Month: May 2024

• Versogen, a greentech startup, secures $4.7 million federal funding for clean hydrogen research
• Delaware companies in pharma, finance, and greentech experience growth and financial strengthening in May
• Incyte acquires dermatology company Escient for $750 million to expand skin treatment innovations
• PSI, a semiconductor manufacturer, expands in Newark with grants totaling over $700,000
• Monthly Money Moves column highlights companies like JPMorgan Chase, Truveris, and Versogen in Delaware

Delaware Greentech Funding Boosts Versogen

In the bustling landscape of Delaware’s financial sector, the latest Money Moves report highlights the significant strides made by various companies, including the greentech startup Versogen. Read more

• Portuguese VC firm Shilling launches €50M Opportunity Fund to support growth-stage startups
• Shilling’s Opportunity Fund targets early-stage startups with investments of up to €5 million for Series A and beyond
• The fund aims to bridge the gap in funding for growth-stage startups in Portugal
• Shilling’s focus on supporting tech founders early has been key to its growth as a firm
• Other Portuguese VC firms, such as Indico Capital Partners, have also scaled up in recent years

Portuguese VC Fund Shilling Launches €50M Opportunity Fund

Portuguese VC firm Shilling has recently announced the launch of a new €50 million opportunity fund aimed at backing growth-stage startups. Read more

• Peakbridge closes $187m Growth Fund II, focusing on AI’s disruptive potential in food industry
• Peakbridge remains disciplined in investment thesis, prioritizing b2b, scalable, protected technologies
• AI transforming food industry, driving supply chain efficiency and R&D process
• Portfolio company Tastewise uses AI to provide real-time consumer insights for food and beverage companies
• Peakbridge invests in companies addressing pain points in ingredient, alternative protein, and personalized nutrition spaces

Peakbridge Closes $187m Growth Fund II, Focusing on AI Disruption in Food Industry

In the ever-evolving landscape of food technology and investment trends, PeakBridge has made a significant move by closing its $187m Growth Fund II. Read more

• Stupa Sports Analytics secures Rs. 280 million in funding for talent acquisition, global expansion, and product enhancement
• The funding will attract top AI/ML talent and support expansion into the US, UK, Australia, and the Middle East
• Stupa plans to enhance product offerings for various sports disciplines and deepen partnerships globally
• Co-founder Megha Gambhir envisions empowering athletes and fans with data-driven insights
• Previous funding rounds totaled Rs.

• AIIA expresses “profound disappointment” over AI funding in federal budget
• $39.9 million allocated over five years for AI policies and capabilities
• Majority of funding to go towards National AI Centre and AI expert advisory body
• ACS welcomes AI funding but calls for more support for Australian businesses
• DIGI welcomes government’s investment in AI policy development and industry analysis

AI Budget Disappointment

The recent federal budget announcement regarding AI funding has sparked profound disappointment within the tech industry associations. Read more

• ISS National Lab offering up to $750,000 in funding for technology development in Low Earth Orbit
• Soliciting flight concepts for technology development leveraging the space-based environment of the ISS
• Open to various technology areas such as chemical synthesis, translational medicine, and in-space edge computing
• Strategic priority for ISS National Lab to accelerate technology maturation and enable advancements to benefit life on Earth
• Two-step proposal submission process with emphasis on developing projects with positive economic impact

Technology Development Funding: ISS National Lab Initiative

The International Space Station (ISS) National Laboratory has recently announced an exciting opportunity for technology development in low Earth orbit. Read more

• IFC will invest up to $5 million in Sturgeon Emerging Opportunities II, LP, a new venture capital fund managed by Sturgeon Capital, to support tech startups in Central Asia.
• The fund will focus on areas like fintech, agritech, healthtech, and ed-tech to help entrepreneurs scale their businesses and create long-term employment opportunities.
• Sturgeon Capital aims to address the funding gap in the tech ecosystem of Central Asia and other emerging markets like Egypt and Pakistan.

• Vital funding from Newcastle Permanent Charitable Foundation supports Hunter DFV Consortium in combating tech-facilitated abuse
• Tech-facilitated abuse involves coercion, stalking, and harassment through technology
• Collaboration with WorkVentures to upskill frontline workers in identifying and addressing tech abuse
• Project includes educational resources, workshops, and a hotline for support
• Increasing awareness and strategies to enhance safety for victims of tech-facilitated abuse

The Importance of Tech Abuse Funding in Combatting Domestic Violence

In today’s digital age, technology has become a double-edged sword, offering both convenience and new avenues for abuse. Read more

• Identity verification fintech Data Zoo secures $35 million in funding after 13 years of bootstrapping, backed by Ellerston Capital’s JAADE fund
• Data Zoo’s software offers KYC identity verification for financial institutions, payment providers, and fintech startups, enhancing compliance and fraud prevention
• Founder Tony Fitzgibbon steps down as CEO, with Charlie Minutella taking over the role
• The funding will drive adoption and innovation in Data Zoo’s ID verification software, expanding its customer base globally
• Data Zoo’s growth and success in the identity verification industry impresses investors, leading to continued support for the company’s expansion

Identity Verification Fintech Data Zoo Banks $35 Million After 13 Years of Bootstrapping

In the fast-paced world of fintech, the need for robust identity verification solutions has never been greater. Read more

• Brixton Biosciences secures $33M in Series B funding to advance novel technology for pain treatment
• Neural Ice™ technology shows promising results in first-in-man studies
• Capital to be used for pivotal clinical studies in chronic and acute pain indications
• Company aims to expand Neural Ice™ platform to multiple pain indications with long-lasting effects
• Appointment of Dr. Michael Fishman as Chief Medical Officer and Reggie Groves to Board of Directors

Revolutionizing Pain Treatment with Brixton Biosciences’ Neural Ice™ Technology

Pain management is a critical aspect of healthcare, with millions of individuals suffering from chronic and acute pain conditions worldwide. Read more

• Columbus State Community College plans to use $15.6 million in bond funding for a significant expansion of its auto tech center at its Downtown campus
• The expansion project will modernize the automotive training center in Delaware Hall, increasing its size to over 40,000 square feet to accommodate more students and align with the needs of electric vehicles and emerging technologies
• The upgrade is part of Columbus State’s efforts to enhance its automotive technology education environment to meet the demands of regional manufacturing employers and support partnerships with companies like Ford and Honda
• The project will be carried out in two phases, involving the renovation of a former gymnasium and the update of existing instructional space, with construction expected to start in the second quarter of 2025 and complete by the end of 2026
• The investment aims to provide access to high-demand career education opportunities for Franklin County residents and enable the growth of Columbus State’s automotive technology program, which has seen a 13% increase in enrollment over the past two years

Columbus State Plans $15.6 Million Auto Tech Center Expansion

Columbus State Community College is embarking on an ambitious project to revamp and modernize its automotive training center located at its Downtown campus. Read more

• Food tech company Pepper secures $30 million in Series B funding led by ICONIQ Growth, with continued support from existing partners.
• Pepper has experienced significant growth, doubling its customer base and introducing over 100 new product features to enhance its eCommerce solutions.
• Richa Mehta from ICONIQ Growth will join Pepper’s board of directors following the funding round.
• The funding will drive product innovation in core areas like eCommerce, CRM tools, generative AI, product content, and analytics for Pepper’s ads network.

• Food tech company Pepper secures $30 million in Series B funding led by ICONIQ Growth, with continued support from existing partners.
• Pepper has experienced significant growth, doubling its customer base and introducing over 100 new product features to enhance its eCommerce solutions.
• Richa Mehta from ICONIQ Growth will join Pepper’s board of directors following the funding round.
• The funding will drive product innovation in core areas like eCommerce, CRM tools, generative AI, product content, and analytics for Pepper’s ads network.

• AI is revolutionizing fund management, offering better returns to investors through data-driven decisions
• Arabesque Holdings supplies AI-powered data to global fund houses to enhance investment decisions
• The AI engine of Arabesque AI autonomously manages over $550 million in assets globally
• AI helps fund managers make better decisions by compensating for mistakes and improving performance
• The use of disruptive technological tools like AI is seen as crucial for better outcomes and returns in portfolio management

Tech: Arabesque Revolutionizing Fund Management with AI

In the ever-evolving landscape of the financial industry, Artificial Intelligence (AI) is emerging as a game-changer, especially in the realm of fund management. Read more

• Scottish universities secure part of multi-million funding for cutting-edge satellite technology, enhancing Earth observation technologies
• The University of Edinburgh receives £1.7m to build a high spatial resolution near-infrared camera to detect methane leaks
• Strathclyde University allocated £65,000 to develop a new magnetometer instrument for space weather and Earth observation
• UK Space Agency investment aims to improve monitoring of emissions and climate data using satellite instruments
• Additional funding from academic and private sectors to further support development of remote-sensing technologies

Scottish Universities Share in UKSA Funding for Advanced Satellite Technology

In a significant development for the field of space technology, the UK Space Agency (UKSA) has recently announced a substantial allocation of multi-million funding towards research aimed at leveraging space capabilities to combat climate change. Read more

• DARPA has awarded a $1 million grant to fund the development of a military-grade prototype quantum laser that utilizes quantum entanglement to address diffusion and data loss issues in laser technologies.
• The team from Washington University in St. Louis aims to create a “quantum photonic-dimer laser” that entangles pairs of light particles to produce a coherent beam of laser with two different light wavelengths that can withstand adverse environmental conditions.

• CiferAI secures $650,000 funding from investors and Google to develop world’s first Decentralized Machine Learning technology
• CiferAI’s Decentralized Federated Learning technology trains AI models directly on data owners’ devices, enhancing security and transparency
• CiferAI’s technology addresses challenges of centralized AI development, such as security concerns, biases, and limited data access
• CiferAI’s proprietary Cifer Blockchain Network ensures enhanced security, scalability, and processing speed
• Miranda Songpatanasilp, CEO of CiferAI, emphasizes commitment to ethical, privacy-preserving AI solutions for equitable access

Decentralized Machine Learning Technology: CiferAI Secures $650,000 Funding

CiferAI, a US-based AI and blockchain technology startup, has recently made headlines by securing $650,000 in funding to develop the world’s first Decentralized Machine Learning technology. Read more

• UK Space Agency’s Space for All fund supports 15 STEM projects across the UK
• Funding totaling over £1 million to attract new talent to the UK space sector
• Projects aim to engage young people from all backgrounds in STEM careers
• Examples include Cosmic Explorers in Northern Ireland and Space Learning Pathway in Glasgow
• Funding distributed to various organizations across England, Northern Ireland, Scotland, and Wales

Space for All Fund Funds STEM Projects Across the UK

The UK Space Agency recently made an exciting announcement regarding the funding of 15 projects across the UK aimed at inspiring younger people to pursue careers in STEM fields. Read more

• A leading VC firm, OTB Ventures, secured €170 million from the NATO Innovation Fund and the European Investment Fund to boost European deep tech.
• OTB Ventures specializes in deep tech investments in space technology, AI, fintech infrastructure, and cybersecurity.
• The firm focuses on late Seed, Series A, and B rounds, supporting promising startups in Europe.
• The NATO Innovation Fund recognized OTB Ventures’ alignment with its mission of investing in emerging technologies.

• RecycleSmart is currently seeking $2 million in funding to expand its waste management services across Australia.
• The company, founded in 2019 in Sydney, aims to become the “Uber for waste” by collecting and recycling various items that cannot be placed in regular bins.
• RecycleSmart has a significant revenue opportunity in the Australian Waste Management industry, with a focus on diverting materials from landfill.

• Accel, a prominent venture capital firm, has announced a new $650Mn Europe fund dedicated to supporting early-stage startups in Europe and Israel.
• The fund focuses on investing in promising early-stage startups in the AI and cybersecurity sectors, aligning with the emerging AI hubs in European cities like London and Paris.
• Accel’s investment in Europe and Israel aims to stimulate technological innovation and increase venture capital activity in the region.

• Paris-based VC firm Blisce launches climate tech fund with a target of $160M
• Fund aims to raise €150 million ($162 million) to invest in tech startups impacting climate change
• Blisce hires Pierre-Edouard Berion to lead the fund, with Lucie Basch as venture partner
• Blisce, led by Alexandre Mars, is known for investing in unicorns like Spotify and Pinterest
• New fund to focus on polluting industries like materials, food, construction, mobility, and energy

Blisce Launches Climate Tech Fund with a Target of $160M

Blisce, a Paris-based venture capital firm, has recently announced the launch of a new climate tech fund with a target of $160 million. Read more

• Defra is considering the establishment of a potential new fund to maximize value from agriculture R&D and innovation spending
• An expert advisory group has been launched to explore financing options for innovative projects in agriculture and environmental sectors
• The group will consider mechanisms such as joint ventures, revenue sharing, and intellectual property licensing to enhance the benefits of R&D spending
• The aim is to boost productivity, economic growth, and commercial success while offering taxpayers a return on investment
• The Advisory Group will consist of a Chair and seven members, with applications open until midday on Monday 3 June

Exploring New Funding Opportunities for Agriculture R&D

In an effort to maximize the value of research and development (R&D) investments in agriculture and nature, the Department for Environment, Food and Rural Affairs (Defra) is considering the establishment of a potential new fund. Read more

• The White House proposes up to $120 million in federal funds to aid Polar Semiconductor’s chip facility expansion
• Funding comes from the bipartisan CHIPS and Science Act signed by President Biden in August 2022
• Polar Semiconductor aims to double its U.S. production capacity of sensor and power chips within two years
• The company has received state and federal support, including $75 million from the Minnesota Department of Employment and Economic Development
• This funding is part of a broader effort to strengthen the U.S.

• Active Surfaces secures $5.6M in oversubscribed pre-seed funding to revolutionize solar technology
• Lightweight, flexible solar panel technology can be integrated into any surface of any size
• Funding led by Safar Partners, with support from various institutional VCs and corporate backers
• Company aims to deliver higher efficiency, lower costs, and greater versatility than traditional solar panels
• Team includes experts from prestigious institutions, participating in climate tech incubators and accelerator programs

Active Surfaces Secures $5.6M in Pre-Seed Funding

Active Surfaces, a groundbreaking flexible solar panel startup, recently announced a significant milestone in its journey towards revolutionizing solar technology. Read more

• Dundee innovation lab secures £1.1 million funding for legal technology project
• Collaboration between University of Dundee and law firm Thorntons to create dedicated space for education in law and technology
• Funding aims to deepen links between Thorntons and the university, offering new career prospects for law graduates
• Project to develop innovative products and services for legal and professional services companies
• University of Strathclyde hosts bi-annual Inspire100 event, awarding funding to start-ups and entrepreneurs for innovative projects

Dundee Innovation Lab Secures £1.1 Million Funding

In a significant boost to the realms of technology and legal innovation, the University of Dundee and law firm Thorntons have successfully secured £1.1 million in funding for their collaborative legal technology project. Read more

• UK firms gain access to European supercomputer funding through the EuroHPC programme
• EuroHPC is a collaborative initiative involving 35 countries, providing resources and funding for supercomputer projects
• The UK re-joined Horizon Europe in September 2023, allowing access to over £770m in EuroHPC funding
• Secretary of State Michelle Donelan emphasizes the importance of supercomputers for research and economic growth
• UK must provide match-funding for European supercomputer grants on a case-by-case basis

Unlocking Opportunities: UK Firms Embrace European Supercomputer Funding

In a significant development, UK businesses and researchers now have access to European supercomputer resources and funding through the European High Performance Computing Joint Undertaking (EuroHPC). Read more

• Seamfix secures $4.5 million in new funding from Alitheia IDF for expansion and technological infrastructure enhancement
• The funding will facilitate the rollout of digital ID and credential services in five additional African nations
• Seamfix, founded in Nigeria, offers digital identity solutions to organizations and government agencies across Africa
• The company’s solutions, including Veremark, cater to clients like NIMC, MTN, and financial institutions in Nigeria
• Seamfix’s innovative digital solutions have facilitated SIM registration, verification, and national identity linking for major telecom companies across Africa

Seamfix Secures $4.5 Million in New Funding

In recent news, Seamfix, a leading provider of digital identity solutions, has successfully raised $4.5 million in a private equity funding round from Alitheia IDF, a prominent gender lens investing fund. Read more

• Renda secures $1.9 million in successful pre-seed funding round led by Ingressive Capital
• Equity participants include Techstars Toronto, Founders Factory Africa, and others
• Renda, founded by Bimbo Onaboye and Ope Onaboye, offers infrastructure solutions for businesses in Africa
• Renda’s Renda360 platform provides order processing, delivery management, cash reconciliation, and more
• Pre-seed funding enables Renda to expand its partnership network, enhance technology offerings, and extend development into new markets

Renda Secures $1.9 Million in Successful Pre-Seed Funding Round

In the fast-paced world of startups and tech ventures, securing funding is a crucial milestone that can propel a company towards growth and success. Read more

• Egyptian startup Waffarha secures a seven-figure investment in a seed funding round to enhance technology infrastructure and expand operations.
• Founded in 2012 by Tarek Magdy and Noha Hamdy, Waffarha offers daily discounts of 50% to 90% through its website and mobile app.
• The partnership with VMS aims to support Waffarha’s expansion in Saudi Arabia and improve marketing strategies for increased customer engagement.