BOULDER, Colo., Aug. 3, 2023 — Divirod, the cutting-edge real-time flood management and water risk analytics company, proudly announces the successful closure of a $3.6 million bridge round. This significant investment is spearheaded by industry leaders GHD, Thin Line Capital, and TDK Ventures. The funding will serve to bolster the company’s team, consolidate product definition, strengthen sales and marketing efforts, and AI-driven analytics for water risk prediction.

Javier Marti, Founder and CEO of Divirod, expressed his excitement about the company’s groundbreaking technology. “Divirod’s global water data platform is growing daily to provide a unique source of water risk data insights. With our patented technology and analytics proactively alerts private and public institutions of real-time water-related risks produced by flooding and water scarcity. We are directly addressing multiple areas insurers and companies need to properly handle water-related risk and emergencies: trustworthy and up-to-date data. Our predictive flood analytics, based on real-time measurements and powered by artificial intelligence, are a game-changer for companies, insurers, and governments to leverage.”

Divirod’s vision is to establish the most comprehensive local, national, and global water-data networks by bringing together proprietary and third-party curated data for real-time analysis. The company’s Flood Early Warning and Monitoring Solution is a groundbreaking system that continuously monitors locations on-site 24/7 using a network of proprietary sensors. Users receive instant alerts via email and text messages of impending floods, giving companies a crucial advantage in on-premise tracking – an offering that sets Divirod apart from other water-risk assessment companies. The benefits of Divirod’s solution span various verticals, including real estate, insurance, and state and local governments, empowering them to meet their goals and prevent harm.

GHD’s Executive General Manager – Strategic Investments, Phil Bradley, said, “The vast economic and social impact of water-related disasters, such as floods, storms and droughts, mean new technologies are essential to reduce the impact on millions of people and their communities globally. Divirod’s approach is very different and enables the acquisition and analysis of accurate data which facilitates better decisions earlier, to increase the resiliency of business and communities. This is why we are proud to be making this investment as part of our shared commitment to a sustainable future.”

Aaron Fyke, Founder and Managing Partner of Thin Line Capital, is one of Divirod’s earliest investors. “With increased climate risk, asset holders are now recognizing the value of more data to guide mitigation strategies. However, what is needed isn’t just more data, rather, it is data that is targeted to where it is needed most, and it is the right kind of data. I was really impressed with Divirod’s technology and team and their vision to make these types of data analytics a reality.”

Tina Tosukhowong, TDK Ventures’ Investment Director and Divirod’ Board Observer, commented on the potential impact of Divirod’s technology. “Flood and other water-related risks affect millions of companies every year, creating economic and climate havoc. Divirod’s combined physical sensor and data-driven approach to water risk management have the potential to save billions of dollars to ensure safety and predictability globally. TDK Ventures is excited to continue to invest and support this talented team as they provide an unparalleled solution so companies, insurers, and governments can be an integral part of any entity’s risk mitigation plan.”

The successful completion of the bridge funding marks a significant milestone for the predictive flood risk management industry, positioning Divirod at the forefront of revolutionizing how businesses and governments approach water risk mitigation and measurement.

About Divirod:

Divirod’s mission is to build the most comprehensive local, national, and global environmental water-data network ever established. The company utilizes cutting-edge technology to rapidly deploy and measure all forms of water with millimeter precision, addressing critical geographic data gaps and augmenting existing, but outdated, sparse, and disparate environmental water-monitoring systems. In the short term, the Divirod network fills data gaps, enabling localized and real-time “speed to knowledge/action” for more-informed emergency responses to protect against impending water risks that threaten properties, economies, and human lives. Over time, the increase in captured data, through the Divirod global network coverage, enhances smarter water-risk decisions and guides critical resiliency initiatives to greatly minimize future water risks.

For more information on Divirod and to become part of the network, please visit https://divirod.com/ or contact [email protected]. Connect with Divirod on LinkedIn, Twitter, Facebook, and Instagram.

CONTACT: [email protected]

SOURCE Divirod

Bain Capital Life Sciences and GordonMD® Global Investments LP join existing investors

Proceeds to support clinical development of novel fully human anti-CD19 CAR T-cell therapies for autoimmune diseases

EMERYVILLE, Calif., Aug. 3, 2023 — Kyverna Therapeutics (“Kyverna”), a clinical-stage cell therapy company with the mission of engineering a new class of therapies for autoimmune diseases, today announced the close of an oversubscribed $60 million Series B financing round extension, bringing the total Series B financing round to $145 million. New investors, Bain Capital Life Sciences and GordonMD® Global Investments LP, join existing investors Gilead Sciences, Westlake Village BioPartners, Vida Ventures, Northpond Ventures, RTW Investments, Insight Partners, CAM Capital, LYFE Capital, jVen Capital, and others.

“We are pleased by the increasing investor confidence in the promise of Kyverna’s anti-CD19 CAR T-cell therapy for autoimmune diseases,” said Ryan Jones, chief financial officer of Kyverna. “This Series B extension will fund Kyverna’s clinical studies in the U.S. and Europe, enabling us to move more quickly toward bringing potentially transformative and life-saving therapies to patients. We continue to treat autoimmune patients in multiple indications and multiple geographies, and we look forward to sharing clinical data in the second half of 2023.”

“I have supported anti-CD19 CAR T-cell therapy for cancer since the early clinical trials. It is exciting to see Kyverna break into new frontiers by advancing cell therapies for autoimmune diseases. I am looking forward to future developments from Kyverna,” said Craig Gordon, M.D., founder, chief executive officer, and chief investment officer of Gordon MD® Global Investments LP. 

Chimeric antigen receptor (CAR) T-cell therapy involves modifying a patient’s immune T cells to recognize and remove B cells in the patient’s body. Kyverna’s anti-CD19 CAR T-cell therapies, KYV-101 and KYV-201, specifically target CD19, a protein expressed on the surface of B cells which is involved in various types of autoimmune diseases including lupus nephritis. These novel therapies have the potential to offer new hope to patients who have exhausted current treatment options. Kyverna continues to explore additional indications for its anti-CD19 CAR T-cell therapies, as well as develop a robust pipeline of promising immunotherapies aimed at addressing unmet medical needs.

About KYV-101
KYV-101 is an autologous version of a novel, fully human clinical-stage anti-CD19 chimeric antigen receptor (CAR) T-cell construct with properties well suited for use in B cell-driven autoimmune diseases such as lupus nephritis and other B cell-driven autoimmune diseases. In a 20-patient Phase 1/2 study in oncology, expected anti-lymphoma activity was associated with a significant reduction of cytokines released that translated into a strong reduction of cytokine-driven side effects, such as the rate of immune effector cells-associated neurotoxicity syndrome (ICANS)¹. The fully human anti-CD19 CAR also translated into reduced immunogenicity that favorably impacted cell persistence at one month. Kyverna recognized that these properties singled out KYV-101 as a product ideally poised for use in autoimmune disease patients, and the company obtained exclusive, worldwide licenses from the National Institutes of Health (NIH) to use this anti-CD19 construct in both autologous and allogeneic CAR T-cell therapies. KYV-101 has initiated a Phase 1 clinical trial in lupus nephritis in the U.S. and a Phase 1/2 trial in Germany.

About KYV-201
KYV-201 is an allogeneic version of Kyverna’s novel, fully human clinical-stage anti-CD19 chimeric antigen receptor (CAR) T-cell construct with properties well suited for use in B cell-driven autoimmune diseases such as lupus nephritis and other B cell-driven autoimmune diseases. KYV-201 leverages the power of genome editing through a proprietary ex vivo CRISPR/Cas9-based allogeneic platform for use in B cell-mediated autoimmune diseases.

About Kyverna Therapeutics
Kyverna Therapeutics is a clinical-stage cell therapy company with the mission of engineering a new class of therapies for autoimmune diseases. The Kyverna therapeutic platform combines advanced T cell engineering and synthetic biology technologies to suppress and eliminate the autoreactive immune cells at the origin of autoimmune and inflammatory diseases. Kyverna’s pipeline includes next-generation chimeric antigen receptor (CAR) T-cell therapies in both autologous and allogeneic formats with properties well suited for use in B cell-driven autoimmune diseases. By offering more than one mechanism for taming autoimmunity, Kyverna is positioned to act on its mission of transforming how autoimmune diseases are treated. For more information, please visit https://kyvernatx.com.

¹Brudno et al., Nature Medicine 2020; 26:270-280.

SOURCE Kyverna Therapeutics

Targeting more than $100M USD, The Fund Will Focus on Investments in Companies That Provide Positive Impact on People and the Planet

SANTA CLARA, Calif., Aug. 2, 2023 — Global innovator LG Electronics and Clearbrook LLC, a global investment advisory and asset management firm with nearly two decades of experience in impact and sustainable investing, announced a strategic alliance to support companies developing solutions to bring positive change to people and the planet. The two companies are collaborating in NOVA Prime Fund, a venture capital fund with a target of more than $100 million (USD). The Fund’s objective will be to invest in companies advancing innovations to build a better future, drawing from the pool of companies participating in the Mission for the Future Program sponsored by LG Electronics’ North America Center for Innovation, LG NOVA.

“As a part of our business transformation to a Smart Life Solution company, LG is innovating to expand its services and solutions in new areas of business growth,” said LG Electronics Global CEO William Cho. “The strategic investments we’ve made with LG NOVA and its Mission for the Future Program has led us to take the next step in working with Clearbrook and others to support the accelerated growth of new technological solutions in digital health, sustainability and future solutions platforms that benefit society. Clearbrook’s investment track record with a clear focus on impact and sustainable investing aligns perfectly with LG NOVA’s mission.” 

ClearImpact Ventures, Clearbrook’s venture capital arm, invests at the intersection of sustainability, profit, and purpose will act as General Partner of the NOVA Prime Fund while LG Electronics will be a Limited Partner. The NOVA Prime Fund will focus on investing in mission-driven companies concentrated on sustainable energy, digital health, immersive AI, and industries of the future. Based in Silicon Valley and investing across both national and international markets, the NOVA Prime Fund will seek to advance both companies’ long-standing commitment to societal impact, as the fund seeks to empower innovative startup companies to build the tools required for a more sustainable future.

LG NOVA will serve as a contributing source of innovative companies for the fund to invest in and provide a commercial acceleration path for those companies selected through its programs. Selected portfolio companies are also expected to benefit from Clearbrook’s global commercial acceleration resources. LG NOVA’s Mission for the Future is a global program to identify leading companies with innovative concepts and transformative solutions that create a positive impact on people and the planet. Selected companies may have an opportunity to explore new venture creation, and may benefit from an accelerated path to growth with support from LG.

“We anticipate that LG NOVA’s acceleration capabilities will help startups, as well as our portfolio companies succeed in their business initiatives – providing a valuable scenario for the fund to achieve its mission of growing companies that provide a positive impact on society,” said Clearbrook’s Chairman and CEO Elliott Wislar. “Our strategic alliance is the result of a shared vision that impact investing is an essential part of a business ecosystem that contributes to an improved society for all. Through our combined forces, we will seek to accelerate and amplify innovation for a better tomorrow. Our focus will encompass environmentally friendly solutions with a reduced environmental impact, and we will actively seek to support cutting-edge innovations in healthcare, sustainable energy, and other solutions that foster a smarter, healthier lifestyle.”

“By investing in this fund, we are intentionally bridging sustainability and innovation to drive exponential growth in viable solutions for the challenges we face today,” said Sokwoo Rhee, Head of LG NOVA and SVP of Innovation for LG Electronics. “We, in collaboration with Clearbrook, are moving forward in our vision for a brighter future created with innovative solutions to help people live a better life.”

For more information on NOVA Prime fund visit http://www.clearimpact.vc
For more information on LG NOVA and the Mission for the Future Program visit: www.lgnova.com.

About Clearbrook  
Established in 2004, Clearbrook is an innovative investment management and consultancy firm with over $10B in assets under advisement and management. Clearbrook provides innovative investment solutions for institutions, family offices and high-net-worth individuals to maximize risk-adjusted returns over various market cycles. Independent and privately held, Clearbrook serves as expert advisors with capabilities spanning non-discretionary advisory services, Integrated CIO services, customized alternative investment research, private products, and specialized portfolio solutions. Clearbrook has provided SRI, ESG and, most recently, DEI based research and investments to its clients.

About LG Electronics Inc.
LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 74,000. LG’s four companies – Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions and Business Solutions – combined for global revenue of over KRW 80 trillion in 2022. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, service robots, automotive components and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.

About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $68 billion global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, solar energy solutions and vehicle components. LG is a 10-time ENERGY STAR® Partner of the Year. The company’s commitment to environmental sustainability and its “Life’s Good” marketing theme encompass how LG is dedicated to people’s happiness by exceeding expectations today and tomorrow. www.LG.com.

About LG NOVA
LG NOVA, the North American Innovation Center for global innovation leader LG Electronics, is a team focused on bringing innovation from the outside to LG. LG NOVA is based in Santa Clara, Calif. The center’s mission is to build, nurture and grow innovations that impact the future. Learn more about LG NOVA at www.lgnova.com. 

About NOVA Prime Fund
NOVA Prime Fund is a venture capital fund with a target of more than $100M and an objective of investing in private companies focused on clean energy, digital health, immersive AI, and industries of the future. The Fund will be managed by ClearImpact Ventures and will invest in high growth technology companies and seek to accelerate them in collaboration with LG NOVA. Aligned on innovating for a better life, NOVA Prime Fund’s portfolio companies will be predominantly sourced from the Mission for the Future corporate acceleration program, led by LG NOVA, LG Electronics’ North America Center of Innovation. NOVA Prime Fund will focus on investing in mission-driven companies working towards solutions for a sustainable future for people and the planet.

Important Note Regarding LG and Clearbrook Relationship  
LG Electronics will be an investor in the NOVA Prime Fund, which will be managed by ClearImpact Ventures. ClearImpact Ventures will rely on the registration of CBF Advisors, LLC, one of Clearbrook’s investment adviser entities that is registered with the Securities and Exchange Commission. While neither Clearbrook nor ClearImpact Ventures provided compensation to any person for the statements included in this press release, given the strategic alliance described herein and LG NOVA’s interest in the Mission for the Future Program, LG Electronics has an incentive to positively highlight Clearbrook, ClearImpact Ventures and the NOVA Prime Fund, and there is a mutual benefit to LG Electronics and Clearbrook if the fund is successful in both reaching its target size and achieving its investment objective.

For more information, please contact:

Clearbrook, LLC
Katie Fox
+1 248 930 0551
[email protected]

LG Electronics USA
Linda Quach
+1 408 903 3045
[email protected]

Rick Cohen
+1 212 885 0543
[email protected].com

SOURCE LG Electronics USA

SANTA CLARA, Calif., Aug. 3, 2023 — Tenstorrent is pleased to announce that it closed a $100M strategic financing up-round led by Hyundai Motor Group and Samsung Catalyst Fund, with participation from Fidelity Ventures, Eclipse Ventures, Epiq Capital, Maverick Capital, and more.

Tenstorrent sells AI processors and licenses AI and RISC-V IP to customers that want to own and customize their silicon. Both Hyundai Motor Group and Samsung have a strong history of product leadership and enjoy massive success in their respective markets. 

“The trust in Tenstorrent shown by Hyundai Motor Group and Samsung Catalyst Fund leading our round is truly humbling,” said Jim Keller, CEO of Tenstorrent. “It has been impressive watching Hyundai Motor Group become the third largest automaker in the world through their aggressive adoption of technology including their acquisition of Boston Dynamics, their joint venture with Aptiv, and now their investment in us.”

“Tenstorrent’s high growth potential and high-performance AI semiconductors will help the Group secure competitive technologies for future mobilities,” said Heung-soo Kim, Executive Vice President and Head of the Global Strategy Office (GSO) at Hyundai Motor Group. “With this investment, the Group expects to develop optimized but differentiated semiconductor technology that will aid future mobilities and strengthen internal capabilities in AI technology development.”

“Samsung has long been a leader in the electronics industry and they are the ideal partner to co-lead this round,” continued Keller. “We are excited by the opportunity to work together.”

“Samsung Catalyst Fund invests in disruptive ideas that we believe can change the world,” said Marco Chisari, EVP of Samsung Electronics, Head of Samsung Semiconductor Innovation Center. “Tenstorrent’s industry-leading technology, executive leadership, and aggressive roadmap motivated us to co-lead this funding round. We are excited by the opportunity to work with Tenstorrent to accelerate AI and compute innovations.”

Funding will be used to accelerate the company’s product development, the design and development of AI chiplets, and its ML software roadmap.  

About Hyundai Motor Group:

Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication and the will to take on any challenges, we strive to create a better future for all.

About Samsung Catalyst Fund:

Samsung Catalyst Fund (SCF) is Samsung Electronics’ evergreen multi-stage venture capital fund that invests in deep-tech infrastructure and data-enabled platforms. SCF’s sectors of interest span multiple domains including datacenter and cloud, artificial intelligence, networking and 5G, automotive, sensors, quantum computing and beyond. SCF aspires to work closely with brilliant entrepreneurs and disruptive ideas, harnessing our global reach to create value and foster mutual growth and benefits. Among the many advantages our founders enjoy are shared resources, financing, networking, corporate development, and mentorship from SCF’s domain experts. 

About Tenstorrent:

Tenstorrent is a next-generation computing company that builds computers for AI. Headquartered in Toronto, Canada, with U.S. offices in Austin, Texas, and Silicon Valley, and global offices in Belgrade, Tokyo, and Bangalore, Tenstorrent brings together experts in the field of computer architecture, ASIC design, advanced systems, and neural network compilers. Tenstorrent is backed by Hyundai Motor Group, Samsung Catalyst Fund, Fidelity Ventures, Eclipse Ventures and Real Ventures, among others.

For more information on Tenstorrent visit www.tenstorrent.com or contact [email protected].

Photo – https://mma.prnewswire.com/media/2166165/Tenstorrent_Samsung_Contract.jpg
Photo – https://mma.prnewswire.com/media/2166166/Tenstorrent_HMG_Contract.jpg
Logo – https://mma.prnewswire.com/media/1142126/Tenstorrent_Logo.jpg

SOURCE Tenstorrent

NEW YORK, Aug. 2, 2023 — Madison International Realty, a leading real estate private equity firm, today announced it has agreed to commit up to $150 million in strategic growth capital to REI Nation, a vertically integrated single family rental (SFR) operator with over 7,600 homes under management.

Madison’s strategic growth investment will provide additional resources to REI Nation as the Memphis-based firm looks to expand its existing capabilities while seeking to take advantage of dislocations in the current SFR market.

A privately held company, REI Nation has a 20-year track record of operating in the SFR space. Under the leadership of Kent Clothier, Sr., Chris Clothier and Brett Clothier, REI Nation has acquired, renovated, and sold over $1.7 billion of SFR homes across 13 Southeastern and Texas markets to over 3,000 retail investors/clients. REI Nation provides on-going property management services for each of those clients.

Madison International Realty is an industry-leading liquidity solutions provider to existing real estate investors globally, in prime properties and portfolios in select sectors and major markets in the U.S., U.K. and Western Europe. Madison also provides equity solutions to real estate platforms seeking to retain assets, grow portfolios and/or raise capital more efficiently.

“Madison International Realty believes REI Nation is a premier company in the SFR space and we are convinced this equity stake will allow both firms to further pursue the exciting opportunities that currently exist in the SFR market,” said Ronald M. Dickerman, Madison International Realty Founder and President. “We have the utmost respect for the Clothier family and how they have built REI Nation into one of the largest and most impressive SFR real estate investment firms in the U.S. We look forward to working with them for the benefit of our investors.”

“REI Nation is excited to partner with Madison International Realty and the MIR team after patiently waiting to find the right partner for this type of investment,” said Kent Clothier, Sr., Founder and CEO of REI Nation. “I want to thank Ron Dickerman, Kenny Moon and the MIR team for recognizing the uniqueness of our company, leaders, team and process. We are the leading Turnkey and single family rental company in the country when it comes to providing SFR services to the individual investor who built the SFR space over the past decades. We look forward to working with MIR to fuel the next stages of our growth and development as the dominant provider in this space.”

About Madison International Realty

Madison International Realty (www.madisonint.com) is a leading liquidity provider to real estate investors worldwide. Madison provides equity capital for real estate growth platform investments and for real estate owners and investors seeking to monetize embedded equity, to replace capital partners seeking an exit and to recapitalize balance sheets. The firm provides equity for recapitalizations, partner buyouts and capital infusions; and acquires joint venture, limited partner and co-investment interests as principals. Madison invests in secondary transactions and focuses on existing properties and portfolios in the U.S., U.K., and Europe. Madison has offices in New York, Los Angeles, London, Luxembourg, Amsterdam and Frankfurt, where the firm operates under the name of Madison International Realty GmbH.

About REI Nation

REI Nation is one of the largest turnkey real estate investment companies in the U.S. with more than 7,600 properties under management, 3,000 property owners, and $1.7 billion in residential rental property assets under management. The company provides individual real estate investors with end-to-end, turnkey solutions, including finding potential rental properties, analyzing ROI and

revenue potential, managing required renovations, securing and vetting residents, and providing ongoing property management services. Memphis, TN.-based REI Nation, formerly Memphis Invest, was founded in 2003 and is privately held. More information can be found at reination.com.

SOURCE Madison International Realty

FARMINGTON, Conn., Aug. 2, 2023 — Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, today announced it has provided a $15 million venture loan facility to Tallac Therapeutics, Inc. (“Tallac”), of which $5 million has been initially funded.

Tallac is developing multiple novel immunotherapies to fight cancer. Tallac’s innovative Toll-like Receptor Agonist Antibody Conjugate (TRAAC) platform enables systemic delivery of differentiated TLR9 agonists to activate a specific anti-cancer immune response for various solid tumor malignancies. Tallac is backed by premier investors including venBio, Lightstone Ventures, Morningside and MRL Ventures Fund. The company will use the loan proceeds for general growth and working capital purposes.

“Tallac is advancing new immunotherapies that may make a tremendous difference in the ongoing fight against cancer,” said Gerald A. Michaud, President of Horizon. “Through the development of antibody conjugate-based therapeutics, Tallac’s best-in-class therapies attempt to trigger innate and adaptive immune responses to best address the needs of patients. We are pleased to support Tallac’s continued work and its vital mission.”

“We are pleased to have Horizon’s support as we continue to make excellent progress in our TRAAC platform and programs,” said Hong I. Wan, Ph.D., president, CEO and co-founder of Tallac Therapeutics. “We are excited to further progress our lead program, TAC-001, in the clinic and to advance additional agents to find difficult-to-treat cancers.”

About Horizon Technology Finance

Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio’s return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Horizon is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located in Austin, Texas, Chicago, Illinois, Reston, Virginia and Portland, Maine. To learn more, please visit horizontechfinance.com.  

About Tallac

Tallac Therapeutics is a privately held biopharmaceutical company harnessing the power of innate and adaptive immunity to fight cancer. Tallac’s pipeline of immunotherapy candidates are derived from the company’s novel Toll-like Receptor Agonist Antibody Conjugate (TRAAC) platform to deliver a potent Toll-like receptor (TLR9) agonist (T-CpG) for targeted immune activation via systemic administration. Several TRAAC molecules are in various stages of discovery and development. TAC-001, the company’s lead clinical candidate, is the first to enter the clinic and is currently in an ongoing Phase 1/2 clinical trial in patients with advanced or metastatic solid tumors. For more information, please visit www.tallactherapeutics.com.

Forward-Looking Statements
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contacts:

Investor Relations:
ICR
Garrett Edson
[email protected]
(860) 284-6450

Media Relations:
ICR
Chris Gillick
[email protected]   
(646) 677-1819

SOURCE Horizon Technology Finance Corporation

The Future is Now: Transforming Infrastructure Condition Assessment with Predictive Analytics

VANCOUVER, BC, Aug. 2, 2023 – Revolutionary Canadian tech company Niricson announced the successful completion of $10M+ CAD Series A funding round led by MUUS Climate partners, joined by Bentley Systems, Sustainable Development Technology Canada, Export Development Canada, Invest Victoria, Australia, Forward Venture Capital, Techstars, and other investors.

The new influx of resources enables Niricson to:

Expand its global footprint by using robotics, computer vision and acoustic technology, combined with AI to make predictive maintenance of large-scale civil assets (Dams, Spillways, Nuclear Power Plans, Bridges, Airport Runways, Tunnels, etc.) around the world safer, faster, and more efficient.

Accelerate R&D efforts focused on developing the world’s first AI-driven predictive analytics Software as a Service (SaaS) platform dedicated exclusively to managing critical infrastructure assets, ensuring asset safety and optimal performance.

Niricson- a pioneer in the digitization of critical infrastructure assets- making them ideal for asset owners of key structures such as hydro dams, bridges, runways, ports, and other civil assets. Through Niricson’s technology, clients can improve decision-making processes, optimize maintenance programs, and reduce costs. Targeting high-value infrastructure assets ensures continuous safe operation with maximum efficiency.

With a focus on advanced technology, the company behind AUTOSPEX™ and DRONIC™, utilizes AI, computer vision, and acoustics in combination with machine learning algorithms to provide asset managers and civil engineers critical insights and multi- layered defects visualization including accurate and efficient asset management and condition assessment processes. This helps asset managers minimizing the potential risks associated with a catastrophic failure event and optimize resource allocations for the current condition of their assets.

“We are now serving more than 20 large customers owning dams, bridges, runways, and other critical assets globally. Over the last several years, we have learned a lot and built our products to address the real problem faced everyday by our customers. With our series A raise complete, we now stand ready to drive even greater value for stakeholders while accelerating responsible growth throughout the globe. As a team, we’re thrilled by this vote of confidence in our mission and remain resolute in empowering society to tackle its grand challenges head-on. Looking ahead, we embrace the exciting journey that lies before us.”

– Harsh Rathod, PhD, CEO & Co-Founder, Niricson

About Niricson

Niricson is a Canadian software company with a mission of making infrastructure safer through data driven condition assessments. Niricson works with asset owners or asset managers such as utilities, federal governments, state governments, and engineering consulting companies to help them inspect, manage, and predict the performance of their assets through time. Founded in 2020, Niricson leverages its proprietary DRONIC™ and AUTOSPEX™ technologies to digitize and automate the inspection of critical infrastructure, enabling its customers to improve safety and risk management through data and actionable insights. Please visit us at www.niricson.com to learn more.

SOURCE Niricson

BOSTON, Aug. 2, 2023 — Rapid Applications Group (Rapid Apps), the leading ERP software solution for heavy equipment construction subcontractors, announced its significant growth equity financing led by Boston-based growth equity firm Wavecrest Growth Partners and MassMutual Ventures.  The funds will be used to accelerate product development and customer growth.

Rapid Apps’ suite of software products enables heavy equipment construction subcontractors to optimize the utilization of their fleets with scheduling and job dispatching, telematics GPS tracking, mobile workforce labor tracking and payroll, plus customer ordering, billing, and payments, all in one connected solution.  Many of the largest heavy equipment subcontractors in the concrete, hydrovac, and crane space, including Brundage-Bone, Concrete Pump Partners, and Kinetic Industry, trust Rapid Apps every day to manage their operations and provide insight into performance and productivity.

Matthew Bullis, co-founder of Rapid Apps, said, “As construction projects have become more complex, large, sophisticated machines are playing increasingly critical roles to complete projects quickly and efficiently.  Rapid Apps has helped hundreds of companies increase utilization and lifespan of cost-intensive construction services equipment, securing ROI and increasing profitability by replacing legacy software and manual processes.  With this investment from Wavecrest and MassMutual Ventures, we are looking forward to expanding our growth into existing and new markets.”

Deepak Sindwani, co-founder, and Managing Partner at Wavecrest, said, “The construction technology industry has been a growing and dynamic space for the last 10-15 years.  General contractors led the first wave of technology adoption, resulting in several software companies delivering billions in value for all stakeholders.  We believe that subcontractors will lead the next wave of technology adoption in the construction industry, leading to additional significant software companies.  We are excited to partner with Rapid Apps to help them to become the leading player in the heavy equipment space and to help them further fuel their growth.” 

“Rapid Apps offers heavy equipment subcontractors with the first platform combining SaaS and mobile applications to connect in-office and in-field operations,” noted Eric Emmons, Managing Partner at MassMutual Ventures. “We have been impressed by the company’s vision and its commitment to improving the efficiency and profitability of the subcontractor market.”

Rapid Apps customers quickly see improvements in their operations and cash flow, allowing them to serve customers better by focusing more on getting projects done on-time and on-budget and less on managing the work with paper & pencil or a collection of outdated software.  A recent survey of Rapid Apps customers using the Rapid ERP and Rapid-on-the-Go mobile applications reported significant improvements in performance including an average 95% improvement in accuracy for operator hours, 66% fewer chargebacks, and a 44% increase in the number of same-day, second round jobs.

ABOUT RAPID APPLICATIONS GROUP (Rapid Apps)
Rapid Applications Group (Rapid Apps) is the leader in software solutions for the heavy construction equipment services industry with hundreds of customers across North America, Europe, and Australia.  Rapid ERP, Telematics GPS, and the Rapid On-the-Go mobile apps are the most widely used and trusted software products in the industry, enabling companies to dispatch and manage the complex requirements for construction work involving concrete pumping, hydrovac excavation, crane services dispatch, and other types of heavy construction jobs.  With the growing trend of digitalization of the construction industry, Rapid Apps’ flexible, scalable solutions are poised to lead the future of heavy construction fleet management with innovative mobile and telematics products, and cloud-based optimization and analytics.  For more information, visit rapidappsinc.com

ABOUT WAVECREST GROWTH PARTNERS
Wavecrest Growth Partners is a growth equity firm focused on investing in and partnering with leading B2B software and technology-enabled services companies based in both North America and Western Europe. Wavecrest targets investments in high-growth companies with proven products and business models and brings to bear a differentiated combination of investing and operating experience and networks to help accelerate growth and profitability. Wavecrest’s team has over five decades of collective investing and operating experience in growth-stage B2B technology companies, including numerous successful outcomes. For more information, visit www.wavecrestgrowth.com

ABOUT MASSMUTUAL VENTURES
MassMutual Ventures (MMV) is a multistage global venture capital firm with teams based in Boston, Singapore, and London, managing over $1 billion in investment capital. MMV helps accelerate the growth of the companies it partners with by providing capital, connections, and advice. With its deep expertise and extensive Fortune 500 network, MMV helps entrepreneurs build compelling and scalable companies of value. For more information, visit www.massmutualventures.com.

SOURCE Rapid Applications Group

The open source and lightweight Dart Frog framework helps Flutter and Dart developers maximize their productivity by having a unified tech stack that enables sharing tooling, models and more

NEW YORK, Aug. 2, 2023 — Very Good Ventures (VGV), the leading full-service Flutter consulting firm, today announced the release of Dart Frog 1.0, which introduces a fully stable open source backend framework for Dart. The company released the experimental version of Dart Frog about a year ago and has since added a number of features and used it in key projects, such as the generative AI card game I/O FLIP introduced at Google I/O.

“Dart Frog is an example of our commitment to delivering important, innovative tools to developers across the Flutter ecosystem. We aren’t just a consulting partner, we’re an active community member and contributor dedicated to building technologies that will increase developer efficiency and opportunity,” said David DeRemer, CEO at Very Good Ventures.

Dart is an open source, client-optimized language for fast applications on any platform. Its rankings as one of the most popular developer technologies in recent Stack Overflow and Red Monk reports demonstrates its growing favor. Dart forms the foundation of Flutter, providing the language and runtimes that power Flutter apps. Flutter is an open source UI toolkit from Google that enables developers to build apps for multiple platforms all at once from a single codebase – a significant advantage over legacy approaches to native software development. Since its first release in 2017, Flutter has grown into the most popular cross-platform mobile framework used by software developers globally.

Very Good Ventures’ Dart Frog is for Flutter developers who want to maximize their use of Dart. Dart Frog 1.0 has new features including Dart Frog daemon, allowing for better integration with third-party systems and plugins; a VS Code extension; file uploads; wildcard routes; authentication support; and includes Dart 3.

These features help bridge the gap for Dart and Flutter developers to enable maximum efficiency. Flutter developers can expand their skills beyond frontend to include the full stack. Dart Frog reduces the Dart learning curve for Flutter developers by building routes that feel very similar to creating a widget tree in Flutter, for example. Developers can share code between the front and backend, enabling them to write functionality once and use it on both ends of an application. Dart Frog can also be used as a backend for frontend so that the backend data is normalized and becomes easy for developers to use. This approach also gives more control to developers to do things like optimize and cache backend data. Lastly, Dart Frog can be configured with any cloud service, so developers can use whatever works best for them.

Developers can get started with Dart Frog today:  https://dartfrog.vgv.dev/ and GitHub: https://github.com/VeryGoodOpenSource/dart_frog

Very Good Ventures recently announced an expanded Series A round with $3.2 million led by  Celesta Capital for a total raise of $6.4 million and its acquisition of CreateThrive, a mobile and web development firm that has emerged as a leader in the Flutter community in Latin America. The acquisition has resulted in the world’s largest Flutter consultancy team with a focus on driving high quality software solutions, designing beautiful and useful products and deepening its impact on the Flutter community and its customers. Customers include Dow Jones, Google, The New York Times, Marketwatch and Hamilton, the musical, among others.

About Very Good Ventures

Very Good Ventures is the leading Flutter design and development consultancy working to empower software excellence for any platform. VGV works with the biggest companies to design, build, and scale successful apps using Flutter, the UI toolkit from Google that enables developers to build apps for any screen from a single codebase. VGV’s global team includes a presence in the United States, LATAM, and Europe. For more information, visit: http://verygood.ventures

Media Contact
Ray George
[email protected]
650-922-3825

SOURCE Very Good Ventures