One of the world’s largest chocolatiers achieved a 1.5X cold chain compliance boost with Roambee’s AI-Powered Supply Chain Intelligence Platform within 12 months

SANTA CLARA, Calif., Aug. 15, 2023 — Roambee, the global real-time supply chain visibility and intelligence provider, is at the forefront of the food industry revolution with its Supply Chain Intelligence Platform. Built on highly accurate sensor data analytics and paired with AI-powered prediction and decision support, Roambee’s technology enables companies to predict quality compliance of shipments many days before arrival at distribution centers or at stores, ensuring transparency & efficiency from farm to fork.

Roambee’s AI-Powered Supply Chain Intelligence Platform for food cold chains enabled a remarkable transformation for one of the world’s largest chocolatiers. Within just 12 months, their cold chain compliance skyrocketed 1.5 times, from 59% to more than 85%. This achievement was made possible by analyzing real-time conditions both inside and outside reefer containers across various lanes throughout the year. Among 93 lanes, Roambee’s AI utilized sensor input, including location, temperature, humidity, and more, to identify the top 20 lanes responsible for over 60% of temperature and humidity breaches. By prioritizing investment on premium transport models for these 20 lanes instead of all, the company saved millions of dollars.

Despite global supply chain disruptions in recent years, this chocolatier experienced its highest revenue growth in its 100-year history. The company identified new ways to create a more resilient supply chain that ensure availability of top-quality product on shelf. Using first-hand sensor driven signals the company was able to enhance its ability to deliver 26 million pounds of candy every year without compromising the quality of each delectable treat, detect anomalies in its supply chain operations and better forecast cold chain compliance by lane, by transport partner and season.

“Roambee’s cutting-edge technology recognizes the importance of maintaining optimal conditions during the transportation of food and beverages. Beyond the time-sensitive nature of these shipments, the susceptibility to contamination and the need for uncompromised quality are paramount. By providing real-time visibility and intelligent insights into the location and condition of food, Roambee not only enhances quality of delivery in the food industry, but also facilitates traceability, ensuring the origin of the product can be easily determined. Moreover, it fortifies food safety measures, promotes sustainability, and, most importantly, elevates the overall quality of food products,” said Sanjay Sharma, CEO of Roambee.

With the increasing complexity and unpredictability of global supply chains, more food producers and suppliers are harnessing AI data to move to an intelligent supply chain to predict fluctuations in supply and demand, and make more effective real-time decisions. Roambee is at the center of this paradigm shift with its AI-powered platform, built on invaluable first-hand information sourced from IoT sensors. Leveraging this wealth of data, Roambee’s platform can make KPI predictions that are 100 times more accurate than existing AI solutions in supply chain.  

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.

Media Contact 

Susana Leiser
Warner Communications
[email protected]
+1 (786) 403-8393

SOURCE Roambee

Alef Aeronautics receives 2,500 pre-orders for its first in history flying car.

• Alef reports 2,100 deposits from individuals and 400 vehicle pre-orders in B2B agreements
• Pre-orders include 1st in history agreement to sell modern aircraft through a car dealership

SANTA MATEO, Calif., Aug. 15, 2023 — Alef Aeronautics, a sustainable mobility company that is designing and developing a flying car, announced today that it reached 2,500 pre-orders representing $750,000,000 in revenue upon delivery. This includes 2,100 deposits from individuals, and B2B agreements with businesses for sale of 400 cars, including an agreement with a California car dealership.

These deposits signify a proof of market demand from both individuals and corporations for the new mode of transportation, and gives the company valuable insights into future market demographics and breakdown of the initial customer base for flying cars.

On October 19, 2022 Alef emerged from stealth mode and unveiled the first flying car with functionality and look of a traditional car and vertical takeoff and landing capabilities. Pre-orders were opened on the same day on company’s website https://alef.aero/preorder.html 

On June 12, 2023 Alef became the first traditional electric car to receive a limited Special Airworthiness Certificate from the Federal Aviation Authority (FAA).

Alef’s flying car is 100% electric, drivable on public roads and has vertical takeoff and landing capabilities. The car will carry one or two occupants.

“We’re excited to see such strong initial demand for the Alef flying car. We’re are thankful for the notes of gratitude and inspiration we received with some of the pre-orders. We still have a road to go before starting deliveries, but where we’re going, we don’t need roads,” said Jim Dukhovny, CEO of Alef.

“The progress the Alef team has made during a challenging year for startups, has been nothing short of amazing! Jim and the Alef team have achieved impressive milestones in this nascent industry, including the recent special FAA certification,” said Eric Ball, Founding General Partner at Impact Venture Capital. 

About Alef: Alef, based in San Mateo, CA, is a sustainable electric transportation company designing and developing a road-legal passenger car capable of achieving vertical takeoff and forward flight. Alef was founded in 2015 by Jim Dukhovny, Konstantin Kisly, Pavel Markin, Oleg Petrov in Palo Alto, California. Alef’s investors include Draper Associates, Impact VC, Draper B1, Bronco Ventures, Strong VC, Louis Scola, Jim Boettcher, Jim Hurd, Jason Gorrie, Chinney, Knollwood Advisory and others. Alef recently announced the opening of a new fundraising round. More information can be found at https://alef.aero.

About Impact Venture Capital: impactvc.com

Impact Venture Capital is a Silicon Valley-based early-stage venture capital firm that invests alongside corporate venture groups and top-tier investors in early-stage technology startups with a focus on artificial intelligence applied to security, finance, digital health, and other fast-growing industry sectors.

Media Contact:

Impact Venture Capital:

Patrick Bumpus

9166063711

[email protected]

SOURCE Impact Venture Capital

Experienced scientists deliver efficient, sustainable, innovative product development and consulting services for biological and chemical crop protection companies.

INDIANAPOLIS, Aug. 15, 2023 — If you have a novel bio-based or chemical active ingredient, AgXelerators (AgX), is here to turn it into a stable, effective product. Founded by highly accomplished scientists and innovators, AgX partners with crop protection companies from around the world to accelerate the development of their new active ingredients into sustainable, commercially viable products that express their full performance potential. 

Proprietary formulations. From active chemical ingredients to organisms such as bacteria, fungi, algae and microbes, AgX creates proprietary products that are designed to meet clients’ needs and deliver reliable performance, convenience of use and yield enhancement. From initial concept to rapid prototype formulation development, field demonstration, product registration and market introduction, AgX delivers end-to-end support and partnership to its clients.

“We are extremely excited to launch this company to support ag innovators in transforming the landscape of crop protection, plant health and production,” said Mark Zettler, AgXelerators President & Co-Founder. “Many startups, and even seasoned companies, face a common challenge: they can see efficacy of an active agent in the lab or greenhouse but it doesn’t seem to translate to the field or they struggle to build a stable, commercially viable product to take to market, especially with biologicals. We are uniquely positioned to fill this gap and are passionate about doing so.”

Regulatory compliance expertise. The regulatory process ensures that products are safe, have no adverse effects on crops and the environment and that they meet the standards of the countries in which registration is desired. With an intricate knowledge of regulatory requirements, AgX delivers formulations that can confidently be submitted for registration and provides consulting on the regulatory process to ease the path to market introduction.

AgX Co-Founder and Chief Scientific Advisor, Lei Liu states, “Agricultural formulation and regulatory compliance are ever evolving and require continuous creativity to meet grower, market and environmental demands. We use a comprehensive Product Design Analysis involving biology, chemistry, formulation, regulatory, and commercial experts to zero in on successful product development strategies and are adept at identifying and addressing the root causes for potential product failures.”

Best In Class experience. AgX founders, advisors and key stakeholders are comprised of award-winning industry leaders with combined more than100 years of experience in agricultural product development, hundreds of patents, and are responsible for the design of over 200 formulated AgriTech products sold around the world, valued at over $2 billion in annual sales. Self-proclaimed “formulation lifers,” their ingenuity and discoveries have helped innovate various technologies including anti-drift formulations, microencapsulation, and controlled release.

“A good formulation can make the difference between a concept that successfully advances through the development process or not,” said Holger Tank, AgX Senior Director.  “It makes the difference between a product that is well accepted by growers and one that fails.”

About AgXelerators Inc.
AgXelerators (aka AgX) enables innovators of new biological and chemical crop protection, biostimulant, biofertilizer and soil regeneration products to rapidly prototype, test, develop and register their new products for production agriculture. AgX is uniquely qualified to accelerate the development of new, innovative discovery research candidates from around the world into sustainable, commercially viable formulated products. Additionally, AgX leverages their extensive global network of industry connections to foster partnerships that help them succeed.

To learn more or inquire about investment opportunities, please visit agxelerators.com.

Media contact:
Jacquie Maggio
Think3 Marketing
973.462.7008
363711@email4pr.com

SOURCE AgXelerators Inc.

How Raydiant’s Unwavering Commitment Secured a Coveted Spot Among America’s Fastest-Growing Companies

SAN FRANCISCO, Aug. 15, 2023 — Raydiant, the market leader in in-location experience platforms, today proudly announces its ranking on the prestigious Inc. 5000 list of the fastest-growing private companies in America for the second year in a row.

Claiming the 460th position, this recognition attests to Raydiant’s enduring commitment to innovation, excellence, and robust growth.

The Inc. 5000 is an annual ranking that celebrates the remarkable journeys of the fastest-growing companies in the nation. It’s a hallmark of entrepreneurial success, with past honorees including titans like Microsoft, Oracle, and Zappos.com. Raydiant’s repeated recognition is not just an acknowledgment of its exceptional growth rate but also of its capacity to sustain and build upon that momentum.

“We’re humbled and elated to make the Inc. 5000 list for the second consecutive year,” expressed Bobby Marhamat, CEO of Raydiant. “This accolade mirrors the relentless passion, innovation, and dedication of our entire team. This journey has been collaborative, with our partners and clients at the heart of our success. As we look to the future, we’re geared up to push boundaries further and reach new horizons.”

Raydiant’s continued ascent is not just limited to growth metrics. The company has been at the forefront of disrupting the retail landscape, offering a synergy of physical and digital experiences that modern-day consumers crave.

Raydiant’s platform helps restaurants, retailers, banks, hotels, and more effectively manage and scale their physical locations. With Raydiant, franchise operators and executives can reduce technology headaches, seamlessly create personalized in-store experiences, and drive increased sales and engagement.

The company has grown rapidly in recent years, now working with nearly 5,500 brands ranging from SMBs to large enterprises like Dickey’s BBQ, Wahlburgers, Purina, and Chick-fil-A.

Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.

About Raydiant
Raydiant is the top-tier in-location experience platform preferred by the world’s premier brands across diverse sectors such as restaurants, retail, hospitality, and banking. Established in April 2017 and headquartered in San Francisco, California, Raydiant has made its mark by enabling brands to offer captivating and personalized in-store experiences, leveraging the latest technology. Collaborating with approximately 4,500 brands, Raydiant continues to pave the way in defining the future of brick-and-mortar experiences. More information is available at www.raydiant.com.

Contact:
Ryan Helmstetler
650-720-8566
[email protected]

SOURCE Raydiant, Inc.

CAMBRIDGE, Mass., Aug. 15, 2023 — basys.ai, a healthcare technology company co-founded by Harvard alumni Amber Nigam and Jie Sun in 2022 at Harvard University, is excited to announce the successful completion of its latest funding round, securing a total of $2.4 million in investments. This funding will enable basys.ai to further its mission of empowering payers to streamline processes like prior authorization and utilization management.

The funding round was led by Nina Capital, a specialized venture capital firm with deep expertise at the intersection of healthcare and technology. Notable investors who also participated in the round include Eli Lilly & Co., Mayo Clinic, Two Lanterns Venture Fund, Asset Management Ventures, and Chaac Ventures.

basys.ai’s platform engine, trained on over 10 million patient records and claims, automates payer policy encoding through generative AI, which allows basys.ai to achieve target savings with partners up to nine months faster than its competitors. The engine personalizes care approvals to automate up to 90% of prior authorization requests and expedite care delivery. This drives savings on both administrative and medical expenditures for health plans, flattening the cost curve for members. Additionally, to facilitate transparency and explainability, the platform automates answering member and provider queries with its generative AI chat feature.

“Streamlining prior authorization is fundamental to achieving optimal care delivery,” said Mr. Nigam. “basys.ai is assisting health plans in reducing administrative burden and expenditures while improving transparency for members and providers. Our solution’s dual focus on efficiency and transparency ensures health plan compliance with pending CMS, Congress, and State legislation regulating prior authorization. This funding round positions us to facilitate positive change for health plans nationwide.”

By implementing objective, data-driven approvals, basys.ai aligns the incentives of key stakeholders in the prior authorization process to prioritize member interest. basys.ai plans to leverage its funding to expand strategic partnerships with health plans.

About basys.ai:

basys.ai is a healthcare platform that leverages generative AI to streamline prior authorization and utilization management. Through its platform, basys.ai enables greater transparency and fosters collaboration among healthcare insurers, providers, and other key stakeholders, with the ultimate aim of driving positive change, reducing administrative and medical costs, and improving healthcare outcomes. For more information, please visit our website and watch our TEDx Talk.

SOURCE basys.ai

TEL AVIV, Israel, Aug. 15, 2023 — OX Security, the leading software supply chain security solution and founding member of the Open Software Supply Chain Attack Reference (OSC&R), announced today that it received an investment from IBM, the leading hybrid cloud and AI company and the parent company of Red Hat, the world’s leading provider of enterprise open source solutions. The investment represents the companies’ intent to collaborate on expanding the frontiers of software supply chain security and create value for developers of cloud-native solutions.

OX, an Israeli startup established in 2021, is building the first holistic software supply chain security solution – going beyond the CI/CD or SDLC and providing visibility, automation and risk insights from Code-to-Cloud-to-Code. Through a combination of best practices from risk management and cybersecurity and a fantastic user experience, OX makes software supply chain security processes effortless for security teams to manage and easy for developers to adopt. Standardized to the OSC&R framework, OX also provides the continuity and cohesiveness that many security strategies are often lacking.

“This investment from IBM is proof that OX’s holistic security solution for today’s modern software supply chains is the right solution at the right time,” said Neatsun Ziv, Co-founder and CEO of OX Security. “We look forward to working closely with IBM and the team at Red Hat, helping their enterprise customers bake security into product development – ensuring the integrity of every software build, remediating critical risks quickly and releasing secure products with confidence.”

“IBM has been contributing to open source ecosystems for over 20 years,” said Professor Yaron Wolfsthal, Head of IBM’s Security Center of Excellence in Israel. “With over 75% of applications consisting of open source code, it is critical that organizations be able to determine the trustworthiness of the dependencies, tools and infrastructure used in every project.  OX’s holistic approach and its thought leadership in standardizing software supply chain risks represents our commitment to help organizations improve the security of the open source ecosystem,” he continued.

“With IBM’s investment in OX, we continue to emphasize the importance of software supply chain security as a key part of cloud-era application development,” said Ben Daniels, Partner at IBM Ventures.

OX Security demonstrated the company’s solution, running as a Red Hat OpenShift operator, this August at Black Hat 2023 in Las Vegas. OX Security and IBM say they will collaborate to help advance the successful adoption of DevSecOps practices. With this investment, IBM joins existing investors who participated in OX Security’s $34M seed round announced in September 2022.

ABOUT OX SECURITY

At OX, we believe that security should be an integral part of the software development process, not an afterthought. Through a combination of best practices from risk management and cybersecurity and a fantastic user experience, OX makes software supply chain security processes continuous – from design to production – and easy for developers to adopt. Founded by Neatsun Ziv and Lior Arzi, who previously led Check Point’s Security Division, OX provides security and engineering teams with the visibility, prioritization and automated remediation they need to bring security and integrity to every step of the software supply chain and release secure products on time. Visit www.ox.security for more information.

ABOUT IBM

IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.

ABOUT RED HAT

Red Hat is the world’s leading provider of enterprise open source software solutions, using a community-powered approach to deliver reliable and high-performing Linux, hybrid cloud, container, and Kubernetes technologies. Red Hat helps customers integrate new and existing IT applications, develop cloud-native applications, standardize on our industry-leading operating system, and automate, secure, and manage complex environments. Award-winning support, training, and consulting services make Red Hat a trusted adviser to the Fortune 500. As a strategic partner to cloud providers, system integrators, application vendors, customers, and open source communities, Red Hat can help organizations prepare for the digital future. Visit www.redhat.com for more information.

SOURCE Ox Security

• Total equity investment reaches $34 million as Zeelo gears up to serve new US enterprise clients and launch new transportation technology features for bus operators
• Three new venture capital firms from Europe and North America complete the round which was led by FlatzHoffmann with additional participation from existing firms ETF Partners, InMotion Ventures and angel investors
• Co-founders Sam Ryan (CEO) and Barney Williams (CCO) relocate to Boston to scale team and accelerate US expansion
• Commitment to reach net-zero services by 2030, with nearly 10% of all UK Zeelo services already operating on battery electric vehicles

BOSTON, Aug. 15, 2023 — Zeelo, the global transit-tech company powering bus operators, employers and schools to provide highly efficient, sustainable and affordable private bus and shuttle transport programs, has secured $14 million in its latest Series A extension round from three new venture capital firms, including FlatzHoffmann, the European growth equity investor; IREON Ventures, the venture capital arm of Motor Oil Hellas; and a prominent Boston-based family office with a principal that recently took their Nasdaq listing private for $6 billion.

In an oversubscribed investment round led by FlatzHoffmann, with additional participation from angels and venture capital funds, Zeelo commits to accelerate and scale the team and operations and launch new technology products to serve US enterprise clients and operators for employee shuttle transportation needs for commutes across the East and West coasts.

Zeelo, which has live operations on three continents, is on a mission to accelerate expansion in the US, opening its second headquarters in Boston, Massachusetts. Co-founders Sam Ryan and Barney Williams have relocated to invest in scaling the team to meet increased demand, while fellow co-founder and CTO Dani Ruiz continues to build the engineering team in Europe to accelerate new product development. Zeelo has already secured contracts with Fidelity as well as two leading multi-site corporate enterprise clients, including the world’s leading e-commerce marketplace and a global shipping and logistics business. This sets the stage for rapid revenue growth at low capital expenditure in the world’s leading developed market. With a proven Transport-as-a-Service (TaaS) platform, Zeelo is well-positioned to capture significant market share and drive sustainable growth within the B2B bus commuting sector in developed markets. The combined US and UK mass transportation market is worth $40 billion.

“Developed markets are underserved for daily mass transportation needs and we have seen increased demand for our transit-tech solution in the United States over the past 12 months,” says Sam Ryan, Co-Founder and CEO at Zeelo. “Due to this demand, we’ve had a growing number of requests from shuttle operators to leverage our technology to improve their client relationships and streamline operations. This new capital will accelerate Zeelo’s expansion across the US for an accelerated rollout of large scale, multi-site transportation contracts, with some of North America’s biggest household brands, as well as further investment in our software offering.”

Zeelo addresses the evolving needs of B2B organizations – such as shift worker employers, office worker employers, schools and universities – providing customized transportation services for daily commutes to suburban and peri-urban areas that lack sufficient mass transit coverage. In addition, Zeelo’s platform offers relevant insights to its clients to plan their headcount, production capabilities, and staff punctuality to save clients on average of 12 hours per week in administrative tasks, increase bus ridership by 50% and enable 43% in cost savings per year, on average, for employee shuttle transportation.

“Our newly set up fund seeks to support technology companies with proven business models and a lasting environmental impact,” says Christopher Hoffmann, Partner at FlatzHoffmann. “We help them navigate the transition from Series A to growth and beyond. Zeelo is a unique and proven mobility player headquartered in Europe with a strong expansion push to the US. It combines a strong transit-tech platform with a clear sustainability mission. We are convinced of Zeelo’s experienced leadership team and their ability to innovate and execute. They have come very far in building their business, and we look forward to supporting their growth strategy for developed markets.”

FlatzHoffmann, which was established this year by Alois Flatz and Christopher Hoffmann, operates in Munich and Zurich with a pan-European reach. The fund targets companies at the later-stage growth phase from Series A onwards, with established customer use-cases, recurring revenues and sound unit economics. Both partners bring substantial investment and operational experience to the table. Alois Flatz was an early partner at Sustainable Asset Management (SAM), a partner at cleantech investor Zouk Capital and a Senior Advisor at Al Gore’s Generation Investment Management fund. Christopher Hoffmann is an operator-investor who was a growth equity investor at Zouk Capital and has a 10-year operational track record as CFO of growth companies, including a successful cleantech IPO in 2016 with va-Q-tec.

Zeelo also passes on CO2 emissions savings to its clients and has committed to transitioning all services to net-zero emissions battery-electric buses by 2030, with nearly 10% of Zeelo’s UK clients having already made the switch to electric buses for their commuter services. Meanwhile in 2022, Zeelo offset over 2,600 tons of CO2 emissions and created over 26,000 employment opportunities, with 70% of Zeelo riders admitting that they rely on the service to commute to work, and without which they would not have been able to accept their job.

Zeelo has an experienced, execution-focused and entrepreneurial management team. The co-founders previously built, led and successfully exited their first transit-tech business to Addison Lee.

For press inquiries, please contact Zeelo:

Sonia Afzal, Head of Communications
[email protected] | +44 (0)7950 467 773

Kathleen Osborne, Kamel PR
[email protected] | +001 607 434 2065

About Zeelo

Zeelo is a leading global transit-tech company powering bus operators, employers and schools to provide highly efficient, sustainable and affordable transportation programs. Zeelo provides software and managed services to its clients and partners to increase bus occupancy levels and reduce transportation costs, CO2 emissions and administrative time. Its secure and innovative transportation management software system comprises a SaaS platform, proprietary routing algorithm, mobile apps for riders and drivers, and 24/7 customer support (4.9 TrustPilot rating) ensuring poorly connected commuters have a regular, subsidized and sustainable bus service, wherever they are based. Headquartered in London with an R&D team in Spain and live operations in the UK, US and South Africa, Zeelo was founded in 2016 by Sam Ryan, Barney Williams and Dani Ruiz. The co-founders previously sold their pioneering ride-sharing app JumpIn to Addison Lee in 2014. Zeelo, your next stop. For more information, please visit www.zeelo.co

About FlatzHoffmann

FlatzHoffmann is a European growth equity investor that invests in environmental tech companies, supporting their transition from venture to growth. The fund backs experienced management teams that harness technology to drive progress and impact within our planetary boundaries. FlatzHoffmann invests across industrial technology, transportation & logistics, energy, sustainable materials and food & agriculture. The fund takes an active approach to partnering with portfolio companies, supporting commercial and organisational growth and leveraging its entrepreneurial ecosystem of fund investors. For more information, please visit www.flatzhoffmann.com

Photo: https://mma.prnewswire.com/media/2185824/Barney_Williams_Sam_Ryan.jpg
Logo: https://mma.prnewswire.com/media/2185828/Zeelo_Logo.jpg

SOURCE Zeelo

NEW YORK, Aug. 14, 2023 — Newmark Group, Inc. (Nasdaq: NMRK) (“Newmark” or “the Company”), a leading commercial real estate adviser and service provider to large institutional investors, global corporations, and other owners and occupiers announces the firm has recently raised $500 million from an institutional investor on behalf of Envision Cold (Envision) to capitalize a new cold storage operating and development company. The investment allows Envision to acquire and develop over $1.5 billion of cold storage assets. Newmark advised on the capital raise and formation of the company. The team was led by Newmark’s Co-Presidents of Debt & Structured Finance, Jordan Roeschlaub and Dustin Stolly.

With the funding sourced by Newmark, Envision has closed on acquiring cold storage operations and assets in Oakland, CA, San Francisco, CA, Laredo, TX and Vancouver, BC. Envision plans to continue acquiring and developing a network of facilities across North America, focusing on markets that are underserved by cold storage from both a physical infrastructure and customer service perspective. Providing its users with various services, including traditional cold storage, import/export services, transportation and blast freezing, Envision has engaged a preeminent real estate development team to oversee all ground-up development projects, which will be essential to the company’s growth.

“We are excited to announce the launch of Envision and our plans to build one of the preeminent cold storage companies in North America,” said Austin Solem, Chief Executive Officer of Envision. “The magnitude of this investment was driven by the strength of not only our team’s commitment to innovation and service but also to the opportunity within the market itself. The cold storage industry is stronger than ever, and it needs more national providers to satisfy the increasing demand.”

Led by an Executive Leadership team with a deep history in the cold storage industry, having previously worked together at the world’s second-largest cold storage owner/operator, Americold, Envision continues to build out a best-in-class organization to oversee the expansion and operation of the platform.

“We are proud to have represented Envision in the capitalization by a well-respected institutional investor. Led by an expert team, we expect Envision to have a great runway to create scale in the cold storage sector,” commented Roeschlaub.

Newmark’s effort on behalf of Envision is part of the Company’s continued push into complex joint venture financing, focusing on raising capital for platform and programmatic joint ventures across all real estate sectors.

About Envision Cold
Founded by a leadership team with over 50 years of collective experience with the biggest players in the cold storage industry, Envision Cold is a forward-thinking cold storage developer and operator. Envision combines scale and expertise with an entrepreneurial mindset and dedication to building bespoke solutions—and delivering them quickly. Through partnerships with a best-in-class developer and an elite investor, the firm designs, builds and operates custom temperature-controlled facilities and logistics systems based on customers’ specific visions and goals. Envision’s value-added services cover the broader cold chain, from initial processing to final mile delivery, and everything in between, providing innovative solutions to customers to bring safeguarded food to the world. Learn more https://www.envisioncold.com/.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of June 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with over 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

SOURCE Newmark Group, Inc.

SAN JOSE, Calif., Aug. 14, 2023 — Silicon Valley-based automotive radar startup, Altos Radar, has raised $3.5 million in seed round funding that will fast-track the commercialization of 4D imaging radars in driver-assisted and autonomous vehicles.

The funding, led by Hesai Technology CEO David (Yifan) Li, ZhenFund and Monad Ventures, will be used to mass-produce and market Altos Radar’s new high-performance 4D imaging RADAR Altos V1, which demonstrates revolutionary perception capabilities at a fraction of the cost of its competitors.

Starting in 2017, the FCC and other global RF regulators opened up the 76-81GHz frequency band for automotive radar use. This enabled the possibility of producing high-resolution radars at one-third the size of the previously used 24GHz radars with similar angular resolution.

Dozens of companies have been racing to develop this technology, including a well-known electric car company, which earlier this year brought back their radars for their FSD (Full Self-Driving) Hardware 4.0 upgrade.

Altos Radar stands out from the crowd, due to their real-time, on-board computed, LIDAR-like point clouds from a ready to ship product. The radar offers long-range detection and a point cloud with up to 3,000 points per frame at 10 fps. 

Furthermore, Altos Radar’s team has achieved state-of-the-art performance on low-cost, mass-produced automotive System on Chips (SOCs). This makes Altos V1 radar the world’s first production-ready non-FPGA-based, 4-chip cascaded (12TX, 16RX) 4D imaging radar, offering great advantages in cost, reliability and mass-producibility.

Due to the nature of radio waves, radars outperform other types of sensors in their unique capability for far-range detection spanning hundreds of meters, instant and accurate velocity measurement, and robustness in adverse weather conditions. As a pioneer in the field of high-performance 4D radars, Altos V1’s detection capacity can now achieve an unprecedented range of 500m for cars and 180m for pedestrians.

What has impeded traditional radars from playing a bigger role in the autonomous vehicle sensor suite is the lack of height information, low angular resolution and suboptimal signal-noise performance, all of which the new generation of 4D imaging radars by Altos Radar are set to change.

The team at Altos Radar are proven experts in electronics design, signal processing algorithms, compute optimization and radar perception in autonomous vehicles, having held leading R&D positions at Hitachi, ZF, Huawei and Pony.ai, as well as in the autonomous driving departments of Apple and Lyft.

Altos Radar’s new high-performance 4D millimeter-wave RADAR caters to the demands of a 4D imaging radar market that Yole’s 2022 Automotive Radar Report estimated will double YoY by 2027 to $8 billion. Moreover, projections from McKinsey’s Autonomous Driving’s Future Report show potential revenues from the autonomous driving market could hit $400 billion by 2035.

About Altos Radar

With strong experience in the autonomous driving industry, Altos Radar is a rising radar startup committed to developing high performance 4D imaging radars at an economical price point. Altos Radar’s core team members are top talents from the tech industry, including seasoned professionals in hardware from Apple and Huawei, as well as software experts from Mozilla and Pony.ai.

To learn more about Altos Radar, please visit https://www.altosradar.com

SOURCE Altos Radar