Transactions and New Invoice Funding Product Mark Transformation at Clearco to Better Serve E-Commerce Customers

TORONTO, Oct. 4, 2023 — Toronto-based fintech Clearco announced today the completion of multiple actions to recapitalize its business and solidify its position as the leading provider of growth capital to e-commerce businesses. The transactions include a $60M equity raise from existing investors and a new asset-backed financing facility, which provides up to $100M in financing capacity, and is expected to support $850M of Clearco originations over the next two years. These accomplishments herald a new era at Clearco and mark the culmination of over 12 months of transformational change spanning technology, product and management.

The $60M USD Series D round was led by longtime Clearco investors Inovia Capital and Founders Circle Capital. Alongside the fundraise, Clearco announces the closing of a new committed asset-backed facility from Pollen Street Capital (“Pollen Street”), a leading global alternative asset management firm.  The Pollen Street facility will be used to fund revenue-based advances to e-commerce businesses that have been approved for funding through Clearco’s AI-backed underwriting model. 

“We are thrilled to announce this new round of funding and the launch of a new asset-backed facility as part of a broad recapitalization, which substantially delevers the company and creates a new and improved Clearco,” said Andrew Curtis, CEO of Clearco. “All of these actions allow us to continue to support the growth of e-commerce businesses during a time of funding challenges for many companies. We are firm believers in the continued resilience and growth of e-commerce as an industry, and are committed to providing the capital and resources these businesses need to succeed.”

In the last 12 months, Clearco has pivoted its product to focus on a streamlined capital solution, Invoice Funding, with predictable payment amounts and terms that are easy and hassle-free. Clearco uses AI and proprietary machine learning-based technology to underwrite businesses and help customers fund inventory and marketing invoices. The company has funded over 10,000 e-commerce businesses to date, advancing over $2.5B to help facilitate growth.

Clearco customers can access between $10,000 and $2M in Invoice Funding with predictable payment amounts over periods typically ranging from 4-6 months and no hidden fees. Clearco’s Invoice Funding product provides a stable source of working capital for companies looking to scale their operations and unlock cash flow, helping those merchants to grow in a market where lenders continue to retract from providing capital.

“We are excited to reinvest in Clearco not only because of the company’s success in revolutionizing the way small businesses access capital but also because of the significant transformation the company has made in the last 12+ months. Clearco has retooled and re-established itself as a valuable partner for e-commerce businesses,” said Karamdeep Nijjar, Partner at Inovia Capital. “We’re bullish about Clearco’s future and are confident the operational changes and newfound discipline and focus will create continued success for Clearco and 10,000+ customers.”

“Pollen Street is proud to support Clearco’s mission to expand access to capital to e-commerce business,” said Dan Khouri, Partner at Pollen Street.  “Clearco was one of the first platforms to provide financing solutions to entrepreneurs and we’re excited to play a key role in accelerating their growth.”  

Clearco’s recapitalization comes at a pivotal time when startups and specifically e-commerce businesses are facing multiple challenges, including reduced access to capital. Venture capital funding fell 48% in the first half of 2023, the lowest levels since pre-pandemic, and banks continue to tighten lending to small businesses. With limited access to capital, global economic uncertainty and rapidly rising interest rates, many businesses have been forced to slow their growth, underscoring Clearco’s indispensable role in small business financing markets.

About Clearco

Founded as Clearbanc in 2015, Clearco provides business-friendly capital for e-commerce companies to grow their businesses. Clearco makes it easier for entrepreneurs to grow their business without equity dilution, hidden fees, or compounding cost of capital. The leader in growth capital, Clearco has advanced over $2.5B, financing over 10,000 companies to date. For more information and to learn more about funding for your business, visit clear.co

Media Contact
Clearco
Nick Rosen-Wachs
[email protected]

SOURCE Clearco

• Founded by industry veterans from Tesla, Northvolt and Enovix, the company will focus on rapid scaling of sodium-ion battery manufacturing to address widespread demand for lithium ion alternatives
• Peak Energy’s mission is to drive down the cost of energy storage by up to 50 percent for grid-scale deployments, while improving reliability and safety 
• Company will enable the U.S. to become a leader in sodium-ion manufacturing, deployment and innovation, as a way to decarbonize the grid and improve energy security
• Eclipse led the Seed financing with participation from battery and energy industry leaders at TDK Ventures

DENVER, Oct. 4, 2023 — Peak Energy, a U.S.-based company developing low-cost, giga-scale energy storage technology for the grid, today launched from stealth following a $10M funding round led by Eclipse, with significant participation from strategic partner TDK Ventures. Founded by industry veterans from Northvolt, Tesla, Enovix and SunPower, Peak Energy is on a mission to accelerate grid decarbonization, while drastically lowering the cost of energy storage and establishing the U.S. as a global leader in the sodium-ion market.

Renewables are on track to become the largest source of global electricity generation by early 2025, but without affordable, reliable storage for the grid, the U.S. cannot reap the full benefits of these inexpensive and clean, but intermittent sources of energy. While lithium ion has been the default battery solution, its high cost structure, supply chain insecurity, safety concerns and large carbon footprint make it non-ideal for grid-level storage. Sodium-ion is rapidly becoming a proven battery chemistry, offering clean and secure storage at a significantly lower cost and carbon footprint. With a clear opportunity to ensure affordable energy, Peak Energy is moving fast to industrialize sodium-ion, with a target to lower energy storage costs by up to 50 percent. 

“Sodium-ion is the key to unlocking the potential of renewable energy and will finally enable power providers to fully decarbonize the grid,” said Landon Mossburg, co-founder and CEO of Peak Energy. “The timing could not be better to build a company in this space, and we already have momentum with key customers and partners like Doral Energy. There is a massive opportunity for the United States to emerge as the global leader in sodium-ion production and deployment, and Peak Energy is at the forefront of that effort.”

The Global Race to Win the Sodium-Ion Market

Due to its high energy density, lithium ion has become the dominant battery chemistry across several massive and growing market segments, including mobile devices and electric vehicles, driving unprecedented lithium demand and pricing volatility. Meanwhile, most of the world’s lithium extraction and battery manufacturing exists outside of the U.S., adding levels of geopolitical, supply chain and sourcing complexities that impact the cost and availability of energy storage for Independent Power Producers (IPPs) and electric utilities. With the U.S. having already ceded leadership on lithium-ion innovation and investment to other countries, it’s critical that it invests in, and leads on, the battery chemistries of tomorrow. Sodium-ion, a stable and proven battery chemistry that offers cost, sourcing, safety and emission advantages over lithium ion, is one such chemistry. With wide scale abundance of source materials and a chemistry that produces less carbon emissions and makes it less prone to fires and other safety concerns, sodium-ion is a better alternative to lithium ion for stationary applications, such as grid-storage, and a technology that can help the U.S. take a leadership position in global battery manufacturing.

“The cost of energy is directly correlated to human progress — improving health outcomes, solving food scarcity and reducing poverty all depend on access to low-cost energy,” said Greg Reichow, Partner at Eclipse. “For the U.S. to become a global leader in renewable energy, we cannot afford to place the wrong bets — we must invest in the ventures and the people who have demonstrated they can get to scale quickly, and Peak’s founding team brings an unprecedented level of credibility and experience to Peak’s mission.”

A Team with a Track Record of Going from Zero to Scale in Batteries

Peak Energy’s founding team has a track record of scaling some of the most iconic companies in energy, mobility and batteries, including Tesla, Northvolt and Enovix. Mossburg has over ten years experience scaling manufacturing capacity at Tesla and Northvolt. Most recently he led Northvolt’s North America expansion. Prior to that, he served as the company’s Chief Automation Officer helping to scale Northvolt’s European operations and developing the company’s cell manufacturing technology and factory software. Mossburg was an Engineering Director at Tesla previously, where he worked on projects ranging from vehicle and battery connectivity to factory automation. Peak’s President and Chief Commercial Officer Cameron Dales most recently served as Operating Partner at Eclipse and before that he served as General Manager and Chief Commercial Officer at Enovix. At Enovix, he was part of the founding team responsible for building the infrastructure and technology behind the company’s leading high-density batteries. He oversaw business expansion across three continents and was instrumental in the company’s public debut in 2021.

“Peak’s founders have identified a cost-effective, safe solution with a deployment strategy that enables quick execution and sustainable growth for sodium-ion battery innovation,” said Anil Achyuta, Managing Director at TDK Ventures. “Peak Energy has an opportunity to dominate this market, and we’re looking forward to partnering with the entire team to accelerate and expand access to affordable, clean storage solutions.”

Beginning in 2025, Peak Energy will start deploying its sodium-ion systems, while simultaneously building a domestic, giga-scale battery factory with plans to open in 2026. The initial round of financing will allow the team to accelerate product development, lay the groundwork for building out manufacturing in the U.S. and acquire strategic talent to push the mission forward.

For more information on Peak Energy, visit www.peakenergy.com.

About Peak Energy
Founded in 2023, Peak Energy is a U.S.-based company developing low-cost, giga-scale energy storage technology to accelerate the renewable energy transition. Founded by industry veterans from Tesla, Northvolt and Enovix, the company is on a mission to accelerate grid decarbonization while drastically lowering the cost of energy storage and establishing the U.S. as a global leader in the sodium-ion market. For more information, visit www.peakenergy.com.

Media Contact
Inkhouse for Peak Energy
[email protected] 

SOURCE Peak Energy

Toronto-based startup solves inventory risk and supply chain pain points for small business owners and consumer brands

TORONTO, Oct. 4, 2023 — Centro, the automated inventory control center for growing ecommerce brands, announces $2MM in pre-seed funding led by Ripple Ventures and 2048VC, with participation from Valia Ventures and Comma Capital. Centro’s angels and notable advisors include individuals from WeMakeWebsites, Canada Goose, and Uber, respectively. This round of capital will help the platform expand its selection of offerings to include forecasting and procurement automation features to kick off new marketing initiatives throughout North America.

The global pandemic saw an unprecedented wave of new business growth within the ecommerce space. However, the systems used to keep track of inventory across multiple warehouses have failed to keep up with the demand of many scaling brands. By integrating Centro as an inventory control center, brands increase their revenue and save precious man hours by driving more sales with fully-stocked inventory.

“Prior to founding Centro with Jamyang, I was leading inventory operations at SSENSE, an online luxury multi-brand retailer with a worldwide customer base. When the global pandemic hit, I experienced firsthand how delicate the global supply chain truly was,” says Centro Co-Founder, Andrew Liu. “While trying to adapt to rapid change across supply and demand, I found there was an inherent lack of inventory tools for modern brands. Jamyang, who was working as a strategist at Shopify at the time, validated this same narrative at other large-scale companies so we set out to shake up the inventory ops space.”

“By offering automated inventory and supply chain tools for brands at any scale, Centro has an immediate impact on a brand’s bottom line,” says Jamyang Tenzin, Centro CEO and Co-Founder. “Centro helps ecommerce retailers quickly and efficiently stay on top of inventory supplies and plan for peak sales windows to maximize revenue opportunities. We’ve found that growing brands will face on average $120,000+ in unforeseen risk across their supply chain, and this is rapidly multiplying with the holidays approaching.”

Historically, the software tools available have been costly and therefore out of reach for many growing ecommerce brands. Centro is easy to scale, simple to use, and condenses inventory, procurement, and risk management into a central hub, allowing brands to fully unlock their operational potential and efficiencies. With Centro, anyone can become an expert operator so retailers can focus on driving sales and growing their brand.

“Centro is perfectly timed to address the fashion retail sector’s escalating demand for a centralized inventory hub. As the pioneer in SaaS solutions for inventory risk management and logistics, automation is fueling the platform’s expansion and unlocking valuable revenue streams,” says Dom Lau, Partner at Ripple Ventures. “With a top-tier team specializing in retail inventory, Centro is delivering a game-changing solution precisely when supply chain challenges are plaguing the retail industry.”

“Inventory lies at the heart of every retailer’s operation, and also presents one of the oldest challenges in retail. Properly accounting for and managing inventory is just plain hard, due to supply chain disruptions, production delays, and unexpected spikes in demand,” states Neha Khera, Partner at 2048VC. “The team at Centro has lived and breathed this problem, and their data-first approach, coupled with an inventory control center, is truly game-changing.”

To learn more and request a demo, visit: [https://www.centrocommerce.com/]

About Centro
Founded in 2022 by a team of professionals from across enterprise retail giants like Shopify, SSENSE, and Vividseats, Centro is an inventory control center for scaling brands. On average, brands lose 10% in annual revenue related to supply chain issues, outdated inventory management systems, and the gradual rising cost of materials.  Centro’s automations and alerts save brands valuable time and money by preventing out-of-stock bestsellers, and turn anyone into an inventory expert.

Press Contact
Rick Medeiros
[email protected]
510-556-8517

SOURCE Centro

• LANGaware, an AI-driven healthcare technology company, has successfully raised $2 million in a Seed round led by Eleven Ventures, a prominent early-stage venture capital firm.
• The company, founded by Dr. Vassiliki Rentoumi, uses AI to predict and monitor cognitive and mental health conditions by analyzing language, voice, and speech biomarkers.
• LANGaware’s patented technology, rigorously tested in clinical and virtual care settings, offers unparalleled accuracy in diagnosis, improving patient outcomes and reducing healthcare costs.
• The funding will be used to enhance LANGaware’s technology and product teams, expand its business development efforts, and extend its presence across virtual care platforms and health systems in the United States.

NEW YORK, Oct. 4, 2023 — LANGaware, a US based company revolutionizing cognitive and mental health diagnostics through AI-driven technology, has successfully raised $2 million in funding. The Seed round is led by Eleven Ventures, a leading early-stage venture capital firm in Southeast Europe. Strategic investors from the healthcare industry, alongside existing investor Metavallon VC, are also participating in the round.

Founded by Dr. Vassiliki Rentoumi, a renowned researcher in Natural Language Processing and Computational Linguistics, LANGaware employs Artificial Intelligence (AI) to predict and monitor cognitive and mental health conditions, such as Mild Cognitive Decline, Alzheimer’s Disease, and Depression. By analyzing language, voice, and speech through digital biomarkers, their patented technology offers a new lens for healthcare. Developed over several years of research, the platform has been rigorously tested and proven effective in both clinical and virtual care settings in the US and Greece – improving patient outcomes and reducing healthcare costs. LANGaware aids health systems, providers, and pharma firms by facilitating early detection and tailored support for those at risk or impacted by neurodegenerative and psychiatric disorders, ensuring accurate diagnoses, minimizing misdiagnosis, and unnecessary treatments.

Eleven Ventures, known for their expertise in nurturing and scaling innovative startups, is a strategic partner for LANGaware in this funding round. The Sofia-based venture capital firm has an impressive track of identifying and supporting companies at the forefront of healthtech breakthroughs, ensuring that transformative solutions reach those who need them most. The funding will be used to enhance LANGaware’s technology and product teams, boosting their AI capabilities developing comprehensive data-driven solutions, and to expand the company’s business development team and presence across virtual care platforms and health systems in the United States.

“We are thrilled to secure  $2 million in funding, with support from Eleven Ventures, Metavallon VC, and strategic angels in the healthtech sector,” said Vassiliki Rentoumi, Founder and CEO of LANGaware. “This investment propels us forward, unlocking the potential to revolutionize healthcare systems by unleashing the full power of AI. By harnessing the power of technology, we aim to alleviate the strain on overburdened healthcare systems, while driving down costs and fostering a future where accessible, high-quality healthcare is a fundamental right for all.”

Valeri Petrov, Partner at Eleven Ventures, expressed his enthusiasm for LANGaware’s transformative potential, saying, “Problem” is a light word to describe the domino effect of late-stage diagnostics in neurodegenerative disorders. For example, Dementia Medicare beneficiaries receive nearly 3x > payments compared to other receivers but early diagnostics can save up to $14K annually for payers, a 1/3rd of the total cost.  Through its speech-based flagging system for early detection, LANGaware is an example of how even the most pressing issues in healthcare can be addressed through the power of science and technology.  We are excited to support LANGaware in their mission to impact millions of lives and contribute to a more efficient and timely treatment.”

Through their AI-powered solutions, LANGaware is striving to create a world where individuals receive timely interventions, leading to improved outcomes and a higher quality of life.

Contacts:
Virginia Korma
[email protected]
T(US) | 1-646-878-9053

Sarah Flora 
[email protected] 
T(US) | 1-913-683-4015

About LANGaware:
LANGaware is a pioneering company that leverages AI technology to revolutionize cognitive and mental health diagnostics. By utilizing speech analysis and proprietary voice and speech biomarkers, LANGaware provides early and objective detection of conditions, enabling more effective treatments, reducing healthcare burdens, and improving overall well-being. The company’s vision is to transform the healthcare industry by seamlessly integrating AI-driven diagnostic tools and empowering healthcare professionals with valuable insights for personalized care. For more information about LANGaware, please visit www.langaware.com.

About Eleven Ventures:
Eleven Ventures is one of the leading early-stage VCs in Southeast Europe, investing in startups since 2012. With 150+ collective investments over 10 years, Eleven’s team has been instrumental in catalyzing the regional startup ecosystem. Eleven supports tech companies in four priority verticals – Future of Work, Fintech, Healthcare and Future of Food. Some of the startups which Eleven has backed include Payhawk, Gtmhub, Dronamics, SMSBump, and Kanbanize. In Greece, Eleven Ventures has also invested in BibeCoffee, Biopix-T, Pop Market, Woli, and myTeam. For more information on Eleven Ventures, visit https://www.11.vc/.

About Metavallon VC:
Metavallon VC specializes in pre-seed and seed-stage funding of disruptive technology companies. The firm invests in and works alongside ambitious entrepreneurs, helping them build transformational businesses across multiple stages, geographies and industries. Metavallon VC’s mission is to engage at a very early stage and invest in companies that will operate at the forefront of business and technology innovation. The firm has received investment both from EquiFund, a fund-of-funds created jointly by the European Investment Fund (EIF) and the Hellenic Republic, and from private investors. For more information on Metavallon VC, visit https://metavallon.vc/.

SOURCE LANGaware

The company is redefining wealth management, driving robust financial growth for diverse, passive, high-net-worth and DIY investors

NEW YORK, Oct. 4, 2023 — Vyzer, an innovative digital wealth management platform, has successfully raised a Seed round of $6.3 million from leading VCs, angel investors, and family offices including iAngels, Guy Gamzu, MonetaVC, Jonathan Kolber and Rafi Gidron. Leveraging AI technology, Vyzer transforms data into potent wealth-building strategies and grants investors access to a unified portfolio view. This comprehensive offering encompasses financial analysis, advanced planning, tracking, automated data management, insightful analytics, peer benchmarking, and forecasting, which are all seamlessly accessible through a single holistic dashboard. 

Amid the largest wealth transfer in history – an anticipated shift of $68 trillion from baby boomers to their heirs – a whole new cohort of investors needs to quickly become financially savvy. With over 22 millionaires in the US alone, many from the ranks of the younger, more tech-savvy generations, the urgency for effective wealth management tools with a holistic, transparent, and comprehensive approach to wealth management has never been greater. 

At the same time, individuals and families navigating sophisticated investment portfolios often face the daunting task of managing a variety of financial assets and asset classes, including balancing multiple passive income streams, responding to capital calls, deciphering financial statements, and handling numerous public and private investments. These complexities, with different levels of liquidity and time horizons, often occur within intricate holding structures. Vyzer’s AI-powered platform addresses these challenges, democratizing wealth management services by eliminating the need for conventional high-cost models and financial advisors, all for a flat annual fee. Vyzer goes beyond simply organizing and overseeing assets; it actively fosters their preservation and enhances portfolio growth potential, making wealth management accessible and understandable. For those put off by the steep fees tied to traditional wealth management or leaning towards a DIY approach but hindered by the limitations of spreadsheets, Vyzer provides an empowering and affordable alternative to control their finances. 

“This investment marks a significant milestone for Vyzer, enabling us to enhance our platform and expand our reach,” said Vyzer Co-Founder and CEO Litan Yahav. “Vyzer is making billionaire wealth management back-office capabilities accessible to everyday investors. The funds will enable us to enhance our platform’s AI capabilities, develop new features, and broaden our market presence. Our ultimate goal is to simplify and streamline complex wealth processes for our customers, equipping each member with greater insights and control. This, in turn, empowers them to maximize their investment potential and foster wealth growth.” 

Powered by advanced AI and sophisticated algorithms, Vyzer optimizes cash flow management and investment foresight, obviating the need for labor-intensive manual data entry and reducing expenses. A standout feature of Vyzer’s solution is its peer benchmarking tool, which harnesses the platform’s AI capabilities to provide clients with unparalleled insights into investment strategies, fund managers, and similar investors’ activities. This empowers users to make informed investment decisions and anticipate financial trajectories that were once considered futuristic. By providing such transparency, Vyzer addresses a critical need in the private market investment industry, notorious for its dearth of information and opacity.

“High-net worth individuals are increasingly gravitating towards private investments – from real estate and startups to private equity. However, the lack of digitization in the management of these alternative investments presents significant challenges when it comes to achieving a holistic overview of their portfolios. Vyzer’s solution provides investors with broad and transparent visibility into their portfolios. It allows them to capitalize on the ever-growing investment landscape by making informed and timely decisions, and it enables them to effectively scale their portfolios at an affordable cost,” said Shelly Hod Moyal, Founding Partner of iAngels. “iAngels is thrilled to partner with Litan Yahav and Tomer Salvi, who prior to Vyzer, successfully founded and sold their first company Segoma, began investing and experienced first-hand the market need for the next generation of digital investment management solutions.”

In an effort to provide added value to like-minded individuals, Vyzer collaborates with private investor communities such as Left Field Investors, Wealth Without Wall Street, GoBundance, and Private Investor Club, equipping them with strategic tools and expertise to drive financial success. For more information about Vyzer’s offerings, please visit https://vyzer.co/

About Vyzer:

Vyzer is a cutting-edge wealth management platform that leverages the power of AI and advanced technology to simplify the complexities of managing diverse investment portfolios for sophisticated investors. The platform offers a consolidated view, automates data aggregation, provides performance tracking, and employs advanced financial planning tools via an intuitive user interface. Committed to transparency and client-focused services, Vyzer is set to redefine the way investors manage their financial lives. Co-founded by Litan Yahav, Tomer Salvi, and Guy Gamzu, the company has offices in Israel and New York.

Media Contact
Joseph Moses
Campaign PR
[email protected]

SOURCE Vyzer

Over-subscribed second fund backs disruptive technologies in diverse industries ranging from built environment, to transportation, energy and agriculture 

SAN FRANCISCO, Oct. 4, 2023 — At One Ventures, the climate tech venture capital firm founded in 2020 by Tom Chi, founding member of Google X, today announced the close of a US$375 million second fund. Like Fund I, Fund II will focus on backing early-stage startups with disruptive technologies that can improve planetary health by resetting the industries causing the most damage to the planet, such as buildings and construction, energy and transportation, and food and agriculture. 

Fund II was raised from a complementary group of Limited Partners, including GenZero, the Temasek-owned decarbonization-focused investment platform company, World Wildlife Foundation, the MacArthur Foundation, CalSTRS, and New Mexico State Investment Council (NMSIC). In addition to institutional investors, At One received continued support from mission-aligned individual investors and family offices such as One Small Planet, Toba Capital, and Valhalla Foundation.

“It’s going to take a different kind of thinking than what got us into the climate crisis to get us out. That’s why we’ve invested in founders coming from a variety of backgrounds and on a global scale, ranging from academics and scientists to investment bankers and scale-up veterans,” said Helen Lin, Partner. “We value diversity of thought so we can get a multi-faceted and in-depth understanding of problems in order to find tangible solutions.”

As a result, 40% of the founders backed by At One are part of groups traditionally under-represented in venture-backed companies (i.e., BIPOC, female). The firm also has a globally distributed portfolio, with 70% of companies in North America, 15% in Europe, and 15% across Africa, South America and Israel.

“We are proud to support Tom and his team as they back the companies that are catalyzing our global transition to a net-zero economy–or rather, net-positive. It’s time to reinvent how we live and how we lead,” said Vinny Smith, Founder and General Partner at Toba Capital.

At One Ventures’ investment thesis is based on what it calls the Triad, which consists of: 1) a disruptive deep tech that ushers in 2) radically better unit economics paired with 3) radically better environmental economics. 

“This combination eliminates most adoption friction as the industry gets to upgrade their production in a way that will be massively more profitable, all while their core production gets much more aligned with planetary health,” explains Managing Partner Tom Chi. “Our team, who all have backgrounds in physical sciences, engineering, manufacturing, or finance, are well-positioned to deeply evaluate physical/hardware businesses that could make a huge difference. Specifically, we look for ‘invention catalysts’ which are technologies that not only improve upon the domain of the invention itself, but also have the potential to ripple–change entire systems of production and use. It is technology that makes us reimagine what is possible for living on a healthy planet. We then get detailed and disciplined in understanding what it will take to commercialize that technology and successfully displace existing brownfield approaches.”

Examples of invention catalysts in At One’s portfolio that are ‘firsts’:

• Dalan Animal Health: The world’s first USDA-approved vaccine for honeybees;
• Halo Car: First to offer remote-piloted electric vehicle transportation to paying customers; and 
• Finless Foods: First to achieve more than 50% cultivated cell composition of lab-grown bluefin tuna.

At One Ventures’ deep tech investment strategy is anchored in physics fundamentals, focusing on techno-economics driven by matter and energy moving through time and space. Breakthroughs or wins in these areas naturally drive significant advantages in unit economics, thus making a new technology the more effective option, and thus driving adoption. 

“Consumers might be okay with paying slightly more for sustainable goods, or a ‘green premium,’ but industrial businesses are far more cost-sensitive,” explains Founding Partner Laurie Menoud. “Take the EV industry. We are shifting from a fuel economy to a materials economy. Each electric vehicle requires over 100kg of mined metals in its battery pack. This demand puts pressure on the mining industry, bringing with it social and environmental challenges. That’s why we invested in Ascend Elements, an advanced materials company that recycles end-of-life lithium-ion batteries and reintegrates the recycled metals directly into EV batteries. With stronger unit economics and similar cathode material performances, they make it an obvious choice for EV automakers to adopt the solution, driving faster positive environmental impact.”

While the firm does focus on traditional climate technology industry verticals, it has an additional layer of impact categories–Air, Water, Soil, and Biodiversity–and carefully tracks the positive impact its portfolio companies have on each of these areas. 

“Climate change is an issue that we all face. It’s a shared problem requiring technical and entrepreneurial-driven solutions powered by innovative technologies, declining cost curves, maturing business models and the world’s assessment of environmental risk. The complexity of climate investing requires cross-disciplinary skill sets to have a nuanced view of potentially viable climate solutions,” said Nick Abel, Portfolio Manager, Sustainable Investments, CalSTRS.

For instance, rather than focus primarily on the abatement of carbon emissions, the firm looks at how each company catalyzes a new restorative and generative relationship with nature, acknowledging that everything is interconnected. For example, five of the 35 companies in its portfolio are currently in Biodiversity, such as Dendra, which provides automated ecosystem restoration by using drones to plant trees and monitor their growth. As more industrial problems are solved, the firm intends to increase investment in companies that are actively regenerative, with a target ratio of 20% in biodiversity by 2025. 

Ms. May Liew, Investment Director at GenZero said, “Nature and technology-based solutions can complement each other and unlock cost-effective decarbonization at scale. At One Ventures’ focus on finding solutions at the intersections of nature and technology for a net positive future aligns with GenZero’s core purpose of accelerating decarbonization globally. We are excited to support At One Ventures in their pursuit of disruptive and scalable solutions with positive catalytic impact.”

Fund II is more than double that of Fund I (US$150M in October 2021), bringing the firm’s total AUM to over half a billion. In addition to Ascend Elements (over US$1B in total funding to date), At One was an early backer of Colossal Biosciences (currently at a US$1.5 billion valuation) and Monarch Tractor, which was named in August 2023 as a Next Billion-Dollar Startup by Forbes. 

“As an LP in both Fund I and Fund II, One Small Planet could not be more thrilled with the partnership with At One Ventures. They are an absolute leader in climate tech, applying deep scientific and sector knowledge to help scale economically viable organizations to help solve the world’s most pressing problems. One Small Planet has deeply enjoyed collaborating with At One Ventures as both an LP and a co-investor,” said Jack Wielebinski, Fund Operating Officer, One Small Planet.

There are currently 35 companies in the firm’s portfolio invested in the past three years, and 11 of them are already booking sales of their products.

About At One Ventures
At One Ventures invests in deep-tech startups catalyzing a world where humanity is a net positive to nature. The firm is highly technical and was founded by Tom Chi, former Head of Experience and founding member at Google X. At One Ventures finds, funds, and grows companies that are using disruptive deep tech to upend the unit economics of established industries while dramatically reducing their planetary footprint. To date, At One Ventures has invested in 35 startups, including battery recycler Ascend Elements, de-extinction company Colossal Biosciences, and biodegradable packaging supplier Cruz Foam. For more information, please visit https://www.atoneventures.com/.

At One Ventures Contact:
Ana Yoerg, VP Marketing
[email protected]

Media Contact:
Chris Allieri
[email protected]

SOURCE At One Ventures

The funding will be used to open an office in Latam to facilitate new strategic partnerships and acquisitions, supporting the company in its ambition of building a $1 billion brand 

NASHVILLE, Tenn. , Oct. 4, 2023 — Trinetix, a leading product development company that drives transformative innovation for multi-billion dollar enterprises, announced today it has secured $10 million in funding from the investment fund Hypra. This strategic funding will enable Trinitex to complete its dynamic expansion into Latin America to enhance operations for its North American customers and grow its presence in the Latam market.

With a strong foothold in Europe and the United States, Trinetix’s forward-thinking approach has attracted a loyal clientele of industry leaders, such as Coca-Cola, P&G, ExxonMobil, Credit Agricole, Dutchie, and McDonald’s. Leveraging its unique expertise in the sector, Trinetix has also strategically positioned itself as a trusted partner to a ‘Big Four’ professional services firm, setting new standards in innovation and operational efficiency. The confidential and long-term partnership has supported the Big Four firm in creating new revenue streams and enhancing efficiency across diverse service domains, garnering significant industry recognition and coveted accolades.

The funding will enable Trinetix to open an office in Latin America, which will facilitate new strategic partnerships and potential acquisitions, strengthening Trinetix’s presence in the market. It will open new doors for the region’s prominent tech talent, allowing them to work with Trinetix’s impressive roster of Fortune 500 businesses and their world-class team, while unlocking new job opportunities — especially important in light of the global financial downturn that has swept the region. In addition to sustaining the company’s rapid growth trajectory, this expansion will strengthen its global presence and further diversify its team of top-tier tech talent, currently distributed across Ukraine, the EU, and the US.

“With 12 years of market experience, Trinetix has built a diverse list of industry-leading clients. We’ve achieved this by providing a quality service led by our team of more than 850 industry experts. We have committed to strengthening our partners’ bottom lines over growing our own balance sheets, with over 80% of our workforce made up of senior-level talent. The incredible results we deliver to our partners have earned us a glowing reputation, as shown by our latest capital raise and a customer retention rate of 85%. Taking our origins in Ukraine, our team initially operated within the country before strategically expanding into both the EU and the US in recent years. Therefore, entering into the LatAm market will allow us to further diversify the team of global tech talent and better cater to our clients’ needs. And that’s just the beginning — we intend to triple our company size in the next four years and become a $1 billion brand within the decade,” – Sasha Strozhemin, Co-Founder and CEO of Trinetix.

“Trinetix’s dedication to innovation is second to none and we’re thrilled to join them on their journey to the top. With a dynamic roster of clients, a resilient global team, and an impressive track record of success, we are confident that Trinetix will most definitely continue providing results that will benefit itself, its investors, partners, and its global workforce,” — stated Igor Pertsiya, Managing Partner at Hypra.

ABOUT TRINETIX

Trinetix is a trusted digital product partner to world-renowned enterprises and fast-growing brands globally that empowers forward-thinking leaders to bring impactful ideas to digital reality. Since its launch in 2011, Trinetix has successfully completed over 2,000 client engagements, including multi-billion dollar enterprises such as Coca-Cola, P&G, ExxonMobil, and McDonald’s, unlocking more than $4 billion in revenue for its diverse client base. Trinetix employs more than 850 industry professionals across its headquarters in Nashville, United States, and various offices in Europe. With plans to expand into Latin America, the company intends to triple in size by 2027.

ABOUT HYPRA

Hypra Fund is a Kyiv-based investment fund that provides financial backing and comprehensive support at all stages. Since launching in March 2022, Hypra has attracted $25 million in investment despite the challenges presented by the full-scale war in Ukraine. Currently, the fund is actively investing in companies that provide software as a service, having already provided backing to three software development firms. These include Boosty Labs, the European Union’s biggest development hub dedicated solely to blockchain; Evacodes, a Web3 development firm; and Trinetix, a leading digital product development company.

Media Contact

Nadya Movchan
Movchan Agency
nadya@movchanpr.com

SOURCE Trinetix

Aviation Cybersecurity Ensures Safe, Secure, and Proactive Defensive Measures and Supports Airlines and Operators’ Compliance with Upcoming Regulations

TEL AVIV, Israel, Oct. 4, 2023 — Cyviation, the first cybersecurity company focusing on aircraft security by providing multiple layers of resilience ranging from fleet assessment and aircrew training to Aviation SIEM – aircraft cyber event management, announces an additional $4M raise. This funding is part of a larger round and is expected to enter Series A by H1 2024.

The company recently announced they have reached the commercial stage of its SkyRay™ solution ahead of plan and is already engaged with multiple industry players, from commercial airlines to OEM, manufacturers, and regulatory agencies. One of the companies pioneering the adoption of Cyviation’s SkyRay solution is Polaris Aviation Solutions, a global aircraft management, charter, and project management company.

Arik Arad, Cyviation’s Chairman and a seasoned veteran in the aviation security domain underscored the urgency, saying, “It’s not a question of if, but when an aircraft will fall prey to a cyber-attack. We must consistently remain ahead of attackers, anticipating and neutralizing threats before they manifest.”

With cutting-edge remote assessment tools, Cyviation’s continuous, non-intrusive fleet assessment capabilities evaluate and map aircraft vulnerabilities. The assessment process includes threat impact analysis, recommended mitigations, and cyber resiliency to bolster and safeguard passenger and crew safety from malicious attacks.

Michael Santiago, CEO and President of Polaris Aviation Solutions, said, “In an industry lacking cybersecurity solutions, Cyviation provides the technology and tools that are desperately required, especially for business clients more sensitive to their privacy and safety. It is a pleasure to collaborate with an experienced team, and we are looking forward to continuing to innovate together.”

The urgency for advanced cybersecurity in aviation is underscored by Technavio’s recent forecast, which sees the aviation cybersecurity market expanding by 38.08 billion USD between 2022 and 2027. Concurrently, aviation regulators worldwide are crafting and enforcing more stringent cybersecurity standards, underscoring the need for advanced protective strategies.

Echoing this sentiment, Cyviation’s CEO, Avi Tenenbaum, added, “In a world where cyber threats are ever-present and regulatory measures continuously evolve, our mission is to provide the aviation sector with unparalleled cybersecurity defenses.”

Additional Cyviation news will be announced in the coming weeks.

About Cyviation
Launched in 2021, Cyviation dedicates its resources to shield commercial airlines and private jets from cyber adversaries. Headquartered in Herzeliya, Israel, and in the process to establish a U.S. presence and entity, the firm’s vision encompasses a vast global footprint in its ambitious expansion roadmap.

SOURCE Cyviation

Backed by leading Japanese and US VC firms and a world leading semiconductor company, EdgeCortix is set to disrupt the multi-billion-dollar edge market

TOKYO, Oct. 3, 2023 — EdgeCortix® Inc., a Japan-based edge artificial intelligence (AI) fabless semiconductor development and design company today announced the closing of a $20 million (approximately ¥3 billion) funding round led by Japan’s foremost venture capital (VC) firm SBI Investment Co. Ltd. and Global Hands-On VC (GHOVC), a leading Japan-US collaboration-focused VC with a history of successful semiconductor investments. In addition, EdgeCortix also received an investment from Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, to extend its strategic collaboration with EdgeCortix on AI/ML (Machine Learning) development. Existing investors Cycle Group and Monozukuri Ventures also joined this round.

EdgeCortix was founded by company CEO Dr. Sakyasingha Dasgupta on the groundbreaking idea of creating a high-speed yet very low-power, flexible edge AI-focused processor with a radical software-first approach. Today, the company’s suite of proprietary software and AI chip products accelerate AI inference tasks for computer vision, natural language processing and generative AI applications, at very low power and low latency, across the complex world of systems operating outside of typical data centers (colloquially called “the edge”).

As its core mission, EdgeCortix aims to democratize access to machine learning solutions by solving the fundamental problem of delivering near cloud-level AI performance at the edge while achieving over ten times better performance and energy efficiency versus conventional GPUs, CPUs and other commonly used processors.

The company has leveraged its patented AI hardware and software co-exploration process to design a novel AI-specific runtime reconfigurable processor from the ground up. This approach contrasts sharply with the typical methods of the last few decades that have focused on first bringing hardware to market, with software treated as an afterthought. The need for this type of integrated solution is rapidly accelerating as the capabilities of general-purpose processors like CPUs and GPUs are quickly becoming outmatched by the workload needs found in today’s neural networks, especially in deployment of generative AI applications; from the data center to the power and latency sensitive edge environment.

EdgeCortix will employ the new funds to bring to market the next generation of SAKURA hardware products, while expanding its business by growing its global sales and marketing capabilities. The company also plans to bolster its engineering capacity in Japan and open a new development center in India. EdgeCortix will also selectively hire elite talent in key technology roles with an eye to releasing new generations of its AI focused semiconductor products, spurring further innovations in energy efficiency, including delivering low-power multi-modal generative AI, automation AI and efficient language model capabilities to edge devices.

The edge AI inference market, EdgeCortix’s key focus area, is growing rapidly across the globe. By 2025, more than 75% of enterprise-managed data will be generated or processed outside the typical data center (or at the “edge”)^[1], with the total addressable market (TAM) growing to reach US$84 billion^[2]. The Asia Pacific region in particular, fueled by significant demands for energy-efficient AI processing across commercial, defense and aerospace applications, is projected to see the highest compound annual growth rate in the world, at an anticipated 40.8% from 2022 to 2027^[3].

“The ability to bring AI acceleration capabilities into existing, complex heterogeneous computing systems at low cost, with low latency and industry leading energy efficiency is our mission and the fundamental value proposition of EdgeCortix’s products and technology,” said Founder and CEO Dasgupta. “We are thrilled that multiple leading VC firms and strategic partners have recognized the value we bring to this fast moving, fast-growing market. We are pleased to welcome SBI Investment, GHOVC and Renesas to the EdgeCortix family. This funding round along with the recognition from strategic investors is a testament to our incredibly talented team, globally recognized partners and customers. We are eager to continue to scale our business with a focus on enabling low-power AI across the edge ecosystem.”

“SBI Investment cultivates innovative companies under our management philosophy as a ‘New Industry Creator.’  We aim to be a leading company in the creation and development of the core industries of the 21st century.  The semiconductor sector is clearly a core industry, which is so important that it has often been called ‘the rice of industry.’ We have conducted extensive research focusing on the rapidly evolving and growing AI semiconductor market and we are convinced that EdgeCortix is a company that can provide truly innovative products and services and keenly differentiate itself from its competitors. At SBI, we are committed to supporting the EdgeCortix management team, as they possess the necessary skills, drive and business acumen to lead the industry. Together with EdgeCortix we will pioneer the future of Edge AI,” commented the SBI Investment Department Management Team, Yusuke Matsumoto, Executive Officer, General Manager, Shohei Yamada, Deputy General Manager, Koshiro Ashizawa, Assistant Manager.

“We have been collaborating very successfully with the EdgeCortix development and management teams over the last two years by integrating their MERA compiler, software and toolset with our own proprietary AI/ML chipsets,” said Mohammed Dogar, Vice President of Global Business Development and Ecosystem at Renesas Electronics Corporation. “EdgeCortix solutions are innovative and highly scalable. We look to continue to expand our business relationship across our collective edge AI-focused portfolio of products.”

“Over the last three years, GHOVC has provided both financial and consultative resources in support of the greater Japanese startup ecosystem,” said Shri Dodani, a Founder & Managing Partner of GHOVC. “After meeting EdgeCortix, we quickly realized it was a perfect fit for our model: A Tokyo-based technology company that also operates a meaningful global business, focused in developing innovative hardware and software in the edge AI space. Our team is well positioned to support the EdgeCortix team in growing and delivering their industry leading solutions across the globe.”

To date, the company has brought three products to market including: MERA, its multiple hardware platform compatible compiler software framework; Dynamic Neural Accelerator (DNA), it’s scalable, run-time reconfigurable neural network processor intellectual property (IP) and the power-efficient TSMC 12nm technology-based SAKURA AI co-processor device. Together, these three products form an integrated platform that is especially suited for real-time AI applications with streaming data, such as high-resolution cameras and sensors, autonomous and controlled robotics systems, signal processing, language models and multi-model generative AI-based systems. The EdgeCortix Edge AI platform delivers industry leading AI inference capabilities across power and mobility-sensitive devices like aerial, underwater or ground-based vehicles, smart city tech, smart manufacturing, visual processing and 5G-AI integrated systems.

In conjunction with the close of this funding round, senior leaders from both Renesas and GHOVC will be joining the EdgeCortix Board of Directors.

About EdgeCortix

Pioneering the future of the connected intelligent edge, EdgeCortix was founded in 2019 as a fabless semiconductor company focused on energy-efficient AI processing. In September of the same year, it established its R&D headquarters in Tokyo. Taking a software-first approach, EdgeCortix patented its “hardware and software co-exploration,” system, using it to design an artificial intelligence specific runtime reconfigurable processor from the ground up. Shipping its software and hardware products to customers globally, the company is geared towards positively disrupting the rapidly growing edge AI hardware space across defense, aerospace, smart cities, industry 4.0, autonomous vehicles and robotics.

www.edgecortix.com 

Press inquiries:
FGS Global
[email protected];
Mike Oakland Tel: 090 6205 4780
Maiko Nabeta Tel: 070 7467 8016

SOURCE Edgecortix, Inc.