Over 2,300 startups have applied to participate in Decelera Menorca, which celebrates its 10th edition
The fund organizing the event, Decelera Ventures, has raised 38 million euros in the last year to invest in tech startups focused on sustainability
MENORCA, Spain, May 22, 2024 — This week 20 startups will gather in Menorca for 10 days to meet with mentors and investors. The organization selected the 20 finalist startups from over 2,300 applications worldwide, a 35% increase over last year’s applications.
Startups at Decelera Menorca can access up to 300,000 euros in investment to boost their projects. Decelera Ventures, the early-stage fund behind the organization, raised 38 million euros last year and has a portfolio of 19 companies. The fund plans to invest in over 50 projects in the next 3 years, with tickets of up to 300,000 euros, and provide follow-up support.
Decelera Ventures is the world’s first ‘decelerator’. At this event, founders step out of their day-to-day, to gain new perspectives, prepare for their next phase of growth and connect with investors.Since 2015, when the first edition was held, over 10,000 startups from more than 95 countries have applied to Decelera.
During the program, more than one hundred Experience Makers and over fifteen venture capitalist and international investors will learn about the 20 finalist startups, which include the global talent community Nova, credit building platform through remittances for African immigrants Kredete, platform connecting companies and university students U4IMPACT, dating platform Flamme, AI tech company Aitaca, 3D printing software developer Ziknes, property management software Praefy, platform for energy providers Quixotic360, and subscription management platform Emendu, automate invoices and delivery notes using AI, Dost, among others.
Among the prominent attendees are names from the entrepreneurial ecosystem: Bernat Farrero (Factorial and Itnig Podcast), Marta Zaragoza (Declarando), Pepe Borell (Deale), Rui Stoffel (BusUp), Alvaro Dexeus (Pleo, Ex-Deliveroo), Laura Esnaola (Care with Care), Sean Cook (Ex-VP of Mailchimp), Mike Landman (Ripple), Philippe Gelis (Kantox), Laura Urquizu (Red Points), Oriol Vila (Hola Luz), Tim Varner (Whitelabel).
The event is supported by global entities and local companies such as the Menorca Tourism Promotion Foundation, Sancus Capital, Julius Bär, Son Parc Hotels & Golf, San Miguel, Funq, Fibralink, Gin Xoriguer, Cacahuete, Owners Car, Queso Mahón, Carolina Carreras, Agua de Menorca, El Paladar, and Can Senylaet.
Additional funding will be used to explore novel biology around the MMR pathway and accelerate progression of the lead program into candidate selection
LONDON, May 22, 2024 — NeoPhore Limited, a small molecule neoantigen immuno-oncology company, today announces that Bristol Myers Squibb (NYSE: BMY) has joined its oversubscribed Series B extension round.
The additional investment from Bristol Myers Squibb will enable NeoPhore to explore novel biology associated with the DNA mismatch repair (‘MMR’) pathway in cancer, as well as further progress its pre-clinical studies and deliver a candidate drug in 2025.
NeoPhore is focused on building a pipeline of small molecule drugs targeting novel proteins across the MMR pathway to generate next-generation immuno-oncology therapeutics to improve clinical outcomes for cancer patients. Its first-in-class MMR inhibitors induce neoantigen expression and increase immunogenicity in solid tumours that become exquisitely sensitive to immunotherapy.
Dr Matthew Baker, Chief Executive Officer of NeoPhore, said:“We are thrilled to have Bristol Myers Squibb, an innovator in the immuno-oncology space, join our oversubscribed Series B extension round. The funding strengthens NeoPhore’s position and enables us to complete the necessary pre-clinical studies to deliver a candidate drug for our lead PMS2 program in 2025.”
Dr Robert James, Chairman of NeoPhore, said:“The addition of Bristol Myers Squibb to the Series B extension supports NeoPhore’s novel approach to targeting the MMR pathway with small molecule inhibitors to treat cancer. Building on NeoPhore’s successes in 2023, we hope to see a year of progress for the Company’s pre-clinical programs”.
NeoPhore, UK is focused on the discovery and development of novel small molecule therapies to treat cancer through stimulation of the immune system. Generation of cancer neoantigens in tumours can be exploited by the patients’ immune system to overcome natural defence mechanisms in cancer. The Company’s approach targets the DNA mismatch repair (MMR) pathway, which has been proven to promote neoantigen creation and subsequent immunity against numerous cancers. Using these insights, NeoPhore aims to generate next-generation immuno-oncology therapeutics to improve clinical outcomes for cancer patients. NeoPhore was spun-out of the University of Turin and PhoreMost Ltd by the CRT Pioneer Fund. For more information, please visit www.neophore.com
About Bristol Myers Squibb Company
Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop, and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook, and Instagram.
SINGAPORE, May 21, 2024 — OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced its strategic investment in Monad Labs, which is developing a developer-forward smart contract platform that is poised to revolutionize the decentralized digital landscape.
This investment underscores OKX Ventures’ commitment to supporting innovative projects at the forefront of blockchain technology and decentralized ecosystems.
Monad Labs, a leader in innovation, offers a revolutionary platform that scales Ethereum by 1000x through parallel execution and superscalar pipelining of Ethereum transactions. By combining advanced technologies with a focus on scalability and efficiency, Monad Labs is pioneering a new era in decentralized computing, enabling developers and users to fully harness the potential of Web3.
OKX Ventures Founder Dora Yue said: “Monad Lab’s innovation and technical strength will provide a solid foundation for promoting Web3 innovation. We look forward to making a positive contribution to the future development of decentralized computing through our partnership with Monad Labs. OKX Ventures’ investment will provide Monad Labs with the necessary resources and support to accelerate the development of its platform, expand its influence in the blockchain community, and provide more efficient and scalable decentralized applications for developers and users worldwide.”
OKX Ventures’ investment will equip Monad Labs with the resources and support needed to accelerate the development and adoption of its platform. Monad Labs aims to enable developers to build high-performance decentralized applications (dApps) that can scale to meet the demands of mass adoption, ushering in a new era of innovation and accessibility in the blockchain space.
Monad Labs CEO Keone Hon said: “We are delighted to welcome OKX Ventures as a strategic partner in our effort to accelerate the capabilities and adoption of decentralized apps. OKX Ventures’ expertise and vision align perfectly with Monad’s mission to unlock the full potential of decentralized computing. Our team looks forward to collaborating to boost the growth and adoption of Monad tech.”
As a prominent investor in the blockchain sector, OKX Ventures remains dedicated to identifying and nurturing projects that demonstrate the potential to drive positive change within the industry. The investment in Monad Labs reflects OKX Ventures’ confidence in the team’s technology and vision, as well as its dedication to fostering sustainable growth in the blockchain ecosystem.
OKX Ventures is the investment arm of global leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.
MIAMI, May 21, 2024 — Blackridge is a distinguished private investment firm that has been pioneering volatility based investing since its inception in 2019. It is renowned for its expertise in identifying and leveraging disruptive technologies, innovation, and global economic advancements.
We seek to create positive economic impact and long-term value for our investors, the companies we invest in and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses include investment vehicles focused on private equity, real estate, public debt and equity, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.
Blackridge manages a portfolio exceeding $1.7 billion in private capital, committed to delivering sustained returns for its esteemed roster of public and private institutional clients. It is now transitioning into the United Arab Emirates market too.
At the helm of Blackridge is Nathan Gauvin, its visionary Founder, CEO and CIO, boasting over seven years of executive leadership within the alternative investment domain. His strategic foresight, operational prowess, and relentless pursuit of innovation have been pivotal in propelling the firm’s trajectory of growth and success.
Before establishing Blackridge, Nathan served as an Investment Partner at Andreessen Horowitz (a16z), where his contributions shaped deal flow, investment strategies, and venture direction. Additionally, his co-founding role at TaxBit in 2017, followed by its successful sale in 2019, underscored his entrepreneurial acumen and ability to drive value creation.
Guided by a steadfast commitment to market insight and forward-looking analysis, Blackridge’s investment strategy revolves around identifying emerging trends and opportunities poised to drive productivity and foster wealth creation.
Anchored by a rigorous, research-driven approach, Blackridge harnesses the collective expertise of its in-house research and quant team to unearth actionable insights and capitalize on lucrative investment prospects.
Central to Blackridge’s investment philosophy is the recognition that disruptive technologies, innovation, and global economic advancements serve as primary catalysts for sustained growth and value creation in the long term.
Blackridge’s investment mandate is comprehensive and diversified, spanning a diverse array of asset classes and geographies. From private equity and private credit to equities, options, public debt and equity, growth equity, opportunistic investments, non-investment grade credit, real assets, and secondary funds, the firm’s multi-asset approach enables the crafting of bespoke investment portfolios tailored to the unique needs and risk appetites of its institutional clients.
Moreover, Blackridge places a paramount emphasis on risk management and capital preservation, employing sophisticated risk analytics and stress-testing models to vigilantly monitor and mitigate portfolio risk.
By maintaining a disciplined approach to portfolio construction and asset allocation, Blackridge ensures that its investments remain resilient in the face of market volatility and economic uncertainty, thereby optimizing risk-adjusted returns for its clients.
A cornerstone of Blackridge’s competitive edge lies in its dedication to cutting-edge research and technology. Bolstered by a robust in-house research and quant team comprising 30 seasoned professionals, the firm remains at the forefront of innovation, developing bespoke algorithms, software solutions, and technology management services tailored to the unique needs of hedge funds, banks, and large institutions.
This steadfast commitment to innovation and technology affords Blackridge a distinct advantage in the fiercely competitive landscape of alternative investments. As part of its strategic growth initiatives, Blackridge is actively exploring opportunities to expand its global footprint and investor base.
Blackridge’s forthcoming transition from the United States to the United Arab Emirates signals a strategic pivot toward emerging markets, poised to capitalize on the vast potential and burgeoning opportunities within these regions.
Concurrently, Blackridge remains vigilant in evaluating strategic locations worldwide to further diversify its operations and investment portfolio, thereby solidifying its position as a global leader in alternative investments.
SANTA CLARA, Calif., May 21, 2024 — In a groundbreaking development for the logistics industry, Roambee introduces the world’s first true 5G GPS ‘peel-and-ship’ smart label, rapidly embraced by leading Global 2000 brands. This 4-inch x 6-inch smart label offers a revolutionary ‘barcode-like’ user experience, leveraging advanced 5G, GPS, and NIST calibrated sensors for temperature, humidity, shock, and light. Designed for single-journey applications, its disposable nature provides enterprises with unprecedented real-time visibility into secondary distribution networks, direct-to-customer deliveries, and end-to-end product flow insights, where traditional reusable trackers fall short.
Stick, Peel, Ship – Roambee’s Smart Label’s Ease of Use
Roambee’s 5G GPS Smart Label Solution
By seamlessly integrating with Roambee’s cutting-edge unified visibility platform, the solution offers accurate & timely insights into ETA, Quality, and Security of shipments across 100% of the supply chain. This innovative solution is designed to cater to the needs of Global 2000 Enterprises including 3PLs, addressing the crucial demand for real-time visibility into time-sensitive and high-value shipments across local and global customer locations, regardless of the transportation mode or the distribution leg.
“Mondelez is highly quality-driven when it comes to cater to high customer-service standards which includes its logistics and cold chain operations. Forecasting On-Time, In-Full and Quality of goods deliveries is thus key to our efficient transportation fulfillment operations. Roambee’s supply chain intelligence, powered by its smart label technologies, enables us to analyze and respond to real-time and historical trends by lane, transporter, seasonality, and more, to ensure the availability of quality product on shelf,” shared Gurpreet Singh, Logistics Project Manager at Mondelez International.
On the value it adds to 3PL companies, Atsushi Tsuchiya, Senior Expert, Digital – R&D (Data ＆Agile Team) at Yamato Transport, the No.1 Delivery Service Company in Japan, said, “At Yamato Transport, we ship upwards of 2.3 billion parcels annually. The introduction of Roambee’s smart label is a potential game-changer in our efforts to safely deliver our customers’ important packages. This infrastructure-free application can allow our B2B customers to effortlessly and cost-effectively track and trace packages. The innovation eliminates the typical deployment challenges associated with visibility solutions, revolutionizing parcel logistics.”
The label’s peel-and-ship experience mimics the simplicity of using a barcode label while eliminating the need for infrastructure like printers. This prevents alterations to existing shipping processes. Global connectivity through 5G offers flexibility in updating tracking frequencies to suit various logistical needs. Its NIST calibrated temperature sensors ensure pharma-grade compliance for live tracking with minimal variance. The label’s versatility extends to its ability to track shipments of any size or type, including FTLs, FCLs, LTLs, LCLs, and parcels, emphasizing its adaptability across the supply chain. A simple peel-to-activate mechanism after sticking it on the load guarantees activation.
The smart label conforms to standard shipping label dimensions for seamless unification with shipping labels. The shipper can affix a shipping label upon Roambee’s smart label with ease. It also negates the need for customs declarations, streamlining logistics process. The smart label & platform further aligns with Roambee’s environmental commitment, aiding in accurately calculating & reducing Scope 3 Emissions, and promoting a greener supply chain.
“Roambee’s smart label and platform revolutionize product delivery to third-party destinations,” remarked Sanjay Sharma, CEO of Roambee. “They boost retail forecasting with precise product flow insights and issue critical alerts for time-critical component deliveries, ensuring necessary site services are promptly activated upon arrival. The technology also streamlines cross-border logistics, offering automated, physical, and electronic proof of delivery (ePOD). With its wide-ranging applications for direct customer deliveries and secondary and tertiary distribution networks, Roambee seizes a first-mover advantage in a market opportunity exceeding $65 billion.”
Roambee’s smart label marks a significant milestone in the evolution of logistics and supply chain management. By offering an unmatched level of real-time visibility and control over shipments, Roambee reaffirms its position as a leader in logistics innovation. This launch not only represents a significant advancement in technology but also aligns with Roambee’s vision to make supply chains more transparent, automated, and sustainable.
About Roambee
Roambee is a supply chain visibility & intelligence provider enabling on-time, in-full, in-condition delivery of shipments and assets anywhere in the world. 300+ enterprises are improving customer experience, service levels, product quality, order-to-cash cycles, business efficiencies, sustainability, and automating logistics with Roambee’s real-time insights & foresights. More than 50 of them are the top 100 global companies in the Pharma, Food, Electronics, Chemicals, Automotive, Packaging & Containers, and Logistics sectors. Roambee’s innovative AI-powered platform, and end-to-end monitoring solutions, deliver reliable business signals built on item-level, firsthand IoT sensor data and non-sensor inputs. The outcome is 70% better multimodal ETAs, OTIF deliveries, 80%+ cold chain compliance, and more, including 4X+ ROI on supply chain asset performance. To learn more visit, https://www.roambee.com.
NASHVILLE, Tenn., May 21, 2024 — Wayspring, a value-based care entity focused on substance use disorder (SUD) populations, today announced a capital raise led by CVS Health Ventures. The investment recognizes Wayspring’s impactful approach to managing populations with SUD, showcasing the need for innovative care models. Existing investors including Valtruis (portfolio company of Welsh, Carson, Anderson & Stowe), HLM Venture Partners, and .406 Ventures all participated in the funding round.
Wayspring, a value-based care entity focused on substance use disorder (SUD) populations, today announced a capital raise led by CVS Health Ventures. The investment recognizes Wayspring’s impactful approach to managing populations with SUD, showcasing the need for innovative care models. Existing investors including Valtruis (portfolio company of Welsh, Carson, Anderson & Stowe), HLM Venture Partners, and .406 Ventures all participated in the funding round.
Justin Brock, Executive Director and Partner at CVS Health Ventures, highlighted the strategic nature of the investment, “Wayspring has demonstrated an exceptional ability to execute a complex care model that profoundly impacts the lives of those with substance use disorder. We are impressed by the early results and will collaborate with Wayspring to continue addressing a critical need in healthcare.”
The capital will be used to expand the reach of the SUD Home program within current Wayspring states and into select new markets. This program integrates clinical care with a deep understanding of social determinants of health (SDOH) and aims to ensure that comprehensive, value-based care is both accessible and readily available to those who need it. The SUD Home program provides tailored, comprehensive solutions that address the unique needs of each member, significantly improving outcomes and reducing healthcare costs.
Carter Paine, CEO of Wayspring, expressed his gratitude and optimism regarding the partnership: “We are immensely grateful for the support from CVS Health Ventures as we expand our proven SUD Home model. This investment reinforces our mission to enhance lives through advanced, compassionate care strategies. With the backing of CVS Health Ventures, we are poised to drive significant advancements in the treatment of substance use disorders, reshaping the delivery of care by making holistic, patient-centered care more widespread and accessible.”
Wayspring has partnerships with health plans across eight states with plans to launch its SUD Home services in two new states in 2024.
For more information about Wayspring and the SUD Home model, please visit wayspring.com.
About Wayspring Wayspring is a value-based healthcare organization that provides medical, behavioral health, and social support services to people with complex needs. With a focus on people living with substance use disorder, Wayspring utilizes a comprehensive and longitudinal model that incorporates targeted member outreach, strategic provider partnerships, community-based peer support, and delivery of clinical services. Through this unique approach, Wayspring produces increased adherence to evidence-based medicine, decreased healthcare waste, and improved health outcomes. For more information, please visit wayspring.com.
About CVS Health Ventures
CVS Health Ventures is a dedicated corporate venture capital fund that works with high-potential, early-stage and growth-stage companies focused on making health care more accessible, affordable, and simpler. The company focuses on investments that transform care delivery and focus on whole person care, consumer-centric health, and disruptive technology enablement. CVS Health Ventures’ goal is to enable promising entrepreneurs to scale more quickly and effectively through access to their unmatched enterprise capabilities and consumer touchpoints, while offering expertise and insights from their company’s unique perspective. For more information, visit cvshealthventures.com
LITTLE ROCK, Ark., May 21, 2024 — High Street Equity Partners (HSEP), a leading venture capital firm committed to investing in innovative technology companies within emerging innovation hubs across the United States, proudly announces its selection by the Arkansas Development Finance Authority (ADFA) for the Arkansas State Small Business Credit Initiative (SSBCI) program.
Reauthorized and expanded under President Biden’s American Rescue Plan, the SSBCI is a nearly $10 billion initiative aimed at supporting small businesses and entrepreneurship across the United States. The program provides essential capital and technical assistance to promote small business stability, growth, and success. Administered by the U.S. Department of the Treasury, SSBCI funds are allocated to states, the District of Columbia, territories, and Tribal governments to support capital programs that encourage lending and investment in small businesses, build entrepreneurial ecosystems, and create high-quality jobs. Arkansas has been approved for up to $81.6 million in SSBCI funding. Through its partnership with High Street Equity Partners, the State of Arkansas aims to catalyze high-growth companies based in Arkansas.
Mark A. Conine, President of the Arkansas Development Finance Authority, stated, “This partnership represents a significant vote of confidence in our state’s innovation ecosystem, creating new opportunities for local talent to thrive and redefine the success stories of tomorrow. High Street Equity Partners is well-positioned to leverage their expertise and experience to fuel the growth of visionary entrepreneurs and strengthen the state’s economic landscape.”
Mitch Brooks, Founding Managing Partner of High Street Equity Partners, expressed his enthusiasm, stating, “We are thrilled to enter into this investment partnership and to have ADFA amplify our mission to support resilient founders building remarkable companies in emerging innovation hubs like Arkansas. We believe that extraordinary talent exists beyond traditional tech hubs such as Silicon Valley, which have historically captured the majority of seed capital. After sharing our vision with ADFA’s leadership and board, it is gratifying to see their alignment and shared goals. Together, we will invest in, support, and scale the next generation of promising technology companies in the state.”
Arkansas has a rich history of entrepreneurial spirit, from its robust agricultural sector to its growing high-tech community. Over the past decade, the state has seen a surge in startup activity, with the establishment of numerous co-working spaces, incubators, and accelerators. The SSBCI program is designed to catalyze private capital and provide crucial support to this entrepreneurial ecosystem.
4,000 binding pre-orders from customers including Bimbo Bakeries USA; the world’s largest RV manufacturer, THOR Industries; postal service operator, Mail Management Services; leading North American commercial vehicle dealers; and more.
Harbinger formally announces it raised one of the hardware industry’s largest-ever Series A rounds, which closed at $73 million in Q4 2023.
The company announces its North American network of premier dealers, which is already positioned to serve 78% of the population in the U.S. and Canada, and continues to grow.
The new orders and funds are catalyzing rapid growth around the manufacturing and commercialization of Harbinger’s innovative electric vehicle chassis.
LAS VEGAS and LOS ANGELES, May 21, 2024 — Harbinger, a Southern California-based electric truck manufacturer, announced today at ACT Expo its order book, which includes 4,000 binding vehicle pre-orders from customers and is valued at more than $400 million. This includes a substantial multi-year order from Bimbo Bakeries USA, the U.S. business of Grupo Bimbo, the world’s largest baking company, and producer of iconic brands including Sara Lee Bread®, Thomas’®, Entenmann’s® and more. Harbinger also received orders from the world’s largest recreational vehicle (RV) manufacturer, THOR Industries, known for its operating companies which include Airstream, Jayco, Tiffin and Thor Motor Coach. Additionally, commercial vehicle dealers have placed significant orders including two of Freightliner’s largest dealers Doggett Equipment Services Group (500 units) and Campbell Supply (125 units); as well as other dealers, GATR Truck Center (500 units); ETHERO Truck + Energy (200 units); Electric Commercial Vehicles (ECV), an affiliate of Smyrna Truck (50 units) and more. Postal service operator, Mail Management Services has also placed an order for 40 units, among others.
A Harbinger medium-duty electric walk-in van. Walk-in vans are also commonly referred to as “step vans.”
The company has also announced it closed an additional $13 million in Series A funds in Q4 of 2023 from venture and strategic investors, including additional funding from the Coca-Cola System Sustainability Fund, managed by Greycroft. Previously, the companyannounced it had raised $60 million in Series A funds, bringing the new Series A total to $73 million and marking one of the largest Series A rounds for a hardware company. Harbinger will use the additional funds to continue expanding its manufacturing capacity and launch its commercial start of production in Q4 of 2024.
“While other new entrants struggle to fill their order pipelines, we have extensive pre-orders and backed-up demand for our medium-duty electric vehicles,” said John Harris, CEO, Harbinger. “We are laser focused on the medium-duty vehicle segment, where there is a huge variety of vehicles built on chassis like ours including walk-in vans, box trucks, recreational vehicles, delivery vans, school buses, emergency and disaster response vehicles and more. Today, most manufacturers are adapting gasoline or diesel vehicles to electrification, rather than building a ground-up electric platform. This compromised approach leads to concerns with vehicle safety and durability as well as higher production costs, which is why we chose to start fresh with a clean sheet design.”
A Premier Network of Partners and Dealers
Part of Harbinger’s strategy is to build a holistic network to support the launch of its electric medium-duty trucks, including a nationwide network of service providers, charging and infrastructure development partners, and premier dealers. The company’s premier dealer network, which already serves 78% of the population in the U.S. and Canada and continues to expand, includes the following among others:
“Demand outstrips supply for the entire medium-duty category as we have a multi-year backlog for electric, diesel and gasoline vehicles,” said Scott Campbell, Owner, Campbell Supply. “Electric vehicles have a big place in the market and that segment is only going to continue to grow. Harbinger’s electric trucks are a true industry changer. They offer superior acquisition and operating costs, enhanced safety features, and a driver-friendly design, all while delivering zero tailpipe emissions.”
Seasoned Team, Clean Slate Design
Harbinger is led by a management and technical team that hails from Tesla, Rivian, Ford, Anduril, SpaceX, Toyota, Honda, Volvo Trucks, Mack Trucks, and more. Harbinger has created a proprietary electric platform, also known as an electric vehicle stripped chassis, from the ground-up. It includes all major vehicle systems, which the company designs and assembles in house, including the powertrain, high voltage (HV) battery system, steering, brakes, and more. This vertically integrated approach keeps costs low and provides a higher-performing, safer and more durable solution than electric vehicles built upon existing diesel and gasoline platforms, which is common in the industry. Harbinger is the only electric truck maker that manufactures its own motors and battery packs, which is a more cost effective and tailored solution than integrating off-the-shelf systems.
Harbinger Business Model
Once Harbinger assembles its electric vehicle stripped chassis, the company sells them to a dealer, a specialty upfitter, or directly to large fleet customers. From there, the dealer or customer works with a third party to upfit the chassis with a commercial or specialty body. Selling medium-duty stripped chassis separately from the body is standard practice for the large gas and diesel incumbents such as Ford and Freightliner.
One Platform, Many Possibilities
The majority of the vehicles in Harbinger’s 4,000-unit order, including those for Bimbo Bakeries USA, are intended for upfit into walk-in vans, which are commonly referred to as “step vans” and are the typical large package delivery trucks seen on roads today. The others will be upfit into various vehicle types such as class A motorhomes, emergency vehicles and cutaway cabs, which are vehicles where only a cab is provided and an upfitter provides a custom-built payload area to create box trucks, shuttle buses, and more. Harbinger is working with body partner Sevna to upfit the chassis into cutaway cabs. Harbinger’s electric chassis is available in three different wheelbases, including 158 inches, 178 inches, and 208 inches, and in four different gross vehicle weight ratings (GVWRs), ranging from class 4 through 6.
Other specifications include:
800V liquid cooled battery system, with capacity scalable in 35kWh increments up to a 200+ mile range, which serves 90% of truck use cases
Designed for 20-year, 450,000-mile service life
Segment-leading safety and driver assistance features
One-hour DC fast charging capability
Passenger vehicle-like handling and ride comfort
“Aligned with Grupo Bimbo’s Purpose of Nourishing a Better World, Bimbo Bakeries USA has multiple carbon reduction strategies to meet their commitment of achieving Net-Zero emissions by 2050,” said Christopher Wolfe, Senior Director of Sustainability, Bimbo Bakeries USA. “Partnering with Harbinger to expand our robust fleet of alternatively fueled vehicles is an important step in reducing our carbon emissions and dependencies on fossil fuels.”
Early Orders Being Manufactured Today
Harbinger’s manufacturing efforts are led by a world-class team including Tesla’s former Vice President (VP) of Manufacturing, Gilbert Passin, who serves as Harbinger’s Chief Production Officer. Passin, who spent nearly a decade at Tesla and led the launch and ramp-up of the Tesla Fremont factory, also held prior VP and General Manager-level roles with Toyota, Volvo Trucks, Mack Trucks, and Renault. Former Rivian VP of Supply Chain and Tesla executive Steve Gawronski serves as Harbinger’s Vice President of Supply Chain and Logistics.
Under Passin and his team’s leadership, the company has already produced and delivered a limited number of pre-production vehicles to key customers, including the first customer delivery to THOR in March of this year. Harbinger will begin producing and delivering its first production vehicles starting at the end of 2024.
“The THOR executives were amazed by the clean design of Harbinger’s electric chassis, and most had a hard time believing this was a pre-production vehicle,” said Jim Kane, Director of eMobility at THOR Industries. “Harbinger’s product is so much better than anything else we have seen from the industry.”
Government Incentives are a Game Changer for the Industry
Government regulations are accelerating the adoption of electric vehicles into fleets across the nation. The U.S. federal government’s Inflation Reduction Act (IRA) is providing up to $40,000 per vehicle in tax incentives to buyers or lessors of commercial electric vehicles; either 30% of the original purchase price of the vehicle minus the credit, or the price difference between the electric vehicle and an equivalent gas or diesel vehicle. This incentive is valid from Jan. 1, 2023 through Dec. 31, 2032 with no limit on the number of vehicles sold or amount of money disbursed through this incentive. Additionally, state and local zero-emissions grants introduce substantially more cost savings directly to customers. For example, California’s Hybrid and Zero-Emissions Truck and Bus Voucher Incentive Project (HVIP) provides buyers with approximately $30,000 – $85,000 worth of grants to purchase clean vehicles.
“Harbinger was founded on the principle that for commercial electric vehicles to become ubiquitous, they should be just as affordable to purchase as their gas and diesel counterparts,” said Harris. “The medium-duty truck market will quickly move to clean, economical electric power over the next few years, especially as government tax incentives and grants make all-electric trucks more affordable. There is a huge need for electrification in this market, and Harbinger is filling that gap.”
Price Parity with Gasoline and Diesel Vehicles
Most electric vehicles are only cost competitive with gasoline and diesel vehicles when factoring in the total cost of ownership, which takes into account the fuel and maintenance savings over many years. Harbinger takes a different approach. The company’s vehicles are sold at price parity with equivalent gas and diesel models after federal government tax incentives.
Harbinger at ACT Expo
Harbinger is exhibiting at this year’s Advanced Clean Transportation (ACT) Expo. With one of the largest booths (#1271), they are showcasing a Bimbo Bakeries USA walk-in van, a cutaway cab developed by Harbinger partner Sevna, and the full suite of Harbinger’s proprietary vehicle technologies, including a complete electric stripped chassis and advanced safety systems demonstrations. On Wed., May 20 at 2:15 p.m. PT, Harbinger CEO John Harris will speak on a panel titled Vehicle Innovation, where he will discuss transformative innovations in vehicle technology for fleet applications. The expo floor opened on Mon., May 20, in Las Vegas, Nevada and ends on Thurs., May 23.
About Harbinger Harbinger is a commercial electric vehicle (EV) company on a mission to transform an industry starving for innovation. Harbinger’s best-in-class team of EV, battery, and drivetrain experts have pooled their deep experience to support the growing demand for medium-duty EVs. Leveraging a foundation of proprietary, in-house developed vehicle technologies designed specifically for commercial and specialty vehicle applications, Harbinger is bringing a first-of-its-kind EV platform to market, priced at parity to gasoline and diesel vehicles. Harbinger: familiar form, revolutionary foundation.
Funding will accelerate Expressable’s market leadership and growing partnerships with leading health plan and provider groups
AUSTIN, Texas, May 21, 2024 — Expressable, the market leader in research-based, family-centered speech therapy care, announced today it raised $26 million in Series B funding led by global investment firm HarbourVest Partners, with participation from Digitalis Ventures and existing investors F-Prime Capital and Lerer Hippeau.
Expressable’s novel speech therapy solution integrates virtual services with its comprehensive education and technology platform.
The financing will support efforts to enhance the company’s technology-enabled care delivery platform, expand their clinical network of W2-employed speech-language pathologists, and accelerate a growing roster of health plan and provider partnerships across the country.
“Speech therapy has transformational impacts on a child’s life, yet too many children today are left severely underserved risking delayed outcomes and cost-intensive care,” said President and Chief Clinical Officer Leanne Sherred, M.S. CCC-SLP. “We’re grateful to HarbourVest and all of our investors for sharing in our mission of reinventing the current standard of care, a critical endeavor given speech therapy’s tremendous impact on healthy childhood development.”
Decades of research support family-centered care as the gold standard in improving pediatric speech outcomes, yet millions of children in the United States remain untreated or undertreated. Children with speech and language impairment suffer increased risk of learning disabilities, behavioral disorders, poor academic achievement, and impacts on socio-emotional health.
Expressable integrates virtual services with its comprehensive education and technology platform, empowering caregivers to incorporate therapy techniques into the home for faster positive outcomes and more cost-effective care.
“We’re thrilled to partner with Expressable as they continue to scale their category-defining speech therapy solution for this growing market need,” said Michael Guiness, Principal at HarbourVest. “Generating better outcomes through their novel care model is a win-win for patients, payers, and providers that aligns incentives and addresses disparities in access.”
Since 2020, Expressable has been leading the way in developing a better care model that improves the patient experience, with over 90% of patients achieving clinical progress towards their established care plans and thousands of 5-star reviews.
Expressable has partnered with hundreds of health plans nationwide, including Medicaid, to make high-quality therapy more accessible to everyone in need. Their therapy platform is now available in all 50 states to millions of families and individuals with timely, in-network coverage.
To learn more about Expressable and its offerings visit www.expressable.com.
About Expressable
Expressable is a virtual speech therapy provider committed to expanding access to quality services for everyone in need. Expressable has pioneered a family-centered and research-based care model that uses technology and education to integrate speech therapy techniques into children’s daily lives, improving outcomes and experiences. For more information, please visit www.expressable.com.
About HarbourVest
HarbourVest is an independent, global private markets firm with over 40 years of experience and more than $125 billion of assets under management as of December 31, 2023. Our interwoven platform provides clients access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure, and private credit. Our strengths extend across strategies, enabled by our team of more than 1,150 employees, including more than 230 investment professionals across Asia, Europe, and the Americas. Across our private markets platform, our team has committed more than $59 billion to newly-formed funds, completed over $53 billion in secondary purchases, and invested over $39 billion in direct operating companies. We partner strategically and plan our offerings innovatively to provide our clients with access, insight, and global opportunities.
About Digitalis
Digitalis Ventures backs founders solving critical problems in health. The firm invests in early-stage companies across life sciences, health technology & services, and animal health with the goal of supporting them through multiple rounds of financing. Digitalis is headquartered in New York City.
