With additional backing from top-tier strategic and financial investors, the company’s dry electrode battery manufacturing technology reduces CO2 emissions, speeds the battery manufacturing process, and reduces cost for an expanding global EV market

CHELMSFORD, Mass., Dec. 4, 2023 — AM Batteries, a pioneer in the field of lithium-ion dry-electrode technologies, today announced it closed a $30M Series B in an oversubscribed funding round led by Toyota Ventures. New investment combines strategic corporate support from Porsche Ventures and Asahi Kasei, with financial investment from RA Capital Management – Planetary Health, Wilson Sonsini, and Industry Ventures. The round also includes existing investors such as Anzu Partners, TDK Ventures, Creative Ventures, Doral Energy-Tech Ventures, Foothill Ventures, and Zeon Ventures.

As the electrification wave sweeps across industries from electric vehicles to renewable energy storage, the conventional “wet-coating” battery electrode production method is increasingly recognized as a disadvantage due to the energy consumption that arises from the drying process. In contrast, AM Batteries’ dry battery electrode (DBE) process uses a “powder to electrode” method that reduces the number of steps to make a battery electrode from seven steps to four by removing the need for electrode drying and solvent recovery. This reduces cost, time, and energy while eliminating the need for harmful solvents – ultimately catalyzing the growing EV demand. All in all, this change is critical for the commercialization of greener batteries – and helpful to OEMs and cell makers as they search for the best option to reduce the cost of EVs for mass market adoption.

As more sustainability-focused gigafactories dot the world in places like Asia, Europe, and the United States, efficiencies in battery manufacturing are paramount. With strong commercial traction from tier-one battery producers, AMB’s funding from a robust set of strategic and financial investors will help the company develop and drive the commercialization of dry powder coating technology and equipment for low-cost lithium-ion battery manufacturing.

“Our approach has the potential to reduce energy usage and CO2 emission by 40% in the battery manufacturing process, creating an overarching net positive for the massive exponential growth of the EV market,” said Lie Shi, CEO of AM Batteries. “Our Series B brings in additional strong strategic, financial, and automotive industry investment as well as continued backing from our incredible existing investors. We’re honored to pioneer and commercialize an increasingly critical piece of battery manufacturing. DBE technology is the single largest step a manufacturer can take to reduce manufacturing costs, and these benefits are continuing to garner attention and adoption.”

“We are thrilled to lead AM Batteries’ Series B given the impressive progress on critical technical and business milestones since our participation in its Series A,” said Lisa Coca, Climate Fund partner at Toyota Ventures. “Batteries are integral to the energy transition, and AM Batteries’ dry electrode technology creates a necessary pathway for wide-scale deployment with a dramatically reduced CO2 emissions profile. We look forward to supporting this seasoned team on this important mission.”

“Battery manufacturing improvements are critical for meeting growing EV industry demands. Ultimately, we need solutions to lower production costs to make EVs affordable and accessible,” said Kyle Teamey, managing partner, Planetary Health at RA Capital Management. “At the same time, these critical solutions need to overcome the challenges traditional battery manufacturing processes create for our planet, such as high energy consumption and the use of harmful substances that impact environmental quality. AM Batteries’ technology delivers on all of this with unprecedented capital efficiency, performance, and seamless system integration needed to unlock the scale of battery production demanded by 2030.”

AM Batteries has raised over $60M to date and recently hired two well-respected industry veterans. New at the helm is CEO Lie Shi and former President of Celgard, a world-renowned membrane technology company based in the U.S. that invented and commercialized solvent-free, dry-process microporous membrane separators for lithium-ion batteries, and Hieu Duong as Chief Manufacturing Officer, who is a world-renowned dry electrode expert and former Tesla director whose experience includes leadership roles furthering battery technologies at Maxwell Technologies, GE, Zpower, and Quallion. Shi will lead AM Batteries’ team and further their groundbreaking battery coating process while Duong will be responsible for driving the development and commercialization of the dry powder coating technology and equipment for low-cost lithium-ion battery manufacturing.

For more information, please visit https://am-batteries.com/.

About AM Batteries
AM Batteries, headquartered in Chelmsford, MA, focuses on higher throughput dry-electrode manufacturing for lithium-ion batteries. Compared to the conventional slurry-casting approach, AM Batteries’ technology completely eliminates solvent recovery and electrode drying, which can reduce the energy consumption of a battery plant by more than 40% and save up to 40% in capital expenditures in electrode manufacturing, while reducing the plant’s carbon footprint by nearly 40%. Beyond this, AM Batteries’ technology paves the way for higher energy density, faster charging, and lower-cost lithium-ion batteries. AM Batteries’ future-proof manufacturing technology can be leveraged for multiple types of battery-electrode fabrication. For more information, visit https://am-batteries.com.

Media Contact:
Elizabeth Byington
[email protected] 

SOURCE AM Batteries

VoLo Earth, Caterpillar, Equinor Ventures and MM Catalyst Fund headline scale-up of the world’s only modular Electro-Extraction metals refining technology

BOSTON, Dec. 4, 2023 — Nth Cycle, the innovative critical metals refining company, has closed $37 million in Series B and an additional $7 million in non-dilutive financing, led by VoLo Earth Ventures, a Colorado-based venture firm focused on climate solutions; MassMutual through the MM Catalyst Fund I, which invests in rural-based and Black-led businesses based in Massachusetts; Caterpillar Venture Capital Inc., a wholly-owned subsidiary of Caterpillar Inc., the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives; and Equinor Ventures, the venture capital arm of Equinor, a multinational energy company. Nth Cycle recently received two Department of Energy awards including $3 million from the Advanced Materials & Manufacturing Technologies Office (AMMTO) to drive the innovation required to strengthen America’s competitiveness in a global net-zero economy.

Nth Cycle’s patented Electro-Extraction technology replaces conventional and energy-intensive pyrometallurgy, also known as smelting, with a clean and modular refining system, aptly named The Oyster. Nth Cycle partners with industrial scrap recyclers, miners, and original equipment manufacturers (OEMs) to take a variety of feedstocks, including black mass, primary ore concentrates, and waste streams and refines them into metal products for the domestic clean energy economy.

Recently, Nth Cycle announced that it would be the first company in the United States to offer a domestic nickel mixed hydroxide product (Ni MHP), helping the country to meet the goals of establishing a domestic supply of critical metals crucial for the growth of electrification infrastructure established by the Inflation Reduction Act (IRA). Nth Cycle’s Ni MHP product can help accelerate a path for EV automakers to meet domestic supply mandates set by the IRA with the benefits of transparent oversight and compliant material.

Since the company’s initial seed financing in 2021 and Series A funding round in 2022, Nth Cycle scaled its technology to commercially deploy its systems in 2022 and introduced its premium domestic Ni MHP product, in early 2023, which is expected to be the first Ni MHP offered in the United States. The financing will be used to support Nth Cycle’s commercialization through a new partner testing facility, commercial team growth and headquarters expansion.

“Caterpillar’s collaboration with Nth Cycle supports our commitment to helping our customers achieve their climate-related objectives and establishing a circular value chain,” said Rod Shurman, Senior Vice President of Electrification and Energy Solutions at Caterpillar. “Wherever possible, we keep resources in the Caterpillar value chain through a circular flow of materials, energy and water. Nth Cycle’s Electro-Extraction refining technology can help get valuable materials back into the supply chain.”

“Ensuring sustainable and secure access to materials will only grow in importance as the energy transition accelerates. Since Equinor Ventures first invested in Nth Cycle last year, we have been continuously impressed by the quality of the team and the potential of the technology. We are looking forward to continuing our support of Megan and the Nth Cycle team as we work to shape the future of energy,” says Lars Klevjer, Head of Equinor Ventures.

“Nth Cycle has developed an efficient, adaptive solution that solves a number of key pain points for its customers while delivering significant value by transforming waste products to high-purity materials,” said Jason Allen, Portfolio Manager of Impact Investments at MassMutual. “The company’s revolutionary technology, positive environmental impact, and founding team positions it to become a pillar for the cleantech ecosystem.”

“As an investor, we look for segment-leading technologies that enable break-out businesses and finance models. Nth Cycle’s modular Electro-Extraction enables advantaged development of operating assets with firm off-take agreements and 6-9 month deployment cycles. In the coming months we look forward to Nth Cycle addressing cost and technology gaps for some of the largest battery recycling developers, OEMs and chemical companies,” said Joseph Goodman, Ph.D., Managing Partner of VoLo Earth Ventures. “We are pleased to once again partner with Megan and Nth Cycle’s amazing team.”

“Refining has long been the obstacle to a broader sustainable and closed-loop metal supply chain in the U.S. and E.U., which is why we set out to solve that problem, while offering a complementary solution for recyclers,” said Megan O’Connor, Ph.D., CEO and Co-Founder of Nth Cycle. “In just three years, we have grown out of the lab and into a commercial facility with new deployments of our modular Oyster units in the near future. Building critical relationships with our investors, partners and policymakers has been a key part of Nth Cycle’s rapid growth to scale, and that commitment continues with this financing.”

About Nth Cycle
Nth Cycle is a metal refining company focused on reduction opportunities across the metal supply chain. Our patented Electro-Extraction technology provides a sustainable solution for OEMs, miners, and scrap recyclers to reduce waste, emissions, supply chain constraints, and the time needed to electrify our world. Nth Cycle’s unique refining technology transforms metal feedstock including scrap, waste streams, primary ore concentrate, and end-of-life electronics components into high-purity critical metals within a modular unit, aptly named The Oyster. Nth Cycle empowers our partners to bridge the gap between demand and supply of the metals necessary to transform our world and keep critical metals in production forever.

SOURCE Nth Cycle

HOUSTON and NEW YORK, Dec. 4, 2023 — energyRe, an independent U.S. clean energy developer, today announced that it has raised a $1.2 billion capital package to support the expansion of its large-scale renewable energy portfolio comprising utility-scale transmission and storage, onshore wind and solar generation, and offshore wind. energyRe will leverage these strategic investments to advance its mission of decarbonizing American cities with abundant, affordable clean power and modern, well-connected electric grids.

“energyRe’s world-class renewable energy portfolio and team have earned the trust of institutional investors and are more ready than ever to advance the U.S. transition,” said Jeff Blau, Chairman and Founding Partner of energyRe. “We look forward to leveraging our experience and expertise to deliver reliable clean power and advance a sustainable, carbon-free American future.”

“energyRe is at the forefront of America’s energy transition and delivering the necessary renewable infrastructure to meet our urgent climate and sustainability goals,” said Miguel Prado, Chief Executive Officer of energyRe. “We are uniquely focused on decarbonizing U.S. cities and hard-to-abate energy load centers with state-of-the-art electric grids that unlock new sources of clean power across the country. These investments, as well as strategic synergies with our new and current partners, will support energyRe’s robust development pipeline as well as further innovation and expansion in our portfolio. This is a clear commitment from leading institutional investors that believe in energyRe’s mission, growth, and momentum. We thank our partners and look forward to working together to meet America’s clean energy needs.”

The raise announced today comprises committed capital investments in energyRe LLC from Glentra Capital alongside co-investors Novo Holdings and Denmark-based pension fund PKA. Glentra will leverage its track record in developing and constructing renewable energy assets in the U.S. to support the energyRe team in expanding its development pipeline and delivering on its ambitious growth plan. In addition, a firm agreement has been reached with Elia Group for the acquisition of a stake in a subsidiary of energyRe: energyRe Giga. The European transmission specialist will be offering all of its expertise and experience in the development, construction, operation and maintenance of offshore transmission infrastructure; HVDC technology; transmission planning; and congestion management to the partnership.  The capital package also includes a mandated corporate debt facility to be arranged by Santander and Deutsche Bank.

energyRe’s diversified portfolio of renewable assets includes a development pipeline spanning seventeen states and comprises more than 500 miles of high-voltage direct current (HVDC) transmission; 10.5 GW of solar, wind, and storage; and more than 155 MW of distributed generation.  

Catherine Vandenborre, Interim CEO of Elia Group, said: “Through this agreement, Elia Group (via WindGrid USA) is entering the U.S. markets alongside an established partner with a solid portfolio of projects. This partnership with energyRe Giga is part of Elia Group’s growth strategy in Europe and the United States, since the Group is focused on expanding its activities abroad and strengthening the development of sustainable energy solutions. This partnership marks a strategic step towards Elia Group establishing itself as an internationally renowned expert in the field of electricity transmission.”

Henrik Tordrup, Managing Partner at Glentra, said: “As a value-add investor in the energy transition, Glentra is delighted to invest in energyRe with like-minded investors. We have followed the company for several years and are big believers in their strategy and management team. The company is set for a valuable growth journey as they deliver their unique project pipeline and provide massive decarbonization for hard to abate regions of America.” 

The co-investors Novo Holdings and PKA are equally pleased to become shareholders in energyRe:

Morten Beck Jorgensen, Managing Partner, Capital Investments, Novo Holdings, said: “We are excited to become a shareholder of energyRe, which is a company that aligns perfectly with Novo Holdings’ ambition to accelerate the green transition and with our purpose of benefitting people’s health and the sustainability of the planet.”

Michael Nellemann Pedersen, Chief Investment Officer, PKA, said: “Alongside other professional partners, PKA is delighted to become shareholder of energyRe. We see energyRe as an essential part in the transition to further renewable energy sources and a natural addition to our portfolio within energy infrastructure.”

energyRe is advancing several nation-leading renewable energy projects across the United States. energyRe is a partner on Clean Path NY—a public-private collaboration to develop 3,800 MW of new wind and solar power and a 175-mile, underground 1,300 MW HVDC transmission line. Clean Path NY is critical to advancing New York State’s Climate Leadership and Community Protection Act, which mandates a zero-emission electricity sector by 2040, 70 percent renewable energy generation by 2030, and economy-wide carbon neutrality. Upon operation, Clean Path NY will deliver more than 7.5 million MWh of emissions-free energy annually and reduce fossil fuel-fired electric generation in New York by 22% per year on average. Clean Path NY encapsulates energyRe’s focus on transmission-led generation by delivering both clean power and urgently needed transmission capacity—alleviating growing congestion on the electric grid, reducing system costs, enhancing grid resiliency, and enabling additional sources of renewable power to reach cities and communities currently dependent on fossil fuels.

energyRe is a development partner on the SOO Green HVDC Link—a first-of-its-kind, 350-mile interregional transmission line that will connect the midwestern (MISO) and eastern (PJM) power markets and enable the delivery of 2,100 MW of renewable energy—enough to power more than 1.5 million homes.  By delivering wind and solar power to the nation’s largest electricity market, SOO Green will significantly decarbonize the regional electric grid and enhance system reliability and resiliency.

energyRe is a co-developer of Leading Light Wind—the only American-led offshore wind project with a lease in the New York Bight—which can power up to 1 million American homes with 2,400 MW of clean energy.  As one of the only U.S.-based offshore wind developers in the world, energyRe is at the forefront of the burgeoning American offshore wind industry and well-positioned to advance robust domestic supply chains, workforce development pipelines, and manufacturing capabilities.

In 2022, energyRe acquired Southern Current, a South Carolina-based premier developer of solar and energy storage assets.  In September 2022, energyRe launched Radial Power, a large-scale developer, owner, and operator of distributed clean energy systems with commercial & industrial (C&I) solar and storage solutions and electric vehicle charging.

energyRe is an affiliate of Related Companies, one of the most prominent real estate companies in the United States and one of the nation’s largest creators and preservationists of affordable housing.

BofA Securities served as placement agent and Lazard Frères & Co. LLC. served as financial advisor to energyRe.

About energyRe
energyRe is a leading independent energy company focused on solving complex sustainability challenges and providing clean energy solutions in utility-scale transmission, onshore wind and solar, offshore wind, energy storage and distributed generation. Guided by the principles of innovation and partnership and backed by expertise and experience, energyRe is committed to creating a reliable, renewable energy future for all. energyRe has offices in New York, Houston, Indianapolis, and Charleston. For more information about energyRe, visit www.energyre.com.

About Elia Group 
Elia Group is a key player in electricity transmission. Through our subsidiaries in Belgium (Elia) and Germany (50Hertz), we operate 19,349 km of high-voltage connections, meaning that we are one of Europe’s top 5 transmission system operators. By expanding international high-voltage connections and incorporating ever-increasing amounts of renewable energy into our grid, we are promoting both the integration of the European energy market and the decarbonisation of society. In addition to its activities as a transmission system operator, Elia Group provides consulting services to international customers through its subsidiary Elia Grid International. In recent years, the Group has launched new non-regulated activities such as re.alto – the first European marketplace for the exchange of energy data via standardised energy APIs – and WindGrid, a subsidiary which will continue to expand the Group’s overseas activities, contributing to the development of offshore electricity grids in Europe and beyond.

The legal entity Elia Group is a listed company on Euronext Brussels.
https://www.eliagroup.eu/ 

About Glentra Capital
Glentra Capital (‘Glentra’) was founded in 2022 by senior executives from the renewable energy and fund management industries, with the vision to generate attractive risk-adjusted returns while accelerating the global energy transition for a clean and sustainable future. Glentra will contribute to this vision by investing in and growing exceptional companies that deliver the energy infrastructure of tomorrow via investments in development platforms ranging from offshore wind to solar and sustainable fuels and in their supply chain companies as well as in energy optimisation and integration businesses.  The mix of industry and investment experience among Glentra’s partners and team of employees secures a unique platform for growth and value creation for portfolio companies and investors. Glentra has offices in Copenhagen and London.
www.glentra.com 

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 Novo Nordisk Foundation
Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society. www.novonordiskfonden.dk/en

About PKA
PKA is one of Denmark’s leading pension funds delivering life-long security in the form of simple pension schemes for a community of members based on solidarity.

With a total of 355,000 members, mainly from social services and health care, PKA has taken good care of their pensions ever since 1954.

Today, the combined net assets have reached such a size that they make in difference in society. E.g. the funds’ investments push the expansion of green energy infrastructure, support sustainable building construction, and create growth in developing countries.

With about USD 60 billion in AUM PKA has invested in solar and wind power for more than ten years and is to be considered as a green leader in the pension industry generating long-term, good returns for the members, while contributing to a more sustainable future.
https://pka.dk/this-is-pka

SOURCE energyRe

– Double the investment scale to accelerate open innovation and make strategic investments in bio-venture companies –

OSAKA, Japan, Dec. 1, 2023 — Ono Pharmaceutical Co., Ltd. (Osaka, Japan; President and CEO: Gyo Sagara; “Ono”) today announced that in order to accelerate the open innovation, it has increased its investment pool from US$100 million to US$200 million to continue strategic investment in Ono Venture Investment Fund I, L.P. (“OVI FI“), which was established as a corporate venture capital fund in CA, USA in May 2020.

With the aim of accessing and partnering on drug discovery targets and cutting-edge technologies for the generation of innovative medicines, Ono established Ono Venture Investment, Inc. (South San Francisco, CA, USA: “OVI”), as well as OVI FI as local subsidiaries in the U.S. in May 2020. OVI manages the investment fund and invests in bio-ventures and startup companies.

Since the establishment in 2020, OVI and OVI FI have been supporting the drug discovery activities through strategic investments in 11 bio-venture companies to date, including the most recent investment in Photys Therapeutics (Waltham, MA, USA).

With this increase in investment, Ono will create and accelerate further open innovation through OVI and OVI FI activities, and make more strategic investments in bio-venture companies and startup companies. In this way, Ono will continue to promote innovation and work to achieve the sustainable growth through the creation of innovative new drugs.

SOURCE ONO PHARMA USA, INC.

SAN ANTONIO, Nov. 30, 2023 — Darkhive Inc. announced the closing of a $4M Seed round led by Crosslink Capital and joined by MVP Ventures, Capital Factory, and existing investor Stellar Ventures. This round of financing will enable Darkhive to accelerate production of both hardware and software product lines in support of high-profile Department of Defense initiatives. In the past year, Darkhive has been awarded contracts totaling nearly $14M, but collaboration with key strategic investors provides a critical component to the future success of the company.

“We have some hard timelines to hit in 2024 and beyond in order for our products to provide real value at scale to the communities we support,” said Darkhive CEO John Goodson, “We’re excited to be teamed up with Crosslink and our other partners that joined the round to hit those milestones and deliver for our customers.”

Matt Bigge, Partner at Crosslink Capital and Darkhive Board Member, commented “Darkhive represents the future of uncrewed systems. Their open hardware and software architecture enables the first truly scalable, interoperable and cost appropriate approach to US-made drones. Crosslink is excited to work with the Darkhive team to facilitate this strategic architectural approach at a critical time for US National Security.”

About Darkhive:

Founded in 2021, Darkhive has placed an emphasis on developing affordable, US-manufactured uncrewed systems with open hardware and software interfaces to provide life-saving situational awareness at home and abroad. Darkhive has previously been awarded a Phase III Small Business Innovation Research IDIQ with AFWERX Autonomy Prime, multiple Phase II SBIR/STTR awards with AFWERX and the Air Force Research Lab, as well as OTA contracts with the Office of the Undersecretary of Defense Research and Engineering Innovation and Modernization and the Defense Innovation Unit National Security Innovation Capital. 

About Crosslink Capital:

Crosslink is a leading early-stage venture capital firm based in the Bay Area with over $4B in AUM. Crosslink partners with founders that are market disrupters and category creators, typically at the Seed-Series A stage, across highly dynamic enterprise and consumer technology sectors. 

The firm aims to partner with exceptional founders and assist them in building successful companies by providing capital, expertise, and a strong network of connections. Over its history, Crosslink has had the opportunity to partner with defining companies such as Bleacher Report (acquired by TWX), BuildingConnected (acquired by ADSK), Chime, Coupa (COUP), Omniture (acquired by ADBE), Personal Capital (acquired by Empower Retirement), Postmates (acquired by UBER), ServiceMax (acquired by GE), Vungle (acquired by Blackstone), Verodin (acquired by FEYE) and Weave (IPONYSE: WEAV).

SOURCE Darkhive

New funding adds to Stensul’s momentum transforming how marketing assets are created

NEW YORK , Nov. 30, 2023 — Stensul today announced it raised $34.5 million in Series C funding to expand the capabilities of its Marketing Creation Platform. The funding round was led by Sageview Capital and includes existing investors U.S. Venture Partners (USVP), Javelin Venture Partners, Uncork Capital, and Lowercase Capital, along with participation from new investor Edith Harbaugh, LaunchDarkly’s Executive Chair and Co-founder. Stensul has raised over $57 million to date.

The company will use the new funding to increase investment in product development, including deepening AI capabilities launched earlier this year. In addition, Stensul will accelerate adoption within enterprise organizations, where the opportunity for transformation has proven to be the greatest. As part of the transaction, Jake Colognesi, Partner at Sageview Capital, will join the company’s board.

Stensul offers a no-code/low-code approach for teams to collaboratively create marketing assets in minutes, without weeks of back-and-forth as is the case with today’s most common methods. In addition to supporting creation workflows for proofing, review and approvals, the platform automatically enforces pre-set brand guardrails, enabling anyone to create high-quality, on-brand marketing campaign assets. By dramatically reducing the time it takes to produce an email or landing page, marketers have more time to spend on strategy to optimize the performance of their campaigns.

“The feedback we heard during diligence regarding Stensul’s Marketing Creation Platform was overwhelmingly positive across the board. Stensul is streamlining the way large marketing teams work across all industries – from an unnecessarily complex, time-consuming, and costly process to an easy, efficient, and ultimately more effective process. Sageview is thrilled to invest in Stensul and support the company through an exciting stage of growth,” said Jake Colognesi, Partner at Sageview Capital.

“This funding round speaks to the value we’re creating and the massive opportunity ahead of us,” said Noah Dinkin, Stensul’s Founder and CEO. “Our talented team has done an amazing job bringing Stensul to ‘must-have’ status for some of the most admired companies in the world. It’s only a matter of time until every company’s marketing team moves away from their slow and painful processes, and we can’t wait to be the catalyst to make that happen.”

Stensul Summit
“We’re seeing an increasing amount of interest from leaders looking to rethink how their marketing organizations work across people, process, and technology,” Dinkin said. “For the last year and a half, all over the country, we’ve had a lot of fun bringing people together in smaller group settings to share their transformation journeys. In 2024, we’re going to hold the inaugural Stensul Summit™, bringing all of these people together in one place. And in typical Stensul events fashion, it’s going to be a lot of fun.” Sign up for updates at https://stensul.com/summit.

About Sageview Capital
Sageview Capital is a private investment firm focused on partnering with industry-defining innovators to build enduring software and tech-enabled businesses. With over $1.5 billion in assets under management, Sageview Capital collaborates with entrepreneurs on a custom approach, leveraging its decades of experience, operational expertise, and network in scaling many successful companies. The firm invests for the long-term and has guided many of its portfolio companies to IPO or acquisition—and beyond. Sageview Capital’s investments include 360insights, Aceable, Anitian, Atmosphere, CallRail, Carewell, Demandbase, DISQO, Drivewyze, Elastic Path, Elemental Machines, Ezoic, Grocery TV, MetricStream, Pantheon, Pax8, NAM, Specright, Theatro, User Interviews, and XSELL Technologies, among others. For more information, visit https://www.sageviewcapital.com.

About Stensul
Stensul dramatically reduces marketing creation time – by up to 90% – so teams can better focus on improving marketing performance. Stensul makes this possible by streamlining the collaboration process and simplifying marketing asset creation for all marketers so they can create high-performing campaigns that drive stronger results. Stensul integrates with all leading ESPs/MAPs, workflow platforms, image digital asset management platforms, live content, link tracking, and messaging platforms. Top brands that trust Stensul to solve their most demanding marketing creation problems include BlackRock, BMW, Cisco, Demandbase, Equifax, Greenhouse, Siemens, Thomson Reuters, and Yahoo. For more information, visit https://stensul.com.

SOURCE Stensul

Led by Khosla Ventures to empower business users with an automation platform centered on human language

SAN JOSE, Calif., Nov. 30, 2023 — Kognitos, the trailblazer in generative AI for business automation, today announced the close of a $20M Series A round led by Khosla Ventures, with participation from existing investors Clear Ventures, Engineering Capital, and Wipro Ventures. The fresh funding brings the company’s venture capital raised to date to $30M adding to the seed round closed earlier this year. Founded in 2020, the company aims to build a future where all business applications will be written in English, where machines understand human language natively and where interacting with a computer is as easy as communicating with a human.

AI is accelerating the way business is conducted across all industries. Many of the traditional shortcomings of automation tools including learning curve, cost and time to value are being addressed using the power of generative AI. Kognitos’ approach to automation using a deterministic English interpreter removes the risk of hallucination and biases while providing all the power of generative AI to business users. Now organizations are able to accelerate automation without the need for traditional automation skill sets. Many companies across various manufacturing, logistics, CPG and retail industries are using the product including PepsiCo, Wipro, Century Supply Chain Solutions and Norco Industries. By empowering business users in a language they already know, Kognitos reduces burden on both business users and IT dramatically reducing costs while accelerating business.

“For the last few decades we have been forcing humans to learn the language of the machine through various no-code, low code and RPA platforms. The time has come for the machine to natively understand plain English,” said Binny Gill, Founder and CEO of Kognitos. “No developer should be needed to translate business requirements into automation because now the business requirements become the automation.”

Most businesses today have many document-heavy or coordination-heavy processes that are manual because automating them has been a daunting task with traditional tools. For example, a person in finance who processes a large variety of invoices, purchase orders and contracts on a daily basis finds it hard to explain all the details of what they do to an RPA developer, especially all the edge-cases. Even after automating such processes, the ballooning maintenance costs have resulted in the failure of many projects.

Kognitos uses natural language processing automation (NLPA) to enable business users to automate processes in plain human language. English is now “code.” Kognitos provides a highly scalable bot-less and management-free SaaS platform that can run business processes targeting ERP, CRM and common business applications at scale. There is seamless human-in-the-loop with patented conversational exception handling, removing the burden of business exceptions from IT. The platform dynamically learns from the business users when they handle exceptions, further increasing value to business without the expensive software development life-cycle as experienced in traditional automation tools.

The new funds will be used to enhance the platform’s ability to understand and execute complex business processes, and expand partnerships and integrations with other business applications to improve the platform’s interoperability. These efforts are aimed at establishing Kognitos as a leader in generative AI for business automation and increasing the adoption of the platform.

“Every enterprise needs to embrace AI, and automation in human language will be key to widespread business usage,” said Vinod Khosla, founder of Khosla Ventures. “In Kognitos, we are backing a founder we have worked with before who is taking on a bold vision of empowering a billion people to program in natural language where every single business application can be written in English.”

In addition to the new capital, Kognitos also announced the immediate availability of Exception Center, a next generation exception handling interface with the platform aimed at business users. Kognitos also unveiled multi-modal automation functions including voice transcription, image comparison, image manipulation, QR code support, data visualization and PDF form filling among others.

“Working with Kognitos has helped us to automate extremely complex use cases that existing automation solutions on the market have been unable to handle. With the Kognitos AI solution, our team is empowered to automate and even handle unforeseen edge cases without increasing the demand on IT,” said Jim McCullen, CIO at Century Supply Chain Solutions. “We have realized significant productivity gains and further enhanced our VIZIV Supply Chain Optimization Platform by using Kognitos to develop a market leading AI-powered capability within our business. We look forward to expanding our partnership with Kognitos as we become the AI leader in the Global logistics space.”

For additional information, please visit www.kognitos.com.

About Kognitos
Kognitos is the leader in natural language process automation. Founded in 2020, the company aims to build a future where all business applications will be written in English; where machines understand human language natively; and where interacting with a computer is as easy as communicating with a human. Kognitos is bringing seamless automation to billions of business users worldwide. For more information, visit https://www.kognitos.com.

The Kognitos SaaS platform is HIPAA and SOC 2 Type II certified for best-in-class security controls and complies with the AICPA’s Trust Services Criteria.

Media Contact: [email protected]

SOURCE Kognitos

 AI-powered forensic accounting solution secures $8.5 million Series A fundraise led by Silverton Partners

BOULDER, Colo., Nov. 30, 2023 — Valid8 Financial, the leader in Verified Financial Intelligence, today announced $8.5 million in Series A funding led by Silverton Partners with participation from Touchdown Ventures, First Trust, CPA.com and Capital Midwest. Valid8 provides AI-powered forensic accounting solutions to accounting and law firms, enabling them to untangle a web of complex financial transactions in hours instead of weeks.

The investment comes at a critical time, as prosecutions and reported losses from fraud are on the rise, according to the Department of Justice and the Federal Trade Commission.

“Prosecutions and civil litigation stemming from fraud and other financial malfeasance are among the most complex cases in our justice system,” said Chris McCall, CEO and co-founder of Valid8 Financial. “Forensic accountants and attorneys require certainty in their investigations, which is why it may take months or even years to uncover the truth behind thousands or millions of financial transactions. Valid8’s unique approach to delivering Verified Financial Intelligence leverages AI to expedite the process while meeting the highest data quality standards for courtroom-ready evidence that expert witnesses can rely on.”

Valid8’s technology provides verified evidence for a wide variety of complex financial matters and white-collar crime investigations, including Medicaid fraud, partnership disputes, asset division, high-net-worth divorces, M&A diligence, audit and Chapter 11 bankruptcies.

The company uses the latest in AI and automation technology to rapidly parse, reconcile, and categorize financial data from numerous sources, including bank transactions, Bitcoin deposits and withdrawals, and even hand-written checks. Valid8’s AI does not make any judgment about fraudulent activity. Instead, it provides visualizations that demonstrate the flow of funds and clarifies which transactions require further evaluation by a professional investigator.

“Using Valid8’s software has fundamentally changed how our team works,” said Jason Wright, Managing Director at Stout, a global investment bank and advisory firm. “Before, it took us significant time to evaluate even a small sample size. With this software, we gain a comprehensive understanding of the entire financial picture in less time. Our team is freed from the tedious review of each and every statement and transaction – time-consuming work that nearly every accountant wishes to avoid.”

Historically, accounting has depended on sample risk assessments and rote reviews of transactions to uncover potential fraud. Valid8’s research shows that investigators spend up to 90% of their time on such tasks before analysis can even begin.

“Valid8’s technology is designed to eliminate sample risk from accounting,” said McCall. “It’s eye-opening to have the complete picture and not be forced to base one’s opinion on a finite portion of a financial history.”

Roger Chen, partner with Silverton Partners, will join the board to support Valid8’s continued growth and development.

“Accounting is ripe for innovation,” said Chen. “As digital banking, cryptocurrency exchanges and other financial innovations become more commonplace, accounting needs its own breakthroughs to stay ahead. Valid8’s technology and core commitment to eliminating sample risk represent the future of accounting. Beyond forensic accounting, this technology already has compelling use cases for audit, transaction advisory, M&A due diligence and beyond.”

The new funding allows Valid8 to further invest in its engineering and go-to-market teams, primarily at its Boulder, Colorado headquarters. To learn more about Valid8 Financial and its solutions, please visit valid8financial.com.

About Valid8 Financial
Valid8 Financial is the global leader in Verified Financial Intelligence (VFI). The company’s platform extracts accounting evidence from documents and systems to eliminate sample risk, address staffing challenges, and improve the speed and quality of rendering a professional opinion. Hundreds of firms use Valid8’s software on some of the world’s most complex, high-profile cases. The company holds numerous patents and was recognized in 2023 as a Top Financial Restructuring Services Provider from Financial Services Review and in 2022 as a Technology Innovation Award Winner from CPA Practice Advisors and as a Top 100 Early Stage Company by Will Reed. The company has headquarters in Boulder and Seattle. For more information, visit: www.valid8financial.com.

Media Contact
Sam Perry
BLASTmedia for Valid8 Financial
317.806.1900 x152
valid8@blastmedia.com

SOURCE Valid8 Financial

LUCKY F*CK ENERGY DRINK RAISES $4M SEED ROUND TO FUEL GROWTH AND EXPAND DISTRIBUTION

AUSTIN, Texas, Nov. 30, 2023 — LUCKY F*CK, the better-for-you energy drink company that makes products to motivate people to defy the odds and keep going, announced today the close of a $4M seed funding round led by Imaginary Ventures. The investment will be used to accelerate its growth across Texas and California, increase production, and expand its best-in-class team. This marks the first energy drink investment for Imaginary, which has invested in other category-leading consumer brands such as Skims, Daily Harvest, and Glossier. In addition, the company announced the expansion of its board and deal with Heimark Distributing, a respected partner of Anheuser-Busch and other beverage brands.

Founded by beverage entrepreneur Richard Laver (Founder of Kate Farms) in August 2023, LUCKY F*CK is available in five natural flavors with subtle notes of fruits and citrus and features 5 super ingredients like maca, beta-alanine, and ginseng. The brand has five calories, zero sugar, and zero aftertaste and is designed to be approachable for people over 18, including individuals who have never tried an energy drink due to fear of taste and ingredients you can’t pronounce.

Heimark Distributing, part of the “Anheuser-Busch Distributor” network and the exclusive distributor for Anheuser-Busch Beers in the Coachella Valley, CA, will exclusively distribute LUCKY F*CK throughout the region. Its CEO, Peter Heimark, will join the brand’s advisory board. 

“We have created an energy drink and entertainment company that has sparked a movement, and to have the support of the CPG industry’s leading investment firm, veteran CPG executives, and a best-in-class distributor is an honor,” stated Richard Laver, LUCKY F*CK’s Founder and CEO. “Having this network this early on validates that this isn’t your typical beverage company. It’s a vote of confidence that we will transform the category.”

Logan Langberg, Partner at IMAGINARY, added, “The energy drink category continues to explode as new, younger consumers seek cleaner ingredients and more inspiring branding. Out of all the emerging and legacy players, it was clear that Richard’s vision and the brand embody the most satisfying taste, a cleaner, functional ingredient label, and a counter-culture ethos that resonates with the younger generation. Richard is a proven leader and formulating specialist and has captured the best of brands like Monster and Redbull, as well as Celsius’s taste and clean profile while creating something unique that will rock the market.”

Langberg will join the Board of Directors and sit alongside Richard and Michelle Laver. Andrew Maxman, Venture & Growth Equity Investor at IMAGINARY, will become a Board Observer. 

To learn more about LUCKY F*CK, visit www.luckybevco.com and follow on social media @luckyfckenergy.

About LUCKY F*CK
LUCKY F*CK is a new, better-for-you energy drink company founded by serial beverage entrepreneur Richard Laver. The brand creates high-quality products to motivate people to defy the odds, seize their daily fortune, and make their own luck. The product line features five flavors—with 5 super ingredients, including Maca and Beta-Alanine, zero sugar, zero aftertaste, and only five calories. Products are available on Amazon and select retailers nationwide. For more information, visit www.luckybevco and follow @luckyfckenergy.

About IMAGINARY 
Imaginary Ventures, launched in 2018 by Natalie Massenet and Nick Brown, invests in tech-enabled brands and platforms that are changing the way we live by providing best-in-class products and experiences. IMAGINARY is a dynamic ecosystem of brands and software businesses, forging meaningful partnerships and fostering symbiotic relationships across its portfolio. The firm goes beyond capital to provide strategic and operational support to drive profitable businesses with the power to endure. IMAGINARY is headquartered in New York and currently has over $1 Billion under management.

CONTACT: Valeria Carrasco, valeria@hallettsconsulting.com

SOURCE Lucky Beverage Company