-target binding. This results in superior reproducibility, sensitivity, and accuracy, even with low RNA inputs. The early access launch of these products is aligned with the completion of several beta customer experiences, with customers expressing high satisfaction with the improved workflow and exceptional data quality.
“The AlidaBio EpiPlex Library Prep Kit proved to have several advantages over alternative methods,” said beta customer Dr. Daniel Kupers of Fred Hutchinson Cancer Research Center. “We observed ease-of-use going from input RNA to sequence-ready libraries all in one kit, time savings and usability for situations with limited amounts of RNA, and lower background than other methods. The inclusion of bioinformatics analysis with EpiScout is also a plus, as high-quality calls are challenges with other methods.”
EpiScout Analysis Suite complements the EpiPlex kit by providing an intuitive bioinformatics platform for analyzing and visualizing complex epitranscriptomic data. This suite streamlines data interpretation and offers powerful tools for researchers to explore the multifaceted landscape of RNA modifications and multiomic integration of data sets.
Clinical Relevance and Applications
The EpiPlex kit is particularly suited for profiling multiple RNA modifications in clinical research samples where RNA input is limited. Typically, tissue samples, clinical biopsies, and other native biological materials provide small quantities of total RNA, with mRNA constituting only 1-3% of this total. The EpiPlex kit’s high sensitivity and efficiency make it ideal for these scenarios, ensuring high-quality results from even the smallest RNA samples. This efficiency, driven by the NABs’ high affinity and specificity, ensures high-quality modification site calling without increasing sequencing depth requirements.
Series A Funding: A Milestone Achievement
The successful Series A funding for AlidaBio underscores investor confidence in the innovative approach. This funding will facilitate faster and enhanced product development, as well as a focused effort to bring the EpiPlex kit into customers’ hands, maximizing its impact in the field. “Securing this Series A funding is a testament to the groundbreaking potential of our technology,” said Dr. Gudrun Stengel, CEO of AlidaBio. “We are excited to introduce the EpiPlex RNA Library Prep Kit and the EpiScout Analysis Suite, and to accelerate our technology development in the multiplexed RNA modification detection space. The strong support from our investors reflects our shared enthusiasm in building research tools needed to uncover new insights into RNA biology and advance the field of epitranscriptomics.”
The funding recognizes both the potential and immediate impact of AlidaBio’s solutions. “AlidaBio has created a technical yet elegant solution to uncover hidden regulatory information on RNA, scalable with current NGS technology,” said Landon Merrill, principal at Genoa Ventures. “With this technology and Dr. Stengel’s talented team, AlidaBio is poised to lead the mainstream adoption of epitranscriptomics by the genomics customer base.”
About AlidaBio
AlidaBio, founded in 2020, is revolutionizing the field of epigenomics by commercializing accessible tools that broaden the application of epitranscriptomics in life sciences. Our groundbreaking products empower researchers to concurrently analyze multiple RNA modifications with relative quantification, using RNA inputs suitable for clinically relevant samples and supported by user-friendly bioinformatics.
For more information about the EpiPlex RNA Reagent Kit, the EpiScout Analysis Suite, and other future products, please visit our website at www.alidabio.com or contact:
Archer has raised capital from real estate firms and PropTech investors, their most recent round led by Portland Seed Fund with a strategic investment from Marcus & Millichap.
SAN FRANCISCO, June 11, 2024 — In a volatile real estate capital market’s industry where employees are overworked and employers are understaffed, Archer, a data-driven real estate tech firm, announced today that it has provided new tools in its multifamily technology platform to significantly enhancing deal sourcing, automating analysis, and team collaboration for commercial real estate professionals. The new tools allow investors, brokers, and lenders to make smarter deal decisions informed by predictive analytics.
Archer has raised capital from real estate firms and PropTech investors, their most recent round led by Portland Seed Fund with a strategic investment from Marcus & Millichap.
Highlights of the new tools:
Deal Pipeline Manager: Investment sales brokers, lenders, asset managers, property managers and the entire data analysis team gain unprecedented control and visibility over the entire deal flow. Customize deal stages to match the user’s unique process, seamlessly collaborate with the team, and eliminate manual data entry with automatic updates directly from the user’s underwriting models.
Private Data Cloud: Archer’s platform automatically captures and structures critical information from every deal analysis directly from our smart integration into our users’ Excel model. The secure data cloud offers easy search, effortless comparisons, and the ability to identify trends that were previously invisible.
Interactive Deal Analytics: Professionals can analyze the entire underwriting history, compare key metrics across past deals, and centralize property files for quick reference.
“In the craziest, most volatile commercial real estate capital markets industry where efficiency and data are key to acquiring, analyzing and saving deals, we’ve heard about the pain from our colleagues and enhanced our platform to set up professionals and firms for success,” said Thomas Foley, co-founder and CEO of Archer. “We’re committed to continuous innovation to keep Archer as your go-to solution for automating real estate analysis and data-driven investment decisions.
The improvements boost the original platform which allowed professionals to perform the following activities.
Accelerated Underwriting and Parsing: Eliminate time-consuming manual tasks with lightning-fast parsing and automated underwriting analysis in our model or our user’s model. Essentially, it allows users to analyze more deals in less time and with increased accuracy.
Enhanced Property Search and Insights: Aggregation of the largest set of marketed multifamily deals, expanded property data, a streamlined search experience, and integrated mapping tools to discover and evaluate more opportunities.
Deeper Market Analysis: Customizable reporting, giving users the context needed to maximize their investments.
About Archer Archer is a real estate technology firm that helps investors, brokers, and lenders throughout their investment analysis process. The firm’s data-driven, AI-powered platform enables CRE professionals to determine the best new markets to enter, identify on and off-market deals, and underwrite properties with one click, and now manage deals in your connected pipeline. Using Archer’s technology, firms can go from strategy creation to execution in a fraction of the time. Learn more at www.archer.re.
Investments from Virginia Innovation Partnership Corporation, State of Tennessee, and Hersh Family Investments Anchor First Close
TYSONS, Va., June 11, 2024 — Veteran Ventures Capital (VVC) is pleased to announce the successful first close of its Fund II, reaching $25 million—half of its target raise of $50 million. This milestone, achieved in less than five months, underscores the strong investor confidence in Veteran Ventures’ thesis and execution, focusing on investing in dual-use national security technology businesses led by veteran entrepreneurs and leaders.
VVC General Partnership
Veteran Ventures first close was supported by significant investments from the Virginia Innovation Partnership Corporation (VIPC) and the State of Tennessee. Additionally, the team is honored to receive continued investment and guidance from anchor investor Ken Hersh and the dedicated team at Hersh Family Investments. Their unwavering support underscores the potential and promise of VVC’s investment strategy.
Building on Success: Fund I Highlights
Veteran Ventures’ Fund II first close builds on the success of VVC Veterans Fund I. “Our inaugural fund has demonstrated the effectiveness of our investment approach, garnering over $130 million in non-dilutive government funding across our portfolio companies,” said Managing Partner Derren Burrell. “This achievement has effectively de-risked our investments, providing a strong foundation for continued growth and innovation.” Additionally, 60% of Veteran Ventures’ portfolio companies have received mark-ups, with several more anticipated in the months ahead. This performance is a testament to the hard work and resilience of Fund I portfolio companies, founded or led by veterans.
Investing in the Future of National Security
Veteran Ventures Capital is dedicated to supporting the next generation of veteran-led businesses that are developing the future technologies critical to national security. The focus on dual-use technologies ensures that portfolio investments not only benefit from the defense sector, but also have commercial applications, driving broader economic impact and opportunity.
VVC Veterans Fund II offers a unique opportunity for investors to be part of a mission-driven venture capital firm that combines financial returns with a commitment to national security. By investing in rapidly growing dual-use technology businesses led by veterans, Veteran Ventures Capital leverages the unique skills, discipline, and leadership qualities inherent in those who have served & defended the nation.
Looking Ahead
Veteran Ventures Capital will be conducting future closes through the 4th quarter of 2024, providing ample opportunity for new investors to participate in the growth underway in Fund II. With the first close of $25 million, VVC is well on its way to exceeding the target raise, already surpassing the Fund I total capitalization in record time.
“With the momentum in our second fund, Veteran Ventures Capital is well-positioned and newly recapitalized to continue its mission of supporting veteran entrepreneurs and advancing national security technology. We look forward to partnering with more investors who share our vision and commitment to build excellent companies making a meaningful impact,” said General Partner Josh Weed.
About Veteran Ventures Capital:
Veteran Ventures Capital is a veteran-owned growth-equity investment firm empowering veteran entrepreneurs and leaders working at the nexus of national security and commercial technology. Their team invests exclusively in companies that have military veteran leadership; recognizing their military experience, training, and unwavering character translates into exceptional business acumen and superior risk-adjusted returns for investors.
Founded in 2019, Veteran Ventures Capital is now headquartered in Tysons, Virginia, and remains committed to empowering veteran entrepreneurs nationwide and leveraging the team’s extraordinary national security industry experience to shape the leading veteran-led commercial tech companies of the future. Veteran Ventures Capital is now actively raising its second fund with a target of $50 million and hard cap of $100 million.
For media inquiries, please contact: Craig Jaques Principal, Veteran Ventures Capital Email: [email protected]
Series C financing led by Adams Street Partners and Khosla Ventures underscores breakout year marked by 200 percent growth in new bookings
SAN JOSE, Calif., June 11, 2024 — Cyberhaven, the leader in data detection and response (DDR), today announced it has raised $88 million in Series C funding led by Adams Street Partners, LLC (“Adams Street”) and Khosla Ventures, with significant participation from existing investors Redpoint Ventures, Costanoa Ventures, Vertex Ventures, Crane Venture Partners, and Wing Venture Capital. Prominent security leaders including Amol Kulkarni, former CPO at CrowdStrike, Gerhard Eschelbeck, former CISO at Google, Ash Devata, former GM of Duo at Cisco, and others also participated. The round underscores a breakout year for the company, marked by 200 percent growth in new bookings. As part of this financing, Fred Wang, Partner at Adams Street, will join Cyberhaven’s board of directors.
Data is every organization’s most valuable asset, yet it remains the most vulnerable. Cyberhaven protects the intellectual property that traditional data loss prevention (DLP), insider risk, and data security posture management (DSPM) tools fail to identify and secure—data like source code, product designs, and customer records. With its pioneering data lineage technology and foundational AI model that understands not only content but also context, Cyberhaven is uniquely able to classify any sensitive information, understand when it is at risk, and take action to protect it.
“Cyberhaven is addressing some of the most pressing challenges in data security today, particularly protecting IP from insider threats,” said Fred Wang of Adams Street. “Their innovative approach to tracking data lineage and applying AI to understand data and risk is transformative. We believe Cyberhaven is setting a new standard in the industry and are excited to support their continued growth and innovation.”
The Cyberhaven platform protects data as it moves between clouds, devices, web, email, messaging, and generative AI tools. Cyberhaven Labs recently reported a 485 percent increase in corporate data flowing to AI systems over the past year, much of it going to risky “shadow AI” apps. Organizations recognize that in the AI economy their data is the key to winning their markets and unlocking immense value. But to fully realize that potential, they must understand their data like never before, including its origins and how it is used over time.
Ethan Choi, Partner at Khosla Ventures added, “AI introduces new data security risks, from the dangers of ‘shadow AI’ where employees input confidential data into prompts for AI services, to the generation of malicious or inaccurate AI content used in business-critical areas. Cyberhaven’s technology addresses these new threat vectors with their unique approach to data lineage, making it an essential solution for CISOs of the most innovative companies in the world.”
“We are thrilled to welcome Adams Street and Khosla Ventures to our mission of protecting the world’s top innovators, who are increasingly dependent on AI and data,” said Howard Ting, CEO of Cyberhaven. “Our groundbreaking data lineage technology has elevated the efficacy of our customers’ DLP and insider risk programs but we’re just getting started. This funding will enable us to rapidly expand our platform and grow the DDR category.”
With this new investment, Cyberhaven plans to expand its product offerings, increase its market reach, and continue its mission to protect the world’s most sensitive data.
Earlier this year, Cyberhaven accelerated its market-leading platform with the launch of Linea AI and a new foundational Large Lineage Model (LLiM). Cyberhaven was also recognized by Fortune for its “Fortune Cyber 60” list of top security companies.
About Cyberhaven Cyberhaven is the AI-powered data security company revolutionizing how companies detect and stop the most critical insider threats to their most important data. Until now, data security products were limited to scanning data content and looking for specific user actions. Our AI technology analyzes billions of workflows to understand every piece of data within an organization, when it’s at risk, and takes action to protect it. It’s like nothing that’s come before and protects data like nothing else. For more information, visit https://www.cyberhaven.com/.
PHOENIX, June 11, 2024 — Mindset Medical, Inc., a software as a medical device company, has announced the closing of a Series A financing. Grayhawk Capital and Questa Capital led the financing round, with participation from AZ Venture Development Corporation, Amgen Ventures and Nova Prime. The proceeds will be used to further develop Mindset Medical’s proprietary non-contact physiological measurements application, Informed Vital Core, and, to conduct clinical studies to support the use of the software as a medical device.
Mindset Medical, Inc., (mindsetmedical.com) headquartered in Phoenix, AZ, has developed a virtual health solution that combines the safety and convenience of a virtual health visit with the data that comes with traditional in-person care. Using secure and encrypted links delivered by SMS text messaging, the healthcare provider can collect up-to-the-minute patient data and remotely monitor patient outcomes and recovery. All communication and data collection are conducted via the patient’s smartphone or mobile device; no external hardware or specialized devices are required. By introducing medically necessary and objectively measured physiological vital signals to remote health interactions, Mindset Medical seeks to advance the feasibility and quality of virtual health applications.
About Grayhawk Capital
Grayhawk Capital invests primarily in B2B disruptive SaaS solutions across a variety of verticals, including Healthcare IT, Cybersecurity, FinTech and Business Productivity. Grayhawk seeks early-growth stage companies with $2MM-$6MM in recurring revenue with capital efficient models in $1B+ global markets. We look for management teams with outstanding founders who are leaders, ambitious and coach-able.
Questa Capital is a venture growth equity firm focusing on investments in expansion-stage healthcare companies. Questa seeks out disruptive, technology-enabled business models that help improve patient lives, streamline market inefficiencies, and provide better quality care. The firm partners with superior management teams to help build innovative market leaders in the healthcare technology, services and medical devices sectors. Questa is led by industry veterans in healthcare investment and operations who have invested in and advised more than 60 growth-stage companies. More information is available at www.questacapital.com.
About AZ Venture Development Corporation
At Arizona Venture Capital, we invest in early-stage technology startups and funds across enterprise, software, consumer, climate-tech, and bio/health tech – all while helping catalyze access to equity capital for underserved founders and communities in Arizona.
Established in 2004 as Amgen’s corporate venture capital fund, Amgen Ventures identifies and invests in emerging companies and technologies to advance promising new medicines and solutions to healthcare’s biggest challenges.
Globally, Amgen Ventures has strategically invested in human therapeutics and drug discovery efforts that go beyond-the-molecule, such as digital technology platforms, data analytics, and value-based approaches.
ClearImpact Ventures, and its NOVA Prime Fund I, invests in mission-driven early-stage technology companies focused on sustainable energy, digital health, and industries of the future. NOVA Prime Fund I seeks to accelerate its companies in collaboration with LG NOVA, LG Electronics North America Center of Innovation.
