Startups

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.

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.

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.