LAUSANNE, Switzerland, May 8, 2024 — Testmate Health, a pioneer in at-home testing solutions, has secured USD $6 million in seed funding to develop an industry-first, low-cost, over-the-counter (OTC), self-test for sexually transmitted infections (STI), starting with chlamydia and gonorrhea. 

Current tests for these most commonly reported notifiable infections in the United States require in-clinic office visits and results can take days. Testmate Health’s simple urine test is designed to provide lab-quality results at home in under 30 minutes. 

Testmate Health founder and CEO Siew-Veena Sahi, M.D. is an expert in sexual health diagnostics. Her research at the World Health Organization emphasized the absence of cheap and accurate STI tests, leading her to develop Testmate’s revolutionary urine-based DNA platform detection technology. This seed round, led by RH Capital, with participation from The Helm, Zürcher Kantonal Bank, Amboy Street Ventures, Lichtsteiner Foundation, and Dartlabs.io, will enable Testmate to speed up product development and market validation. “We want to help end the silent epidemic of sexually transmitted infections for chlamydia and gonorrhea,” says Sahi. “Through Testmate’s low-cost, DNA platform detection technology, we’re empowering individuals to take control of their sexual health with accessible, accurate, and easy self-testing solutions.” 

Elizabeth Bailey, lead investor from RH Capital, noted, “We believe Testmate’s approach to at-home STI testing addresses a critical healthcare need to improve access to essential diagnostics while ensuring the highest standards of accuracy and privacy.” 

In the United States, 1 in 5 people have an STI and 85% of these infections are asymptomatic. Left untreated, chlamydia and gonorrhea are two of the leading infective causes of infertility worldwide.

Discreet testing available over-the-counter is expected to dramatically increase disease detection and treatment, reducing the possibility of infertility, chronic pain, and complications during pregnancy and childbirth. Testmate’s proprietary STI self-test will be the first to make at-home STI testing as ubiquitous as an at-home pregnancy test.

About Testmate Health
Testmate Health is developing the first OTC self-test for common STIs. They can be used anywhere at any time, providing highly accurate, lab-quality results in less than 30 minutes.  The company was founded in 2021 and is comprised by a team of experts in sexual health and diagnostics. 

About Siew-Veena Sahi, M.D.
Dr. Siew-Veena Sahi is on a groundbreaking mission to eradicate STIs through the world’s first rapid, urine-based at-home STI test. Early in her career, Dr. Sahi’s public health focus led her from maternity care to the forefront of STI prevention.  While attending medical school in the UK, her path took a pivotal turn towards addressing the silent epidemic of STIs. Her research at the World Health Organization on the accuracy of tests used to detect chlamydia infections in asymptomatic pregnant women underscored the urgent need for better STI diagnostics. This work laid the foundation for Testmate Health’s innovative approach to STI testing. Dr. Sahi’s work has been recognized by the prestigious IMD, and she has received awards from the W.A. de Vigier Foundation and Venture Leaders Medtech.

Contact:
Kelly Brezoczky
(831) 275-0759
[email protected]

SOURCE Testmate Health

SILVER SPRING, Md., May 8, 2024 — Through the power of technology and AI, inride’s new consumer to dealer app is revolutionizing the automotive industry by offering customers the option to auction their cars to the highest bidding dealership and provide dealers with unprecedented access to quality pre-owned inventory. 

The new inride auction app launched May 1, 2024.

“We are thrilled to now bring car owners and dealers together through a unique online auto auction experience, ensuring customers the ability to cash in their ride with this industry-leading software platform,” said Alex Perdikis, DC based automotive executive and inride founder.

Created in partnership with software development company Blue Altair, vehicle owners can now opt to auction their vehicle with inride’s national network of dealers, who will bid on their car, risk-free. inride handles everything from beginning to end, including transfers, transactions and vehicle pick-up to ensure a seamless, secure and hassle-free process.

“We are very excited to see our collaborative efforts come to fruition with the release of this cloud-based platform,” said Nilesh Dhingra, founder and CEO of Blue Altair.

Offering further assurance to inride’s network is the inclusion of Cooley LLP, a prominent firm serving technology start-up companies, as one of their specialties.

“The inride team has combined its deep experience in the legacy automotive industry with its experience in the SaaS software sector to build a platform that is poised to transform an industry. This will be a win-win for consumers and dealers alike,” said Mike Lincoln, driving force in the tech world and Vice Chair of Cooley LLP.

For more information, visit www.inride.com or contact [email protected].

Facebook: @inrideapp Twitter: @inrideapp IG: @inrideapp

SOURCE inride

Wipro Ventures also participated in Kognitos’ latest Series A Funding Round

SAN JOSE, Calif. and BENGALURU, India, May 8, 2024 — Wipro (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company and Kognitos Inc., a leader in Generative Al Automation and a portfolio company of Wipro Ventures, today announced a collaboration to deploy enterprise ready GenAI-based Business Automation Solutions. In addition to this, Wipro Ventures, Wipro’s corporate investment arm, invested in Kognitos as part of the firm’s Series A funding round.

Wipro’s Digital Operations and Platforms business line will leverage Kognitos’ platform to drive productivity in large transformation engagements. The platform will automate complex business process workflows for Wipro’s customers in use cases like order management, contact center, and finance and accounting services. The Financial Shared Services team at Wipro will also use the platform to manage multiple processes like Collection Accounting and complex reconciliations.

“Generative AI is already becoming a key pillar for business process automation, and we are excited about this engagement.” said Jasjit Singh Kang, Senior Vice President and Business Head, Digital Operations & Platforms, Wipro Limited. “The Kognitos platform leverages enterprise-ready, safe, AI and will enable us to help our customers reimagine their business processes and achieve operational efficiencies at scale.”

Kognitos empowers end users to automate business processes using plain human language, making English the new “code.” Its Natural Language Processing capabilities facilitate ease of deployment, ability to handle a wider range of use cases, and moves exception handling to the business user, reducing the burden on IT. 

“It is becoming imperative for all large enterprises to not just deploy AI, but to empower their employees to govern it well. Wipro is leading the charge of delivering enterprise-grade safe AI for mission-critical business automation by leveraging our auditable, scalable and hallucination-free automation platform. This alliance further advances our mission of bringing safe AI to the world.” said Binny Gill, Chief Executive Officer, Kognitos.

As part of this initiative, Wipro will also establish a Center of Excellence and train its associates globally to deploy the solution from Kognitos for enterprise customers.

About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With nearly 240,000 employees and business partners across 65 countries, we deliver on the promise of helping our clients, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com 

About Kognitos
Kognitos is the first company to enable generative AI to automate end to end enterprise business processes. Founded in 2020, the company set out to address one of the biggest challenges for today’s businesses, automating intricate processes and workflows. Rather than forcing business managers to think like developers, Kognitos uses natural language processing automation (NLPA) and large language models (LLMs) such as ChatGPT to enable business users to build automated workflows using everyday English. Kognitos is bringing seamless automation to billions of business users worldwide. For more information, visit https://www.kognitos.com 

Media Contact:
Wipro Limited
[email protected] 

Kognitos
[email protected] 

Forward-Looking Statements
The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.

Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

SOURCE Kognitos

HELSINKI, May 8, 2024 — Kiilto Ventures has invested in Burgdorf-based Cleantech startup Yuon to help accelerate market adoption of their predictive, self-learning heating control system designed to optimize heating networks. Compared to traditional heating control systems, Yuon can help reduce energy consumption and CO2 emissions by up to 25%.

Decarbonising heating – A climate imperative

Heating is the main use of energy by households in the European Union (EU), accounting for 64.4% of final energy consumption in the residential sector in 2021. As the transition to sustainable heating solutions continues and is reinforced by regulatory efforts targeting net-zero emissions, there is a growing emphasis on energy efficiency and optimization to reduce CO2 emissions.

“Over the last few years, there has been a lot of focus on optimizing electricity networks, now is the time to optimize heating systems. We aim to revolutionize heating control systems by providing software to operate district heating networks efficiently. This will not only have a direct impact on reducing CO2 emissions but also boost our transition to net-zero,” says Yuon CEO & Co-Founder Dr. Sebastian Hersberger.

Automatically optimizing the heating demand of buildings and networks

Youn’s robust software equips utility providers with tools to fine-tune their grid, leading to improved performance, reduced CO2 emissions, lowered operational expenses, and informed business choices.

“We aim to make our heating control system the new European standard for heat management,” adds Hersberger.

Considerable positive impact for the built environment

“We are really impressed of what the Yuon team has already achieved, and we believe they can scale this to a global solution, starting from Central Europe where the problem is most acute. We are happy to be support their efforts,” says Head of Kiilto Ventures Matti Rönkkö.

Yuon clinched the top spot at the 2023 ClimateLaunchPad Regional Final Europe, underscoring the acknowledgment of their innovative and impactful green business concept.

“At Kiilto Ventures, we are actively seeking the largest opportunities in moving the needle for maximum positive planetary impact for a better built environment. Recognizing heating as a major contributor to emissions, innovations like this hold significant potential to drive meaningful impact in tackling this challenge head-on.” 

Kiilto Ventures, the Helsinki-based VC of Kiilto, invests in and supports early-stage startups tackling the biggest problems of the built environment which is currently responsible for 39% of global energy related carbon emissions.

Yuon Control AG, a Burgdorf-based Cleantech startup, offers an advanced and predictive heating control system designed to optimize heating networks. The solution involves creating a digital model of the grid and each building connected to the district heating network, which happens in real-time and fully automated, i.e., AI-based. The solution involves collecting data, such as weather data and consumption forecasts, to create digital models and other input

For more information, please contact:

Matti Rönkkö, Head of Kiilto Ventures 
Kiilto Ventures 
[email protected] 

Dr. Sebastian Hersberger, CEO and Co-Founder 
Yuon Control AG
[email protected] 

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

https://news.cision.com/kiilto/r/swiss-startup-yuon-control-ag-secures-funding-to-boost-needed-innovation-in-heating-sector,c3974592

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• Since 2019, NSG BioLabs has been a leader in co-working lab spaces in Singapore, and has nurtured over 40 biotech companies, of which the startups have achieved nearly US$400 million funding in total alongside significant business milestones
• NSG BioLabs’ partnerships with EnterpriseSG and Merck enable the company to enhance its offerings to residents, with the goal of supporting its residents’ innovation and R&D endeavours
• NSG BioLabs has also secured strategic investment of US$14.5 million, led by Celadon Partners, an Asian private equity firm and ClavystBio, a life science investor and venture builder set up by Temasek
• Fresh funding will be used to augment NSG BioLabs’ infrastructure, services, and benefits for residents, as well as support the expansion of its co-working laboratory and office spaces

SINGAPORE, May 7, 2024 — NSG BioLabs, Singapore’s largest provider of biotech co-working laboratory and office space, announces partnerships with Enterprise Singapore (EnterpriseSG), the Singapore government agency championing enterprise development, and Merck, a leading science and technology company, to bolster the biotech landscape by providing needed resources such as funding, expertise and networks to advance startup research and development (R&D). The company also successfully concluded a US$14.5 million financing round led by Celadon Partners, an Asian private equity firm, and ClavystBio, a life science investor and venture builder set up by Temasek to accelerate the commercialisation of breakthrough ideas to health impact. These achievements reaffirm NSG BioLabs’ strength and expertise in providing high-quality, well-managed, and turnkey Biosafety Level 2 (BSL-2) certified laboratory and office spaces. Moreover, these milestones underscore NSG BioLabs as an ecosystem catalyst, providing value-add services and networks, which are important in driving scientific innovation and business growth.

Since 2019, NSG BioLabs has been assisting innovators in creating impactful solutions in the health, biomedical, agrifood, and industrial biotechnology sectors, working in areas such as precision medicine, nucleic acids, AI-enabled drug discovery, and synthetic biology. With the largest co-working biotech laboratory and office footprint in Singapore, coupled with extensive networks with partners, suppliers and industry experts, NSG BioLabs has helped over 40 companies as residents. The company’s residents include several multi-billion-dollar multinationals as well as many promising startups that have achieved key milestones. The startup residents alone have successfully raised nearly US$400 million in funding and supported hundreds of jobs.

“NSG BioLabs is committed to supporting innovators and proud to have helped in Singapore’s growing biotech ecosystem. Our partnerships with EnterpriseSG and Merck signify the importance of a collaborative spirit, and we hope to spur greater collaboration among other stakeholders to benefit the biotech industry in Singapore and the Asia Pacific region,” said Daphne Teo, CEO and Founder of NSG BioLabs, “Also, we are thankful for the recognition from our strategic investors, Celadon Partners and ClavystBio, and look forward to further empowering our residents in their innovation efforts through expanded facilities, enhanced value-add offerings, and greater exposure to valuable industry networking and mentorship experiences.”

NSG BioLabs has been part of EnterpriseSG’s Startup SG Accelerator programme since 2019^[1]. NSG BioLabs is excited to announce its renewed partnership with EnterpriseSG to invest in and nurture more high-potential biotech startups, in particular, expanding support for those with promising innovations in fields such as precision medicine, with the aim of fast-tracking the development and commercialisation of such deep tech solutions.

“Singapore’s biotech landscape has evolved significantly, with a burgeoning community of global startups and doubled healthtech deals in 2023^[2]. EnterpriseSG will continue to work with industry partners like NSG BioLabs to drive the development of new deep tech innovations such as AI-enabled platforms and targeted therapies by providing patient capital, infrastructure and expertise. This will strengthen Singapore’s edge in precision medicine and revolutionise healthcare delivery,” said Dr Clarice Chen, Director of Healthcare and Biomedical, EnterpriseSG.

To further its mission of supporting biotech innovators, NSG BioLabs also closed a US$14.5 million strategic investment round, led by Celadon Partners with participation from ClavystBio. With these fresh funds, NSG BioLabs intends to enhance its product and services and to introduce additional facilities to meet the growing demands of biotech startups and multinational companies in Singapore and Southeast Asia.

“As the Southeast Asia biotech sector experiences tremendous growth driven by healthcare needs, we are confident that NSG BioLabs’ innovative co-working model can offer compelling solutions for biotech startups and companies across the region. NSG BioLabs’ dedication to empowering companies to fast-track their research and development efforts is commendable,” said Donald Tang, Managing Partner at Celadon Partners.

“ClavystBio is excited to foster the growth of Singapore’s life science ecosystem through our support of NSG BioLabs, and its resident startups. This investment reinforces ClavystBio’s mission to accelerate breakthrough science into health impact through venture building, and strategic partnerships,” said Khoo Shih Ph.D. Chief Executive Officer at ClavystBio.

As a key platform in the region with established and growing scale, NSG BioLabs fosters mutually beneficial connections between its residents and other key parties. To further enable its residents to develop, grow and scale-up, NSG BioLabs has secured a partnership with Merck to provide its residents special terms for Merck’s reagents, and equipment in life sciences. The partnership also includes preferential access to biopharma processing expertise and consultation for scaling-up production.

Since its inception, NSG BioLabs has been supporting biotech startups and multinational companies by providing BSL-2 certified private and shared laboratory spaces and offices, equipment, as well as, privileged access with service providers and suppliers, and community engagement. After its first site opening in November 2019, NSG BioLabs expanded with its second site in August 2021, and recently 2023 with its third site. Now, with three sites totaling 35,000 square feet, NSG BioLabs cements its space as a key hub for biotech innovation. As one of the largest private biotech incubators in the region, coupled with its recent partnerships and strategic investors, NSG BioLabs is poised to enhance its value-add offerings of infrastructure, services, and networks to its growing community.

About NSG BioLabs

Founded with a focus on supporting biotech innovation, NSG BioLabs offers state-of-the-art equipment, efficient operations, capital efficiency, the expertise of world-class teams and global networks to assist life sciences companies. The conducive R&D environment contains fully-equipped, certified BSL-2 laboratory and office infrastructure across 35,000 sq ft in the prime location of Biopolis in Singapore. 

By providing access to high-quality infrastructure, its extensive partner network, community, and value-add benefits, NSG BioLabs ensures that companies, ranging from emerging biotech startups to multinational companies, can rapidly and efficiently execute on their cutting-edge research and development ecosystem in Singapore, leading to the innovation of revolutionary technologies and products that translate into breakthrough biotech ventures and impact for patients.

For more information, visit www.nsgbio.com

SOURCE NSG BioLabs

SAN FRANCISCO, May 7, 2024 — XR tech startup OPTIX announced that it has closed its oversubscribed Pre-A funding round led by Primavera Venture Partners. Existing investors Lanchi Ventures also participated, bringing OPTIX total equity raise to US$15M. The investment is OPTIX’s third funding round in less than two years since the company was established in August 2022. OPTIX Angel round was led by Lanchi Ventures with participation from Vlight Capital.

OPTIX develops cutting-edge optics technology and offers advanced solutions for the next-gen AR and VR products. With technology as its core, OPTIX focuses on VR Pancake in-house design and fabrication, and AR waveguide technologies including Geometric Waveguide, SRG Waveguide, and VHG Waveguide.

OPTIX dives deep into the underlying physical principles, materials, equipment, and fabrication processes to ensure high-quality standards and to deliver the best product to meet customers’ extremely high expectations.

“Optics plays a crucial role in XR hardware. The technology itself is very challenging because it needs to be highly integrated with other subsystems, at the same time, be manufacturable at mass production scale”, Gary Yan, Founder and CEO of OPTIX said on the fundraising announcement, “Our goal is to provide the ultimate optical experience, and to create outstanding AR and VR products in collaboration with world-leading customers and industry partners.”

“We are excited to be backed by Primavera Venture Partners, Lanchi Ventures, and Vlight Capital. Their wealth of experience, foresight, and strong support are essential for us to achieve long-term goals,” said Yan.

The new funding comes on a heel of a rapid growth year for OPTIX. The company has established its own laboratory and manufacturing process, and has been simultaneously focusing on key optics technologies for both AR and VR. Within weeks of Apple releasing its first headset Vision Pro in June 2023, OPTIX published their VR Pancake optical module, which has a resolution of 8K binoculars, and a field-of-view that is larger than Vision Pro for more than 15 degrees. The extremely delicate picture and 3D display effects have been unanimously recognized by many customers worldwide. Next step, OPTIX will further integrate gaze tracking, foveated rendering and PB Lens into the iterated pancake module, and AR waveguide module will be launched in Q3 2024.

Primavera Venture Partners said “The VR and AR market holds immense potential in the long term. The continuous strategic development of VR and AR by global technology leaders has not only marked a significant turning point for the industry, but it has also shown us the vast possibilities of VR and AR in transforming our daily lives. The breakthrough of products hinges upon the advancement of core optical module technology. OPTIX, backed by its full-stack team in optical module design and process and its solid understanding of technology, has independently developed its unique technical advantage and specialization. OPTIX’s products have gained recognition from many renowned brands for its industry-leading optical performance. We look forward to seeing OPTIX leveraging its capabilities in terminal design and supply chain technology to better support the industry in overcoming bottlenecks in optical solutions and enrich our everyday life through the lens of XR technology.”

Lanchi Ventures said “XR devices are expected to become the next generation of mobile computing platforms, with tremendous potential market space. Leveraging years of experience in XR optics and innovative display technology, OPTIX team has accumulated research experience from top-tier tech companies. They possess full-stack capabilities from fundamental optical design and material selection to mass production. We believe that the team can continue to insightfully observe industry development trends and promote bottom-up technological innovation.”

About OPTIX
Founded in August 2022, OPTIX develops cutting-edge optics technology and offers advanced solutions for the next-gen AR and VR products. OPTIX dives deep into the underlying physical principles, materials, equipment, and fabrication processes to ensure high-quality standards and to deliver the best product to meet customers’ extremely high expectations. OPTIX has gained strong support with a $15 million commitment to date from world-leading investors including Primavera Venture Partners, Lanchi Ventures and Vlight Capital.

About Primavera Venture Partners
Primavera Venture Partners (“PVP”) is an early-stage investment platform under Primavera Capital Group that focuses on artificial intelligence and its related vertical applications, as well as new generation technology, healthcare and advanced manufacturing related opportunities. PVP’s mission is to partner with the most visionary founders and use AI to solve some of the world’s toughest problems. Its portfolio includes ModelBest Intelligent Technology, SiEngine Technology, Subtle Medical, Accession Therapeutics, Kira Learning, Noah Medical, Dimension, Navier, Aurora Yaocheng, Analytical Biosciences, Accutar Biotech, Xbiome and JanaEnergy, etc.

About Lanchi Ventures
Lanchi Ventures is a leading early-stage venture firm headquartered in Singapore. The firm was founded by Jui Tan, who was then the General Partner at BlueRun Ventures, a global venture capital firm headquartered in Silicon Valley. Lanchi Ventures focuses on investing in entrepreneurs who create a sustainable impact through technological innovations. With over $2 billion in assets under management, the firm has invested in over 200 portfolio companies.

About Vlight Capital
Vlight Capital is a professional investment institution focusing on future emerging industries, adhering to the concepts of value investment and industry chain investment. It mainly invests in the fields of new energy, new materials, intelligent connectivity, intelligent manufacturing, VR/AR, artificial intelligence and other software and hardware, as well as cross-border innovation between automobile and technology, energy, logistics and transportation. Vlight Capital is committed to connecting technological innovation with industrial transformation, helping entrepreneurs realize their entrepreneurial visions and create business value through investment. Its portfolio includes WELION New Energy, Seyond, DeepWay, Casstime, PaXini Technology, Tsing Standard, INSNEX and Yuanbao Tech, etc.

SOURCE OPTIX

BIRMINGHAM, Ala., May 7, 2024 — Acclinate, a trailblazer in mobilizing diverse communities for enhanced health equity, today announced its $7 million Series A financing round. Led by Cencora Ventures, with notable contributions from Labcorp and Latimer Ventures, the funding will enable Acclinate to scale its impact in the clinical trial diversity and health equity landscapes.

“This investment marks a significant milestone for Acclinate and underscores our commitment to revolutionizing health equity and clinical trial diversity at a larger scale,” expressed Del Smith, CEO and Co-Founder of Acclinate. “With the backing of prominent healthcare organizations like Cencora and Labcorp, we are poised to accelerate tangible change in the healthcare industry and empower diverse communities to proactively manage their health.”

Acclinate is focused on driving diversity in clinical trials with a unique community engagement platform trusted by top pharmaceutical clients to help make existing trials more inclusive and plan more diverse studies moving forward. Cencora Ventures, formerly known as AB Health Ventures, is the corporate venture fund originally started by AmerisourceBergen prior to becoming Cencora, a leader in global healthcare solutions. The fund both invests and provides commercial support to emerging healthcare startup companies and brings unparalleled expertise and resources to this strategic partnership. This funding will help fuel Acclinate’ s expansion and enhance its already powerful Enhanced Diversity in Clinical Trials (e-DICT) platform.

As Acclinate continues to pioneer initiatives aimed at inclusivity and equity in healthcare, this infusion of capital propels its mission forward, bringing us one step closer to a future where healthcare is truly accessible to all.

About Acclinate
Acclinate is a digital health company that leverages a unique combination of sustained community engagement and predictive analytics to improve health equity. Acclinate’s community platform helps pharmaceutical companies increase diversity in their clinical trials and other healthcare organizations support inclusivity in their initiatives. For more information on Acclinate, visit www.acclinate.com.

About Cencora
Cencora is a leading global pharmaceutical solutions organization centered on improving the lives of people and animals around the world. We partner with pharmaceutical innovators across the value chain to facilitate and optimize market access to therapies. Care providers depend on us for the secure, reliable delivery of pharmaceuticals, healthcare products, and solutions. Our 46,000+ worldwide team members contribute to positive health outcomes through the power of our purpose: We are united in our responsibility to create healthier futures. Cencora is ranked #11 on the Fortune 500 and #24 on the Global Fortune 500 with more than $250 billion in annual revenue. Learn more at www.cencora.com.

For media inquiries or additional information, please contact:
Tiffany Whitlow
Cofounder/Chief Development Officer
[email protected]
256-435-2800-office
256-322-2387-cell

SOURCE Acclinate

The funding positions the company to increase access to and enhance its innovative app and teletherapy services for children and adolescents struggling with mental health challenges

ELKRIDGE, Md., May 7, 2024 — Backpack Healthcare (formerly Youme Healthcare), an online pediatric mental healthcare provider, announced today that it has raised a $14 million Series A funding round led by PACE Healthcare Capital with participation from ECMC, Techstars, Collab Capital, Bridge Builders Collaborative, Portland Seed Fund, Hopelab, Rethink Education, Genius Guild, and Unlikely Collaborators, along with notable angel investors including Maya Ghosn Bichara and Jeffrey Walker. The pioneering health technology company, led by Founder & CEO Hafeezah Muhammad, is utilizing cutting-edge AI to transform pediatric mental health care and address the escalating youth mental health crisis, with a particular focus on medicaid-enrolled youth.

Over 40 million children in the U.S. rely on Medicaid or CHIP for healthcare coverage, yet only 14% of mental health clinicians accept Medicaid as insurance, highlighting the urgent need for accessible solutions. In response to this pressing issue, Backpack Healthcare is developing innovative and inclusive solutions with its AI-powered app and teletherapy services to provide indispensable support to all young individuals navigating mental health challenges. The company strategically works with insurance providers that accept Medicaid, bridging the gap between the limited number of Medicaid-accepting providers and those in need.

“The funding we have raised underscores the U.S. healthcare system’s need for more inclusive, tech-enabled solutions to tackle the growing pediatric mental health crisis,” said Hafeezah Muhammad, Founder & CEO of Backpack Healthcare. “This milestone will help us deliver on our commitment to breaking down barriers and ensuring equitable access to mental health support for all children, regardless of their socioeconomic status.”

Backpack Healthcare’s AI-powered app uses advanced algorithms to monitor user emotions to match them with specialized therapists for tailored treatment plans. The app provides an engaging experience through interactive tools and activities that make therapy enjoyable, encouraging active participation.  Additionally, Backpack Healthcare provides individual pediatric and family therapy and medication management through telemedicine, and also provides live parent training sessions on topics such as cyberbullying and substance abuse.

The capital raised in this round will be used to enhance Backpack Healthcare’s technology platform, expand its reach to more communities, and further develop its teletherapy services. With current operations in Maryland and Virginia, and plans for expansion to additional states on the horizon, Backpack Healthcare is committed to making its innovative solutions accessible to a wider audience. Additionally, the company aims to continue its research and development efforts to ensure that its solutions remain at the cutting edge of AI innovation, while forging partnerships with healthcare companies, government agencies, and schools to deliver high-quality care to those in need.

“Investing in pediatric mental health is a truly unique opportunity: it is not just about driving returns, it is about nurturing brighter futures for millions of underserved children and investing in the resilience of our society tomorrow. We could not be more thrilled to lead Backpack Healthcare’s Series A,” said Julia Monfrini Peev, Managing Partner, PACE Healthcare Capital. “We have so much conviction in Hafeezah Muhammad as a CEO; and no team is better suited to deliver quality, accessible, culturally competent mental health services for children like Backpack Healthcare”.

In addition to this funding round, Robert Johnson, ESQ, Chief Equity Officer at Bezos Academy, is joining Backpack Healthcare’s Board of advisors, bringing a wealth of experience as the former Chief Economic Inclusion Officer and General Counsel for YWCA Metropolitan Chicago, alongside corporate experience at McDonald’s Corporation. His leadership will be instrumental in guiding Backpack Healthcare’s initiatives towards greater inclusivity and equity.

About Backpack Healthcare

Backpack Healthcare is a pioneering technology company dedicated to revolutionizing pediatric mental health care. Formerly known as Youme Healthcare, the company offers an innovative app and teletherapy services designed to provide accessible, inclusive, and comprehensive mental health support for young individuals. Led by Founder & CEO Hafeezah Muhammad, Backpack Healthcare is committed to making a positive impact on the lives of children and adolescents struggling with mental health challenges. To learn more about Backpack Healthcare and its innovative solutions for pediatric mental health care, visit www.hellobackpack.com.

About PACE Healthcare Capital

Founded in 2020 and based in Chicago, IL, PACE Healthcare Capital is an early-stage venture capital firm focused on investing in companies that have developed high-impact solutions to critical healthcare challenges. With decades of combined experience and $1B+ of capital raised and deployed in healthcare, PACE applies institutional-grade investment processes to identify the best entrepreneurs and deploy financial and human capital to help them grow their business. PACE is a 100% women and/or diverse-owned investment firm.

Media Contact for Backpack Healthcare: 
Sylvia Mugo
[email protected]
443-776-1203

SOURCE Backpack Healthcare ( Formerly Youme Healthcare)

SAN FRANCISCO, May 7, 2024 — Numeric, an AI-powered accounting automation company, has raised $10 million in a Seed round from Founders Fund, Menlo Ventures, 8VC, Long Journey, Friends & Family Capital, and more to fuel product development and hiring.

Numeric has quickly become a leader in accounting automation. Hundreds of private and public companies – including Brex, Plaid, and Wealthfront – leverage Numeric to perform technical accounting research, proactively flag data discrepancies, draft variance explanations, and automate recurring month-end close processes.

“AI has created an opportunity to rethink accounting workflows and to build a new generation of truly intelligent software”, states Parker Gilbert, CEO and Co-Founder of Numeric. “With this funding, we’re building towards a future where accountants will be able to automate their most recurring work and focus instead on empowering their business to make the best decisions. Increasingly, accounting teams’ primary role will be of editor, interpreter, and architect of the financial operations system.”

Today accountants invest years in CPA certification and ongoing education, only to spend much of their time buried in spreadsheets and data entry. And with a growing nationwide accountant shortage, more than ever teams are understaffed and overworked.

“Numeric has transformed how we close our books each month by helping to cut down on manual work and avoid digging into spreadsheets— unlocking time back to focus on strategic work. It provides me great visibility into my team’s workload and the progress of our month-end close. We’re excited to see what’s in store in the upcoming months” shared current customer Jane Rudneva, Senior Director of Accounting and Deputy CFO at Wealthfront.

The additional funding will fuel R&D hiring as the company continues new product development, building towards a future where every accountant will have an AI-assistant, enabling them to focus on the strategic, advisory, and analytical aspects of their work.

“We believe Numeric is setting a new standard for what technology can achieve in accounting. With an aggressive pace of progress integrating AI and rapid growth with new customers, Numeric is quickly becoming an indispensable tool for the modern accounting team. We are thrilled to be a part of their journey” states Lee Jacobs, General Partner at Long Journey.

Numeric was founded in 2020 after CEO, Parker Gilbert, was leading a finance and accounting team and felt buried under the manual work involved in the month-end close. Recognizing the potential of AI to transform accounting, Gilbert and co-founders Anthony Alvernaz and Andrew Bihl, set out to build the platform Gilbert had longed for in previous finance roles. Today, Numeric brings together engineers and accountants from some of the most innovative and fast-growing businesses.

About Numeric

Numeric is an AI accounting automation platform, built to take manual work off accountants’ plates so they can focus on what’s impactful. Founded in 2020 by co-founders Anthony Alvernaz, Parker Gilbert, and Andrew Bihl, Numeric is headquartered in San Francisco and New York.

For more information, visit https://www.numeric.io/

SOURCE Numeric