Round led by funds and accounts managed by BlackRock will expand HawkEye 360’s leadership delivering radio frequency geospatial intelligence to government customers

HERNDON, Va., July 13, 2023 — HawkEye 360 Inc., the world’s leading defense technology company for space-based radio frequency (RF) data and analytics, announced today it has closed $58 million in new funding. The funding will be used to develop new space systems and expand analytics that support high-value defense missions. This Series D-1 round was led by funds and accounts managed by BlackRock (NYSE: BLK) with additional funding provided by Manhattan Venture Partners and existing investors including Insight Partners, NightDragon, Strategic Development Fund (SDF), Razor’s Edge, Alumni Ventures, and Adage Capital.

“HawkEye 360 continues to make the world a safer place through advanced RF analytics – including addressing maritime, environmental, and national security needs,” said HawkEye 360 CEO John Serafini. “We’ve learned much over the past four years delivering data to the most demanding customers in the world. We’ll use this funding to drive our next steps in innovation. It speaks volumes that these leading investment firms are confident in the future of RF geospatial intelligence as a critical defense technology.”

“We invest in first-class startups that have proven innovative technology, where we can come alongside to accelerate their growth,” said Matt Singer, Managing Director, BlackRock. “Governments and commercial customers are asking for better intelligence and, with its full chain of control from orbit to analytics, Hawkeye 360 is leading the way for this new category of RF space-based data.”

HawkEye 360 has 21 satellites in orbit and plans to move to a new Block 3 satellite architecture starting with Cluster 14 and beyond. The company is also investing further in artificial intelligence, data fusion, and multi-intelligence orchestration to better extract value from the large amount of RF data being collected. The goal is to simplify analysis for its customers.

“HawkEye 360 has disrupted what used to be a static defense intelligence domain,” said Jared Carmel, Managing Partner and General Partner of Manhattan Venture Partners. “The company is the quintessential example of how a commercial operation could service the intelligence needs of the U.S. and our allies. They have built a growing market with government customers and are proof that private-sector innovation and leadership will help enable peace through strength, deter future conflict, and ensure global stability.”

WilmerHale acted as legal counsel for HawkEye 360 in connection with the transaction.

Goodwin Proctor LLP acted as legal counsel for BlackRock in connection with the transaction.

For more information about HawkEye 360, please visit www.he360.com.

About HawkEye 360

HawkEye 360 is a defense technology leader providing global knowledge of human activity and trends derived from revolutionary radio frequency (RF) geospatial intelligence. The company’s innovative space-based technology was developed to detect, characterize, and geolocate a broad range of RF signals. These RF data and analytics provide an information advantage allowing analysts to detect the first glimpse of suspicious behavior, trace the first sign of adversarial activity, and reveal the first sighting of ships attempting to vanish. HawkEye 360’s RF intelligence presents a quicker grasp of critical events and patterns of life, providing early warnings to drive tip-and-cue efforts, and providing leaders the insights needed to make decisions with confidence. HawkEye 360 is headquartered in Herndon, Virginia.

SOURCE HawkEye 360

The fund, with six initial investments, supports early-stage climate innovation with impact-first capital

CAMBRIDGE, Mass., July 13, 2023 — Prime Coalition, a nonprofit that steers and influences capital to support scalable solutions to climate change, and Azolla Ventures, an impact-first investing firm launched by Prime, have announced a $239 million blended fund. The new fund invests in companies that could significantly alter the trajectory of climate change, but are overlooked by traditional capital sources. Prime Coalition evaluates and governs impact and additionality for all potential investments and tracks and reports on accomplishment of impact, while Azolla Ventures assesses commercial potential and manages portfolio companies toward growth and maximal impact.

Azolla builds upon the track record of Prime Coalition’s previous impact-first investment programs, including Prime Impact Fund, which was built and deployed with the same investment managers. It blends catalytic, charitable capital with impact-aligned, market-rate capital to drive investment into solutions with deep potential for climate impact that are systemically overlooked by conventional financiers. Catalytic capital can be deployed to overcome risks that are a mis-fit for traditional venture capital. Through both initial investments and follow-on investments consistent with Prime’s mission requirements, Azolla is designed to embrace high risk at the earliest stages and help safeguard impact as companies scale.

“We founded Prime Coalition 10 years ago to support market-driven climate solutions that have massive potential but are overlooked by traditional finance,” said Sarah Kearney, founder and executive director of Prime Coalition. “Prime launched Azolla Ventures as our next approach to doing so for early-stage ventures, this time blending different types of capital under a single fund thesis. It is a celebration of difference: bringing together many different types of asset owners toward a shared, urgent mission, each aligned within their capital’s unique priorities and constraints.”

Investments made by the new Azolla Ventures fund must meet three investment criteria:

• Impact: Solutions must have the potential to reduce or remove at least 0.5 gigatons of carbon dioxide equivalent emissions cumulatively by 2050;
• Additionality: Solutions must be unlikely to raise sufficient financial support from conventional investors at the time of Azolla’s initial investment; and
• Commercial potential: Solutions must have high potential for achieving commercial success at scale, ultimately enabling the envisioned impact. The fund’s investment should also position the solution to unlock additional capital as it matures.

“The catalytic capital at the heart of the Azolla fund enables us to invest differently – in our embrace of riskier ideas, in our ongoing impact stewardship as board members, and in the fund design itself,” said Johanna Wolfson, co-founder and general partner at Azolla Ventures. “For example, we’re proud that our carried interest as investment managers is influenced by how well we manage portfolio companies toward impact, which is assessed independently by Prime Coalition.”

Prime Coalition has been a long-time leader in catalyzing sustainable, effective, and scalable solutions to climate change. Based on Prime’s pre-investment impact assessment methodology, Prime co-developed an open-source tool called CRANE that assesses the climate impact of early-stage climate ventures, and Prime now serves as convener of Project Frame, an 800+ member community of climate investors seeking technical standards for impact measurement. Prime and Azolla’s joint governance of impact stewardship among portfolio companies marks a significant innovation in a growing movement to design investment systems that aim to prevent impact-washing and greenwashing.

“We need a wide range of approaches to prevent catastrophic climate change, which is why Azolla Ventures does not invest in one sector or vertical. We are privileged to partner with visionary company founders from diverse backgrounds and areas of expertise, who work tirelessly to drive climate solutions with the greatest impact,” said Amy Duffuor, co-founder and general partner at Azolla Ventures. “From attacking industrial emissions to sequestering carbon in the soil, these companies will revolutionize our systems and the relationship to our world.”

“While there’s a historic amount of capital focused on climate overall today, early-stage breakthroughs still risk falling through the cracks,” said Matthew Nordan, co-founder and general partner at Azolla Ventures. “Azolla Ventures exists to catalyze the game-changers that will usher in a new era for our planet.”

Initial Azolla investments include: Heaten, developing high-temperature heat pumps for industrial processes; Funga, optimizing the forest microbiome for improved carbon storage; Sitration, developing membranes for low-cost battery recycling; Carbon Reform, deploying carbon capture systems in buildings for improved air quality and energy savings; Calcarea, decarbonizing shipping; and Scalvy, modularizing electric vehicle drivetrains for faster EV deployment.

About Azolla Ventures
Azolla Ventures, launched by Prime Coalition in 2021, is an early stage investor in climate breakthroughs that could avert catastrophic climate change. At Azolla Ventures, we prioritize impact first: every investment holds the potential for large-scale greenhouse gas reductions and a more just climate for all. The team seeks out bold entrepreneurs from all corners and embraces opportunities outside of venture norms. Azolla Ventures manages the $239MM Azolla Fund I and the $50MM Prime Impact Fund. For more information about Azolla Ventures, please visit https://www.azollaventures.com.

About Prime Coalition
Prime Coalition is a nonprofit organization that steers and influences capital to support scalable solutions to climate change. Since 2014, Prime has steered over $300MM in partnership with 250+ catalytic investors. Prime Coalition’s first impact-first pooled vehicle, Prime Impact Fund, is a 100% catalytic capital fund that made its 16th and final investment in 2021. Prime Coalition now has over 30 companies in its venture portfolio in total. To influence capital, Prime collaborates to build open source tools and convenes Project Frame to organize investors to improve forward-looking emissions impact methodologies and reporting best practices for climate-driven investments. For more information about Prime Coalition, please visit https://www.primecoalition.org/.

Business Contact
[email protected]
[email protected]

SOURCE Prime Coalition and Azolla Ventures

Over $3 million has already been raised for the app-connected, hardware-enabled coffee brand that is redefining the at-home coffee experience

SAN FRANCISCO, July 13, 2023 — Spinn, the revolutionary coffee brand offering an app-connected coffee and espresso machine and the world’s largest coffee marketplace, announced today that it has launched a public campaign on Wefunder. The campaign officially kicked off today, July 13th at 9:00 am ET, and will allow the general public to invest in the successful startup alongside major venture capitalists.

Spinn raised nearly $3.5 million from over 200 investors in the initial private round, led by serial entrepreneur Eliott Kessas of Daring Foods alongside top VCs like Spark Capital, Amazon’s Alexa Fund, and Bar9 Ventures. The fundraise is now open to the general public, granting amateur investors the unique opportunity to join these key financial players in owning a piece of the future of coffee. 

Spinn’s one-touch solution to high-quality coffee is revolutionizing the $362B global coffee market. With a world-class team from Microsoft, Dyson, Sony, Philips, Blue Bottle and La Marzocco, Spinn’s vision is to build a connected ecosystem for exceptional specialty coffee, solidifying a truly unique cultural experience and ultimately connecting people and coffee.

“Spinn is so much more than just coffee,” said Roderick de Rode, Founder and CEO of Spinn. “We aim to elevate the in-home experience through revolutionary innovation and ambitious goals for a more sustainable future. We’re excited to allow our community to be a part of that.”

Spinn’s centrifugal brewing system and accessories, as well as access to the expansive Roaster Market, are available direct-to-consumer at spinn.com or via the Spinn app (for iOS and Android). To learn more about Spinn and stay informed about the brand’s latest news, innovations, and more, please visit spinn.com and follow along on social at @spinn.

About Spinn
Spinn is a hardware-enabled coffee marketplace redefining the home coffee experience with extraordinary craft, wireless convenience, and zero waste. Unlike other products on the market, the revolutionary, brilliantly connected Spinn Coffee Maker effortlessly crafts the perfect coffee, espresso, cold brew, and more all from the touch of an app. Built with pre-programmed recipes and customizable brew settings, Spinn makes barista-level coffee using its patented centrifugal brewing technology. Additionally, the brand defines a new and unique better-for-the-planet coffee maker category using whole coffee beans instead of disposable filters or pods, all while offering unrivaled convenience. Spinn also offers a unique Roaster Market where consumers can discover connected local brewers and access a world of coffee at their fingertips.

MEDIA CONTACT:
Power Digital Marketing
[email protected]

SOURCE Spinn

RALEIGH, N.C., July 13, 2023 — 10 Federal, a leading operator of self-storage facilities, is pleased to announce the successful capital raise of over $27 million during the second quarter of the year for their 4th Self Storage offering. This impressive achievement has propelled the total capital raised by 10 Federal to an impressive $60 million for the year.

The substantial capital infusion highlights the strong investor confidence in 10 Federal’s innovative business model and their consistent track record of delivering exceptional returns. These funds will further fuel the company’s growth strategy and facilitate the acquisition of self-storage assets in strategic markets.

“We are delighted to have raised over $27 million in the second quarter, reaching a total capital raise of $60 million for the year,” said Cliff Minsley, Co-Founder of 10 Federal. “These funds enable us to continue executing on our growth strategy and further expand our portfolio in key markets.”

In line with their expansion goals, 10 Federal recently completed the acquisition of a portfolio consisting of three properties located in the thriving Spartanburg, SC market. This acquisition marks the seventh property purchased by 10 Federal this year and the eleventh property within 10 Federal Self Storage Acquisition Company 4, LLC. The addition of these properties further strengthens 10 Federal’s presence in the Spartanburg market and demonstrates their commitment to providing high-quality self-storage solutions in the region.

The Spartanburg portfolio acquisition aligns with 10 Federal’s strategic focus on acquiring properties in high-demand markets with favorable growth dynamics. These properties offer significant upside potential and are poised to capitalize on the strong demand for self-storage solutions in the Spartanburg area.

“We are excited about the acquisition of this three-property portfolio in Spartanburg,” said Andrew Capranos, President of 10 Federal Storage. “These additions further strengthen our presence in the region and allow us to offer top-quality self-storage solutions to meet the growing demand in Spartanburg and surrounding areas.”

10 Federal’s success in raising capital and acquiring new properties demonstrates their commitment to delivering exceptional service and value to their customers. As the company continues to expand its footprint, it remains dedicated to providing innovative self-storage solutions backed by cutting-edge technology and a customer-centric approach.

10 Federal’s exceptional performance in capital raising and property acquisitions underscores their position as a trusted leader in the self-storage industry. As they continue to expand their portfolio, 10 Federal remains dedicated to delivering innovative storage solutions and exceptional customer experiences.

About 10 Federal:

10 Federal is a leading high-tech operator of self-storage facilities, specializing in fully automated properties . With a portfolio spanning 14 states and over 75 properties, 10 Federal leverages innovative technology and data-driven insights to deliver exceptional self-storage experiences while providing superior investor returns.

SOURCE 10 Federal

– Horizon Platform Originates $52.7 Million of New Loans in Q2, Including $49.6 Million of New Loans Funded by HRZN – 

– Horizon Platform Ends Quarter with Committed Backlog of $183 Million, Including $159 Million in HRZN Commitments –   

FARMINGTON, Conn., July 12, 2023 — Horizon Technology Finance Corporation (NASDAQ: HRZN) (“HRZN” or the “Company”), 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 provided its portfolio update for the second quarter ended June 30, 2023 and an update on the lending platform (“Horizon Platform”) of Horizon Technology Finance Management LLC (“HTFM”), its investment adviser.

“As we thoughtfully navigated the challenging macro environment, the Horizon Platform originated $52.7 million of loans in the quarter, including $49.6 million of loans funded by HRZN,” said Gerald A. Michaud, President of HRZN and HTFM. “In addition, the Horizon Platform’s committed backlog of debt investments remained solid at quarter end with $183 million in commitments, including $159 million in HRZN commitments. During the quarter we received $28 million in loan payoffs and partial paydowns along with proceeds from warrant redemptions and earnouts, providing us with accelerated income, which further validated our predictive pricing strategy. Given the Horizon Platform’s strong pipeline and HRZN’s strong backlog of commitments, we believe we remain well positioned to prudently grow the Horizon Platform’s venture debt portfolio and deliver additional value to HRZN’s shareholders.”

Second Quarter 2023 Portfolio Update

Originations

During the second quarter of 2023, a total of $52.7 million of loans funded through the Horizon Platform, including 11 loans totaling $49.6 million funded by HRZN, as follows:

• $10.0 million to a new portfolio company, Viken Detection Corp., a developer of a variety of innovative X-ray and detection products utilized by various law enforcement agencies for the purposes of security, public safety and counterintelligence.
• $10.0 million to a new portfolio company, SafelyYou, Inc., a developer of an innovative remote care platform that combines real-time AI video technology with a 24/7 remote clinical team.
• $10.0 million to an existing portfolio company, Supply Network Visibility Holdings LLC (d/b/a Everstream Analytics), a provider of supply chain risk management software, in connection with the prepayment of its existing Horizon Platform loan facility and providing it with additional debt capital.
• $10.0 million to an existing portfolio company, Divergent Technologies, Inc., a creator of an innovative global manufacturing infrastructure platform for the automotive industry, of which HRZN will hold $7.5 million for its portfolio.
• $5.0 million to an existing portfolio company, a developer of neurovascular therapies to better treat brain diseases.
• $1.9 million to an existing portfolio company, a provider of a returns technology platform for retailers and brands.
• $1.2 million to an existing portfolio company, Nexii Building Solutions Inc., a green construction technology company focused on creating environmentally-friendly, durable, cost-efficient and disaster-resilient buildings.
• $0.7 million to an existing portfolio company, a builder of conservation memorial forests that offer sustainable alternatives to cemeteries.
• $0.5 million to an existing portfolio company, Groundspeed Analytics, Inc., a developer of an AI platform that captures, structures, and delivers complete risk data to commercial P&C insurance carriers.
• $0.2 million to an existing portfolio company, Corinth Medtech, Inc., a developer of an FDA-cleared device for treating symptoms related to Benign Prostatic Hyperplasia (BPH).
• $0.1 million to an existing portfolio company, an operator of commercial blood collection centers that source and distribute vital, in-demand blood components, such as platelets, to hospitals.

Liquidity Events and Partial Paydowns

HRZN experienced liquidity events from six portfolio companies in the second quarter of 2023, including principal prepayments and partial paydowns of $28.3 million and $1.5 million of warrant and earnout proceeds, compared to $32.1 million of principal prepayments and partial paydowns and no warrant and earnout payments during the first quarter of 2023: 

• In May, the Company received a payment of $1.5 million in cash and was issued $2.8 million of equity in Decisyon, Inc. in full satisfaction of Decisyon’s obligations to the Company under its venture loan.
• In May, HRZN received $0.8 million in proceeds in connection with the redemption of warrants in Riv Data Corp.
• In May, with the proceeds of a new loan from the Horizon Platform, Supply Network Visibility Holdings LLC (d/b/a Everstream Analytics) prepaid its previously outstanding principal balance of $11.1 million on its venture loan facility, plus interest and end-of-term payment. HRZN continues to hold warrants in Supply Network.
• In June, Groundspeed Analytics, Inc. was acquired by Insurance Quantified and Groundspeed prepaid its outstanding principal balance of $11.0 million on its venture loan and convertible note, plus interest, end-of-term payments and prepayment fees. HRZN also received proceeds totaling $0.5 million from the redemption of warrants it held in Groundspeed, as well as a preference payment on its convertible note of $0.9 million.
• In June, HRZN received a partial paydown of $4.7 million on its venture loan to Avalo Therapeutics, Inc.
• In June, HRZN received $0.2 million in proceeds in connection with an earnout payment and the redemption of warrants related to its investment in Bardy Diagnostics, Inc.

On July 12, 2023, Evelo Biosciences, Inc. (“Evelo”) paid down $5.0 million of the principal amount of its loans outstanding under that certain Venture Loan and Security Agreement by and among the Company, the other lender parties therein and Evelo, dated as of December 15, 2022, as amended (the “Loan Agreement”) and the Company and Evelo converted $5.0 million of the principal amount of the loans outstanding under the Loan Agreement into shares of Common Stock of Evelo.

Principal Payments Received

During the second quarter of 2023, HRZN received regularly scheduled principal payments on investments totaling $6.1 million, compared to regularly scheduled principal payments totaling $6.8 million during the first quarter of 2023.

Commitments

During the quarter ended June 30, 2023, HRZN closed new loan commitments totaling $73.6 million to six companies, compared to new loan commitments of $31.4 million to three companies in the first quarter of 2023.

Pipeline and Term Sheets

As of June 30, 2023, HRZN’s unfunded loan approvals and commitments (“Committed Backlog”) were $159.4 million to 19 companies. This compares to a Committed Backlog of $186.6 million to 19 companies at HRZN as of March 31, 2023. HRZN’s portfolio companies have discretion whether to draw down such commitments and the right of a portfolio company to draw down its commitment is often subject to achievement of specific milestones and other conditions to borrowing.  Accordingly, there is no assurance that any or all of these transactions will be funded by HRZN. Across the Horizon Platform, the quarter ended with an additional $23.5 million of unfunded loan approvals and commitments.

During the quarter, HTFM received signed term sheets that are in the approval process, which may result in the Horizon Platform providing up to an aggregate of $20.0 million of new debt investments.  These opportunities are subject to underwriting conditions including, but not limited to, the completion of due diligence, negotiation of definitive documentation and investment committee approval, as well as compliance with HTFM’s allocation policy. Accordingly, there is no assurance that any or all of these transactions will be completed or funded by HRZN.

Warrant and Equity Portfolio

As of June 30, 2023, HRZN held a portfolio of warrant and equity positions in 97 portfolio companies, including 81 private companies, which provides the potential for future additional returns to HRZN’s shareholders.

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. 

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 Horizon’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

WASHINGTON, July 12, 2023 — SineWave Ventures, a Silicon Valley and Washington DC-based venture capital firm, announced the close of a $160.3 million Fund III raise. The SineWave fund is oversubscribed by 30 percent, countering national narratives of a challenging venture capital climate.

In its announcement in Washington, SineWave noted that it has already returned its limited partners a remarkable seven times what they have invested, with expectations of even higher returns in the future. SineWave’s concentrated portfolio focuses on enterprise technologies that advance both commercial and public sector customer requirements, enhance data analytics and cybersecurity, encourage collaborative data science, and enable new levels of enterprise performance.

SineWave, a top 5 percentile fund per Cambridge Associates, currently has more than $300 million committed across diversified funds.

“Our team acts with strict financial discipline, can spot real enterprise solutions, and leverages unparalleled connections and understanding of both the commercial space and public sector to outperform the broader VC market,” said SineWave founder Yanev Suissa.

The team at SineWave has the unique ability to bridge Silicon Valley and Washington DC, which is advantageous in any economic environment, but especially critical during private market downturns when public sector investments in technology continue to grow. The team works closely with startups to access federal contracts and navigate commercial business opportunities, creating an environment where portfolio companies can succeed.

SOURCE SineWave Ventures

WASHINGTON, July 12, 2023 — Current Surgical Inc., a medical technology company developing a new surgical platform to improve the safety and efficacy of cancer surgery, today announced that it has received a $400,000 grant from the National Institutes of Health (NIH) to support the development of its technology. The grant, awarded by the NIH’s National Cancer Institute (NCI), will be used to develop and validate the company’s technology in a preclinical setting.

Cancer continues to be a leading cause of death worldwide, with more than 18 million new cases detected every year. Even though more than 50 percent of these cases are now detected at an early stage, curative options have not kept pace.

Current Surgical has set out to change that. Their smart surgical needle technology combines high resolution sensors and real-time image analysis into one tool, giving doctors precise control and feedback while destroying tumors. As a result, surgeons will be able to treat any solid tumor in any location — allowing millions of patients to receive curative surgery without the traditional limitations.

“We are excited to receive this funding from the NCI,” said Al Mashal, CEO of Current Surgical. “This grant will allow us to accelerate the development of our platform and bring it to patients as soon as possible.”

“Our technology has the potential to make a significant impact on the way cancer surgery is performed,” said Chris Wagner, CTO of Current Surgical. “With this funding from the NCI, we are one step closer to making that vision a reality.”

Current Surgical’s technology is automating key steps of surgery so doctors can instead focus on determining the best treatment for patients. Beyond treating even the most intractable diseases, the technology has wide-ranging applications, from treating cardiac arrhythmias and hypertension to other sources of chronic pain.

About Current Surgical

Current Surgical is a medical technology company developing a new surgical platform to improve the safety and efficacy of cancer surgery. The company’s technology is a software-enabled surgical platform that uses artificial intelligence (AI) to automate key steps of cancer surgery. The platform is designed to improve the accuracy and precision of surgery, while reducing the risk of complications.

Current Surgical is headquartered in Washington, DC. For more information, please visit www.currentsurgical.com and follow along on LinkedIn and Twitter @CurrentSurgical.

About the National Cancer Institute (NCI)

NCI leads the National Cancer Program and NIH’s efforts to dramatically reduce the prevalence of cancer and improve the lives of cancer patients and their families, through research into prevention and cancer biology, the development of new interventions, and the training and mentoring of new researchers. For more information about cancer, please visit the NCI website at cancer.gov or call NCI’s contact center, the Cancer Information Service, at 1-800-4-CANCER (1-800-422-6237).

About the National Institutes of Health (NIH)

NIH, the nation’s medical research agency, includes 27 Institutes and Centers and is a component of the U.S. Department of Health and Human Services. NIH is the primary federal agency conducting and supporting basic, clinical, and translational medical research, and is investigating the causes, treatments, and cures for both common and rare diseases. For more information about NIH and its programs, visit nih.gov.

SOURCE Current Surgical

IRVINE, Calif., July 12, 2023 — ATIF Holdings Limited (NASDAQ: ATIF, hereinafter referred to as the “Company” or “ATIF”) Mr. Liu Jun, President, Chairman of the Board and CEO of ATIF, was interviewed by renowned media person Yang Jinlin recently. Mr. Liu shared his insights on financing services for Chinese-American companies and Chinese companies, and discussed the differences between the Chinese and American capital markets, as well as topics such as entrepreneurship and philanthropy.

As a company focused on providing initial public offering consultancy services to overseas Chinese enterprises, Liu Jun said that for Chinese enterprises, it is very important to choose the financing method suitable for their own development. ATIF is committed to tailoring initial public offering consultancy service solutions to meet customers’ needs and providing them with professional initial public offering consultancy advice and all-round support.

Liu Jun further explored the differences between the Chinese and American capital markets. He stressed that the US market has a mature legal and regulatory system and a sound regulatory mechanism to ensure market transparency and stability. In addition, investors in the US market pay more attention to corporate governance structure and the reliability of financial statements, so companies need to provide sufficient transparency to attract investors’ attention.

In this interview, ATIF President, Board Chairman and CEO Jun Liu shared his insights on the financing services for Chinese American companies and Chinese stocks, and talked about the differences between the Chinese and US capital markets. He also encouraged enterprises to seize opportunities in the US market and strengthen cooperation with local investors and partners through his own entrepreneurial journey in the US.

About ATIF

ATIF Holdings Limited (NASDAQ: ATIF) is a Lake Forest-based business consulting company that specializes in providing professional IPO, M&A advisory and post-IPO compliance services to small and medium-sized companies seeking to go public on a stock exchange in the United States. The company has a proven track record in successfully delivering comprehensive U.S. IPO consulting services to clients primarily in the United States but also internationally. The mission of ATIF is to provide one-stop, comprehensive consulting services that guide clients through the complex and often challenging process of going public. ATIF recognizes the complexity and challenges associated with the process of going public, and endeavors to simplify it while ensuring optimal outcomes for its clients through its comprehensive consulting services. ATIF has been awarded the “Golden Bauhinia Award”, the highest award in the financial and securities industry in Hong Kong, for “Top 10 Best Listed Companies”.

Forward-Looking Statements

Certain statements in this press release are “forward-looking statements” within the meaning of the “safe Harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, “estimated,” “projected,” Words such as “expect”, “anticipate”, “predict”, “plan”, “intend”, “believe”, “seek”, “may”, “will”, “should”, “future”, “propose” and variations of these words or similar expressions (or the opposite of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements do not guarantee future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control and may cause actual results or achievements to differ materially from those discussed in the forward-looking statements. Important factors include future financial and operating results, including revenues, income, expenses, cash balances and other financial items; Ability to manage growth and expansion; Current and future economic and political conditions; The ability to compete in industries with low barriers to entry; The ability to obtain additional financing to fund capital expenditure in the future. Ability to attract new customers and further enhance brand awareness; Ability to hire and retain qualified management and key staff; Trends and competition in the financial advisory services industry; Pandemic or epidemic disease; Except as required by law, the Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, the Company cannot assure you that such expectations will turn out to be correct, and the Company cautions you that actual results may differ materially from the expected results expressed or implied by the forward-looking statements we make. You should not interpret forward-looking statements as predictions of future events. Forward-looking statements represent only the beliefs and assumptions of our management as of the date such statements are made. The above forward-looking statements are made as of the date of this press release.

SOURCE ATIF Holdings Limited

New Capital Accelerates Growth of Innovative Financial Services Solutions & Product Development 

SAN FRANCISCO, July 12, 2023 — Silo Technologies, the leading provider of modern technology solutions for the food supply chain, today announces $132 million in new capital. The company’s $32 million Series C round was led by Koch Disruptive Technologies, a subsidiary of Koch Industries, a global leader in supply chain logistics known for their focused investments in technologies that disrupt established industries. Additional participants in the round included existing investors Andreessen Horowitz, Haystack Capital, Tribe Capital, Collate Capital and Moore Capital.

Silo offers a holistic fintech platform that makes financial solutions and data insights accessible

for distributors and grower shipper businesses of the perishable food supply chain. Last year, Silo secured financing to introduce a working capital program called Instant Pay and after a successful track record of providing their customers with an innovative way to manage and access working capital, the company has received more attention. Today, First Citizens Bank is partnering with Silo to provide an additional $100 million to launch Silo’s new funding program called Cash Advance. These two funding facilities will help expand Silo’s capital program and embed additional fintech services, empowering more supply chain businesses to survive and thrive during an economic downturn.

“We’re thrilled to be a part of Silo’s journey to create a more efficient and sustainable food supply chain,” said Brendon Durkin, Managing Director of Koch Disruptive Technologies. “What Silo is doing is impressive because they are providing actionable solutions in a complex, competitive market that bring immediate benefits to businesses using their products. Given the success they’ve had in perishable foods, we think there is an opportunity to apply their products to other supply chains and commodities. We’re excited to see what they’ll be able to do next.”

By equipping perishable food businesses with actionable insights, cost effective capital and intuitive, connected solutions that optimize inventory and financial performance, Silo helps businesses succeed in today’s competitive market. Its innovative finance platform, called Silo Finance, gives customers a full understanding of their cash flow and financing in an easy and fluid way. With this new round of funding and additional capital, Silo plans to continue product development of its platform in an effort to bring its holistic solutions to more businesses within the perishable food space.

“We’re pleased to have built such a strong base of investors who bring a diverse set of expertise to the table. Koch Industries is one of the greatest supply chain companies. Adding KDT to the team validates what we’re trying to achieve and brings additional supply chain expertise as we take Silo to the next level. Pairing that with the existing investor base, which has deep technical and fintech knowledge is very exciting as we expand our impact within the supply chain in 2023 and beyond,” said Ashton Braun, CEO and co-founder of Silo.

Silo’s growing customer base has experienced impressive metrics. For example, three Miami-based  distributors saw a 350% average increase in revenue in one year from using Silo Capital. This was the result of their ability to fluidly access working capital with Instant Pay which enabled them to execute on market opportunities that resulted in massive growth.

“Cash flow gaps are going to happen, especially given the seasonality of fresh produce. It’s essential for produce businesses to find a financing partner that comes through in a tight pinch. Silo Capital is like a trigger switch with a unique underwriting process that makes it possible for them to turn around capital faster than I have seen in my entire career as a CFO,” said Mason Brady, Founder of Brady CFO and former CFO and Director of Supply Chain at Homegrown Organic Farms.

“We first invested in Silo in early 2020, and since then the company has developed a track record for building market changing technology and services through its fintech platform,” said Anish Acharya, general partner at Andreessen Horowitz. “Silo has also demonstrated market potential with its ability to piece together information that reduces risk for both its business and the businesses that back them, empowering more SMBs to have a larger seat at their industry table.”

About Silo

Silo Technologies is the leading provider of technology solutions for the food supply chain. Based in San Francisco and founded by Ashton Braun in 2018, Silo has raised $272 million in funding from leading investors like KDT, Jefferies Financial Group, Andreessen Horowitz and Initialized Capital. For more information, visit https://usesilo.com

About Koch Disruptive Technologies

Koch Disruptive Technologies (KDT) is a unique investment firm, focused on empowering founders to create a could-be world. KDT provides a flexible, multi-stage investment approach from early venture capital through growth equity, including private and public companies. We work with principled entrepreneurs who are building transformative companies, disrupting the status quo, and creating new platforms. KDT is a subsidiary of Koch Industries, one of the largest privately held companies in the world with annual revenues that exceed $125 billion and operations in about 60 countries. KDT helps its partners unlock their full potential by bringing Koch’s capabilities and network to them, structuring unique capital solutions, and embracing a long-term, mutual benefit mindset. For more information, visit http://www.kochdisrupt.com/

SOURCE SILO