LISBON, Portugal, Oct. 17, 2023 — Einvestment, known for its expertise across a wide range of asset classes and its commitment to introducing modern techniques for efficient wealth management, has recently shed light on the transformative impact of Artificial Intelligence (AI) in the financial sector.
Highlighting how the AI sector significantly outperforms the market, the wealth management platform owners underlined their deep commitment to harnessing the potential of AI to drive technology and venture capital investments.
As the financial landscape evolves, Einvestment has consistently demonstrated its aptitude for staying ahead of the curve. The company’s proactive approach, coupled with its “on the ground” knowledge and deep-rooted experience in various sectors chosen for asset allocation, places it in a prime position to understand and leverage the evolving dynamics of the market.
Peter Derksen, Managing Director at Einvestment, remarked, “Our team constantly monitors the markets to elevate the efficiency of quarterly portfolio rebalancing. AI is currently driving a major share of technology investments and venture capital funding. In line with our mission to continuously innovate and provide the superior investment opportunities to our clients, we plan to present an AI-focused segregated portfolio to our clients by the end of 2023, once we collect a longer performance history and track record of success.”
The Fund’s management team focuses on risk management, boosting diversification, and ensuring a superior performance for its clients. Notably, investors benefit from flexible performance fees, with the unique offering that the more is invested, the less performance fee is charged from positive returns for investment management services.
The wealth management platform, having delivered superior returns since 2018, also stands out for its commitment to responsible investing. Underlining their intention to move beyond traditional investment strategies, Einvestment’s portfolio managers steer clear of ESG-unfriendly companies and sectors.
Investors can seamlessly verify their accounts, invest, and sign agreements using electronic signatures. The intuitive and secure Investor’s Portal, accessible from both laptops and smartphones, ensures that clients can manage their portfolios with just a few clicks, further exemplifying Einvestment’s commitment to modernity and client-centricity.
Moreover, the company has always laid significant emphasis on its customer relations. With a dedicated and experienced customer service team available around-the-clock, Einvestment ensures that every client’s query or concern is addressed promptly.
As the world moves deeper into the AI era, Einvestment remains committed to not just observing the changes but actively shaping the future of investments. With a forward-thinking approach, combined with its wealth of expertise, the company aims to offer AI-powered investment solutions to its global clientele.
About the Company
Einvestment’s mutual fund provides a customized strategy aligned with the investors’ distinct requirements. To know more, visit https://einvestment.com/
Media contact: Matthew Richardson [email protected] +351 211 452 614
Groundbreaking AI-generated media detection platform closes round and adds Explainable AI, Real-Time Call Detection for clients.
NEW YORK, Oct. 17, 2023 — Reality Defender, the premier deepfake and AI-generated media detection platform, today announced it has raised $15 Million in Series A funding. The round was led by DCVC, with participation from Comcast, ex/ante, Partnership Fund for New York City, Rackhouse Venture Capital, and Nat Friedman’s AI Grant.
Reality Defender Founder Team (Left to Right): Ben Colman (Co-Founder, CEO), Ali Shahriyari (Co-Founder, CTO), Gaurav Bharaj (Co-Founder, Head of R&D)
Founded in 2021, Reality Defender provides enterprises, content platforms, and governments with bleeding-edge solutions to proactively detect deepfake and AI-generated content across audio, video, images, and text. In just two years, the company has partnered with enterprises, governments, and platforms to detect millions of deepfakes, deflect state-sponsored attackers, stop disinformation, and prevent advanced voice fraud in real time.
“Our incredible team built the only platform capable of stopping the most advanced threats of our time,” said Ben Colman, CEO and Co-Founderof Reality Defender. “Our new partners at DCVC not only believe in our platform and our team, but share our vision for growing Reality Defender to fully address the innumerable AI-enabled problems of tomorrow. We’re thrilled to work in lockstep with a group so equally passionate about our mission of stopping dangerous deepfakes and GenAI content for good.”
“While Generative AI has already created massive productivity boosts for products and companies, it has also significantly reduced the cost for bad actors to create fake news, media, voice, and even fake organizations to target individuals, institutions, banks and whole societies,” said DCVC General Partner Ali Tamaseb. “In the face of this dire threat—a whole new cybersecurity category—Reality Defender’s best-in-class technology is leading the delivery of an absolute civil necessity: the ability to distinguish between what’s real and what isn’t.”
In addition to fundraising, Reality Defender has launched Explainable AI on the platform’s web application. Available today for all clients using Text Detection, Explainable AI enables clients to scan a document and see color coded paragraphs of AI-generated text. Explainable AI for audio, video, and image detection will continue to roll out on the Reality Defender platform in the coming months. The company has also launched real-time voice deepfake detection to select clients, allowing call centers and anti-fraud teams to detect the use of manipulated or fabricated media as it happens.
ABOUT REALITY DEFENDER Reality Defender is a groundbreaking security platform offering comprehensive deepfake detection. A Y Combinator graduate, Comcast NBCUniversal LIFT Labs alumni, and winner of SXSW Pitch 2023, Reality Defender’s proactive deepfake and AI-generated content detection technology is developed by a leadership team with over 20 years of experience in applied research at the intersection of machine learning, data science, and cybersecurity. With models defending against present and future fabrication techniques, Reality Defender is the best way to detect and deter fraudulent text, audio, and visual content, partnering with government agencies and enterprise clients to enhance security and detect fraud. For more information, please visit www.realitydefender.com.
ABOUT DCVC DCVC is deep tech venture capital. Over more than a dozen years, the firm has backed brilliant entrepreneurs using computational approaches to solve trillion-dollar problems in the real world across a broad set of industries, especially those that haven’t seen material progress in decades. With billions of dollars of assets under management, DCVC builds long-term relationships with the founders it backs. The firm has been with many of its companies from their very start — and through to their recognition by the public markets as category-defining businesses. For more information, please visit www.dcvc.com.
TORONTO, Oct. 17, 2023 – Meeranda, a privately held artificial intelligence (AI) solutions provider serving both small and medium businesses (SMBs) and global multinational corporations (MNCs), announced today that it has joinedNVIDIA Inception, a program that nurtures startups revolutionizing industries with technological advancements.
Meeranda plans to use the resources available through NVIDIA Inception, such as the latest cutting-edge technical tools, to aid its teams in their continuous effort to deliver The New Personalized Customer Experience. Other advantages of being part of the NVIDIA Inception program include the opportunity to connect with potential investors who are passionate about supporting ground-breaking technologies. The program will also offer Meeranda the opportunity to collaborate with industry-leading experts and other AI-driven organizations.
“We are thrilled to be part of the NVIDIA Inception program,” said Mr. Raji Wahidy, Co-Founder and CEO of Meeranda. “Meeranda is now joining an elite group of startups driving change across industries and around the world. The program will provide Meeranda with further expertise, technology, and access to venture capital, as well as global awareness of our service offering. This is yet another step forward in the right direction for our team, and we are excited and grateful for this opportunity.”
NVIDIA Inception helps startups during critical stages of product development, prototyping, and deployment. Every NVIDIA Inception member gets a custom set of ongoing benefits, such as NVIDIA Deep Learning Institute credits, preferred pricing on NVIDIA hardware and software, and technological assistance, which provides startups with the fundamental tools to help them grow.
Meeranda is a privately held Artificial Intelligence (AI) solutions provider, serving Small and Medium Businesses (SMBs) and Global Multinational Corporations (MNCs). Meeranda is best known for its Human-Like AI that intends to offer the new personalized customer experience to combat the ongoing frustration of dealing with chatbots and half-baked AI solutions. Although in its early stages, Meeranda already has agreements across six countries and seven industries, thus far.
ISTANBUL, Oct. 17, 2023 — Cerebrum Tech, a pioneering technology company, celebrated for its recent innovations such as Cere and Cere Insight in the field of generative artificial intelligence, has successfully secured a substantial investment of $1.8 million, valuing the company at $15 million. This achievement was made possible through the collective support of individual and institutional investors, under the leadership of Boğaziçi Ventures, one of Türkiye’s foremost Venture Capital companies. This investment not only signifies a substantial vote of confidence in Cerebrum Tech’s endeavors but also positions the company for further growth and innovation in the dynamic realm of generative artificial intelligence.
Boğaziçi Ventures VC Logo
Cerebrum Tech, a visionary venture studio recognized for its outstanding products and solutions across diverse sectors, including artificial intelligence, finance, industry, e-commerce, and Web3, has successfully secured a noteworthy investment of $1.8 million. This investment was led by Boğaziçi Ventures, a leading name in Türkiye’s technology-focused venture capital landscape. The valuation of this achievement stands at an impressive $15 million.
The investment process was realized with the enthusiastic participation of both individual and institutional investors, marking an important milestone for Cerebrum Tech. This strategic collaboration will see Cerebrum Tech become an integral part of the BV Growth Venture Capital Investment Fund’s portfolio, which boasts participation from a range of forward-thinking investors, both individual and institutional alike.
In March, Cerebrum Tech unveiled Cere, a groundbreaking artificial intelligence application. Available in both personal and corporate versions, Cere is one of the first AI applications to leverage 3D avatars, offering a dynamic and immersive experience. Following this remarkable launch, September witnessed the introduction of Cere Insight, an innovative addition to the realm of artificial intelligence. Cere Insight stands out with its unique capabilities, allowing users to efficiently summarize extensive documents with multi-file support, and extract valuable insights from large datasets. Notably, it accomplishes this without necessitating coding expertise, thanks to its advanced LLM technology. Moreover, it empowers users to effortlessly create customizable chatbots with seamless web integration, delivering a transformative experience.
Cerebrum Tech has consistently championed pioneering initiatives across various sectors. From artificial intelligence and internet of things to finance and the dynamic Web3 sphere, Cerebrum Tech continues to make indelible contributions to the evolving technology landscape.
“Our aspiration is to fortify our presence in the global market through the international investments we’ve garnered from day one”
“Our aspiration is to fortify our presence in the global market through the international investments we’ve garnered from day one,” affirmed Dr. Erdem Erkul, Founder and Chairman of the Board of Directors at Cerebrum Tech, an esteemed leader in Türkiye’s artificial intelligence landscape. He elaborated on the company’s journey, stating, “When Cerebrum Tech set its course in 2021, we committed to fostering the growth of the technology entrepreneurship ecosystem in our homeland and establishing ourselves as a distinguished new-generation technology firm on the global stage. The partnership with Boğaziçi Ventures, I believe, is a pivotal step towards achieving our ambitious goals. We will persistently innovate and scale our existing products to cater to the evolving landscape of new-generation technologies, including artificial intelligence, which is already shaping the future, for the global audience.”
In addition to Boğaziçi Ventures, a prominent investment company in Türkiye, and a group of international investors, Cerebrum Tech has garnered support from Inveo Ventures Coinvestment Venture Capital Investment Fund. This forward-thinking fund specializes in investing in future technologies, aligning seamlessly with Cerebrum Tech’s commitment to innovation.
Furthermore, Cerebrum Tech remains bolstered by individual investors, notably including Faruk Eczacıbaşı, one of the company’s early backers. His continued involvement in this investment round underscores the unwavering commitment to Cerebrum Tech’s growth and success among individual investors.
“Cerebrum Tech is set to assume a pivotal role within our portfolio”
“Cerebrum Tech is set to assume a pivotal role within our portfolio,” declared Barış Özistek, Managing Partner of Boğaziçi Ventures. Boğaziçi Ventures, renowned for its unwavering focus on innovative technologies and disruptive innovation, has added Cerebrum Tech to its roster of investments. Cerebrum Tech, one of Türkiye’s standout success stories in the fields of artificial intelligence and Web 3.0, has exhibited remarkable growth and potential in recent years.
“In 2023, Boğaziçi Ventures maintains its steadfast commitment to investing in visionary projects driven by technology. This approach, rooted in constructive disruption, is instrumental in shaping the future. Cerebrum Tech, now a proud member of our BV Growth Venture Capital Investment Fund, has rapidly ascended to become one of the flagship projects within our expansive portfolio.”
“An Investment Paving the Way for a Bright Future”
Boğaziçi Ventures, a trailblazing name in Türkiye’s alternative asset management sector, is on a mission to invest in the future by emphasizing projects that bring intrinsic value, distinct from the conventional investment management approach. Boğaziçi Ventures wholeheartedly believes in the potential of technology and technology entrepreneurs in our homeland. In each of our investments, we go beyond mere financial contributions, standing shoulder-to-shoulder with our portfolio companies throughout their journey as a dedicated team. We bolster them with our wealth of knowledge, experience, and an extensive network of resources.
As we embark on the shared journey of fostering Cerebrum Tech’s growth, we take immense pride in the opportunity to co-author a new chapter of success within the vibrant entrepreneurship ecosystem of our nation. This investment embodies our unwavering commitment to catalyze innovation and pave the way for a brighter future.”
About Cerebrum Tech:
Established in 2021, Cerebrum Tech is a forward-thinking venture studio dedicated to pioneering solutions in key sectors like Artificial Intelligence, the Internet of Things, finance, e-commerce, and Web3. Fueled by a team of experts, Cerebrum Tech excels in driving digital transformation, developing innovative, globally recognized applications in artificial intelligence, Web3, data security, consultancy, as well as smart cities and sustainability. At the heart of Cerebrum Tech’s mission is a vision to be a trusted leader in next-generation technology operating from strategic locations, including Silicon Valley, Istanbul, Seoul, Ankara, the Netherlands, Malta, and London, It’s a venture studio firmly rooted in its belief in harnessing the potential of young talent.
About Boğaziçi Ventures:
Boğaziçi Ventures stands as a preeminent alternative investment firm, specializing in the conception and management of funds dedicated to technology companies across various sectors and global territories. Their commitment lies in generating substantial added value for the companies they invest in.
With a distinguished history of investment decisions that have impacted over 100 technology companies, Boğaziçi Ventures takes an active role in nurturing technology startups. The firm’s partners and team actively engage with entrepreneurs, providing guidance, mentorship, and invaluable knowledge transfer to steer them toward international success.
Boğaziçi Ventures encompasses a group of companies that establish and oversee specialized funds tailored to the unique requirements of investors. Additionally, the firm offers secure custody services for digital currencies, catering to the evolving needs of the digital economy.
A subsidiary of Boğaziçi Ventures, BV Asset Management, plays a pivotal role in assisting both individual and institutional investors in establishing and managing mutual funds, in accordance with the regulations of the Capital Markets Law.
Distinguished by its innovative approach, BV Asset Management establishes and oversees funds that are intricately tied to technology, providing opportunities to invest in publicly traded technology companies.
In all, the tech-enabled consumer products company has raised $230 Million since inception, the most recently closed $11 million equity raise led by Memphis, Tennessee-based Gullane Capital
CANTON, Ohio, Oct. 17, 2023 — Society Brands, a tech-enabled consumer products company built for and by founders, today announced it has raised an additional $25 million of equity, most recently having secured $11 million in a funding round led by Gullane Capital, LLC, an investment firm focused on managing and advising pooled investment vehicles consisting of qualified individuals.
Since its initial raise of $205 million, Society Brands has raised an additional $25 million in equity funding bringing the total capital commitment since inception to $230 million. Additional lead investors include Callais Capital, an institutional VC firm in Louisiana, and North Coast Ventures, a Cleveland-based capital partner who invests primarily in early and growth stage companies. The recent equity fundraise will allow Society Brands to continue acquiring e-commerce native brands in a targeted and strategic manner, further the build out of their operating team and infrastructure and provide even more financial strength to the company’s balance sheet.
“Despite recent headwinds in the e-commerce space, Society Brands is stronger than ever. We’ve had strong execution from both an organic and inorganic growth perspective and this equity raise is a testament to that,” said Michael Sirpilla, Co-founder and Chief Executive Officer, Society Brands. “This recent $11 million raise, which now totals $25 million since our last capital raise announcement, demonstrates the confidence that our investors have in our business plan and our future success. Moving forward, Society Brands is positioned to become a premier tech-enabled consumer products company as we continue to acquire great brands and partner with incredible founders.”
Society Brands has a differentiated business model and deal structure that creates alignment with founders while truly enabling them to take their brand to new heights by sharing best practices and resources.
“We believe Society Brands’ business model to develop lasting and meaningful relationships with the sellers to grow their business and, as a result Society Brands’ overall portfolio, is a formula for success,” said Trip Miller, founder of Gullane Capital. “We are equally impressed with the high integrity founder-run culture amongst Society’s leadership that aligns with our investment partner’s values. Given that, we are optimistic that Society will be among the strongest players in the marketplace.”
Society Brands not only acquires brands that sell on Amazon, but also companies with a strong and loyal direct-to-consumer audience on platforms like Shopify. They encourage founders to stay on board to be part of the team and offer rolled equity as part of the deal consideration to create alignment. It’s their desire to build a community and ecosystem of like-minded entrepreneurs that have the skill and energy to grow with their brand. Not only will founders elevate to the next level professionally, but they will also develop relationships that will last a lifetime.
“Society Brands’ strong financial position will allow it to further capitalize on additional acquisitions that can be integrated with the company’s exceptional management team and proven processes for growing businesses that we believe will yield solid results for all stakeholders,” said Court Coursey, Managing Partner of TomorrowVentures, and Society Brands advisor and early-stage investor.
In recent months, Society Brands has fostered genuine organic growth by cultivating powerful relationships between brands. This not only strengthens the shared mission but also enhances the combined value, saving millions annually. Society Brands’ commitment isn’t just about efficient operations; it’s about nurturing each brand under one umbrella, allowing them to thrive and flourish. Society Brands successfully owns and operates seven distinct brands including Capsule Supplies, Barnesmith, Power Theory, and Wolf Tactical, to name a few. Additional brands are currently in the acquisition pipeline and will be announced soon.
About Society Brands Society Brands is a tech-enabled consumer products company that acquires e-commerce native brands that primarily sell on their own DTC sites and platforms like Amazon, Walmart, and others. Society Brands was built by founders, for founders™, providing entrepreneurs meaningful liquidity while at the same time affording them an opportunity to stay on board, build their brand and roll equity into Society Brands’ platform. For more information, please visit www.societybrands.com.
Growing more than 30x since launching in early 2022, Nirvana brings modern insurance and cost savings to connected fleets
SAN FRANCISCO, Oct. 17, 2023 — Nirvana Insurance, provider of modern insurance for physical operations, today announced a $57 million Series B funding round. Lightspeed Venture Partners reaffirmed its commitment to Nirvana by returning to lead the round, with additional participation from General Catalyst and Valor Equity Partners. The new funding positions Nirvana to continue helping fleets utilize their IoT and sensor data to access insurance cost savings and customized risk management solutions.
“Commercial fleets today produce a tremendous amount of data, yet most insurers still insist on a cookie-cutter approach to insurance that does nothing to incentivize safety. Nirvana is bringing insurance into the modern era, changing how the industry considers risk,” said Raviraj Jain, Partner at Lightspeed Venture Partners. “Their incredible growth is a testament to the opportunities AI and data analytics are opening up in fleet insurance and beyond, especially given that the IoT fleet management market is expected to continue growing.”
Businesses in the trucking sector often operate on tight margins, and recent economic pressures like rising insurance rates are pushing many of these enterprises to the brink of closure. By collecting data points from tech-enabled fleets, Nirvana can precisely tailor its rates to individual fleets and reduce insurance costs by up to 20%. Nirvana’s policies are usage-based, so customers only pay for how much they drive and their specific risk profile.
“In the past few years, most fleets saw their insurance rates rise even though they were doing everything right. We believe they deserve better,” said Rushil Goel, co-founder and CEO of Nirvana. “Nirvana is changing the paradigm by proving how a better customer experience—lower rates, faster turnarounds for quotes, and access to a full safety platform—is better for business, reflected in our market-leading loss ratio.”
Customers experience many initial benefits with Nirvana, like receiving quotes in days instead of weeks and upfront savings of up to 20% for safe driving. But the advantages don’t stop there: Nirvana’s approach also improves fleet safety and expedites claims processing.
Traditionally, drivers only interact with their insurance when they have a claim. Nirvana’s Safety Platform features a dashboard with AI-powered monitoring tools, enabling proactive risk-reducing and cost-saving changes that optimize routing, improve driver coaching, and help avoid fines. Additionally, through the online portal and availability of data from telematics and dashboard cameras, Nirvana decreases the time it takes to process claims, helping fleets prevent fraud and get back on the road more quickly.
“With telematics data, Nirvana is looking at the whole picture of my fleet’s performance,” said Joe Gramc, CEO of Five Star Trucking. “Are they hard-braking? Speeding? Changing lanes abruptly? Where other providers stay at arm’s length, Nirvana’s proactive safety recommendations ensure that our fleet is following local and federal safety regulations.”
Capital support from its Series B will allow Nirvana to make substantial new investments in its AI and IoT capabilities while continuing to build its customer service, underwriting, and product development teams. Nirvana aims to bring its cost-saving, risk-tailored, and safety-enhancing solution to more fleets, even while opening the door to more insurtech innovation in other geographies and segments.
About Nirvana Insurance
Nirvana was founded in early 2021 with the intent of bringing the analog commercial insurance landscape into the modern digital world, using vast troves of IoT data derived from sensors already aboard most heavy trucks. The company is using telematics data to transform the stubbornly analog world of truck insurance to help fleets mitigate risk, improve driver performance, drop costs, and make the insurance process easier for everyone. The upside is improved safety for everyone on the road.
– Major investors include Korea Development Bank (KDB), K2 Investment Partners, DEVSISTERS VENTURES, SJG Partners, and OPENWATER INVESTMENT
– Distribution of ‘CART BP,’ a ring-type cuffless blood pressure monitor that enables continuous blood pressure measurement and monitoring 24/7, will be fully launched to hospitals and clinics across Korea through a distribution agreement signed with Daewoong Pharmaceutical for the Korean market
SEOUL, South Korea, Oct. 17, 2023 — The global healthcare startup Sky Labs(CEO Jack, Lee) attracted investments amounting to KRW 20.7 billion in a Series C round. The company’s cumulative investment attraction amount is around KRW 54.8 billion.
Picture of the CART BP Product
The recent investment was led by Korea Development Bank (KDB), a government-run bank in Korea, and participated in by K2 Investment Partners, DEVSISTERS VENTURES, SJG Partners, OPENWATER INVESTMENT, and others. Amid a downswing in investment sentiments and recently rare investments in the bio-healthcare sector, Sky Labs attracted more than KRW 20 billion in investments, thus proving market anticipation.
‘CART BP’ is a ring-type cuffless continuous blood pressure monitor, breaking away from the traditional cuff-based blood pressure monitor, and enables continuous blood pressure measurement and monitoring 24/7. Appropriate treatment strategies and medication dosage adjustments can be made based on diverse blood pressure data over time, including nighttime blood pressure, morning blood pressure, and blood pressure variability. CART BP also tracks how lifestyle habits, such as sleep and stress management, exercising, drinking, and reactions to taking blood pressure pills, can impact blood pressure levels. By doing so, it helps hypertension patients manage their blood pressure levels and contributes to the prevention of cardiovascular disease. A research paper on CART BP’s blood pressure measurement algorithm technology was published in ‘Nature Scientific Reports,’ a world-renowned scientific journal, reflecting recognition of our technological prowess.
Along with receiving approval from the Ministry of Food and Drug Safety for CART BP, Sky Labs signed a distribution agreement for the Korean market with Daewoong Pharmaceutical in June. Distribution of CART BP to hospitals and clinics across Korea will be launched in October. Online sales to the general consumers coming shortly afterward. Sky Labs aims to sell around KRW 70 billion worth of CART BP in the next three years in Korea alone. It plans to expand global market entry of CART BP in line with approval from the US Food and Drug Administration and CE marking in Europe next year.
Director Lee Seung-woo of DEVSISTERS VENTURES, who is a new investor in the recent investment, stated, “Sky Labs has successfully developed a wearable device for 24/7 continuous blood pressure monitoring, a capability previously lacking in existing blood pressure monitors. They have also made significant progress in AI algorithm development, clinical validation, and obtaining approvals. This will make it easier for physicians to access the information necessary for treating hypertension patients. I expect this could become a prime example of AI in healthcare, setting a new standard similar to the CGM (continuous glucose monitor).”
Sky Labs CEO Jack, Lee said, “CART BP created a new field, which is a cuffless blood pressure monitor that continuously takes long-term measurements 24/7. Based on the recent investment, we will conduct clinical research that meets levels demanded by hypertension societies in Korea and abroad and continually secure relevant grounds, in addition to strengthening our world-leading technological advantage and expediting overseas approval acquisition and overseas marketing and distribution.”
BETHESDA, Md., Oct. 16, 2023 — Hull Street Energy has made a strategic investment in Greenskies Clean Focus (“Greenskies”). Greenskies is a vertically integrated company that develops, constructs, finances, owns, and operates distributed solar projects. Since Greenskies was founded in 2009, they have been an industry leader providing commercial and industrial customers with onsite renewable generation solutions in New England, New Jersey, and California.
Waterford CT
With this investment, Hull Street Energy expands its footprint in critical power infrastructure that will be required to decarbonize the North American energy economy. Through collaboration with previous investors, JLC Infrastructure, and Greenskies leadership, employees and stakeholders, the firm plans to develop the Greenskies portfolio, accelerating the growth of behind the meter renewable resources throughout the United States.
Troutman Pepper acted as legal counsel to Hull Street Energy. DLA Piper LLP and KeyBank acted as legal counsel and financial adviser to JLC Infrastructure, respectively.
About Hull Street Energy, LLC Hull Street Energy is a private equity firm that specializes in deploying capital into the power sector as it decarbonizes. Headquartered in Bethesda, Maryland, the team leverages its decades of experience and unique knowledge of North American electricity infrastructure, fundamentals, and grid operations, including fuel inputs, commodity contract structuring, renewable and fossil powered generation assets, energy storage, transmission and distribution systems, and electricity demand-side businesses to build value for stakeholders. For further information about Hull Street Energy please see www.hullstreetenergy.com.
About Greenskies Clean Focus Greenskies Clean Focus offers a full suite of decarbonization solutions, including onsite and offsite solar, battery storage, microgrids, and CCHP. Our vertical integration delivers the most cost-competitive solutions for commercial, public sector, and utility energy users throughout the US. From beginning to end, our customers work with a single delivery team. Greenskies originates, develops, constructs, and operates, while Clean Focus finances and owns the systems. Since our founding in 2009, we have developed and constructed 314 MW of renewable energy facilities across 590 sites in 19 states. Solar Power World ranks Greenskies Clean Focus as the number one commercial solar developer in the Northeast and top three in the US, based on cumulative kW installed. For further information please see www.greenskies.com.
About JLC Infrastructure JLC Infrastructure (“JLC”) is an investor and asset management firm focused on the transportation, communications, energy, utilities and social infrastructure sectors in the United States. The firm was formed in 2015 by Loop Capital and Magic Johnson Enterprises (“MJE”) with offices in Chicago and New York City. JLC has a broad network of long-standing relationships with municipalities, governments, infrastructure companies, investors, advisors and financing providers throughout the country. More information about JLC can be found at www.jlcinfra.com.
BENTONVILLE, Ark., Oct. 16, 2023 — HeartX, powered by HealthTech Arkansas and MedAxiom along with eleven leading cardiology practices in Arkansas and around the country — has selected the five startup healthcare companies that will participate in the 2023 accelerator program. HeartX is a cardiovascular-focused healthcare accelerator that facilitates guaranteed hospital pilot projects and clinical trials for accomplished, early-stage companies bringing new cardiovascular innovations to market.
The five companies selected for the 2023 HeartX program are:
HeartX
Flosonics Medical, Canada
Flosonics Medical produces the FloPatch, a wireless, wearable Doppler ultrasound that directly assesses carotid arterial pulse within seconds. Data from the FloPatch provides a window to the left ventricle, which helps clinicians determine when a patient is no longer fluid-responsive, avoiding harmful and ineffective IV fluids. Learn more at flosonicsmedical.com.
Happitech, Netherlands
Happitech offers an accessible and scalable solution for identifying patients at risk of atrial fibrillation (AF). By placing a finger on a smartphone’s camera for 90 seconds, individuals can screen for AF with a sensitivity and specificity similar to the standard of care. This is well suited for at-risk underserved populations, the elderly, and low-income individuals promoting improved health equity. Learn more at happitech.com.
MindMics, Massachusetts, United States
MindMics delivers heart monitoring through low-frequency acoustical vibrations detected in the ear canal with technology embedded in earbuds and hearing aids. The results are highly accurate regardless of skin tone, skin thickness, and body mass. The sound-based technology has been clinically validated in collaboration with leading researchers and world-renowned medical institutions. Learn more at mindmics.com.
Nanowear, New York, United States
Nanowear is an AI-based remote diagnostics tool utilizing proprietary patented cloth-based nanotechnology. The nanosensors capture over 85 medical-grade biomarkers directly from the skin, enabling a closed-loop digital system for specific machine-learning algorithms built on terabytes of unique human data. Learn more at nanowearinc.com.
SmartCardia, Switzerland
SmartCardia produces the 7L Patch, a revolutionary platform and 7-Lead ECG patch for cardiology and remote patient monitoring (RPM) that is a breakthrough 7/14 day patch offering real-time 7-Lead ECG and vitals with SaaS. A single patch serves multiple service types: Mobile Cardiac Telemetry, RPM, Holter, Extended Holter, and Event Monitoring. Learn more at smartcardia.com.
“We are excited to reveal the 2023 HeartX cohort companies, which were hand-selected by our participating cardiology practices,” said Jeff Stinson, director of HealthTech Arkansas. “With MedAxiom’s help, we’ve been able to grow the HeartX program to international prominence. Through the guaranteed clinical engagement and the national visibility provided through MedAxiom’s national network of cardiology practices, we’re now attracting the very best cardiovascular startups from around the world. We’re very grateful for this opportunity.”
“The cardiovascular industry has been at the forefront of healthcare innovation and new technologies and solutions are arising at a rapid pace. We’re excited to partner with five companies that are transforming cardiovascular care around the world as part of the 2023 HeartX program. While the heart of the program remains in Arkansas, we’ve expanded clinical trial sites nationwide to advance innovations that promise to improve care delivery. With two cohorts and ten companies now a part of HeartX, MedAxiom and HealthTech Arkansas are committed to expanding the portfolio to provide revolutionary solutions to patients, providers and programs.” said Joe Sasson, PhD, MedAxiom’s chief commercial officer and executive vice president of Ventures.
Representatives from each of the eleven cardiology practices, plus representatives from HealthTech Arkansas and MedAxiom, interviewed applicants and selected companies with technologies that have the potential to advance cardiovascular innovation and cardiac care at their respective organizations. Each company will receive $150,000 of investment capital as well as complete and total access to clinicians and administrators while executing their pilot projects and clinical studies in the HeartX program.
ABOUT HEALTHTECH ARKANSAS HealthTech Arkansas helps to drive innovation for healthcare provider organizations through its accelerator programs and through internal innovation programming. Its flagship accelerator, HeartX, recruits worldwide for the most accomplished cardiovascular-focused startups in the areas of digital health, medical devices, and diagnostic platforms. Those companies accepted into the program are guaranteed at least two pilot projects or clinical trials from among the ten largest hospitals and health systems in Arkansas. More information can be found atHealthTechArkansas.com.
ABOUT MEDAXIOM MedAxiom, an American College of Cardiology Company, is the cardiovascular community’s premier source for organizational performance solutions. MedAxiom is transforming cardiovascular care by combining the knowledge and power of hundreds of cardiovascular organization members, thousands of administrators, clinicians and revenue cycle experts, and dozens of industry partners. Through the delivery of proprietary tools, smart data and proven strategies, MedAxiom helps cardiovascular organizations achieve the Quadruple Aim of better outcomes, lower costs, improved patient experience and improved clinician experience. Learn more at MedAxiom.com.
For more information, contact: Jeff Stinson 501.766.0633 [email protected]
