NEW YORK, May 8, 2023 — Webb Protocol, the leading privacy system for cross-blockchain asset transfers, has raised $7 million USD in a seed funding round co-led by Polychain and Lemniscap, with participation from Zeeprime, CMS Holdings among others.

The funding will go towards growing Webb’s staff base, accelerating the development of innovative privacy tools and protocols – including Zero-Knowledge and Multi-Party Computation (MPC) solutions – while creating the most privacy-centric and streamlined user experience possible.

Considering the frequency with which assets are transferred across various chains, the risk of data privacy being undermined through different attack vectors is substantial. Webb is spearheading a new privacy standard on cross-chain applications through its private bridge protocol – an interoperable privacy network for cryptocurrency assets and data. With offices in New York, Tel Aviv, Cairo and Miami, Webb has already established a strong global footprint, as it gears up for an extended phase of international growth.

The Webb protocol is an interoperable zero-knowledge proof based system for privately moving assets between blockchains. Webb plans to extend this capability into a cross-chain messaging system with zero-knowledge-based property testing for data stored in the system. The company is tackling the privacy pain point for emerging protocols by building a cross-chain interoperable privacy network for cryptoassets that enables shared anonymity pooling for assets on any WASM compatible chain – serving users across the entire blockchain ecosystem.

Drew Stone, Founder and CEO of Webb Protocol, said: “At Webb, we want to maximize the multi-chain ecosystem experience while upholding the highest standards of privacy. Our blockchain infrastructure and privacy protocols are designed to work seamlessly across different chains and applications. I’d like to sincerely thank our investors for supporting our vision to spearhead a best-in-class decentralised anonymity protocol for Web3 assets, with a view to scaling privacy for everyone in the crypto space.”

Roderik van der Graaf, Founder of Lemniscap, said: “Given the proliferation of new emerging blockchain protocols that are rapidly gaining traction, the importance of cross-chain privacy has never been more pronounced. With exceptional technical know-how and strategic acumen, the Webb team has all the tools to create the most decentralised privacy system across the Web3 landscape, and we’re delighted to support them in this mission.”

Niraj Pant, General Partner, Polychain, said: “Webb continues to drive innovation in privacy and distributed governance. Zero-Knowledge and Multi-Party Computation have the potential to significantly transform the way users interact with cryptocurrencies and decentralized applications. We’re excited to be part of their journey in shaping the future of digital privacy.”

About Webb

Webb is on a mission to scale privacy for everyone, covering all assets, data, and locations – spearheading a new privacy standard on cross-chain applications through its private bridge protocol. By building interoperable privacy protocols and blockchain infrastructure, the company aims to serve users across the entire blockchain ecosystem. For more information visit: https://webb.tools/

About Lemniscap

Lemniscap is an investment firm specializing in investments in emerging crypto assets and blockchain startups. Since its founding in 2017, Lemniscap has funded multiple investments in the crypto blockchain space, on the core belief that blockchain technology will upend traditional business models, resulting in profound changes in the world economy. The Lemniscap team consists of talented people with backgrounds in financial markets, PE/VC, technology and entrepreneurship. For more information, visit https://lemniscap.com/.

Photo – https://mma.prnewswire.com/media/2070785/Webb.jpg

SOURCE Webb Protocol

NEW YORK, May 8, 2023 — Cloudburst Technologies, a leading provider of cyber threat intelligence solutions aimed at digital currency/cryptocurrency fraud, announced today the closing of a $3 million seed investment round. The investment was led by Strategic Cyber Ventures (SCV) joined by Coinbase Ventures and Bloccelerate.

Cloudburst Technologies provides realtime monitoring solutions and cyber threat intelligence tools to help track fraud in the cryptocurrency market live as it happens — and the actors responsible for it. Cloudburst offers solutions that serve customers in the public sector, the web3 ecosystem, and in traditional finance. With Cloudburst’s unique and powerful set of tools, investigators track and identify threat actors responsible for cryptofraud in a way that doesn’t depend on anonymous wallet addresses.

“We are thrilled to have the support of SCV, Coinbase Ventures, Bloccelerate, and our other strategic investors as we continue to develop cyberintelligence solutions for digital currencies,” said Evan Kohlmann, CEO and Founder of Cloudburst Technologies. “This investment is a testament to the hard work and dedication of our team, and we look forward to building on this momentum to buttress the security and stability of the cryptocurrency market by establishing new standards for cyberintelligence in the space.”

Kohlmann, who previously co-founded Flashpoint, expressed his gratitude for the opportunity to venture into the cyberintelligence market once again, with a new direction and innovative approach. “We are excited for the opportunity to unleash the lengthy expertise of our team in the direction of a new cyberintelligence frontline–and I believe that the progress we have made already speaks for itself,” he said. “We hope to fundamentally change the nature of how the industry defends against digital currency fraud.” Kohlmann also expressed his pride in representing the New York City tech community, which continues to lead the way in innovation for big data and fintech.

“We are excited to partner with Cloudburst Technologies and support their mission to provide innovative cryptofraud intelligence solutions that improve the stability of the digital currency ecosystem,” said Hank Thomas, CEO and Founder of Strategic Cyber Ventures. “We believe that Cloudburst’s approach will be a primary tool for securing the cryptocurrency environment, eliminating scams, allowing for further professionalization of the industry.”

For more information about Cloudburst Technologies and its solutions, please visit: www.burst.cloud.

Contact:
Evan Kohlmann
CEO, Cloudburst Technologies
[email protected]

About Cloudburst Technologies

We understand the challenges in the volatile world of cryptocurrency trading, where malicious actors use tactics like price pumping, wash trading, and spoofing to cause losses of millions of dollars. Our regulatory solutions, including the Cloudburst API, help clients anticipate and defend against market manipulation. Investors, exchanges, and even regulatory agencies are flying blind — and are often on the losing end of these murky transactions. Cloudburst helps you understand, anticipate, and defend against adverse market manipulation events with our suite of regulatory solutions.

About Strategic Cyber Ventures

SCV is a Washington D.C. based venture capital firm that invests in rapidly growing cybersecurity, privacy, and resilient technology focused companies. The SCV team brings an expert, more modern venture capital experience to startup founders and the broader investment ecosystem. Their unique emphasis on innovation in the security space helps bridge the gap between emerging commercial technology and corporate and national security challenges.

SOURCE Cloudburst Technologies

Investment will accelerate technology development and network expansion to reduce plastic waste

SAN JOSE, Calif., May 8, 2023 — Olyns, a leader in innovative recycling technologies, today announced its Series A financing of $4 million, led by Vanedge Capital. The funding will accelerate Olyns’ development of AI-driven technology and expand its dual recycling and media network.

With its eye-catching container collection Cubes, Olyns innovates at the nexus of retail media and recycling. Rethinking the technology and business model for recycling, Olyns’ Cubes use sophisticated AI techniques and algorithms that can identify any container. The Cubes also introduce a new revenue paradigm for recycling by doubling as retail media displays and providing data-driven insights into consumer recycling behavior and brand-specific recycling rates. 

Olyns’ advertising-driven business model delivers value to site hosts, brands, and people. Retail partners gain foot traffic, a share of revenue from ad sales, and a turnkey recycling solution; brand advertisers reach consumers in-store and enhance their sustainability credentials; and customers gain access to convenient recycling, bottle deposit redemptions (in “bottle bill” states), and valuable rewards.

“Olyns set out to address the challenges surrounding plastic waste by rethinking the consumer recycling ecosystem,” said Philip Stanger, Co-Founder and CEO of Olyns. “Momentum is growing, and this funding will help us expand and grow our network, which is proven to be both profitable and scalable. The investment will accelerate the development of our technology and build out our network of Cubes, bringing us closer to changing the perception of recycling and improving recycling rates in the United States and around the globe.”

“Innovating the consumer approach to plastic waste is an essential step in the shift to a circular economy. The Olyns platform is a proven, effective, and profitable model that shifts the consumer recycling paradigm,” said Paul Lee, Managing Partner at Vanedge Capital. “We are excited to support their talented founding team, who came out of Apple, on their mission to build a business that can make a meaningful difference and impact.”

Olyns currently partners with The Coca-Cola Company, PepsiCo, and Mars Wrigley and is expanding its network of recycling Cubes in California, Georgia, and other US states.

“More than 140 million tons of plastic from packaging become waste every year, accounting for over 45% of all plastic waste generated in the world,” said Stanger. “Consumer goods companies have been searching for ways to reduce their impact and build a sustainable, circular model for their products. Olyns will help make that a reality.”

About Olyns

Olyns innovates at the nexus of retail media and recycling. Its dual-purpose Cubes, located at the entrance of popular retailers, provide convenient beverage container recycling to consumers and impactful advertising to brands. Olyns’ unique business model, which funds recycling through advertising, delivers value to retailers, brands, and people. Each RVM Cube holds more than 2200 containers and is capable of redirecting tons of recyclable material each year. By increasing container recycling, reducing plastic pollution, and increasing the supply of best quality recycled plastic, Olyns furthers its mission: accelerating the shift to a circular economy.

About Vanedge Capital

Vanedge Capital is a Vancouver based venture fund investing in early-stage companies building foundational new technologies that have potential to meaningfully improve the world, focusing on next generation analytics, computational biology, and disruptive hardtech platforms. The team of professionals at Vanedge leverage their strong network connections and significant operating expertise to accelerate the growth of these game-changing companies.

Press Contact:

Hannah Moloshok

[email protected]

SOURCE Olyns

WASHINGTON, May 8, 2023 — MPOWER Financing, a mission-driven fintech firm and a leading provider of non-cosigned loans to promising students from around the world, announced that it recently closed a $150 million revolving asset-backed warehouse facility with Goldman Sachs.

“We are thrilled that Goldman Sachs is supporting the MPOWER team as we contribute to the important mission of making higher education and socioeconomic mobility accessible to the millions of international and DACA students studying in North America,” said Manu Smadja, CEO and Co-founder of MPOWER Financing. “91% of our students say that an MPOWER loan is instrumental to their ability to study abroad, so this funding will enable us to further democratize access to higher education.”

The funding will be used to expand MPOWER’s rapidly growing portfolio of student loans issued to international and DACA students attending one of 400+ leading colleges and universities across the U.S. and Canada. In 2022, both the U.S. and Canada reached record levels of enrollment for new international students.

“Goldman Sachs has an established track record of raising and providing capital to innovative fintechs and we believe MPOWER’s growth trajectory, portfolio performance and global ecosystem supporting students around the world aligns with previous relationships in the sector,” said Christopher Zaki, head of capital markets at MPOWER Financing.

This financing facility accompanies another financing facility which MPOWER closed with Deutsche Bank AG, New York Branch in 2022. Additionally, in 2021 the company raised $100 million in equity capital from a consortium of investors, including Tilden Park Capital Management and King Street Capital Management.

About MPOWER Financing 
MPOWER Financing, headquartered in Washington, D.C., and with employees worldwide, is a mission-driven fintech company and the leading provider of global education loans. Its proprietary algorithm analyzes overseas and domestic credit data as well as future earning potential to serve promising international and DACA students. MPOWER works with over 400 top universities across the U.S. and Canada to provide financing to students from over 200 countries. The MPOWER team consists of former international students and provides students with personal financial education and career support to prepare them for life after school.

MPOWER is a Certified Great Place To Work, one of the best fintechs to work for, and the best tech workplace for diversity. The company is hiring for various positions worldwide.

Media Contact
Mo Shafroth 
Peaks Strategies 
(720) 470-3653 
[email protected] 

SOURCE MPower

Funding will support the commercial launch of two medical food products

CAMBRIDGE, Mass., May 8, 2023 — Solarea Bio, a clinical stage biotechnology company based in Cambridge, MA developing food-derived microbial-based solutions to aid human health, announced today a first closing of $15m in a Series B financing led by S2G Ventures with continued participation of Bold Capital Partners, Viking Global Investors, and GG 1978 SICAF SIF. A total of up to $25 million is targeted for this round of financing. The funds will be allocated to the commercial launch of two medical foods designed for the dietary management of bone health and rheumatoid arthritis, respectively.

Solarea developed its platform to characterize beneficial microbes that naturally colonize fresh fruits and vegetables, developed them into rationally designed synbiotic consortia called Defined Microbial Assemblages^TM (DMAs^TM) and validated their efficacy in several disease models. The first product, SBD111, a medical food designed to aid in the dietary management of bone loss in postmenopausal women demonstrated significant bone maintenance in a mouse model of postmenopausal osteoporosis and results were published in a peer-reviewed journal. The product demonstrated a safety and tolerability profile comparable to placebo in healthy subjects, and a large efficacy study is ongoing to demonstrate its effects on maintaining bone mass in postmenopausal women. The second medical food product, SBD121, is designed to aid in the dietary management of rheumatoid arthritis and will enter a human study this year.

“We are very excited to see the rapid progression from our founding hypothesis: that microbes from fresh fruits and vegetables have health benefits, to the clinical validation stage, and the upcoming commercial launches. I thank our amazing team for their hard work and dedication to execute on our lofty goals. A big part of the company’s success has been the role our outstanding investors played partnering with a great team at Solarea, and we are looking forward to continuing successes as we transition to a commercial stage by launching our medical food products to the market,” said Gerardo V Toledo, CEO and co-founder.

Solarea Bio is building a pipeline of other products leveraging the deep understanding of the interactions of DMA^TM products with the immune system. Scientific rigor is one of the company’s cores values and it is manifested in the caliber of the data, team, advisors, and collaborators.

“Solarea Bio embodies attributes S2G Ventures seek in the companies we invest,” says Matthew Walker, Managing Director, and board member. “These include a an incredibly dedicated team, a clear vision to create products with a positive impact in our society, and a path to commercialize them.”

Neal Bhadkamkar, General partner at Bold Capital Partners and board director commented: “It is heartening to see the evolution of Solarea Bio from its beginnings at the Illumina Accelerator. Bold Capital looks forward to the launches of Solarea’s first two products over the coming few years. Looking farther out, the company’s rich database and strain library positions it to introduce a stream of future products addressing other important health conditions.”

About Solarea Bio 
Solarea Bio is a clinical stage biotechnology company based in Cambridge, MA mining the untapped microbial diversity of fresh fruits and vegetables to develop novel solutions for managing inflammatory diseases and enabling people to enjoy long, healthy lives. Solarea has built a best-in-class strain catalog of bacteria and fungi, a database of their genomes, and a computational platform to mine them to develop products across a range of categories including supplements, medical foods, pharmaceuticals, and agriculture.

Contact:

Eric Schott
[email protected]
[email protected]

SOURCE Solarea Bio

LONDON, May 5, 2023 — nChain, a world leader in Web3 and Blockchain technologies, today announces that it is investing $2.4 million and taking a 20% equity stake in Asset Layer, a complete digital asset platform powered by blockchain.

Digital assets combine files and data with an ownership mechanism enabling users to manage ownership on the Internet. Verticals from gaming, to supply chain to healthcare utilize digital assets and Asset Layer is the first purpose-built complete solution that simplifies digital asset creation and trading.

nChain and Asset Layer are leading the transition to Web3 by providing next-gen apps with efficient and interoperable digital assets. Asset Layer’s platform enhances customer engagement for brands by allowing non-technical teams to effortlessly create interoperable digital assets that can serve multiple branding purposes, such as loyalty programs and community engagement. 

nChain and Asset Layer are focused on providing utility and value to users while maintaining efficiency, simplicity, and affordability. Asset Layer is a pioneering Digital Asset as a Service solution and partnering with nChain offers an opportunity to serve larger enterprise customers. Asset Layer currently has 14 active apps, a catalogue of over 5 million digital assets created and has recorded over 12 million on-chain transactions.

Christen-Ager Hanssen, nChain Group CEO, said that “Asset Layer is a fantastic addition to our ecosystem. Asset Layer is the right product for several projects nChain is currently leading. Together we are transforming legacy tools to be relevant in Web3.”

By leveraging nChain’s robust Web3 and Blockchain IP portfolio, the partnership will enhance Asset Layer’s offering and drive the adoption of the platform. nChain provides the core blockchain infrastructure behind Asset Layer’s solution, which is affording customers interoperability, security, and scalability.

“nChain is spearheading the world’s transition from Web2 to Web3. Our platform’s easy-to-use toolset not only helps simplify that transition, but it also helps turn Web3 apps into a Web3 ecosystem by enabling application interoperability,” added Jackson Laskey, Asset Layer CEO. “With nChain’s IP, tech, and team as a catalyst, not only can Asset Layer reach its potential but so can the wider Web3 world.”

Currently, the global Digital Asset Management market size is expected to grow from $4.7 billion in 2023 to $8.7 billion by 2028. This collaboration between nChain and Asset Layer is enabling innovation and powering the creator economy.

About nChain

nChain is a leading provider of global blockchain technology, IP licensing and consulting services. We serve clients globally to power several industries, including gaming, supply chain, and finance. nChain offers Web3 solutions provider defined by a purpose-driven team that has come together to address some of the global challenges and make a social impact, transforming the world from Web2 to Web3. nChain currently has almost 2,800 granted and pending patents and is the developer behind the Bitcoin SV Node software, Teranode, Kensei and more. Recently voted one of the Top 100 most innovative firms in the world.

About Asset Layer Inc.

Asset Layer delivers interoperable digital assets for web3 applications. Developers and creators can leverage our powerful API and no-code tools to create and manage all of their digital assets and easily share them across applications, all available with affordable and predictable SaaS pricing.

For more information contact: 
To learn more visit assetlayer.com.

Contact:

Haris Khan
+44 (0)7503 581563
[email protected]
Mobile: +44 (0) 7503 581 563

SOURCE nChain

SHANGHAI, May 5, 2023 — The 2023 Forbes Midas List, a prestigious industry list of world’s best venture capital investors, was unveiled. Qiming Venture Partners Managing Partner Nisa Leung and Founding Managing Partner Duane Kuang made the list.

The Midas List, which was launched in 2001, is named after the Greek mythology figure King Midas, who could convert anything he touched into gold. Thus, the list is also known as the “Golden Touch List” and regarded as one of the most recognized awards in the VC sector.

Nisa Leung has become a Forbes Midas Lister for the fifth year in a row, placing 41st this year. She has consistently ranked first among Chinese healthcare investors over the last five years. She was also named Forbes China’s Best Female Venture Capitalist in 2022, topping the list.

Nisa and her team have demonstrated a strong commitment to identifying startups that contributes to China’s healthcare system while meeting global unmet medical needs. She oversees a portfolio of nearly 200 healthcare companies, including Gan & Lee Pharmaceuticals, Zai Lab, CanSino Biologics, New Horizon Health and Venus MedTech.

Duane Kuang made the Forbes Midas List for the fourth time, ranking 70^th this year. Duane co-founded Qiming in 2006 and led investments in the Technology and Consumer (T&C) sector.

With more than 30 years of experience in corporate management and investing, Duane is a seasoned investor who remains active in the VC space over the past years. His key investments included Roborock, WeRide, UBTech, UniSound, Hesai Technology, CYG Intelligent Automation, Chaitin Tech, and Qiniu Cloud among others.

In 2022, Qiming invested in more than 90 companies and welcomed 40 IPOs in the last 24 months.

About Qiming Venture Partners

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston and the San Francisco Bay Area.

Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.4 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.

Since our debut, we have backed over 480 fast-growing and innovative companies. Over 180 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange or Shenzhen Stock Exchange, or through M&A or by other means. There are also over 70 portfolio companies that have achieved unicorn status.

Many of our portfolio companies are today’s most influential firms in their respective sectors, including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, New Horizon Health, Venus MedTech, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, Biren Technology and UBTech among many others.

SOURCE Qiming Venture Partners

KNOXVILLE, Tenn. , May 5, 2023 — Veteran Ventures Capital’s (“Veteran Ventures”) Veteran Fund I is proud to announce an investment in Vantage Robotics (“Vantage”). With their advanced drone and enabling technologies, Vantage Robotics is revolutionizing the way the military and national security agencies collect and analyze critical data in field.

Veteran Ventures’ Founder and Managing Partner, Derren Burrell, stated, “Veteran Ventures is thrilled to partner with Vantage Robotics, a leading dual-use unmanned aircraft system (UAS) company in the United States. With increasing demand for drone-based intelligence, surveillance, and reconnaissance (ISR), Vantage is ideally positioned to continue expanding their portfolio of technologies to government and commercial customers.”

Vantage has been awarded over $20 million in research and development (R&D) contracts from the U.S. Department of Defense, including the Defense Innovation Unit, U.S. Army, and the U.S. Air Force. Vantage has also been selected by the U.S. Army to develop the next generation nano drone, competing for the $100M Soldier Borne Sensor production contract. Vantage’s nano drone offers a palm-sized unmanned aerial system and situational awareness tool, providing soldiers an organic “quick look” capability for near-time video feeds of larger, complex, and restrictive environments during day, night, and reduced visibility conditions. This capability is intended to be deployed at the level of the Army’s 7,000 squads. Other national security agencies have expressed early interest in this innovative platform as well.

Vantage’s executive and management teams combine a powerful pedigree of successful founders in hardware and software technologies and experienced veteran leadership in government sales. Collectively, the Vantage executive team has overseen the stand-up of 14 successful companies, filed over 100 patents, and designed and developed over 61 products. Vantage leverages this expertise and experience towards rapidly growing the business, identifying opportunities for innovation and differentiation, and a relentless focus on user-centric design.

Veteran Ventures is excited to join Refinery Ventures and Silicon Valley investors with this investment.

About Veteran Ventures Capital, LLC

Veteran Ventures is a veteran-owned investment firm focused on investing in national security technologies and veteran entrepreneurs and leadership. Veteran Ventures recognizes the value of military experience, training, and character providing success in all aspects of business growth and operations. For more information, please visit: www.veteranventures.us.

About Vantage Robotics

Vantage Robotics designs, builds, and sells UAVs and enabling technology that support national security, aid public safety, and maintain critical infrastructure. For more information, please visit: https://vantagerobotics.com/.

Contact: Craig Jaques
Email: [email protected]

SOURCE Veteran Ventures Capital

– Funds will be utilised to acquire long-term licenses of international fashion and lifestyle brands and expand company’s proprietary technology stack

BENGALURU, India, May 5, 2023 — ace turtle, new India’s leading technology-native retail company spearheading the retail industry’s next phase of transformation, today announced that it has raised USD 34 million as part of its Series B funding. The fundraise demonstrated significant interest from existing and new investors. The Series B round was led by new investors Vertex Growth, SBI Investment Co. Ltd., Farglory, Lesing Nine, Stride Ventures, Tuscan Ventures and Trifecta Capital. The existing investors Vertex Southeast Asia & India and InnoVen Capital also participated in this round.

Commenting on the funding, Nitin Chhabra, CEO, ace turtle said, “Our aim is to lead the next phase of retail in India and scale it to new heights through vertical commerce. The funds will be utilised to develop cutting-edge technological tools that ensure seamless omnichannel operations, acquire licenses for new fashion and lifestyle brands, and recruit skilled talent across all levels to support the aggressive growth plans. This will help us to expand our brand portfolio and solidify our competitive edge in the market.” 

ace turtle grew significantly in the financial year 2022-23 by doubling its revenue and becoming EBITDA-positive. ace turtle aims to sustain this impressive growth trajectory in the coming years. Its portfolio of licensed brands currently comprises Lee®, Wrangler®, Toys”R”Us® and Babies”R”Us®.  

James Lee, General Partner of Vertex Growth said, “We are delighted to be a part of India’s massive consumer upgrade story. We are fully committed to partnering with exceptional and promising organisations that are on the brink of growth. The asset-light approach of ace turtle, their deep domain expertise in product supply chain and utilisation of data-driven insights in understanding consumer behaviour and demand, present significant opportunities for the integration of cutting-edge omnichannel tech solutions into brand operations, thereby facilitating substantial growth in the foreseeable future.”

Yoshitaka Kitao, Chairman and President of SBI Investment said, “One of the key investment themes for us has been Asia’s domestic consumption. We believe India will be a leading source of global growth in the decades ahead, supported by positive demographics, a growing middle class and deepening internet penetration. This investment in ace turtle builds on our program to provide long-term capital to innovative companies transforming industries at scale. We look forward to supporting ace turtle’s efforts in enabling the growth of India’s retail market through technology.” 

Bengaluru and Singapore-based ace turtle is vertically integrated from design, local manufacturing and marketing to reach consumers directly. ace turtle is powered by its proprietary technology which uses data science from design to fulfilment to meet ever-evolving consumer expectations.

About Vertex Growth:

Vertex Growth is dedicated to partnering with exceptional entrepreneurs and promising companies on the cusp of growth. The firm provides the expansion capital to realise the companies’ vision of creating a category champion that is enduring and transformational. Vertex Growth is part of Vertex’s global network of venture capital funds comprised of affiliates in China, Israel, Southeast Asia and India, and the US. Through the Vertex network, Vertex Growth accesses opportunities emerging from the leading innovation hubs across the world and drive significant value by working closely with the Vertex ecosystem of portfolio companies and partners.

About SBI Investment Co., Ltd.

SBI Investment Co., Ltd. is the major VC arm of SBI Holdings. Over the last 20 years, it has invested in over 1000 companies and has 190+ exits. SBI Investment invests from USD1–20m in various sectors including Fintech, AI, Consumer tech, SaaS, B2B commerce and supply chain, deep tech, etc. SBI Holdings is a financial services company group based in Tokyo, Japan. The group’s businesses and companies are held primarily at SBI Holdings. The company provides financial services in various categories, including securities, asset management, banking and insurance and has formed an Internet-based financial conglomerate. The group also has a biotechnology-related business line which develops cosmetics, health foods and drug discovery. Furthermore, the group operates the business school SBI Graduate School. SBI is listed on the first section of the Tokyo Stock Exchange and Osaka Securities Exchange.

About Farglory: 

Founded in 1969 by Chairman Teng-Hsiung Chao, Farglory has earned a reputation of excellence for its dedication to ambitious international projects distinguished by quality craftsmanship and modern, sustainability-minded design. The Taiwan-based company operates across diversified industries that spread to construction, insurance, finance, hospitality, entertainment and medical care. A trusted developer with over 600 completed projects comprising over 200 million square feet, Farglory is transforming landscapes and shaping lives, one landmark at a time.

Photo: https://mma.prnewswire.com/media/2070507/Nitin_Chhabra.jpg

SOURCE Ace Turtle