Innovation

Elevate: Benefits Administration Platform Company Raises $20 Million (Growth Funding)

By Amit Chowdhry ● Nov 8, 2024

Elevate, a modern consumer-directed benefits administration platform, announced that it has secured $20 million in growth funding, led by Fin Capital with participation from Anthemis and SaaS Ventures. This latest funding round brings the company’s total funding to $63 million.

Billd: Subcontractor-Focused Financial Solutions Company Raises $17.5 Million

By Amit Chowdhry ● Nov 8, 2024

Billd, a leading provider of financial solutions for commercial subcontractors, announced its latest investment round securing $17.5 million in strategic funding. This funding helps accelerate Billd's mission, further solidifying the company's role as an indispensable partner to subcontractors and enabling the organization to continue driving innovation in construction finance.

Varro: $20 Million Raised To Address Transmission Of Infectious Disease

By Amit Chowdhry ● Nov 8, 2024

Varro Holdings - an emerging leader in products that disrupt the transmission of infectious disease - announced it has entered into an agreement with Vitalik Buterin to receive 20 million USDC (equal to $20 million) in non-dilutive financial support for developing its novel pathogen detection technology, and to make the technology available via open source. The funding will be provided via Buterin’s scientific finance and direct donation initiative Kanro.

Flueid: $8.3 Million Closed For Scaling Verification Of Title Technologies In Real Estate

By Amit Chowdhry ● Nov 8, 2024

Flueid, a leading VOT (Verification of Title) company for residential real estate transactions, announced it has secured $8.3 million in capital to accelerate product development, drive business growth, and expand its go-to-market strategy for its VOT solutions suite. This funding round was led by LiveOak Ventures. Additional participation came from Detroit Venture Partners along with existing investors Aquiline and Commerce Ventures.

Normal Computing Picked For ARIA’s £50 Million Scaling Compute Program

By Amit Chowdhry ● Nov 8, 2024

AI and hardware company Normal Computing UK was picked as one of 12 teams awarded funding from the Advanced Research + Invention Agency (ARIA) Scaling Compute Programme. This program, backed by £50 million in funding, aims to reduce AI hardware costs by 1000x while diversifying the semiconductor supply chain.

Primergy: $225 Million In Corporate And Project Financing Revealed

By Amit Chowdhry ● Nov 8, 2024

Primergy Solar - a leading developer, owner, and operator of utility-scale solar and energy storage - announced the closing of $225 million in project financing for its Valley of Fire (VoF) portfolio. These funds includes a $125 million tax credit sale for the Gemini Solar + Storage project and a $100 million revolving credit facility from Rabobank for the continued development of the other VoF projects.

Ondine Biomedical: Life Sciences Company Raises C$16 Million

By Amit Chowdhry ● Nov 8, 2024

Canadian life sciences company Ondine Biomedical announced it is accelerating its final preparations for a fourth quarter start to its key pivotal US Phase 3 trial following its recent successful raise of C$16 million. Along with strong support from existing institutional shareholders, Ondine added several significant new shareholders, such as M&G Investment Management Limited. Plus, Ondine is also in discussions with a major U.S. healthcare group regarding a further potential investment of up to C$5.5 million.

Sunbit: $355 Million Debt Warehouse Facility Closed

By Amit Chowdhry ● Nov 8, 2024

Sunbit, a company building financial technology for real life, announced today that it closed a $355 million debt warehouse facility led by J.P. Morgan, Mizuho Bank Ltd. and Waterfall Asset Management. This marks Sunbit’s second debt warehouse facility announcement this year, following the news of a $310 million facility with Citi and Ares Management earlier this year.

Praia Health: Strategic Investment Raised From Labcorp Venture

By Amit Chowdhry ● Nov 8, 2024

Praia Health, a consumer experience orchestration platform for health systems, announced it has secured a strategic investment from the Labcorp Venture Fund and will collaborate with Labcorp, a leader of innovative and comprehensive laboratory services, to streamline and personalize the patient experience for lab orders and testing within select health systems.

INBRAIN Neuroelectronics: Brain-Computer Interface Therapeutics Company Raises $50 Million (Series B)

By Amit Chowdhry ● Nov 8, 2024

INBRAIN Neuroelectronics, a brain-computer interface therapeutics (BCI-Tx) company developing graphene-based neural technologies, announced the closing of a $50 million Series B financing round. The funding round was led by imec.xpand with new investors EIC Fund, Fond ICO Next Tech, CDTI-Innvierte and Avançsa. Existing investors Asabys Partners, Aliath Bioventures and Vsquared also participated, bringing the total amount raised since being founded to $68 million.

Axonis Therapeutics: $115 Million (Series A) Raised To Develop Novel Neuromedicines

By Amit Chowdhry ● Nov 8, 2024

Axonis Therapeutics, a biotechnology company focused on the development of novel neuromedicines, announced the completion of an oversubscribed $115 million Series A financing. The proceeds from the financing will be used to advance Axonis' lead development candidate, AXN-027, through clinical proof-of-concept in patients. Cormorant Asset Management and venBio Partners co-led the financing with significant investments from Sofinnova Investments, MRL Ventures Fund, Perceptive Advisors, Lumira Ventures and Solasta Ventures. Eos Bioinnovation, Hatteras Venture Partners, SCI Ventures, Alexandria Venture Investments, Tachyon Ventures, BoxOne, Iaso Ventures and Pathway Bioventures also participated in the financing.

FYLD: AI-Based Fieldwork Effectiveness Platform Company Raises $10 Million

By Amit Chowdhry ● Nov 8, 2024

FYLD, an AI-based fieldwork effectiveness platform for the global infrastructure sector announced that NatWest (one of the UK's largest business and commercial banks) has provided $10 million of growth capital to FYLD. This banking partnership will enable expedited investments and continued growth across markets, especially as FYLD scales past the development stage.

Duetti: Music Catalog Monetization Platform Company Raises $114 Million

By Amit Chowdhry ● Nov 8, 2024

Duetti, a music platform democratizing catalog monetization for independent artists, announced it has raised $114 million in new funding. And this includes $34 million in equity financing led by Flexpoint Ford, along with participation from existing investors Nyca Partners and Viola Ventures. Duetti had completed its inaugural $80 million privately rated asset-backed securitization (ABS) transaction, backed by a highly diversified music rights catalog.

Inverness Graham: Green Light Fund Closed At Above Target Of $238 Million

By Amit Chowdhry ● Nov 8, 2024

Inverness Graham, a Philadelphia-based buyout firm focused on buying companies where technology is transforming traditional industry, announced the final closing of the Inverness Graham Green Light Fund at $238 million, exceeding its $200 million target.