SAN FRANCISCO, Sept. 7, 2023 — Flickr, in joint partnership with SmugMug, announced today a new grant with the Black Women Photographers collective (BWP) to celebrate the community’s three-year anniversary.

This transformative grant includes a fund of $2,500, dedicated to advancing the recipient’s photography practice, coupled with a two-year Flickr Pro membership and a one-year SmugMug Pro subscription. Additionally, ten deserving recipients will receive a one-year Flickr Pro membership and a one-year SmugMug Pro subscription.

Scott Kinzie, VP of Marketing at Awesome, parent company of Flickr and SmugMug, expressed his enthusiasm for this partnership, stating, “We are thrilled once again to support Black Women Photographers. Their mission to provide a platform for Black women and non-binary photographers aligns with our core values, and we believe it’s essential to ensure those stories and perspectives are shared with the world. We’re honored to support them in ways that will help enhance their reach, amplify their impact, and further their mission.”

A panel of judges for the grant has been assembled, featuring notable figures such as Polly Irungu, the founder of BWP; Edwina Hay, an esteemed member of both BWP and Flickr since 2004; MacKenzie Joslin from the Flickr Community team; Alastair Jolly, SmugMug’s Senior Global Brand Manager & Head of Ambassador Relations; and Frederick Van Johnson from This Week in Photo.

“Community is core to the work and identity of BWP, so I’m honored to partner with a brand that has been fostering that from day one,” says Irungu. “Flickr has poured back into their community countless times, and I am excited for them to pour into the BWP community with this grant opportunity.”

How To Apply 

To be eligible for the grant, applicants must meet the following criteria:

Applications for this grant will close on October 6th, 2023. We urge all eligible individuals to apply and share this incredible opportunity within their networks before the deadline.

About Black Women Photographers

Founded by Polly Irungu and launched in July of 2020, Black Women Photographers (BWP) is a global community, directory, and hub of over 1,500 Black women and non-binary identifying photographers, spanning over 60 countries and 35+ U.S. states. Black Women Photographers is a home for Black women to receive proper recognition and, most importantly, get hired. BWP supports its members through promoting their work in an active database distributed to photo editors, directors, curators, and art buyers.

About Flickr

Flick, founded in 2004, is the world’s largest photography community, committed to elevating the memories, artistry, and impact of all your photos. Fueled by passionate photographers for nearly 20 years, Flickr provides users with the safest and most inclusive platform for sharing and connecting through photos and videos. Since its acquisition by SmugMug in 2018, these united brands have created the most influential photography-focused community globally. Both brands are dedicated to continually thrilling their customers and delivering awesome as part of their evergreen mission as a company.

SOURCE Flickr

AI-based testing company Testaify, Inc. secures $650k in pre-seed funding,
positioned for a breakthrough in the software testing process.

MIAMI, Sept. 7, 2023 — Testaify, Inc., an innovative AI-driven software testing platform, is proud to announce the successful closure of its pre-seed funding round, surpassing its initial goal by 30%. The company has raised an impressive $650,000 in investments, marking a significant milestone on its journey to transform software testing forever.

Led by a team of seasoned technology leaders with decades of experience managing significant development and testing teams, Testaify’s mission is to enable software companies to develop high-quality software by solving the fundamental issue with software testing: poorly designed tests. “AI gives us the power to model the product, design test cases, generate test scripts, and execute tests in a fraction of the time, freeing developers to build features,” says founder Rafael E. Santos. He explains, “Because our AI offering intrinsically understands all of the testing methodologies, companies will achieve their quality testing goals while releasing better software more quickly.”

The company’s recent funding success coincides with its establishment in Miami, Florida, a tech hub known for innovation and technological advancements. The raised capital enables strategic hires in marketing and AI/machine learning.

Mr. Santos says, “Our pre-seed round achievement is a testament to our investors’ enthusiasm and commitment to Testaify’s potential to disrupt the software testing landscape. As technology leaders, we want more than incremental software quality improvement as the ROI for significant investment in tools and people. The status quo hires more testers who need expensive tools to be productive. Testaify sells testing, not people, and requires no additional tooling.” He adds, “We are thrilled, humbled, and grateful to have secured this funding which will drive the development of our product and bring us one step closer to realizing our vision.”

Testaify is poised to make a significant impact in the software development industry. The company’s innovative approach, combined with its successful pre-seed funding round and strategic positioning, underscores Testaify’s potential to reshape the future of software testing. Interested parties may join the Testaify waitlist by visiting www.testaify.com/contact.

About Testaify, Inc.: Testaify is an AI-based testing platform that delivers faster, more accurate, less labor-intensive comprehensive testing – no additional tools or documentation required! Led by seasoned technology leaders, Testaify enables software development companies to measurably improve product quality. With a strategic presence in Miami, Florida, and an expert team of AI professionals, Testaify is at the forefront of software testing innovation. Our mission is to fix testing forever because end users deserve high-quality software. Learn more at www.testaify.com.

For media inquiries or further information, please contact:
Lisa Fatolitis, Director of Marketing, [email protected], 727-698-8770

SOURCE Testaify, Inc.

NEW YORK , Sept. 7, 2023 — Younite-AI, a frontrunner in AI and XR software solutions, is thrilled to announce the successful completion of a substantial round of private equity financing from Bocap. This collaboration sets the stage for accelerated growth and the development of state-of-the-art AI and XR technologies, solidifying Younite-AI’s standing at the AI and XR forefront.

This infusion of capital is a reflection of Younite-AI’s track record of successful initiatives and an essential leap towards their ambition: reshaping industries like automotive, among others, by tapping into the transformative power of AI and XR. Their sophisticated software offerings furnish businesses with intelligent experiences that amplify decision-making, boost efficiency, and revolutionize operational methodologies.

Afa Heikkinen, CEO of Younite-AI, expressed appreciation for Bocap’s support. “We are thrilled to welcome Bocap as our strategic partner. Their deep expertise and dedication to innovation resonate strongly with our future vision. This investment will significantly help to fuel positive momentum behind a unique offering and boost our growth, particularly in our primary market, the United States.”

Julianna Borsos, Founding partner and Chair of Bocap, echoed their enthusiasm, “Younite-AI is at the forefront of the AI and XR revolution, and we are thrilled to be a part of their growth story. We believe in their potential to transform industries through innovative technologies, and we’re eager to back their ongoing expansion and drive for market dominance.”

Younite-AI is a creative technology company focused on building the next generation of AI & XR-based digital products and systems. Our talented team combines expertise in design, development, AI, 3D technologies and creative thinking to solve business problems, crafting solutions that generate immediate, and ever-increasing ROI. With offices in New York and Helsinki, our track record of success and unwavering commitment to quality make us a trusted global partner for businesses seeking transformative software solutions that save costs, drive growth, and enhance the digital experiences of our clients and their customers.

Website: https://younite-ai.com/
Locations: New York, Helsinki, Oulu

SOURCE Younite-AI

NEW YORK, Sept. 7, 2023 — Today, Ampla, a leading provider of financial solutions for consumer brands, announced the raise of a $258m credit warehouse with Goldman Sachs and Atalaya Capital Management. The new debt facility provides incremental financing to power Ampla’s Growth Capital products and allows the company to continue building the all-in-one platform for Consumer Brands.

“The landscape for consumer brands has changed dramatically over the last several years, and Ampla has evolved in tandem to continue to meet these customers’ unique needs,” said Anthony Santomo, CEO and co-founder of Ampla. “Despite macro challenges, modern consumer brands have proved their resilience by leveraging technology to adjust quickly and Ampla has been alongside them every step of the way,”

“Our platform today marries flexible capital terms with best-in-class digital banking and corporate card products that make us the preeminent solution for consumer brands looking to free up cash flow, make their money work harder for them, and fuel growth.”

The deal comes at a time when Ampla is evolving its product offering to encompass a full suite of financial tools, including Growth Capital, Digital Banking, Insights, and its new Visa Corporate Card. Ampla recently reached major milestones, surpassing over $1.5B in originations, and processing a run-rate of $6.0B in transactions through its platform.

“Atalaya is excited to help Ampla in their mission to bring a full-suite, customer-focused experience to Consumer Brands seeking capital, banking, and card solutions for their day-to-day needs. This new capital will allow Ampla to further enhance its position as a market leader across the Consumer Brand ecosystem and we are proud to add our unique structuring expertise,” said Brian Moore, a Principal at Atalaya.

The company plans to continue launching complimentary products that will streamline operations for consumer brands. By introducing new products at strategic stages of a business’s life cycle, Ampla is improving the likelihood of success for consumer brands. Hundreds of rapidly growing brands including Carbone Fine Foods, CUTS, and Serenity Kids use Ampla’s platform to power their business.

About Ampla:
Ampla powers commerce across the consumer brand ecosystem. Ampla’s all-in-one financial platform built for omnichannel consumer brands offers embedded banking, bill pay, analytics, growth capital, and corporate card solutions. Founded in 2019, Ampla is based in NYC and backed by leading investors such as VMG, Forerunner, M13, Infinity Ventures, and Core Innovation Capital. Ampla raised a $60 million series A round in December 2021.

About Goldman Sachs
Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

About Atalaya Capital Management
Atalaya Capital Management is a privately held, SEC-registered, alternative asset manager. Atalaya primarily focuses on making private credit and special situation investments in three principal asset classes—specialty finance, real estate, and corporate. Founded in 2006, Atalaya is headquartered in New York City and has more than $10 billion in assets under management, and has deployed over $17 billion across 600+ investments.

SOURCE Ampla

Vaulted Deep launches with a major carbon removal purchase facilitated by leading advanced market commitment Frontier.

HOUSTON, Sept. 7, 2023 — Advantek Waste Management Services, a pioneer in the science of deep injection wells, announced today the launch of Vaulted Deep (“Vaulted”), a stand-alone biomass carbon removal and storage (BiCRs) carbon removal (CDR) company. Carbon removal is an essential part of managing global emissions and reaching net zero targets. With the market finally evolving for carbon removal and demand increasing for proven and measurable CDR solutions, Vaulted Deep will provide high-quality, lower-cost carbon removal for entities participating in the voluntary carbon market to offset their unavoidable emissions.

Vaulted intercepts sludgy organic wastes – like biosolids, agricultural & livestock waste, paper sludge, and others– before they are dumped in a landfill or waterway or are left on land to decompose and pollute the air or water. Carbon sequestration from this wide range of organic wastes provides substantial co-benefits: it eliminates significant methane emissions (which Vaulted does not include in its credit accounting); it reduces water-borne illness and prevents pollution that disproportionately affects marginalized communities.

A recent study from Louisiana State University estimated organic waste produces five gigatons of carbon dioxide per year, or roughly half of the tonnage required to meet global net zero emissions. Vaulted’s exclusive use of Advantek’s patented deep well slurry injection technology, initially developed to remediate legacy waste deposits from oil and gas developments, will sequester the tons of carbon trapped in these organic wastes deep in the earth.

“Across the market, there has been a ‘flight to quality’ as buyers increasingly value real, measurable carbon credits,” said Vaulted CEO Julia Reichelstein. “By leveraging a decades-proven technology that can permanently store carbon, Vaulted’s CDR can serve as the Net in Net Zero.”

Increasingly, emissions avoidance and reduction credits, which currently comprise 95 percent of the market, are coming under scrutiny for their low quality. The Science Based Targets Initiative (SBTI) has declared that only carbon removal (not avoidance or reduction) is valid for companies to utilize as offsets to achieve their Net Zero or other climate goals.

Catalyzed by $8 million in seed funding, led by major carbon removal fund Lowercarbon Capital, Vaulted is launching with a significant amount of its 2023 capacity going to pre-purchases facilitated by Frontier, an advance market commitment for carbon removal.

“Vaulted is literally cleaning up the planet, scaling field-proven injection terminology to safely dispose of harmful wastes like biosolids while permanently storing away millions of tons of CO2,” said Ryan Orbuch, Partner at Lowercarbon Capital.

While injection sequestration sites often take years to permit and become operational, Vaulted is emerging with two operational, permitted injection sites.

Unlike its competitors, Vaulted’s ability to take a range of wastes with minimal upstream processing reduces overall long-term costs for carbon removal, unlocking a dramatically lower cost point. Other high-quality, permanent carbon removal available on the market today cost over $500 per ton. Vaulted offers carbon removal for $300 per ton and expects price to come down significantly before 2030. 

Advantek founder Omar Abou-Sayed will transition from CEO to Chairman of Advantek and will lead Vaulted as Executive Chairman, with CEO Julia Reichelstein, former investor at climate tech venture capital fund Piva Capital.

Abou-Sayed said the new company will be able to remove much more carbon dioxide than its contemporaries. “Unlike many carbon removal technologies still in R&D, Vaulted’s technology and sites can safely and permanently store carbon underground, at scale, today. The early removals we will deliver are pivotal to keeping the window open to hold our planet’s warming below 1.5 degrees Celsius.”

About Vaulted Deep
Vaulted Deep is a biomass carbon removal and storage (BiCRs) carbon removal company dedicated to the geologic sequestration of organic wastes. Vaulted Deep’s mission is to utilize the proven and patented geologic slurry injection technology for permanent carbon dioxide removal (CDR) through the sequestration of organic wastes, thereby accelerating the earth’s natural process and contributing significantly to the global fight against climate change. Vaulted Deep is backed by Advantek and Lowercarbon Capital, Earthshot Ventures, and others. To learn more, go to www.vaulteddeep.com. 

About Advantek Waste Management Services
Advantek Waste Management Services (Advantek) is an industrial waste management company, building a cleaner more sustainable world by using injection wells to minimize the impacts from human activities on our land, air, water, and climate through better management of complex and liquid wastes. Advantek and its predecessor entities have made pioneering advancements in the field of slurry injection. Advantek operates globally and is headquartered in Houston, Texas. For more information: www.advantekwms.com. 

SOURCE Advantek; Vaulted

Strengthens Existing Strategic Learning Partnership with InnoEnergy Skills Institute

ATLANTA, Sept. 7, 2023 — NIIT Learning Systems Limited [NIIT Managed Training Services (NIIT MTS)] announced that it has made a strategic investment in the private placement round of KIC InnoEnergy, SE (EIT InnoEnergy) – EIT InnoEnergy secures over €140 million in private placement round. With this investment, NIIT MTS joins the cap table as one of the new strategic investors in the private placement round that includes major players from industrial, financial, training, and digital sectors to accelerate the clean energy industrial innovation.

Earlier this year, EIT InnoEnergy had selected NIIT MTS as a strategic partner of the EIT InnoEnergy Skills Institute. The strategic investment reinforces NIIT’s commitment to the strategic learning partnership with the EIT InnoEnergy Skills Institute. The investment bolsters NIIT MTS’ core goal of developing the human capital and skills to enable decarbonization and make a meaningful contribution to the rapid transition to Green Energy.

EIT InnoEnergy was established in 2010 and is supported by the European Institute of Innovation and Technology (EIT), a body of the European Union (EU). EIT InnoEnergy operates at the center of the energy transition and is the leading innovation engine in sustainable energy, bringing the technology and skills required to accelerate the energy transition and progress towards global decarbonization efforts.

EIT InnoEnergy is ranked as Europe’s top impact investor in cleantech in 2022, named in 2023 as a top 10 active deep tech investor by Sifted, and is recognized globally as the most active sustainable energy investor. EIT InnoEnergy backs innovations across a range of areas including energy storage, transport and mobility, renewables and sustainable buildings and cities – leveraging its trusted ecosystem of partners and shareholders.

This partnership capitalizes on NIIT’s global reach and robust infrastructure, enabling the rapid deployment of services and accelerating training initiatives across Europe, Asia, and North America. NIIT will also spearhead the go-to-market program, expanding the offering to a diverse range of industries and companies across the global green energy value chain. Additionally, NIIT will establish and manage a network of local training partners in multiple countries, further expediting adoption and impact.

The transition to net zero presents the century’s most significant opportunity, triggering an unprecedented demand for talent and skills worldwide. To realize this ambitious goal, up to 18 million workers will require retraining globally. For instance, the number of solar PV jobs is projected to quadruple between 2015 and 2030. This strategic investment strengthens the partnership between EIT InnoEnergy and NIIT, providing opportunities for close collaboration in addressing the challenges and seizing the immense potential of decarbonization.

“New strategic players have joined InnoEnergy’s outstanding cap table, several shareholders have reinvested, and altogether we have secured sufficient fresh financial resources to double our on-going impact”, said Diego Pavia, CEO of InnoEnergy.

InnoEnergy currently has a portfolio of 200 companies, three of which are unicorns, on track to generate €110 billion in revenue and save 2.1G tons of CO2e accumulatively by 2030.

“As the world accelerates decarbonization initiatives, NIIT MTS has a two-fold commitment to the green energy transition as a strategic partner of EIT InnoEnergy. On the one hand, we are excited to be the strategic learning services partner of the InnoEnergy Skills Institute to help rapidly scale and create the highly skilled and certified human capital essential for the rapid transition to Green Energy. On the other, we believe that EIT InnoEnergy is poised to be the green transition thought leader and partner of choice for corporations and governments globally,” said, Sailesh Lalla, Chief Business Officer at NIIT MTS.

“This is why we have strategically invested in EIT InnoEnergy as a shareholder to reinforce our commitment to the partnership. This partnership will also help us make a meaningful contribution to decarbonization while leveraging our core strength of developing the human capital and skills to meet the needs of the fourth industrial revolution globally. We are looking forward to a long and successful collaboration with EIT InnoEnergy and the InnoEnergy Skills Institute,” he added.

About NIIT Learning Systems Limited
NIIT Learning Systems Limited [NIIT Managed Training Services (NIIT MTS)] offers Managed Training Services to market-leading companies across 30 countries. Trusted by the world’s leading companies, NIIT MTS provides high-impact managed learning solutions that weave together the best of learning theory, technology, operations, and services to enable a thriving workforce. The NIIT MTS comprehensive suite of Managed Training Services includes Custom Content and Curriculum Design, Learning Delivery, Learning Administration, Strategic Sourcing, Learning Technology, and L&D consulting services. With a Net Promoter Score of 9 on 10 and a 100% renewal rate, NIIT MTS helps leading companies transform their learning ecosystems while increasing the business value and impact of learning. www.niitmts.com

SOURCE NIIT

SANTA CLARA, Calif., Sept. 7, 2023 — Roambee, the global supply chain visibility and intelligence provider, proudly announces the appointment of George de Urioste as the newest member of its Board of Directors. This strategic move is poised to amplify the company’s trajectory as a leader in the supply chain technology space.

de Urioste’s illustrious career, spanning over three decades, is a testament to his profound      expertise in finance and operational leadership, coupled with his strategic insights. His exceptional background positions him as a catalyst for Roambee’s ambitious growth plans. With a history of pivotal roles, including CFO, COO, and board positions, at various public and private enterprises, de Urioste has consistently demonstrated his ability to guide companies through transformative phases. He has navigated an impressive track record of IPOs, substantial M&A deals, and capital-raising ventures, amounting to over $½ billion.

de Urioste’s profound influence extends far beyond the boardroom. His Hispanic heritage, coupled with his unwavering commitment to diversity and inclusion, harmoniously aligns with Roambee’s core values of inclusivity and innovation. de Urioste’s appointment reaffirms Roambee’s dedication to fostering a diverse and empowering work environment that mirrors the broader world.

In response to his recent appointment, George de Urioste stated, “I am thrilled to join Roambee’s dynamic team at this crucial juncture. Roambee’s commitment to innovation and its relentless pursuit of delivering exceptional value align perfectly with the principles that have guided my career. I eagerly look forward to contributing my expertise in steering Roambee’s ambitious growth and shaping its strategic evolution.”

Sanjay Sharma, CEO at Roambee, emphasized the value of de Urioste’s addition, stating, “George’s appointment significantly enhances our board’s collective expertise and strategic vision. His impressive background in finance, coupled with his track record of navigating growth and transformation, aligns seamlessly with Roambee’s ambitions. We are excited to tap into George’s unique insights and experiences as we chart our course to enable the autonomous supply chain.”

Roambee continues to redefine the landscape of supply chain intelligence through pioneering solutions that empower businesses across industries. de Urioste’s appointment to the board serves as a testament to Roambee’s steadfast commitment to leveraging top-tier expertise to drive its ambitious growth objectives as mentioned in the company’s latest newsletter for H1 2023.

About Roambee

Roambee is a supply chain visibility & intelligence provider enabling on-time, in-full, in-condition delivery of shipments and assets anywhere in the world. 300+ enterprises are improving customer experience, service levels, product quality, order-to-cash cycles, business efficiencies, sustainability, and automating logistics with Roambee’s real-time insights & foresights. More than 50 of them are the top 100 global companies in the Pharma, Food, Electronics, Chemicals, Automotive, Packaging & Containers, and Logistics sectors. Roambee’s innovative AI-powered platform, and end-to-end monitoring solutions, deliver reliable business signals built on item-level, firsthand IoT sensor data and non-sensor inputs. The outcome is 70% better multimodal ETAs, OTIF deliveries, 80%+ cold chain compliance, and more, including 4X+ ROI on supply chain asset performance.

For more information, visit Roambee.com or connect on LinkedIn.

Media Contact:

Susana Leiser
Warner Communications for Roambee
Email: [email protected]
Phone: +1 786-403-8393

SOURCE Roambee

Former MLB Exec Creates Dynamic Hub to Deliver All-in-One Sports Experience; $1.6M in Pre-Seed Funding from Miami FC and Series A Owner, IMG and Entourage veteran sports executive, and Astralis Capital

SAN FRANCISCO, Sept. 7, 2023 — Takes, an innovative, all-encompassing sports experience app, today announced its official launch out of beta on the heels of a $1.6M pre-seed raise. Backed by industry heavyweights including Riccardo Silva, Co-Owner of AC Milan and Miami FC; along with co-founder of MP & Silva (MPS) and sports business veteran, Carlo Pozzali; Astralis Capital, a digital sports and gambling focused fund managed by Tisno Onggara and Evan Meyer; and Joe Inzerillo, CPO + CTO at Sirius and Tech Visionary behind MLBAM & BAMTech. Takes is putting interactive, crowdsourced, and snackable content in the hands of sports fans everywhere – with initial users at 15+ launched college campuses nationwide.

Developed by former MLB and Amazon product executive, Michael Iams, Takes is a dynamic hub where fans can share their own sportscaster-quality video commentary, engage with friends and other fans, make live predictions and browse highlights, stats, and analysis.

“Sports have always been about those exhilarating moments that captivate passionate fans,” said Iams, CEO and Co-Founder, Takes. “Takes amplifies these moments by making users feel like they’re at a sports bar with their best friends. With the ability to tap into AI-driven personalization, live interactions, and content co-creation, Takes meets the next generation of sports fans where they are — on their phones – whether at the game, watching live, or just looking for quick content or stats.”

Powered by advanced AI, Takes curates a feed of content tailored to users’ interests, whether it’s following a favorite team, tracking a fantasy league, or staying up-to-date about key players. Users connect with fellow fans as the game unfolds, fostering vibrant conversations and creating an engaging and inclusive sports community.

With a comprehensive suite of creator tools and real-time statistics available, Takes empowers users to step into the role of color commentators, with picture-in-picture editing, telestrators to mark up live plays, and augmented reality filters to express fandom.

“Existing social platforms often fail to cater effectively to the needs of Gen Z sports fans,” said Liz Ludwig, COO and Co-Founder, Takes. “This younger demographic craves more than passive content consumption: they yearn for interactive and personalized experiences that are integrated into their digital-native lifestyle. Takes answers this call by allowing fans to not only watch, but to also participate in and communicate about the games they love in real-time.”

To join the Takes revolution and experience the future of sports interaction, visit: www.takes.live

About Takes:

Founded in 2021 by Michael Iams and Liz Ludwig, Takes is a pioneering sports-focused social platform built to bring people together around their shared love of sport. Emulating the camaraderie found in a sports bar, the platform offers a shared, immersive experience where fans revel in games together. Real-time game feeds leverage generative AI to curate up-to-the-minute stats and organize posts around the moments that matter in sports, while innovative creator tools, allow fans to express their true sports passion. By resonating with the full spectrum of Gen Z sports enthusiasts, Takes provides an unparalleled opportunity for brands to engage authentically with this audience while enabling creators to monetize their unique Takes within a dedicated fan community. Download Takes here and follow on LinkedIn and Twitter.

Media Contact:
Alexandra Pony
250.858.0656
[email protected] 

SOURCE Takes

aelf Ventures is adopting a vertical and stage-agnostic approach to pledge comprehensive support to innovative Web3 projects.

SINGAPORE, Sept. 7, 2023 — aelf, a high-performance Layer 1 featuring multi-sidechain technology for unlimited scalability, announces the launch of aelf Ventures with an aelf Ecosystem Fund of $50 million.

This bold step resonates with aelf’s mission to create a highly efficient and interoperable future, marked by strategic investments in pioneering teams propelling the transition from Web2 to Web3. The initiative also nurtures innovative blockchain projects within the aelf and multichain ecosystems.

“As we navigate the path toward a decentralised Web3 era, aelf Ventures stands as a guiding light for extraordinary minds and groundbreaking projects. Our mission is clear: to champion those who share our vision, investing in founders driven by passion and ideas that resonate with the essence of aelf. The remarkable journey of aelf Ventures is exemplified through notable investments like Crystal Fun and Mythic Protocol, projects that exemplify our dedication to seamlessly transition Web2 users to thrive in a decentralised Web3 future,” said Hazel Zhang, Head of Investments at aelf.

aelf Ventures is led by a cohort of accomplished experts and trailblazers in the crypto sphere. The eminent objectives of aelf Ventures encapsulate:

• Thesis: aelf Ventures materialises as a pivotal arm, uncovering fresh investment opportunities within Web3 and harnessing its potential as a high-performance Layer 1 venture for standout projects within the bustling blockchain realm.
• Investment Approach: With a keen focus on growth stage transition (Web2 to Web3) and novel possibilities, aelf Ventures champions transformative ventures within both aelf and multichain ecosystems.
• Dual-Track Investments: aelf Ventures embarks on both strategic and financial investments in promising blockchain startups and established crypto enterprises. These investments fortify these enterprises’ growth and foster symbiotic relationships and collaborations within the crypto landscape.

aelf Ventures aims to extend its reach into venture investments spanning diverse sectors, targeting avant-garde projects with visionary founders in alignment with pursuing a decentralised future. The fund favours blockchain innovation, addressing substantial market needs in the Web3 space, including but not limited to Gaming, DeFi, NFTs, and Public Goods.

aelf Ventures has invested in Crystal Fun, a decentralised Web3 game ecosystem aimed at converting Web2 game players into Web3 users through high-quality games, and Mythic Protocol, a protocol building a first-of-its-kind collaborative entertainment, allowing the community to contribute and develop a collaborative universe. Aelf Ventures has also incubated projects like Portkey, a social recovery account abstraction wallet; eBridge, a cross-chain bridge; Forest NFT Marketplace, an NFT marketplace; Awaken Swap, a decentralised exchange (DEX); EWELL, an initial DEX offering (IDO) platform; and BeanGo Town, a casual NFT game.

Stay updated on aelf’s news and engage with the aelf community on:
Website: https://aelf.com 
Telegram: https://t.me/aelfblockchain 
Discord: https://discord.gg/bgysa9xjvD   
–

About aelf

aelf, a high-performance Layer 1 featuring multi-sidechain technology for unlimited scalability. aelf blockchain is designed to power the development of Web3 and support its continuous advancement into the future. Founded in 2017 and headquartered in Singapore, aelf is one of the pioneers of the mainchain-sidechain architecture concept. Incorporating key foundational components, including AEDPoS, aelf’s variation of a Delegated Proof-of-Stake (DPoS) consensus protocol; parallel processing; peer-to-peer (P2P) network communication; cross-chain bridges, and a dynamic side chain indexing mechanism, aelf delivers a highly efficient, safe, and modular ecosystem with high throughput, scalability, and interoperability.

aelf facilitates the building, integrating, and deploying of smart contracts and decentralised apps (dApps) on its blockchain with its native C# software development kit (SDK) and SDKs in other languages, including Java, JS, Python, and Go. aelf’s ecosystem also houses a range of dApps to support a flourishing blockchain network. aelf is committed to fostering innovation within its ecosystem and remains dedicated to driving the development of Web3 and the adoption of blockchain technology.

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Disclaimer: The information provided in this press announcement is for general informational purposes only and does not constitute legal, financial, or investment advice. aelf makes no representations or warranties of any kind, express or implied, regarding the accuracy, completeness, or reliability of the information provided in this press announcement. Any reliance you place on such information is strictly at your own risk. Blockchain technology and cryptocurrency involve inherent risks, including but not limited to market volatility, regulatory changes, and potential security vulnerabilities. By accessing and using the information provided in this press announcement, you agree to indemnify and hold aelf, its officers, directors, employees, and agents harmless from and against any and all claims, liabilities, damages, losses, or expenses arising out of or in connection with your use of the information or participation in aelevate. aelf reserves all rights not expressly granted in this press announcement.

SOURCE aelf