Innovation

Portex: $6.25 Million (Seed) Closed For Automating Freight Management

By Amit Chowdhry ● Sep 6, 2024

Portex, a tool that allows shippers to handle everything related to freight management in one place, announced $6.25 million in seed funding. Footwork led the round, which was joined by Cowboy Ventures and existing investors Susa Ventures and Base 10.

Mantel: Carbon Capture Company Closes $30 Million (Series A)

By Amit Chowdhry ● Sep 6, 2024

Mantel Capture, a technology provider of a carbon capture system using molten borates, announced it has raised $30 million in Series A funding co-led by Shell Ventures and Eni Next. And additional participating investors include Engine Ventures, New Climate Ventures, Hartree, bp Ventures, Arosa Ventures, Vale Ventures, Newlab, MCJ Collective, and others.

HDAX Therapeutics: $3.2 Million (Seed) Raised To Develop Therapeutics For Unmet Medical Needs

By Amit Chowdhry ● Sep 6, 2024

HDAX Therapeutics, a biotechnology company pioneering a novel approach to targeting HDAC6 to discover and develop breakthrough therapeutics for high unmet medical needs, announced the first closing of an oversubscribed $3.2 million (CA$4.3 million) seed round. The funding was led by SeedFolio, FACIT, and Toronto Innovation Acceleration Partners (TIAP), with participation from Eos Bioinnovation, Ontario Centre of Innovation (OCI), and other investors.

CytoTronics: Cell Biology Discovery Tech Company Raises $13.5 Million (Seed Extension)

By Amit Chowdhry ● Sep 6, 2024

CytoTronics, a pioneer of semiconductor-based platforms for discovery in cell biology, announced a $13.5 million seed extension financing and the appointment of Sameer Rohatgi of LYFE Capital to their Board of Directors.

24M: Energy Storage Company Raises $87 Million (Series H Preferred Stock) At $1.3 Billion Valuation

By Amit Chowdhry ● Sep 6, 2024

24M announced it has closed an $87 million investment round. This Series H Preferred Stock funding led by Nuovo+, a 24M strategic partner and licensee, values the company at $1.3 billion post-money.

Aztec Group: Warburg Pincus Joins As Strategic Partner

By Amit Chowdhry ● Sep 6, 2024

Aztec Group—a leading international fund and corporate services provider—announced it has welcomed Warburg Pincus as a strategic partner. This will make Warburg Pincus a minority shareholder and key company client.

WOMBO: Consumer AI Application Company Raises $9 Million

By Amit Chowdhry ● Sep 6, 2024

WOMBO, a leader in consumer AI applications, announced it has secured $9 million in its latest funding round. The funding was led by Round13 Digital Asset Fund, with participation from NVIDIA, CoreWeave, SBI, Web3.com, and others.

Thera: Payroll And Payments Platform Company Raises $4 Million (Seed)

By Amit Chowdhry ● Sep 6, 2024

Leading payroll and payments platform Thera has announced that it has raised a $4 million seed round with participation from Y Combinator, 10x Founders, Amino Capital, Zillionize, and Bayhouse Capital. And notable angels in the round include Oliver Jung, Chris Bakke, Andrew Yeung, Akash Magoon, and Bobby Matson. The company will use the funding to accelerate its growth by further developing its platform and expanding the team in NYC.

Drip Capital: Trade Finance Platform Raises $113 Million

By Amit Chowdhry ● Sep 6, 2024

Drip Capital, a leading digital platform for trade finance, announced it has secured $113 million in new funding. And this includes $23 million in equity from Japanese institutional investors, GMO Payment Gateway and Sumitomo Mitsui Banking Corporation (SMBC), and $90 million in debt financing, led by the International Finance Corporation (IFC) and East West Bank.

The Demex Group: Reinsurance Solution Company Raises $10.25 Million (Series A)

By Amit Chowdhry ● Sep 6, 2024

The Demex Group, which is a risk analytics and intelligence company that facilitates innovative stop-loss reinsurance protection, announced it has raised $10.25 million through a Series A and previously closed SAFE funding round led by Congruent Ventures and included Moxxie Ventures, MetaProp, and existing investor Blue Bear Capital.

Switch Bioworks: $17 Million (Seed) Raised To Develop New Biological Fertilizer Technology

By Amit Chowdhry ● Sep 6, 2024

Switch Bioworks, a biotechnology company that is developing low-cost and sustainable fertilizers, announced it raised $17 million in Series Seed financing led by Change Forces Capital and joined by Grantham Foundation, Astanor Ventures, Acre Venture Partners, Anthos Capital, Thia Ventures, Emerson Collective, the farmer-led Ag Ventures Alliance and others.

Calyxia: B2B Cleantech Company Raises $35 Million (Series B)

By Amit Chowdhry ● Sep 6, 2024

Calyxia, an industrial B2B cleantech company specializing in advanced and biodegradable microcapsules and microparticles for use in consumer goods, crop protection and advanced materials, announced that it has raised $35 million in a Series B funding round. The funding round was led by Lombard Odier Investment Managers, through its Plastic Circularity Fund and Bpifrance, through its Large Venture Fund, with strong support from existing investors including Astanor.

3DEO: $3.5 Million Strategic Investment Raised From Mizuho Bank

By Amit Chowdhry ● Sep 6, 2024

Los Angeles-based design, engineering, and metal additive manufacturing (AM) leader 3DEO announced a strategic investment from Mizuho Bank, a Japan-headquartered global financial institution committed to fostering innovation and sustainability. This funding emphasizes Mizuho's dedication to advancing the adoption of AM technologies and supporting 3DEO's efforts to unlock new product design and development opportunities.

Faraday Future: $30 Million In Financing Commitments Revealed

By Amit Chowdhry ● Sep 6, 2024

Faraday Future, a California-based global shared intelligent electric mobility ecosystem company, announced that it has secured $30 million in financing commitments from investors in the Middle East, the United States, and Asia. The participation from a Middle East investor, Master Investment, an investment firm of Sheikh Abdulla Al Qassimi from Ras Al Khaimah, the UAE represents a significant milestone, emphasizing the company’s successful expansion and development efforts in the region.

OrsoBio: $67 Million (Series B) Secured To Develop Treatments For Obesity

By Amit Chowdhry ● Sep 6, 2024

OrsoBio - a clinical-stage biopharmaceutical company developing treatments for obesity and obesity-associated disorders - announced the closing of an oversubscribed $67 million Series B financing. The funding was co-led by new investors Ascenta Capital and Woodline Partners, with significant participation from existing investors Samsara Biocapital, Longitude Capital, Enavate Sciences, NuevaBio, and Eli Lilly.

Agree: $3 Million (Pre-Seed) Raised To Transform How Contracts And Payments Come Together

By Amit Chowdhry ● Sep 6, 2024

Agree, an all-in-one agreements platform that seamlessly integrates money movement, announced a $3 million pre-seed round. Better Tomorrow Ventures led the funding round, which included participation from 8-Bit Capital, Everywhere Ventures, Expedite Ventures, Firsthand Alliance, Hustle Fund, NEA, Singh Capital Partners, and Trust Fund. With this funding, the company aims to become an end-to-end agreements platform that allows consumers to securely send, sign, and automatically generate invoices and payments from any agreement.

Inventive AI: RFP Optimization Platform Raises $4 Million (Seed)

By Amit Chowdhry ● Sep 6, 2024

Inventive AI, an AI-based tool for streamlining and optimizing RFP (Request for Proposal) and sales questionnaire workflows, announced the successful closure of its seed funding round, raising $4 million. Sierra Ventures led this funding round, which included Y Combinator, SOMA Capital, and General Catalyst. The funding will accelerate Inventive AI's goal of enhancing RFP processes through generative AI, empowering businesses to respond more effectively and efficiently to RFPs and questionnaires.

Tilt: Real-Time Shopping Platform Company Raises $18 Million (Series A)

By Amit Chowdhry ● Sep 6, 2024

Tilt - a real-time shopping platform company - announced it raised $18 million in Series A funding. Balderton Capital led the Series A funding round with participation from existing investors TQ Ventures, Earlybird and Seedcamp. Launched by two early former Revolut employees Neil Shah and Abhi Thanendran, Tilt is a real-time shopping platform transforming the e-commerce space by becoming a leading destination for fashion.

GoldenPeaks Capital Closes Financing Facility With AB CarVal

By Amit Chowdhry ● Sep 6, 2024

GoldenPeaks Capital and AB CarVal (an established global credit fund and part of AllianceBernstein’s Private Alternatives business) have signed a bespoke junior financing facility. And GoldenPeaks Capital, which is one of the fastest growing independent power producers in Eastern Europe, will use these funds to finance further acquisition and construction of Ready-to-Build solar photovoltaic assets in Poland.

E-PAL: $30 Million Raised And Web3 Infrastructure Service BALANCE Launched

By Amit Chowdhry ● Sep 6, 2024

E-PAL, which is the world’s leading gaming and social companion platform, announced it has officially unveiled Balance (a new AI-powered blockchain experience platform) following two successful funding rounds led by Andreessen Horowitz (a16z) and Galaxy Interactive. These funding rounds also received support from prominent investors like Animoca Brands, K5, CLF Partners, MBK Capital, New Heights Fund, AMBER, MarbleX, Sky Mantra, Tuna, Aptos Labs, IOBC, Leland, Halcyon Capital, Uphonest, Taisu Ventures, Gate Labs, DWF Ventures, BING, WAGMI, YouTube co-founder Steve Chen, Riot Games CEO Marc Merrill, and League of Legends Director Thomas Vu. This brought E-PAL’s total funding to $30 million.

HAYA Therapeutics: Collaboration With Lilly Valued Up To $1 Billion Signed

By Amit Chowdhry ● Sep 6, 2024

HAYA Therapeutics - a biotechnology company pioneering precision RNA-guided regulatory genome targeting therapeutics for chronic diseases - announced a multi-year agreement with Eli Lilly and Company to apply HAYA’s advanced RNA-guided regulatory genome platform to support preclinical drug discovery efforts in obesity and related metabolic conditions. And the partners will identify multiple regulatory genome-derived RNA-based drug targets to address these chronic conditions.

Mesa: Quantum Sensing Company Raises $3.75 Million (Seed)

By Amit Chowdhry ● Sep 6, 2024

Mesa Quantum - an innovative quantum sensing company - announced an oversubscribed seed funding of $3.7 million led by J2 Ventures, a Boston-based fund focused on dual-use technologies, with participation from SOSV.

FloQast: Interview With Co-Founder & CEO Mike Whitmire About This Accounting Automation Platform Company

By Amit Chowdhry ● Sep 6, 2024

FloQast is an Accounting Automation Platform created by accountants for accountants, enables organizations to automate a variety of accounting operations. Pulse 2.0 interviewed FloQast co-founder and CEO Mike Whitmire to learn more about the company.

Salesforce Buying Own Company In $1.9 Billion Deal

By Amit Chowdhry ● Sep 6, 2024

CRM giant Salesforce announced it has signed a definitive agreement to acquire Own Company, which is a leading provider of data protection and data management solutions. Under the terms of the deal, Salesforce will acquire Own for approximately $1.9 billion in cash, net of the value of the approximately 10% of outstanding shares currently owned by Salesforce, subject to customary purchase price adjustments.

Angel Kids AI: Kid-Friendly Browser Company Raises $1.1 Million (Seed Extension)

By Amit Chowdhry ● Sep 6, 2024

Angel Kids AI, an AI-based browser designed to provide children with a safe and age-appropriate internet experience, announced that they have raised an additional $1.1 million of funding in an extended seed round. This funding round was from three investors Magnify Ventures, City Light, and Atland Ventures and brought Angel Kids AI's total amount raised to $5.85 million. This additional funding will be used to accelerate Angel Kids AI's hiring, product development, and marketing initiatives.

Netlogistik: Interview With Managing Partner Jagan Reddy About This Digital Supply Chain Company

By Amit Chowdhry ● Sep 6, 2024

Netlogistik partners with companies to tackle their toughest business challenges and guide you in every step towards the digital transformation of your supply chain. Pulse 2.0 interviewed Netlogistik US managing partner Jagan Reddy to learn more about the company.

Azul: Interview With CEO & Co-Founder Scott Sellers About This Java Platform Company

By Amit Chowdhry ● Sep 6, 2024

Azul is 100% focused on Java, delivering the most trusted Java platform to the modern cloud enterprise. Pulse 2.0 interviewed Azul CEO and co-founder Scott Sellers to learn more about the company.

Amani Saab: Interview With Co-Founder And Managing Director Ziad Aboulmouna

By Amit Chowdhry ● Sep 6, 2024

Amani Saab is a luxury fashion company that is redefining evening wear for the modern muse, offering collections that combines glamor with comfort, sensuality with sophistication, and opulence with ease. Pulse 2.0 interviewed Amani Saab co-founder and managing director Ziad Aboulmouna to learn more about the company.

Vida: Interview With Founder & CEO Lyle Pratt About The Carrier-Grade AI Voice Agent Company

By Amit Chowdhry ● Sep 6, 2024

Vida is a company that builds AI phone agents for businesses. Pulse 2.0 interviewed Vida CEO and founder Lyle Pratt to learn more about the company.

Thatch: Personalized Health Benefits Platform Raises $38 Million (Series A)

By Amit Chowdhry ● Sep 5, 2024

Thatch - a personalized health benefits platform for forward-thinking businesses - announced it had raised $38 million in Series A funding. The round was led by Index Ventures and General Catalyst, and with new investors SemperVirens and The General Partnership, with participation from existing investors including Andreessen Horowitz (a16z) and Avid Ventures. This funding will drive Thatch's mission to correct an accident of history and decouple health insurance from employment.