COPENHAGEN, Denmark, Dec. 11, 2023 — Hoba Therapeutics, a Novo Holdings-founded Danish biotech company dedicated to developing novel therapeutic proteins for patients living with chronic neuropathic pain and hearing loss, today announced that it has raised EUR 23 million (USD 25 million) in a Series A financing first close. The financing was co-led by Indaco Venture Partners and Medical Incubator Japan, and includes investments from current investors Novo Holdings, Eir Ventures, and the Export and Investment Fund of Denmark (EIFO). In the syndicate is also The European Innovation Council Fund with an investment as part of the Accelerator funding program under Horizon Europe.

Hoba Therapeutics is developing HB-086 for the treatment of chronic neuropathic pain conditions.

Neuropathic pain represents a significant unmet medical need, affecting more than 400 million patients worldwide. HB-086 is a non-opioid compound with a unique mode of action, targeting the underlying cause in the peripheral nervous system to reverse neuropathic pain. A comprehensive preclinical data package demonstrated a fast onset and long-acting analgesic effect, and also the ability to prevent the development of neuropathic pain. The proceeds of the Series A first close will enable Hoba Therapeutics to advance HB-086 through late pre-clinical development to the completion of Phase 1 clinical studies in patients for painful Chemotherapy-Induced Peripheral Neuropathy (CIPN). The indication is selected as a gateway indication into chronic neuropathic pain disorders and is a painful, often debilitating condition caused by cancer treatment with certain chemotherapy drugs.

“We are thrilled to close the first round of the Series A,” said Torsten M. Madsen, CEO of Hoba Therapeutics. “This is an experienced investor syndicate backing Hoba Therapeutics. In addition to the participation of our current investors, we have strengthened the syndicate with the participation of funds from Europe and Japan, along with strong support from The European Innovation Council Fund. This shows the shared perspective on the large unmet need we aim to fill and reflects our focus and commitment to help patients worldwide and we believe that these funds can contribute significantly to achieving our objectives.”

“Indaco is proud to have led this Series A round, together with Medical Incubator Japan, and we are excited to join Hoba Therapeutics as an investor,” added Goncalo Rebelo de Andrade, Partner at Indaco BIO Fund. “At Indaco, we give priority to companies that, like Hoba Therapeutics, are aimed at tackling the underlying causes of disease and are led by high-profile committed teams. In advancing pioneering pharmaceutical solutions, the leadership team at Hoba Therapeutics exhibits extraordinary expertise and commitment. While focusing firmly on both scientific excellence and patient benefit, they are well-positioned to make a substantial impact in healthcare.”

Camilla Petrycer Hansen, Principal, Seed Investments, Novo Holdings, said: “As a founding investor, we are excited about the prospects of Hoba Therapeutics. A staggering number of people globally endure the debilitating consequences of chronic pain every day, a vast issue largely neglected by the market due to a dearth of innovation in this field for many years. This unmet need is not only a burden for patients but also imposes significant costs on healthcare systems. Together with Eir Ventures and EIFO, we are delighted to welcome new investors into our syndicate, firmly believing in their substantial contribution to the continued progress of Hoba Therapeutics.”

Dr. Kenji Harada, Investment Officer at Medical Incubator Japan, expressed his excitement about the investment in Hoba, a Danish innovation: “It’s a great honour for us to take a co-lead position in this round. I firmly believe that Hoba Therapeutics’ programs will yield significant positive impacts on pain management and related therapies. This investment in an outstanding Danish company not only signifies our support, but also paves the way for future investments from Japan into Danish and other European biotech companies.”

Svetoslava Georgieva, Chair of the EIC Fund Board, said: “The EIC Fund has established itself as a strong force in EU deep-tech investments. This unique form of financing via EIC – combining grants and equity – is proving itself highly attractive to Europe’s most promising start-ups. Our investment will provide Hoba Therapeutics with means to help patients suffering from chronic neuropathic pain worldwide.”

About chronic neuropathic pain
Chronic neuropathic pain is a significant global health issue, affecting a substantial portion of the population worldwide. In Europe, the prevalence is estimated to be 6–8%^[1] of the general population. Chronic neuropathic pain represents an enormous personal and economic burden. Neuropathic pain is a chronic disorder resulting from damage or dysfunction of the nervous system. Causative factors are lesions in or disorders of the nervous system, such as injury, pressure, toxic agents (e.g., chemotherapy), viral infections, and metabolic disorders. These lesions lead to aberrant functioning of sensory nerve cells, resulting in a chronic, debilitating sensation of pain.

Chronic neuropathic pain is primarily managed with antidepressants (including TCAs, SSRIs, and SNRIs), antiepileptic drugs like pregabalin and gabapentin, and opioids. These medications modify pain perception and stabilise nerve cells, but their effectiveness varies widely among individuals, and they often fail to provide complete pain relief. Side effects, such as dizziness, tiredness, and addiction risks are major concerns. A major limitation is that these drugs generally don’t target the specific causes of neuropathic pain, and their efficacy is reduced when the underlying conditions, like nerve damage, cannot be treated effectively^[2],[3].

The complexity and variability of chronic neuropathic pain necessitates a multifaceted treatment approach and highlights the need for ongoing research and development of more effective and safer treatment options. The global neuropathic pain market is estimated to be valued at USD 7.6 billion in 2023 and is expected to exhibit a CAGR of 6.2% during the next seven years^[4].

About Hoba Therapeutics
Hoba Therapeutics is a Danish biotech developing restorative treatments for chronic pain disorders and hearing loss. Both indications have a clear unmet medical need for safe and efficacious treatments for millions of patients worldwide. Hoba Therapeutics is developing HB-086 for the treatment of chronic neuropathic pain. HB-086 is a non-opioid compound with a unique mechanism of action targeting the peripheral nervous system to reverse neuropathic pain and the underlying cause of the disease. The second drug candidate HB-097 is a pharmacological treatment for sensorineural hearing loss. Preclinical data of HB-097 show both a preventive effect of hearing loss by protecting nerve cells and a regenerative effect by reversal of already induced damage.

Hoba Therapeutics was founded in 2016 by Novo Holdings and Borean Innovation. Hoba Therapeutics received the Accelerator grant from the European Innovation Council in 2021 and the Grand Solution grant from Innovation Fund Denmark in 2018.

About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novozymes A/S and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure, and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seeds, Venture, Growth, and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.

As of November 2023, Novo Holdings had total assets of EUR 150 billion. 

www.novoholdings.dk

About The Export and Investment Fund of Denmark
The Export and Investment Fund of Denmark (EIFO) is the national promotional bank and export credit agency of Denmark combined in one financial institution. EIFO provides a single point of access for Danish companies as well as for their foreign and domestic business partners who need risk-tolerant government capital. EIFO wants to support the successful businesses which can grow the Danish economy and green the globe. We make the world Denmark’s business.

www.eifo.dk

About Eir Ventures
Eir Ventures I AB is a Nordic life science venture capital fund that invests in private companies with outstanding entrepreneurs developing transformative therapeutic approaches. The fund commenced its investment activities in 2020 and invests in opportunities addressing significant unmet medical needs for new therapies, medical technology, and digital health. Eir Ventures AB is led by a team of experienced life science investors and is supported by a strong investor syndicate consisting of leading local and international institutional investors and, uniquely, leading Nordic universities.  www.eirventures.eu

About Indaco Venture Partners
Indaco Venture Partners SGR is one of the largest independent Italian venture capital asset management companies, with over EUR 350 M in assets under management, focused on companies that innovate in electronics, robotics, new materials, medtech, biotech – pharma and digital. Indaco Bio Fund (around EUR 100 M) is exclusively dedicated to investing in the development of innovative pharmacological therapies, across all therapeutic indications but with particular attention to Oncology, CNS, Ophthalmology, Metabolic diseases, Virology, and Infectious diseases. Indaco is focused on the Italian Biotech sector with select investments in other European countries, USA, Canada, and Israel.

www.indacosgr.com

About Medical Incubator Japan
Medical Incubator Japan is a venture capital firm based in Japan specialising in investments within the biotech sector across the EU, Japan, and the US. Their investment portfolio encompasses pharmaceuticals, medical devices, diagnostics, and cutting-edge life science technologies driven by AI. Although their history is relatively concise, they currently manage approximately USD 50 M in assets. Medical Incubator Japan is on the brink of commencing investments from their newly established fund shortly.

www.medicalincubatorjapan.com/en/

About The European Innovation Council Fund
The European Innovation Council Fund from the European Commission is an agnostic Fund: it invests across all technologies and verticals, and all EU countries and countries associated to Horizon Europe. It provides the investment component of the EIC Accelerator blended finance. The European Investment Bank acts as investment adviser to the EIC Fund.

The EIC Fund aims to fill a critical financing gap and its main purpose is to support companies in the development and commercialisation of disruptive technologies, bridging with and crowding in market players, and further sharing risk by building a large network of capital providers and strategic partners suitable for co-investments and follow-on funding.

The Fund pays particular attention to the empowerment and support of female founders as well as the ambition to reduce the innovation divide among EU countries.

Hoba Therapeutics ApS
Ole Maaløes vej 3
Copenhagen
DK-2200

www.hobatherapeutics.com

[1] Neuropathic Pain: The Scope of the Problem – PMC (nih.gov)

[2] Neuropathic pain in adults: pharmacological management in non-specialist settings – NCBI Bookshelf (nih.gov)

[3] Pharmacotherapy for Neuropathic Pain: A Review – PMC (nih.gov)

[4] “Neuropathic Pain Market Analysis” by Coherent Market Insights

SOURCE Hoba Therapeutics

OXNARD, Calif., Dec. 8, 2023 — Bureo, a groundbreaking California-based B Corp that is on a mission to end fishing net pollution by providing fishermen with an end-of-life solution for discarded fishing nets, today announced it has closed a Series B investment in its latest funding round. The round was led by Toyota Tsusho Corporation and supported by Mirova, Ocean 14 Capital, Conservation International Ventures and Susquehanna Foundation. Tin Shed Ventures – Patagonia’s venture capital fund – was the initial seed investor in Bureo.

Since its founding in 2013, Bureo remains the only supplier for 100% recycled, wild caught and discarded fishing nets that are 100% traceable to the source. Bureo works directly with the fishing communities to provide the resources needed to responsibly dispose of their fishing nets when they are no longer of use. And through recent advancements in Bureo’s recycling process, the company is now able to convert the nets into a fully traceable, premium 100% recycled Nylon 6 material, called NetPlus, that rivals virgin Nylon 6 in durability and quality yet offers a proven reduction in environmental impact and lessens our reliance on virgin plastic.

“We feel a responsibility to bring our solution to more coastal communities around the world – and we are thankful for the increased recognition and resources to expand our work,” says Bureo co-founder David Stover. 

These recent investments will fund the growth of Bureo’s net collection and recycling operation to a growing list of global coastal communities. As of today, Bureo is on track to collect more than 3.3 million pounds of end-of-life fishing nets within 2023 for recycling through actively operating in seven countries across the Americas (United States, Mexico, Panama, Ecuador, Peru, Chile, Argentina). Increased funding will also go towards an advanced traceability system that will deliver fishing net source information through QR codes that can be tracked throughout the supply chain of NetPlus material. 

This funding round comes at a pivotal time for Bureo. As the company celebrates its 10th anniversary, it is also on track to represent 1% of the recycled Nylon fabric market globally, having collected more than 10 million pounds of discarded fishing nets for recycling to date. Companies currently using NetPlus recycled nylon in their products include Patagonia, Costa, Yeti, Rivian, Outerknown, Trek, Quicksilver, Orvis and more.

https://bureo.co/

Inquiries: [email protected]

SOURCE Bureo

Valley Enables Businesses to Automate Their Outreach and Sales Call Booking Processes.

GREENWICH, Conn., Dec. 8, 2023 — O’Shaughnessy Ventures LLC (“OSV”), a family office that invests in ambitious seed and pre-seed startups, announced today that it has invested in Valley.  

Founded in 2022 by Zayd Ali, Valley is an automated sales development representative that allows business leaders to leverage the power of AI in booking sales calls. Using Valley, businesses can automate their outreach and sales call booking processes in just a few easy steps, enabling them to expand their reach and generate more leads at a considerably lower cost.   

OSV’s founder, Jim O’Shaughnessy, commented; “AI has the potential to free businesses from countless menial tasks. Sales prospecting is certainly one of them. We believe Zayd is a superb, passionate young founder with the chance to make a real mark in the sector.”

“We are thrilled to welcome O’Shaughnessy Ventures,” said Valley founder & CEO Ali; “personally, it was a no-brainer for me given their team’s focus on technological exploration and positive-sum leaps in technology. After our first meeting with the team, there was an immediate alignment and mutual belief in our vision of the role technology has played throughout history in automating away monotony and robotism in both personal and professional life. We both believe sales is one of the areas most poised for that disruption and having them in our corner means we are in pole position to continue making that vision a reality.” 

About O’Shaughnessy Ventures

OSV is a family office that invests in ambitious seed and pre-seed startups. Founded by Jim O’Shaughnessy, a pioneer in quantitative investing, founder of O’Shaughnessy Asset Management, and author of four books on investing, OSV aims to provide financial support and to partner in growing the next life-changing ideas. For more information, visit https://www.osv.llc/.

Media Contact:
Ena Gong
O’Shaughnessy Ventures LLC
(917) 355-7420
[email protected]

SOURCE O’Shaughnessy Ventures, LLC

• ‘AI WAVE 2023’: Shaping the Future of Industries with AI, Offering a Platform for Investment Insights
• Steve Jang and Kanyi Maqubela, Kindred Ventures’ Managing Partners, Led the Discussions with the Leading AI Startups from Silicon Valley and Held Fireside Chats with SK Networks and SoftBank Ventures Asia’s Key Leaders.
  … The Session Continued with Discussions on the Outlook, Trends, and Strategies in the AI-Related Market by Three Hosting Companies.
• Sunghwan Choi, SK Networks President & COO, Unveils the Business-oriented Investment Company Model and SK Networks’ AI Investment Strategy
• Live Demonstration of Humane’s ‘AI Pin’ Invested in Late 2022 Signals the Imminent Rise of Next-Gen Communication Devices and Personal Co-Pilot Devices
• “Our Commitment to Innovation: Enhancing Financial Story Completeness and Elevating Investor Value”

SEOUL, South Korea, Dec. 8, 2023 — SK Networks, a key player in investments targeting promising future sectors like artificial intelligence (AI) and data, jointly organized a forum presented by Kindred Ventures, envisioning the transformative future of AI. The event brought together global leaders to discuss the trajectory of the AI market and the development of a robust ecosystem.

On December 8th, SK Networks (CEO: Ho-Jeong Lee) announced the successful hosting of “AI WAVE 2023,” a collaborative effort held at Wavehill, Walkerhill Hotel & Resort. Presented by Kindred Ventures and in partnership with SK Networks and SoftBank Ventures Asia, which have formed in-depth cooperative relationships with SK Networks in the global investment sector, the event facilitated insightful discussions in the AI domain. It drew in approximately 150 industry experts, including representatives from startups and investment firms, both at home and abroad.

AI WAVE 2023, which took place on the afternoon of December 7th, served as a platform to showcase trends and investment strategies in the AI field. Additionally, the event featured an Investor Relations (IR) meeting that spotlighted global technology startups such as ‘Perplexity,’ an interactive AI search engine startup, Extropic, a physics-based AI startup, and ‘Hour One,’ a generative video AI SaaS provider.

As the host of the forum, the Founder and Managing Partner of Kindred Ventures took the stage at the podium and explained the purpose of the event, saying, “This will be a time to explore how AI is shaping the future of consumer internet, mobile computing, and supercomputing.”

Following this, the three companies, Kindred Ventures, SK Networks, and SoftBank Ventures Asia, have also established a program for open and collaborative discussions on AI prospects, trends, and strategies.

Joonpyo Lee, the CEO of SoftBank Ventures Asia, expressed his expectations for future AI trends, stating that “AI technology is expected to evolve in a more customized way, with an increasing number of entrepreneurs who possess expertise in various fields combining their strengths with AI to drive innovation.

SK Networks President & COO Sunghwan Choi delved into the company’s transformative journey marked by strategic partnerships and investments in the AI sector. He elaborated on SK Networks’ innovative evolution into a business-oriented investment company, with a specific focus on digital transformation (DT) domains like AI.

In a significant strategic shift, SK Networks, operating through the U.S. investment corporation ‘Hico Capital,’ has been actively engaged in substantial investments. Since 2020, the company has been channeling funds into hyperscale data center investments, contributing to noteworthy entities like the AI-based device startup ‘Humane,’  the unmanned tractor automation solution company ‘Sabanto,’ and the smart farm startup ‘Source.ag.’. This robust investment strategy has empowered SK Networks to strengthen its network and internal capabilities within the dynamic AI industry. In a decisive move to bolster its competencies, the company recently completed the acquisition of ‘Encore,’ a leading domestic data solution management firm. This strategic acquisition is poised to significantly amplify the potential for creating data-driven AI synergy across SK Networks’ headquarters and subsidiaries, opening up lucrative avenues for additional strategic investments.

President Choi remarked, “With the anticipated transformative impact of AI on industries at large, we are actively incorporating this technology into our operations to spearhead changes in our business model and pave the way for new avenues of growth.” He further emphasized, “SK Networks plans to enhance the ecosystem related to future industries, including AI, to expand its role as a ‘Global Innovation Gatekeeper’.”

The event highlighted a live demonstration of Humane’s AI Pin, a cutting-edge device and software platform startup jointly invested by Kindred Ventures and SK Networks. Imran Chaudhri, Co-Founder of Humane, personally showcased the functionality of the AI pin, roughly the size of a pocket watch, seamlessly integrating OpenAI and proprietary and open source AI models. Kicking off with the screen activation triggered by a laser emitted from the AI pin when the palm is placed nearby, attendees on-site were captivated by diverse features, including voice and touch capabilities for calling and texting, AI technology-driven e-mail summarization, real-time translation of English and Spanish conversations, and providing calorie information upon recognizing food. Anticipation for Humane’s AI Pin as a next-generation communication and personal co-pilot device has surged, drawing comparisons to the impact of smartphones. Humane is strategically gearing up for global market penetration, with its official launch slated for early next year, starting in the U.S.

SK Networks has announced its commitment to hosting future events, providing a platform to share insights into the evolving industrial landscape with investment partners, fostering mutual growth. Furthermore, the company is enhancing its global investment system to strengthen the foundation for future growth and drive innovation across its businesses through AI and data. Simultaneously, efforts are underway to enhance the comprehensiveness of the company’s financial narrative, facilitating a clearer understanding of the future vision for both members and shareholders. SK Networks is dedicated to a continued pursuit of innovation, aiming to garner consensus from stakeholders.

An official from SK Networks affirmed, “We are devoted to consistently generating value for our investors, going beyond organizing influential global forums in Korea alongside Kindred Ventures and SoftBank Ventures Asia, leading entities in global technology investments, including AI.” He underscored, “It is important to have a democratic and liberal AI, so we will enhance the SK Networks ecosystem to discover a Korea-based foundation model company and help it enter the global market.

SOURCE SK Networks

Platform includes expertise in finance, technology, media and sports

SEATTLE, Dec. 7, 2023 — Today, Ackerley Sports Group (“ASG”) announced the launch of an investment platform focused on investment in the future of sports and media.  On the back of their investment in Leeds United FC, the new platform will invest in sports teams, leagues, and growth stage sports technology on a global basis. 

Ackerley Sports Group is an expansion of the investment practice established in 2002 by Ted and Chris Ackerley at Ackerley Partners.  Over four decades, Ackerley Partners owned all or a part of a number of professional sports franchises, including the Seattle SuperSonics, the Seattle Storm, the Seattle Seadogs, the Seattle Seawolves, the Coachella Firebirds and most recently the launch of the 32nd NHL franchise, the Seattle Kraken. 

“We created Ackerley Sports Group because we are witnessing a rapid technology-fueled change across the sports and media landscape.  Historically there was not much overlap between the sports / media ecosystem and the tech sector.  Now, sports and technology have become intertwined like never before. Technology companies are disrupting the sports and media landscape by changing how we play and how we engage with media and athletes. Technology companies are also embracing the unique power of sports to bring communities together. We’re seeing these change around the world,” said co-founder, Ted Ackerley.

“Ackerley Sports Group will benefit from the strong team we have put together and the relationships built over many decades of impactful business building.  We will partner with athletes and sports executives to source off-market investment opportunities and enhance outcomes. Sports, media and entertainment have traditionally been very gated and closely held industries. We will leverage our vast partner network and experience across multiple markets to help create new connectivity between sports, technology, and media,” said Ackerley Sports Partners co-founder, Chris Ackerley.

Additionally, ASG recently participated as partners and investors in the ownership transition of Leeds United Football Club (LUFC) which saw 49ers Enterprises assume majority control of the club.

“We are excited to have Ackerley Sports Group and their history in professional sports as owners, partners, and operators, join our group as stewards of Leeds United,” said Paraag Marathe, Chairman of Leeds United Football Club.

49ers Enterprises, the strategic investment arm of the San Francisco 49ers, has been a minority investor in Leeds since 2018. 49ers Enterprises expanded their investment in 2021 and, as of this summer, took over 100% ownership of the club with investment from Ackerley Sports Group, among others.

Capital Eleven has joined Ackerley Sports Group as an LP in the LUFC SVP.  Notable athlete participants in the Ackerley Partners SPV include:

Cliff Avril, Seattle Seahawks (retired)
James Dayson, Professional Race Car driver
David Forst, Oakland A’s (General Manager)
Cameron Hewes,  Ballard FC (Owner)
Jed Kaplan,  Memphis Grizzlies (Minority Owner)
Alex Smith,  San Francisco 49ers (retired)
Malcolm Smith, Seattle Seahawk (retired SB MVP)
Brady Quinn, NFL QB (Retired)

About Ackerley Sports Group
Ackerley Sports Group is an expansion of the investment practice established in 2002 by Ted and Chris Ackerley at Ackerley Partners.  Over four decades, Ackerley Partners and the Ackerley family have owned all or a part of a number of professional sports franchises, including the Seattle SuperSonics, the Seattle Storm, the Seattle Seadogs, the Seattle Seawolves, the Coachella Firebirds and most recently the launch of the 32nd NHL franchise, the Seattle Kraken. 

SOURCE Ackerley Sports Group

PARIS, Dec. 7, 2023 — Actility, a French company recognised as a global leader in low-power industrial IoT connectivity solutions, is announcing today a funding round of $17.3 million. This new financing will consolidate its leadership position in the global LPWAN (Low-Power Wide Area Networks) market as it enters a phase of accelerated growth.

“Due to its vast-reaching and industrial nature, the maturation of IoT technology took longer than anticipated. However, we have now entered a phase of steady growth, with enterprise adoption nearly doubling each year, propelled by widespread digitization. AI cannot operate without data, and our technology anchors AI to the real world across numerous industries,” affirms Olivier HERSENT, founder and CEO of Actility. 

An Expanded Commercial Strategy for Enterprises

This funding comes amid a strong market recovery for IoT and a strategic expansion of the company to serve the enterprise market. Founded in 2010 by a team of seasoned tech entrepreneurs, who played a pivotal role in transitioning voice communication to Internet-based technologies, Actility foresaw that the next tech revolution would be driven by massive IoT deployment.

Harnessing real-time field data, Actility unlocks AI’s full potential to foster more sustainable agricultural and industrial practices through increased agility, optimization of processes to reduce waste, and risk reduction and mitigation.

Olivier Hersent, CEO and co-inventor of LoRaWAN technology and a founding board member of the LoRa Alliance, initially positioned Actility as a primary partner for service providers rolling out industrial-scale LPWAN networks for uses like metering, smart lighting, logistics, and beyond. Recognizing the growing demand for robust, scalable IoT solutions, the company broadened its suite of offerings with the introduction of ThingPark Enterprise, catering to enterprise and private LoRaWAN deployments. This comprehensive, multi-technology platform not only supports unlicensed radio networks such as LoRaWAN but is also at the forefront of emerging private cellular networks like CBRS. It seamlessly integrates field operations with cloud-based AI, ensuring data consistency and compatibility.

Leveraging on the strength of the ThingPark Enterprise platform for large scale industrial IoT, the company has developed a network of 100 resellers worldwide. As the IoT market matures, Actility is positioning as a consolidator and has made strategic acquisitions, including Abeeway, the expert of indoor-outdoor multi-technology geolocation, and more recently Acklio for its SCHC technology which expands the applicability of the well-known IP protocol to the LPWAN domain.

According to marketsandmarket.com, the IoT LoRa and LoRaWAN market is expected to reach $25.5 billion in 2028, up from $5.6 billion in 2023, with an average annual growth rate of 35.3%.

Actility sets the pace in the LPWAN market, connecting upwards of 4 million devices and overseeing ThingPark-operated LPWAN networks with in excess of 40,000 base stations. With a year-over-year growth rate for enterprise networks exceeding 75%, Actility’s momentum is double that of the industry average, demonstrating its continued market share expansion and role in consolidating the IoT ecosystem.

The ThingPark platform seamlessly integrates across diverse sectors, enabling smart city innovations in energy, water, and waste management, enhancing industrial efficiency with equipment and fleet tracking, and advancing smart agriculture practices, worker safety, as well as healthcare through patient monitoring and elderly care.

“LoRaWAN is the WiFi of IoT. Our potential market is very deep, with an estimated 2 million-plus private networks worldwide. Our distributors and partners have secured large accounts, including major players like Bouygues—one of Europe’s largest construction groups, the visionary Red Sea smart city project in Saudi Arabia, and energy sector giants such as PowerCo in New Zealand and Total in Europe. Most of these large accounts gradually deploy across multiple sites and for multiple use cases. More accounts, more sites, more use cases—this is the formula for our accelerated growth in the coming years.” emphasizes Olivier HERSENT.

This latest fundraise follows the company’s €70 million raise in 2017 with major telecom operators (Orange, KPN, Inmarsat, Foxconn, Swisscom), Venture Capital (BPI, BNP Paribas, Ginko Ventures, Indinvest), and industrial players (Bosch, Cisco, Mulliez Creadev). Actility used the funds to accelerate the development and deployment of its industrial IoT solutions, increase its R&D team and develop new roaming solutions and make key acquisitions to supercharge its growth.

Looking ahead, Actility is committed to leveraging this new funding to further its core mission: catalyzing a more sustainable economy through the widespread adoption of IoT. By making IoT ubiquitous, Actility aims to digitize industries globally, fostering efficiency, safety, and environmental stewardship for our planet’s future.

Investor Quotes

“Delighted to support Actility in this next step towards success, driven by accelerating growth in the IoT market and mature applications, both in the deployment of connected devices and in communication networks,” says Edouard Combette, Director of Investments at Bpifrance.

About Actility
Actility is the world leader in low-power wide-area networks (LPWAN) industrial-grade connectivity solutions for the Internet of Things. Actility provides its ThingPark™ platform and network technology to deploy, operate and maintain public and private wireless IoT networks within a unified, scalable and versatile network infrastructure. The vast majority of nationwide LoRaWAN® network service providers (nearly 60) and hundreds of enterprises trust ThingPark™ all over the world. Through its subsidiary Abeeway, Actility also provides patented ultra-low power tracking solutions. ThingPark Market offers the largest selection of interoperable IoT gateways, devices and applications to simplify and accelerate deployment of numerous use cases.

Media Contact:

Khloé Lewis
[email protected]

SOURCE Actility

Clinical programs supported by close of oversubscribed Series B Financing

MILWAUKEE, Dec. 7, 2023 — Rivermark Medical, a company dedicated to developing a novel therapeutic device for benign prostatic hyperplasia (BPH), announced today the full enrollment of its RAPID-II clinical trial, a multi-center OUS clinical trial with sites in Australia, New Zealand, and Mexico. The trial is funded by the company’s oversubscribed Series B financing which closed earlier this year and was led by Anduril Investors LLC, a physician-founded investor group, with participation from existing investors View Ventures and Cadence Healthcare Ventures.

“We are excited by the efficient enrollment of our RAPID-II clinical trial. This trial enables us to capture robust real-world evidence, which will demonstrate the efficacy of our technology for patients afflicted with BPH,” stated Adam Kadlec, M.D., President and CEO of Rivermark Medical. “All procedures were performed in the outpatient setting, utilizing a variety of flexible cystoscopes, and all patients were discharged without a post-operative catheter. We are thrilled with these early observations as they solidify FloStent’s unique position amongst therapeutic devices for BPH.”

BPH is a non-cancerous condition caused by an enlarged prostate, impacting the quality of life in approximately 1 in 3 men over the age of 50. It can lead to uncomfortable symptoms such as frequent urination, difficulty urinating, and urinary tract infections (UTIs). Existing therapies may result in persistent symptoms, diminished sexual function, increased risk of infection, and a challenging recovery process for patients. Rivermark’s FloStent System is a uniquely engineered nitinol stent that gently holds the prostatic urethra open to restore normal urinary flow while preserving sexual function. The device is designed for rapid patient relief with minimal discomfort, can be deployed using any flexible cystoscope during an outpatient visit, and offers fewer complications and minimal recovery time.

“Rivermark is revolutionizing the BPH treatment paradigm with a device that offers therapeutic intervention at the time of diagnosis,” stated Dr. Matt Ercolani, co-founder and managing partner of Anduril Investors LLC, and key opinion leader for several BPH treatment options currently on the market. “As an investor and clinician, I believe the technology’s ability to provide immediate relief for patients while seamlessly integrating into routine urological visits will be game-changing for the treatment of BPH.”

About Rivermark Medical
‍Rivermark Medical was founded by a practicing urologist to develop the preferred first-line device therapy for benign prostatic hyperplasia. The FloStent System enables physicians to treat patients safely and efficiently, with minimal discomfort and reduced complications. The FloStent System is the first product Rivermark Medical plans to bring to market. For more information, please visit www.rivermarkmedical.com.

SOURCE Rivermark Medical

Les investigateurs cliniques terminent le recrutement des 177 patients de l’étude randomisée et contrôlée STAND (A Clinical Evaluation of the MicroSTent PeripherAl Vascular SteNt in subjects with Arterial Disease Below the Knee, NCT03477604).

WILMINGTON, Mass, 7 décembre 2023 — Micro Medical Solutions (MMS), un innovateur dans le domaine de l’intervention microvasculaire visant à améliorer les résultats cliniques et la qualité de vie des patients souffrant de CLI/CLTI, a annoncé aujourd’hui qu’elle avait terminé le recrutement de son étude clinique pivot aux États-Unis évaluant la sécurité et l’efficacité du système MicroStent par rapport à la norme de soins actuelle, PTA (angioplastie transluminale percutanée). Le système MicroStent a déjà obtenu le marquage CE pour une utilisation dans l’EEE.

STAND (A Clinical Evaluation of the MicroSTent PeripherAl Vascular SteNt in subjects with Arterial Disease Below the Knee) a recruté son dernier patient au début du mois, marquant ainsi la fin de l’étude. Le MicroStent est un stent vasculaire spécifiquement conçu pour obtenir et maintenir la perméabilité de l’artère tibiopéronière, améliorant ainsi le flux sanguin et la cicatrisation des plaies pour la réduction de l’amputation sous le genou chez les patients souffrant d’ischémie critique des membres (CLI) résultant d’une maladie artérielle périphérique (MAP) évolutive.

« Je tiens à remercier les investigateurs et les équipes de recherche pour leur dévouement, leur participation, leur collaboration et les efforts considérables qu’ils ont déployés pour aider cette population de patients complexe et difficile. Je suis ravi de continuer à apporter mon expertise en matière de recherche à l’entreprise et de discuter des résultats de l’étude lorsqu’ils seront disponibles », a déclaré l’investigateur principal, le Dr Robert E. Beasley des Palm Vascular Centers à Miami Beach, en Floride.

« L’ILC/ICT est la manifestation clinique la plus grave de la MAP. Nous sommes impatients de voir les données se développer pour mieux comprendre l’impact de l’intervention endovasculaire dirigée par l’angiosome et son impact sur la cicatrisation des plaies, le sauvetage des membres et l’indépendance de vie des patients. Nous remercions chaleureusement les patients qui ont participé à l’étude. L’objectif de l’étude a toujours été de démontrer un taux d’amputation plus faible, réduisant ainsi le taux de mortalité dévastateur associé à la perte d’un membre », a commenté Rita Jacob, vice-présidente des affaires cliniques.

« Il s’agit d’une avancée encourageante pour MMS, pour les millions de patients qui luttent chaque jour contre l’ILC et pour les cliniciens qui traitent et soignent ces patients », a déclaré Gregory Sullivan, PDG de MMS. « MMS a développé la plateforme MicroStent en réponse aux besoins des patients, et nous sommes ravis de nous rapprocher de la mise en place de MicroStent dans les mains des interventionnistes américains qui traitent l’infarctus du myocarde ».

Pour en savoir plus sur Micro Medical Solutions, visitez le site www.micromedicalsolutions.net.

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The joint venture between TIFIN and Hamilton Lane, launched in June 2023, provides an AI assistant that allows advisors and investors to navigate the private markets with more confidence

BOULDER, Colo. and NEW YORK and CONSHOHOCKEN, Pa., Dec. 7, 2023 — Helix by HL, the innovative generative AI assistant revolutionizing private market investing, announced today the successful completion of its Seed+ funding round with a raise of $6 million at a post-money valuation of $26 million. The round was led by FINTOP Capital, a prominent venture capital firm known for its strategic investments in cutting-edge financial technology.

Helix, originally announced in June 2023, is a joint venture between TIFIN, the leading AI platform for wealth, and Hamilton Lane, a globally renowned private markets investment manager. The private markets-focused platform, powered by Hamilton Lane’s proprietary data and industry expertise, aims to simplify alternative investing and empower wealth advisors with the tools and insights needed to navigate this complex asset class. Helix is designed for future integration within wealth platforms and digital marketplaces used by advisors and investors seeking allocations to the private markets.

The funding round represents a significant milestone for TIFIN’s TIFIN.AI initiative, which co-develops new AI platforms with leading financial services firms to enhance its partners’ capabilities and impact in the rapidly evolving landscape of AI-powered wealth technology.

“We are thrilled to announce the addition of FINTOP to our capital partners and look forward to their contribution towards our goal of making Helix a must-have for all users of private investments,” said Dr. Vinay Nair, Founder and CEO of TIFIN. “This investment is a testament to our vision to bring cutting-edge AI technology to the world of wealth.” 

“We are pleased to partner again with FINTOP, as we share a common objective: driving technological innovation and broadening access within the private markets,” said Griff Norville, Managing Director and Head of Technology Solutions at Hamilton Lane. “As a firm, we believe that data-driven decision-making can help deliver superior investment results for investors around the world. Through the creation and application of Helix by HL, we aim to empower the growing set of wealth managers and other private wealth professionals allocating to the private markets.”

FINTOP Capital, the lead investor in the round, has a strong track record of supporting innovative fintech companies. This investment is also part of JAM FINTOP’s strategy to help banks enhance their wealth management offerings by democratizing access to alternative assets. Their strategic investment in Helix underscores the potential they see in the platform to redefine this space. The funds raised are expected to accelerate product development, enhance platform features, and expand Helix’s market presence.

“We are thrilled to be partnering with TIFIN and Hamilton Lane in the launch of Helix by HL. FINTOP has a long history and successful track record in private markets technology and this is a natural fit for us,” said FINTOP Capital Managing Partner Rick Kushel.

For more information about Helix by HL and its innovative AI-driven platform, please visit https://helixbyhl.com/.

About Helix by HL

Helix by HL is the first-of-its-kind generative AI assistant for the private markets industry and is set to redefine the landscape of alternative investment innovation. It combines TIFIN’s technological expertise with Hamilton Lane’s industry-leading database that draws on more than $16.7 trillion in private market commitments across 51 vintage years, along with an expansive library of expert, research-based market analysis, as of September 30, 2023. Helix provides data-centric information around private markets benchmarking, forecasting, and diligence and will help educate private wealth investors and their intermediaries on the asset class and current trends within the private markets. 

About TIFIN

TIFIN is an AI and innovation platform for better wealth outcomes. Founded by Dr. Vinay Nair, TIFIN creates and operates new companies that apply data science, AI, and technology to address frictions in wealth and asset management. TIFIN’s companies have included 55ip (sold to JP Morgan) and currently include Magnifi, TIFIN Wealth, TIFIN AMP, TIFIN Give, Paralel, Sage, Helix by HL, TIFIN@Work, and TIFIN India. TIFIN has been backed by JP Morgan, Morningstar, Hamilton Lane, Franklin Templeton, Motive Partners, and Broadridge among others.

About Hamilton Lane
Hamilton Lane (Nasdaq: HLNE) is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs nearly 700 professionals operating in offices throughout North America, Europe, Asia Pacific, and the Middle East, as of September 30, 2023. Hamilton Lane has $854 billion in assets under management and supervision, composed of over $119 billion in discretionary assets and nearly $735 billion in non-discretionary assets, as of September 30, 2023. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors and geographies. For more information, please visit www.hamiltonlane.com or follow Hamilton Lane on LinkedIn: https://www.linkedin.com/company/hamilton-lane/.

About FINTOP Capital
FINTOP Capital is a venture capital firm focused on early-stage FinTech companies. With over $700 million in committed capital across five funds, FINTOP brings decades of FinTech founding and operating experience to the boardroom, partnering with innovative entrepreneurs to push the frontiers of the financial services sector.

For media inquiries, please contact:
Michael Walsh
[email protected]

The information contained herein should in no way be construed or interpreted as a solicitation to sell or offer to sell advisory services. All content is for informational purposes only.

Forward-Looking Statements

Some of the statements in this release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Words such as “will”, “expect”, “believe”, “estimate”, “continue”, “anticipate”, “intend”, “plan” and similar expressions are intended to identify these forward-looking statements. Forward-looking statements discuss management’s current expectations and projections relating to our financial position, results of operations, plans, objectives, future performance and business. All forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause actual results to be materially different. You should evaluate all forward-looking statements in the context of the risks and uncertainties disclosed under the heading “Risk Factors” in Part I, Item 1A of Hamilton Lane’s Annual Report on Form 10-K for the fiscal year ended March 31, 2023 and subsequent reports filed from time to time with the Securities and Exchange Commission. The forward-looking statements included in this release are made only as of the date hereof. Hamilton Lane undertakes no obligation to update or revise any forward-looking statement as a result of new information or future events, except as otherwise required by law.

SOURCE TIFIN